Inflation in South Korea 2nd highest in region: IMF
The International Monetary Fund said inflation would hit 4% this year, second behind only New Zealand, in partly due to the war in Ukraine.
ECONOMIC AFFAIRS
Indonesia to ban exports of cooking oil, ingredients
President Joko Widodo said in a video statement that the ban would last for an “unspecified time” but be continuously evaluated.
Cambodian poverty rate rises to 17% due to Covid pandemic
A major factor was the restrictions imposed by the international community on Cambodia’s textile and agriculture sectors.
Indonesia’s AGO blames corruption for cooking oil scarcity
A Foreign Trade Director General had allegedly issued export permits illegally for palm oil producers leading to a scarcity of cooking oil.
Pakistan finance minister leaves for US to meet IMF officials
He also said the government would ensure fiscal discipline to restore the programme, with no extra burden would be put on the people.
Hong Kong joining RCEP to boost global trade: Expert
At present, the total trade volume between Hong Kong and RCEP economies accounts for 60% of the total volume external trade.
Hong Kong’s jobless rate rises to 5%
Nearly all major economic sectors saw an increase in both the unemployment rate (not seasonally adjusted) and underemployment rate.
Japan govt preparing additional cash handouts for low-income households
The latest handout, amounting to ¥100,000 (US$780) will cover households that were newly exempted from resident tax from fiscal 2022.
South Korea’s longest serving fiscal chief to retire amid mixed reviews
While some say that Hong Nam-ki has uplifted the economy, critics argue he has taken the lead in reckless use of taxpayers’ money despite mounting government debt.
Traditional Indonesian crackers to cost more as inflation continues to bite
Jakarta, like many cities across Indonesia, has seen price hikes in a raft of staple foods this year due to various external factors.