MANILA, Philippines — The peso pierced the 53 to $1 resistance level yesterday, closing at a new 12-year low as traders braced for widely expected policy rate increase of the US Federal Reserve. The local currency closed 28 centavos lower at 53.23 from Monday’s close of 52.95. This was the weakest level for the peso […]
Read MoreThe Hanoitimes – After gaining tremendous achievements in attracting foreign direct investment (FDI) inflows in the past years, Vietnam now plans to focus only on high-quality FDI projects in a move to optimize the capital source a spillover effect on the domestic sector. FDI inflows in Vietnam has increased by nearly 1,000 percent over the last […]
Read MoreWing Specialized Bank, the local mobile banking provider, recently launched international remittance services from Malaysia, after inking a partnership deal with that country’s financial technology firm, Valyou. The deal aims to target Cambodian nationals living and working in the Asean nation. According to Wing’s announcement, more than 150,000 Cambodians are employed in Malaysia in various […]
Read MorePRIVATE-SECTOR economists have flagged faster-than-expected interest rate increases as one of the top risks to Singapore’s economy over the rest of the year, according to a new survey. The threat of a global trade war also remains a key concern among those polled in the survey conducted by the Monetary Authority of Singapore (MAS). The […]
Read MoreForeign investors planning to invest in domestic banks will still be required to seek approval from the Central Bank of Myanmar (CBM) to do so, U Soe Thien, vice governor of the central bank, told The Myanmar Timesyesterday. “According to the law, all firms are included under the 35 percent threshold. But, being financial institutions, local banks […]
Read MoreSuspending excise taxes on petroleum products amid rising inflation would do more harm than good to the economy and actually lead to higher consumer prices, the research and advocacy organization Action for Economic Reforms (AER) said on Wednesday. “The motivation behind suspending the fuel tax is supposedly to bring down inflation. Ironically, if you would […]
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Thailand
