The Finance Ministry’s fiscal policy agency (BKF) has voiced concerns that the government’s Rp 436.1 trillion (US$28.14 billion) stimulus may be insufficient to prevent economic meltdown caused by the COVID-19 pandemic. BKF head Febrio Nathan Kacaribu said on Monday that the government wasRead more..

Hong Kong's unemployment rate rose to the highest in more than nine years in the first quarter as the coronavirus dealt a sharp shock to an economy already in recession. The seasonally adjusted jobless rate in January-March rose to 4.2% from 3.7% in previous three-month period, government data showed onRead more..

President Donald Trump said he wants to add as much as 75 million barrels of oil to the nation’s Strategic Petroleum Reserve, taking advantage of record low prices for crude, and that he’ll consider blocking imports of crude from Saudi Arabia. Oil is at “a level that’s very interestingRead more..

United States crude crashed to below US$15 a barrel on Monday, its lowest level for over two decades, as concerns about a virus-triggered demand shock and lack of storage eclipsed an output cut deal. West Texas Intermediate (WTI), the US benchmark, fell more than 19 percent to $14.73 a barrel in early AsianRead more..

Bank Indonesia (BI) is projecting the current account deficit to reach 1.5 percent in the first quarter this year, lower than an earlier projection of 2.5 to 3 percent, as COVID-19 disrupts trade and tourism activities. BI Governor Perry Warjiyo said the current account deficit would remain lower than theRead more..