MANILA, Philippines — S&P Global Ratings said credit losses of Philippine banks may reach $2 billion this year due to deteriorating asset quality arising from defaults amid the coronavirus disease 2019 or COVID-19 pandemic. Credit loss arises from delinquent and bad debt or other credit that is likely to default. Banks are required to set […]
Read MoreIn view of COVID-19, the Central Bank of Myanmar (CBM) has granted a three-year extension for banks to comply with four directives to better align the sector with international standards released in 2017. Banks now have until August 31, 2023 to comply with:Notification No. (16/2017) Capital Adequacy Regulation, Notification No. (17/2017) Asset Classification and Provisioning […]
Read MoreSINGAPORE – Private home prices fell less than initially estimated in the first quarter of 2020, but Singapore’s extended “circuit breaker” period against a sharp rise in Covid-19 cases will put more downward pressure on the property market. Private residential prices dropped 1 per cent in the January to March period from the previous quarter, according to […]
Read MoreThe Hanoitimes – Standard Chartered Bank is the latest institution to trim Vietnam’s growth projections due to weaker external demand and domestic consumption. Standard Chartered Bank has joined other financial institutions to trim forecasts for Vietnam’s 2020 economic growth, lowering its projections for the country’s growth to as low as 3.3% in 2020 due to increase […]
Read MoreAir passengers and travel agents are not happy about airlines’ refund policies as the COVID-19 pandemic hits air travel demand. A recently issued government policy that bans all passenger travel further exacerbates the situation. Chandra Hidayatul Akbar, 24, who lives in Medan, North Sumatra, has to accept the fact that low-cost carrier AirAsia Indonesia will only give […]
Read MoreKUALA LUMPUR, April 24 — The Finance Ministry has identified three short-term objectives as part of its plans to boost the economy after taking a hit from the movement control order (MCO) to battle the Covid-19 pandemic. Its minister Senator Tengku Datuk Seri Zafrul Tengku Abdul Aziz said in a press statement today that his […]
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Thailand
