ASEAN News

August 10, 2021

Thailand: Digital transformation study reveals surprising trends

Financial services, life sciences and healthcare businesses have reportedly transitioned towards digitalisation much sooner than expected as the pandemic drove more economic activities online, according to the Thailand Digital Transformation Survey 2021. Meanwhile, consumer businesses that had been leaders in technology adoption before the pandemic reportedly integrated digital technology into their businesses much later than […]

August 10, 2021

Indonesian gov’t bets on Q4 growth to even out possible Q3 losses

The Indonesian government is banking on fourth-quarter gross domestic product (GDP) growth to reach its annual target as an unprecedented Covid-19 wave promises to dampen the third-quarter economic recovery. Coordinating Minister for Economic Affairs Airlangga Hartarto told reporters that the government would focus its resources on containing the second virus wave in the third quarter […]

August 10, 2021

Thailand: Amid weak sentiment, baht seen sliding towards 34 to the dollar

The baht opened at 33.46 to the US dollar on Tuesday, its lowest in three years, weakening from Monday’s closing rate of 33.41. The Thai currency was likely to move between 33.40 and 33.55 during the day, Krungthai Bank market strategist Poon Panichpibool said. He said the baht might weaken further if importers accumulated dollars […]

August 10, 2021

Philippines: BSP sets deadline for 2022 foreign borrowings plan

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is reminding government and private entities to submit their planned foreign borrowings for next year not later than Sept. 30. The central bank conducts an annual survey to get an indication of the magnitude and timing of the economy’s financing requirements for the following year, as […]

August 10, 2021

Thailand: Deposit protection slashed from THB5 million to THB1 million

The Deposit Protection Agency (DPA) will cut back protection from THB5 million to THB1 million per depositor from Wednesday, the Bank of Thailand (BOT) said on Monday. The move aims to reduce inequality and make room for the government to allocate budget for economic activities, BOT deputy governor Ronadol Numnonda said. Ronadol confirmed that financial […]

August 10, 2021

Philippine economy grows at fastest pace since 1988, but Covid clouds outlook

MANILA: The Philippine economy exited a pandemic-induced recession with its fastest year-on-year growth in over three decades, but tighter Covid-19 curbs could hamper the recovery and boost expectations monetary policy will remain accommodative for the rest of 2021. Gross domestic product (GDP) rose 11.8% in the June quarter from a Covid-driven slump a year earlier, […]

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