SINGAPORE (BLOOMBERG) – Singapore is bracing itself for a sharper economic contraction this year than an earlier forecast of a slump of as much as 4 per cent, as the coronavirus pandemic continues to spread globally and disrupts supply chains. The city-state is “very likely” to see a steeper fall in gross domestic product (GDP), Trade and Industry Minister […]
Read MoreGEORGE TOWN, April 23 — Penang has decided to allow electrical and electronic shops, along with full-service laundry shops in the state to reopen from tomorrow onwards, Penang Chief Minister Chow Kon Yeow announced today. He said these sectors have applied and obtained approval from the Ministry of International Trade and Industry (Miti) to reopen […]
Read MoreThe Hanoitimes – In the East Asia and Pacific region, Vietnam ranked third after China and the Philippines. Vietnam was the ninth largest remittance recipients globally with an inflow of US$17 billion in 2019, accounting for 6.5% of its GDP and slightly increasing from US$16 billion received in 2018, according to the World Bank’s latest data. […]
Read MoreThailand’s chicken exports are likely to grow by 10% this year, boosted by higher demand in light of the Covid-19 outbreak. Anan Sirimongkolkasem, president of the Thai Broiler Processing Exporters Association, said Thailand’s chicken exports are estimated to rise by 33 billion baht this year to 140 billion, although foreign purchase orders may drop in […]
Read MoreThe government will defer land lease payments for six months for a total of 47 state-owned and private hotels in Myanmar to ease the pressure wrought by COVID-19, the Ministry of Hotels and Tourism announced on April 21. The next land lease payment is due September 30. Hotels which are no longer in operation are […]
Read MoreThe Hanoitimes – On top of weak economic activity and low credit demand, the Covid-19 crisis macroprudential measures announced by the central bank will weigh heavily on banking sector profits for 2020. Fitch Solutions, a subsidiary of Fitch Group, has revised its credit growth forecast for Vietnam to 8% in 2020, from 11% previously, due to […]
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