KUALA LUMPUR: Malaysia Rail Link Sdn Bhd (MRL) has instructed China Communications Construction Ltd (CCCC) to suspend all works under the engineering, procurement, construction and commissioning contract (EPCC) of the East Coast Rail Link project with immediate effect. Theedgemarkets.com reported on Wednesday that it had sighted a letter from MRL instructing CCCC to suspend all […]
Read MoreSINGAPORE’s economy should continue to expand in 2018 although protectionism risks have risen, said Ravi Menon, Monetary Authority of Singapore managing director. Overall growth in gross domestic product (GDP) is expected to come in at around 2.5–3.5 per cent in 2018, he said. “While the central prognosis for the Singapore economy this year remains intact, […]
Read MoreCabinet has decided to keep value-added tax at the current rate of 7% for another year, from Oct 1 to Sept 30, 2019. Nathaporn Jatusripitak, adviser to the prime minister’s office minister, said the cabinet made the decision on Tuesday. The current 7% VAT rate will expire at the end of September. What VAT was […]
Read MoreBank of Thailand governor Veerathai Santiprabhob has warned that the baht’s volatility will remain high in the foreseeable future, prompted by tightened monetary policy in advanced economies and tit-for-tat trade tariffs among economic behemoths. Foreign exchange volatility should persist, affecting both money and capital markets across the globe, but the situation is not worrisome as Thailand […]
Read MoreThe Bank of Thailand plans to launch a new series of banknotes, codenamed Series 17, on July 28 as part of the national celebrations for His Majesty the King’s 66th birthday, Bank of Thailand governor Veerathai Santiprabhob announced Tuesday. The printing of the Series 17 notes has won approval from the King already and they will […]
Read MoreLogistic costs in Indonesia are higher than those in other countries. Committee for Acceleration of Priority Infrastructure Delivery (KPPIP) chairman Wahyu Utomo said 72 percent of logistic costs went to transportation. Citing data from the Logistic Report Index 2016 by the World Bank, Wahyu said Indonesia was in 63rd position out of 160 countries in the […]
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