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Philippines: Credit growth slows in May

MANILA, Philippines — Credit growth slowed for the second straight month and remained at single-digit level in May, reflecting the impact of the year-long tightening cycle by the Bangko Sentral ng Pilipinas (BSP) to fight inflation and stabilize the peso. Preliminary data from the BSP showed that the rise in loans disbursed by big banks […]

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Vietnam remains biggest rice provider of Philippines

Vietnam remained the biggest rice provider of the Philippines in the first five months of this year with turnover of 772.4 USD million, surging 31.1% year-on-year. During January-May, the Philippines imported 1.5 million tonnes of rice from Vietnam, accounting for nearly 90% of its total imported rice, according to the Asia-Africa Market Department under the […]

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Indonesia regains upper-middle income rank on growth rebound

A strong post-pandemic rebound has pushed Indonesia back into the upper-middle income band of countries, according to the World Bank, putting it back on track to pursue its high-income status goal. Indonesia reclaimed the rank this year as gross national income per capita climbed to $4,580, based on the bank’s latest classifications. It’s an improvement from the […]

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