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Thailand: Fear of SME impact from minimum wage hike

Promises to hike the daily minimum wage will incentivise investors to relocate production bases to offset the higher wage burden, with financially strained small companies among those to be hit hardest, say business executives.  “We will have to follow government regulation [on the daily minimum wage], but generally speaking investors will relocate their production bases because […]

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Philippines: Weaker peso seen as imports flood in

MANILA, Philippines — The peso moved sideways yesterday ahead of the rate setting meeting of the Bangko Sentral ng Pilipinas (BSP) wherein interest rates are expected to remain unchanged amid easing inflation. The local currency shed two centavos to close of 52.81 to $1 from Tuesday’s 52.83 to $1. It opened weaker at 52.9 to […]

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Myanmar: Legislature beefs up consumer protections

The Pyidaungsu Hluttaw (Assembly of the Union) passed amendments to improve consumer rights in the country on Friday. Under the amendments to the 2014 Consumer Protection Law, a consumer protection commission and committee will be formed, said U Swe Tint Kyu, director of the Department of Consumer Affairs. A new commission instead of a central committee […]

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Malaysia: Ringgit opens to eight-month high against USD

KUALA LUMPUR: The ringgit climbed to an eight-month high today against the US dollar after the US Federal Reserve indicated it will not raise interest rates this year. As of 9am, the local currency stood at 4.0540/0580 against the greenback compared with Wednesday’s close of 4.0650/0690. Maybank Kim Eng research said the signal of a […]

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