MANILA: Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China’s slowdown, but the pace of expansion will pick up next year, the World Bank says. The Washington-based lender said in a report it expected 2022 growth in the East Asia and Pacific region, which includes China, to slow […]
Read MorePETALING JAYA: The World Bank has lowered its 2023 growth target for Malaysia to 4.2% from 4.5% earlier and warned that significant headwinds will continue to persist. World Bank lead economist for Malaysia Apurva Sanghi said as an open economy, Malaysia faces the brunt of global supply disruptions. “But if you zoom out, the disruptions […]
Read MoreMANILA, Philippines — The surging dollar beat the peso into submission as the US Federal Reserve’s rate hike continues to reign king in global markets. The local currency’s finish on Tuesday, at P58.99 against the greenback, was weaker than its previous close of P58.5, marking a new record-low. That said, the peso’s decline kept pace […]
Read MoreA writing published by the London-based Financial Times on September 26 described Vietnam as one of the seven economic wonders of a worried world. It noted in periods of gloom like this one, when commentators see nothing but faults in most countries, it is worth highlighting the few that defy the prevailing pessimism. The seven […]
Read MoreThe World Bank has increased its forecast for Thai economic growth this year to 3.1% from 2.9%, according to its “East Asia and Pacific October 2022 Economic Update” released on Monday. The bank also downgraded its growth forecast for Thailand in 2023 to 4.1% from a previous forecast of 4.3%. Growth in most of developing […]
Read MoreMANILA, Philippines — A removal from the gray list of global dirty money watchdog Financial Action Task Force (FATF) may help the Philippines attract more foreign direct investments (FDIs), according to the International Monetary Fund (IMF). “The completion of the Philippines’ action plan with the FATF is critical to successfully exit the FATF list,” Cheng […]
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