MANILA, Philippines — The Philippines may rebound from the pandemic-induced recession this year with a gross domestic product (GDP) growth of seven percent, but full recovery may only happen in the third quarter of next year, according to global banking giant Citi. “We keep our 2021 GDP forecast at seven percent and expect a return […]
Read MoreThe Eastern Economic Corridor Office aims to attract 300 billion baht in investment applications for the flagship Eastern Economic Corridor (EEC) this year. Deputy Prime Minister Supattanapong Punmeechaow, who chaired a meeting of a subcommittee on EEC policy, said on Monday the government is ready to come up with proactive approaches to achieve this target. The […]
Read MoreMANILA, Philippines — Local factories returned to expansion mode in the first month of the year, with manufacturers ramping up production as demand slowly get back to pre-pandemic levels. Results of a monthly survey of 400 companies showed the Philippines’ purchasing managers’ index — a measure of manufacturing output — rose to 52.5 in January, […]
Read MoreThe United Nations has declared this year the International Year of Creative Economy for Sustainable Development. Indonesia, having sponsored the proposal and proposed the theme of “Inclusively Creative: A Global Recovery”, will lead the initiative to promote the creative economy, which is expected to become a new driver or prosperity. The creative economy is an […]
Read MoreYANGON: All Myanmar banks were closed nationwide on Monday following a military coup, declaration of a state of emergency and the detention of de facto civilian leader Aung San Suu Kyi. “All member banks of Myanmar Banks Association are to close their bank unanimously starting from February 1,” according to an announcement by the association, […]
Read MoreIt is feasible Thailand could receive 5 million international arrivals this year, half the original forecast of 10 million as the pandemic continues to ravage the tourism industry worldwide, according to the Tourism and Sports Ministry. “If we can attract 5 million tourists this year under the current circumstances, that would be a success,” said […]
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