The Indonesian government is banking on fourth-quarter gross domestic product (GDP) growth to reach its annual target as an unprecedented Covid-19 wave promises to dampen the third-quarter economic recovery. Coordinating Minister for Economic Affairs Airlangga Hartarto told reporters that the government would focus its resources on containing the second virus wave in the third quarter […]
Read MoreThe baht opened at 33.46 to the US dollar on Tuesday, its lowest in three years, weakening from Monday’s closing rate of 33.41. The Thai currency was likely to move between 33.40 and 33.55 during the day, Krungthai Bank market strategist Poon Panichpibool said. He said the baht might weaken further if importers accumulated dollars […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is reminding government and private entities to submit their planned foreign borrowings for next year not later than Sept. 30. The central bank conducts an annual survey to get an indication of the magnitude and timing of the economy’s financing requirements for the following year, as […]
Read MoreThe Deposit Protection Agency (DPA) will cut back protection from THB5 million to THB1 million per depositor from Wednesday, the Bank of Thailand (BOT) said on Monday. The move aims to reduce inequality and make room for the government to allocate budget for economic activities, BOT deputy governor Ronadol Numnonda said. Ronadol confirmed that financial […]
Read MoreMANILA: The Philippine economy exited a pandemic-induced recession with its fastest year-on-year growth in over three decades, but tighter Covid-19 curbs could hamper the recovery and boost expectations monetary policy will remain accommodative for the rest of 2021. Gross domestic product (GDP) rose 11.8% in the June quarter from a Covid-driven slump a year earlier, […]
Read MoreThe Cooperative Promotion Department has tied up with several agencies to offer free parking spots as well as low-interest loans to help cabbies and taxi cooperatives survive the Covid-19 crisis. Wisit Srisuwan, the department’s deputy director-general, said many cabbies were out of a job due to the lack of customers. Also, some 3,000 cabs are […]
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