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Fitch: Philippines to shrink by 8% this year

MANILA, Philippines — Global rating agency Fitch Ratings expects the Philippines to suffer a deeper economic contraction of eight percent this year, and noted a continued erosion of the country’s fiscal buffers amid the coronavirus pandemic. In a report, Fitch Ratings said the Philippine economy may decline by much more than the previous estimate of […]

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Singapore wants ‘the world’s best and brightest’ but takes a serious view against discriminatory hiring, says minister

SINGAPORE, Sept 8 — With the increased scrutiny on the issue of foreign talent in Singapore leaving some companies anxious, Trade and Industry Minister Chan Chun Sing today reassured businesses that Singapore will continue being open to top international talent. “Let me be clear — we want the world’s best and brightest to be with […]

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Thailand: Exporters want action on logistics costs

The government is being urged to speed up tackling rising logistic costs for exporters and boosting the country’s overall export competitiveness. Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers’ Council (TNSC), said exporters are feeling the pinch from logistics costs, particularly for maritime transport as freight rates have risen on a continuous basis, especially for […]

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Indonesia’s e-commerce sales to surpass India’s

Management consulting company Redseer projected Indonesia’s online retail gross merchandise value (GMV), which indicates overall sales value, to surpass India’s this year, driven by a new cohort of e-commerce users amid the pandemic. Redseer Southeast Asia partner Roshan Raj Behera said Indonesia’s 2020 e-commerce GMV will reach US$40 billion this year, the third-highest in the world and higher […]

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