SINGAPORE – Together, 7 industry led organizations have formed agreements to build and implement ideas to support Singapore since it aims to steer the economy out of the COVID-19 emergency, including propelling independent road transport and having consistent shopping meetings to assist the retail sector.In June, the seven led organizations, dubbed the Singapore Together Partnerships for Action, were set up …

The Philippine economy shrank more than what was expected annually in the third quarter due to the COVID-19 pandemic, based on the official data showed last Tuesday. This fallout eased after the government gradually lifted coronavirus restrictions. The country’s economy fell into its first recession in nearly 30 years in the April-June period, when the Philippines imposed one of the …

KUALA LUMPUR – Malaysian Prime Minister Muhyiddin Yassin said on Wednesday that the government will embark on an expansionary budget to ensure people’s prosperity and economic revival amid the Covid-19 pandemic. During a television interview, Prime Minister Muhyiddin said that the first focus of budget 2021 will be to fight Covid-19 in the health aspect, therefore it is important that …

The Bank of Thailand leader, a growing under-employment rate led by the Covid-19 crisis would further aggravate the country’s swelling household debt and the debt-servicing woes of borrowers. Although the coronavirus outbreak has not significantly impacted the unemployment rate, the pandemic has caused an increase in underemployment due to a decrease in working hours, said Governor Sethaput Suthiwartnarueput, due to …

In order to fire up demand and fight the worst economic downturn caused by the coronavirus pandemic, Thailand will expand tax incentives to millions of its middle and upper income classes. The concession would allow around 3.7 million taxpayers, Deputy Prime Minister Supattanapong Punmeechaow told reporters in Bangkok on Wednesday (Oct 7), to subtract 30,000 baht (S$1,306.15) each from their …

In order to create a sovereign wealth fund to attract investment and boost the economy, the Indonesian government is planning 75 trillion rupiah (S$6.8 billion) in cash. Global heavyweights have shown interest in joining the United States and the United Arab Emirates. The creation of a sovereign fund, to be known as the Investment Authority of Indonesia, is part of …

President Joko ‘Jokowi’ Widodo said that the Indonesian nation and other nations were facing a very tough trial. Millions of people around the world exposed to COVID-19. Jokowi also said world economic growth had slowed down due to the COVID-19 pandemic and the economic growth of the number of large countries had decreased significantly since the outbreak. “The Parmusi Congress …

Ai Khai ‘s miraculous power has worked magic for this southern province ‘s economy battered by prolonged Covid-19 crisis. While most other parts of Thailand are still in the economic doldrums, tourists flock into this province hoping to be blessed with the boy monk’s gold-plated statue. For weeks, flights into the province and hotels were overbooked. Last weekend’s long weekend …

METRO MANILA – Department of Labor and Employment (DOLE) said on Wednesday, that around 700,000 overseas Filipino workers (OFWs) may lose their job due to the impact of the Covid-19 pandemic worldwide. Labor Assistant Secretary Dominique Rubia-Tutay said in a briefing with the economic team, the immediate and long term effect of the Covid-19 pandemic continues to unfold and becoming …

METRO MANILA – The number of unemployed Filipinos of drops nationwide last July after lockdown eases and the economy slowly reopens amid the coronavirus pandemic. According to the data released by the Philippine Statistics Authority (PSA), The jobless rate in July was recorded at 10%, and major improvement from the 17.7% recorded in the longest and most strictest quarantine lockdown …