MANILA, Philippines — The ratio of the country’s consolidated general government debt to gross domestic product (GDP) slightly eased to 34.1 percent in 2019 on the back of the government’s prudent debt management strategy, according to the Department of Finance (DOF). In a statement, the DOF said the general government debt as of end-December 2019 […]
Read MoreVietnam has emerged as a popular destination for industrial property projects as increased labour costs, trade disputes and COVID-19 prompt global manufacturers to vary their supply chains throughout Asia, according to CBRE. The US-China trade conflict benefited Viet Nam’s industrial property market in 2019 as manufacturers began shifting production to alternative markets. Average asking rents […]
Read MoreMore than 1,000 people at two companies have lost their jobs due to the ailing economy. In Nakhon Sawan, more than 800 workers received an unpleasant surprise when they arrived for work at a swimwear factory on Friday, but were instead greeted by a sign saying they had all been laid off because of the […]
Read MoreMANILA, Philippines — Economists expect inflation to remain benign at 2.5 percent in July due to weak demand for goods owing to the coronavirus pandemic. Ruben Carlo Asuncion, chief economist at Union Bank of the Philippines, said consumption demand remains tepid amid the COVID-19 outbreak. Global oil prices would also remain subdued, keeping price levels […]
Read MoreUp to 40,000 employees in the footwear manufacturing sector have already been impacted in the first half of this year, a direct impact from the ongoing COVID-19 pandemic which shows no signs of respite. In addition, with the ongoing health crisis and dwindling demands, a further 40,000 employees in the industry are at risk of […]
Read MoreMANILA, Philippines — Economic output likely contracted by as much as 20 percent in the second quarter, making the Philippines one of the worst-performing economies in Asia, said London-based think tank Capital Economics. The firm said the country’s performance during the quarter will be similar to that of Thailand, which saw a severe decline in […]
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