Investors have advised start-ups to start cutting their budgets, furloughing some employees and even laying off others to survive the COVID-19 pandemic, which will likely hit the economy hard. According to Dimitra Taslim, an investor at California-based venture capital company GGV Capital, start-ups could begin with slashing perks such as travel allowances and free food while opting for […]
Read MoreThe spread of COVID-19 is expected to hit Indonesian banks’ performance this year, but analysts remain hopeful that the industry will still be resilient enough to face the challenges the pandemic is bringing to the economy. Moody’s Investors Service has downgraded Indonesia’s banking industry outlook, along with 11 other countries in the Asia Pacific region, to negative […]
Read MoreBank Indonesia (BI) expects the April inflation rate to drop to 2.8 percent year-on-year (yoy), from 2.9 percent in March, as a result of sufficient food supplies and weak demand, the central bank governor says. BI Governor Perry Warjiyo said the central bank’s survey estimated 0.2 percent month-to-month (mtm) inflation in April, while yoy inflation would stand at […]
Read MoreIndonesia’s factory production contracted by a record level in the first quarter of the year as a result of weak demand and disruption to the supply chain against the backdrop of the coronavirus pandemic, the latest survey has shown. Bank Indonesia’s Prompt Manufacturing Index (PMI-BI) was recorded at 45.64 percent, the lowest level ever, compared […]
Read MoreThe government expects domestic coal consumption to fall as much as 5 percent this year due to lower coal-fired power plant activity in the virus-ridden economy. The Energy and Mineral Resources Ministry said on Thursday that consumption was projected to reach around 147.25 million tons this year “if the COVID-19 pandemic continues,” down from an initial Domestic Market […]
Read MoreThe Office of the Coordinating Economic Minister, which spearheads the national committee of job creation, has recorded 1.4 million applicants for the preemployment card program just a day after registration opened as companies lay off workers to survive the economic downturn caused by the COVID-19 outbreak. “Of the 1.4 million applicants, we once recorded 80,000 […]
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Thailand
