JAKARTA: Indonesia’s economy contracted more than expected in the first quarter (Q1), as one of the fastest vaccine rollouts in South-East Asia hasn’t been enough to revive domestic demand. Gross domestic product (GDP) declined 0.74% in Q1 from a year ago, the statistics bureau said yesterday, worse than the median estimate of -0.65% in a […]
Read MoreTax policies for the real estate sector must be carefully studied and introduced at the appropriate time to ensure feasibility and limit speculation, according to the Ministry of Finance. This was the ministry’s response to a proposal from the HCM City Real Estate Association that the Government should tax the conversion of agricultural and non-agricultural land to […]
Read MoreMoody’s Investor Service reported the pandemic boosted corporate defaults in emerging markets (EM) to 7.7 percent in March, but that figure is projected to fall to 4 percent by year-end. “The recovery is likely to be uneven across EM countries and, thus, default rates will vary between countries. A resurgence of virus infections, slow vaccinations, […]
Read MoreAverage fuel consumption contracted by 7.7% to 138.9 million litres per day in the first quarter due mainly to the recurrence of Covid-19, says the Department of Energy Business (DOEB). Consumption stood at 150.6 million litres per day during the same period last year. Demand for almost all types of petroleum products, including benzine and […]
Read MoreKUALA LUMPUR: Malaysia’s industrial production index (IPI) surged 9.3% in March from a year ago, exceeding a Bloomberg survey of an 8.7%, as the growth was powered by the manufacturing and electricity segments. This was the strongest growth since July 2013. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said on Thursday the growth of […]
Read MoreMANILA, Philippines — Fewer Filipinos were unemployed in March than a month ago, but some of those likely relegated back to joblessness last month when lockdowns returned and businesses shut down anew in key urban areas. The harsh reality underscores the calamitous impact of pandemic restrictions in livelihood as well as the fragility of an ongoing […]
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Thailand
