The newly appointed Industry Minister Agus Gumiwang Kartasasmita is to focus on the development of industrial zones and to increase exports of manufacturing goods during his five-year working term. In addition to increasing exports, he said he also plans to reduce imports of consumer goods and to promote import-substitution industrialization to reduce the country’s current […]
Read MoreSINGAPORE: Hong Kong’s political turmoil has prompted some capital to move to Singapore though there hasn’t been a flood of inflows from the former British colony, according to Singapore’s central bank. The city state’s banks have seen an uptick in those inquiring about how to re-allocate assets, which is reasonable to expect, Ravi Menon, managing […]
Read MoreMANILA, Philippines — Price increases felt by poor families continued to ease in September on the back of more lower utility costs and food prices, the Philippine Statistics Authority reported Thursday. Inflation for bottom 30% income households stood at 0.9% in September, slower than 2.3% recorded in August and 9.5% a year ago. According to the […]
Read MoreSINGAPORE: Asia is bracing for the latest U.S. Treasury report on foreign currency manipulators, coming in the middle of a trade war that shows no sign of ending. The twice-yearly report is due in coming weeks and will likely see the return of Singapore, Malaysia and Vietnam on the watchlist. The three Southeast Asian nations […]
Read MoreIndonesia’s ranking in the World Bank’s Ease of Doing Business (EODB) index has remained stagnant at 73rd despite efforts to attract investment by removing unfriendly regulations. The country’s ranking in the 2020 EODB index cuts against President Joko “Jokowi” Widodo’s target for Indonesia to be ranked 40th next year. According to the report, released on Thursday by […]
Read MoreU Kyaw Kyaw Maung, governor of the Central Bank of Myanmar (CBM) and his Thai counterpart Veerathai Santiprabhob, have signed a memorandum of understanding (MOU) to promote the use of the Myanmar kyat and Thai baht for trading at the border, according to an October 21 statement issued by the Bank of Thailand. The governors also […]
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