MANILA, Philippines — MUFG Bank Ltd. is expecting a slower recovery pace for the Philippines in the second half as financial tightening became a global phenomenon led by the hawkish US Federal Reserve. “The financial tightening likely causes an overall lower Asia GDP growth in the second half. Specifically, we expect the recovery pace of […]
Read MoreCurrent account deficit projected to shrink as tourism revives and central bank hikes rates The Finance Ministry expects the baht’s value to rebound in the second half this year, in line with the anticipated narrowing of the current account deficit, says a ministry source who requested anonymity. According to Reuters, Bank of Thailand officials said […]
Read MoreMany commercial banks continue raising deposit interest rates amid increasing pressure on inflation and monetary tightening. Agribank has raised the interest rates by 0.1 percentage point for 12-month term or longer deposits, to 5.6 percent per annum, applied since July. This is the highest interest rate offered by the bank. Private banks also have raised […]
Read MoreThe Ministry of Economy and Finance and the National Bank of Cambodia last week rolled out the KHQR to standardise banking QR codes. Payment using QR code is easy, fast and secure. Officials said financial technology is integral to the development of today’s digital payment systems. The banks and payment service providers are competing to […]
Read MoreA year after the UK-Vietnam Free Trade Agreement (UKVFTA) came into effect in early 2021, trade between the two countries has shown significant growth despite the impact of the COVID-19 pandemic. Accordingly, trade between Vietnam and the UK reached 6.6 billion USD in 2021, an increase of 17% on the year and equivalent to the […]
Read MoreDespite manufacturers’ insistence on the need to increase their product prices to cope with higher production and raw material costs, the Commerce Ministry remains adamant that prices should remain frozen. The ministry is calling for continued cooperation from manufacturers to help maintain their product prices as long as possible in order to curb negative effects […]
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Thailand
