MANILA, Philippines — The peso shed 47 centavos yesterday to close at a five-month low of 51.5 to $1 from Friday’s 51.03 as the coronavirus disease 2019 or COVID-19 continued to wreak havoc on financial markets around the world. Bangko Sentral ng Pilipinas Governor Benjamin Diokno brushed aside the weakening of the peso, saying the […]
Read MoreWhile many sectors globally are facing a serious downturn in their fortunes due to the knock-on effects of COVID-19, Cambodia’s construction industry remains stable, according to the Ministry of Land Management, Urban Planning and Construction. In fact, in a positive piece of news amongst the current gloomy outlook, Seng Lot, spokesperson for the ministry claims […]
Read MoreTHE impact of the Covid-19 outbreak on the Philippine economy may be larger than first anticipated as the shock evolves, a report by JP Morgan Chase Bank suggested as it lowered the country’s growth forecast for 2020. “We now see full-year 2020 growth at 5.1 per cent year on year, from a previous forecast of 6.2 per […]
Read MoreThe rupiah inched closer to the Rp 15,000 psychological mark against the US dollar on Monday, as fears over the COVID-19 pandemic prompted investors to dump risky assets amid a global market rout. The rupiah depreciated 1.05 percent to 14,932 against the greenback as of 3:59 p.m. Jakarta time, Bloomberg data shows. According to Bank […]
Read MoreMANILA, Philippines — Remittances from overseas Filipino workers (OFWs) increased at their fastest pace in three months as the impact of the rapid spread of the coronavirus disease 2019 or COVID-19 has not yet been felt, according to the Bangko Sentral ng Pilipinas (BSP). Data released by the central bank yesterday showed personal remittances went […]
Read MoreUnsettled disputes between tour operators and airlines may exacerbate the tourism situation in Thailand by forcing outbound wholesalers to exit the market and more layoffs. The global coronavirus pandemic has created significant impacts to global tourism as the World Tourism Organization (UNWTO) has predicted a contraction of international arrivals by 1-3% with an estimated loss […]
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