The Bank of Thailand plans to issue new bonds based on the Thai Overnight Repurchase Rate (THOR) next year, aiming to encourage the use of the new reference rate after the upcoming phase-out of the London Interbank Offered Rate (LIBOR). THOR, in effect since April this year, was developed to replace LIBOR as the interest rate […]
Read MoreJAKARTA: The unexpected decision to put Indonesia’s capital back into a tougher lockdown has surprised analysts and investors and threatens to prolong the recovery of South-East Asia’s largest economy. With Jakarta accounting for around 20% of the country’s GDP, the decision could cause the Indonesian economy to contract for a third consecutive quarter, upsetting an […]
Read MoreNine Vietnamese fragrant rice varieties will enjoy tariff export quotas to Europe under the Europe-Vietnam Free Trade Agreement (EVFTA) agreement. As part of the agreement, the EU will give Viet Nam a quota of 80,000 tonnes of rice with a zero-per-cent tax rate per year, including 30,000 tonnes of milled rice, 20,000 tonnes of unmilled […]
Read MoreMANILA, Philippines — More Filipinos may be dragged back to poverty by the pandemic next year, a scenario that senators quizzing economic managers on the 2021 budget calls for more government support. By the Duterte administration’s estimates, between 15.5% and 17.5% of the population may be designated as poor next year, Acting Socioeconomic Planning Secretary […]
Read MoreThe Asian Development Bank has approved a $127.8 million loan to support the construction of transmission lines and substations to help provide Phnom Penh and three other Cambodian provinces with stable and reliable electricity supply. The project will also pilot the first utility-scale battery energy storage system in Cambodia, which will be funded by a […]
Read MoreTwo giant foreign IT firms have expressed interest in spending 30-40 billion baht each in investment in the Digital Park Thailand, a 700-rai area in Chon Buri meant to serve as a regional hub for digital innovation, says Buddhipongse Punnakanta, digital economy and society (DES) minister. He said one firm is American. He declined to […]
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