SINGAPORE entered what might be its deepest – if not longest – recession in the second quarter, as gross domestic product (GDP) plummeted a record 12.6 per cent year on year due to Covid-19 measures and weak external demand, Ministry of Trade and Industry (MTI) advance estimates showed on Tuesday. Though Q2 might mark a […]
Read MoreAs car sales continue to reduce, local importers have asked authorised agencies to apply a 50% reduction in registration fees for imported cars in order to remove discriminatory tax reduction currently used for only locally-assembled vehicles. The European Chamber of Commerce (EuroCham) noted in its newly-released Whitebook on the year’s investment issues affecting the business […]
Read More[SINGAPORE] Clobbered by the crushing effects of the coronavirus pandemic, thousands of retailers from Bangkok to Singapore have rushed to set up online shops on big e-commerce platforms to stay afloat this year. Now entire shopping malls are going virtual for the first time. Marina Square Shopping Mall – nestled among luxury hotels and popular […]
Read MoreSINGAPORE and Malaysia are aiming to restart cross-border travel by Aug 10 for long-term pass holders and essential business and official travellers. While it would bring some relief to Malaysian employees stuck here, and the employers supporting them, industry observers say it won’t be a panacea for all the issues that affected parties are currently […]
Read MoreThailand’s economy is expected to take two years to fully recuperate, assuming there is widespread administration of a coronavirus vaccine, says the Bank of Thailand’s chief. “The intermittent outbreaks are also accounted for under the central bank’s predictions,” said governor Veerathai Santiprabhob. “New infections of 20-30 cases per day are manageable under the country’s public […]
Read MoreU Maung Maung Win, Deputy Minister of the Ministry of Planning, Finance, and Industry, forecasted that the country’s GDP growth in the 2020-21 Fiscal Year targeting to reach K125.803 trillion. There are multi-sectoral collaborations going on to stabilize the price, strengthen local currency, and minimize inflation, he said during the Parliament session on July 13. […]
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