Myanmar has granted operating licences to seven Asian banks, bringing to 20 the number of foreign banks allowed to do business in the previously isolated market. Bank of China (Hong Kong), Taiwan’s Cathay United Bank and Mega International Commercial Bank, Industrial Bank of Korea, Seoul-based KB Koomin Bank, Korea Development Bank and Siam Commercial Bank […]
Read MoreFirst, the store doors shut. Now, the walls are closing in. Retailers have furloughed hundreds of thousands of workers, cut executive pay and stopped paying rent, all to conserve cash. For the most indebted retailers, particularly those already struggling before the crisis began, those measures may not be enough. Neiman Marcus Group Inc. and J.C. […]
Read MoreMANILA, Philippines — The World Bank has added to the Philippines’ fund pool to counter the impact of the coronavirus disease-2019 (COVID-19) on the economy after the agency approved a $500-million loan to the government. In a statement, the Washington-based lender said the amount is a “risk management development policy loan,” which is primarily intended […]
Read MoreKUALA LUMPUR: The government’s Economic Action Council (EAC) has started work on post Covid-19 recovery plan and it is engaging various stakeholders to come up with a draft plan to be released in a couple of weeks. Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said this was to ensure it was […]
Read MoreThe Cambodian passport remains one of the ‘least powerful’ travel documents in the world, according to a new report. The latest Henley Passport Index, released by Henley & Partners, showed that Cambodia dropped one spot and is now ranked 89th globally. Early last year, the Kingdom was in the 87th spot, before sliding to 88th, […]
Read MoreThe COVID-19 pandemic, which is spreading like wildfire in Indonesia, has taken not just lives but also the earnings of millions of workers, one month after the government announced Indonesia’s first two confirmed cases of the virus. Jumari, a 61-year-old who works in a shoe factory and lives in Jakarta, has not received his daily […]
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Thailand
