Indonesia Central Bank Pushes RRR to 9% in September

Fourth EstateIndonesia Central Bank | Image by senjakelabu29 from Pixabay

Indonesia’s central bank announced on Tuesday that while it will be keeping interest rates low amid slow recovery, the reserve requirement ratio (RRR) for banks will be hiked aggressively to keep inflation at bay. Bank Indonesia (BI) Governor Perry Warjiyo …

Read more

European Central Bank (ECB) Signals July, September Rate Hikes

Fourth EstateEuropean Central Bank (EUROSYSTEM)

The European Central Bank (ECB) is poised to raise its policy rate in July and September, President Christine Lagarde said in a blog post on Monday. “I expect net purchases under the [bond buy program] to end very early in …

Read more

EU Prolongs Budget Rule Suspension to 2023 Due to Ukraine War

The European Union extended to 2023 the budget rule suspension for EU member states amid the war in Ukraine. The European Commission said that the extension stated in the European Semester Spring Package 2022 would support EU member states. The …

Read more

Indonesia Lifts Palm Oil Export Ban

Fourth EstateBottles of Palm Oil

Indonesia will lift its three-week-old palm oil export ban starting May 23 following improvements in domestic cooking oil supply, President Joko Widodo announced on Thursday. Widodo said in a video statement that the supply of bulk cooking oil had now …

Read more

Oman In Talks With Australia and Argentina As Alternative To India Wheat Imports

Fourth EstateA combine works a wheat field

Oman on Thursday said it has a plan to import wheat from Australia and Argentina as the country is looking for alternatives to India’s wheat source. The CEO of the Omani Flour Mills Company, Haitham Al Fana Al Araimi said …

Read more

Saudi and US Top Officials Discuss Strengthening Bilateral Cooperation

Fourth EstateU.S. National Security Advisor Jake Sullivan (left) and Saudi Minister Prince Khalid bin Salman (right) - Courtesy KBS

The United States and Saudi Arabia’s top security officials met on Wednesday in Washington, where they spoke about the long-standing partnership between the two countries.  The US National Security Advisor, Jake Sullivan during meeting with Saudi Vice Minister of Defense …

Read more

Indonesian Farmers Protest Against Palm Oil Export Ban

Fourth EstatePalm Oil fruit stacked in a plantation in Indonesia (file photo)

Indonesian palm oil farmers staged a protest on Tuesday in various cities across the country, demanding the government to end an export ban on palm oil that has slashed their incomes. Farmers held a rally outside the offices of the …

Read more

UN Calls For Swift Formation Of ‘Inclusive Government’ After Elections in Lebanon

UN Secretary General Antonio Guterres has called on Lebanon to form an “inclusive government” to tackle the country’s economic crisis, and lauded authorities for conducting elections this week despite the challenging circumstance. Guterres said he is looking forward to the …

Read more

Sri Lanka’s New PM Warns Most Difficult Months Ahead

Fourth EstateUnited National Party (UNP) head Ranil Wickremesinghe has been sworn in as the new Prime Minister of Sri Lanka amid the ongoing political turmoil. - Gov't of Sri Lanka

Sri Lankan New Prime Minister Ranil Wickremesinghe warned Sri Lankans that “the next couple of months will be the most difficult ones of our lives,” during his first address to the country as prime minister on Thursday. “In November 2019, …

Read more

Azerbaijan Emerges As Hub For Transporting Goods To EU: Official

Fourth EstateRail cargo cars and containers in Azerhaijan

Azerbaijan said Tuesday that it has emerged as a hub for transporting goods to the European Union countries, and assured to work more to improve this supply chain. “We are not transporting goods to the EU countries only but also …

Read more