Brunei, S. Korea To Resume Direct Flights Soon: Envoy

BANDAR SERI BEGAWAN, Sept 23 (NNN-ANN) – South Korea and Brunei will resume direct flights between Bandar Seri Begawan and Incheon soon, said South Korean Ambassador to Brunei, Kim Soung-eun. According to the local daily, Borneo Bulletin yesterday, the ambassador said that, before the pandemic, South Korea ranked fifth, in…

Malaysian ringgit marginally lower vs US dollar at opening

By Anas Abu Hassan KUALA LUMPUR, Sept 23 (NNN-Bernama) — The Malaysian ringgit opened marginally lower against the US dollar on Friday due to the lack of buying momentum as demand for the greenback remained strong on the back of its safe-haven status, a dealer said. At 9 am, the…

S.Korean Currency Tumbled After Fed’s Rate Hike

SEOUL, Sept 23 (NNN-YONHAP) – South Korea’s currency tumbled yesterday, after U.S. Federal Reserve’s rate hike led to a strong U.S. dollar. The won/dollar exchange rate finished at 1,409.7 won per dollar, up 15.5 won from the previous close. It marked the highest close in more than 13 years, since…

Bangladesh’s Forex Reserves Fall To Two-Year Low

DHAKA, Sept 23 (NNN-BSS) – The central bank of Bangladesh, yesterday said, the foreign exchange reserves of Bangladesh fell below 37 billion U.S. dollars – the lowest since Jul, 2020. According to the provisional data from the Bangladesh Bank, the country’s foreign exchange reserves stood at 36.85 billion dollars as…

ADB Approved 100 Million-USD Loan To Improve Health Care In NW Pakistan

ISLAMABAD, Sept 23 (NNN-APP) – The Asian Development Bank (ADB), has approved a 100 million-U.S. dollar results-based loan, to help strengthen the quality of secondary health care in Pakistan’s north-west Khyber Pakhtunkhwa province, the ADB said yesterday. The programme will help improve the delivery of health services at secondary hospitals,…

Philippine Economic Managers Downplay Weak Peso Despite Depreciation

MANILA, Sept 23 (NNN-PNA) – The Philippine currency, peso, continued to slide to record lows to the U.S. dollar, while the government’s economic managers downplayed the continued depreciation, saying, the weak currency is favourable to the country. Abdul Abiad, the Asian Development Bank (ADB), Macroeconomic Research Division director, said that,…

Mideast Countries Set To Suffer More As U.S. Fed Continues To Hike Rates

CAIRO, Sept 23 (NNN-MENA) – As the U.S. Federal Reserve raised its benchmark rates by 0.75 percentage points on Wednesday, the third such rate hike in a row, and the fifth increase in a year, Middle Eastern countries look set to suffer more from their already dramatic depreciation in the…

Indonesia Took Steps To End Dependence On Soybean Imports

JAKARTA, Sept 22 (NNN-ANTARA) – Indonesia is stepping up efforts to end the country’s reliance on soybean imports, as President Joko Widodo instructed the National Food Agency (BPN) to set a reference selling price, for soybeans grown by local farmers. The planned reference price is to encourage farmers to grow…

IMF Urged Lebanon To Restore Confidence In Banking, Financial Sectors

BEIRUT, Sept 22 (NNN-NNA) – The IMF mission chief for Lebanon, yesterday, urged the country to take measures to restore its financial confidence, Lebanon’s Presidency said, in a statement. Ernesto Ramirez Rigo, who led an IMF delegation visiting the country for three days, made the remarks in a meeting with…

ADB Lowers Laos’ Economic Growth Forecast To 2.5 Percent In 2022

VIENTIANE, Sept 22 (NNN-KPL) – The Asian Development Bank (ADB) has lowered its 2022 economic growth outlook for Laos to 2.5 percent from 3.4 percent projected in Apr, and to 3.5 percent from 3.7 percent for 2023. The slower growth projection is linked to supply disruptions and rising commodity prices,…
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