Malaysia, the world’s second largest palm oil producer, will take legal action against the European Union’s restrictions on palm oil-based biofuels with the World Trade Organization (WTO), calling the policy a “discriminatory action”. Plantation Industries and Commodities Minister Mohd Khairuddin Aman Razali said on Wednesday the EU’s renewable energy directive “restricts free trade practices”. “The […]
Read MoreEuropean countries have agreed to postpone Myanmar’s loan repayments totalling around US$100 million due this year. The bloc urges China to do the same. Austria, Finland, France, Germany, the Netherlands and Poland have deferred repayments totalling $98 million including interest for the May to December 2020 period. The debt amount comprises 20 percent of Myanmar’s […]
Read MoreAlong with implementing better provisions against credit risks, commercial banks are stepping up the sale of mortgaged assets to collect debts. Commercial banks have been offering to sell mortgaged assets, from high-end apartments, land and townhouses to cars, equipment and production workshops, in order to collect debts. The Vietnam Asset Management Company (VAMC) has also […]
Read MoreGENEVA: Global tourism revenues are expected to fall by up to US$3.3 trillion due to Covid-19 restrictions, with Thailand standing to lose $47 billion, according to a UN study published on Wednesday. The ‘Covid-19 and Tourism’ report released by the United Nations Conference on Trade and Development (Unctad) is based on three scenarios for the […]
Read MoreTo fund coronavirus response efforts MANILA, Philippines — The Philippines has secured a loan of 50 billion yen (P23.5 billion) from the Japan International Cooperation Agency (JICA) to augment funds for the government’s coronavirus disease 2019 (COVID-19) response efforts. Finance Secretary Carlos Dominguez, on behalf of the Philippine government, and JICA chief representative Eigo Azukizawa […]
Read MoreAs of May, government data shows COVID-19 forced the closure of nearly 3,000 tourism-based business and left more than 45,045 staff members unemployed. The unemployment and rising debt would severely affect the social economy while the Minister of Tourism estimated that the tourism sector would see a huge loss of $3 billion in revenue this […]
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Thailand
