Economy

In the quarter II-2020, Indonesia’s economic growth contracted or -5.32% compared to the previous quarter II-2019 (year on year). Meanwhile, the Central Statistics Agency (BPS) reports quarterly or from the first quarter of 2020 to the second quarter of 2020, Indonesia’s economy contracted -4.19% (QtQ). Although Indonesia’s economic growth is experiencing a minus, according to Finance Minister Sri Mulyani Indrawati, …

The World Bank has raised the status of Indonesia from a middle-income country to an upper-middle income country. The increase in status was granted after based on the latest World Bank assessment, the Gross National Income (GNI) per capita of Indonesia in 2019 rose to USD4,050 from the previous position of USD3,840. Rahayu Puspasari, Head of the Ministry of Finance’s …

Laos is pushing ahead with the Luang Prabang dam hydropower project on the Mekong River, despite reservations aired by neighbouring countries. Especially over its potential to harm fisheries and farming downstream, the Mekong River Commission (MRC) said on Wednesday. The 1,400-megawatt (MW) Luang Prabang project will be Laos’s third and largest dam on the river, with construction originally set to …

All nightlife venues in Thailand, bars and entertainment venues, including wet massage parlous, will open their doors again on Wednesday. While some foreigners will be allowed into Thailand, but not tourists. The reopening of nightlife venues comes as virus lockdown restrictions are further eased in Thailand. According to the media,  the Centre for Covid-19 Situation Administration (CCSA) on Monday gave …

The Government of Prayut Chan-o-cha in Thailand has said it will lift the night curfew, imposed nationwide effective on June 15. In line with the fourth round of easing business restrictions the Center for Covid-19 Situation Administration (CCSA) reported. Restrictions on travelling in and out of Thailand remain in place, CCSA spokesman, Dr. Taweesin Visanuyothin said. The government would maintain controls on …

Thai Airways International (THAI) has petitioned courts in three countries to in efforts protects its aircraft from being seized by its creditors. The creditors have sought to seize Thai Airways assets including its aircraft operating scheduled flights. A Thai government spokeswoman Narumon Pinyosinwat on Tuesday that cabinet was informed about the filing of debt-rehabilitation requests in foreign countries by Deputy …

Growth in the Asean bloc is expected to bounce back to an average of 8% in 2021 through the Chinese import demand and global trade, a Oxford Economics and commissioned by the Institute of Chartered Accountants in England and Wales (ICAEW) report suggested on Monday. Asean has into recession in the first part of 2020 before recording a 1.9 per …

Global demand for essentials items such as medicine and food has kept the Southeast Asian trade afloats as the region fight the novel coronavirus pandemic and its effects on slowing down the economies around the world. Singapore’s exports, driven by pharmaceuticals, surged to 170%. Japan’s also grew record numbers. Food exports rose 66% overall, increasing almost 10-fold. Exports to the …

MANILA – The Manila Electric Co. (Meralco) on Monday announced that customers can expect a lower electricity in June, amid months of power rates increase. In an advisory, customers consuming 200 kWh per month will have a reduced rate of ₱4 in their billing, while ₱6 for 300kwh, ₱8 for 400 kWh and ₱12 for those consumers with 500 kWh. …

Trade barriers including tariff and non-tariff restrictions will be limited to support the economies of ASEAN members amid the coronavirus pandemic, Vietnamese Minister of Industry and Trade Tran Tuan Anh said in a statement. Vietnam, who is also the chair for this year’s Asean summit, hosted an online meeting with economic ministers in Southeast Asia and China, Japan and South …