MANILA, Philippines — The Asian Development Bank (ADB) has recast its forecast for the Philippine economy to a deeper decline of 7.3 percent this year, citing subdued private consumption and investment amid the coronavirus pandemic. In its Asian Development Outlook (ADO) 2020 Update released yesterday, the Manila-based multilateral bank downgraded the outlook for the Philippines […]
Read MoreThe Hanoitimes – Vietnam’s installed capacity is set to increase to about 70 gigawatts (GW) by end-2022 (2019: 55GW), led mainly by private players and other government-owned entities. Electricity demand in Vietnam is forecast to continue to increase at an average rate of 9% a year from 2021 onwards, driven by rising industrialization, urbanization and affluence, […]
Read MoreAsia Development Bank’s latest report estimated the GDP of Myanmar to grow to 1.8 percent in 2020 compared to 6.8 percent in 2019 while the GDP of most Southeast Asian economies are estimated to contract. Like Myanmar, Vietnam’s GDP growth is expected to have 1.8 percent and Burnie’s 1.4 percent. Thailand’s GDP is estimated to […]
Read MoreIndonesia’s gross domestic product (GDP) is expected to shrink even further than projected in the third quarter as capital city Jakarta reimposes large-scale social restrictions (PSBB), Finance Minister Sri Mulyani Indrawati said Tuesday. The government previously expected the economy to post a flat growth at best or a contraction of 2.1 percent at worst in […]
Read MoreSINGAPORE, Sept 15 — Amid longstanding calls to set a minimum age for private-hire car drivers, all new private-hire car driver’s vocational licence (PDVL) applicants must be Singaporeans who are at least 30 years old at the point of application, the Land Transport Authority (LTA) announced with immediate effect today. They must also have a […]
Read MoreReports of Chinese e-commerce giant Alibaba’s move to invest in ride-hailing and delivery player Grab have sparked concerns about market domination by two gigantic players in the Thai market. The move, in the eyes of the industry analysts, could potentially threaten other key e-commerce players, such as Shopee and JD Central, and dominate retail business […]
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