THE chatter on wealth taxes has been increasing in intensity over the past year. The reason propounded for an implementation is to promote an inclusive society by finding additional sources of government revenue to fund various altruistic schemes. The shift away from taxing income to that of wealth is perhaps a way, but not the […]
Read MoreMANILA, Philippines — Sales of imported vehicles shrank month-on-month in July, and the industry might be headed to a deeper fall as new lockdowns in August weigh on demand. What’s new Imported cars sold reached 4,862 units last month, narrower by 2% compared to June sales, data from Association of Vehicle Importers and Distributors Inc. (AVID) […]
Read MoreCambodia is getting ready to launch a 2021-2023 plan to lift the economy out of the Covid-19 rut and chart a course for sustainable and inclusive growth, according to Minister of Economy and Finance Aun Pornmoniroth. Centred on enhancing competitiveness and promoting economic diversification, the plan will be firmly grounded on maintaining a strong industrial […]
Read MoreMANILA, Philippines — Philippine foreign trade slipped 15 percent last year as the pandemic prompted restrictions across countries that weakened the overall global economy. Based on the updated foreign trade performance released by the Philippine Statistics Authority (PSA), merchandise trade sank by 15 percent to $155 billion for the whole of 2020. Imports plummeted 19.5 […]
Read MoreThe Bank of Thailand plans to test its Retail Central Bank Digital Currency (Retail CBDC) in next year’s second quarter, allowing all related parties to participate in the testing process. The central bank studied and surveyed Retail CBDC implementation with all stakeholders, including consumers, financial institutions, merchants, the government sector and others. Based on the […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has imposed a three-year moratorium on the grant of digital banking licenses starting next month to closely monitor the performance and impact of the new banking classification on the industry. In his weekly virtual press conference, BSP Governor Benjamin Diokno said the central bank’s Monetary Board […]
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