THE oncoming rise in unemployment will dwarf that during the global financial crisis (GFC) said ANZ Research in a report on Friday, adding that it is unlikely to revert to pre-COVID-19 levels even after activity starts to normalise. In particular, the unemployment situation could be more severe in economies with large informal sectors such as Indonesia and […]
Read MoreCambodia has signed avoidance of double taxation agreements (DTAs) with six countries in Asean and has more in the pipeline. The deals ultimate goal is to facilitate better investor access, an official at the General Department of Taxation (GDT) said yesterday. Seng Cheaseth, director, Department of Law, Tax Policy and International Tax Cooperation at GDT, […]
Read MoreThe global Covid-19 pandemic has led to the greatest impact on trading conditions around the world in recent memory. More than 3.6 million people have been infected globally, with nearly 3,000 having tested positive in Thailand. Since March 22, as a measure of social distancing, all shopping centres and retail outlets were ordered to close […]
Read MoreMANILA, Philippines — The economy may contract further in the second quarter due to the coronavirus disease 209 or COVID-19 outbreak, according to Finance Secretary Carlos Dominguez. In a statement, Dominguez said the economy may head deeper into the negative territory in the second quarter after contracting by 0.2 percent in the first quarter. Dominguez, […]
Read MoreA stimulus package cobbled together by the government to mitigate against COVID-19 economic shocks has been largely welcomed by businesses and investors although details were vague. There are also doubts over the plan’s capacity to support swathes of Myanmar’s formal and informal economy. The government’s 15-page document, released April 27, listed more than 50 measures […]
Read MoreThe government is reassessing the cost of assistance to laid-off garment workers affected by the COVID-19 pandemic as it braces itself to spend more on rising unemployment, says the Ministry of Economy and Finance. According to the Garment Manufacturers of Cambodia (GMAC), nearly 200 factories suspended their operations because of the COVID-19 pandemic, wiping out […]
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