MANILA, Philippines — Money sent home by Filipinos overseas grew at a slower pace in July, as better exchange rates as a result of a weak peso allows expats to reduce the dollars they send to their families. Cash remittances coursed through banks went up 2.3% year-on-year in July to $2.92 billion, the Bangko Sentral […]
Read MoreKUALA LUMPUR: JP Morgan is optimistic that Malaysia will be able to meet the annual gross domestic product (GDP) growth of 7.7% in 2022, which is likely to be one of the highest in the region. According to JP Morgan Malaysia chief executive officer Wong Hooi Ching, the country’s economy is resilient with a strong […]
Read MoreIndonesia’s trade surplus widened in August, thanks to strength in the country’s exports. Southeast Asia’s largest economy recorded a trade surplus of $5.76 billion, wider than the $4.23 billion surplus in July. A poll of analysts by The Wall Street Journal expected a surplus of $4.69 billion. Indonesia recorded trade surpluses with India, the U.S. […]
Read MoreAsean countries together received $174 billion as Foreign Direct Investment (FDI) in 2021, a 42 percent rebound compared to the previous year, according to the Asean Investment Report 2022, released by the Asean Secretariat yesterday. The increase to near pre-pandemic levels reversed the 30 percent decline in 2020 ($122 billion) caused by the Covid-19 outbreak […]
Read MoreThe Bank of Thailand (BoT) on Wednesday said it had seen no unusual capital movements and the weakness in the baht currency was mainly driven by the strength of the US dollar. The BoT, in a text message to reporters, said the country’s external position and financial stability remained strong. The baht has weakened 8.8% […]
Read MoreMANILA, Philippines — The country’s automotive industry remains on track with its recovery as it continued to post double-digit sales growth in the eight months of the year, according to data from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA). In a joint report released yesterday, CAMPI-TMA said […]
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