MANILA, Philippines — The financial and operational performance of low-cost carriers Cebu Pacific and AirAsia Philippines suffered severely last year due to the pandemic. Cebu Pacific yesterday reported a P22.2 billion net loss in 2020, a reversal of the P9.12 net income in 2019. The airline said it flew five million passengers last year, 78 […]
Read MoreMany commercial banks have adjusted their preferential home loan interest rates, ranging from 5.99 percent to 9.5 percent per annum. In early March, a number of banks announced a 0.3-2 percent interest rate cut for home loans. Sacombank is offering an interest rate of 9.5 percent instead of 11.5 percent, while Eximbank has eased the […]
Read MoreCar and beer sales are recovering vigorously, resulting in a surge of excise tax revenue collection by the Excise Department from the two products for the first five months of fiscal 2021. Lavaron Sangsnit, director-general of the Excise Department, said the overall economy has gradually recovered as reflected by the department’s tax revenue collection in […]
Read MoreMoody’s Investors Service upheld Cambodia’s B2 stable rating in its Inside ASEAN report. “Cambodia’s credit profile balances its strong growth trajectory, robust fiscal metrics and low external vulnerabilities against financial stability risks stemming from sustained, high credit growth compounded by weak institutions and high dollarisation,” the credit opinion read. The US-based rating agency determines a […]
Read MoreMANILA, Philippines — Banks are expected to dispose about P152 billion worth of non-performing assets (NPAs) under a new law allowing the industry to offload soured loans, even at substantial discount, to ensure a sound and safe financial system amid the global health crisis, according to the Bangko Sentral ng Pilipinas (BSP). BSP Governor Benjamin […]
Read MoreKUALA LUMPUR: Bank Negara projects a domestic economic rebound of between 6% and 7.5% in 2021 although progress will be uneven and shaped by the course of several factors including the Covid-19 pandemic and vaccine rollout. The central bank said in its 2021 outlook and policy report that other factors that play a role in […]
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Thailand
