Economy

Indonesia Rice Imports Spike as Jakarta Shores Up Stocks

Indonesia Rice Imports Spike as Jakarta Shores Up Stocks

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 […]

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Indonesia, Thailand, and Malaysia to Promote Local Currencies In Bilateral Transactions

Indonesia, Thailand, and Malaysia to Promote Local Currencies In Bilateral Transactions

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

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China State Council Issued New Bidding Guidelines to Increase Foreign Investment

China State Council Issued New Bidding Guidelines to Increase Foreign Investment

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

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Indonesia's Economic Growth Consistent Above 5% in Q2

Indonesia’s Economic Growth Consistent Above 5% in Q2

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

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Malaysia Aims to Pursue a Position Among the Top 30 Global Economies

Malaysia Aims to Pursue a Position Among the Top 30 Global Economies

Malaysia has a grand ambition to become one of the top 30 economies in the world within the next 10 years. This ambitious plan was announced by Prime Minister Anwar Ibrahim during the Madani budget. In a statement, the Prime Minister expressed the country’s commitment to achieving this goal. He emphasized the importance of significant

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Indonesia Rises Again to Upper Middle Class, Recovering From the Pandemic

Indonesia Rises Again to Upper Middle Class, Recovering From the Pandemic

The World Bank released news on July 1, 2023 that Indonesia was again included in the Upper Middle-Income Country (UMIC) group amid various global pressures and uncertainties. According to the World Bank, Indonesia’s Gross National Income (GNI) per capita has increased by 9.8% to USD 4,580 in 2022.  Even though Indonesia still has a long

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Indonesia Stock Exchange (IDX) Recorded IPO Company Growth Highest in the World

Indonesia Stock Exchange (IDX) Recorded IPO Company Growth Highest in the World

President Director of the Indonesia Stock Exchange (IDX), Iman Rachman, stated that the growth of newly public companies on the Indonesian capital market until May 2023 was the highest in the world. Iman explained that new public companies on the IDX had increased by 4.7% year to date (ytd) to 40 public companies as of

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Philippines to Become World’s 18th Biggest Economy in 2050

Philippines to Become World’s 18th Biggest Economy in 2050

Philippines is poised to become the world’s 18th largest economy by 2050 provided it overcomes its infrastructure deficiencies, according to a long-term projection by London-based macroeconomic research organization Capital Economics. Countries currently classified as emerging markets (EM) will account for more than half of global economic output by 2050, a Fitch Group unit said on

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Indonesia's Inflation Eases to the Central Bank's Target Earlier Than Predicted

Indonesia’s Inflation Eases to the Central Bank’s Target Earlier Than Predicted

Indonesia’s annual inflation eased to 4% in May, earlier than the central bank’s expected target range. This is shown through data from the statistics bureau on Monday. Inflation in Southeast Asia’s largest economy has been above Bank Indonesia’s (BI) target range of 2 to 4% since June 2022 because of the pressure from rising global

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UK to Construct IDR 135 Trillion Battery Facility in Bantaeng, South Sulawesi

UK to Construct IDR 135 Trillion Battery Facility in Bantaeng, South Sulawesi

Bahlil Lahadalia, Investment Minister/Head of the Investment Coordinating Board (BKPM), revealed the UK’s plan to build a battery factory in Bantaeng Regency, South Sulawesi. The investment value reaches IDR 135 trillion. On Friday 31 July 2023, Bahlil was authorized to accelerate investment. He also reported this directly to President Joko Widodo. “We just had a

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