JAKARTA (THE STAR/BLOOMBERG) – Indonesia has lost its prized upper middle-income status after only a year, as Southeast Asia’s largest coronavirus outbreak reverses gains in poverty and employment. The World Bank downgraded Indonesia to lower-middle income status as of July 1, with a gross national income per capita of USD3, 870. The country had graduated […]
Read MoreJAKARTA, July 1 (Reuters) – Indonesian business groups on Thursday urged authorities to ensure there is enough financial support for companies, warning that otherwise new restrictions to tackle a surge in COVID-19 cases could result in layoffs and bankruptcies. The “emergency” curbs, which come into effect between July 3 to 20, will shut shopping malls, […]
Read More[JAKARTA] Indonesia plans to impose stricter restrictions starting on Wednesday, as South-east Asia’s most populous country battles a second wave of coronavirus infections driven by the more transmissible Delta variant. President Joko Widodo will lead an internal meeting on Tuesday to discuss details of the planned new measure, called Pemberlakuan Pembatasan Kegiatan Masyarakat (PPKM) Darurat, […]
Read More[JAKARTA] Indonesia’s finance minister on Monday laid out a government proposal for an overhaul of tax regulations, including introducing a programme to report undisclosed assets, bringing in a carbon tax and hiking the VAT rate. Sri Mulyani Indrawati told a meeting with Parliament’s finance commission the measures were aimed at boosting government revenues that have […]
Read MoreJAKARTA: The Supreme Audit Agency (BPK) has warned the government over a potential decline in its ability to service its increasing debt, after it hiked state spending in 2020 to finance economic stimulus measures as part of the national pandemic response. BPK chairman Agung Firman Sampurna said that interest payments on national debt relative to […]
Read MoreIndonesia’s central bank is sending supervisors out to ensure local financial institutions aren’t defying the nationwide ban of crypto payments. During a virtual seminar, the bank’s governor reiterated that local financial firms and payment provided are prohibited from facilitating the use of cryptocurrency to settle payments or as an instrument used in other financial services. […]
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Thailand
