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October, 28, 2016

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Business > Asia > Indonesia
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.
Indonesia textile market seeks to clean up its act
After years of being overrun by a racketeering mafia, drug addicts and prostitutes, Southeast Asia's biggest textile market is cleaning up its act in an effort to win back droves of shoppers.
The government has called on local business people to seriously capitalize on markets in neighboring Southeast Asian countries by boosting exports ahead of the creation of a single market by the end of 2015.
Indonesian carriers feel weak rupiah
Some local airlines have decided to scale back their fleet expansion plans and reduce their promotion expenditure as the rupiah's fall against the U.S. dollar has began to affect their businesses.
With the rupiah sinking, George Lee, 59, a Singaporean chef working in Jakarta, feels lucky to be paid in Singapore dollars. Two years ago, he would get 7,000 rupiah for every Singapore dollar. Now, he gets over 9,000 rupiah.
Indonesia's trade deficit unexpectedly hit a record high in July, data showed Monday, heaping pressure on policymakers to shore up the economy which is facing a grim future as investors flee.
Indonesia on Friday unveiled measures aimed at boosting confidence in Southeast Asia's biggest economy after huge outflows of foreign capital this week sent stocks and the rupiah tumbling.
Indonesia's inflation hit its highest level in July since early 2009 after a fuel price hike and an increase in the cost of food during Ramadan, official data showed Thursday.
Demand for condominiums in Jakarta and nearby areas has grown in the past few years due largely to robust economic growth as well as the scarcity of land in the capital city.
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