JAKARTA (Reuters) – Indonesia’s President Prabowo Subianto on Tuesday said a planned increase in value-added tax (VAT) rate by one percentage point to 12% effective Wednesday, Jan. 1, will apply only to luxury goods and services. Prabowo said the decision should end speculation over which items and services would be affected by the VAT increase. …
Indonesia’s president says VAT hike to apply only on luxury goods Read More »
ANKARA (Reuters) – Turkey imposed a 6% tax hike on fuel on Tuesday, after its finance minister said over the weekend that tax moves on fuel and tobacco would not affect the government’s inflation goal. The special consumption tax per litre for fuel has been increased by around 6%, according to a presidential decree in …
Turkey hikes fuel tax by 6%, aims to control inflation Read More »
By Jihoon Lee SEOUL (Reuters) -South Korea’s consumer inflation quickened in December, exceeding market expectations amid a weak local currency though it was still lower than the central bank’s target. The consumer price index rose 1.9% in December from a year earlier, after a rise of 1.5% in November, Statistics Korea data showed on Tuesday. …
South Korea’s consumer inflation quickens in Dec amid faltering won Read More »
(Reuters) -The dollar rose broadly on Monday, holding near a two-year high, while the Japanese yen edged up from five-month lows against the greenback as traders continued to digest the likelihood that the Federal Reserve will make fewer rate cuts next year. The U.S. currency has rallied in recent weeks on expectations for a less …
Dollar gains broadly, slips against yen with interest-rate policy in focus Read More »
KARACHI (Reuters) – Pakistan’s economy grew by 0.92% in the first quarter of the fiscal year 2024-25, despite a contraction in the industrial sector, according to data approved by the National Accounts Committee, and released by its Statistics Bureau on Monday. The South Asian country is navigating a challenging economic recovery path and has been …
Pakistan’s economy grows 0.92% in Q1 of ongoing fiscal year Read More »
ISTANBUL (Reuters) – Turkey’s tax hikes for fuel and tobacco next year will be set in a way that will not endanger the country’s 2025 inflation plans, Treasury and Finance Minister Mehmet Simsek said. Turkish annual inflation stood at 47.1% in November, higher than expected but at its lowest level since mid-2023. A Reuters poll …
Turkey’s fuel, tobacco tax moves will not harm inflation goal, Simsek says Read More »
BEIJING (Reuters) – China’s factory activity likely expanded for a third straight month in December, offering a glimmer of optimism to officials trying to steady the world’s No. 2 economy as they brace for further U.S. trade tariffs under a second Trump administration. A Reuters poll of 28 economists forecast the official purchasing managers’ index …
China’s Dec manufacturing activity seen expanding for third month – Reuters poll Read More »
LIMA (Reuters) – Peruvian President Dina Boluarte on Friday announced that the minimum wage will rise 10% starting next year to just over $300 per month, as the Andean nation shows signs of an economic recovery after slipping into a recession last year. Boluarte, in a televised speech, said that the minimum wage will rise …
Peru hikes minimum wage 10%, to around $300 a month Read More »
BRASILIA (Reuters) – Brazil’s consumer prices rose less than expected in the month to mid-December, government statistics agency IBGE said on Friday, an outcome insufficient, however, to lead economists to foresee a better outlook for inflation. Annual inflation reached 4.71% in mid-December, exceeding the target of 3% set with a tolerance range of 1.5 percentage …
Brazil mid-December inflation slows but ends year above target Read More »
SAO PAULO/BRASILIA (Reuters) – Brazil’s jobless rate hit a fresh record low in the three months through November, official data showed on Friday, but job creation slowed to its lowest pace in nearly a year as the local labor market provides some cooling signs. In Latin America’s largest economy, the unemployment rate stood at 6.1% …
Brazil’s jobless rate hits fresh all-time low but job creation slows Read More »
