THE Rizal Commercial Banking Corp. (RCBC) further trimmed its growth estimate for the Philippine economy this year to between -1.5 and 0.5 percent after taking into account the impact of the Luzon-wide enhanced community quarantine (ECQ) on the country’s economic activities. The forecast is a downgrade from the Yuchengco-led lender’s previous gross domestic product (GDP) […]
Read MoreThe COVID-19 pandemic is putting severe growth pressure on the economies of Cambodia, Laos, Myanmar and Vietnam (CLMV) and may cause the region’s growth to slip to a historical low, according to a Maybank Kim Eng report. CLMV’s GDP growth is forecast to slow sharply to 3 percent in 2020, down from 6.9 percent in […]
Read MoreKUALA LUMPUR, April 30 — Exports of palm oil products had declined significantly by 34.8 per cent year-on-year (y-o-y) or 793,257 tonnes to 1.48 million tonnes during the movement control order (MCO) period up to April 14, 2020, from 2.28 tonnes recorded in the same period last year. Crude palm oil (CPO) and processed palm oil exports fell […]
Read MoreSINGAPORE – Manufacturing and services firms are negative on business prospects for the next six months, amid the Covid-19 pandemic which has cast a pall over the global economy. Their bleak sentiments were noted in two surveys released by the Economic Development Board (EDB) for the manufacturing sector and the Department of Statistics (Singstat) for […]
Read MoreRice exports will resume in May at regular volumes of 150,000 tonnes for the month of May, the Myanmar Rice Federation (MFR) announced on April 28. 100,000 tonnes will shipped overseas while the remaining 50,000 tonnes will be traded at the border. More than 2 million tonnes of rice will be allocated for export in […]
Read MoreMANILA, Philippines — Loans for micro, small and medium enterprises (MSMEs) now carry a lower credit risk weighting to encourage banks to lend more to the sector as the coronavirus disease 2019 or COVID-19 has severely disrupted economic activity across the country, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said the […]
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