Indonesia’s central bank governor stated on Monday ( Jul 8 ) that while the rupiah is expected to be more stable, it could be possible to reduce interest rates in the fourth quarter. However, it will concentrate its efforts to maintain currency stability for the time being. The ringgit hitContinue Reading
JAKARTA: Indonesia’s budget deficit this year is estimated at 2.7 per cent of gross domestic product, higher than the government’s 2.29 per cent target, as state spending is expected to increase due to the rupiah’s depreciation, its finance minister said on Monday ( Jul 8 ). The ringgit hit 16,Continue Reading
HONG KONG/SINGAPORE: The Hong Kong unit of DBS Group Holdings, Singapore’s biggest lender, was fined HK$ 10 million ( US$ 1.28 million ) by Hong Kong’s banking regulator for violating anti- money laundering ( AML) and counter- terrorist financing regulations. The Hong Kong Monetary Authority ( HKMA ) conducted anContinue Reading
Some Ford owners in Thailand claimed on social media that they were left experience underwhelmed by the company’s extensive discounting. ” Nothing hurts more than this”, said one owner on Facebook, explaining that a BYD Atto 3 car he had bought for 1.19 million baht ( US$ 32, 523 )Continue Reading
Japan: Japan’s largest chipmaker, Nippon Steel, and buying home Sumitomo Corp said on Wednesday ( Jul 3 )  , that they have renewed a long- word deal with Norway’s Equinor to provide seamless steel pipes for up to nine years. The pipelines will be used in Norway and other countriesContinue Reading
After Reuters reported that the main Apple provider has been rejecting married women from phone assembly jobs, Indian labor officials visited a Foxconn shop in the government’s southern this week and questioned executives about the company’s hiring practices, an official said. A five- part staff of the federal government’s localContinue Reading
India’s No 2 IT services exporter, India’s No 2 IT services exporter, settled charges for violating the country’s market regulator on Thursday ( Jun 27 ), according to the nation’s regulator. Parekh agreed to pay 2.5 million rupees (around US$ 30, 000 ) to live the markets bank’s command, whichContinue Reading
Indonesia’s antitrust regulator acknowledged in a statement on Wednesday ( Jun 26 ) that Shopee had admitted to breaking a monopoly rule for its courier service in Indonesia. Additionally, the organization stated that Shopee has agreed to modify its working procedures. A request for comment on the speech from theContinue Reading
E-commerce company Shopee announced on Wednesday ( Jun 26 ) that it would make changes to its services in Indonesia following the country’s antitrust agency’s claim that the platform had admitted to breaking anti-monopoly laws. KPPU, the antitrust body in Indonesia, claimed in a statement that Shopee had admitted toContinue Reading
MUMBAI: India’s Financial Intelligence Unit ( FIU) has imposed a fine of 188.2 million rupees ( US$ 2.25 million ) on the world’s largest crypto exchange, Binance, for operating in the country in violation of local anti- money laundering regulations. India requires that companies offering virtual digital assets (VRA )Continue Reading