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☆ Indonesia's GoTo to cut 1,300 jobs to step up cost cutting
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +2 min

GoTo said it has achieved around 800 billion rupiah ($51 million) in cost savings in the first half of this year through efficiency measures in technology, marketing and outsourcing. GoTo, which offers ride-hailing and financial services, went public in April with a $1.1 billion stock sale. Its shares are trading 44% below its initial public offering price, as investor sentiment on the tech sector sours amid soaring inflation and interest rates. Shares in GoTo rose 2.8% on Friday after announcing the job cuts. In recent months, Southeast Asia's largest-ecommerce firm Shopee cut jobs in various countries and shut some overseas operations as parent Sea (SE.N) struggle with losses.

☆ Soccer FIFA boss Infantino urges World Cup ceasefire in Ukraine
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

Speaking during a lunch with leaders of the Group of 20 (G20) major economies on the Indonesian island of Bali, FIFA President Gianni Infantino said the month-long World Cup, which starts in Qatar on Sunday, offered a unique platform for peace. Football and the World Cup are offering you and the world a unique platform of unity and peace all over the world." The World Cup takes place from Nov 20 to Dec. 18 in Qatar, which is the first Middle East country to host soccer's showpiece event. Russia reached the quarter-finals of the last World Cup in 2018 but has been barred from this tournament over its invasion of Ukraine. "Maybe the current World Cup, starting in five days can be that positive trigger," he added.

Reuters reported in August that Luiz Inacio Lula da Silva, elected as Brazil's president at the end of October, would seek a partnership with the two other leading rainforest nations to pressure the rich world to finance forest conservation. The rapid destruction of rainforests, which through their dense vegetation serve as carbon sinks, releases planet-warming carbon dioxide, imperiling global climate targets. "South-to-south cooperation - Brazil, Indonesia, DRC - is very natural," the Democratic Republic of Congo's Environment Minister Eve Bazaiba said prior to the signing. In the agreement, the alliance said that countries should be paid for reducing deforestation and maintaining forests as carbon sinks. Talks on the alliance to protect rainforest until now had foundered due to "institutional difficulties," Teixeira said.

☆ Musk to join G20 summit in Indonesia virtually, CNBC Indonesia reports
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: 1 min

NUSA DUA, Indonesia, Nov 12 (Reuters) - Elon Musk will join the G20 summit in Indonesia's Bali virtually rather than in person, an official from the Indonesian Chamber of Commerce told CNBC Indonesia on Saturday. "He is unable to attend because...there are incidents in the United States and he must be present there," Arsjad Rasyid, head of the chamber was quoted as saying, adding the Twitter and Tesla CEO would join virtually. Organisers of the event did not immediately respond to a request from Reuters for confirmationReporting by Stanley Widianto and Bernadette Christina Munthe; Writing by Kanupriya Kapoor; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

☆ Musk to join G20 summit in Indonesia virtually - CNBC Indonesia
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +1 min

NUSA DUA, Indonesia, Nov 12 (Reuters) - Elon Musk will join the G20 summit in Indonesia's Bali virtually rather than in person, an official from the Indonesian Chamber of Commerce told CNBC Indonesia on Saturday. Organisers of the event and Indonesian government officials did not immediately respond to Reuters' request for confirmation. Musk is due to speak at a business event related to the summit of the Group of 20 major economies. World leaders including U.S. President Joe Biden and Chinese President Xi Jinping are attending in person, while Russian President Vladimir Putin is expected to attend virtually. After recently acquiring social media platform Twitter, Musk has been mired in a series of strategy and policy changes that have thrown the future of the company into doubt.

☆ Biden says U.S.-ASEAN pact to address 'biggest issues of our time'
▼ + stars: | 2022-11-12 | by ( Nandita Bose | ) www.reuters.com time to read: +5 min

[1/8] U.S. President Joe Biden speaks at the 2022 ASEAN summit in Phnom Penh, Cambodia, November 12, 2022. In his first visit to Southeast Asia as president, Biden said the region was at the heart of his administration's Indo-Pacific strategy and Washington was committing resources, not just rhetoric, under a new Comprehensive Strategic Partnership. ASEAN is engaging a host of leaders, including Biden, Japanese Prime Minister Fumio Kishida, Australian Prime Minister Anthony Albanese and South Korean President Yoon Suk-yeol. At the gatherings, Biden will focus on the Indo-Pacific region and talk about U.S. commitment to a rules-based order in the South China Sea, a senior administration official said earlier this week. Biden on Saturday said the meetings would discuss Russia's "brutal" war against Ukraine and U.S. efforts to address the war's global impact.

The crash into the Java Sea after take-off from Jakarta, which killed all 62 people on board, was Indonesia's third major commercial plane crash in just over six years and shone a spotlight on its poor air safety record. A working autothrottle is not required for a plane to be dispatched because pilots can control the thrust levers manually. The first officer said "upset, upset" and "captain, captain" before the recording stopped, but the captain's channel was not working, making it more difficult for investigators to analyse events. KNKT had raised the lack of upset recovery training after the 2014 crash of an AirAsia Indonesia jet that killed all 162 people on board. Indonesia is putting in place updated upset prevention and recovery training, KNKT said in the report.

☆ Indonesia to extend gas supply contract with Singapore by five years - minister
▼ + stars: | 2022-10-28 | by ( Bernadette Christina | ) www.reuters.com time to read: +1 min

Indonesian Energy and Mineral Resources Minister Arifin Tasrif speaks at the Sydney Energy Forum in Sydney, Australia July 12, 2022. Brook Mitchell/Pool via REUTERS/File PhotoJAKARTA (Reuters) - Indonesia will extend its gas supply contract with Singapore by five years, Energy Minister Arifin Tasrif told reporters on Friday, but the distribution volume is expected to be lower. The current contract for piped natural gas via the Grissik-Batam-Singapore Pipeline is due to expire next year. Tasrif told Reuters last week that the new contract might be signed as early as next week. Under the new contract Indonesia will likely supply a lower volume of gas to Singapore.

Worker loads palm oil fresh fruit bunches to be transported from the collector site to CPO factories in Pekanbaru, Riau province, Indonesia, April 27, 2022. The momentum in shipments could help to bring Indonesia's palm oil stocks, which ballooned to 6.69 million tonnes by end-June from around 4 million tonnes at end-2021, back to 4.5 to 5 million tonnes by end-September, said Eddy Martono, Secretary General at the Indonesian Palm Oil Association (GAPKI). Malaysia has also displaced Indonesia so far in the 2021/22 marketing year to end-October as the top palm oil supplier to India, according to SEA data. "Indonesian sellers are now trying hard to regain the lost market share by offering discounts," a New Delhi-based palm oil dealer said. "Palm oil is big contributor in its tax kitty.

☆ As war, drought hit global crops, Argentina gambles on GM wheat
▼ + stars: | 2022-09-20 | by ( Maximilian Heath | ) www.reuters.com time to read: +9 min

It was the first GM wheat strain in the world to receive such approval. No other global seed company has publicly endeavored to develop GM wheat since 2004, when giant seed maker Monsanto, now owned by Bayer AG, dropped plans to develop GM wheat that could withstand its weed killer Roundup. In 2020 he had threatened to halt wheat imports from Argentina after its government approved Bioceres' GM wheat. A new landmark is the recent approval in Nigeria, the only country to fully approve imports of HB4 wheat grains. Trucco said Russia's invasion of Ukraine and severe droughts in Europe and China had shifted the needle on drought-tolerant GM wheat.

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