Nearly a third of Philippines’ P5.3 trillion budget used to pay for debts
Despite the huge repayment, the government’s outstanding debt will still jump to a new high of P14.63 trillion by end 2023.
ECONOMIC AFFAIRS
China’s rate cuts set to boost economic recovery: Experts
China's over-five-year loan prime rate dropped to 4.3 per cent in August, marking the lowest level since the rate debuted in Aug 2019.
Hong Kong economy moves forward despite inflation: Financial secretary
The local unemployment rate from May to July dropped 1.1 percentage points compared with the level from February to April, while the underemployment rate fell 1.6 percentage…
Pakistan PM Shehbaz seeks urgent report on inflated electricity bills
The development comes after scores of people in several parts of the country took to the streets in protest against inflated power bills of both domestic and industrial…
Are eco-friendly bricks the future of Indonesia’s building material?
Eco-friendly building materials can be a solution to minimise plastic waste, but challenges, including costly production, remain.
Pakistan government lifts ban on import of luxury items
At the same time, the government will also impose heavy regulatory duties on these items, with duties for some sectors going up to 400 to 600 per cent.
Indonesia government prepares for ‘turmoil’ with prudent 2023 budget
The government projects 2023 GDP growth of 5.3 per cent, a tad higher than this year’s expected 5.2 per cent, and inflation is predicted to fall to 3.3 percent.
Bakers’ turn: Price hike on bread prices sought to cover ingredient prices
The last time bread prices were adjusted was in Feb 2022, after local bread manufacturers grappled with the rising cost of flour, which had increased by nearly 45 per cent.
Malaysian government channels RM20.94 billion for wage subsidy programme
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the effort was aimed at reducing the unemployment rate among Malaysian workers.
Indonesia’s inflation may exceed 4% next year, upping pressure on govt
The central bank estimates that, for next year, there is a possibility that inflation may go sideways again, just like in 2022.