MANILA, Philippines — As cigarette prices go up every year due to mounting taxes, smugglers are having a field day in far-flung areas particularly in Mindanao, where as many as three in every five packs are cheap, but illicit. “I think it should be noted that in Mindanao, illicit trade can reach up to 60 […]
Read MoreSINGAPORE has climbed back up to become the world’s 3rd most competitive economy, after having slipped to 5th place in 2021 following 2 straight years at the top. In the 2022 Institute for Management Development (IMD) World Competitiveness Ranking, Denmark claimed the top spot for the first time, pushing Switzerland down to 2nd place. Singapore, […]
Read MoreE-marketplace Shopee is pursuing layoffs across markets in Asean, including Thailand, according to industry sources, as the company is believed to have become more cautious about spending and more focused on attaining profitability rather than burning cash. The sources, who requested anonymity, echoed an earlier report by dealstreetasia.com which indicated that the layoffs have affected […]
Read MoreThe Ministry of Finance (MoF) has put forward a proposal to impose a maximum reduction to the environmental protection tax placed on fuel products in an attempt to curb retail petrol and oil prices that have kept rising over the past months. According to Deputy Finance Minister Nguyen Duc Chi, recent developments have shown that the petroleum market continues to […]
Read MoreLAOS with dwindling cash reserves and surging inflation is facing some of the same strains that pushed Sri Lanka to default and threatens Pakistan’s balance of payments. Fuel shortages across the South-east Asian country of 7.5 million people is the latest sign of distress, the result of elevated oil prices and a plunging currency. Most […]
Read MoreTourism will be the key engine supporting Thailand’s economic recovery, replacing the slowing export sector, says the Economic Intelligence Center (EIC), a research house under Siam Commercial Bank. The EIC has upgraded its forecast for foreign tourist arrivals in 2022 to 7.4 million, up from 5.7 million, but the number is still far below the […]
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