SINGAPORE — Singapore plunged into recession in the second quarter as growth fell 41.2 percent quarter-on-quarter with the trade-dependent economy hammered by the coronavirus, preliminary data showed Tuesday. Year-on-year, the economy shrank 12.6 percent between April and June, according to the data from the trade ministry, as strict curbs were imposed to fight the virus. […]
Read MoreThe Hanoitimes – Under the revised regulation, local oil and petrol traders are now allowed to transfer their stakes to foreign investors but foreign ownership should not exceed 35%. Vietnam’s Ministry of Industry and Trade (MoIT) has proposed the government to allow foreign investors to join the local petroleum retail market, local media reported. The move […]
Read MoreBangkok Bank (BBL) is conducting a feasibility study on applying the retail business model of its Indonesian subsidiary PT Bank Permata to the bank’s international network. The strong digital banking platform of Permata could open more opportunities in retail banking business for BBL in the regional market, said BBL’s executive vice-president Suwatchai Songwanich. BBL, Thailand’s […]
Read MoreRESALE prices of non-landed private homes were stable in June, with sales volume recovering from the previous month, according to flash figures from real estate portal SRX Property on Tuesday. An estimated 497 units were resold last month, representing a 174.6 per cent increase, or more than double the 181 units resold in May this […]
Read MoreKUALA LUMPUR (BERNAMA) – Retail Group Malaysia (RGM) has revised downwards its earlier forecast of the retail industry’s performance this year, projecting a larger sales contraction of 8.7 per cent compared to the 5.5 per cent forecast in April. It said Malaysia Retailers Association (MRA) members interviewed had projected an average year-on-year (y-o-y) growth rate of -28.8 […]
Read MoreMANILA, Philippines – Excise taxes collected by the Bureau of Internal Revenue (BIR) from large taxpayers in the first half went down year-on-year, but still managed to exceed the target amid the slowdown in economic activity caused by the coronavirus disease 2019 or COVID-19 pandemic. According to preliminary data from the Department of Finance (DOF), […]
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Thailand
