Philippine unemployment rate at 7% in first quarter

philippines-jobfair

Unemployment rate in the Philippines has reached 7 per cent in the first quarter of 2014, representing 2.924 million unemployed people, lower than the unemployment rate of 7.5 per cent or 2.969 unemployed workers in the fourth quarter of 2013. It is also lower than the 7.6 per cent unemployment rate and 3 million unemployed … Continue Reading »

Malaysia Airlines to slash 6,000 jobs and cut routes

MalaysiaAirlinesPlane

Malaysia Airlines (MAS) is set to slash 6,000 jobs and cut routes as part of a major revamp after suffering the loss of two Boeing jets this year. State wealth fund Khazanah Nasional, which controls the flag carrier, said it would inject $1.9 billion over three years into a new company that will house the … Continue Reading »

Myanmar census a surprise: 9 million people less than estimated

Myanmar-Census

Myanmar has discovered it has only 51 million people – far less than the previously estimated 60 million, according to preliminary results of the latest census. The state-run television, which announced the initial findings of the country’s first census in three decades on August 29, said complete results would be released next year. The census, conducted from March … Continue Reading »

Hydropower to boost listings on Lao stock exchange

Laos-stock-exchange

Foreign investors keen to invest in up to planned 100 hydropower plants in Laos are the main target for newly listed shares on the Lao Securities Exchange (LSX) as it tries to increase the number of listed securities there. Companies from Thailand, Vietnam, China and Russia have shown interest in new hydropower plant investment, and … Continue Reading »

Thailand aims to become logistics hub for AEC

Bangkok BTS

Thailand’s eight-year plan to develop its transportation infrastructure at a cost of $75 brillion will turn the country into a key logistics hub in the ASEAN Economic Community (AEC) by the time the projects are completed in 2022, said Roengsak Tongsom, director of the Thai Rail Project Development Office. The goal of the strategy to … Continue Reading »

Philippines’ Rizal Bank to sell 20% stake to Taiwan lender

Rizal Bank

The Philippines’ Rizal Commercial Banking Corp (RCBC) is in talks to sell a 20 per cent stake to Taiwan’s Cathay Financial Holding Co, Rizal Bank’s chief executive said on August 29. The medium-sized lender may sell a 10 per cent stake while shareholder CVC Capital Partners Ltd may also sell 10 per cent, CEO Lorenzo … Continue Reading »

Vietnam Airlines readies for IPO in November

Vietnam Airlines

Vietnam Airlines plans to sell a stake in an initial public offering (IPO) in November this year, a move seen as a test of the government’s commitment to reforms and its ability to promote the Southeast Asian nation’s economic growth story. Global investor response to the national flag carrier’s planned float could determine the course … Continue Reading »

Singapore signs investment treaties with Burkina Faso, Ivory Coast

buzz in ouagadougou, at the place des nations unies

Trade ties between Singapore and Africa are growing. Singapore entered into a Bilateral Investment Treaty (BIT) with two African nations, Burkina Faso and Ivory Coast, at the 3rd Africa Singapore Business Forum on August 27. Introducing new approaches in areas such as logistics and water treatment can be Singapore’s role in Africa’s development by introducing … Continue Reading »

Thailand changes tourist visa-exempt rules: 30 more days approved

Visa stamp

Effective 29 August 2014, tourists from 49 countries who were permitted to enter Thailand for 30 days on what is called a “visa exempt” stamp, will be able to extend their stay for a further 30 days. In the past, it was only possible to extend a 30-day visa exempt stamp for an extra 7 … Continue Reading »

Filipino luxury retailer confident as it prepares IPO

gucci

SSI Group Inc., the Philippine retailer of Hermes shoes and Gucci handbags, said rising incomes will accelerate profit growth this year as it prepares for an initial public offering (IPO). SSI, which retails more than 100 brands through 655 stores, expects to post record earnings this year amid record overseas remittances and a booming outsourcing … Continue Reading »