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Indonesia: Saving small businesses

Indonesian small businesses, which have shown resilience during previous economic downturns, have borne the brunt of the impact of the Covid-19 pandemic and are now looking for ways to revive their fortunes. The majority of micro, small and medium enterprises (MSMEs) have experienced a steep decline in profit margins despite a significant shift to online […]

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Indonesia virus-hit economy posts first yearly contraction since 1998

JAKARTA (AFP) – Indonesia yesterday logged its first annual contraction since the 1998 Asian financial crisis, as the coronavirus pandemic slammed Southeast Asia’s biggest economy. The country’s gross domestic product fell 2.07 per cent in 2020 from a year earlier, the statistics agency said, with household spending, transportation and tourism among the hardest-hit sectors. Yesterday’s […]

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Cambodia: Container shipping sector navigates COVID pandemic

AFP – Maritime container freight shipping is steaming ahead through the COVID-19 pandemic, boosted by strong demand for Chinese exports and a shortage of vessels according to industry experts. The Freightos Baltic Global Container Index (FBX), which tracks the cost of container shipping, has almost quadrupled for the China-Europe route since early November to stand at […]

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Philippines: BSP seen keeping rates low

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may keep the benchmark interest rate at an all-time low of two percent on Thursday despite the breach of its two to four percent inflation target in January, according to economists. ING Bank senior economist Nicholas Mapa said the Monetary Board is likely to keep its […]

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Thailand: Spa group asks for salary aid

Some 80% of spa businesses nationwide have closed, prompting the Thai Spa Association to call for urgent relief aid from the government, especially in the form of a salary co-payment scheme. Spas are slowly reopening, following a relaxation of lockdowns in many provinces, but the domestic market cannot completely revive the business, which relies heavily […]

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