DIRS.INFO The most relevant business & tech news

☆ Central banks of Indonesia and Singapore start trial on cross-border QR code payments
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: 1 min

JAKARTA, Aug 17 (Reuters) - Indonesia's central bank said on Thursday it had started a trial of cross-border QR code payments with its Singaporean counterpart. Both have set a target of introducing the system in the second half of this year, according to an earlier statement from Singapore's central bank. Reporting by Stefanno Sulaiman; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Stefanno Sulaiman, Martin Petty Organizations: Thomson Locations: JAKARTA

☆ Indonesia upper house speaker says 'important' to discuss means to delay elections
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

A worker walks on the roof of Indonesian Parliament Building in Jakarta, Indonesia, December 5, 2022. REUTERS/Willy Kurniawan/File Photo Acquire Licensing RightsJAKARTA, Aug 16 (Reuters) - The speaker of Indonesia's upper house of parliament said on Wednesday it was important for the country to discuss the means to delay elections in times of natural disasters, wars, or pandemics. Indonesia, the world's third-largest democracy, must hold national elections every five years, with the next vote scheduled for Feb. 14. Indonesia currently has no framework to delay an election and some politicians have called for the constitution to be amended to allow a postponement. "How do we hold elections in the case of unexpected events occurring, like big natural disasters, wars, revolts, or pandemics," Bambang Soesatyo, the upper house speaker, said in an annual address ahead of Indonesia's Independence Day.

Persons: Willy Kurniawan, Bambang Soesatyo, Bambang, Joko Widodo, Stefanno Sulaiman, Gayatri Suroyo, Stanley Widianto, Martin Petty Organizations: REUTERS, Rights, Thomson Locations: Jakarta, Indonesia, Rights JAKARTA

☆ Indonesia's GoTo narrows losses, says on track for profitability
▼ + stars: | 2023-08-15 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +2 min

JAKARTA, Aug 15 (Reuters) - Indonesia's biggest tech firm GoTo (GOTO.JK) on Tuesday said it had slashed underlying losses in the second quarter to 1.2 trillion rupiah ($78.25 million), down from 4.3 trillion rupiah a year earlier, helped by intense cost-cutting measures. Following positive results for the first half, GoTo revised its 2023 adjusted EBITDA outlook to a loss of between 4.5 trillion rupiah and 3.8 trillion rupiah, from a previously forecast loss of between 5.3 trillion rupiah and 4.6 trillion rupiah. Net revenues for the second quarter of 2023 rose to 3.6 trillion rupiah, up 86.7% from 2022, with the company's overall gross transaction value for the period reaching 143.7 trillion rupiah, it said. The company said it had slashed losses by 48% for the first half compared to a year earlier. Shares in GoTo, shorthand for GoTo Gojek Tokopedia, closed up 6.59% to 97 rupiah per share before the earnings announcement.

Persons: GoTo, Japan's, Patrick Walujo, Walujo, Tokopedia, TikTok, GoTo Gojek Tokopedia, Stefanno Sulaiman, Fanny Potkin, Conor Humphries Organizations: Japan's SoftBank, Thomson Locations: JAKARTA

☆ Indonesia gives automakers more time to qualify for EV credits in investment bid
▼ + stars: | 2023-08-10 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +3 min

[1/5] A worker stands near a Mini Cooper Electric car, that is displayed during the Gaikindo Indonesia International Auto Show in Tangerang, near Jakarta, Indonesia, August 10, 2023. REUTERS/Willy KurniawanTANGERANG, Indonesia, Aug 10 (Reuters) - Indonesia said on Thursday it would give automakers two more years to qualify for electric vehicle incentives in Southeast Asia's largest auto market, a move followed by investment commitments by China's Neta EV brand and Mitsubishi Motors. The moves announced at the Jakarta auto show come as Indonesia races Thailand and India to build out an EV industry as an alternative to China, the world’s largest producer. Indonesia is Southeast Asia’s largest auto market and its second-largest production hub behind Thailand. Until now, only two manufacturers have shifted enough production to Indonesia to qualify for full incentives: Wuling Motors (0305.HK) and Hyundai (005380.KS).

