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Philippines: BSP matches Fed’s 50-bps rate increase

MANILA, Philippines — As widely expected, the Bangko Sentral ng Pilipinas (BSP) delivered a softer 50-basis-point hike at the last rate-setting meeting of the Monetary Board for the year, as inflation is seen accelerating further and peaking this month. This brings the benchmark interest rate to a 14-year high of 5.50 percent, the highest since […]

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Thailand: Companies hit with 20% power hike

The Energy Regulatory Commission (ERC) has decided to maintain the power tariff at 4.72 baht per kilowatt-hour (unit), keeping electricity bills for households unchanged for the first four months next year, but it plans to increase the tariff imposed on businesses. Although the decision will help people deal with high living costs, Isares Rattanadilok Na Phuket, […]

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Malaysia to focus on core competency of workforce to up prospects – Mida chairman

KUALA LUMPUR: Investment prospects in Malaysia have risen dramatically because of the country’s prolonged economic interaction with the global economy. “As the Malaysian economy undergoes transformation, we must continue to develop the people’s core competencies so that our workforce can compete effectively in the global economy for the benefit of the country, attracting high-tech investments […]

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ADB eyes $4.3 billion annual lending to Philippines until 2025

MANILA, Philippines — The Asian Development Bank (ADB) will lend $4.3 billion annually over the next three years to the Philippines to support infrastructure, climate change and agriculture projects. “We are discussing with the government our new country strategy and are looking at three core strategic pillars that are aligned to President Marcos’ eight-point socioeconomic […]

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