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World Bank: Philippines has one of the widest wealth gaps in East Asia

MANILA, Philippines — Despite steady progress for three decades, the Philippines still struggles to close one of the widest wealth gaps in East Asia, with the country ranking 15th out of 65 countries in terms of inequality, the World Bank found in a study released Thursday.  In a report entitled “Overcoming Poverty and Inequality in the Philippines: Past, Present, and Prospects […]

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Thailand: Direct sales set to grow 3-5% next year

Thailand’s direct sales industry is expected to see growth of 3-5% next year after two years of contraction attributed to the Covid-19 outbreaks. According to Surachet Chousri, the newly appointed president of the Thai Direct Selling Association (TDSA), the sector fell to 69.3 billion baht and 63.8 billion in 2020 and 2021, respectively, from 70.1 billion […]

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Malaysia: RAM projects 4%–5% GDP growth for 2023

PETALING JAYA: Malaysia’s gross domestic product (GDP) growth rate is expected to remain respectable in 2023 but will be at a slower rate year-on-year (y-o-y) and supported by the country’s broad and diversified domestic economy, says RAM Ratings Services Bhd. RAM Ratings senior economist and head of economic research Woon Khai Jhek estimated GDP for […]

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