The recently elected Indonesian President, Prabowo Subianto, has announced a bold economic strategy that involves allowing the nation’s debt-to-GDP ratio to rise to 50%. This decision is contingent upon the administration’s ability to significantly increase tax revenues. According to Prabowo’s brother and adviser, Hashim Djojohadikusumo, Indonesia could maintain its investment-grade rating even with a higher
Economy
The dollar weakened on Wednesday as Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts in the near future. Powell expressed a desire to see further declines in inflation before making any decisions. This comes ahead of the release of the consumer price index (CPI) data which is expected to show easing prices
In a recent speech to the Asia House think tank in London, Bank of England Chief Economist Huw Pill expressed caution regarding the possibility of an interest rate cut in August. Pill highlighted the strong price pressures in Britain’s economy, stating that services inflation and wage growth displayed “uncomfortable strength.” Despite headline inflation meeting the
Turkey’s Statistical Institute (TUIK) has been under scrutiny due to credibility concerns surrounding its inflation data. The institute faced criticism earlier this year when it admitted to not having historical data on product prices beyond May 2022 and stopped sharing it. This lack of transparency raised suspicions among economists and analysts. In an attempt to
The U.S. dollar is currently trading near a multi-week low against major peers as a result of Friday’s unexpectedly soft jobs report. Traders are anxiously awaiting Federal Reserve Chair Jerome Powell’s testimony to gain insight into the future path of interest rates. This uncertainty has led to the dollar index remaining flat at 104.99 in
The recent rally in chip stocks has had a significant impact on the overall market performance, leading to record highs for both the Nasdaq and S&P 500. As investors eagerly awaited fresh inflation data, commentary from Federal Reserve Chair Jerome Powell, and the start of quarterly earnings season, chip stocks like Nvidia, Super Micro Computer,
France’s left-wing New Popular Front (NFP), a coalition of the Communist Party, the hard left France Unbowed, the Greens, and the Socialist Party, has emerged as the leading bloc in the next parliament. However, despite this achievement, they do not hold a working majority. This has raised questions about who will be chosen as the
Investors are entering the new week with optimism following positive U.S. job figures. The “soft landing” scenario remains intact, leading to a decrease in the dollar and bond yields. This has fueled a continued “risk-on” sentiment in the stock markets worldwide, with many major equity markets reaching record or multi-year highs. Despite some concerns such
France is witnessing a political reshuffle as political parties rush to establish alliances following President Emmanuel Macron’s unexpected decision to hold a parliamentary election. This move has resulted in the division of the political landscape into three major blocs. These include the far-right National Rally, the leftwing New Popular Front, and Macron’s centrist coalition known
China’s prominent electric vehicle manufacturer BYD has solidified its foothold in the Thai market by acquiring a 20% stake in Rever Automotive, its local distributor in Thailand. This significant move comes as BYD aims to further strengthen its position in Thailand, which is considered its largest market outside of China. BYD recently inaugurated its first
As the U.S. presidential election draws near, bond investors are reevaluating their strategies due to the uncertainty surrounding the outcome. Following President Joe Biden’s lackluster performance in the first presidential debate against Donald Trump, yields have seen a sharp increase, leading investors to speculate on the possibility of a second Trump presidency. The benchmark 10-year
The recent decision by a federal judge in Texas to partially block a Federal Trade Commission rule regarding noncompete agreements has sparked a heated debate. The ruling has far-reaching implications for both businesses and workers across the United States. This article will delve into the details of the ruling and its potential impact on the