Friday, November 13, 2015

BSP downplays effect of Multiply default on banking industry

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BSP downplays effect of Multiply default on banking industry

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By Melissa Luz T. Lopez , Senior Reporter and Denise A. Valdez , Reporter LOCAL banks’ exposure to Multiply is “negligible,” a senior centra...

Stocks fall as banks take hit from Multiply default

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By Arra B. Francia , Reporter SHARES fell on the last trading day of the week as investors turned cautious on the banking sector after news ...

Multiply social network bankruptcy poses headwind for PSE’s Financials sector

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The Philippine stock market is facing strong headwinds that may seriously hit the Financials Sector as five of the biggest banks are exposed...

$600-M Multiply default sends financials tumbling

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Financial stocks took a hit Friday after five of the country’s largest banks were reportedly exposed to what could be the biggest corporate ...

Multiply hit by world financial downturn, seeks rehab: SBMA

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Indonesian website Multiply is seeking court-assisted rehabilitation to be able to pay off its debt, with demand hit by a slowdown in the gl...

Local banks grapple with biggest default in PH corporate history

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Top 5 lenders take control of Multiply website Five of the country’s largest banks are rushing to cover a combined loan exposure of $600 mi...

PH banks can weather Multiply default, BSP assures public

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Banking regulators on Friday moved to reassure the public about the strength of the financial system after the bankruptcy of a E-commerce an...

Court places Multiply under corporate rehab

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A Pasig City Regional Trial Court has placed Multiply under corporate rehabilitation after the company sought relief from the Philippine gov...