Bank Indonesia, the country’s central bank, is intervening in currency markets to defend the value of the rupiah amid a major slide in its value, the Straits Times reports. The rupiah has depreciated by more than 7 per cent since January, down to its lowest level since the 1998 financial crisis. The new Bank Indonesia... View Article

President Xi Jinping has outlined a further US$60 billion of Chinese financing for Africa over the next three-years, and pledged to write-off debts among poorer African nations, Reuters reports. Speaking at the Forum on China-Africa Cooperation (Focac), a triennial two-day summit in Beijing which hosts leaders from 50 African nations, President Xi said the investment... View Article

Negotiations on the Regional Comprehensive Economic Partnership (RCEP) have reached “a critical stage,” Singapore Prime Minister Lee Hsien Loong said today. Addressing the 50th ASEAN Economic Ministers’ Meeting in Singapore, Prime Minister Lee said that negotiations are likely to be “substantively concluded,” this year, Straits Times reports. His comments echo those of ASEAN foreign ministers,... View Article

US-China trade talks on the ongoing trade tensions between the two countries have ended without any significant breakthrough. Mid-level officials met for two days in the first talks since early June, in an attempt to deescalate the ongoing conflict, reported The Strait Times. South China Morning Post reported the Chinese Commerce Ministry as saying that both sides... View Article

US tariffs on up to US$16 billion of Chinese goods came into effect today, prompting China to hit back with measures of its own. Some 279 Chinese products, mainly consisting of plastics, chemicals and semiconductors, are subject to an additional 25 per cent duty, CNBC reports. China in return has introduced tariffs targeting up to US$16 billion... View Article

Malaysian Prime Minister Mahathir embarked on his state visit to China with the aim of shoring up relations between the two countries, which appeared strained after Mahathir’s cancellation of China-backed infrastructure projects. With the five-day visit concluding on Monday, the diplomatic overtures indicate that he was successful, despite the project cancellations not being overturned. As... View Article

Malaysian Prime Minister Dr Mahathir Mohamad has a busy schedule for his visit to China (17 August to 21 August), his first since retaking power in May 2018. Up to six cabinet ministers are travelling with him, according to the South China Morning Post. Mahathir is expected to meet National People’s Congress chairman Li Zhanshu... View Article

A spokesman for China’s top economic planning body, the National Development and Reform Commission (NDRC), said China still intended to meet its economic targets despite the trade war with the US and new economic data showing a significant slowdown, Bloomberg reports. China posted weak numbers on Tuesday amid US threats that it would impose further... View Article

Turkey has increased tariffs on selected US imports as a response to what the Turkish government claims is a deliberate US attack on the Turkish economy. Turkish Vice-President Fuat Oktay took to Twitter to announce a 140 per cent rise in the import tax on US alcohol, 120 per cent on cars and 60 per... View Article

The Turkish Lira fell to record lows over the weekend and spill over effects are being felt throughout Asia and Europe after increasing tensions with the US and an unexpected doubling of US tariffs on Turkish metal imports. US president Trump made the announcement on twitter on Friday evening, after negotiations for the extradition of... View Article