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Philippines: Low base boosts June car sales to 4-month high

MANILA, Philippines — Car sales soared to a 4-month high in June to post another double-digit growth, as low base effects from last year’s pandemic-induced slump continued to bloat the figures. What’s new Carmakers sold 22,550 units in June, up 44.8% year-on-year, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers […]

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Malaysia to cut 2021 GDP growth outlook

PETALING JAYA: Malaysia will lower its economic growth outlook for this year due to movement restrictions against Covid-19, the country’s finance minister said, signalling the government may forecast expansion around 4%. While there’s optimism that the current surge in cases can be contained and lockdowns can be eased, the government still expects to lower its […]

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Thailand: BoT mulls revision of GDP forecast

The Bank of Thailand (BoT)’s view is that the government’s latest lockdown measures will lead to higher downside risks for the Thai economy amid the spread of the Delta variant of Covid-19, which is fuelling the latest wave of infections. The government’s new round of tighter lockdown measures and travel curbs reflect a higher downside […]

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Philippine peso breaches 50

The Philippine peso slumped to a one-year low last week amid a strengthening US dollar and volatile oil prices. As a result, the peso weakened to 50.17 last Friday before closing at 50.08. This is the biggest one-week drop since 2013. Year-to-date, the peso has declined by 4.27 percent. The recent weakness of the peso […]

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