Persons: Willy Kurniawan TANGERANG, Agus Gumiwang Kartasasmita, ” Agus, Wuling, Hiroyuki Ueda, Stefanno Sulaiman, Kevin Krolicki, Conor Humphries Organizations: Cooper, REUTERS, China's, Mitsubishi Motors, Toyota, Daihatsu, Honda, Mitsubishi, New Energy Automobile, Wuling Motors, HK, Hyundai, Wuling, Air EV, Reuters, Gaikindo, Auto Show, Astra Motor, PT Astra International, Thomson Locations: Indonesia, Tangerang, Jakarta, Thailand, India, China, Southeast, Neta, Gaikindo Indonesia

☆ China's Hozon to start selling Neta EVs in Indonesia from Q4
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +2 min

The company also plans to start localized assembly and production for its products in Indonesia from the second quarter of 2024, it said. Wang Chengjie, president director of PT NETA Auto Indonesia, said the local assembly plant will have a production capacity of 30,000 units annually. Hozon, which exported 6,970 cars in the first half of this year, has been selling its Neta EVs to Southeast Asian countries including Thailand, Myanmar and Nepal. It is building its first overseas plant in Thailand and aims to start production there in January 2024. Hozon's Neta V was the second best-selling EV in Southeast Asia in the first quarter, following BYD's Atto 3, according to research firm Counterpoint.

Persons: Tingshu Wang TANGERANG, Hozon Auto, Wang Chengjie, Hozon's Neta, Stefanno Sulaiman, Zhang Yan, Kim Coghill Organizations: Beijing International Automotive, Auto, REUTERS, Hozon, Gaikindo, PT NETA Auto, Thomson Locations: Auto China, Beijing, China, Indonesia, SHANGHAI, Southeast Asia, Gaikindo Indonesia, Hozon, Thailand, Myanmar, Nepal, Jakarta, Shanghai

☆ Indonesia delays China-funded rail project's trial run for passengers
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

An electric Multiple Unit high-speed train is seen during Hot Sliding Test in Tegalluar, Bandung, West Java province, Indonesia, May 19, 2023, in this photo taken by Antara Foto. A free, limited trial run for passengers, initially set for Aug. 18, has been postponed to early September, but no delay is expected to the full operational launch on Oct. 1, KCIC said on Tuesday. Safety checks were ongoing as of last Friday, according to transport ministry official Mohamad Risal Wasal. KCIC said internal trials had gone smoothly but the company was still working with the transport ministry on necessary operational certificates. Reporting by Stefanno Sulaiman; Editing by Gayatri Suroyo, Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Persons: Antara, Al Farisi, KCIC, Mohamad Risal Wasal, Xi Jinping, Joko Widodo, Stefanno Sulaiman, Gayatri Suroyo, Kanupriya Kapoor Organizations: Initiative, Thomson Locations: Tegalluar, Bandung, West Java, Indonesia, JAKARTA, China, Indonesian, Jakarta

On a quarterly, non-seasonally adjusted basis, GDP expanded 3.86%, compared with the poll's prediction of 3.72% growth. Meanwhile, exports contracted 2.75% in the second quarter on a yearly basis, in stark contrast to last quarter's growth of more than 10%. Myrdal Gunarto, economist with Maybank Indonesia, said he might raise his bank's full-year 2023 GDP growth outlook of 5.05%, but described the second quarter data as "a sign that economic activities had peaked". The better-than-expected data may spur monetary policymakers to shift their focus from growth to the current account, as strong domestic demand typically leads to rising imports, said Fakhrul Fulvian, economist with Trimegah Securities, who maintained his full-year 2023 GDP growth outlook at 5%. The government is targeting the same growth rate for 2023.

Persons: Eid, Joko Widodo's, Myrdal Gunarto, Myrdal, Fakhrul Fulvian, Radhika Rao, Stefanno Sulaiman, Fransiska Nangoy, Gayatri Suroyo, Martin Petty, Sonali Paul Organizations: Asia's, Statistics, Reuters, Maybank, Trimegah Securities, U.S ., Bank, DBS Bank, Thomson Locations: JAKARTA, Statistics Indonesia, Maybank Indonesia, Indonesia, Bank Indonesia

☆ Exclusive: TikTok in talks to gain Indonesian payments licence
▼ + stars: | 2023-08-04 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +3 min

A spokesperson for TikTok confirmed on Friday that the talks were taking place, adding that an Indonesian payments licence would help local creators and sellers on its platform. A representative for the central bank, Bank Indonesia, did not respond to a request for comment. A payments licence would enable TikTok to benefit from transaction fees and put it more directly in competition with Southeast Asian e-commerce giants, Sea's (SE.N) Shopee and Alibaba's (9988.HK) Lazada. Douyin, the Chinese counterpart to TikTok that is also owned by ByteDance, obtained a Chinese payments licence in 2020. It was not immediately clear if TikTok has obtained a payments license elsewhere in the world.

