Petroleum prices unchanged as PM prioritises ‘relief for consumers’ over revenue
The measure was taken with the "view to provide maximum relief to the consumers" despite the loss in revenue due to globally rising petroleum prices.
ECONOMIC AFFAIRS
Foot-and-mouth disease could cost Indonesia up to $1.37 billion a year
Ira Firgorita, the Agriculture Ministry’s animal health director, said that Australia and Malaysia had temporarily stopped livestock imports from Indonesia, without specifying…
Electricity usage in Shanghai rebounds as city recovers from Covid-19 outbreak
State Grid data showed electricity consumption in the first three weeks of May had reached over 78 percent of the level of the same period last year, growing at an average weekly…
Indonesia’s Trade Ministry issues new distribution rule for bulk cooking oil
The regulations came in conjunction with the government’s lifting the ban on palm oil exports after it had been in place for three weeks.
Japanese government to help 1 million people develop skills, find jobs
To promote labor mobility in growth fields, the government will offer workers re-learning opportunities and help with finding new jobs based on a package of measures worth ¥400…
Indonesia raises US$3.25 billion in its biggest global sukuk sale
The 5-year notes carry a coupon of 4.40%, while the 10-year notes have a 4.70% coupon, below the sovereign's initial price guidance, it said in a statement by the finance ministry.
Pakistan raises prices of petroleum products by Rs30 per litre
Finance Minister Miftah Ismail said the country could have gone in the "wrong direction" if the steps were not taken.
Philippines to sink 250 billion pesos deeper in debt in last days of Duterte presidency
Of the Philippines’ record-high debt pile of P12.68 trillion as of end-March, 69.9 percent of total, or P8.87-trillion, were domestic obligations.
New, higher taxes pitched to incoming Marcos Jr. admin to repay Duterte’s Covid-19 debts
As of the first quarter of 2022, the debt-to-gross domestic product ratio stood at 63.5 percent, the highest since 2005.
Japanese government to step up discussions on defense budget increase
Japan’s defense budget for the current fiscal year stands at ¥5.4 trillion, or 0.96% of gross domestic product, which is about half of the 2% target that NATO member countries…