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Philippine growth outlook dims further

MANILA, Philippines — The prospects of a strong economic rebound for the Philippines this year continue to fade as mobility restrictions and slow COVID-19 vaccine rollout are blocking the road toward recovery, a global think tank said. In its latest Global Outlook, London-based Oxford Economics slashed its gross domestic product (GDP) forecast for the country […]

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Cambodia: Banks warned against complacency

Cambodian banks have reaped great success via strong economic growth and high gross interest assets, but that has also resulted in complacency, which makes it imperative for commercial banks to adjust in the face of increased competition from incoming fintech companies. This according to Michael Lor Chee Leng, Senior Advisor to the EMFA, a not-for-proft […]

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Vietnam: Ministry proposes removing regulation on foreign-ownership ratio in petrol trading firms until PM reviews

The Ministry of Industry and Trade (MOIT) has proposed removing a tentative regulation in a draft decree that says foreign investors can hold up to 35 percent of shares of petroleum trading companies. MOIT has submitted a statement to the Government about amending some articles of the decree 83/2014 on petroleum trading management. The document was […]

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Philippines: Banks’ bad loans hit 11-year high

MANILA, Philippines — The asset quality of Philippine banks further deteriorated for the second straight month in February as the industry’s gross non-performing loan (NPL) ratio rose to 4.08 percent, the highest in more than 11 years due to the impact of the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas (BSP). The latest […]

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