Persons: Dado Ruvic, TikTok, Shou Zi Chew, Stefanno Sulaiman, Josh Ye, Edwina Gibbs Organizations: REUTERS, Reuters, TikTok, Bank Indonesia, HK, Lazada, ByteDance, Momentum, Thomson Locations: JAKARTA, Indonesia, U.S, Southeast Asia, Europe, TikTok, China, United States, Montana, Australia, Canada, Hong Kong

REUTERS/Jorge SilvaBANGKOK/NEW DELHI, July 17 (Reuters) - Indian tourists are streaming into Southeast Asia, cementing the world most populous country's position as a key growth market for a travel and tourism sector that is feeling the pinch of China's slower-than-expected re-opening. "Southeast Asia is obviously very well positioned for a lot of the growth that is inevitably going to come from India," aviation analyst Brendan Sobie told an industry conference last month. Tanes Petsuwan, deputy governor of the Tourism Authority of Thailand said 1.6 million Indians were expected to visit the kingdom this year. Indians are helping to sustain a post-pandemic rebound for hospitality chains, including Minor Hotels, which has 45 properties in Southeast Asia with more than 6,000 rooms. Thailand's central bank expects 29 million visitors this year and 35.5 million in 2024.

Persons: Jorge Silva, Brendan Sobie, Tanes Petsuwan, Chai Eamsiri, Chai, Vinay Malhotra, IndiGo's, Sobie, Dillip, Pratyush Tripathy, That's, Somsong Sachaphimukh, Somsong, Pasit, Stefanno Sulaiman, Neil Jerome Morales, Robert Birsel Organizations: REUTERS, Jorge Silva BANGKOK, Thai Airways, Organisation for Economic Cooperation, Reuters, Asian Development Bank, Tourism Authority, IndiGo, Airbus, Minor, Bank of, Tourism Council of, Thomson Locations: India, Thailand, Patong, Phuket, DELHI, Asia, China, Thai, Singapore, Indonesia, Southeast Asia, Jakarta, Bangkok, Kolkata, Pattaya, Europe, United States, Thailand's, Bank of Thailand, Tourism Council of Thailand, BANGKOK, JAKARTA, MANILA

☆ Indonesia seizes Iranian-flagged tanker suspected of illegal oil transshipment
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, July 11 (Reuters) - Indonesia's coast guard (Bakamla) said on Tuesday it has seized an Iranian-flagged tanker suspected of involvement in the illegal transshipment of crude oil. The vessel, MT Arman 114, was carrying 272,569 metric tons of light crude oil and was suspected of transferring the oil to another vessel without a permit, the coast guard said in a statement. Bakamla said the vessel was captured after it was spotted conducting an oil transfer to another vessel, the Cameroon-flagged MT STinos. MT Arman was also suspected of violating other maritime regulations, such as turning of its automatic identification system, sailing without a flag and operating without port clearance, Bakamla said. Reporting by Stefanno Sulaiman, Fransiska Nangoy; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Arman, Bakamla, Stefanno Sulaiman, Fransiska, Martin Petty Organizations: Thomson Locations: JAKARTA, Iranian, Cameroon

The MT Arman 114 was carrying 272,569 metric tons of light crude oil, valued at 4.6 trillion rupiah ($304 million), when it was seized last week, the Indonesian authorities said. The Very Large Crude Carrier (VLCC) was suspected of transferring oil to another vessel without a permit on Friday, the Southeast Asian nation's maritime security agency said. "MT Arman was spoofing their automatic identification system (AIS) to show its position was in the Red Sea but in reality it is here," Aan told reporters. Along with the Arman, authorities detained its Egyptian captain, 28 crew and 3 passengers, who were the family of a security officer on board, the agency said. A "shadow" fleet of tankers carrying oil from sanctioned Iran, Russia and Venezuela has been transferring cargoes in the Singapore Strait to avoid detection, a Reuters analysis showed this year.

