President Joko “Jokowi” Widodo has called on local administrations to accelerate their regional budget spending to help boost the economy after Indonesia’s gross domestic product (GDP) contracted in the second quarter. About Rp 170 trillion (US$11.5 billion) in funds from local administrations were left sitting in banks, waiting to be disbursed, he said. “I am optimistic […]
Read MoreMoody’s Investors Service said Tuesday that Cambodia stood to benefit from the diversification of global supply chains — notwithstanding the partial withdrawal of EU trade privileges. “As the global trade system becomes more regionally focused, each major region – Asia, Europe and the U.S. – will likely have its own suppliers for strategically important products,” […]
Read MoreThe EU-Vietnam Free Trade Agreement (EVFTA), negotiated between the European Union and Vietnam to boost trade and investment between the two regions, is a significant economic milestone for Vietnam. Having come into effect on August 1 this year, the trade agreement will make substantial cuts to tariffs between the two trading partners, and will ultimately eliminate 99 per […]
Read MoreCosmetics brands that stock sales counters at department stores face a fresh wrinkle: fewer shops to sell their products as retailers shrink their physical footprint. Estée Lauder Cos., Amorepacific Group Inc. and Kao Corp. are looking to manage risk and diversify how their products are sold as department stores, which represent a sizable share of […]
Read MoreSINGAPORE’S second-quarter economic performance was its worst on record, while the full-year outlook was cut again, policymakers announced on Tuesday morning. Forecasters from the Ministry of Trade and Industry (MTI) have once more tightened their projection for the pandemic-driven full-year recession. They now expect a contraction of between 5 per cent and 7 per cent, […]
Read MoreINDONESIA is accelerating disbursement of some US$50 billion in fiscal stimulus to revive consumer spending and prevent South-east Asia’s largest economy from sliding into a recession. The government will pay 28.8 trillion rupiah (S$2.7 billion) to civil servants and state pensioners as a 13th month salary starting this week, Finance Minister Sri Mulyani Indrawati said. […]
Read More
Thailand
