JAKARTA (THE STAR/BLOOMBERG) – Indonesia has lost its prized upper middle-income status after only a year, as Southeast Asia’s largest coronavirus outbreak reverses gains in poverty and employment. The World Bank downgraded Indonesia to lower-middle income status as of July 1, with a gross national income per capita of USD3, 870. The country had graduated […]
Read MoreThe baht opened at 32.50 to the US dollar on Monday, strengthening from Friday’s closing rate of 32.60. The Thai currency is likely to move between 32.45 and 32.60 during the day and between 32.40 and 32.90 this week, Krungthai Bank market strategist Poon Panichpibool said. Poon said that the baht would weaken, as foreign […]
Read MoreMANILA, Philippines — The government spent more than half for debt payments in May at nearly P38 billion as interest payments and amortization rose by double digits, the Bureau of the Treasury said. BTr data showed debt servicing in May went up by over 53 percent to P37.8 billion from P24.64 billion during the same […]
Read MoreEffective usage of the state budget has helped Vietnam succeed in bringing public debt under control since 2016, ensuring national financial security. The General Statistics Office last week announced that in the first six months of 2021, there has been a surplus in the state budget of VND80.6 trillion ($3.5 billion) thanks to a rise […]
Read MoreThailand is scheduled to sign a memorandum of understanding (MoU) today to form a deeper trade partnership through a “mini-FTA” with Kofu city in central Japan. Once signed, the trade partnership with Kofu will be the first mini trade agreement for the Thai government. A similar pact with Telangana state in India was scheduled to […]
Read MoreKUALA LUMPUR: The ringgit opened firmer against the US dollar, backed by rising crude oil prices amid the higher number of COVID-19 cases in Malaysia. At 9am, the local note rose slightly by 45 basis points (bps) to open at 4.1850/1890 against the greenback from 4.1895/1940 at last Friday’s close. Bank Islam Malaysia Bhd economist […]
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