The onset and offset of the global health crisis containment measures like lockdowns, social distancing, international air travel bans, and limiting freight transport are being enacted based on contagion rates of individual ASEAN countries and their capacity of healthcare infrastructure. The announced unemployment subsidies vary from country to country depending upon their fiscal space, while migrant labourers from heavily-infected countries are banned from travelling. … [Read more...] about From containment to recovery: rescuing the ASEAN from crisis
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Saebel: Local tourism can certainly offer a certain supply of customers; however, with the massive hotel expansion which we have experienced over the last few years, it is impossible to fill rooms in a profitable way. We certainly see reluctance in F&B sectors, with once crowded restaurants currently sparsely occupied. During times of emergency, people tend to lean toward frugality and the luxury of a hotel stay becomes an unnecessary expense. … [Read more...] about How should Vietnam prepare for post-pandemic tourism recovery?
A worker wearing protective clothing digs a grave for a coronavirus victim at the Caju cemetery in Rio de Janeiro, Brazil on May 28, 2020. (Photo: AFP/Carl de Souza) The epicenter of the South American coronavirus outbreak, Brazil saw 1,124 deaths in 24 hours, the Ministry of Health said. … [Read more...] about Brazil COVID-19 death toll hits 27,878, surpassing hard-hit Spain
In the list of 154 models subject to registration fee adjustment under Decision No.452/QD-BTC effective from April 3 on adjusting registration fees for automobiles and motorbikes, registration fees for passenger cars or cars with less than nine seats were 12 per cent in eight provinces and cities (Hanoi, Quang Ninh, Haiphong, Lao Cai, Cao Bang, Lang Son, Son La, and Can Tho), while it is 11 per cent in Ha Tinh and 10 per cent in Ho Chi Minh City, Danang, and other cities. The charge is now 7.2 per cent for a pickup truck in the first group of cities/provinces, 6.6 per cent in Ha Tinh, and 6 per cent in other cities. … [Read more...] about BUSINESS NEWS HEADLINES MAY 30
Hanoi (VNA) - The Philippine government is eyeing a stimulus package worth 846 billion pesos (16.7 billion USD) to enable a full economic recovery from the COVID-19 pandemic, according to Finance Secretary Carlos Dominguez. The stimulus package, which is waiting for Congress' approval, would include a cut in corporate income tax and modernisation of the country's fiscal incentive systems, Dominguez said. Local businesses have urged lawmakers to pass these reforms early so that small, medium and large companies can resume their operation and recover from the public health crisis. The Philippine tax authority said the country's total tax revenue in the first four months of 2020 dropped sharply to 527.41 billion pesos (22.6 million USD), or 25.4 percent below last year's collection over the same period. Despite the decreased revenue, Dominguez said the Philippines remains "financially able" to meet the unexpected challenges of the pandemic. The country also has practiced fiscal … [Read more...] about Philippines considers 16.7-billion-USD stimulus package