MANILA, Philippines — Without social aid, the economic slump from the coronavirus global pandemic would likely wipe out three decades of gains in fighting poverty, with nearly half of new poor people coming from East Asia and the Pacific, a new study showed. The region, which includes the Philippines, could host “40% of the new […]
Read MorePETALING JAYA: Fitch Ratings has affirmed Malaysia’s long-term foreign-currency issuer default rating (IDR) at “A-”. The agency has however revised the outlook from “stable” to “negative”. According to a statement by Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, yesterday, Fitch has also projected the Malaysian economy to register a growth of 5.8% in […]
Read MoreAs a pre-emerging to emerging economy, Cambodia has been tagged as a “most at risk” country by the World Bank’s recent economic outlook report. But the nation’s Central Bank has stated they have limited measures to administer independent fiscal policy to combat the recent global economic fallout from strict COVID-19 health measures. The World Bank […]
Read MoreThe Hanoitimes – In addition to stimulus packages, the government is scheduled to issue a comprehensive resolution detailing drastic measures to help spur economic growth. The Vietnamese government will take further bold measures to avoid economic contraction and even collapse, according to Prime Minister Nguyen Xuan Phuc. A disruption to socio-economic activities and failure to set […]
Read MoreMyanmar 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. […]
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Thailand
