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Indonesia – No panic buying, please: Retail associations urge consumer restraint amid COVID-19 scare

Indonesia’s retail and shopping center associations were urging consumer restraint after news about the confirmed cases of COVID-19 in Indonesia triggered panic buying sprees. The Indonesian Retailers Association (Aprindo) and Indonesian Shopping Centers Tenants Association (Hippindo) issued statements on Monday which assured their members’ that food and non-food supplies were going to be more than enough […]

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Indonesia plans new stimulus package to shore up economy

JAKARTA: Indonesia is working on a second stimulus package to shore up South-East Asia’s biggest economy, adding to the central bank’s aggressive moves to counter the impact of the coronavirus on financial markets. A new tranche of fiscal measures would be “sizeable” and “bigger” than the first one of 10.3 trillion rupiah (US$725mil) announced last […]

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Covid-19 may weigh on Vietnam banks’ performance: Fitch Ratings

The Hanoitimes – Fitch Rating keeps the positive rating outlook for Vietnamese banks. The Covid-19 outbreak will hit Southeast Asian banking sectors through weaker economic growth, slower credit growth and dampened profitability, and Vietnam’s banking industry will also take a hit, Fitch Ratings has said in a note. In Vietnam, reduced tourism, disrupted manufacturing supply chains […]

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Thailand: Cancelled conferences hit hotel income

Hotels are bracing to lose another major source of revenue as companies opt to make announcements online or through video conferencing to avoid contact with the coronavirus, rather than the typical method of pricey hotel press conferences. Major companies like Advanced Info Service (AIS), Lazada, Allianz Ayudhya Assurance and Kasikornbank are opting for teleconference calls […]

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