Small and medium enterprises form the backbone of Southeast Asia’s growing economy. Accounting for more than 90% of the private businesses in the region, this sector is responsible for generating employment, exports and GDP growth. Hit badly by pandemic-induced lockdowns, SMEs are embracing e-commerce and digitisation to recover from the prolonged bout with physical restrictions and unstable […]
Read MoreMANILA, Philippines — Remittance inflows to developing Asian countries from overseas workers are expected to continue to grow this year, while deployment of migrant workers from the region disrupted by restrictions imposed due to COVID-19 is expected to return to pre-pandemic levels amid the resumption of economic activities, the Asian Development Bank (ADB) said. In […]
Read MoreThe Bank of Thailand will not extend the easing of loan-to-value (LTV) measures for mortgage loans as the economy is showing clearer signs of recovery. The central bank decided against further extending the easing of LTV measures launched in October 2021 and set to expire in December 2022, said the Bank of Thailand’s assistant governor Chayawadee Chai-Anant. […]
Read MoreJAKARTA : Indonesia’s inflation rate eased in October but remained above the central bank’s target range for five straight months, statistics bureau data showed on Tuesday, against market expectations for a slight acceleration. The headline annual inflation rate cooled to 5.71 per cent in October, compared with 5.95 per cent in September and 5.99 per […]
Read MoreSINGAPORE: 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 […]
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