The Bank of Thailand has coordinated with the Finance Ministry on probing a commercial bank that reportedly helps customers avoid paying the compulsory 15% withholding tax deducted from deposit interest income. “The Bank of Thailand acknowledges such undesirable behaviour was committed by a commercial bank and is looking into the incident to see if it […]
Read MoreASEAN countries, with their enormous demand for infrastructure investments, should capitalise on China’s Belt and Road Initiative (BRI), business leaders from the ASEAN region urged. But there is a necessity to align the BRI with the ASEAN blueprint, and ASEAN needs to iron out the problems derived from the tension between Japan’s involvement in ASEAN […]
Read MoreMANILA, Philippines — The Philippines needs a strong fiscal performance to keep the pace of the country’s economic expansion similar to that in the second quarter, according to Dutch financial giant ING Bank. “A strong fiscal performance is needed to keep gross domestic product growth at around 6.5 percent in the third quarter,” ING Bank […]
Read MoreCambodia is to take advantage of the Chengdu Initiative on Tourism Cooperation under the Belt and Road Initiative (BRI) as it can help promote sustainable tourism. The initiative was approved by the World Tourism Organisation of the United Nations (UNWTO) during the body’s 22nd General Assembly in Chengdu, China. The Chengdu Initiative for Belt and […]
Read MoreMANILA (REUTERS) – Developing Asia is on track to grow faster this year and next, the Asian Development Bank said on Tuesday (Sept 26), buoyed by a pick-up in world trade and China’s expansion, but it flagged risks from tightening US monetary policy. Developing Asia is expected to grow by 5.9 and 5.8 per cent […]
Read MoreSINGAPORE – The brightest spot in the Singapore economy continued shining last month as surging global demand for electronics once again helped lift factory output in August. Manufacturing output increased 19.1 per cent year-on-year in August, beating economists’ expectations of a 16 per cent increase and following from a 21 per cent surge in July. […]
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