Persons: Arman, Stefanno Sulaiman, Fransiska, Lincoln, Clarence Fernandez Organizations: Indonesia's Maritime Security Agency, AIS JAKARTA, Malaysian, Thomson Locations: Marore, Cameroon, Iranian, Indonesia's North Natuna, Iran, Russia, Venezuela, Singapore, Indonesia, Panamanian

Summary June headline inflation at 3.52% vs 3.64% in Reuters pollCore inflation at 2.58% vs 2.64% in pollSome economists forecast interest rate cut in Q3JAKARTA, July 3 (Reuters) - Indonesia's annual inflation rate in June eased to 3.52%, settling into the central bank's target range for a second straight month, data from the statistics bureau showed on Monday. Headline inflation dropped to its lowest since April 2022 and came in below the 3.64% expected in a Reuters poll and below the 4.00% seen in May. Transportation fares, food prices and rents rose in June, Pudji Ismartini, deputy head of Statistics Indonesia, said in a press conference. The core inflation rate, which strips out government-controlled and volatile food prices, eased to 2.58% in June from 2.66% a month before. The poll had expected 2.64% core inflation.

Persons: Pudji Ismartini, Fakhrul Fulvian, Radhika Rao, Stefanno Sulaiman, Fransiska, Kanupriya Kapoor Organizations: Reuters, Bank, Statistics, BI, Trimegah Securities, DBS, Thomson Locations: JAKARTA, Asia's, Statistics Indonesia

☆ Indonesia's Java escapes 6.4 magnitude quake with few casualties, light damage
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

Jakarta, June 30 (Reuters) - A magnitude 6.4 earthquake struck off the Indonesian island of Java on Friday evening, injuring at least 10 people, while one person died of suspected heart attack during the quake, the country's disaster mitigation agency (BNPB) said. The tremor caused minor damage to hundreds of houses, some offices, health and education facilities scattered in the region of Yogyakarta and Central Java province, the agency spokesperson Abdul Muhari told Reuters Saturday. Indonesia's geophysics agency (BMKG) said the quake, which hit at a depth of 25 km (15 miles), was felt in several cities in the region of Yogyakarta as well as east and central Java, Indonesia's most populous island. No tsunami warning was issued. Reporting by Jose Joseph in Bengaluru and Ananda Teresia, Stefanno Sulaiman in Jakarta; editing by Mark Heinrich & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Abdul Muhari, Jose Joseph, Ananda Teresia, Stefanno Sulaiman, Mark Heinrich, Simon Cameron, Moore Organizations: Reuters, Thomson Locations: Jakarta, Java, Yogyakarta, Central Java, Indonesia, Southeast Asia, Bengaluru, Ananda

Only Cambodia has so far officially confirmed it intended to attend the talks. Myanmar's junta spokesman could not be reached for comment on Sunday. Thailand's foreign ministry was tight-lipped about exactly who was attending the two-day gathering in the resort town of Pattaya, for which outgoing Foreign Minister Don Pramudwinai sent invitation letters just four days before its start. Cambodian Foreign Minister Prak Sokhonn was to attend the meeting, his government said in a statement on Friday. Vietnam's government said its foreign minister would not attend "due to a prior engagement".

Persons: Nobel, Aung, Myanmar's, Swe, Don Pramudwinai, Don, Prak Sokhonn, Vivian Balakrishnan, Nantiwat Samart, Suu Kyi's, Panu, Phuong Nguyen, Ananda Teresia, Stefanno Sulaiman, Poppy McPherson, Devjyot, Kay Johnson, William Mallard Organizations: Association of Southeast Asian Nations, ASEAN, Reuters, Cambodian, Nation TV, National Unity Government, Thai, Ananda, Thomson Locations: BANGKOK, Cambodia, Suu, Thailand, Pattaya, Myanmar, Indonesia, Singapore, Thai, ASEAN, Malaysia, Philippines, Bangkok, Hanoi, Kuala Lumpur, Jakarta, Shoon

☆ Japan's Isuzu says it is not planning to relocate factory from Thailand to Indonesia
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

TOKYO, June 8 (Reuters) - Japanese truck maker Isuzu Motors (7202.T) on Thursday said it was not planning to move a factory from Thailand to Indonesia, a day after the Indonesian industry minister said the company would do so. "While our company continues to focus on Indonesia as a major market, there are no plans to relocate a Thai factory to Indonesia," an Isuzu spokesperson said. Indonesian Industry Minister Agus Gumiwang Kartasasmita had said on Wednesday that Isuzu planned to move the factory and could start production as early as next year. A ministry spokesperson on Thursday did not immediately respond to a request for comment on the denial from Isuzu, which already has a factory in Karawang, Indonesia. Shares of some Thai auto parts companies sold off on Thursday after reports of the comment from the Indonesian industry minister.

