The growing number of newly established enterprises shows the local economy is firmly on the recovery track, being an attractive destination for businesses. The number of newly established enterprises in the first four months of 2021 rose by a record rate of 17% year-on-year to nearly 44,200, according to the Business Registry Agency. Such figure […]
Read MoreMANILA, Philippines — Metro Manila, the main economic hub which became the epicenter of the COVID-19 outbreak in the country, suffered a 10.1 percent contraction in output last year as mobility restrictions took a toll on services crucial to growth. In the latest Regional Accounts of the Philippines report released by the Philippine Statistics Authority […]
Read MoreThe Bank of Thailand (BoT) and the Monetary Authority of Singapore (MAS) have embarked on a digital payment linkage between the two countries via the PromptPay and PayNow systems. The Thai central bank and the central bank and financial regulatory authority of Singapore on Thursday unveiled the linkage of Thailand’s PromptPay and Singapore’s PayNow real-time retail […]
Read MoreBUSINESS optimism in Singapore’s manufacturing and services sector continues to rise, with more firms seeing better conditions in the six months ahead, according to quarterly surveys released on Friday. In the manufacturing sector, a net weighted balance of 38 per cent of firms expect favourable business conditions for the six-month period from April to September, […]
Read MoreOutflow of speculative funds down to 67% in Q1 MANILA, Philippines — The net outflow of speculative funds invested in the Philippines slowed by 67.4 percent to $483.45 million in the first quarter amid the improving global economic outlook and the rollout of COVID-19 vaccines, the Bangko Sentral ng Pilipinas (BSP) said. Data released by […]
Read MoreThe Finance Ministry’s Fiscal Policy Office (FPO) on Thursday slashed its economic growth forecast for the second time to 2.3% this year from its earlier prediction in January of 2.8% and 4.5% in Oct 2020, attributing largely to the battered tourism sector due to the Covid-19 pandemic. Kulaya Tantitemit, director-general of the FPO, said the […]
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Thailand
