Business

Laos Cuts 7-Day Base Interest Rate to 7% as Economic Risks Persist

The Bank of Laos (BOL) has cut its seven-day base interest rate from 8 percent to 7 percent a year as inflation remains below the government’s 8 percent target. The Monetary Policy Committee approved the cut at its meeting on 20 August, where it reviewed monetary policy, economic conditions, fuel...

Laos Studies USD 1 Billion Vientiane-Lidu Industrial Park in Pakngum

On 13 August, Laos agreed to study the development of a new industrial park...

Vientiane Halts New Microfinance, Pawnshop Licenses Amid Regulatory Review

On 31 July, the Bank of the Lao PDR (BoL) suspended applications for new...

Lao Authorities, Lao Bank Seek Legal Action Against Thai Media Over Money Laundering Claims

On 31 July, Lao authorities and Lao Development Bank (LDB) met with Thailand's Central...

Chinese Commerce Chamber Urges Businesses in Laos to Cut Ties with Scam Networks

The General Chinese Chamber of Commerce in Laos has told its members to check...

Wattay International Airport to Open New Buffet Restaurant Offering Lao Cuisine

The Wattay International Airport in Vientiane Capital will soon see the opening of a new all-you-can-eat restaurant and a host of shops selling Lao...

Inflation Rate Drops Slightly in August, But Worries Still Cloud Lao Economy

The country recorded an inflation rate of 25.88 percent in August, a slight decrease from July's rate of 27.80 percent, as per information from...

Laos Expects Food and Other Product Prices to Increase by 10% This Year

The Vientiane Department of Industry and Commerce has estimated that the prices of food and other essential products in Laos will increase by 5%...

Laos Suspends Power Supply to Cryptocurrency Mining Businesses

Electricite du Laos (EDL) has announced that it will no longer supply electricity to cryptocurrency mining operations in Laos, citing long-term outstanding debts. The notice,...

Savannakhet Instructs All Entertainment Venues to Shut By Midnight

The Department of Information, Culture, and Tourism of Savannakhet Province announced on Tuesday that all nightclubs, karaoke bars, and entertainment venues must close their...

Four Thai Bank Branches Discontinue Services in Laos

The Deposit Protection Office (DPO) of the Bank of Lao PDR announced this month that four Thai commercial bank branches in Laos have voluntarily...