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Singapore, China ink MOU to help businesses resolve disputes under Belt and Road Initiative

THE Singapore International Mediation Centre (SIMC) and the Mediation Center of the China Council for the Promotion of International Trade/China Chamber of International Commerce (CCPIT/CCOIC Mediation Center) on Tuesday signed a Memorandum of Understanding (MOU) to support businesses and provide assistance to them to resolve disputes that may arise in cross-border commercial transactions under China’s […]

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Philippines: Government borrows 56% more in 7 months

MANILA, Philippines — The national government borrowed P519.97 billion from both domestic and foreign lenders in the first seven months, a sharp 55.7 percent from P334.03 billion in the same period last year, data from the Bureau of the Treasury (BTr) showed. For July, however, the government’s gross borrowings declined 52.4 percent to P14.21 billion […]

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Thailand: Foreign tourist arrivals hit 3.13m in Aug

A total of 3.13 million international tourists visited the country in August, an 8.66% increase from the same month last year, said Pongpanu Svetarundra, Permanent Secretary of Ministry of Tourism and Sports. Most visitors came from East Asia, Europe, South Asia, the Middle East, the Americas, Oceania and Africa – in that order – with […]

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Malaysia: Taxing the digital economy

KUALA LUMPUR: The Royal Malaysian Customs Department plans to amend the goods and services tax (GST) Act to enable the Government to collect taxes from foreign companies operating in Malaysia under the digital economy. According to Customs Department director-general Datuk Seri Subromaniam Tholasy, the amendments will allow the Government to tap a segment that is […]

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Vietnam aims to narrow trade deficit with Thailand

HANOI – Improving the quality of domestically-produced goods is critical for Vietnam to compete with imported products and narrow the trade deficit with Thailand, according to the Ministry of Industry and Trade (MoIT). Statistics from the ministry’s Department of Asia and Africa Markets showed that Vietnam ran a trade deficit of US$3.5 billion with Thailand […]

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