Reuters Asia

Indonesia’s president has agreed to selective VAT hike, senior lawmaker says

JAKARTA (Reuters) – Indonesian President Prabowo Subianto has agreed to raise value-added tax by one percentage point to 12% next year, but only on luxury goods, Sufmi Dasco Ahmad, deputy speaker of parliament, told reporters on Friday. Starting Jan. 1, 2025, VAT will rise to 12% from 11% currently. There has been public pressure to …

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South Korea’s opposition leader warns of another martial law attempt

By Hyonhee Shin SEOUL (Reuters) – South Korea’s main opposition leader Lee Jae-myung warned that President Yoon Suk Yeol might make another attempt to declare martial law before parliament votes on impeaching him on Saturday. Yoon’s brief imposition of martial law late on Tuesday sent Asia’s fourth-largest economy into turmoil, with Lee’s Democratic Party and …

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How Lee Jae-myung and South Korean opposition rallied in defiance of martial law

By Josh Smith SEOUL (Reuters) – When South Korean President Yoon Suk Yeol declared martial law, lawmakers from the main opposition party raced special forces soldiers to the parliament building to hold a vote against the measures. Now the same politicians who climbed the compound’s walls on Tuesday to avoid security cordons are spearheading an …

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Indian benchmarks log best week in 6 months as cenbank boosts liquidity

By Bharath Rajeswaran and Indranil Sarkar (Reuters) -Indian benchmark indexes logged their best week since June on Friday, led mainly by financials as the central bank cut the cash reserve ratio (CRR) that banks are required to hold, effectively easing monetary conditions. The NSE Nifty 50 settled 0.12% lower at 24,677.8, while the BSE Sensex …

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Rattled by China, West scrambles to rejig critical minerals supply chains

By Amy Lv, Divya Rajagopal and Ernest Scheyder BEIJING/TORONTO/LONDON (Reuters) – China’s trade restrictions on strategic minerals are starting to hit Western companies where it hurts. Blaming Beijing’s curbs on antimony exports announced in August, German chemicals and consumer goods heavyweight Henkel told customers last month it had declared force majeure and suspended deliveries of …

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Two critical online views on China’s economy vanish ahead of policy meeting

BEIJING (Reuters) – A bearish commentary by a prominent economist on China’s weak consumption, unemployment and “dispirited” youth that went viral on social media has vanished from the country’s tightly controlled internet. The loss of access to the comments by Gao Shanwen, chief economist at state-owned SDIC Securities, come ahead of a meeting of Chinese …

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