American Express Bank and four other foreign institutions have shut down their offices in the Philippines as the financial woes in the United States and Europe prompted them to sell off their offshore assets.The Bangko Sentral ng Pilipinas (BSP or Central Bank of the Philippines) said the asset sale was meant to help the financially troubled parent firms generate liquidity. Full story here.
No comments:
Post a Comment
This is a public comments area. Views expressed here do not necessarily reflect those of the blog author.