SINGAPORE: Citigroup said on Tuesday it had completed the sale of its Thailand and Malaysia retail banking businesses to Singapore’s United Overseas Bank (UOB) in a transaction expected to result in a regulatory capital benefit of copy billion. UOB said in a separate statement that it expects to complete the acquisition of Citigroup’s consumer banking businesses […]
Read MoreAsia’s factories slumped in October as global demand for merchandise goods made in the region continues to weaken, with Thailand recording the steepest drop in the S&P Global manufacturing purchasing managers’ index (PMI). Taiwan’s slump was also a standout, with the PMI dropping to 41.5 in October from 42.2 in September to mark its weakest reading […]
Read MoreUntil August 2022, bilateral trade between Laos and Thailand generated more than USD 5.3 billion. In comparison to the same period in 2021, bilateral trade between Laos and Thailand has increased by 10.3 percent. Exports from Laos to Thailand saw an increase of 8.5 percent at over USD 2.3 billion, and Laos imported goods worth […]
Read More(Bloomberg) — Indonesia’s inflation pulled back in October as gains in food prices slowed, cushioning the blow of higher pump prices. Headline inflation rose 5.71% year-on-year, much slower than the near-6% notched in September and expected by analysts for this month. Food inflation retreated to 7.04% versus 8.69% in September, while energy costs surged 17%. […]
Read MorePETALING JAYA: The Malaysian manufacturing sector registered a further loss of momentum during October. The seasonally adjusted S&P Global Malaysia manufacturing purchasing managers’ index (PMI) slipped to 48.7 in October from 49.1 in September. The latest reading was indicative of a slight moderation in the health of the sector but one that was the strongest […]
Read MoreThailand’s Manufacturing Production Index (MPI) increased by 3.36% year-on-year to 97.9 points in September, thanks to bustling economic activities, especially in the tourism and export sectors. Exports enjoyed growth while tourism continued to recover, said Warawan Chitaroon, permanent secretary for industry and acting director-general of the Office of Industrial Economics (OIE). “The tourism industry played an […]
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