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Malaysia: Fitch retains long-term rating, GDP to grow 5.8% in 2021

PETALING JAYA: Fitch Ratings has affirmed Malaysia’s long-term foreign-currency issuer default rating (IDR) at “A-”. The agency has however revised the outlook from “stable” to “negative”. According to a statement by Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, yesterday, Fitch has also projected the Malaysian economy to register a growth of 5.8% in […]

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Strong measures required to avoid economic collapse: Vietnam PM

The Hanoitimes – In addition to stimulus packages, the government is scheduled to issue a comprehensive resolution detailing drastic measures to help spur economic growth. The Vietnamese government will take further bold measures to avoid economic contraction and even collapse, according to Prime Minister Nguyen Xuan Phuc. A disruption to socio-economic activities and failure to set […]

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Myanmar opens up to seven more Asian banks

Myanmar has granted operating licences to seven Asian banks, bringing to 20 the number of foreign banks allowed to do business in the previously isolated market. Bank of China (Hong Kong), Taiwan’s Cathay United Bank and Mega International Commercial Bank, Industrial Bank of Korea, Seoul-based KB Koomin Bank, Korea Development Bank and Siam Commercial Bank […]

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Thailand: Some Retail Chains Fight for Survival

First, the store doors shut. Now, the walls are closing in. Retailers have furloughed hundreds of thousands of workers, cut executive pay and stopped paying rent, all to conserve cash. For the most indebted retailers, particularly those already struggling before the crisis began, those measures may not be enough. Neiman Marcus Group Inc. and J.C. […]

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