Supermarket giant Tesco might sell branches in Thailand, Malaysia
Despite a statement made in summer suggesting that Tesco, the British supermarket giant, was optimistic about its prospects in East Asia, the company has recently stated that it is conducting a review of its holdings in Thailand and Malaysia, and may even consider selling them off. Five years ago the company became embroiled in an accounting scandal and has been trying to recover value since.
thailand malaysia british tesco supermarket east-asia accounting scandal
ReutersRelated Articles
Thailand’s economic leadership crisis
Over the past few weeks, Thailand has lost many Government Ministers holding key positions, due to the coronavirus crisis. So far, six Thai ministers have resigned including Finance minister Uttama Savanayana. The country also lost Deputy Prime Minister Somkid Jatusripitak, whom the Reuters report referred to as an “economic policy czar.” Thailand’s economy depends heavily on tourism and coronavirus has thrashed all economic activities
economy thailand ministers
CNBC
Malaysia cuts interest rate to the lowest level in history
The Central Bank of Malaysia on Tuesday cut its key interest rate for a fourth straight meeting to a historic low, as the country's economy grapples with the coronavirus pandemic and faltering demand for its exports. Bank Negara Malaysia (BNM) eased its overnight policy rate by 25 basis points to 1.75%. A slim majority of economists in a Reuters poll had expected a rate reduction of at least 25 bps
malaysia coronavirus rate interest
Bangkokpost
Malaysia’s exports fall to the lowest level in 11 years
Malaysian exports in May fell more than 25%, the lowest level in 11 years amid a global slowdown caused by the COVID-19 pandemic, government data showed on Monday (Jun 29). The contraction was sharper than the 19.9 % drop forecast by analysts surveyed by Reuters and the lowest since May 2009
economy malaysia exports
CNA
British expats leaving UAE amid economic crisis
British expatriates in the UAE are trying to sell their properties as they try to gather some money before returning to the UK, according to a report by British daily The Telegraph. Thousands of expats have been made redundant due to the pandemic’s devastating impact on the UAE economy. UAE expected to lose up to 900,000 jobs, and British expats seem to be among the most affected group
uae dubai british expats
AA