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Philippines, Indonesia tie for 2nd place in ASEAN factory growth rankings

MANILA, Philippines — The Philippines’ manufacturing activity registered a “quicker” pace of growth in August, sharing the second place with Indonesia while factory growth in Southeast Asia regained some momentum in the middle of the third quarter, according to monthly tracking done by IHS Markit for Nikkei, Inc. The Philippines chalked up a “modest increase” of 51.9 Purchasing Managers Index, […]

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Indonesia: Ministry, BI, OJK team up to prevent dollar speculative transactions

The Finance Ministry, Bank Indonesia (BI) and the Financial Service Authority (OJK) have teamed up to prevent speculative transactions of the US dollar that they believe have sparked negative sentiment in the country’s economy. Finance Minister Sri Mulyani Indrawati said the three institutions under the Financial System Policy Committee (KKSK) would monitor and study the behavior […]

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Indonesia: Freeport gets permit extension as divestment process incomplete

Gold and copper mining company PT Freeport Indonesia (PTFI) has been given a one-month special mining permit (IUPK) extension, which is required for the company to import its copper concentrates. Energy and Mineral Resources Ministry mineral business supervision director Bambang Susigit said in Jakarta on Monday that the extension for PTFI, a subsidiary of Freeport-McMoRan Inc (FCX), was signed by Energy and […]

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Indonesia records 0.05 percent deflation in August

Indonesia recorded deflation of 0.05 percent in August on the back of decreasing foodstuff prices, while the start of the school year resulted in inflation in the education spending category, Statistics Indonesia (BPS) announced on Monday. August’s deflation is in contrast to the 0.28 percent inflation recorded in the previous month. The latest figure brought year-to-date (ytd) inflation to 2.13 percent, while year-on-year […]

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Indonesian steel products get tariff exemption from US

The United States has made the decision to exempt 19 Indonesian steelproducts, namely carbon and alloy and stainless steels, from its 25 percent tariffs, Trade Minister Enggartiasto Lukita has said. The US government’s decision was made on Aug. 2, said Enggartiasto, claiming that it came as a result of an Indonesian mission to Washington from July 23 to 27. Led by the minister himself, the mission included a meeting on trade issues with […]

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