MANILA, Philippines — The Asian Development Bank (ADB) has retained its 2021 economic growth outlook for the Philippines at 4.5 percent, but warned of continued downside risks from more transmissible COVID variants that may lead to fresh spikes in cases and lockdown measures. In its Asian Development Outlook 2021 Update released yesterday, the Manila-based multilateral […]
Read MoreDomestic car sales tumbled 38.8% in August from a year earlier as stricter coronavirus containment measures hit economic activity, the Federation of Thai Industries (FTI) said on Thursday. However, the curbs, imposed in July and August, have been eased this month, which the FTI said should boost car sales later this year. In August, sales […]
Read MoreBy Ronnie Harui SINGAPORE–Singapore’s consumer prices rose in August, driven by firm increases in the costs of food, housing, transportation and utilities. The consumer-price index in August climbed 2.4% from a year earlier, the country’s Department of Statistics said Thursday. That compared with the median estimate for a 2.35% rise in a Wall Street Journal […]
Read MoreThe 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 […]
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