MANILA, Philippines — Consumer loans posted their first ever quarterly decline in June despite record-low borrowing costs, adding concerns to a government counting on banks to rescue the economy from a pandemic-induced recession and stimulate spending. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed loans extended to households declining to P2 trillion as […]
Read MoreGrab and MoMo are veterans in their core business fields, but they are the newcomers in the e-commerce market. The e-commerce field in Vietnam is expected to become busier in the time to come with the presence of Grab, a ride-hailing app, and MoMo, an e-wallet. Grab began earlier, and it is already seeing an […]
Read MoreBank Indonesia (BI) has decided to leave its interest rate unchanged to safeguard financial market stability as the current coronavirus-induced economic downturn and concerns over the central bank’s independence weigh on the currency. The benchmark seven-day reverse repo rate will remain at 4 percent, while deposit facility and lending facility rates were also kept at […]
Read MoreBusiness sentiment rose for the third straight month in August, the highest in 12 months, boosted by the relaxation of coronavirus lockdown measures, higher farm product prices, and a recovery of sales for pickups, electrical appliances and agricultural machines. The University of the Thai Chamber of Commerce (UTCC) said yesterday business confidence rose to 32.6 […]
Read MoreReopening the country to foreign visitors will not raise the risks of local Covid-19 transmission from imported infections, according to the Department of Disease Control (DDC). Responding to the cabinet’s resolution to allow long-stay foreign tourists to enter Thailand, Tanarak Plipat, deputy director-general of the DDC, insisted the move would likely not bring in Covid-19 […]
Read MoreMANILA, Philippines — There is no stopping the peso from gaining more strength despite a pandemic-induced recession. The local currency on Wednesday appreciated by one centavo from previous day to close at P48.39 to a dollar. While the peso barely strengthened on a daily basis, the movement was enough for the local currency to notch its […]
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Thailand
