MANILA, Philippines — Consumer loans posted their first ever quarterly decline in June despite record-low borrowing costs, adding concerns to a government counting on banks to rescue the economy from a pandemic-induced recession and stimulate spending. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed loans extended to households declining to P2 trillion as […]
Read MoreGrab and MoMo are veterans in their core business fields, but they are the newcomers in the e-commerce market. The e-commerce field in Vietnam is expected to become busier in the time to come with the presence of Grab, a ride-hailing app, and MoMo, an e-wallet. Grab began earlier, and it is already seeing an […]
Read MoreBank Indonesia (BI) has decided to leave its interest rate unchanged to safeguard financial market stability as the current coronavirus-induced economic downturn and concerns over the central bank’s independence weigh on the currency. The benchmark seven-day reverse repo rate will remain at 4 percent, while deposit facility and lending facility rates were also kept at […]
Read MoreBusiness sentiment rose for the third straight month in August, the highest in 12 months, boosted by the relaxation of coronavirus lockdown measures, higher farm product prices, and a recovery of sales for pickups, electrical appliances and agricultural machines. The University of the Thai Chamber of Commerce (UTCC) said yesterday business confidence rose to 32.6 […]
Read MoreThe Hanoitimes – The country would remain the fastest growing economy in Southeast Asia, which is expected to bounce back to 6.8% in 2021. Due to the complicated progression of the Covid-19 pandemic globally, the Asian Development Bank (ADB) has revised down Vietnam’s GDP growth forecast to 4.1% for this year from the previous 4.8%. The […]
Read MoreDeveloping Asia will likely clock up its weakest growth in nearly six decades this year, the Asian Development Bank (ADB) said on Thursday, as measures to contain the contagious novel coronavirus hammer economic activity. Developing Asia, a group of 45 countries in the Asia-Pacific region, is expected to post growth of just 0.1% in 2020, […]
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Thailand
