After 20 months of pandemic-induced restrictions and lockdowns, borders are in the reopening phase across Southeast Asia. Thailand opening of its border has already boosted tourism and given a ray of hope to the region's airline industry. More countries across Asia are now speeding up their reopening schedules to kickstart...
The Philippines business leaders have joined the clamor of foreign firms for the full lifting of foreign equity restriction in public services sector, particularly transportation, telecommunication and power generation. Major Filipino business groups – Philippine Chamber of Commerce and Industry, Philippine Exporters Confederation, Employers Confederation of the Philippines, Supply Chain Management...
Jungle Ventures raised $225 million in the first close of its fourth fund as the venture capital firm seeks to replicate its successes in startups across Southeast Asia and India. Many of its existing investors in previous funds backed the latest one, founding partner Amit Anand said in an interview....
Philippine Airlines will return 22 aircraft, mostly Airbus AIR.PA and Boeing BA.N jets, to lessors as it pursues a financial restructuring programme to survive after the pandemic has decimated global travel, executives said on Monday (Sep 6). Philippine Airlines last week filed for Chapter 11 bankruptcy in the United States, allowing it to continue...
It is almost certain that when we talk about financial technology (fintech) development in Asia-Pacific, the focus usually shifts on China or even India to some extent. These large economies tends to overshadow Southeast Asia potential. But, it might not be the case for long. Southeast Asia is emerging as...
Grab is launching an online supermarket in the Philippines as it tries to move beyond meal deliveries and ride-hailing to boost revenue. Consumers in Metro Manila area, with a population of more than 13 million, will be able to order vegetables, meat, seafood and other groceries via the Grab app...
Fintech and e-commerce companies in Southeast Asia are raising hefty amounts of capital as global investors bet on post-pandemic technology plays, bankers and investors said, a trend that is also stoking concerns about frothy valuations. Public equity capital raising by Southeast Asian firms has surged to a four-year high of...
The International Monetary Fund (IMF) gave the Philippines $2.8 billion (P139.4 billion) worth of special drawing rights (SDRs), boosting the country's foreign exchange buffer and adding a funding source for COVID-19 expenses. The allocation is part of the IMF's $650 billion in SDRs, the largest distribution made in the multilateral lender's...
WeWork, a global space provider, has launched WeWork Growth Campus, a new initiative aimed at boosting Southeast Asia’s entrepreneurial startup ecosystem. While Southeast Asia has seen some scale-ups rise to new heights during the pandemic, COVID-19 has presented a huge challenge for startups and the community that supports them. With...
As Philippines struggles with elevated Covid cases, the Philippine central bank is expected to keep its benchmark interest rate at a record low on Thursday (Aug 12). According to analysts surveyed by Bloomberg, key rates will be left unchanged at 2%. The central bank has also pledged to keep policy...
A report by the Wall Street Journal on Monday (Aug 2) claims that the highly contagious Delta variant is stalling Asia's economic recovery after an early rebound. The report said that adding to rising COVID-19 cases, slow progress on vaccinations has begun to paralyze the region that had, until recently,...
Huawei announced its plan to invest US$100 million in startup support at the inaugural HUAWEI CLOUD Spark Founders Summit, which took place simultaneously in Singapore and Hong Kong. Huawei said the investment would go towards its Spark Program in the Asia Pacific region, which aims to build a sustainable startup...

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