MANILA, Philippines — Anemic demand for dollars from importers coupled with lenders’ hesitation to extend credit further sank foreign currency loans granted by big local banks last year. What’s new Banks lent out $16.7 billion under the foreign currency deposit units (FCDUs) as of December last year, down 3.6% on a quarter-on-quarter basis, the Bangko Sentral […]
Read MoreAs uncertainties has led to HSBC revising down Vietnam’s GDP growth forecast in 2021 to 6.6%, the bank expected a strong rebound to 8.5% next year. Despite a weaker-than-expected GDP growth in the first quarter at 4.48%, Vietnam still boasts one of the brightest growth prospects in Asia, according to HSBC. Upswing in the tech […]
Read MoreThe Tourism and Sports Ministry is considering offering free cross-provincial flights for foreign tourists after airline workers are approved for Covid-19 inoculation this week. “From July 1, inoculated tourists exempt from quarantine might be tempted to extend their stay here after spending 10 days in Phuket if we can provide them free or discounted air […]
Read MoreThe future success of the economic relationship between the United States and Cambodia could hinge on managing geopolitical tensions, evolving the agricultural sector and providing clear legal frameworks to improve the investment climate, according to a panel of experts who spoke at a webinar hosted by the Asian Vision Institute (AVI) and the US embassy. […]
Read MorePETALING JAYA: Bank Negara’s move to adjust downward the lower end of its growth projection for 2021 indicates that risks remain tilted towards the downside for the Malaysian economy, said economists. Despite signs of gradual recovery, the national economy continues to see risks from a resurgence in Covid-19 cases and the relevant containment measures, delays […]
Read MoreHopes that these trends will continue and that the Covid-19 pandemic will come to an end supported the greatest business confidence since mid-2019. The Vietnam Manufacturing Purchasing Managers’ Index (PMI) rose to 53.6 in March, up from 51.6 in February, signaling a solid improvement in the health of the manufacturing sector. In fact, business conditions […]
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