Marcos thanks Singapore OFWs: We’ll improve Philippines in return
He noted Singapore was the second-highest source of overseas Filipino workers remittances in 2021, generating around $2.2 billion.
ECONOMIC AFFAIRS
Rupee has held its own despite sharp depreciation in other currencies: RBI governor
He further indicated that the central bank’s monetary policy, going forward, will be “watchful, nimble-footed and calibrated”.
4 of 5 chip experts say Korea faces ‘worst crisis’ in decade
Combined with industrywide risks, the increasing competition posed by Chinese entities is stoking fears of a downturn that could last more than two years.
End of Covid-19 aid draws disbelief Philippine economy has recovered
Finance Secretary Benjamin Diokno also said said that the economy has already recovered and is now back to where it was before the pandemic.
China’s services sector continues to recover
A senior economist said the economy is slowly recovering from a widespread outbreak of Covid-19 in the first half of the year, though it remains under pressure.
Johor F&B businesses recovering and looking to expand
A food and beverage operator said there was a significant increase in customer volume when the Malaysian borders reopened in April.
Indonesia hikes fuel prices to rein in ballooning subsidies
President Joko "Jokowi" Widodo said the decision to adjust fuel prices was a difficult one and was his "last option".
Indonesia’s farmers yet to benefit from crude palm oil levy waiver
Previously, the government had announced a slashing of export levies for all palm oil derivative products until Aug 31 to boost exports and ease high domestic inventories.
Sri Lanka crisis would deepen if creditors disagree, IMF says amid China concerns
All creditors, including China, have to agree to restructure their existing loans to the island nation before the IMF starts disbursing a US$2.9 billion loan.
With the heavy rain comes issues for Malaysia’s farmers
According to farmers, the continuous and heavy rains, as well as the steep increase in production costs, have significantly impacted the yields of fruits and vegetables.