The South-East Asian country is continuing to feel the impact of the pandemic after record growth was recorded in the previous two years.
The reopening of the economy in the Philippines has helped the country reduce its unemployment numbers.
The International Airport Transport Association has called on governments to open borders in a bid to save the ailing airline industry.
The latest statistics provided by the Australian Bureau of Statistics also points to the country’s worst economic years in more than 60 years.
While confident that they can tide over the pandemic, most businesses in Singapore acknowledge the challenges facing them.
The Recovery Movement Control Order (RMCO), which had been slated to end on August 31, will now be extended to the end of 2020.
Further measures such as subsidies to encourage more hiring and domestic travel are expected to be rolled out in the near future.
Both workers and businesses will benefit from the stimulus programmes introduced by the Indonesian government.
The IFC has earmarked a series of financial aid initiatives to provide COVID-19 support for MSMEs in Asia-Pacific.
Despite the uncertainty presented by the pandemic, SMEs in Vietnam will continue with their investment plans.
57 billion baht worth of loan guarantees have been earmarked for Thai SMEs struggling under the weight of COVID-19.
The human resources ministry in Malaysia is working to reduce cases of local and foreign workers losing their jobs through the redeployment initiative
The three most common cost-cutting measures are adjustments to monthly salary components, no-pay leave and shorter work weeks.
This is in line with a 17.1% contraction of the economy in the same quarter, as total hours worked dropped because of COVID-19.
The COVID-19 pandemic has crippled Thailand’s tourism industry, which is critical for the country’s economy.
Not since the Asian financial crisis of 1998 has the country experienced such a toll on its economy.
The RM1.5 billion programme was introduced to help workers who have been displaced by the COVID-19 pandemic find jobs.
The Philippines government has set aside 120 billion pesos for a credit guarantee programme that will help small businesses gain access to loans.
A new scheme offers cabin crew members the option of early release or retirement as the airline continues to struggle with the COVID-19 pandemic.
The job creation Bill will make it more attractive for foreign companies to create jobs in the country which has seen record unemployment rate.
Consumer confidence and business conditions continue to be adversely impacted by the COVID-19 pandemic.
Malaysia’s economic recovery will depend on SMEs getting back on their feet, suggested Malaysia’s International Trade and Industry Minister.
This represents the biggest slump in quarterly GDP data dating back to 1981, and plunges the Philippines into recession.
A loan from the Asian Development Bank will help the Thai government give more support to SMEs in the country.
The country’s HR Minister reassured local citizens will be given priority when it comes to any available job openings.
Uber employees can choose to continue working from home through June 2021, even if offices open before then.
Virgin Australia will also layoff about a third of its workforce as the carrier aims to rebrand as a “value airline”.
The London-based bank, which makes 90% of its profits in Asia, saw its profits for the first half of the year plunge 65%.
Takorn Tantasith, former secretary-general of Thailand’s NBTC, envisions Thailand as a WFH hub for the world.
Without an extension of a loan moratorium, many SMEs are at risk of closing down, warned the Federation of Malaysian Manufacturers.