MANILA, Philippines — The World Bank has downgraded its economic forecast for the Philippines this year following the still steep decline in output in the third quarter and the onslaught of devastating typhoons last month. In the December issue of the Philippines Economic Update, the multilateral lender said its now expects the gross domestic product […]
Read MoreThe Confederation of Indian Industry (CII), in partnership with the Ministry of Commerce and Industry, Government of India, held the sixth India-CLMV business conclave: Building Bridges for Constructive Development virtually with Cambodia, Lao PDR, Myanmar and Vietnam (CLMV). The two-day event earlier this month created a platform to strengthen India’s cooperation with the CLMV countries. […]
Read MoreKUALA LUMPUR: Top priority will be given to the development of digitalisation in the new services sector blueprint 2021-2025 to complement the Jalinan Digital Negara Plan (Jendela), the International Trade and Industry Ministry (Miti) said. Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said all new programmes on digitalisation under […]
Read MoreThe Thai National Shippers’ Council expects Thai exports will rebound to 3-5% growth next year, driven by the Regional Comprehensive Economic Partnership (RCEP) pact, Covid-19 vaccine progress and a fast economic recovery in China. Chairwoman Ghanyapad Tantipipatpong said on Tuesday the figures are based on the council’s “conservative forecast” for 2021 exports. The growth is possible […]
Read MoreFor clearer view of pandemic impact on banks MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has shortened to end-December the time given to banks to reclassify loans to borrowers as past due and non-performing, to see a clearer picture of the impact of the COVID-19 pandemic on the banking sector. BSP Deputy Governor […]
Read MoreBank Indonesia (BI) is urging commercial banks to cut lending rates and accelerate credit disbursements to lift the economy out of recession as loan channeling shrank for the first time in at least two decades due to weak demand and the banks’ risk aversion. BI Assistant Governor Aida S. Budiman said on Monday that banks […]
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