by Teuvo Tuomi | Jan 16, 2024 | Cambodia, Economy, News
Cambodia exported about 11 billion US dollars worth of garment, footwear, and travel products in 2023, decreasing 12%, the General Department of Customs and Excise reports. Apparel and textiles accounted for over 8 billion dollars in 2023, a drop of 11% from a year...
by Teuvo Tuomi | Jan 15, 2024 | Asia, Economy, News, Visions
Since 2020, the richest five men in the world have doubled their fortunes, Oxfam reports. At the same time, almost five billion people globally have become poorer. Hardship and hunger are a daily reality for many people worldwide. At current rates, it will take 230...
by Teuvo Tuomi | Jan 12, 2024 | Economy, News
The World Bank forecasts just 2.4% global economic growth year on year in 2024. High interest rates remain a major factor. Excluding the contraction of the global economy in 2020 due to the impact of the COVID-19 pandemic, the growth rate of 2024 will be the lowest...
by Teuvo Tuomi | Jan 10, 2024 | ASEAN, Economy, News, Southeast Asia
The Asian Development Bank (ADB) has lowered the growth outlook for Southeast Asia in 2023 from 4.6% to 4.3%. This is mainly due to weak demand for manufacturing exports. Southeast Asia’s growth forecast for 2024 has also been revised down to 4.7% from 4.8% because of...
by Teuvo Tuomi | Jan 5, 2024 | Economy, Malaysia, News
Malaysia’s new sales tax on cheap items bought online from overseas merchants has drawn mixed reactions, with local sellers saying they welcomed the fairer competition while others raised concerns that the higher prices would burden the poor. Malaysia began imposing a...
by Teuvo Tuomi | Jan 5, 2024 | Business, Economy, Indonesia, News
Despite some good news, Indonesia’s economy still took a hit from weaker global demand last year, leading to almost 300,000 workers being laid off in export-oriented industries. The Manpower Ministry recorded that almost 300,000 people were laid off from January to...
