The Philippine peso slumped to a one-year low last week amid a strengthening US dollar and volatile oil prices. As a result, the peso weakened to 50.17 last Friday before closing at 50.08. This is the biggest one-week drop since 2013. Year-to-date, the peso has declined by 4.27 percent. The recent weakness of the peso […]
Read MoreThe Federation of Thai Industries (FTI) is closely monitoring the foreign exchange rate after the baht recently fell to its weakest value in 14 months at 32.29 baht to the US dollar, although this benefits Thai exporters. The baht is expected to remain weak in the short term because the US Federal Reserve is likely […]
Read MoreBanks have reported huge profits for Q2 and H1 due to high credit growth rates and lending interest rates, while capital mobilization cost has been low. SSI Research has released a report estimating the business results in Q2 of 33 listed companies. Most of the banks mentioned in the reports made high profits. The banks […]
Read MoreMANILA, Philippines (Update 1, July 13, 2021 9:23 a.m.) — The Philippines’ hard-earned credit rating that the Duterte administration tried to protect by limiting pandemic spending is now at risk of being downgraded, as the health crisis is seen leaving deep economic scars. Global debt watcher Fitch Ratings on Monday downgraded its outlook on the Philippines from “stable” […]
Read MoreFigures out this week are likely to provide more signs of slowing growth in Asian economies. China releases its second quarter gross domestic product (GDP) on Thursday. Moody’s Analytics is forecasting a slowdown to 6.5 percent growth, from a 13 percent jump in the first three months of the year. It forecasts 8 percent growth […]
Read MoreThe latest price adjustment marked the third consecutive price hiking since late May, resulting in a rise of VND2,190 per liter for E5- RON92, and VND2,250 for RON95. From 15.00 today [July 12], the retail price of biofuel E5 – RON92 rose by VND850 to around VND20,610 (US$0.9) per liter, and that of RON95 went […]
Read More
Thailand
