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Malaysia on track to post Q1 GDP growth of 5.6%

KUALA LUMPUR: Malaysia’s gross domestic product (GDP) growth for the first quarter of 2023 (1Q23) is expected to record 5.6% versus 5% in last year’s corresponding quarter, says Bank Islam Malaysia Bhd (BIMB). Such compelling growth in 1Q23 is bolstered by strong domestic demand coupled with moderating inflation amid facing external headwinds, the bank said […]

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Asean pact pushes local currencies

The cabinet has approved Asean’s joint plans to push for the use of local currencies for payments in the region. According to deputy government spokeswoman Rachada Dhnadirek, the cabinet approved the draft of the “Asean Leaders’ Declaration on Advancing Regional Payment Connectivity and Promoting Local Currency Transaction” yesterday. The Asean leaders are scheduled to consider endorsing […]

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Philippines: Trade deficit widens to $4.93 billion in March

MANILA, Philippines — The Philippines’ trade deficit widened in March as merchandise imports continued to outpace the export of goods, according to the Philippine Statistics Authority (PSA). Preliminary data from the PSA yesterday showed the balance of trade in goods or difference between the value of exports and imports amounted to a deficit of $4.93 […]

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