BANGKOK: Thailand’s government plans new borrowing of about 820 billion baht (US$21.64 billion) in the 2023 fiscal year starting Oct 1, mainly to finance a budget deficit, the finance ministry said on Tuesday (Sep 27), as it tries to bolster economic recovery. The borrowing is part of a wider debtContinue Reading
HANOI: Vietnam’s finance ministry on Friday (Sep 23) said it is proposing to the legislature cutting the special consumption tax and value-added tax on fuels to keep inflation under 4 per cent this year. The move will follow this week’s decision by the central bank to raise policy rates andContinue Reading
HONG KONG: Cathay Pacific Airways on Friday (Sep 23) said it plans to add more than 200 pairs of passenger flights in October to both regional and long-haul destinations. The announcement came after Hong Kong government said to scrap its controversial COVID-19 hotel quarantine policy for all arrivals from SepContinue Reading
SEOUL: Southern Korea’s central financial institution said on Friday (Sep 23) it had been setting up a currency exchange arrangement with the National Pension Service to divert some of the fund’s foreign currency needs, within a bid to put the floor under the rapidly weakening won. The Bank of KoreaContinue Reading
The particular dollar, which has increased to multi-decade highs against its major peers as well as growing currencies, held its strength. Traders are maintaining a close eye upon developments following the Japanese finance ministry’s involvement to support the yen , after it hit a new 24-year low of 146 againstContinue Reading
JAKARTA: Indonesia’s main bank hiked the key interest rate for your second month within a row Thursday (Sep 22) to combat rising inflation stoked by fuel prices and the war within Ukraine. Bank Indonesia forced the policy rate to 4. twenty five from 3. 75 per cent, and the jumpContinue Reading
JAKARTA: Indonesia’s central bank offers reinstated rules to sanction natural resources exporters that do not receive their earnings through domestic banks, deputy governor Juda Agung said upon Thursday (Sep 22). Indonesia in 2019 issued rules requiring organic resource exporters to put their earnings in the domestic banking system, with theContinue Reading
HONG KONG: The Hong Kong Monetary Authority (HKMA) on Thursday (Sep 22) raised its base rate charged with the overnight discount windows by 75 base points to 3 or more. 5%, hours after the ALL OF US Federal Reserve delivered a rate hike of the same margin . HongContinue Reading
HONG KONG: The Hong Kong Budgetary Authority (HKMA) by Thursday (Sep 22) raised its lauge rate charged out of your overnight discount time frame by 75 e-mail points to 3. five per cent, hours after the US Federalista Reserve delivered a rate hike of the same margin . HSBCContinue Reading
Fed officials have for months stuck to the mantra that they will only ease up on their hawkish drive when inflation comes down and remains subdued. This has led many to warn that rates are unlikely to come down anytime soon, possibly as late as 2024, with a recession moreContinue Reading