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Prabowo Subianto, Indonesia's presidential candidate and defense minister, center, waves to supporters in Jakarta, Indonesia, on Wednesday, Feb. 14, 2024. JAKARTA — Indonesia's Defense Minister Prabowo Subianto is set to become the next president in October after voters handed him a strong mandate at the Feb. 14 election. Under Widodo, Indonesia's gross domestic product has grown steadily at around 5% over the past decade — barring the pandemic years of 2020 to 2021. "Because at the end of the day, the voters will compare the economic policies which have been delivered well by the incumbent president with the next president." On the campaign trail, Prabowo's discussions on economic policy were limited, and mainly focused on promises to continue the Widodo administration's signature downstreaming policy.
Persons: Prabowo, Prabowo Subianto, Gibran Rakabuming Raka, Joko Widodo, who's, Josua Pardede, Peter Mumford, Erick Thorir, CNBC's Martin Soong Organizations: JAKARTA — Indonesia's, General, Commission, Investors, Permata Bank, Eurasia Group, CNBC Locations: Jakarta, Indonesia, JAKARTA, Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJob creation is key in our investments and partnerships with other countries: Indonesia ministerIndonesia's state-owned enterprises minister, Erick Thohir indicates that the tax system in Indonesia will be overhauled under Prabowo's administration to boost economic growth and create jobs.
Persons: Erick Thohir Locations: Indonesia, Indonesia's
Nhac Nguyen | Afp | Getty ImagesVietnamese electric vehicle, or EV, maker VinFast on Thursday said its fourth-quarter net loss deepened 3.4% from the previous three months but it aims to nearly triple vehicle sales this year as it expands into new markets. VinFast's net losses in the final quarter of 2023 reached $650.1 million, also 1.3% higher than the same period of 2022. watch nowOther automakers, in contrast, have slashed EV sales targets and curtailed investment plans due to weakening demand in major markets such as the United States. Fewer than 1,000 units were sold in North America, Thuy said, adding that new dealerships would boost VinFast's sales this year compared to its direct sales model. Founded in 2017 and making EVs since 2021, VinFast has announced numerous EV growth plans overseas.
Persons: VinFast, Nguyen, Le, Thuy, Pham Nhat Vuong Organizations: Afp, Getty, Reuters, Green SM, GSM Locations: United States, North America, North Carolina, India, Indonesia, Vietnam
Vcg | Visual China Group | Getty ImagesAsia-Pacific's travel sector is seeing strong growth, with demand for flights set to match pre-pandemic levels this year — thanks to Chinese tourists. The region's travel demand in December 2023 improved to almost 83% of 2019 numbers compared with just 57% in January, according to the International Air Transport Association. Experts believe Chinese tourists will fuel this demand, particularly as they visit Southeast-Asian destinations within the wider region. watch nowTravel demand from Chinese tourists in Southeast Asia saw a notable rise in January, said James Sullivan, head of Asia-Pacific equity research at JPMorgan. Outside of Asia Pacific, the U.S., U.K., South Korea, Japan and Australia were popular holiday spots for Chinese travelers.
Persons: Willie Walsh, CNBC's, James Sullivan, Sullivan Organizations: Visual China, Getty, International Air Transport Association, JPMorgan, ASEAN, Research, Citi, Asia Pacific Locations: Yantai, Shandong Province, China, Southeast Asia, Asia, ASEAN, Thailand, Singapore, Malaysia, Vietnam, Indonesia, U.S, South Korea, Japan, Australia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOrthodox policies in Indonesia could be a 'big boon' for local markets, economist saysNatalia Gurushina of VanEck discusses the outlook for emerging markets and the post-election outlook for Indonesia.
