The Asian Development Bank (ADB) has slashed its forecast for Cambodian gross domestic product growth (GDP) this year to 1.9 percent. That compares with its April forecast of 4 percent growth and last year’s economic contraction of 3.1 percent. The ADB left next year’s forecast of 5.5 percent growth unchanged. The bank says the prolonged […]
Read More[MANILA] The Philippine central bank kept interest rates at record lows on Thursday, looking past increasing inflation pressures to support an economy struggling with the fallout of recent Covid-19 curbs. The Bangko Sentral ng Pilipinas (BSP) kept the rate on the overnight reverse repurchase facility at 2.0 per cent for the seventh straight policy meeting, […]
Read MoreThe Phuket sandbox will help revive the residential market in the province next year, but a local business body is calling on the government to provide one-stop services and incentives to boost demand from foreign buyers. Thanusak Phungdet, president of the Phuket Chamber of Commerce, said many foreign buyers were waiting for the country’s reopening […]
Read MoreMany commercial banks have announced a 0.5-3 percent cut in lending interest rates and many policies to support customers affected by the Covid-19 pandemic. However, feedback from individual customers in Ho Chi Minh City shows that banks have refused to aid them, even when they are in blocked areas and need priority. Beyond the repayment […]
Read MoreFinancial experts say the introduction of a capital gains tax (CGT) next year will have major implications for foreign investors in Cambodia. The CGT was delayed because of the financial downturn triggered by the Coronavirus pandemic but is due to come into force on Jan 1, 2022. It is a 20 percent tax on capital […]
Read More[BANGKOK] Trade-reliant Thailand plans to launch a national shipping company next year to bolster its trade capabilities, reduce transport costs and become a bigger player in global logistics as the Malacca bypass opens. “With Covid, we’re facing container shortages, so a lot of our goods can’t be shipped, and some products will perish. Losses are […]
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