The cabinet on Tuesday resolved that cash-strapped Thai Airways International (THAI) would file for bankruptcy at the Central Bankruptcy Court in order to work out its rehabilitation plan. Prime Minister Prayut Chan-o-cha said it was the best course to help the troubled airline back onto its feet. Under the rehabilitation plan, THAI would not receive […]
Read MoreMANILA, Philippines — The creation of the country’s strategic petroleum reserve remains a priority despite difficulty in its implementation, according to Energy Secretary Alfonso Cusi. State-run Philippine National Oil Co. (PNOC) would still pursue its planned oil strategic reserve storage because the country needs it, Cusi said. “It’s still a go especially now that we […]
Read MoreVIETNAM could emerge from the coronavirus crisis with the strongest growth in South-east Asia, but the downside risks are also high, Dutch financial group Rabobank has warned. The Vietnamese economy is still tipped to stay in positive territory in 2020 with a 1 per cent expansion, despite the sharp slowdown from the 7 per cent […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is finalizing the guidelines for virtual assets and the operations of virtual asset service providers to prevent the country from becoming a haven for the financial transactions of criminals and terrorists. In a draft circular, the BSP said it wants to ensure that the Philippines would […]
Read MoreAFP – Thailand’s economy shrank for the first time in six years because of the Coronavirus pandemic, which has shut borders and devastated the tourism-reliant country. Some 40 million tourists were expected to arrive in Thailand this year, drawn to its sandy beaches, infamous nightlife and street food culture. But the outbreak has sharply bruised the […]
Read MoreIndonesian coal miners are struggling with slow demand this year as businesses in India, one of the country’s major coal markets, hit the brakes due to a prolonged lockdown to contain the COVID-19 outbreak, a data firm has said. The South Asian country’s coal imports, a commodity mostly used for power generation, is projected to decrease […]
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