COVID-19 crisis poses “a host of new challenges” to national authorities: UN
NEW YORK - The United Nations (UN) said on Thursday that the COVID-19 crisis poses "a host of new challenges" to national authorities and collective response efforts are...
Global Market News
Indonesia to use US$100 billion state spending for economic recovery
Indonesia’s government will be spending aggressively in the coming months to support a budding economic recovery after measures to contain the COVID-19 pandemic sent Southeast Asia’s largest economy...
UK businesses grew at fastest rate in 5 years after COVID-19 slump
LONDON - UK businesses in the services and manufacturing sectors grew at the fastest rate in more than five years in July as they began to recover from...
Indonesia records lowest inflation rate in two decades
JAKARTA - Indonesia’s inflation rate in July dropped to the lowest level since 2000 as the COVID-19 pandemic ravaged the people’s purchasing power, reported VNA, based on data...
Consumer prices in South Korea first increase since April
SEOUL - South Korea’s consumer price index advanced in July, led by fresh foods, adding to signs that the economic downturn from the COVID-19 pandemic is bottoming out,...
COVID-19 plunges German economy into record recession
BERLIN - The German economy contracted at its steepest rate on record in the second quarter as consumer spending, company investment and exports all collapsed during the peak...
Singapore may allow foreign banks to create digital-only units, will enhance framework
SINGAPORE - The Monetary Authority of Singapore (MAS) said it plans to revise rules governing foreign banks with a substantial local presence that may allow them to open...
Majority of banks in Asia are running on outdated core banking technology
KUALA LUMPUR - Some 95% of banks in Asia are using second and third generation banking technology, severely limiting their ability to innovate, while increasing their costs, according...
Indonesia launched a $7bil loan guarantee scheme for ‘priority’ companies
JAKARTA - Indonesia has launched a 100 trillion rupiah ($6.92 billion) loan guarantee scheme targeting businesses in priority sectors as part of efforts to help companies stay afloat...
Indonesia to lend more to regions to support economic recovery
JAKARTA - Indonesia is placing 11.5 trillion rupiah ($793 million) in state funds with some regional development banks and extending loans to provincial governments to support economic recovery...
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