Indonesia says its poverty rate the lowest in two decades
According to the Central Statistics Agency, there were roughly 23.85 million Indonesians living in poverty as of March this year – representing 8.47 per cent of the country's total population of 280 million.
BPS categorises people living off Rp 609,160 a month, about US$37, as poor.
'The poverty line figure for 2025 is the lowest for the past two decades,' the agency's senior official, Ateng Hartono, told a press conference.
However, the agency noted the significant gap between big cities and rural areas, with villages still seeing a higher poverty rate.
Jakarta last week struck a trade deal with the United States that will see Indonesian goods hit with a 19 per cent tariff – lower than the threatened rate of 32 per cent.
According to Washington, nearly all US goods will be able to enter Indonesia tariff-free.
Indonesia's Coordinating Minister of Economics Airlangga Hartarto said earlier this week that if Washington had insisted on the 32 per cent tariff, around one million Indonesians could lose their jobs and the poverty rate could increase. AFP
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
an hour ago
- Straits Times
Latest Astrea bonds over 3 times subscribed, drawing more than $3.4 billion in demand
Sign up now: Get ST's newsletters delivered to your inbox Fund manager Azalea increased the bond's retail tranche by 37 per cent compared to previous issuance to meet demand. SINGAPORE - Investor demand for the latest Astrea private equity (PE) bonds has surged, with total subscriptions surpassing $3.4 billion across all three classes – 3.4 times the total US$780 million (S$1 billion) issued under both the public and placement tranches. In a statement on Aug 7, fund manager Azalea Investment Management – which offered the Astrea 9 bonds – described it as its largest retail order book to date, underscoring strong investor confidence in the platform's track record and credit quality. The public offers for Class A-1 and Class A-2 bonds alone drew over $1.5 billion in valid applications – 3.5 times the combined $380 million and US$50 million offered. To meet growing demand from individual investors, Azalea increased the retail tranche in Astrea 9 by 37 per cent compared to the previous issuance, Astrea 8. For the Singapore dollar-denominated Class A-1 bonds, Azalea received $1.2 billion in valid applications from 34,969 applicants, with more than 82 per cent of the bonds allocated to those who applied for $50,000 or less. The US dollar-denominated Class A-2 bonds saw US$280 million in valid applications from 12,592 applicants, with close to 80 per cent of the bonds allocated to those who applied for US$50,000 or less. 'We are truly heartened by the overwhelming response to the Astrea 9 public offers, which resulted in the largest retail orderbook we have seen to date,' said Chue En Yaw, chief executive officer and chief investment officer of Azalea. 'With the expanded size of the public offers, our aim was to meet growing retail demand for Astrea PE Bonds – and we are encouraged by the strong participation from investors.' Azalea, an indirect subsidiary of Temasek, also stepped up investor outreach with explainer videos, seminars and a hybrid session held on Aug 4 to help retail investors better understand the offering. More retail engagement is planned through its annual Astrea Investor Day. Top stories Swipe. Select. Stay informed. Asia Cambodia, Thailand agree on Asean observers monitoring truce, but fundamental differences remain Business Who loses the most from Trump's tariffs? Who wins? Singapore Flying greener will come at a price, industry players warn Singapore Liquor licences for F&B, nightlife venues extended to 4am in Boat Quay, Clarke Quay Opinion At 79, Liew Mun Leong has no time to be sentimental Singapore Student found with vape taken to hospital after behaving aggressively in school; HSA investigating Singapore Chikungunya cases in Singapore double; authorities monitoring situation closely Singapore CDC and SG60 vouchers listed on e-commerce platforms will be taken down: CDCs
Business Times
an hour ago
- Business Times
Paramount closes US$8 billion merger with Skydance after settling ‘60 Minutes' lawsuit
[BENGALURU] Paramount Global and Skydance Media completed their US$8.4 billion merger on Thursday (Aug 7), capping a drawn-out deal process marked by political scrutiny and shareholder concerns. Renamed 'Paramount Skydance Corp', the company's Class B shares began trading on the Nasdaq under the ticker symbol PSKY on Thursday, under the deal announced more than a year ago. They closed up US$0.10, or 1 per cent, to US$11.74. The merger combines Paramount's sprawling global distribution network and prized film and TV library with Skydance's production and technological capabilities. 'Today marks Day One of a new Paramount... the coming months will be defined by a series of focused efforts to re-engineer how our company operates, produces its creative content, and goes to market,' said David Ellison, chairman and CEO of the combined company. The company will be structured into three business segments, studios, direct-to-consumer, and TV media, with Ellison emphasising the need to expand Paramount's technological capabilities, grow its streaming business and prioritise cash flow. Paramount, like other legacy media players, is struggling with a sagging traditional linear TV business as consumers shift to streaming platforms. It took nearly US$6 billion in write-downs on cable assets. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The Federal Communications Commission (FCC) cleared the merger last month, weeks after Paramount settled a lawsuit filed by US President Donald Trump over CBS' editing of a '60 Minutes' interview with his Democratic presidential opponent Kamala Harris. The merger was approved after Skydance agreed to ensure CBS news and entertainment programming would be free of bias, hire an ombudsman for at least two years to review complaints, and end diversity programmes. Democratic FCC commissioner Anna Gomez, who voted against the merger, said the closing 'marks the final chapter of a dark moment in our nation's history. After months of cowardly capitulation, including an unprecedented payout to settle a meritless lawsuit in exchange for regulatory approval, Paramount and Skydance have completed their merger'. Gomez criticised the company's agreement to 'never-before-seen forms of government control over newsroom decisions and editorial judgement – actions that violate both the First Amendment and the law'. FCC chair Brendan Carr, a Republican, defended the provisions, saying it was necessary to include a commitment to more 'fact-based reporting, unbiased journalism... It is clear to me that something fundamental needs to change when it comes to the legacy mainstream media'. REUTERS
CNA
an hour ago
- CNA
Australia's Iress in buyout talks with Blackstone, Thoma Bravo
Australia's Iress said on Friday it had previously considered a takeover approach from Blackstone and is now in preliminary discussions with both the U.S. investment company and private equity firm Thoma Bravo over a fresh proposal. The initial proposal from Blackstone valued Iress at A$1.94 billion ($1.27 billion) but was later withdrawn, the Australian financial software firm said, without providing further details in its statement. The takeover bid comes at a time when global private firms are gathering more interest for Australia-listed software players. Earlier in the week, automotive software platform provider Infomedia agreed to a A$651 million takeover by TPG's Asia-focussed private equity fund. "Iress is currently in the early stages of engagement with Blackstone and Thoma Bravo in order to ascertain whether an offer can be made which can be recommended by the Iress Board," the company said on Friday. The announcement follows a report by the Australian Financial Review that Iress was in talks with Blackstone over a potential buyout, which could value the company at about A$1.9 billion. Blackstone declined to comment, while Thoma Bravo did not immediately respond. Iress is not unfamiliar with takeover interest from private equity firms, having previously drawn a $3 billion deal from Swedish investment firm EQT in 2021. The deal ultimately fell through after EQT walked away despite making several improved offers. The company's stock closed at A$8.38 per share on Thursday, having lost more than 44 per cent in market value since touching its record high in August 2021. In February, Iress reported a net profit after tax attributable of A$30.1 million in fiscal 2024, along with A$604.6 million in revenue. The company will release its half-year earnings next week. ($1 = 1.5323 Australian dollars)
