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Philippines faces FATF sanctions

MANILA, Philippines — The Philippines is in danger of being included anew in the gray list of Paris-based dirty money watchdog Financial Action Task Force (FATF) if the country fails to pass the necessary amendments to the anti-money laundering law, according to the Anti-Money Laundering Council (AMLC). AMLC Secretariat executive director Mel Georgie Racela said […]

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Malaysia: Improving trend to continue

The Asean-5 economies are in a technical recession based on their second quarter gross domestic product (GDP) figures and this is induced by the Covid-19 pandemic. Malaysia, Indonesia, the Philippines, Singapore and Thailand implemented lockdowns and this had disrupted economic activities in almost all areas be it domestic or export-oriented. Sectors worst hit include travel, […]

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Cambodia: Industry to promote sustainable energy

The Garment Manufacturers Association of Cambodia in collaboration with the Global Green Growth Institute (GGGI) and GERES – the Group for the Environment, Renewable Energy and Solidarity, an international development nongovernmental organisation set up in Marseille in 1976 – is jointly implementing the project called the Promotion of Sustainable Energy Practice in the Garment Sector, […]

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Thailand: THA draws up support plan

The pandemic has accentuated the imbalance in the oversupply of hotels and low demand, with most operators struggling to break even, according to the Thai Hotels Association (THA). About 1 million hotel staff were laid off and demand for labour in the sector shrank by 75% because half the hotels nationwide remain closed, according to […]

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