by Teuvo Tuomi | Apr 6, 2023 | ASEAN, Business, Economy, News, Southeast Asia
The decision by Southeast Asian countries to use local currencies in intraregional trade will help reduce external risks because it will lessen dependence on international currencies such as the US dollar, experts say. Members of the Association of Southeast Asian...
by Teuvo Tuomi | Apr 4, 2023 | Asia, Business, Economy, News
According to Asian Development Bank (ADB), growth in developing Asia will be 4.8% this year and the next. This is up from 4.2% in 2022. The People’s Republic of China’s (PRC) recovery and healthy domestic demand in India will be the region’s main growth...
by Teuvo Tuomi | Apr 3, 2023 | Indonesia, ASEAN, Economy, EU, News
Indonesian Finance Minister Sri Mulyani has held a bilateral meeting with delegates of the European Union ASEAN Business Council (EU ABC). Vice Chairman of EU ABC Tassilo Brinzer was accompanied by 13 members coming from Swiss Re, Standard Chartered, HSBC, Prudential...
by Teuvo Tuomi | Mar 23, 2023 | Indonesia, Economy, News, Southeast Asia, Technology
Indonesia has issued various incentives to attract investments into its new capital city, Nusantara. The incentives range from income tax holidays to import tax exemptions as well as the permission to hire foreign workers for up to 10 years. Nusantara is estimated to...
by Teuvo Tuomi | Mar 20, 2023 | Philippines, Business, Economy, News
The external debt of the Philippines rose by 4.5% and hit a record high of $111.27 billion last year, as both the national government and the private sector borrowed more from offshore creditors, according to the Bangko Sentral ng Pilipinas. BSP Governor Felipe...
