Workers laid off during pandemic return to Mactan hotels, resorts
President of the Hotel, Resort and Restaurant Association of Cebu said hotels and resorts are now on their way to full recovery, two years since the pandemic hit the industry.
Big Picture
Indonesia urgently needs to boost oil, gas investment amid ambitious 2030 targets
The country aims to boost its oil and gas production to 1 million barrels of oil per day and 12 billion standard cubic feet per day of gas in an effort to reduce imports.
Finance chief upbeat over Hong Kong’s financial centre role
With the internationalisation of the renminbi, Hong Kong will play an even bigger role as an offshore renminbi business hub, Paul Chan Mo-po said.
World Bank revises upward Malaysia’s 2022 GDP growth forecast to 6.4%
Data showed that the economy had expanded above expectations in the first half of the year, driven by better domestic consumption and robust export growth.
Governments dangle carrots to woo global talent
Across the world, countries have been overhauling their immigration programmes and offering a range of incentives to would-be migrants.
Renminbi’s global use set to expand
Experts said the rising global profile of the renminbi can contribute to the world's shift to a multipolar currency system that is less dependent on the greenback.
Hong Kong ranked fourth among global financial centres
Despite the fall in the latest ranking, the city increased its score from the previous ranking by 10 points to 725 points, just one point lower than Singapore.
Shenzhen aims to be fintech hub
A draft plan from the government stated Shenzhen will build five industrial parks and office clusters oriented toward fintech development.
‘Hong Kong should offer more incentives to attract, retain talents’: PricewaterhouseCoopers
The accounting and consulting firm PwC noted that the rising tide of uncertainties in the global economy, coupled with internal constraints, have sapped its economic growth.
Japan’s consumer spending hit hard by emergency
According to reports, consumer spending was weak during the first quarter of the year due to the impact state of emergency declared in January.