KUALA LUMPUR: Hong Kong and Malaysia are proving to be the biggest growth surprises in Asia. The two nations received the largest upgrades for this year among major economies in the Asian Development Bank’s latest outlook released on Tuesday. Meanwhile, India received the steepest downgrade. The global trade recovery is helping boost exports in Hong […]
Read MoreGovernment spending must increase to support the current pace of economic growth, Netherlands-based financial institution ING Bank said on Monday. “A strong fiscal performance is needed to keep GDP growth at around 6.5 percent in third quarter,” ING Bank Manila senior economist Joey Cuyegkeng said. Citing the government’s August cash operations report, Cuyugkeng said that […]
Read MoreSPECIALEconomic Zones (SEZs) in Myanmar are considered by the Ministry of Industry as the main pillar of economic development, according to the ministry’s spokesperson. The government aims to boost the growth of manufacturing sector by linking the SEZs and domestic industrial zones. U Ko Ko Lwin, permanent secretary of the Ministry of Industry, said that […]
Read MoreTEMPO.CO, Jakarta – The Asian Development Bank (ADB) predicted that the Indonesian economy would grow by 5.1 percent this year and 5.3 percent in 2018. The ADB also projected that asset investments and exports would remain the driving force of the economic growth. Winfred Wicklein, ADB country director in Indonesia, said that the Indonesian economy would remain solid despite […]
Read MoreTEMPO.CO, Jakarta – Transportation Minister Budi Karya Sumadi revealed that the ministry is currently offering 12 strategic infrastructure projects in a meeting with nine countries. The countries include Japan, China, Poland, Hungary, South Korea, Malaysia, Philippines, and Singapore. “I will offer these investments at the bilateral meeting,” said Budi during the Fourth Asia-Europe Meeting (ASEM) in Nusa Dua, Bali, […]
Read MoreThe central bank is expected to keep its benchmark interest rate unchanged near record lows on Wednesday, despite calls for a cut to contain the strength of the baht. The Bank of Thailand (BoT) has said monetary policy still supports the country’s economic recovery. Though inflation has remained weak, high household debt is limiting its […]
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