MANILA, Philippines — The Philippines may suffer its sixth consecutive economic decline in the second quarter as the prolonged lockdown coupled with rising prices force families to reduce their consumption, an international think tank said. UK-based Pantheon Macroeconomics said gross domestic product (GDP) may further slip by 0.6 percent in the second quarter, with families […]
Read MoreCambodia will release 35 containers loaded with frozen meats and other frozen goods shipped from India that were stuck in Sihanoukville Autonomous Port customs control, after analysis results revealed no traces of the novel coronavirus. The containers had reportedly been shipped to the Kingdom prior to an indefinite ban imposed on May 1 on the […]
Read MoreThe cabinet on Tuesday approved in principle a measure to allow small-and-medium-sized enterprises (SMEs) to use their software or computer programme-related expenses as a deductible on corporate income tax at the rate of two times the expense in some cases, said the Revenue Department’s director-general, Dr Ekniti Nitithanprapas. The approval is aimed at encouraging SMEs […]
Read MoreThe baht opened at 31.17 to the US dollar on Wednesday, weakening from Tuesday’s closing rate of 31.10. The Thai currency is likely to move between 31.15 and 31.25 during the day, Krungthai Bank market strategist Poon Panichpibool said. He said the baht tended to move in a predictable range, as the direction of the […]
Read MoreThe Credit Bureau of Cambodia (CBC) released its Credit Consumer Index for the first quarter among economic uncertainty stemming from lockdowns, loan restructuring and disruption in the manufacturing sector. The report showed that “debt past due” (DPD) over 30 days increased by 2.24 percent across the board while total loan balances grew by 6.44 percent […]
Read MoreMANILA, Philippines — Bank lending shrank for the fourth straight month in March amid heightened risk aversion in the banking sector and tepid demand from borrowers as the pandemic continued to wreak havoc on the economy, the Bangko Sentral ng Pilipinas said. Data released by the BSP Monday showed outstanding loans granted by universal and […]
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