Indonesia Indonesia Closes the US$3.85 billion Freeport-McMoRan Mine Deal (21 Dec 2018) Indonesia’s state-owned mine company PT Inalum took control of the local unit of Freeport-McMoRan Inc on 21 December, Friday, giving it control of the massive Grasberg copper mine. The deal hands Inalum a 51.23% stake...
Indonesia Jokowi to Double Cash Handouts under PKH (11 Dec) Social Affairs Minister Agus Gumiwan Kartasasmita told reporters that the PKH aid programme would double in scope from US$1.3 billion to US$2.6 billion in 2019. The programme, aimed at 10 million families, will be dispersed in four...
Indonesia 212 Reunion Rally Turns Political (2 Dec) Hundreds of thousands of Indonesian Muslims gathered in Central Jakarta on Sunday, 2 December, to commemorate the second anniversary of widespread protests against Jakarta’s then-governor, Basuki “Ahok” Purnama. The rally also took on a political tone as Islam Defenders...
Indonesia Surprise Rate Hike by Bank Indonesia due to Widening Current Account Deficit (15 Nov) Indonesia’s central bank surprised observers with its sixth rate hike in 2018, bringing its benchmark rate to 6%. Bank Indonesia Governor Perry Warjiyo explained that the hike was aimed at reducing the...
Indonesia GDP Growth – Better than Expected in the Third Quarter, but Dark Clouds Ahead Indonesia’s economy experienced 5.17% year-on-year growth in the third quarter, according to Statistics Indonesia. This is above estimates by agencies such as Reuters. However, economists foresee the growth rate weakening further due...
Indonesia Singapore-Indonesia Bilateral Leaders’ Retreat – Seven Agreements Signed Singaporean and Indonesian leaders signed seven wide ranging agreements during a Bilateral Leaders’ Retreat on 10-11 October. In particular, the bilateral investment treaty aims to protect investors’ interests and reinforce economic ties, while the US$10 billion currency...
The Bank of Thailand (BOT) recognizes the increasing importance of sustainable banking and has adopted a three-year strategic plan (2017-2019) to promote sustainable banking in the Thai financial sector. In this respect, the BOT organised the inaugural Bangkok Sustainable Banking Forum on 23 July 2018...
E-commerce and “smart cities” initiatives in ASEAN are increasingly being co-developed by both Chinese and ASEAN players as part of the larger “digital silk road”. What are the implications for ASEAN? A recent case study in Thailand reveals a two-fold answer: ASEAN must align national...
The Belt and Road Initiative (BRI) is about more than physical infrastructure. Beyond the fanfare about ports and railways, the BRI has a technological counterpart with far-reaching consequences for Southeast Asia – the “digital silk road”. While traditional infrastructure has been in the spotlight, the digital...
SIIA Chairman Simon Tay spoke at the Sustainable Forum 2018 on 23 July 2018 in Bangkok, organised by the Bank of Thailand. Prof Tay appeared on a panel on "Financing while Preserving Environment", commenting on Singapore's early steps towards green growth in the financial sector. While...