SINGAPORE – More muscle to prevent unsuitable individuals from working in the finance industry and strengthen the framework for technology risk management are among the new proposals made by the Monetary Authority of Singapore (MAS) to deal with risks that can undermine the financial sector. It issued a consultation paper proposing such enhanced powers on […]
Read MoreIndonesia recorded a Rp 257.8 trillion (US$17.5 billion) budget deficit in the first half of the year as the government seeks to bolster stimulus spending to cushion the coronavirus-battered economy. The deficit amounts to 1.57 percent of the country’s gross domestic product (GDP), the highest half-yearly deficit recorded since the first half of 2016 but […]
Read MoreMANILA, Philippines — Assets of Philippine banks posted a double-digit growth in end May as the COVID-19 pandemic continued to threaten economies and financial systems around the world. Data from the Bangko Sentral ng Pilipinas (BSP) showed total resources of the Philippine banking system reached P19.14 trillion in end May, or P1.69 trillion higher than […]
Read MoreThe government of Myanmar will provide K40,000 to each of over 5.4 million households with unregular income across the country: K20,000 in late July and the other K20,000 in late August, according to U Zaw Htay, Director-General of the Ministry of State Counsellor Office. When providing financial assistance, the government will pay the families in […]
Read MoreThe upcoming national holidays will increase accommodation fees and prices of other tourism services after so many businesses lost money for a half year after closing because of COVID-19. More people are expected to travel nationwide. Taing Socheat Kroesna, director of the Preah Sihanouk Provincial Tourism Department, said that the rise in tourists expected for […]
Read MoreBest Inc, a Chinese logistics firm backed by e-commerce titan Alibaba, plans to invest 300 million baht in the second half to boost its express delivery service, Best Express, in Thailand. The company wants to tap the booming logistics industry, buoyed by online shopping, in the wake of the pandemic. The amount is part of […]
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