MANILA, Philippines — Big banks in the Philippines need to hold off online rivals as the Bangko Sentral ng Pilipinas (BSP) is set to issue the guidelines for digital banks within the year, according to S&P Global Ratings. The debt watcher said established banks have to make aggressive moves to counter the rising market penetration […]
Read MoreJAKARTA: Indonesia’s budget deficit was estimated at 682.1 trillion rupiah (US$46.56bil) in the January-September period, equivalent to 4.16% of gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati said. The government has forecast a fiscal deficit of 6.34% of GDP for 2020, the widest in decades, due to increased spending on the Covid-19 pandemic response. […]
Read MoreMANILA, Philippines — Philippine banks have sufficient buffers to survive the impact of the COVID-19 pandemic on the economy, according to the Bangko Sentral ng Pilipinas (BSP). In a virtual sovereign investor forum organized by Standard Chartered Bank, BSP Governor Benjamin Diokno said the banking industry’s capital adequacy ratio (CAR) stood at 15.3 percent on […]
Read MoreFor many people, the news that automobile manufacturers have paid high amounts of tax to the state in the context of slow auto sales indicates that cars are being sold at sky-high prices in Vietnam. The 30 biggest taxpayers named by the General Department of Taxation (GDT) include two automobile manufacturers – Toyota Vietnam and […]
Read MoreMore than 260,000 applicants received approval to restructure their loans from microfinance institutions as of October. The Cambodia Microfinance Association (CMA) is now discussing with its members about extending loan restructuring to next year, according a senior officer of the Microfinance Association (CMA). Kaing Tongngy, head of CMA’s communications department, said the trend of requesting […]
Read MoreThe Commerce Ministry expects gems and jewellery exports including gold to grow by 20% next year, boosted by expected easing of the pandemic, relaxation of lockdown measures and online sales expansion and gems fairs. Somdet Susomboon, director-general of the International Trade Promotion Department (DITP), is optimistic about next year’s outlook, with exports of gems and […]
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Thailand
