Economy

In the city of Banjarmasin, South Kalimantan, 41-year-old Zainal Ridho is the proprietor of a car rental business. Previously, the day charge for his Toyota Innova was 800,000 rupiah (US$54), which included the price of subsidized Pertalite fuel. In response to the common expectation that the government will soon increase the price of subsidized fuel, he hiked the price to …

Optasia, which has its headquarters in the United Arab Emirates, intends to expand its financial-services company in Africa, Southeast Asia, and Latin America over the course of the next three years in order to reach a wider market of under-banked customers. The business now has operations in more than 40 countries and provides a variety of services including microloans, airtime, …

On Saturday (September 3), Indonesian President Joko Widodo increased the price of some fuels by almost 30 percent in an effort to rein in the skyrocketing spending on energy subsidies in the largest economy in Southeast Asia. However, economists perceived a necessity to act in order to guarantee budgetary discipline, despite the fact that the measure might potentially generate protests …

In the next two days, Indonesia’s cabinet will present policy options for fuel prices to President Joko Widodo, the country’s chief economic minister said on Wednesday (August 24), amid rising expectations of a price hike to rein in a ballooning energy subsidy budget. The announcement comes amid rising expectations of a price hike to rein in a ballooning energy subsidy …

President Joe Biden kept a promise he made during his campaign for the White House in 2020 by announcing on Wednesday (August 24) that the United States government will cancel student debts of up to $10,000 for millions of people who have graduated from college but are still stuck with debt. However, some economists have stated that it may fuel …

The finance minister stated on Monday that the key interest rate should remain low in order to underpin recovery in the economy of Thailand, which could grow by 3.0%-3.5% this year, which is less than an earlier forecast due to the rising cost of oil brought on by the conflict between Russia and Ukraine. Arkhom Termpittayapaisith, who was interviewed by …

According to comments made by Thailand’s Minister of Finance on Monday, the country’s GDP is projected to expand by 3.0 to 3.5 percent this year, with support coming from public investments and an uptick in activity within the country’s crucial tourism industry. Arkhom Termpittayapaisith told a seminar for state agencies that the country’s economy, which is the second largest in …

Kim Yo Jong, the powerful sister of North Korean leader Kim Jong Un, stated on Friday (August 19) that her country will never negotiate with an “audacious” South Korean initiative. This initiative would boost the North’s economy in exchange for the North giving up its nuclear weapons. Kim Yo Jong is the sister of North Korean leader Kim Jong Un. …

Annuar Musa, chairman of Malaysia’s special task force against inflation, stated on Wednesday that the approval to export chicken will only be granted if the domestic supply of chicken is not harmed. Annuar Musa made this statement (Aug 17). According to Mr. Annuar, this is done to ensure that the cost of chickens can be kept under control. In addition …

In an interview that took place on Thursday with CNBC Indonesia TV, Indonesian President Joko Widodo stated that the country has not yet completed the process of assessing who is qualified to receive fuel subsidies. In order to rein in the out-of-control growth of energy subsidies in the economy that dominates Southeast Asia, some have proposed limiting the number of …