MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may maintain the benchmark interest rate at a record low of 2.25 percent until late next year to allow the economy to recover from the impact of the COVID-19 pandemic, according to Fitch Solutions Country Risk & Industry Research. In its latest research note titled “Philippine […]
Read MoreThe Eastern Economic Corridor (EEC) Policy Committee on Monday approved feasibility studies on three new development projects worth a combined 1.18 trillion baht, aiming to create connectivity between the government’s flagship EEC and regional industry. The three new projects are a trio of dry ports worth a combined 24 billion baht in Khon Kaen, Nakhon […]
Read MoreThe Cambodian government is working hard at becoming more flexible to attract foreign investments and boost external trade to keep pace with the ever changing global trading environment. A Ministry of Economy and Finance (MEF) spokesman, Meas Soksensan, said that in the time of the global virus pandemic, compounded by the on-going trade war between […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is now expecting a deeper gross domestic product (GDP) contraction of seven to nine percent this year as the economy stalled due to containment measures to slow the spread of COVID-19. In a virtual conference, BSP Governor Benjamin Diokno told members of the Financial Executives of […]
Read MoreThe Finance Ministry is preparing to roll out a tax rebate and cash handout incentives to shore up consumer spending. The two measures will be implemented to entice consumer spending, with the format adjusted from the “Taste, Shop, Spend” and “Shopping for the Nation” schemes, with the core focus to stimulate taxpayer spending through tax […]
Read MoreThe National Bank of Cambodia (NBC) is continuing to accept small denomination US banknotes ($1, $2 and $5) “free of charge” from financial institutions, despite the August 31 deadline it had set out in May. The NBC made the comments as Cambodia’s largest microfinance institution, Prassac, announced internal discussions to deliberate the swapping of the […]
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