JAKARTA: Indonesia’s central bank said on Monday it will allow transaction settlement for bilateral trade between Indonesia, Malaysia and Thailand to be conducted in local currencies. The new regulation is aimed at reducing dependency on the US dollar and limiting exposure to volatile foreign exchange rates. The rule, which goes into effect on Jan 2 […]
Read MoreHANOI — The Ministry of Finance’s proposal to impose 10 per cent value added tax (VAT) on the transfer of land use rights has met with objections, as it might increase land prices. According to Nguyen Manh Ha, vice chairman of the Vietnam Real Estate Association, the VAT proposed by the ministry in a recently […]
Read MoreGarment and footwear makers are set to submit today a petition to the government of the United States to give Cambodian footwear exports preferential trade treatment under the US Generalised System of Preference (GSP) scheme. The new submission follows the announcement that the US government is due to review its GSP program for least-developed countries […]
Read MoreA review of the implementation of the National Socio-Economic Development Plan for 2017, discussions on plans for the coming year and introduction of draft laws up for debate were on the agenda as the National Assembly (NA) kicked off its fourth ordinary session yesterday in the capital. President Bounnhang Vorachit, Prime Minister Thongloun Sisoulith and […]
Read MoreThe number of new businesses registered with the Commerce Ministry rose 8% in September, signalling the economy is continuing to recover, says the Business Development Department. Director-general Kulanee Issadisai said the number of new companies and partnership companies registered with the department was 6,532 last month, up 8% from the same period last year. The […]
Read MoreTEMPO.CO, Jakarta – Bank Indonesia (BI) has issued a regulation on the settlement of bilateral trade transactions using local currency settlement (LCS), such as rupiah. BI communication director Arbonas Hutabarat said via the central bank’s website that the regulation aims to support the rupiah stability by reducing dependence on the US dollar when settling bilateral trade transactions. […]
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