In a landmark development, the International Monetary Fund (IMF) has made significant strides toward enhancing its global influence and promoting diversity within the organization. At a week-long meeting held in Marrakech, Morocco, the IMF, and the World Bank, two of the world’s most influential financial institutions, discussed pivotal issues such as increased contributions to the …
IMF Agrees Funding Boost, Extra Africa Board Seat Read More »
The delegation of U.S.’ senators is reported to arrive in China on Saturday to attend the first congressional visit since their last visit 4 years ago in 2019. The U.S.’ delegation was led by Senate Majority Leader Chuck Schumer. The visit was done in the middle of sharp deterioration of the two countries’ relations, China …
The construction costs for the World Expo 2025 venue in Osaka are set to rise significantly, with estimates now reaching 235 billion yen ($1.7 billion). This marks an increase of up to 50 billion yen ($330 million) from the 2020 estimate, primarily due to surging prices for materials and labor. Originally estimated at 125 billion …
Osaka Expo 2025 Construction Costs Now $330m Over Budget Read More »
Saudi Arabia’s economic situation currently is in a transformation phase. They are having a big change in reducing oil dependence, diversifying income sources, and intensifying competitiveness. And this year is the midpoint of Saudi Arabia’s Vision 2030 expedition. The latest annual review of the International Monetary Fund (IMF) shows that Saudi Arabia has made a …
The league of Indonesian conglomerates were reported to launch a massive project worth $1,3 billion. And the project aims to build a new yet qualified ground for the new capital city of Indonesia. The massive project that was launched by the Indonesian conglomerates league was led by one of the biggest property monsters, Agung Sedayu …
Indonesian Consortium Led by Agung Sedayu Group Blast Off A $1,3 Billion Project Read More »
The US Treasury Department and China’s Ministry of Finance have established two economic working groups to reduce tensions and strengthen ties between the two countries. The groups will be divided into economic and financial parts, led by Treasury Secretary Janet Yellen and Vice Premier He Lifeng. They aim to establish a durable channel of communication …
U.S and China to Launch Economic and Finance Working Groups Read More »
The Indonesian statistics office said Friday that rice imports increased significantly in the first eight months of this year compared to the same time last year, as Southeast Asia’s largest economy looks to replenish inventories of its main grain. Global rice prices hit a 15-year high this week following India’s decision in July to restrict …
Indonesia Rice Imports Spike as Jakarta Shores Up Stocks Read More »
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand are reported to have cooperated by signing the agreement of three bilateral Memorandum of Understanding (MoUs) on 25 August 2023. The MoUs signed by the central of the three countries aims to promote the bilateral transactions in local currencies among the countries involved. Perry Warjiyo (governor …
Indonesia, Thailand, and Malaysia to Promote Local Currencies In Bilateral Transactions Read More »
China State Council issued new guidelines issued with the aim to maximize China’s foreign investment and also to attract more foreign investors to invest on Sunday, August 13th. The newly-issued guidelines consist of 24 guidelines that were made to increase the protection of the rights and interests of foreign investors, including amplifying enforcement of intellectual …
China State Council Issued New Bidding Guidelines to Increase Foreign Investment Read More »
The Central Statistics Agency (BPS) noted that Indonesia’s economy was able to grow high in the second quarter of 2023 by 5.17%, exceeding market estimates and expectations. This national achievement is higher than the majority of countries and regions, including Vietnam, the European Union, the United States and South Korea which grew in the same …
Indonesia’s Economic Growth Consistent Above 5% in Q2 Read More »
