By The Financial District
Detroit Nonprofit CFO Pleads Guilty To $44 Million Theft
William Smith, 52, has pleaded guilty to wire fraud and money laundering charges after embezzling $44 million from the Detroit Riverfront...
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By The Financial District
2 days ago1 min read
U.S. Hacker Sentenced Over Bitcoin Heist Worth Billions
A hacker has been sentenced to five years in a U.S. prison for laundering the proceeds of one of the largest cryptocurrency thefts in...
By The Financial District
2 days ago3 min read
BSP Launches New Interest Rate Swap Market To Deepen PH Capital Markets
The Bangko Sentral ng Pilipinas (BSP) has announced the launch of a new interest rate swap (IRS) market aimed at boosting trading activity..
By Lito U. Gagni
3 days ago4 min read
Supreme Court Decision Awaits Relief For Long-Suffering Depositors Of Closed Bank
It is, frankly, a bewildering injustice that depositors of a closed thrift bank are still unable to access their hard-earned savings.
By The Financial District
3 days ago1 min read
UN Climate Chief Asks G20 Leaders For Funding Boost
The UN’s climate chief has urged leaders of the world’s largest economies to signal support for global climate finance efforts when they...
By The Financial District
4 days ago1 min read
U.S. Scrutinizes Russian Accounts UBS Took Over From Credit Suisse
The United States is investigating Russian clients inherited by UBS following its acquisition of Credit Suisse, heightening scrutiny on...
By The Financial District
Nov 141 min read
SoftBank Posts First Profit In Three Years For April–September
SoftBank Group Corp. reported on Tuesday a net profit of 1.01 trillion yen ($6.5 billion) for the six months ending in September.
By The Financial District
Nov 131 min read
China Approves $840 Billion Plan To Refinance Local Government Debt
China approved a 6 trillion yuan ($839 billion) plan on Friday to help local governments refinance their massive debt, in the latest push...
By The Financial District
Nov 122 min read
UnionBank Leads AI Revolution At DigiCon 2024, Elevates Customer Experience With Cutting-Edge Innovation
Union Bank of the Philippines (UnionBank), a trailblazer in digital banking, showcased its industry-leading expertise in transforming...
By The Financial District
Nov 123 min read
“CREATE MORE” Law Expected To Attract Foreign Investments
Finance Secretary and Fiscal Incentives Review Board (FIRB) Chairperson Ralph G. Recto praised the recent enactment of the Corporate...
By The Financial District
Nov 92 min read
BSP Bags International Award For Coin Deposit Machines Project
The Bangko Sentral ng Pilipinas (BSP) recently received international recognition for its Coin Deposit Machines (CoDMs) initiative, a...
By The Financial District
Nov 92 min read
Indonesia, Malaysia Invited To Explore Islamic Finance Opportunities In The Philippines
The Bangko Sentral ng Pilipinas (BSP) and the Asian Development Bank (ADB) invited Indonesian and Malaysian business representatives to...
By The Financial District
Nov 81 min read
EY Quits As Super Micro Computer Auditor
Super Micro Computer (SMCI), the maker of liquid-cooled artificial-intelligence (AI) servers, stated in a regulatory filing that its...
By The Financial District
Nov 62 min read
Cavite Flood Control Project Cost Now Amounts To PHP22 Billion
The National Economic Development Authority (NEDA) board has approved the extension of the construction period and other adjustments to...
By The Financial District
Nov 41 min read
$3.1-B In Japan Zero-Interest COVID Loans "Unrecoverable"
Some 468.5 billion yen (about $3.1 billion) of the 1.44 trillion yen (approx. $9.45 billion) in interest-free loans extended by the...
By The Financial District
Nov 11 min read
Finance Secretary Recto Courts UK Investors For Philippine Opportunities
Finance Secretary Ralph G. Recto led a Philippine delegation to London, engaging prominent British firms to consider the Philippines for...
By The Financial District
Nov 11 min read
Record Defaults Hit $800-B Chinese Local Debt Market
Defaults in an opaque corner of China’s local debt market have surged to a record high, ensnaring investors who believed the securities...
By The Financial District
Oct 313 min read
UnionBank’s 9-Month Income Soars To ₱8.6-B
Union Bank of the Philippines has reported impressive results for the first nine months of 2024, achieving a year-to-date net income of...
By Lito U. Gagni
Oct 292 min read
PH Faces FATF Blacklist Prospects For Gaps In Combatting Money Laundering
The Philippines, currently teetering on the edge of the grey list of the Financial Action Task Force (FATF), the global body tasked with...
By The Financial District
Oct 282 min read
World Bank Group To Boost Philippine Agriculture Sector
Finance Secretary Ralph G. Recto kicked off the 2024 World Bank-International Monetary Fund (WB-IMF) Annual Meetings in Washington, D.C...
By The Financial District
Oct 281 min read
U.S. Watchdog Orders Goldman Sachs, Apple To Pay $89 Million Over Consumer Violations
Corporate giants Goldman Sachs and Apple have been ordered to pay $89 million for violations of consumer protection laws related to their...
By The Financial District
Oct 281 min read
Germany Mulls Law To Protect Banks From Foreign Takeovers
Germany is considering introducing a law to protect domestic banks from foreign takeovers.
By The Financial District
Oct 282 min read
Crypto’s Tether Faces New U.S. Probes
Of all the legal actions taken against cryptocurrency companies by US regulators and prosecutors over the past year, arguably none...
By The Financial District
Oct 282 min read
Recto: Gov't Funds Ready For Typhoon-Hit Areas
The national government has sufficient funds available to quickly finance the relief and rehabilitation of areas affected by Typhoon...
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