MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has instructed banks and financial institutions to stop withholding taxes on all income derived from the BSP’s government functions. The regulator issued Memorandum 2020 – 002 instructing authorized agent banks to discontinue withholding the two percent tax on service fees arising from bank deposit transactions with […]
Read MoreThe Central Bank of Myanmar (CBM) may consider reducing interest rates to better align with high inflation rates should the need occur, vice governor U Soe Min said at the Pyidaungsu Hluttaw on February 10. The current bank interest rate is 10percent while the minimum deposit rate is set at 8pc and maximum secured lending […]
Read MorePETALING JAYA: While the three banks Bank Negara has identified as crucial to the domestic banking sector are well-capitalised, the new regulatory framework would make mergers and acquisitions (M&A) more costly, says S&P Global Ratings. The rating agency believed the new systemically important banks (D-SIBs) framework would discourage Malaysian banks from contemplating domestic M&A, as […]
Read MoreSINGAPORE: Singapore’s coronavirus outbreak has spread to its financial centre, with some employees at major companies being told to work from home for at least the next few days and temperature screening checkpoints set up at the front doors of several towers. A worker at an unnamed firm in Marina Bay Financial Centre Tower 1 […]
Read MoreThe Hanoitimes – Customs clearance of Vietnam’s exports of agricultural products to China, including dragon fruit, via official channels is carried out as usual. The decision of Guangxi Zhuang Autonomous Region in China, and possible of Yunnan province, to extend the closure of border markets and suspend informal cross-border trade until the end of February would […]
Read MoreMANILA, Philippines — The National Tobacco Administration (NTA) has approved higher minimum buying prices for tobacco for the next two years after an agreement has been reached between farmers and the private sector. Stakeholders finalized an increase in tobacco floor prices by P2 across all types and grades. For Virginia tobacco, which makes up almost […]
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Thailand
