JAKARTA: Indonesia’s public works ministry on Monday proposed around 12.7 trillion rupiah ($807.68 million) in extra funds over the next two years to speed up construction of the country’s new capital city on Borneo island. If approved by the finance ministry, the public works ministry will see a 30% rise to around 55.7 trillion rupiah in […]
Read MoreThe global chip race is heating up, and Viet Nam should be able to raise its position on the global semiconductor manufacturing map as some leading corporations are investing in chip production in the country, local economists said. Prof. Nguyen Mai, President of the Vietnam Association of Foreign Invested Enterprises (VAFIE), said the adverse impact […]
Read MoreMANILA, Philippines — The Philippines’ budget deficit is expected to remain wide as the Marcos administration prepares to execute a plan to bring the gap to pre-pandemic levels, according to Singapore-based DBS Bank Ltd. In a report, DBS economist Chua Han Teng said the Philippines aims to reduce the budget shortfall by one percentage point […]
Read MoreThe poverty rate in Cambodia, which had declined by almost half between 2009 and 2019, increased again with the Covid-19 outbreak, says a World Bank report released yesterday. Cambodia’s poverty declined from 33.8 percent to 17.8 percent in 10 years to 2019 with almost 2 million Cambodians coming out of poverty, says the World Bank’s […]
Read MoreThe Thai economy has stabilised, with inflationary pressures subsiding and public debt still below 70% of the country’s GDP, according to the Fiscal Policy Office (FPO). The government’s fiscal and monetary status remains strong, with US$202 billion in foreign reserves as of October, the FPO said. Pornchai Thiraveja, director-general of the FPO, said private consumption […]
Read MoreSINGAPORE hotels’ average room rate (ARR) slipped in October, but was still the next highest rate recorded following September 2022’s 14-year high, Singapore Tourism Board data showed on Tuesday (Nov 29). ARR was up 76.2 per cent from the year-ago period to S$281.89, even as it was marginally lower than September’s revised record of S$283.47, […]
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