Persons: Agus Gumiwang Kartasasmita, Daniel Leussink, Stefanno Sulaiman, Gerry Doyle Organizations: Isuzu Motors, Isuzu, Indonesian Industry, Thomson Locations: TOKYO, Thailand, Indonesia, Thai, Karawang, Tokyo, Jakarta

The "Dana Desa" village fund introduced by President Joko Widodo in 2015 and valued at $4.7 billion this year has long been criticised as prone to corruption. "So it's reasonable if the use of the village fund is somewhat loose and anyone can do what they want with it." ILLEGAL ARMSIt is unclear how much of the $337 million in village funds allocated for the Papua region in 2023 is being diverted into arms. "I have never seen a project funded by the village fund, not at all," said Bernadus Kobogau, a tourism official in Intan Jaya. In Papua's highlands, village funds are treated like a "revolutionary tax", he said, commandeered either via intimidation and coercion, or given willingly by supporters of independence.

Persons: Dana, Joko Widodo, Phillip Mehrtens, Ignatius Benny Ady Prabowo, Dana Desa, Faizal Ramadhani, Sebby Sambom, Bernadus Kobogau, Deka Anwar, Anwar, Latifah Anum Siregar, makan tuan, Stefanno Sulaiman, Lincoln Organizations: Reuters, Indonesia Corruption Watch, West Papua National Liberation Army, Free Papua Movement, Institute for, Democracy Alliance for Papua, Thomson Locations: JAKARTA, Indonesian, Papua, New Zealand, Jakarta, Indonesia, Nduga, Intan Jaya, Nabire

☆ Indonesia's delayed China-funded rail project beset by fresh problems
▼ + stars: | 2023-06-07 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +5 min

[1/2] An electric Multiple Unit high-speed train is seen during Hot Sliding Test in Tegalluar, Bandung, West Java province, Indonesia, May 19, 2023, in this photo taken by Antara Foto. China-backed consortium PT KCIC, Mott MacDonald, Umbra, CDB and China's embassy in Jakarta did not respond immediately to requests for comment. PT KCIC was awarded the project in 2015 after lodging a cheaper proposal than a Japanese rival, with completion expected in 2019. The planned 45-minute train ride between Jakarta and Bandung compares with a car journey of two to three hours or the current three-hour rail trip. Locating the stations in central Jakarta and Bandung would have been too costly, ministry official Seto said.

Persons: Antara, Al Farisi, Joko Widodo, Teuku Rezasyah, Mott MacDonald, Mahendra Vijaya, Hario, PwC, Sutanto Soehodho, Seto, Stefanno Sulaiman, Devjyot Ghoshal, Jamie Freed Organizations: REUTERS, Initiative, Padjadjaran University, Reuters, PT, China Development Bank, CDB, PT KCIC, KCIC, University of Indonesia, Thomson Locations: Tegalluar, Bandung, West Java, Indonesia, REUTERS JAKARTA, China, Jakarta, Indonesian, Southeast Asia's, Independence, PwC, CDB, China's

JAKARTA, May 10 (Reuters) - Sales of electric cars in Indonesia jumped last month after the government launched tax incentives, auto executives said, in an early sign that electric vehicle (EV) adoption is gaining traction in Southeast Asia's largest economy. Effective from April, Indonesia cut the value-added tax (VAT) on electric cars from 11% to just 1%, provided they are manufactured with at least 40% local content. Hyundai aims to sell 10,000 units of IONIQ 5 in Indonesia this year, helped by the tax cut and as a shortage in semiconductor chips eases, he said. The two models are the most popular electric cars in Indonesia. Hyundai's Yoon said the South Korean company plans to introduce more battery-EV models in Indonesia to capture the growing market.

JAKARTA, May 3 (Reuters) - Indonesia has cut tax incentives to limit investment in lower quality nickel products as it aims to extract as much value as possible from its rich nickel reserves and push for further downstream investment, a cabinet minister said on Wednesday. Investment Minister Bahlil Lahadalia said the government will no longer provide tax holidays for investment into NPI. "Downstreaming must at least reach 60% to 70% nickel content in Indonesia and not only for intermediate products," Bahlil said in an interview with Reuters. The International Nickel Study Group (INSG) is forecasting a surplus of 239,000 tonnes, the largest in at least a decade. Merdeka currently has capacity of 38,000 tonnes of NPI and a third smelter with 50,000 tonnes capacity is expected to start operations in the second half of the year.

