Foreign exchange (forex) reserves surged to US$127.9 billion in April on the back of the government’s issuance of US dollar-denominated bonds in the same month, Bank Indonesia announced Friday. The current reserves level, an increase from $121 billion in March, is estimated to be sufficient to support 7.5 months of imports and to bear the payment […]
Read MoreKUALA LUMPUR, May 8 — Companies may resume business operations from May 4, 2020 without an approval letter from the Ministry of International Trade and Industry (Miti) and Covid-19 screening of workers is not mandatory, says the ministry. In a statement in relation to frequently asked questions about the conditional movement control order here today, […]
Read MoreThe board of the Social Security Office (SSO) has voiced disagreement with the Labour Ministry’s plan to raise compensation payments to workers insured under the Social Security Act who lost their jobs or were furloughed due to the Covid-19 outbreak. Tawee Deeying, an employees’ representative on the SSO board, said the board stands by its […]
Read MoreFitch Solutions has forecast Indonesia’s GDP to contract by 1.3 percent this year, compared with 2.8 percent economic growth in its previous projection, as the country is likely to see a slow recovery and remain under lockdown for a prolonged period. The national economy is heading into contraction as the country is still in the […]
Read MoreFirst time in over 2 decades MANILA, Philippines — Multiple economic shocks at the start of the year weakened the Philippine economy in the first quarter, as it posted its worst performance since the Asian financial crisis in 1998, the Philippine Statistics Authority (PSA) reported yesterday. Gross domestic product (GDP), the broad measure of economic […]
Read MoreMinistry of Post and Telecommunications (MPTC) this week opened discussions for the draft on 2020-2030 cooperation plan Lancang-Mekong countries. The purpose of the dissuasion is to review and comment on the draft concerning the infrastructure linking Lancang-Mekong countries. The Ministry of Post and Telecommunications’ Secretary of State, Khay Khunheng, who chaired the meeting said the […]
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