MANILA, Philippines — The Asian Development Bank (ADB) has retained its growth forecast for the Philippines at 6.5 percent this year on the back of robust domestic demand, increased public investments in infrastructure and social services and positive business sentiment. In an update to its Asian Development Outlook (ADO) 2017, the Manila-based multilateral development bank […]
Read MoreKUALA LUMPUR: The ringgit continued Tuesday’s downtrend to be lower against the US dollar early Wednesday as the greenback strengthened on the possibility of another interest rate hike before the year-end, dealers said. At 9 am(0100gmt), the local unit depreciated to 4.2150/2190 from 4.2050/2080 recorded at 6 pm Tuesday. The US dollar appreciated overnight following […]
Read MoreFINANCE MINISTER Apisak Tantivorawong has insisted on waiving withholding tax levied on interest-based income in an excess of Bt20,000 on concerns over the possible impact on depositors, according to Revenue Department director-general Prasong Poontaneat. Prasong said the department will not abolish its exemption of withholding tax levied on the excessive amount of interest-based income of […]
Read MoreHANOI — Overnight interest rates in the inter-bank market hit a two-month high but liquidity of the banking system remained stable, a report from SSI Retail Research showed. According to the report, inter-bank rates last week increased for the past two consecutive weeks, pushing the overnight rate to hit two-month high of 0.9 per cent, […]
Read MoreCambodia as a member of the six-nation Greater Mekong Sub-region (GMS) endorsed a five-year action plan framework that includes $64 billion in projects to help the sub-region achieve inclusive growth and sustainable development. Ministers at the 22nd GMS Ministerial Conference on Friday celebrated 25 years of economic cooperation, acknowledging the achievements of an Asian Development […]
Read MoreInflation stayed at modest levels last month, though the cost of some services – including healthcare and education – continued to creep up. The trend is likely to persist, with the tepid job market and subdued economic environment expected to keep prices in check over the rest of the year. The consumer price index – […]
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Thailand