Persons: Natalia Gurushina, VanEck Locations: Indonesia
How Productivity Affects the Economy
  + stars: | 2024-02-21 | by ( Karen Hanley | Claire Hogan | Jeanna Smialek | )   time to read: 1 min
NOW PLAYINGHow Productivity Affects the Economy3:08Our Critic Breaks Down His Picks2:46The Importance of Latino Voters in the 2024 Election1:56‘These People Had Dreams and Ambitions’2:11Chasing Indonesia’s Massive Youth Vote1:57The Math Behind This $10 Chicken Over Rice2:00Aboard the Icon of the Seas2:47Testing Apple’s Vision Pro1:53Haley Prepares for Fierce Showdown With Trump in South Carolina2:20Exploring the Birthplace of Black History Month3:00The Menu Trends That Define Dining Right Now2:05
Persons: , Haley Organizations: Voters, Trump Locations: South Carolina
CNN —Hirotake Yano, the Japanese billionaire founder of Daiso Industries who helped popularize the discounted dollar-shop concept, has died of heart failure. Yano’s net worth was about $1.9 billion at the time of his death, according to the Bloomberg Billionaires Index. It has grown into a retail empire, with over 4,360 stores across Japan and more than 990 overseas stores of the end of 2023, according to its website. Daiso first ventured overseas in 2001, opening branches in Taiwan and South Korea. The discount chain made over 550 billion yen ($ 3.6 billion) in sales as of February 2022, according to the privately-held company.
Persons: CNN — Hirotake Yano, Yano, Daiso Organizations: CNN, Daiso Industries, Bloomberg, Tokyo’s Chuo University, CouCou Locations: Hiroshima, Japan, Taiwan, South Korea, Australia, Indonesia, Saudi Arabia, United States, Seria
“The most important objective of democracy is giving people the leaders and representatives they want,” Prabowo told reporters from his pool. Antara Foto/Galih Pradipta/ReutersMany are excited about a Prabowo presidency, like this hardcore supporter who has clearly taken his support to the extreme. Bagus Saragih/AFP/Getty ImagesMore recently, Prabowo has presented himself as a loyal Jokowi ally, serving as his defense minister for the past five years. Experts say Prabowo, known for his fiery speeches, military background and combative past will make for a very different kind of president. Indonesia has long been one of Australia’s most important bilateral relationships and experts say that will not change with Prabowo in charge.
Persons: Prabowo Subianto, ” Prabowo, Prabowo, Indonesia’s, Partai Probawo, Gibran, “ Prabowo, , Zachary Abuza, Abuza, , Antara, Pradipta, Saragih, Widodo, Barack Obama, Tom Pepinsky, Rodrigo Duterte, Javier Milei, Trump, ” “, Dita Alangkara, Jokowi, Jacqui Baker, Laura Schwartz, Schwartz, Gibran Rakabuming Raka, Adek Berry, Chong Ja Ian, Suharto, , Dan Slater, Prabowo “, ” Slater, Chaideer Mahyuddin, Chong, Juni Kriswanto, Usman Hamid, Papuans, Veronica Koman, ” Koman Organizations: CNN, National War College, Getty, Southeast Asia, Cornell University, , Center, Research, Senior Southeast, National University of Singapore, Center for Emerging Democracies, University of Michigan, Muda Airforce, Amnesty International Locations: Jakarta, United States, South Jakarta, Washington ,, AFP, Indonesia, Singapore, Ukraine, Russia, China, Australia, Asian, Perth, Asia, Beijing, Washington, “ Washington, Sultan, Muda, Aceh, West Papua, South China, Tentara Nasional Indonesia, Southeast Asia, , Papua, Amnesty International Indonesia, restive, Indonesian, East Timor
Prosecutors told relatives of victims of the 2002 bombings in Bali, Indonesia, that the U.S. government made a plea deal with two Malaysian prisoners to try to disentangle the legacy of torture from the eventual trial of the prisoner they accuse of being the mastermind of the Al Qaeda-linked attacks. The two Malaysians provided secret testimony at the time of their sentencing last month. The legacy of torture has complicated prosecutors’ efforts to hold trials in the better known Sept. 11 and U.S.S. Cole bombing cases at Guantánamo. All of it has been fodder for defense lawyers trying to discredit evidence prosecutors hope to use at the war crimes trials.
Persons: Al, Cole Locations: Bali , Indonesia, Al Qaeda, Indonesian, Bali, C.I.A
Tech executives from Adobe, Amazon, Google, Meta, Microsoft, OpenAI and TikTok gathered at the Munich Security Conference to announce a new voluntary framework for how they will respond to AI-generated deepfakes that deliberately trick voters. Thirteen other companies — including IBM and Elon Musk's X — are also signing on to the accord. Instead, the accord outlines methods they will use to try to detect and label deceptive AI content when it is created or distributed on their platforms. That pressure is heightened in the U.S., where Congress has yet to pass laws regulating AI in politics, leaving AI companies to largely govern themselves. Many social media companies already have policies in place to deter deceptive posts about electoral processes — AI-generated or not.
