MANILA, Philippines — The yields of term deposit rates further dropped across the board as banks continued to swarm the liquidity absorption facility of the Bangko Sentral ng Pilipinas (BSP) after a series of interest rate cuts. The seven-day tenor fetched 4.2348 percent, or 1.53 basis points lower than last week’s 4.2501 percent, while the […]
Read MoreThe Bank of Thailand’s rate-setters see the need to keep monetary policy stable to cushion against possible future risks, according to the edited minutes of the Sept 25 meeting. Some committee members thought a policy rate cut might not lend significant additional support to economic growth, given the already accommodative monetary policy, compared with the […]
Read MoreThailand’s competitiveness ranking for 2019 has dropped two spots from 38th to 40th among 141 world economies, despite the government’s Thailand 4.0 programme. The World Economic Forum’s Global Competitiveness Index rankings for 2019 were announced on Wednesday (October 9) at the Chulalongkorn Business School. The drop occurred despite the Thailand 4.0 programme, noted Ass’t Professor […]
Read MoreKUALA LUMPUR: There is no reason for the government to reintroduce the Goods and Services Tax (GST) as frequent changes to the tax system will adversely affect the economy, lower investor confidence and bring a bad image to the country, says Tun Dr Mahathir Mohamad. “Many types of taxes have been introduced, there have been […]
Read MoreThe government is considering forcing online giants such as Amazon.com Inc and Facebook Inc to collect value-added tax on e-commerce sales, echoing an Indonesian clampdown on transactions that skirt the levy. Cross-border purchases by Thais routed through global online marketplaces, as well as booming domestic sales in the so-called social-commerce sector, should incur the tax. […]
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