MANILA, Philippines — The pace of economic recovery in the Philippines would be the slowest in Asia amid a lackluster fiscal response to the pandemic, with the threat of long-term scarring effects now more visible than ever, an international think tank said. In its latest economic outlook report for Emerging Asia, London-based Capital Economics said […]
Read MorePreah Sihanouk province reigns supreme among domestic tourists as the industry undertakes a strategic pivot towards locals. A total of 532,380 domestic travellers visited the coastal province in the first quarter of this year, a 117.9 percent increase over the same period last year. The province attracted nearly 59 percent of all travellers who took […]
Read MoreOver 20,000 employees from seven airlines are on the verge of losing their jobs if the ban imposed on domestic flights is prolonged to three months without help from the long-awaited 5-billion-baht soft loan from the government, according to the Airlines Association of Thailand (AAT). AAT president, Puttipong Prasarttong-Osoth, said the aviation industry in Thailand […]
Read MoreTris Rating has revised its forecast of Thailand’s 2021 real gross domestic product (GDP) growth downward to 1.0%, from a February forecast of 2.6%, mainly due to the severity of economic fallout from the third wave of the Covid-19 outbreak. The country’s overstretched public health system and slow progress of vaccine rollout will likely cause […]
Read MoreMANILA, Philippines — The Freedom from Debt Coalition (FDC) said the country’s record-high P11-trillion debt would make it difficult to revert the economy’s momentum to its pre-pandemic levels. In a forum hosted by the non-profit Freedom from Debt Coalition (FDC), former senator Wigberto Tañada said servicing the huge debt pile may restrict the next administration’s […]
Read MoreFOOD and beverage (F&B) and other services businesses appear desperate for help, as Singapore headed into its third dine-in ban since the Covid-19 pandemic began. Representatives from the industry reiterated calls for deeper support on Wednesday, as stricter curbs take their toll on eateries and retailers – including many small businesses. Rents, wage costs and […]
Read More
Thailand
