Amid the recent financial turmoil in Turkey and other emerging economies, Indonesia's biggest fund managers carry a warning: Watch out for domino effects.
The government has approved the proposed acquisition of state-owned listed gas distributor PT Perusahaan Gas Negara (PGN) by state-owned oil and gas company PT Pertamina (Persero), and has asked related institutions to develop an analytical study on the plan.
Indonesia posted a robust trade surplus in November, data showed Thursday, in a sign of recovery in Southeast Asia's biggest nation that was plunged into economic turmoil in 2013.
Unless Indonesia gets its act together soon, it will not be fully ready for the ASEAN Economic Community (AEC) in 2015. If so, it is likely that we will see a repetition of what happened when the China-ASEAN Free Trade Agreement (Caftan) came into force in 2010, with the Indonesian Chamber of Commerce and Industry calling for a postponement of implementation.
Indonesia posted a small and unexpected trade surplus in October after the central bank tightened monetary policy to slow the economy and imports, a policy likely to remain in place to stem the risk of outflows once U.S. tapering kicks in.
The Thai government will issue a 75 billion baht (US$2.38 billion) bond to help fund a rice subsidy scheme that has not paid out to farmers since Oct. 1, a delay that risks alienating key supporters of Prime Minister Yingluck Shinawatra.
Indonesia's central bank unexpectedly raised its key interest rate Tuesday to rein in a widening current account deficit blamed for exacerbating recent turmoil in Southeast Asia's top economy.