[1/2] Indonesia's Investment Minister Bahlil Lahadalia gestures during an interview at his office in Jakarta, Indonesia, May 3, 2023. REUTERS/Ajeng Dinar UlfianaJAKARTA, May 3 (Reuters) - Indonesia's investment minister said on Wednesday that copper miner Freeport Indonesia must agree to sell an additional 10% stake to the government, as negotiations get underway for the U.S. company to extend its permit to operate in the country. "We ask for Freeport's 10% divestment through a state company for as cheap as possible. The $3.85 billion that Indonesia invested in the miner in 2018 via a state company has proven beneficial for the country, and the government expects to break even on that deal next year, he said. Freeport Indonesia said it produced 3 million tonnes of copper concentrate in 2022, an annual record.

JAKARTA, May 3 (Reuters) - Indonesia has cut tax incentives to limit investment in lower quality nickel products as it aims to extract as much value as possible from its rich nickel reserves and push for further downstream investment, a cabinet minister said on Wednesday. Since banning nickel ore exports in 2020, Indonesia has seen a surge in investment into smelters but most output is ferronickel or nickel pig iron (NPI), used in stainless steel, that typically only contains 30% to 40% of nickel. Investment Minister Bahlil Lahadalia said the government will no longer provide tax holidays for investment into NPI. "NPI investment can reach break even in four to five years, why would we give 10-year tax holidays? Merdeka currently has capacity of 38,000 tonnes of NPI and a third smelter with 50,000 tonnes capacity is expected to start operations in the second half of the year.

☆ Indonesia's GoTo reports narrower Q1 loss, expects core profit in Q4
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

Like many other tech companies, GoTo has been reducing its spending and laying off staff this year to ride out the global economic uncertainty. Group CEO Andre Soelistyo said in a statement the company was halfway towards becoming adjusted EBITDA positive in the fourth quarter. "A lower cost base will provide us with additional flexibility to allocate capital for the acceleration of growth in the future," GoTo Group CFO Jacky Lo said. GoTo posted a net loss of 3.9 trillion rupiah in the first three months of 2023, versus a loss of 6.6 trillion rupiah a year earlier. GoTo shares closed up 4.21% at 99 rupiah per share on Thursday before the earnings announcement.

[1/5] Muslims perform a mass prayer at a mosque during Eid al-Fitr, marking the end of the holy fasting month of Ramadan, in Kuala Lumpur, Malaysia, April 22, 2023. REUTERS/Hasnoor HussainJAKARTA, April 22 (Reuters) - Muslims in Indonesia and Malaysia gathered in large groups to usher in the Eid al-Fitr festival on Saturday, relieved to be able to celebrate freely after the lifting of most COVID-19 restrictions. "I'm very happy that we're free (of COVID curbs) now," said Laila, 35, who goes by one name like many Indonesians. In neighbouring Muslim-majority Malaysia, devotees also celebrated with families. Authorities in both countries have, however, urged the public to remain cautious amid reports of rising COVID cases.

☆ Southeast Asian finance leaders discuss containing global risks
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, March 31 (Reuters) - Talks between Southeast Asian central bank governors and finance ministers entered their final day on Friday, with the leaders focused on strengthening the region's resilience against global risks. The gathering of finance leaders from the Association of Southeast Asian Nations (ASEAN) comes amid a backdrop of recent global banking turmoil after the collapse of Silicon Valley Bank and the bailout and takeover of Credit Suisse. Indonesia's central bank governor Perry Warjiyo called on the forum to boost the use of local currencies for settlements to reduce volatility and exposure to major currencies. They also discussed cryptocurrencies and central bank digital currencies, he added. Reporting by Stefanno Sulaiman; additional reporting by Ananda Teresia in Jakarta Editing by Ed Davies, Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Southeast Asian finance leaders in talks on containing global risks
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, March 31 (Reuters) - Southeast Asian central bank governors and finance ministers are set to wrap up talks on Friday, after meeting in Bali this week for discussions often focused on how the region can remain resilient in the face of a spike in global risks. The gathering of finance leaders from the Association of Southeast Asian Nations (ASEAN) comes amid a backdrop of recent global banking turmoil after the collapse of Silicon Valley Bank and the bailout and takeover of Credit Suisse. Dody also said finance deputies discussed connecting payment systems in the region, even though the infrastructure of some ASEAN countries was not fully developed yet. They also discussed cryptocurrencies and central bank digital currencies, he said. They knew the memory of the Asian financial crisis," Philippine central bank governor Felipe Medalla told the seminar on economy resiliency.

Search resuls for: "Stefanno Sulaiman"

25 mentions found