Senate OKs FIST bill to help banks manage bad loans

Finance Secretary Carlos Dominguez III scored another victory after the Senate approved on third and final reading the Financial Institutions Strategic Transfer (FIST) bill to help banks and other financial institutions offload their non-performing loans and assets amid the Covid-19 outbreak.

GCash money transfer services down

Are you trying to do last-minute fund transfers before banks reimpose charges on October 1? Brace yourself, it’s going to be a tough one.

ABS-CBN assures manageable debt level

Lopez-led ABS-CBN Corp. said it’s financial obligations remained manageable even after the network failed to secure a fresh 25-year franchise, resulting in job displacements and closure of non-profitable businesses.

Virus credit crunch risks turning firms into zombie army

A decade of easy money sloshing around the economy may come to haunt policymakers as legions of firms hooked on cheap credit have no buffers to make it through the coronavirus crisis without serious damage, or outright failure.