While the world is in a crisis over the lack of empty containers to deliver goods, leading to skyrocketing shipping fees, thousands of containers are idling away at Vietnamese seaports. Nguyen Anh Vu, director of Haiphong Maritime Administration, said that as of July 21, Haiphong has 2,708 containers waiting for use. The seaports and inland […]
Read MoreMANILA, Philippines — The Philippines faces the likelihood of a credit rating downgrade from debt watchers if the country fails to immediately address the scarring effects caused by the COVID-19 pandemic, according to Dutch financial giant ING Bank. Nicholas Mapa, senior economist at ING Bank Manila, said at least two credit rating agencies recently flagged […]
Read MorePETALING JAYA: Malaysia’s exports to all major markets, namely Asean, China, the United States, the European Union and Japan, recorded double-digit expansion in June. The strong exports turbo-boosted Malaysia’s total trade performance, which surpassed RM1 trillion in value in just the first six months of the year. According to the International Trade and Industry […]
Read MoreThe International Monetary Fund (IMF) has cut its annual growth forecast for Emerging Asia. It warned that a slower-than-expected vaccine rollout, further virus mutations and tighter financial conditions are risks in the region. It cut its forecast for Gross Domestic Product (GDP) in Emerging and Developing Asia by 1.1 percentage points to 7.5 percent this […]
Read MoreThe ongoing disruption in Ho Chi Minh City and southern provinces poses a threat to the global supply chain of multinational corporations, which source goods from Vietnamese-based suppliers. Nike could soon face a shortage of sneakers as two suppliers – South Korea’s Changshin Vietnam and Taiwan’s Pou Chen Corporation – have had to cease operations […]
Read MoreWe forecast the baht to trade weaker over the near term given continued headwinds to the economy from Covid-19. The spread of the Delta variant has resulted in Thailand battling its worst outbreak since the pandemic began, with new cases averaging above 14,000 daily and deaths above 100. Authorities have responded by tightening mobility restrictions, […]
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