MANILA, Philippines — Universal and commercial banks expect bad loans to increase in the next two years as consumer loans remain vulnerable and prone to weakening due to the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas (BSP). A majority of the respondents of the BSP’s First Semester 2021 Banking Sector Outlook Survey (BSOS) said […]
Read MoreHotel investment in Asia Pacific remained flat in the first half of 2021 with US$3.7 billion in sales, a decline of 3.7% year-on-year, according to JLL Hotels & Hospitality Group. In total, 61 hotel investment deals were transacted in the first half across nine countries and representing over 10,000 rooms. Hotel transaction volumes in the […]
Read MoreMANILA, Philippines — The pace of economic recovery in the Philippines would be the slowest in Asia amid a lackluster fiscal response to the pandemic, with the threat of long-term scarring effects now more visible than ever, an international think tank said. In its latest economic outlook report for Emerging Asia, London-based Capital Economics said […]
Read MorePreah Sihanouk province reigns supreme among domestic tourists as the industry undertakes a strategic pivot towards locals. A total of 532,380 domestic travellers visited the coastal province in the first quarter of this year, a 117.9 percent increase over the same period last year. The province attracted nearly 59 percent of all travellers who took […]
Read MoreOver 20,000 employees from seven airlines are on the verge of losing their jobs if the ban imposed on domestic flights is prolonged to three months without help from the long-awaited 5-billion-baht soft loan from the government, according to the Airlines Association of Thailand (AAT). AAT president, Puttipong Prasarttong-Osoth, said the aviation industry in Thailand […]
Read MoreTris Rating has revised its forecast of Thailand’s 2021 real gross domestic product (GDP) growth downward to 1.0%, from a February forecast of 2.6%, mainly due to the severity of economic fallout from the third wave of the Covid-19 outbreak. The country’s overstretched public health system and slow progress of vaccine rollout will likely cause […]
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