Banking sector

Thailand- Leading financial analysis firm and bank Kasikorn Research Center, also known as K-research, cut their estimate for tourism revenue for Thailand from 267 billion baht for the first half of 2021 to 137 billion baht earlier this week. K-research was basing their major cut, which covers the first half of this year, due to both an outbreak of Covid-19 in January and a current outbreak of Covid-19 that saw well over a thousand cases today, April 14th, 2021 . The cut is primarily based around domestic tourism although K-research believes that if the current round of infections is not brought under control either through vaccines, test, and trace, or restrictive measures that foreign tourism, which has largely been shut down for a year due to mandatory quarantine, will also be affected. Thailand was previously planning to start cautiously opening up tourism without quarantine later this year to selected tourists. K-research stated that they support procurement of ... » Learn More about Top financial analyst cuts Thailand tourism revenue estimate for first half of 2021 by 130 billion baht

MANILA, Philippines — More than 162,000 individuals have been fully vaccinated or received two doses of the COVID-19 vaccine, the Department of Health (DOH) and the National Task Force against COVID-19 (NTF) reported Wednesday. Data from the DOH and the NTF showed 162,065 Filipinos have been given their second doses of the COVID-19 vaccine. More than 162,000 individuals have been fully vaccinated against COVID-19, data from the DOH and NTF COVID-19 shows @inquirerdotnet pic.twitter.com/Vtr77w4cex — Krissy Aguilar (@KAguilarINQ) April 14, 2021 Meanwhile, some 1,093,651 Filipinos have been inoculated with the vaccine’s first dose. The government has recently started simultaneously vaccinating health workers, senior citizens and persons with comorbidities. With the arrival of 500,000 procured CoronaVac developed by China’s Sinovac, the DOH and NTF said the country already has more than three million doses of vaccines. Of this figure, 2.8 million doses were ... » Learn More about Over 162,000 Filipinos fully vaccinated vs COVID-19

BEIJING — China’s imports and exports boomed again in March, data showed Tuesday, reaffirming the recovery in the world’s number-two economy continues apace and demand picks up in key overseas markets as they emerge from last year’s virus crisis. The readings highlight the impact of vaccines and the easing of containment measures are having, with expectations for further improvement over the next few months. Imports soared a forecast-busting 38.1 percent on-year as the country’s army of consumers increasingly returned to some form of normality after last year’s crisis forced businesses to shut and people to stay at home. The figure was a huge increase from the 22.2 percent rise seen in January-February and the biggest hike since February 2017. Exports rose 30.6 percent, well off the 38 percent increase tipped in a Bloomberg forecast but still among the highest readings since early 2018. Overseas shipments jumped more than 60 percent in January-February. The outsized increases ... » Learn More about China’s imports pick up further, exports strong in March

MANILA, Philippines—The $1.2 billion in loans secured by the Philippines from multilateral institutions to buy vaccines have inflated total borrowings and grants for COVID-19 response to $15.49 billion, or more than P750 billion to date, the Department of Finance (DOF) said. The updated list of financing that the DOF obtained to boost the Philippines’ COVID-19 war chest as of April 8 included loans amounting to $500 million from the Washington-based World Bank, $400 million from the Manila-based Asian Development Bank (ADB) and $300 million from the Beijing-based Asian Infrastructure Investment Bank (AIIB). All three new loans were signed by Finance Secretary Carlos Dominguez III on behalf of the Philippine government last March. Equivalent to over P58 billion, these three loans accounted for bulk of the P70 billion in unprogrammed appropriations for the mass vaccination program, which had been set aside in the P4.51-trillion 2021 national budget. Last month, Finance ... » Learn More about DOF: Over P752B in loans, grants secured to fight COVID-19

MANILA, Philippines—President Rodrigo Duterte has urged Congress, especially the Senate, to fast-track three bills which will further open up the economy to more foreign investors and, according to his economic managers, help the economy recover from pandemic-induced recession. In an April 12 letter to Senate President Vicente Sotto III, the President said he certified the immediate passage of amendments to the Public Service Act, the Foreign Investments Act, as well as the Retail Trade Liberalization Act. Amendments to the antiquated public service and foreign investment laws would allow greater foreign participation in sectors that had been restricted only to Filipino investors. The proposed amendment to the Retail Trade law seeks to bring down the ceiling for capital required of foreign-led retailers for setting up shop in the Philippines. Speaker Lord Allan Jay Velasco was also furnished the letter, a printed copy of which was sent by Finance Secretary Carlos Dominguez to ... » Learn More about Duterte asks Congress to give priority to new laws removing barriers to foreign investments

