Closure of US banks has little impact on Indonesia’s banking sector: governor
The closure of Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank in the United States has no direct impact on Indonesia’s banking sector, Governor of Bank Indonesia (BI) Perry Warjiyo said on March 16.
Governor of Bank Indonesia (BI) Perry Warjiyo. (Photo: Antara)
Jakarta (VNA) – The closureof Silicon Valley Bank (SVB), SilvergateBank, and Signature Bank in the United States has no direct impact on Indonesia’sbanking sector, Governor of BankIndonesia (BI) Perry Warjiyo said on March 16.
💞 The risk of direct impact isalmost zero as most of Indonesia’s banksdo not invest funds or deposit inthese three banks, the official told the press after a BI Board of Governors’Meeting in Jakarta.
However, Warjiyo said it isnecessary to monitor the spillover effect of the incident on the market due toinvestor expectations or perceptions of the turmoil from the banks’ fall. Foreign capital inflows into Indonesia's financial market, especially investment portfolios, reached 3 billion USD as of March 13 and the outflowin March reflects the growing uncertainty in global financial markets, he said. The rupiah exchange rate increasedby 1.32% this year as of March 15. However, compared to the end of February 2023, thevalue of the rupiah has declined by 0.75%. BI will continue to stabilise the rupiah exchange rate through intervention andcoordination with stakeholders, he said, expressing his optimism that therupiah exchange rate will be strengthened in line with the stability of the Indonesianfinancial system./.
Indonesia needs to raise its economic growth to an average of 6% annually to maintain the right pace to become the world’s fifth-biggest economy by 2045.
Indonesia’s Ministry of Energy and Mineral Resources (ESDM) has issued a regulation on the implementation of carbon capture and storage (CCS) as well as carbon capture, utilisation and storage (CCUS). This is part of the government’s effort to lower carbon emissions and boost oil and gas output.
Africa has a huge potential of becoming a destination for Indonesia’s manufacturing exports, besides its traditional markets such as the US, the EU, or China, according to the Indonesian Chamber of Commerce and Industry (Kadin).
Indonesia's Ministry of Industry is striving to accelerate the growth of the battery-based electric motorised vehicle (KBLBB) ecosystem to reduce fuel consumption, according to the ministry's Secretary General Dody Widodo.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Governor of Bank Indonesia (BI) Perry Warjiyo. (Photo: Antara) 
