Wednesday, October 28, 2020
Recently, OneSME, a cross-border digital trade platform for SMEs in Singapore and China, was launched in order to facilitate trade more easily between SMEs of the two nations. OneSME will connect business-to-business (B2B) platforms in the two countries to help local SMEs expand their overseas reach and tap significant demand...
Fortunately, the threat of COVID-19 has been contained to an extent in Malaysia. Businesses are now being allowed to resume normal operations, albeit with strict guidelines to maintain health and safety. However, the road to economic recovery will be a long and slow one. In an effort to speed up...
Hotels are mostly associated with the tourism industry. Therefore, when the COVID-19 pandemic hit, everyone was talking about how hard tourism and hotels have been hit economically. However, the challenges being faced by the events and wedding industry have not been getting as much attention. Recently, wedding planners and venue...
With SMEs making up a huge chunk of Indonesia’s economy and workforce, it is no wonder that the country is doing everything it can to make sure they make it out the pandemic in one piece. In a bid to help 10 million SMEs in Indonesia adopt digital technology...
Even the most stubborn and traditional businesses are being forced to consider their digital options as COVID-19 continues to turn the global economy on its head. Companies in Japan and Singapore in particular are looking to beef up their digital talent as they move their operations online. Even before the...
Bank of the Philippine Islands (BPI) and its microfinance arm, BPI Direct Banko, Inc. foresee an increase in lending to micro-entrepreneurs and SMEs, after the two signed a partnership deal with Philippine Guarantee Corp. (Philguarantee) on 5 August 2020. This made BPI the first bank to sign with Philguarantee. Under...
The world is going cashless. Recent trends are only accelerating the cashless march across the globe. In the US, debit cards finally beat out cash as the top way to pay in 2018, according to a Federal Reserve survey. The mobile wallet M-Pesa is used by nearly 75 percent of...
As global recession looms, Asian businesses are tightening their credit management processes in a bid to minimise bad debt risks. With COVID-19's impact on supply chains and trade, the use of trade credit has soared. Payment delays have led to suppliers using such credit tools to guarantee their cash flow. According...
Malaysian Prime Minister Muhyiddin Yassin has unveiled a RM35 billion (US$8.2 billion) stimulus package to help the nation’s economy recover from the impact of COVID-19 and the subsequent MCO lockdown measures, which saw the majority of businesses shut down for weeks under restrictions on public activities. Out of the RM35...
More than 80 percent of China's SMEs are facing cash flow problems, according to a report issued by Fudan-Ping An Research Institute for Macroeconomy under Ping An Digital Economic Research Center and the School of Economics, Fudan University. SMEs in China have always faced issues with financing, and the COVID-19...
Singapore is set to lift its lockdown measures as citizens slowly return to normalcy. The 'circuit breaker', as Singapore's lockdown measures were known, are to be lifted Tuesday in a phased reopening. The reopening will allow students back in the classroom and 75 percent of the economy to resume...
More than S$500 million of Singapore’s Fortitude Budget will be allocated to supporting the digital transformation of businesses and SMEs, including support for e-payments, adopting digital solutions, and deepening digital capabilities, announced Deputy Prime Minister Heng Swee Keat on 26 May. “Those who are willing to transform will not be...