The Asian Development Bank (ADB) has revised its 2020 growth forecast, predicting Cambodia’s economy will contract 4 percent, from its previous prediction of a 5.4 percent contraction in June, because of improved agricultural performance and increased volume of non-garment manufacturing. It added that it expects the local economy to rebound to grow 5.9 percent in […]
Read MoreIndonesian peer-to-peer (P2P) fintech firms have reported an increase in bad loans to 7.99 percent in July as many borrowers have lost their sources of income due to the COVID-19 crisis, the Indonesian Fintech Lenders Association (AFPI) has stated. The proportion of defaulted loan after 90 days has continuously worsened since March, when it stood […]
Read MoreThe Ministry of Planning and Finance issued an order on September 22 extending the deadline for tax payment on the unassessed income for the 2019-2020 fiscal year until December 30. The previous deadline was September 30, which is the end of the 2019-2020 fiscal year. However, the Myanmar Economic Bank, which receives tax payment, was […]
Read MoreKUALA LUMPUR, Sept 24 — A new multinational study has revealed that Malaysians are on the whole reasonably satisfied with their e-commerce platforms and providers, but feel more can be done to improve their service. Singapore-based social research agency Blackbox Research and consumer intelligence platform Toluna said the Covid-19 pandemic has led to a spike […]
Read More8-month deficit expands more than 6-fold MANILA, Philippines — The country’s fiscal deficit widened further to P740.7 billion in the eight months to August, a sharp 515 percent increase from P120.4 billion a year ago as the coronavirus pandemic continued to weaken revenues amid an increase in spending, the Bureau of the Treasury (BTr) said. […]
Read MoreSINGAPORE’S banking system may be among the first to recover to pre-Covid-19 levels, S&P Global Ratings said in a report on Thursday. The Republic’s banking system was identified as an “early-exiter” with low negative impact when it comes to recovery prospects for banking jurisdictions. Expected recovery will be by the end of 2022. S&P said […]
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Thailand
