MANILA, Philippines — Singapore-based DBS Bank Ltd. expects the Philippine economy to slump this year by as deep as four percent for the first time in more than two decades amid the high number of new cases of coronavirus disease 2019 or COVID-19, adding to an already sizeable number of existing cases. In a report, […]
Read MoreThe recent layoffs in Indonesia’s two decacorn ride-hailing apps Gojek and Grab have forced the start-ups to reassess their pursuit of becoming “super-apps” as the pandemic has pushed them to retire some of their non-core businesses, experts have said. Starting their businesses as ride-hailing applications, both Grab and Gojek have been racing to become apps […]
Read MoreVietnam’s economy unexpectedly grew in the second quarter, though at the slowest pace in at least a decade, as exports slumped because of the coronavirus pandemic. Gross domestic product rose 0.36% from a year earlier, compared with a revised 3.68% in the first quarter, the General Statistics Office said Monday in Hanoi. The median estimate […]
Read MoreThe International Monetary Fund (IMF) on June 26 approved a disbursement to Myanmar equivalent to US$118.8 million under its Rapid Credit Facility (RCF) and a purchase equivalent to $237.7 million under its Rapid Financing Instrument (RFI). This will help meet the country’s balance-of-payments and fiscal needs arising from the COVID-19 pandemic and support the government’s […]
Read MoreVietnamese transport firms wherein foreign investors contribute over 51% of the chartered capital will not be licensed, according to the Ministry of Transport. Recently, some transport firms with over 51% of foreign stake had questions about the investment in vehicles for the road transport business. In response, the Ministry of Transport stated in a document […]
Read MoreKUALA LUMPUR: Malaysia has called for cohesive economic measures among Asean member states to build socioeconomic resilience in mitigating the impact of Covid-19, said the International Trade and Industry Ministry (Miti). In a statement on the 36th Asean Summit, Miti said Prime Minister Tan Sri Muhyiddin Yassin stressed that leaders, in moving beyond efforts to […]
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Thailand
