The recent 42-billion-baht package of financial assistance for people and businesses affected by the partial lockdown is far from sufficient to offset the impact of rising infections, says the head of the local commerce chamber. Sanan Angubolkul, chairman of the Thai Chamber of Commerce, proposed the government immediately draw a budget from the new 500-billion-baht […]
Read MoreMANILA, Philippines — Dutch financial giant ING Bank sees the Philippines lagging in terms of recovery from the pandemic as it slashed the gross domestic product (GDP) growth forecast to 4.7 percent instead of five percent this year. Nicholas Mapa, senior economist at ING Bank Manila, said the downward revision was brought about by the […]
Read MoreBank loan interest rates are becoming a heavy burden on businesses, which have been hit hard by Covid-19 for more than a year. State Bank of Vietnam Deputy Governor Dao Minh Tu at a recent conference asked four state-owned banks and 12 joint stock banks to continue easing lending interest rates for existing loans in […]
Read MoreMANILA, Philippines — Fintech companies are poised to overtake banks in capturing unbanked Filipinos, likely leading to missed opportunities for conventional lenders to attract new customers and create fresh sources of revenue. About 70% of adults in the Philippines lack access to banking and financial services, with Fintech firms like Globe Telecom Inc.’s GCash and […]
Read MoreThe baht opened at 32.63 to the US dollar on Thursday, weakening from Wednesday’s closing rate of 32.60. The Thai currency is likely to move between 32.60 and 32.70 during the day, Krungthai Bank market strategist Poon Panichpibool said Just like yesterday, he said, foreign investors decided to sell their Thai assets due to uncertainty […]
Read MoreThe Bank of Thailand (BoT)’s view is that the government’s latest lockdown measures will lead to higher downside risks for the Thai economy amid the spread of the Delta variant of Covid-19, which is fuelling the latest wave of infections. The government’s new round of tighter lockdown measures and travel curbs reflect a higher downside […]
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