Business

Malayan Insurance, the country’s No. 1 non-life insurance company, together with Willis Limited, an insurance broking and risk consultancy firm, recently conducted a forum on the fundamentals of art insurance. 

By Jerry Maglunog Two of the country’s leading universal banks—Banco de Oro (BDO) and UnionBank of the Philippines (UnionBank)—have just started alliances with other banks.

Lima, Peru—The biggest risks to the global economy are now in emerging markets, where private companies have racked up considerable debt amid a fifth straight year of slowing growth, the International Monetary Fund (IMF) said. 

Kathmandu, Nepal—Struggling with a fuel shortage after Indian shipments went on hold, Nepal is asking suppliers to bring gasoline and kerosene by airplane before the Himalayan country begins celebrating its biggest festival of the year, and for the first time is looking to import fuel from China. 

Net capital flows to emerging markets in 2015 will be negative for the first time since 1988, the Institute of International Finance (IIF) said in a report. 

Globe Telecom Inc. has signed a 10-year, P5-billion and seven-year term loan with Metrobank, which it intends to use for capital expenditures (capex). 

By Riza Lozada Postharvest losses of the fishery sector is estimated at P20 billion a year, but this can be mitigated through the strict implementation of the Republic Act 10654 that limits commercial fishing, Dennis Calvan, executive director of NGOs (non-governmental organizations) for Fisheries Reform Inc., said. 

Subic Bay International Container Terminal Corp. (SBITC), a unit of global port operator International Container Terminal Services Inc.(ICTSI), recently received and commissioned three new reach stackers and 16 new Kalmar Ottawa terminal tractors. 

Banks in the Asia-Pacific region appear fairly well-padded against recent currency depreciations, according to a report, titled “Asia-Pacific Banks Seem Sufficiently Cushioned Against Currency Depreciation,” that Standard & Poor’s Ratings Services (S&P) recently released.

By Jerry Maglunog China’s yuan, now the world’s sixth most traded currency, is just a matter of months away from becoming the fifth unit in the special drawing rights (SDR), which will make it a currency acceptable for global use.