SINGAPORE banks posted lower profits for the third quarter of this year from a year ago, as the trio continued to bulk up provisions to cushion against bad loans as a result of the Covid-19 crisis. While staying cautious, they point to a recovery in business momentum as regional economies emerge from lockdowns, and note […]
Read MoreThe Small and Medium Enterprise (SME) Bank of Cambodia will commence banking operations today. It is on the corner of Street 51 (Pasteur) Street 126 (Prey Nokor), Phsar Thmei Ti Muoy, Commune, Daun Penh District, in Phnom Penh. As a state-owned policy bank, it aspires to be consistent and has aligned itself with the strategic […]
Read MoreThai banks’ profitability will deteriorate as interest rates stay low for a prolonged period as the central bank maintains a loose monetary policy to fight the sharp economic downturn caused by the coronavirus outbreak, says Moody’s Investor Service. Narrowing net interest margins (NIMs), combined with weakening loan growth, will reduce net interest income, the main […]
Read MoreMANILA, Philippines — Exports rose in September, the first time since February, boosted by demand from China which is already recovering from the pandemic, the Philippine Statistics Authority (PSA) reported yesterday. Total export sales grew by 2.2 percent to $6.22 billion in September, coming from a 12.8 percent annual decline in August when outbound sales […]
Read MoreManufacturing activity declined further in October as manufacturers cut back on production and reduced workforce amid weak demand, showing further signs of sluggish economic recovery in the fourth quarter. The manufacturing gauge Purchasing Managers’ Index (PMI) survey data published by IHS Markit on Monday showed that the PMI had risen from 47.2 in September to […]
Read MoreForeign direct investment (FDI) applications fell 29% in the first nine months of this year to 118.5 billion, as investors were deterred by the pandemic. The Board of Investment reported on Wednesday the number of foreign direct investment applications totalled 657 projects, compared with 665 projects in the same period of last year. Japan remains Thailand’s […]
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