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Manila’s first all-digital bank offers 6% deposit rate

March 18, 2021

-With game-changing deposit interest rates of up to 6% p.a., Tonik offers deposit, payment, and card products to consumers through its revolutionary proprietary app

MANILA, Philippines, March 18, 2021 /PRNewswire/ -- 



MANILA -- Tonik, Southeast Asia's first digital-only bank, has launches as the first neobank in the Philippines, seting out to fundamentally disrupt the Filipino retail banking industry. It is offering up to 6% deposit rates, along with payment and card products.

Declining engagement in FX Options among Asian businesses

March 24, 2021

SINGAPORE -- Small and mid-sized businesses in Asia are turning away from FX Options as uncertainty from the coronavirus pandemic fuels volatility in major currency pairs, latest research from East & Partners Asia reveals. Just one in three (33%) businesses in the region now use FX Options to mitigate currency risk, slipping 11% from a year ago, while Forward FX adoption reaches a record high of 4%.

Faster global growth to boost Asia’s recovery: S&P

March 24, 2021

SINGAPORE -- Asia-Pacific's economic recovery from COVID-19 will be boosted by U.S. stimulus and stronger global demand, despite the COVID vaccine rollout in the region perhaps lagging other parts of the world, says global ratings agency Standard and Poors. S&P Global Ratings expects enough progress with the vaccine to lift consumer spending and domestic demand later in 2021.

Steel sector over-supply could persist: ANZ

March 25, 2021

BEIJING -- Further capacity reductions in the steel sector as suggested by a policy consultation proposal released in December 2020 is under consideration in China. In a research report, ANZ Bank says many regard the policy as a way to reduce steel production. However, ANZ believes represents a critical policy shift from quantity to quality control. "The potential impact of this is under-estimated," it says.