MANILA, Philippines — The Asian Development Bank on Wednesday slashed its growth outlook on the Philippine economy as the delayed passage of the 2019 budget crimped state spending in the first semester and as headwinds threaten the global economy. In an update of its Asian Development Outlook report, the Manila-based multilateral lender downwardly revised its […]
Read MoreKUALA LUMPUR: Higher food prices pushed the Consumer Price Index (CPI) in Kuala Lumpur, Penang, Selangor and Putrajaya and Perak above the national inflation rate in August, according to the Statistics Department. In a statement issued on Wednesday, it said KL registered a 2.4% increase in the CPI, Penang (2%), Selangor and Putrajaya (1.8%) and […]
Read MoreThe Deposit Insurance Corporation (LPS) announced on Tuesday a cut in its guaranteed interest rates for both rupiah and foreign currency-denominated savings and deposits following a cut in Bank Indonesia’s benchmark rate last week. LPS lowered the guaranteed rate for rupiah savings and deposits in commercial banks by 25 basis points (bps) to 6.5 percent, […]
Read MoreMANILA, Philippines — Monetary authorities are expected to cut interest rates first before further lowering the level of deposits banks are required to keep with the Bangko Sentral ng Pilipinas (BSP). BSP Governor Benjamin Diokno told reporters on the sidelines of the Philippines Investment Forum organized by Euromoney that the additional reduction to the reserve […]
Read MoreThe cabinet on Tuesday approved a public debt management plan for fiscal 2020 that calls for the country’s average ratio of public debt to GDP to have a ceiling of 42.76%, below the 60% set by the Finance Ministry’s fiscal sustainability framework. Public debt amounted to 6.9 trillion baht at the end of July this […]
Read More[KUALA LUMPUR] Malaysia is advancing an anti-monopoly investigation into Singapore-based Grab Holdings Inc, ramping up a broader government push to bring greater competition to its economy. Malaysia Competition Commission chief executive officer Iskandar Ismail said last Thursday the anti-monopoly watchdog was stepping up the probe into the ride-hailing startup, which was first announced last year […]
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Thailand
