Two state-backed banks — Government Savings Bank (GSB) and GH Bank — and Siam Commercial Bank (SCB) have hopped on the rate-cutting bandwagon by trimming their lending rates, effective from Friday. GSB is passing on in full the central bank’s 25-basis-point reduction for the minimum retail rate (MRR) and minimum overdraft rate (MOR), said Chatchai […]
Read MorePreah Sihanouk province will soon become a multi-purpose special economic zone and potentially the industrial hub of Cambodia, according to a senior official from the Ministry of Economy and Finance. Speaking at the Public Forum on Macroeconomic Management and Budget Law 2020, Vongsey Vissoth, permanent secretary of state of the Ministry of Economy and Finance, […]
Read MoreThe government’s economic growth target in 2020 is unrealistic given last year’s sluggish economic expansion and looming risks from the coronavirus outbreak, economists have said. Institute for Development of Economics and Finance (Indef) economist Abdul Manan Pulungan said the global uncertainty that hampered global growth last year would continue this year, adding that there was […]
Read MoreManila, Philippines — The outbreak of the 2019 novel coronavirus (nCoV) may cut the country’s gross domestic product (GDP) growth by 0.3 percentage point this year, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno told reporters on the sidelines of the general membership meeting of the Management Association of the Philippines (MAP) […]
Read MoreKUALA LUMPUR: Malaysia remained an attractive investment destination for Japanese firms despite the current weak global economic environment. Japanese Chamber of Trade and Industry (Jactim) vice-president Daiji Kojima said the cost of doing business in Malaysia is still affordable and the country’s geographic location is also good for trade movement. “(However) other Asean countries are […]
Read MoreThe Bank of Thailand still has monetary policy space to support the country’s economic growth if necessary, its chief says. Central bank governor Veerathai Santiprabhob’s comments came a day after rate-setters cut the policy rate by a quarter-point to a historical low of 1%. “The Bank of Thailand is the first central bank to take […]
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