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Indonesia: Retailers say October’s sales unusually low

The Indonesian Retailers Association (Aprindo) has said retail business did not recover in October, and the month was unusually weaker than the previous month’s sales, even though it was closer to Christmas and New Year. Aprindo chairman Tutum Rahanta said low-purchasing power had sparked the weak sales in October. “The weakening of the rupiah, which affected the prices of goods, combined with stagnant […]

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Thailand: More cryptocurrency control urged

Deputy Prime Minister Wissanu Krea-ngam is calling for more measures to control digital currencies, which can be abused to fund terrorism. The negative impact of digital currencies has been discussed for some time, with several legal measures implemented to prevent their misuse. However, more efforts — both domestically and internationally — are needed to keep up […]

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Philippines: Trade gap widens to $3.93 billion in Sept 2018

MANILA, Philippines — Philippine imports hit an all-time high in September while exports remained weak, bringing the trade deficit to $3.93 billion, the highest in nine months amid sustained purchase of capital goods needed for the government’s ambitious infrastructure program, the Philippine Statistics Authority (PSA) reported yesterday, a day before the release of third quarter economic performance. […]

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Myanmar-Laos border gate receives international status

The border gate between Myanmar and Laos has been upgraded and given international status, according to the Ministry of Labour, Immigration and Population. The ministry has upgraded the Wan Pong check point in Tachilek, Shan State, making it an international border entry point for Myanmar and Laos. It has also opened the Myanmar-Laos Friendship Bridge […]

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Grab partners Thailand’s KBank to launch e-wallet in 2019, gets US$50m investment from bank

GRAB on Thursday announced a partnership with Thailand’s Kasikornbank (KBank) to launch mobile payment application GrabPay by KBank. The mobile wallet, which is slated to be launched as soon as early 2019, will allow Grab customers to pay for transport and delivery services, transfer funds, purchase products and services online, and make QR-code payments in restaurants and shops across Thailand. […]

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