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Philippines: Factory output picks up in October

MANILA, Philippines — Philippine manufacturing output picked up in October from the previous month with 14 industry divisions registering increases, according to the Philippine Statistics Authority (PSA). Preliminary results of the Monthly Integrated Survey of Selected Industries released by the PSA yesterday showed manufacturing output, as measured by the Volume of Production Index (VoPI), registered […]

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World Bank says Cambodia’s current account improved in the first half of 2022 as trade deficit narrowed

The World Bank in its report released yesterday said Cambodia’s goods export growth accelerated,  surpassing its pre-pandemic growth rate. In the first 8 months of 2022, merchandise exports surged, growing at 28.6 percent y/y, driven largely by exports of main manufacturing products, namely garment, travel goods, and footwear, which grew at 30.3 percent y/y. Merchandise […]

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Thailand: Local banks forecast to move this week

Local banks are expected to raise interest rates this week following the Bank of Thailand’s recent policy rate hike, while borrowers could face a normalisation of loan rates for next year. Two large Thai banks, Siam Commercial Bank (SCB) and Kasikornbank (KBank), already increased prime interest rates for both deposits and loans. Last week the […]

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Thailand: 10m foreign tourist target nears

The economy remains firmly on a path towards economic recovery despite growing uncertainties from inflation, geopolitical risks and a potential global recession next year, the finance minister said on Wednesday. Arkhom Termpittayapaisith said tourism is helping drive Thailand’s recovery after the Covid-19 pandemic. During the first 10 months of this year, the kingdom welcomed nearly 7.2 million […]

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ADB approves $50m loan for Cambodia to boost competitiveness

The Asian Development Bank (ADB) has approved a $50m policy-based loan aimed at supporting the government of Cambodia to diversify the country’s economy and boost its global competitiveness. The loan will support Cambodia’s post-COVID-19 economic recovery by supporting government reforms to enhance the investment and business environment; foster the growth of micro, small, and medium-sized […]

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