Bank Indonesia (BI) directly purchased Rp 1.7 trillion (US$108 million) worth of sharia sovereign bonds during an auction held by the government on Tuesday, the first such direct purchase since the government issued the COVID-19 stimulus playbook. The central bank acted as a noncompetitive bidder during the auction and only bought “a small portion” of the […]
Read MoreDomestic car sales shrank for a 10th straight month in March, slumping 41.74% from a year earlier to 60,105 vehicles, hit by the coronavirus outbreak, the Federation of Thai Industries (FTI) said on Thursday. Sales in February dropped 17.1% from a year earlier. The FTI said it may again cut its forecast for 2020 sales, […]
Read MoreState-owned pharmaceutical company PT Kimia Farma plans to cut capital allocation and costs to maintain its performance during the COVID-19 pandemic, but still expects to see increased revenue this year. President director Verdi Budidarmo said on Tuesday that the company was lowering its capital allocation for the year to Rp 1.44 trillion (US$92.38 million), almost 38 percent lower […]
Read MoreMANILA, Philippines — The central bank has conducted a stress test on banks to assess their capacity to take in heavy losses during the coronavirus disease-2019 (COVID-19) outbreak and community lockdowns that disrupted their business. “We are looking at the impact of the coronavirus pandemic on the bank industry,” central bank Governor Benjamin Diokno told Philstar.com in […]
Read MoreIndonesia should turn to value-added tax (VAT) and large tech companies to address the widening shortfall in state revenue, analysts have said. Danny Darussalam Tax Center (DDTC) research partner Bawono Kristiaji said VAT and individual tax were generally more resistant to economic shocks like those that hit Indonesia during the 2008 crisis. “VAT is more resistant to […]
Read MoreIn one month, working from home has turned from a luxury for many office workers in Thailand to a necessity. While the transition is hampered by buggy video conferencing programmes, missed communications and unanswered emails, some office heads like the new concept, saying it can actually increase efficiency and keep workers happy. In the US, […]
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