Persons: TikTok, Elon Musk's, , Nick Clegg, ” Clegg, Joe Biden’s, Suharto, Jeff Allen, McAfee, , Linda Yaccarino Organizations: . Tech, Adobe, Google, Meta, Microsoft, Munich Security, IBM, Elon, Facebook, , Federal Communications Commission, Integrity Institute, Arm Holdings, Twitter, Associated Press, AP Locations: U.S, San Francisco
The Global Rise of Autocracies
  + stars: | 2024-02-16 | by ( Elliott Davis Jr. | Feb. | At A.M. | )   time to read: +5 min
Autocracies – governments in which one person possesses unlimited power – are on the rise. Meanwhile, the percentage of electoral democracies – political systems that hold meaningful, free and fair elections with multiple political parties – has gone down. Starting in the 1960s and again in the 1980s, the global share of autocracies decreased dramatically as democracy started to gain more of a foothold around the world, according to V-Dem’s analysis. And despite the relative rise in autocracies in recent years, there were still 58 elected democracies globally compared to 30 closed autocracies in 2022. In 2022 there were also 58 electoral autocracies, which “hold multiparty elections but their quality or conditions around them are not sufficient to be classified as an electoral democracy,” according to V-Dem experts.
Persons: , Thomas Carothers, , , Barbara Wejnert, Carothers, Viktor Orbán, Recep Tayyip Edrogan, Narendra Modi, Subianto, it’ll, “ It’s, ” Carothers, Donald Trump, Vladimir Putin, Trump’s Organizations: Carnegie Endowment, International Peace, University of Buffalo, Global Democracy, European Union, Brookings Institution, The Washington, New York Times, Reuters Locations: Indonesia, autocracies, China, Russia, Hungary, Turkey, India, Indonesian, U.S
As Prabowo Subianto looks set to succeed Joko Widodo as President, economic growth remains resilient and inflation has stayed low over the past year. But external risks, including Russia's war on Ukraine, continue to cloud the horizon. The World Bank warned in January that global growth will slow for the third consecutive year, to 2.4% in 2024, when the global economy may record the slowest half-decade of GDP growth in 30 years. The government remains hopeful of hitting its 5.2% target in 2024, said Coordinating Minister for Economic Affairs Airlangga Hartarto in early February, acknowledging the risks posed by global economic turmoil, such as the Ukraine-Russia conflict. Regional leadershipTo reach developed country status, a nation typically requires sustained annual economic growth of 7% for 15 consecutive years.
Persons: Prabowo, Joko Widodo, Krisna Gupta, Widodo, Economic Affairs Airlangga Hartarto, Sri Mulyani, Radityo Dharmaputra, Indonesia's Organizations: World Bank, State of, Global, Center, Indonesian, Center for Indonesian, Studies, Bank, Economic Affairs, for Economic Co, OECD, Universitas Airlangga, Ukraine, Insider Studios, Foreign, Commonwealth & Development Office Locations: Indonesia, Ukraine, State, Russia, Jakarta, Southeast Asia, Crimea, Subianto
Many voters say they were drawn to president-in-waiting Prabowo Subianto's ticket in part because of the ex-commander having Jokowi's eldest son Gibran Rakabuming Raka as his running mate. That puts Gibran on track to be the youngest vice president in Indonesia's history. Gibran's path to the vice presidency has also raised questions about how prepared he is to step up to the national stage, even if the vice presidency is a position with limited power and influence. Past vice presidents have typically tended to play a low-key role, unless given a specific mandate by the president. Jokowi has repeatedly denied he was involved in Gibran's decision to run for mayor, and then for the vice presidency.
Persons: Ananda Teresia, Kate Lamb JAKARTA, Joko Widodo, Prabowo, Gibran Rakabuming Raka, Gibran, Jokowi, Kevin O'Rourke, Gibran's, Suharto, Kanupriya Kapoor, Kay Johnson, Raju Gopalakrishnan Locations: Jakarta, Singapore, Australia, Indonesia
Rights activists say it was inspired by mothers in Argentina, who staged silent protests every Thursday in memory of people who were killed or disappeared during the 1976-1983 military rule there. Other portraits of the young man were hanging on the wall of his drawing room. In the wake of Suharto's resignation, Paian said he and his family visited hospitals and police stations searching for his son. Indonesia's human rights commission completed its report on the incident in 2006, which was submitted to authorities. But no action has been taken on its recommendation to set up a special human rights court to try those suspected in the disappearances in 1997-98.
