Economy

According to the statement made by the country’s Minister of Finance on Tuesday, it is anticipated that the economy of Thailand will rise by more than 4%, which will be helped along by a resurgence in the country’s significant tourist sector following an easing of pandemic restrictions. According to Minister Arkhom Termpittayapaisith’s statement to the press, Thailand’s ratio of public …

The head of the Philippine Central Bank has stated that there will not be another off-cycle interest rate adjustment. The head of the Philippine Central Bank stated on Tuesday that there would not be another off-cycle move on monetary policy tightening. At the same time, he indicated that there would be a rate hike of less than 75 basis points …

Amidst negotiations for an emergency US$4 billion package to assist it to emerge from an economic collapse, Sri Lanka has urged China for support with trade, investment, and tourism to help it expand sustainably, Colombo’s envoy to Beijing said on Monday, July 25th. Having depleted its foreign reserves, the island nation of 22 million people is experiencing its biggest economic …

Udenna Corporation, a Philippine conglomerate owned by a close associate of the country’s previous president, announced on Monday that a subsidiary of the company had paid a debt to prevent a default on other loans. This helped shares in related companies recover from huge losses that had occurred earlier. Udenna, one of the most rapidly expanding enterprises in the country, …

The Malaysian minister of commodities predicted on Monday, July 25th, that prices for crude palm oil would remain low for the majority of the third quarter of this year. His comments came shortly after a competing producer, Indonesia, eliminated its export levy. “This is inevitable in light of stiffer competition from Indonesia – the world’s largest palm oil producer – …

Due to the rising cost of imported edible oil and the impact that the conflict in Ukraine has had on wheat prices, many bakeries in the Philippines are reducing the size of a popular breakfast bun in order to make ends meet in the face of greater inflation. At Matimyas Bakery, a breadmaker in the suburbs of Manila, the somewhat …

CHINA — According to government data released on Monday (Jul 18), China’s aluminum imports decreased 36.3% in June from the same month a year earlier, as domestic output increased and demand remained weak. According to data from the General Administration of Customs, the country imported 187,362 metric tons of unwrought aluminum and its products, including raw metal and unwrought, alloyed …

SRI LANKA: As he departed the country to avoid a popular uprising against his government, Sri Lanka’s ousted president declared he took “all conceivable means” to avert the island nation’s economic disaster. A vote in Parliament on Friday approved the resignation of Gotabhaye Rajapakse from office (Jul 15). After hundreds of thousands of anti-government protestors descended on Colombo a week …

CHINA: After months of brutal Covid lockdowns, China’s economy had its worst quarterly performance in more than two years. The world’s second-largest economy’s gross domestic product grew by just 0.4% in the three months ending June 30 this year compared to the same period last year, according to NBS data released on Friday. Reuters polled economists had predicted a 1% …

PHILIPPINES: Following an off-the-scheduled 75 basis point rate hike to battle inflation, the Philippine central bank’s governor indicated on Friday that it “may or may not” boost interest rates at its policy meeting in August. Bangko Sentral ng Pilipinas Governor Felipe Medalla indicated in a phone message that the bank will be “data reliant.” The central bank, however, will remain …