MANILA, Philippines — Local carriers are expected to undertake more cost-cutting measures that may include workforce reduction should the travel ban on major markets persist amid the spreading coronavirus. Air Carriers Association of the Philippines Inc. (ACAP) executive director and vice chairman Roberto Lim told The STAR that the local aviation industry is taking a […]
Read MoreIndonesia’s central bank sees “ample” room for both monetary and macroprudential policy easing as the coronavirus is seen dragging down Indonesia’s economic growth in the first quarter. Bank Indonesia (BI) Governor Perry Warjiyo said Wednesday that unlike developed countries, Indonesia had the luxury of various fiscal and monetary measures to stimulate the economy. The statement follows […]
Read MoreThe General Department of Taxation (GDT) has cautioned that the COVID-19 outbreak will drive down the revenues they are able to collect in the coming months. It potentially scuppers their target of collecting $2,886 million in tax revenues this year, a 20 percent increase on 2019. Speaking at the Obligation of Tax on Income, E-Filing […]
Read MoreThe Federal Reserve’s emergency rate cut will put pressure on the Bank of Thailand to follow in the US central bank’s footsteps, according to a senior official at the Fiscal Policy Office (FPO). “If the Bank of Thailand finds the economy would grow at a slower pace than expected, it will be another factor that […]
Read MorePETALING JAYA: The overnight policy rate (OPR) cut, coupled with the economic stimulus package, should buffer the impact of Covid-19 outbreak on the economy. The domestic economy is slated for a gradual pickup in the second half of the year, in line with the stimulus package and OPR rate cut gradually taking effect. However, this […]
Read MoreAs virus outbreak spreads MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is expected to further cut interest rates anew this month to support the economy as central banks around the world, led by the US Federal Reserve, cut their benchmark interest rates in the face of the spreading coronavirus. American banking giant JP […]
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