Persons: Kate Lamb JAKARTA, Indonesia's, Ucok, Prabowo, Prabowo's, Paian, We're, Suharto's, Suharto, Budiman, he's, Raju Gopalakrishnan Organizations: Commission Locations: Jakarta, Argentina, West Java
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFreeport Indonesia discusses who's investing in the country's mining industryTony Wenas, president director at Freeport Indonesia, discusses Chinese investments in Indonesia's mining and metals industry.
Persons: Tony Wenas Organizations: Email, Indonesia, Freeport Indonesia
MELBOURNE, Australia (AP) — Anthony Albanese has become the first Australian prime minister to get engaged while in office, revealing Thursday that his partner accepted his marriage proposal on Valentine's Day. The first-term prime minister said he had planned both the date and place of the proposal and even helped design Haydon’s diamond ring. Albanese wants Australia to become a republic with an Australian head of state. “I’ll be there, throwing roses out in front of you, prime minister. Albanese is only the second prime minister to live with a common law partner at the Lodge.
Persons: — Anthony Albanese, Jodie Haydon, Albanese, ” Albanese, Australia's, “ We’ll, Haydon, “ It’s, ” Haydon, Peter Dutton, King Charles III, Dutton, ” Dutton, , Julia Gillard Locations: MELBOURNE, Australia, Italian, British, Australian, Indonesia
Indonesia's Bakrie Group says it wants to get involved in nickel
  + stars: | 2024-02-15 | by ( )   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndonesia's Bakrie Group says it wants to get involved in nickel but it's the 'tip of the iceberg'Anindya Bakrie, CEO of the Indonesian conglomerate, says it has been "involved in a lot of critical minerals, such as copper and gold. Now, we want to focus on nickel as well — but nickel is just the tip of the iceberg."
Persons: Bakrie Locations: Indonesian
A loyal acolyte of a popular president with few achievements of his own. Prabowo Subianto has been called all of these over the years he has sought power in Indonesia. Unofficial tallies from Wednesday’s election show him winning a decisive victory, with nearly 60 percent of the vote. During the campaign, Mr. Prabowo repeatedly promised that he would continue on the path and policies charted by Joko Widodo, the popular departing president. But it remains unclear what kind of leader Mr. Prabowo, 72, will be.
Persons: apparatchik, Prabowo Subianto, Prabowo, Joko Widodo, Joko, Probowo, Gibran Rakabuming Raka, Prabowo’s, Mr Locations: Indonesia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets want to see a 'one-round' Indonesia election, says Maybank Sekuritas IndonesiaWilianto Ie, president director of Maybank Sekuritas Indonesia, says markets will react positively to a one-round election, but the focus will then shift to the make-up of the Cabinet.
Persons: Maybank, Ie Organizations: Markets Locations: Indonesia
Coal, nickel, palm oil, rainforests. The new government’s approach on the management of its natural resources could have a significant effect on the world’s ability to keep global warming to relatively safe levels. Environmentalists are also watching what the vote might mean for their ability to operate freely in a country with a history of repression. Indonesia is the world’s largest exporter of coal, the dirtiest fossil fuel and something that the world must quickly stop burning in order to avoid the worst consequences of global warming. But Indonesia also has huge reserves of nickel, which is critical to battery-making and the transition to cleaner energy.
Persons: Prabowo Locations: Indonesia
CNN —A former army general is on course to win Indonesia’s election, securing the majority of votes needed for an outright victory, early unofficial results showed. Popular former governor Anies Beswadan was running second with fewer than 22% of the votes, with rival Ganjar Pranowo in third, according to the unofficial early count. CNN cannot independently verify the early polls, though counts by reputable thinktanks have proved accurate during previous elections. Indonesia is the world’s fourth most populous country and home to the world’s largest Muslim population. More than 200 million people across 38 provinces were expected to cast their votes on Wednesday, in what was billed as the world’s biggest single-day election.
