Economy and commerce
Vietnam devalues dong by 1%
Vietnam on 18 August devalued its currency by 1% following the devaluation of the Chinese yuan and a possible US interest rate increase. Keep reading ...
ASEAN's real GDP grows 4.6pc in 2014
ASEAN’s real Gross Domestic Product grew 4.6 per cent to reach US$2.57 trillion in 2014. The sustained growth in GDP led to an increase in the GDP per capita from US$3,908 in 2013 to US$4,130 in 2014, ASEAN Secretariat said in a statement. Keep reading ...
ASEAN puts last touches to economic community
With most of the high-priority measures in the ASEAN Economic Community (AEC) blueprint already adopted, policymakers and businesses need to work closely on the remaining challenges to achieve benefits of full economic integration beyond 2015, a new report recommends. The report from Ernst & Young, titled ...
Myanmar's central bank talks up stability amid economic challenges
The Central Bank of Myanmar pledged 18 August to assist private banks that may run into financial difficulties, looking to address recent speculation that some financial institutions were heading for a crash due in part to the recent depreciation of the kyat. Central Bank officials held a ...
Cambodia's garment exports up 9% in first half of 2015
The garment industry, Cambodia’s largest foreign currency earner, has seen a 9% rise in exports in the first six months of 2015, according to the Chinese State’s News Agency-Xinhua. Keep reading ...
23 nations issue Thailand travel advisories
Twenty-three countries by 18 August had issued travel advisories in the wake of the 17 August Erawan shrine bombing, with most advising caution rather than avoiding travel to Thailand. Keep reading ...
S&P: Thailand's ratings unchanged after Bangkok bomb
Standard & Poor’s Ratings Services sees limited immediate impact on the sovereign credit support for Thailand in the wake of the 17 August bombing at Bangkok’s popular Erawan Shrine that killed 20 people and injured another 125. Keep reading ...
UnionPay signs chip card standard license with Thailand
UnionPay International and Thai Bankers Association signed Chip Card Standard License Agreement in Bangkok on 18 August. According to the agreement, the chip card standard of UnionPay will be introduced to local banks as the standard of Thailand’s banking industry. Thailand has become the first overseas ...
Bank of Thailand: Slower growth a regional ill
The Bank of Thailand insists that despite shocks and changes experienced in the macroeconomic environment, the country’s fundamentals remain strong, as reflected in the country’s current account surplus, stable foreign exchange rate and low unemployment. Central bank governor Prasarn Trairatvorakul on 17 August said speeding up infrastructure investment ...
Importers hedging against baht slump
Local small and medium-sized importers are in a rush to hedge their currency exposure to protect against the rapid weakening of the baht, says TMB Bank. The number of SME customers hedging against foreign exchange risk has increased by 20-30% since the baht began depreciating after ...
