MANILA, Philippines — Philippine banks reported a three percent decline in net income to P53.98 billion in the first quarter from P55.68 billion in the same period last year as the value of bad debts written off by the banking industry tripled during the review period, according to the Bangko Sentral ng Pilipinas (BSP). Preliminary […]
Read MoreHDB upgraders were likely drivers of condominium resale transactions in April, property analysts noted after resale volumes hit an 11-year high according to flash figures from real estate portal SRX Property. There were 1,993 units resold in April 2021 – the highest monthly volume seen since April 2010. There was a 7.9 per cent increase […]
Read MoreThe value of investment projects submitted under the Board of Investment (BoI) tax incentive programmes skyrocketed by 80% year-on-year to 123.36 billion baht in the first quarter, driven mainly by the pandemic and subsequent measures to curb the spread of the virus, including a work-from-home guideline. From January to March, the BoI saw the number […]
Read MoreKUALA LUMPUR: The economy contracted at a smaller pace of 0.5% in the first quarter of this year as it extended its recovery from the 3.4% decline in the fourth quarter of last year. The Statistics Department said on Tuesday the firmer economic performance was supported by the expansion in manufacturing sector and the rebound […]
Read MoreThe Philippine and Malaysian economies continued contracting in the first three months of the year, adding to signs that some of Southeast Asia’s biggest nations are struggling amid a resurgence in coronavirus cases. The quarterly figures released Tuesday — which came in below all forecasts for the Philippines — add to recent weaker signals from […]
Read MoreGlobal supply chains will turn to Vietnam, India and Turkey for more diverse sourcing. US and other global buyers continue to choose Vietnam as one of the leading sourcing countries this year as they are seeking to diversify their buying away from China. The latest report, conducted by Qima, a provider of supply chain compliance […]
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