Persons: CNN —, Prabowo Subianto, Anies Beswadan, Ganjar Pranowo, Joko Widodo, Jokowi’s, Gibran Rakabuming Raka Organizations: CNN Locations: Indonesia, United States
Presidential candidate and former Jakarta governor Anies Baswedan, vice presidential candidate Muhaimin Iskandar, presidential candidate and Indonesia's Defence Minister Prabowo Subianto, vice presidential candidate Gibran Rakabuming Raka, presidential candidate and former Central Java governor Ganjar Pranowo and vice presidential candidate Mahfud MD (from left to right) react on the stage during the last presidential election debate at the Jakarta Convention Center in Jakarta on February 4, 2024. More than 200 million voters in Indonesia are heading to more than 800,000 polling stations in the world's third-largest democracy on Wednesday to elect President Joko Widodo's successor, a new national House of Representatives and various local legislators. Widodo, also popularly known as Jokowi, beat Probowo in the last two presidential elections. Some of the latest opinion polls showed Probowo netting more than 50% of the vote against two other opponents. Voters have six hours to cast their five ballots for their preferred presidential and vice presidential pairing, as well as legislators at the national, provincial and regency level, along with a regional senator for the national parliament.
Persons: Anies Baswedan, Muhaimin Iskandar, Prabowo Subianto, Gibran Rakabuming Raka, Ganjar Pranowo, Mahfud, Joko Widodo's, Probowo Subianto, general's, Widodo, Probowo, It's, Richard Borsuk Organizations: Indonesia's Defence, Central Java, Jakarta Convention, of, Defense, Nanyang Technological, Rajaratnam, of International Studies, CNBC, Gerindra Party Locations: Jakarta, Indonesia, Nusantara
By Ananda TeresiaJAKARTA (Reuters) - Indonesia's presumed new president Prabowo Subianto paid tribute to the nation's past leaders during a triumphant victory speech on Wednesday, joking about his close ties to his ex-father-in-law and former authoritarian ruler, Suharto. Addressing a sea of jubilant fans, the 72-year-old waxed lyrical about being carried in the arms of the nation's founder Sukarno, and offered gags about massaging former leader Abdurrahman Wahid and lunching with Suharto, Indonesia's second president. "Regarding the second president, I know him quite well," he said as the crowd at the Senayan sports stadium roared. With the second president, I often had lunch with him." Suharto, Indonesia's late strongman president, oversaw decades of repressive rule and one of the world's most corrupt regimes before being forced to step down during mass protests and an economic crisis in 1998.
Persons: Ananda Teresia, Prabowo Subianto, Suharto, Sukarno, Abdurrahman Wahid, lunching, Indonesia's, Prabowo, Titiek Suharto, Gibran Rakabuming Raka, Gibran, Ida Yayan, Muhammad Luth, Joko Widodo, Kate Lamb, Nick Macfie Organizations: Ananda Locations: Ananda Teresia JAKARTA, illiberalism, Jakarta
CNBC Daily Open: Lingering inflation problem
  + stars: | 2024-02-14 | by ( Sumathi Bala | )   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets declineAsia markets largely fell on Wednesday tracking Wall Street's sell-off overnight after U.S. inflation data came in hotter-than-expected in January. Sony tops estimatesSony 's quarterly revenue topped estimates, getting a boost from its PlayStation gaming business and financial services unit. [PRO] Japan's bull caseJapan is fast emerging on investors' radar, and this has been reflected in the stock market's recent bull run.
Persons: Russell, Joko Widodo, Prabowo Subianto, Cryptocurrencies, Bitcoin, Jurrien, Morgan Stanley Organizations: CNBC, Dow, Nasdaq, Sony, PlayStation, Defense, Metrics, Fidelity Investments Locations: Asia, U.S, Indonesia, Japan
Photographer: Dimas Ardian/Bloomberg via Getty ImagesIndonesian tech giant GoTo on Tuesday denied it is in merger discussions with Singapore-based ride-hailing rival Grab . "The company would also like to emphasize that currently, the company is not having any discussion on such matters," said GoTo in a Tuesday filing. "The company would like to emphasize that the company has an increasingly strong fundamentals and financial position," said GoTo. The firm added that it has achieved "positive adjusted EBITDA target in Q4 2023, while exceeding the top end of its full year adjusted EBITDA guidance range." Grab closed 1.2% lower on the Nasdaq on Tuesday amid a broader sell-off in U.S. markets.
Persons: Indonesia's GoTo, Dimas Ardian, GoTo Organizations: ByteDance, Indonesia's, Bloomberg, Getty, Nasdaq Locations: Jakarta, Indonesia, Singapore, U.S
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