MANILA, Philippines – The Asian Development Bank maintained its economic outlook on the Philippines despite the recent tightening of pandemic lockdowns, saying the economy is healing but recovery remains delicate. In an update of its flagship “Asian Development Outlook (ADO)” report released Wednesday, the Manila-based lender said the economy will likely grow 4.5% this year, […]
Read MoreThe Cabinet on Tuesday halved both employers’ and employees’ social security contributions from September to November. The aim is to alleviate the financial burden of business owners and their employees during the Covid-19 situation,” Labour Minister Suchart Chomklin said on Wednesday. “Monthly employee contributions under Article 39 of the Social Security Act will be cut […]
Read MoreThe government has decided to raise the ceiling of the public debt-to-GDP ratio from 60% to 70% which will allow further borrowing to rehabilitate the economy battered by Covid-19. The decision was made by the State Monetary and Fiscal Policy Committee chaired by Prime Minister Prayut Chan-o-cha on Monday. The committee is made up of […]
Read MoreKUALA LUMPUR, Sept 21 — The ringgit stayed higher against the US dollar today as the greenback retreated amid China’s Evergrande Group crisis. At 6pm, the local note climbed to 4.1835/1850 from 4.1905/1950 at yesterday’s close. A trader said worries over developments in China’s property sector have lifted tensions ahead of the US Federal Reserve’s […]
Read MoreSINGAPORE – Businesses welcomed changes to the snap work-from-home (WFH) regime, noting that the revised rules would reduce disruption to work operations should there be Covid-19 cases among employees. This was after the Ministry of Manpower (MOM) announced several changes to the existing snap WFH regime on Monday (Sept 20). From Wednesday, such a regime […]
Read MoreIndonesia will continue to promote economic cooperation with Latin America and the Caribbean through the Indonesia-Latin America and Caribbean Business Forum (INA-LAC Business Forum) slated for October 14-15, according to an official of the Indonesian Foreign Ministry. Jakarta (VNA) – Indonesia will continue to promote economic cooperation with Latin America and the Caribbean through the Indonesia-Latin America and Caribbean […]
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