Economy and commerce
Banking and financial services
China launches new AIIB development bank as power balance shifts
Chinese President Xi Jinping launched a new international development bank seen as a rival to the U.S.-led World Bank at a lavish ceremony on 17 January, as Beijing seeks to change the unwritten rules of global development finance. Despite opposition from Washington, U.S. allies including Australia, ...
Banks to issue more loans despite lower rates
Despite the fact that the Bank of the Laos recently declared a lower interest rate for deposits and loans, many banks in Laos believe the number of depositors and borrowers will not decrease in the years to come. ACLEDA Bank Lao Ltd. is one of several ...
Board of Investment falls far short of 2015 investment target
Thailand’s Board of Investment said on 12 January it approved applications worth about 800 billion baht last year, missing its target of 1.4 trillion baht, but up from 724.7 billion baht in 2014. The investment agency did not meet its target in 2015 as some applications were submitted ...
Vietnam weakens dong fixing as it adopts market-based rate
The State Bank of Vietnam reduced the dong’s reference rate for the first time since August, after saying over the weekend that it is moving to a more market-based methodology in setting a daily reference rate versus the dollar. It lowered the fixing by 0.03 percent ...
Bank of Thailand lifts growth forecast for 2015, but trims 2016 estimate
The Bank of Thailand trimmed its 2016 economic growth forecast on Friday, reflecting expectations of zero export growth and suggesting the military government will continue to struggle with a sluggish economy. At the same time, the central bank nudged its growth estimate for this year up ...
China announces formal creation of Asian infrastructure bank
The China-backed Asian Infrastructure Investment Bank has been formally established and is expected to be operational early next year, and its head reaffirmed the lender will be “lean, clean and green”, Xinhua news agency said on 25 December. The setting up of the bank came after ...
Thai banks inefficient, says S&P
Academics have slammed the military’s iron grip on cyberspace following the 2014 coup. Surveillance and crackdown measures are creating a climate of fear and self-censorship, they argued. Since last year’s coup, the army has taken many steps to tackle content deemed sensitive or critical of the ...
Vietnam's credit growth quickens to 18 pct in 2015: central bank
Vietnam’s annual credit growth this year is expected to quicken to 18 percent, beating a previous government target of 17 percent, the State Bank of Vietnam said on 24 December. Keep reading ...
Laos issues first US$ notes in Thailand
Laos’ Finance Ministry has issued its first US dollar-denominated floating-rate notes in Thailand, worth $182 million (about Bt6.5 billion).The dual-tranche issuance was rated “BBB+” by Tris Rating on December 9. The maturities are 10 and 12 years and the coupons are six-month Libor (London Interbank ...
Devaluation risk rises in Vietnam
Vietnam’s dong fell toward the brink of its permitted trading range as a ban on interest payments on US dollar deposits held onshore failed to cool speculation the currency is poised for its fourth devaluation in a year. The State Bank of Vietnam cut the dollar ...
