MANILA, Philippines — The peso slightly recovered yesterday, closing at 54.07 to $1, up four centavos from Monday’s 54.11 to $1. The currency opened slightly weaker at 54.15 compared to the previous day’s level of 54.1 to $1 and reached an intra-day high of 54.06 to $1. Total volume reached $766.45 million, lower than the […]
Read MoreThe cabinet has approved a value-added tax (VAT) payback plan for welfare recipients. The scheme is intended to create more disposable income for low-income earners while strengthening their purchasing power. The six-month scheme, capped at 500 baht a month, will start in November next year. Based on the current 7% VAT rate, welfare smart card […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) yesterday expressed confidence that the Philippine economy can overcome “temporary adversities,” such as high inflation and a widening current account deficit. While recognizing that the country is indeed facing some headwinds, Finance Secretary Carlos Dominguez said the local business community should also take a look at the […]
Read MoreJAKARTA: Indonesia has laid out new rules for commodities exporters to guarantee funding for shipments through Indonesian banks or branches of foreign banks in the country, the trade minister said on Tuesday, part of a bid to prop up the ailing rupiah. The Indonesian currency <IDR=> has fallen about 9 percent versus the dollar this year, caught up in broader selling of emerging […]
Read MoreLondon-based IHS Markit, a global information provider, forecasts the overall electric vehicle (EV) fleet in Thailand to reach 600,000 cars by 2030. Thailand is the major EV market in Southeast Asia, where the total is expected to hit 900,000 cars regionally in the same time frame from 40,000 projected in 2018, said research analyst Siri Kanjanasiri, […]
Read MoreKUALA LUMPUR: E-commerce platform Shopee achieved a new milestone with the highest-ever single day sales performance in its history with over 5.8 million orders recorded; amounting to three times more than an average day. This was accomplished during its Shopee 9.9 Super Shopping Day, its biggest annual regional shopping event of the year on September 9, 2018. […]
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