BANGKOK — Thailand recorded its sharpest economic contraction n over eight years, with gross domestic product falling 1.8% on the year in January to March, the country’s economic planning agency said Monday. The kingdom has re-opened shopping malls closed for nearly two months due to the coronavirus outbreak as it […]
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House buyers flood back into market after seven-week shutdown
Miles Shipside, director at Rightmove, said: “The traditionally busy spring market was curtailed by lockdown, but we’re now seeing clear signs of returning momentum, with the existing desire to move now being supplemented by some people’s unhappiness with their lockdown home and surroundings. “With no new seller asking price data […]
ASEAN banks prepare for flood of bad loans amid coronavirus havoc
SINGAPORE — Across the Association of Southeast Asian Nations, banks are bracing for a tide of nonperforming loans as the coronavirus pandemic rattles companies’ cash flows and creates difficulties in repaying debt. Singapore-based Oversea-Chinese Banking Corp. on Friday said its net profit for the first quarter ended March tumbled 43% […]