MANILA, Philippines — Congress has given Petron Corp. a lifeline, exempting petroleum refineries from taxes and duties on crude oil imports. Petron president and CEO Ramon Ang had warned last year that the company would shut down its petroleum refinery in Bataan, which directly employs about 1,000 people, unless the government leveled the playing field […]
Read MoreKUALA LUMPUR: Malaysia’s economy is estimated to have contracted by 2.8% in 4Q 2020, amid the restrictions imposed under the conditional movement control order (CMCO), according to RAM Ratings. It said on Tuesday, this will be the third consecutive quarter of contraction in 2020, leading to a 5.4% contraction for the year, compared with the […]
Read MoreSCG Packaging (SCGP) is joining hands with its Vietnamese partners under a 10-billion-baht investment to expand its packaging solution business in Vietnam, where demand for packaging products is growing. The latest move is the signing of a share purchase agreement yesterday to acquire a 70% stake in Duy Tan Plastics Manufacturing Corporation, Vietnam’s top producer […]
Read MoreMANILA, Philippines — The gross non-performing loan (NPL) ratio of Philippine banks eased to 3.61 percent in December after accelerating for 11 straight months in 2020, according to the Bangko Sentral ng Pilipinas (BSP). The latest NPL level was lower than the 3.78 percent recorded in November, but higher than the 2.04 percent recorded in […]
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Thailand
