During US-ASEAN Special Summit, the US pledged US$150 million to tackle several key topics ranging from maritime security to pandemic preparedness to clean energy. Despite hitting the right notes, the summit lacked the concrete trade and investment commitments that ASEAN members were seeking. Access to the prized US market for ASEAN will be vital if Washington wants to balance … [Read more...] about Why Does the US-ASEAN Special Summit Lack Substantial Value?
2022
Thailand has no need to follow Fed’s tightening, says central bank chief
BANGKOK, May 19 (Reuters): Thailand has no need to raise interest rates following the Federal Reserve's hikes in US rates as domestic factors and the economic recovery will be the main issues determining policy, the central bank chief said on Thursday. The country's external position remains strong with low foreign debt and high international reserves, Bank of Thailand … [Read more...] about Thailand has no need to follow Fed’s tightening, says central bank chief
Philippine central bank raises interest rates to curb inflation
MANILA, May 19, 2022 (AFP): The Philippine central bank raised interest rates Thursday for the first time in more than three years, in a bid to curb inflation as rising fuel prices and food shortages push up living costs. Robust economic growth and jobs in the first quarter gave the monetary authority room to continue "rolling back its pandemic-induced interventions", said … [Read more...] about Philippine central bank raises interest rates to curb inflation
Dayang returns to the black in Q1
KUALA LUMPUR: Dayang Enterprise Holdings Bhd has returned to the black with a net profit of RM13.76mil in the first quarter ended March 31 (1Q) against a net loss of RM27.54mil a year ago. It recorded a pre-tax profit during the current quarter as a result of insurance claims received from the incident of Dayang Topaz of RM3.6mil, net realised/unrealised gain in foreign … [Read more...] about Dayang returns to the black in Q1
Kobay Q2 net profit surges
PETALING JAYA: Kobay Technology Bhd posted a net profit of RM14.52mil in the second quarter ended Dec 31, 2021, more than double from RM5.95mil a year ago, thanks to strong orders from the semiconductor and electrical and electronics (E&E) industries. In a filing with Bursa Malaysia yesterday, the group said its revenue for the quarter almost tripled to RM92.83mil … [Read more...] about Kobay Q2 net profit surges