The proposed 2019 state budget is designed to face a worst-case scenario of rupiah depreciation of up to 35 percent — Rp 18,000 per US dollar –, particularly related to anticipated ballooning government debt due to the rupiah weakening. Finance Ministry Budgetary Director General Askolani said the shock estimation was a stress test that could […]
Read MoreKUALA LUMPUR: The ringgit opened lower against the US dollar today on external factors, including the ongoing US-China trade tensions. At 9 am, the local note was traded at 4.0990/1030 against the greenback from Tuesday’s close of 4.0960/0990. The market was closed on Wednesday in conjunction with the Hari Raya Aidiladha celebration. A dealer […]
Read MoreThe Monetary Policy Committee (MPC) held interest rates steady this month but discussed the timing of the first tightening in years amid concerns about the risks of keeping policy too easy for too long, minutes of the central bank meeting showed on Wednesday. On Aug 8, the committee voted 6-1 to leave the Bank of […]
Read MoreSINGAPORE’S headline inflation was steady in July with the consumer price index (CPI) up 0.6 per cent year-on-year, in line with economists’ expectations and unchanged from June, according to a Department of Statistics report on Thursday. Core inflation, which strips out the cost of accommodation and private road transport, rose 1.9 per cent year-on-year due to a larger […]
Read MoreThe Indonesian Chamber of Commerce and Industry (Kadin) and the Indonesian Employers Association (Apindo) have opposed a government plan to increase import tax on goods that can be produced locally, saying it could backfire on the economy. “The Indonesian manufacturing industry is starting to grow. Don’t let [import tax] be counterproductive to efforts to encourage […]
Read MoreCentral Group, Thailand’s largest retail conglomerate, plans to raise the number of retail sites in Vietnam over the next five years to 720, almost four times last year’s number. According to Philippe Broianigo, chief executive of Central Group Vietnam and Big C Vietnam, the company is allocating US$500 million to expand in Vietnam during 2018-22. […]
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