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Chief of E. Asia economic surveillance unit's tenure to be extended

East Asian countries, meeting in Myanmar on Saturday, are planning to extend the tenure of the Japanese head of the region's first economic and financial surveillance unit as they take further steps to strengthen the ability to help the region avert financial crises.

Indonesia's economy grows 5.78% in 2013, slowest pace since 2009

The Indonesian economy in 2013 expanded at its slowest pace in four years with growth of 5.78 percent, the Central Bureau of Statistics said Wednesday. The bureau attributed the figure to sluggish exports and higher interest rates that dragged on consumption as the central bank has raised its benchmark rate by 1.75 percentage points since June.

Indonesia commemorates world's anti-corruption day

Indonesia commemorates world's anti-corruption day JAKARTA, Dec. 9 (Xinhua) -- Indonesia on Monday commemorated the international anti-corruption day that falls on Monday by conducting a week-long anti-corruption exhibition, declaring a national campaign to regard corruption as common enemy.

Indonesia's annual inflation at 8.37 pct last month

Indonesia's annual inflation at 8.37 pct last month JAKARTA, Dec. 2 (Xinhua) -- Indonesia's consumer price index in November rose 8.37 percent from a year earlier, after rising 8. 32 percent in October, the national statistic bureau announced here on Monday. On month, the inflation in November was slightly up 0.12 percent against 0.09 percent in October, head of the bureau Suryamin said. He said that the prices of basic needs, such as rice and chili, were in check, while other components, such as groceries and clothing, had deflation.

Foreigners' buying rally sets record on main bourse

By Kang Yoon-seung SEOUL, Oct. 17 (Yonhap) -- Foreigners became net buyers of Seoul shares for an all-time long period, market watchers said Thursday, as South Korea's healthy financial condition sparked their appetite for local equity assets. Overseas investors became net buyers on the main bourse for the 35th consecutive trading session, breaking its earlier record of 34 days tallied in 1998, when they sought after undervalued stakes after the 1997 Asian crisis.

World Bank cuts China, East Asia growth forecasts

By Kevin Lim SINGAPORE (Reuters) - The World Bank lowered its 2013 and 2014 economic growth forecasts for China and most of developing East Asia on Monday, citing slower growth in the world's most populous nation as well as weaker commodity prices that have hurt exports and investments in countries such as Indonesia. "Developing East Asia is expanding at a slower pace as China shifts from an export-oriented economy and focuses on domestic demand," the World Bank said in its latest East Asia Pacific Economic Update report.

Indonesian central bank runs low on options for rupiah defense

By Rieka Rahadiana JAKARTA (Reuters) - Indonesia's central bank has few weapons left to defend the rupiah if Asia's worst-performing currency comes under fresh attack, as a government facing elections next year dallies over making unpopular reforms that could cut external deficits. Down 16 percent against the dollar so far this year, the rupiah has seen its slide level off recently, but investor confidence in Indonesia remains in short supply.

Top Indonesian judge arrested in corruption scandal

Indonesian anti-corruption investigators have arrested the constitutional court's top judge for allegedly accepting a bribe of more than $250,000 in a case linked to a disputed election, an official said Thursday. Akil Mochtar was detained late Wednesday at his Jakarta home shortly after a businessman and a lawmaker allegedly handed him around three billion rupiah, said Corruption Eradication Commission (KPK) spokesman Johan Budi. It is just the latest high-profile corruption case in Indonesia, one of the most graft-ridden countries in the world.

Indonesian cat-poo coffee producers deny mislabelling

Indonesian producers of gourmet coffee made from beans excreted by civet cats denied Friday they were routinely misleading consumers after a report said coffee from caged animals had been labelled "wild". The Indonesian Kopi Luwak Association also defended the practice of keeping the weasel-like creatures in cages to make the coffee, saying it was fine as long as the end product was clearly labelled. "Kopi Luwak" has found its way to cafes around the world in recent years, and is one of the world's most expensive coffees.

Indonesia central bank hikes rates, cuts growth outlook

Indonesia's central bank Thursday unexpectedly hiked its main interest rate in an aggressive bid to boost the rupiah, as it forecast recent economic turmoil would push growth in 2013 to a four-year low. It was the second hike in the space of two weeks, and means Bank Indonesia has now lifted its key rate 150 basis points since June to prop up the currency as investors flee Southeast Asia's top economy. Emerging markets, from Brazil to Turkey, have been hit hard by fears that the US Federal Reserve may taper off its bond-buying programme.
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