Economy

Asian stocks and US stock futures tumbled as central banks took sweeping action to blunt the financial impact of the coronavirus outbreak. Italy’s government will meet Monday to pass a new package of measures after deaths jumped by 368 Sunday. The Federal Reserve slashed rates to near zero and the Bank of Japan strengthened stimulus.  Airlines cut flights and could …

Germany’s foreign minister said Monday the rights to coronavirus vaccine research were not for sale, following reports Donald Trump wanted the US to buy exclusive access to a potential vaccine developed by a German biotech firm. The comments, made in an interview to media group Funke, come as scientists raced to develop a vaccine against the deadly coronavirus that has …

Thailand is preparing to restrict some aspects of daily life after the country’s biggest spike in coronavirus cases, further damaging one of Asia’s weakest economic outlooks. The steps to be considered Monday include placing more curbs on foreign arrivals, cancelling events with big crowds and closing entertainment venues deemed risky for spreading the virus. Confirmed cases jumped by 32 on …

Secretary General of the Indonesian Filament Fiber and Yarn Manufacturers Association (APSyFI) Redma Wirawasta said the stock of raw materials in the form of fibers, yarns and fabrics for the Textile and Textile Products (TPT) industry was running low. Redma said that the stock of raw materials will only last for about three weeks. He claimed the decline in stock …

Finance Minister Sri Mulyani said that at present the state’s finances are facing an abnormal situation. The corona virus outbreak and the world oil price war became a global factor that triggered a decline in the domestic economy. That was also the Ministry of Finance required to work extra. For this reason, she asked all officials and employees of the …

A proposal for a stabiliser fund to support the battered stock market is scheduled to be vetted by Prime Minister Prayut Chan-o-cha on Monday. According to Deputy Prime Minister Somkid Jatusripitak, who discussed the issue yesterday with the Finance Ministry, the Stock Exchange of Thailand (SET), the Securities and Exchange Commission (SEC) and the Bank of Thailand, all parties agreed …

Earlier, the Supreme Court’s ruling has revoked the Presidential Regulation No. 79/2010 on the hike of the Health Social Security (BPJS Kesehatan) premium for the independent class category. According to this, the Indonesian Consumers Foundation (YLKI) chairman Tulus Abadi gives the response for the BPJS case continuation. Tulus highlighted the regulation that will apply after the Supreme Court’s ruling. He …

As many 12 state-owned companies were asked to repurchase (buyback) shares of companies circulating in the public. This is in accordance with instructions from SOE Minister Erick Thohir following the drop in stock trading, which is reflected in the Composite Stock Price Index (CSPI). According to Erick Thohir through his Special Staff Arya Sinulingga explained, the stock index fell 6.58 …

Economist at the Institute for Development of Economics and Finance (INDEF), Bhima Yudhistira considered the government to be late again in dealing with stock availability and price stability of garlic. According to Bhima, the government was less alert in arresting unscrupulous garlic hoarders. Bhima assessed this scarcity occurred since January which means that before the corona virus outbreak spread. The …

All national banks are asked to reduce their lending rates to reduce the impact of the spread of the corona virus or Covid-19. This was confirmed by the Coordinating Minister for Economic Affairs Airlangga Hartarto in Jakarta on Thursday (5/3). According to Airlangga, the government has held joint meetings with Bank Indonesia, the Financial Services Authority (OJK) and banking companies …