MANILA, Philippines — The group representing the country’s biggest miners warned lawmakers yesterday that the planned imposition of higher taxes would kill the mining industry. “At present, we are paying a four percent excise tax. If you impose an additional five-percent royalty, plus local taxes, the total would be close to 12 percent. That will […]
Read MoreThe Bank of Thailand plans to set regulations for peer-to-peer (P2P) lending service by the year-end, widening opportunities for small-business operators to access financial sources. The central bank expects to set out regulations to cover all related parties, including P2P lending platforms, borrowers and lenders, said assistant governor Ruechukorn Siriyothin. The Bank of Thailand and […]
Read MoreState-owned energy holding company Pertamina’s oil imports stood at an average of 393,000 barrel per day (bpd) up to August, 6 percent higher than in the entire year of 2017, when it imported 370,000 bpd on average. The company’s official presentation, circulated among the media on Wednesday, shows that Pertamina’s gasoline imports stood at 316,000 bpd, […]
Read MoreMOST Asian markets rose on Wednesday, with energy firms surging along with oil prices, as traders await the conclusion of a key Federal Reserve policy meeting. While worries about the China-US trade row continue to erode confidence, the strong US economy and healthy corporate outlook are providing some buoyancy for now. The weekend decision by […]
Read MorePETALING JAYA: In view of the continuing imbalance in the overall property sector, dominated by the office, retail and residential segments, banks will remain cautious when lending to the office space and shopping complex segments, Bank Negara’s Financial Stability Review for the first half of 2018 says. In the office and shopping complex segments, excess […]
Read MoreThe Asian Development Bank (ADB) forecasts that Cambodia’s gross domestic product (GDP) will grow by 7 percent in 2018 and 2019, backed by strong export growth, robust tourist arrivals, buoyant domestic demand, and an expansionary fiscal policy. In an update of its flagship publication, Asian Development Outlook (ADO) 2018, released yesterday, ADB said the local […]
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