MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) expects a five percent drop in remittances from overseas Filipino workers (OFWs) due to the economic fallout from the coronavirus disease 2019 or COVID-19 pandemic. BSP Governor Benjamin Diokno said cash remittances coursed through banks may contract to $28.6 billion this year from a record high […]
Read MorePhuket’s property market will take at least two years to recover because the fallout from the coronavirus is hitting one of the world’s top tourist destinations harshly, says the Phuket Real Estate Association. Boon Yongsakul, the association’s vice-president, said the Phuket property market has suffered a severe impact from the pandemic because the local economy […]
Read MoreThe prolonged suspension of tourist visas to foreigners and strict health measures could kill the tourism and the aviation sector, according to a tourism industry insider. The tourism sector has been severely affected by the pandemic. Total visitor numbers fell 52 percent From January to April 2020, with the nation welcoming around 1.16 million foreigners, […]
Read MoreThe baht surged the most in a year on Thursday, defying a selloff among emerging Asian currencies and testing the central bank’s patience after it warned of economic risks from continued appreciation. The baht advanced as much as 1.1% against the dollar, the most since June 2019. The Thai currency has breached its 200-day moving […]
Read MoreMORE than 95,000 employers in Singapore will receive over S$450 million in payouts by the end of this month under the Wage Credit Scheme (WCS), the Ministry of Finance (MOF) and the Inland Revenue Authority of Singapore (IRAS) announced in a joint statement on Thursday. “The Wage Credit Scheme co-funds wage increases given by employers to Singaporean […]
Read MoreKUALA LUMPUR (REUTERS) – Malaysia’s industrial production index plunged 32 per cent in April from a year earlier, its biggest drop on record, government data showed on Thursday (June 11), hit by a sharp decline in activity because of coronavirus curbs. The figure was nearly double the drop of 18 per cent forecast by analysts […]
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