United Overseas Bank Limited (UOB) on March 1 announced the completion of the acquisition of Citigroup’s consumer banking business in Vietnam, which includes the transfer of approximately 575 Citigroup related staff to UOB Vietnam. The consumer business comprises Citigroup’s unsecured and secured lending portfolios, wealth management and retail deposit businesses. The acquisition in Vietnam follows […]
Read MoreBANGKOK, March 2 (Reuters) – Thailand’s unemployment rate in the fourth quarter of 2022 dropped to 1.15% from 1.23% in the previous quarter, the state planning agency said on Thursday, as the vital tourism sector rebounds. Employment increased 1.5% in October-December from a year earlier, but slowed from a 2.1% rise in the September quarter, […]
Read MoreEven as the use of technology for financial inclusion of the unbanked and under-banked population has been in the works for sometime across the globe, the Covid-19 pandemic gave an impetus to the use of digital channels for financial activity. Attention to digital channels grew with the pandemic affecting physical movement and other activities. In […]
Read MoreMANILA, Philippines — The growth in Philippine manufacturing activity eased to a three-month low in February amid supply chain concerns and higher costs. In a report released yesterday, S&P Global said the country’s purchasing manager’s index (PMI) remained on expansion mode but slowed to 52.7 in February from 53.5 in January. “The latest reading signaled […]
Read MoreJakarta: The government has reaffirmed a target to bring at least 30% of exporting companies’ earnings into the country with a set of new policy tools to be introduced in March. Coordinating Economic Minister Airlangga Hartarto said that based on data provided by the Finance Ministry and Bank Indonesia (BI), the 30% figure was achievable […]
Read MoreThe average airfare for flights connecting key cities in China and Thailand remains 1.5 times higher than pre-pandemic prices, while for second-tier cities fares have surged 200%, which means low-priced tours cannot return, according to the Tourism Authority of Thailand (TAT). TAT governor Yuthasak Supasorn said even though average airfares have decreased from last year, prices […]
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