Annual credit card spending is expected to contract this year because of the coronavirus crisis, particularly for outbound spending, due to the government’s prohibition on cross-border travel. Credit card spending in the finance industry contracted by 14.2% year-on-year for the first five months this year. The shrinkage gradually improved from 40.1% in April to 27.6% […]
Read MoreVietnam may break a 10-year trend by not increasing regional minimum wages for private businesses in 2021 to help ease the financial burden on those ailing from the pandemic. With nine of the 13 members voting in favour, the National Wage Council will propose the government not to increase the regional minimum wage in 2021, […]
Read MorePresident Joko “Jokowi” Widodo has called on local administrations to accelerate their regional budget spending to help boost the economy after Indonesia’s gross domestic product (GDP) contracted in the second quarter. About Rp 170 trillion (US$11.5 billion) in funds from local administrations were left sitting in banks, waiting to be disbursed, he said. “I am optimistic […]
Read MoreMoody’s Investors Service said Tuesday that Cambodia stood to benefit from the diversification of global supply chains — notwithstanding the partial withdrawal of EU trade privileges. “As the global trade system becomes more regionally focused, each major region – Asia, Europe and the U.S. – will likely have its own suppliers for strategically important products,” […]
Read MoreThe EU-Vietnam Free Trade Agreement (EVFTA), negotiated between the European Union and Vietnam to boost trade and investment between the two regions, is a significant economic milestone for Vietnam. Having come into effect on August 1 this year, the trade agreement will make substantial cuts to tariffs between the two trading partners, and will ultimately eliminate 99 per […]
Read MoreCosmetics brands that stock sales counters at department stores face a fresh wrinkle: fewer shops to sell their products as retailers shrink their physical footprint. Estée Lauder Cos., Amorepacific Group Inc. and Kao Corp. are looking to manage risk and diversify how their products are sold as department stores, which represent a sizable share of […]
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Thailand
