Along with implementing better provisions against credit risks, commercial banks are stepping up the sale of mortgaged assets to collect debts. Commercial banks have been offering to sell mortgaged assets, from high-end apartments, land and townhouses to cars, equipment and production workshops, in order to collect debts. The Vietnam Asset Management Company (VAMC) has also […]
Read MoreGENEVA: Global tourism revenues are expected to fall by up to US$3.3 trillion due to Covid-19 restrictions, with Thailand standing to lose $47 billion, according to a UN study published on Wednesday. The ‘Covid-19 and Tourism’ report released by the United Nations Conference on Trade and Development (Unctad) is based on three scenarios for the […]
Read MoreTo fund coronavirus response efforts MANILA, Philippines — The Philippines has secured a loan of 50 billion yen (P23.5 billion) from the Japan International Cooperation Agency (JICA) to augment funds for the government’s coronavirus disease 2019 (COVID-19) response efforts. Finance Secretary Carlos Dominguez, on behalf of the Philippine government, and JICA chief representative Eigo Azukizawa […]
Read MoreAs of May, government data shows COVID-19 forced the closure of nearly 3,000 tourism-based business and left more than 45,045 staff members unemployed. The unemployment and rising debt would severely affect the social economy while the Minister of Tourism estimated that the tourism sector would see a huge loss of $3 billion in revenue this […]
Read MoreA travel bubble plan for leisure travellers has been drafted with three phases for opening, starting with a mere 1,000 tourists per day across five provinces. Phiphat Ratchakitprakarn, the tourism and sports minister, said the ministry already asked the Association of Thai Travel Agents (Atta) and the Tourism Council of Thailand (TCT) to design 6-7 […]
Read MoreMANILA, Philippines — The national government has released almost P375 billion in funds for the implementation of measures against the coronavirus disease 2019 or COVID-19 pandemic, the Department of Budget and Management (DBM) reported. According to the latest data on the DBM website, funds amounting to P374.89 billion have been transferred to state agencies and departments for […]
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Thailand
