Bank Indonesia Governor Perry Warjoyo said on Tuesday the central bank had spent Rp 7.1 trillion (US$476 million) since last Friday to help the rupiah, which stood at Rp 14,930 per US dollar at 3:30 p.m. on Tuesday. “Last Friday, we spent Rp 4.1 trillion to buy government debt papers sold by foreigners. Yesterday [Monday], we spent Rp 3 trillion,” said Perry in the House Representatives building as reported by kontan.co.id. He stressed the bank would always intervene in both the foreign exchange market and the secondary market to help the rupiah from strong external pressure in recent months. He added the central bank had also increased its seven-day reserve repo rate ( 7DRRR ) to 5.5 percent to keep the currency at its acceptable rate. “We hope that [with the intervention], financial assets like government debt papers remain attractive,” Perry said, claiming that with the 7DRRR increase, there was still capital inflow in the period between June and August. … [Read more...] about Bank Indonesia spends Rp 7.1t since Friday to help rupiah
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Digital Economy Could Add $1t to Southeast Asia’s GDP by 2025: Bain & Co
Jakarta. The digital economy can potentially add more than $1 trillion to Southeast Asia's combined gross domestic product by 2025, once the region can address digital trade barriers and improve internet infrastructure, global consultancy Bain & Company said in a report published on Monday (03/09). The report titled "Advancing Towards Asean Digital Integration," says the digital economy only accounted for $190 billion, or 7 percent the region's total gross domestic product last year, compared with 16 percent in China, 27 percent in Europe and 35 percent in the United States. "The findings from our research suggest there are significant gains if Southeast Asian countries can come together and grow as a single regional digital economy, rather than operating separately," said Florian Hoppe, a partner at Bain & Co in Southeast Asia and co-author of the report. The consultancy coopted technology giant Google, Singapore-based technology firm Sea and Rebecca Fatimah, former … [Read more...] about Digital Economy Could Add $1t to Southeast Asia’s GDP by 2025: Bain & Co
‘Web Services was the star of the show yet again’: Here’s what Wall Street is saying about Amazon’s record earnings
caption Jeff Bezos. source Isaiah Downing/Reuters Amazon on Thursday posted its largest quarterly profit in its more than two decades as a publicly-traded company. The earnings were more than double what Wall Street analysts had expected – at $5.07 per share – leading to a slew of upgrades and price target changes. Nearly every analyst notes that Amazon’s gross margin was a major driver of their freshly raised price targets, especially fueled by Web Services, one of Amazon’s fastest-growing units. Here’s what the Street is saying about the record quarter: Goldman Sachs Price target: $2,300 (from $2,100) “We continue to believe that we are in the sweet spot between Amazon investment cycles where new fulfillment/data centers are driving accelerating growth while incremental capacity utilization and efficiency is driving margin expansion,” analyst Heath Terry said. “Higher level, we remain in the early stages of the … [Read more...] about ‘Web Services was the star of the show yet again’: Here’s what Wall Street is saying about Amazon’s record earnings