SINGAPORE - Siblings Nathan and Phoebe Foong have been waking up for school, where they stand to attention for the National Anthem during assembly, before heading to the canteen. The catch? They are actually at home. Their parents, Elvin and Esther Foong, devised "Naph School", an amalgam of the first two letters of the children's names, after the family were asked to self-isolate under a leave of absence (LOA) request. The family's LOA was issued after their trip to visit Mrs Foong's father in Johor during the recent March school holidays. Nathan, nine, and Phoebe, seven, will return to school on April 2 . According to the Education Ministry, less than 10 per cent of students and staff across all schools are on LOA or stay-home notice (SHN), which aim to prevent the spread of Covid-19. They are both 14-day self-isolation measures, typically following overseas travel. Some families with young children are concerned about supporting their offspring's learning away from ... » Learn More about Staying at home during Covid-19 outbreak: How to plan activities with your kids, and take ‘sanity breaks’

MELAKA: The role of the Tamil and Sikh communities in Melaka should be remembered as both mark auspicious celebrations this week, says the Melaka Chief Minister. Datuk Seri Sulaiman Md Ali said the vast contributions of Tamil and Sikhs in the history of Melaka will not be forgotten. "The Tamils had played a crucial role since the days of the Melaka Sultanate, and later as a catalyst for bygone Melaka railways, plantations, as well as medical and education fields. "The Sikhs contributed vastly in the field of security and national defence, as well as the medical sector," he said in his Tamil New Year and Vaisakhi wishes on Wednesday (April 14). Tamil Malaysians are celebrating the first day of the Tamil new year (Puthuvarudam), while the local Sikh community celebrate Vaisakhi to mark the birth of the Khalsa order in 1699 by the 10th master guru, Gobind Singh Ji, on Wednesday. Sulaiman said his administration will continue to expand opportunities for all communities in the ... » Learn More about Tamil, Sikh communities’ contribution to Melaka will not be forgotten, says CM

KUALA LUMPUR: Teladan Setia Group Bhd is buying 520 acres of land in Jasin, Melaka for RM95.1mil, increasing its total landbank 738.9 acres. The property firm said it is planning to developed landed residential properties priced between RM200,000 to RM400,000 each in Jasin. "Based on our recent market studies, we believe that landed homes remain the property of choice among the local Melaka population for the foreseeable future,” Managing Director Richard Teo Lay Ban said in a statement today. On Wednesday, Teladan Setia' wholly owned Asal Harta Sdn Bhd has entered into a conditional sale and purchase agreement (SPA) with Eramaju Tegas Sdn Bhd for the proposed acquisition of three parcels of land in Jasin in Melaka with an aggregate land size of 519.8 acres for a total consideration of RM95.1mil. Teleadan Setia said the purchase will be settled by a combination of cash and bank borrowings. ... » Learn More about Teladan Setia expands landbank in Melaka

ROME (Reuters) - Italian Prime Minister Mario Draghi said on Thursday vaccines should for now on only be given to the elderly and appealed to regional governments and individuals not to flout his guidelines. Unlike many other European countries, when Italy launched its vaccination campaign at the end of December, its army of pensioners were not given automatic precedence, despite the fact that they have borne the brunt of the killer disease. The failure to provide swifter protection has cost thousands of lives, experts say. "Stop vaccinating people who are under 60, stop vaccinating young people," Draghi told a news conference, raising his voice in an impassioned plea. Under Italy's constitution it is the country's 20 regions which have the final say on who gets vaccinated, and many have allowed professional groups such as magistrates and journalists to get a jab before people over the age of 70. "With what conscience does someone jump the queue, knowing that he or she is ... » Learn More about Italy PM Draghi appeals for elderly to get vaccine priority

During the nationwide closure of temples and festivities during the Songkran holiday this week, some are taking the opportunity to improve hygienic practices. To help protect members of the temple and the community from contracting Coronavirus, the Abbot from Chak Daeng temple, on the banks of the Chao Phraya just south of Bangkok, has been busy crafting recycled plastics into face masks. The Chak Daeng temple has developed a method of using recycled plastics donated from the community and retrieved from Bangkok’s Chao Phraya river to make a fabric which they use for robes and more recently, into hygienic face masks. Monks crush the plastic and shred it into small flakes allowing the material to be converted into polyester and spun into yarn and woven into robes in a beautiful polyblend of traditional and modern problem solving. With some alterations, the recycled plastics can be used to make face masks to help people stay safe this year. ... » Learn More about Bangkok temple develops hygienic face mask from recycled plastics