MANILA, Philippines — New York-based Fitch Ratings has lowered from stable to negative the outlook for several government and private-owned Philippine banks due to downside risks to the country’s medium-term growth prospects amid the COVID-19 pandemic. The debt watcher lowered the outlook of state-run Land Bank of the Philippines (Landbank) and Development Bank of the […]
Read MoreThe worsening pandemic situation and plunge in advertising budgets are expected to drive down media spending this year with a 4% year-on-year contraction to 72.1 billion baht — a critical situation for the industry, according to Media Intelligence (MI), a creative and media planning agency. “The government’s tough measure to curb Covid-19 infections and a […]
Read MoreWhile many industries are suffering during the Covid-19 pandemic, cold storage supply chains are heating up the logistics industry. In a cold storage system, the standard temperature is always below 2 degrees Celsius. A standard cold storage is divided into four warehouse systems (from 1 to 4) that operate fully automatically, with 14 robots and […]
Read MoreCambodian rice exporters expect higher demand from China to make up for a drop in shipments to Europe, according to the head of the Cambodian Rice Federation. The EU still wants to import more rice from the Kingdom, federation President Song Saran said, but high transportation costs and a lack of containers have made it […]
Read MoreMANILA, Philippines — The pandemic-induced rise of government debts likely hit its peak already, and a return to pre-crisis fiscal health could happen late next year, Finance Secretary Carlos Dominguez III said Wednesday. As of end-March, government debt, as a share of the economy, has risen to 60.4%, and Dominguez believes that that level remains manageable. […]
Read MoreThe cabinet on Tuesday cut the spending budget for the “Ying Chai Ying Dai” (the more you spend, the more you get) e-voucher cashback scheme to 9.8 billion baht from 28 billion baht because of fewer-than-expected participants. Meanwhile, the cabinet also raised the budget to support the relief packages for people and businesses affected by […]
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Thailand
