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Philippines: Recession seen to extend to Q2

MANILA, Philippines — The Philippines may suffer its sixth consecutive economic decline in the second quarter as the prolonged lockdown coupled with rising prices force families to reduce their consumption, an international think tank said. UK-based Pantheon Macroeconomics said gross domestic product (GDP) may further slip by 0.6 percent in the second quarter, with families […]

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Thailand: SMEs to get tax break on software-related expenses

The cabinet on Tuesday approved in principle a measure to allow small-and-medium-sized enterprises (SMEs) to use their software or computer programme-related expenses as a deductible on corporate income tax at the rate of two times the expense in some cases, said the Revenue Department’s director-general, Dr Ekniti Nitithanprapas. The approval is aimed at encouraging SMEs […]

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Thailand: Baht could weaken today

The baht opened at 31.17 to the US dollar on Wednesday, weakening from Tuesday’s closing rate of 31.10. The Thai currency is likely to move between 31.15 and 31.25 during the day, Krungthai Bank market strategist Poon Panichpibool said. He said the baht tended to move in a predictable range, as the direction of the […]

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Cambodia: Outstanding loans not at worrisome level: ABC

The Credit Bureau of Cambodia (CBC) released its Credit Consumer Index for the first quarter among economic uncertainty stemming from lockdowns, loan restructuring and disruption in the manufacturing sector. The report showed that “debt past due” (DPD) over 30 days increased by 2.24 percent across the board while total loan balances grew by 6.44 percent […]

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