In announcing subsidies, tax cuts and other measures to lessen the impact of global price shocks on consumers and foster growth, Asia-Pacific economies could see fiscal deficits increase through 2022. – April 2022. Priyanka Kishore Head of India and South East Asia, Macro and Investor Services at Oxford Economics Makoto Tsuchiya Assistant Economist at Oxford Economics Coal mining in South Kalimantan, Indonesia. Photo by Dominik Vanyi on Unsplash. After fiscal deficits widened substantially in 2020, most Asian economies resorted to…
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April 21, 2022 Business group says unclear rules pose challenges to companies Xi Jinping’s government rolling out a host of major data laws China’s “uniquely restrictive” data laws risk boosting U.S. firms’ cost of doing business in the No. 2 economy and could lead to digital decoupling, a new report from an American business group warns. The government’s curbs on data movement across borders, ambiguous regulation and inconsistent enforcement “are particularly challenging for multinational firms,” according to the US-China Business…
On April 21, 2022, the United States, Canada, Japan, Singapore, the Philippines, the Republic of Korea and Chinese Taipei published a declaration (the “Declaration”) establishing the Global Cross-Border Privacy Rules Forum (the “Global CBPR Forum”). The Global CBPR Forum will establish an international certification system based on the existing APEC Cross-Border Privacy Rules (“CBPR”) and Privacy Recognition for Processors (“PRP”) Systems, enabling participation beyond APEC member economies. The Global CBPR and PRP Systems, as they will be known, are designed…
Jakarta, February, 2022 The Indonesian B20 Task Force has held the first meeting in the series of B20 Indonesia Presidency 2022, where a number of crucial issues such as eliminating digital inequality, sharing green economy financing, and fighting global cybercrime became the main discussion. The Indonesian Chamber of Commerce and Industry (KADIN) held the Inception Meeting of B20 Indonesia Presidency 2022 on January 27-28 in Jakarta. The two-days forum was attended by more than 2,000 participants and government delegations from…
We speak with the Philippines’ secretary of finance about the importance of sustainable finance and some long-term lessons from the pandemic An interview with: Carlos G Dominguez III Finance Secretary of the Philippines Heavy monsoon rain linked to Typhoon In-fa causes severe flooding on residential property near Calapan City, Oriental Mindoro, Philippines in July 2021. Photo by Shutterstock. In the first part of this interview, we spoke about the fiscal pressures brought about by COVID-19 on the Philippines, the country’s monetary and…
We speak with the Philippines’ secretary of finance about how the country withstood the impacts of the pandemic and continues to remain competitive An interview with: Carlos G Dominguez III Finance Secretary of the Philippines Carlos G Dominguez III, the Philippines’ secretary of finance, speaks with Unravel. COVID-19 continues to impact societies and economies globally. As days have stretched to months and months to years, the world is slowly pivoting towards “living with the virus”. Asia’s COVID story is a…
Description: This month we catch up with PBEC Board Member Luis Miguel Aboitiz who previously served as a Director of Unionbank and as Executive Vice President – Chief Strategy Officer of Aboitiz Group, before his retirement on April 30, 2020. He was also Executive Vice President and Chief Operating Officer – Corporate Business Group of AboitizPower from 2016 to 2018, and Senior Vice President-Power Marketing and Trading from 2009 to 2015. Miguel is currently a Director of Aboitiz Power…
Zoom conferencing won’t work if the Southeast Asian bloc is to tackle the big issues by Luke Hunt The rapid spread of the Omicron variant of COVID-19 across Southeast Asia is threatening to derail Cambodia’s ambitious agenda as this year’s chair of the Association of Southeast Asian Nations (ASEAN), which hinges on face to face meetings and backroom in-person negotiations among bureaucrats. Topping Prime Minister Hun Sen’s agenda are the “peace” talks with the junta in Myanmar and his plans…
Investment will increase access to credit, with specific focus on women entrepreneurs As Vietnam accelerates economic recovery amid COVID-19, IFC, LeapFrog Investments, and DEG – Deutsche Investitions- und Entwicklungsgesellschaft have invested $165 million in convertible Tier 2 bonds issued by Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), a leading Vietnamese private retail and SME bank. While strengthening the bank’s capital base, the funding will help increase lending to retail and small and medium enterprises (SMEs), including women-owned…
“Customs has a key role in making trade seamless, safe and secure,” stated WTO Deputy Director-General Anabel González at a 20 January hearing of the European Union’s Wise Persons Group on Challenges Facing the Customs Union. DDG González observed that customs authorities need to respond and adjust to changes in the global trade landscape brought about by the COVID-19 pandemic, rapid technological developments, geopolitical tensions and climate change. She added that the role of customs was becoming increasingly complex, and…