Indonesia Financial News

Indonesian authorities have seeded clouds in a bid to prevent further rainfall after flash floods that hit the country's Sumatra Island over the weekend left at least 59 people dead

palm oil imports registered a 34.11 per cent jump on-year in April to 6,84,000 tonnes, buoyed by a fall in global prices, the Solvent Extractors' Association of India (SEA) said on Tuesday. Palm oil accounted for 52 per cent of India's total edible oil imports of 13,04,409 tonnes in April, the trade body said in a statement, adding that sunflower and soybean oils import stood at 6,20,315 tonnes. Including non-edible oils, overall vegetable oil imports rose 26 per cent in April to 13,18,528 tonnes compared to 10,50,189 tonnes a year ago, it said. Bearish global prices encouraged higher imports of refined, bleached and deodorized (RBD) palmolein and crude palm oil (CPO), which declined by nearly USD 100 a tonne last month, SEA said.

Fans of Korean pop bands around the world are increasingly channeling their millions-strong online community into climate and environmental activism

flash floods and cold lava flow on Indonesia's Sumatra island over the weekend killed at least 50 people and left another 27 missing, the country's disaster agency said. Hours of heavy rain caused large volcanic rocks to roll down one of Indonesia's most active volcanos into two of the worst-hit districts on Sumatra island Saturday evening while flooding inundated roads, homes and mosques.

Suzuki Motor Corp expects car sales in India to grow 2% in the ongoing financial year and its local subsidiary, Maruti Suzuki, to perform better than the market, helping it recover lost market share in the country.

Mint’s Plain Facts section brings out an update on key global economic data to thread together the biggest developments in the world that are worth paying attention to. The accompanying analysis and charts explain how each story is creating ripples on the global stage, where it is headed in the coming weeks, and whether it can impact India. This time, we explain how monetary policies have diverged around the world and why the debt situation has become a reminder of the Napoleonic Wars.

ASEAN — will hold the next round of talks in July to review the existing free trade agreement in Jakarta, Indonesia, an official statement said on Sunday. The last round of the three-day negotiations concluded on May 9 in Putrajaya, Malaysia. The discussions for review of AITIGA (Asean-India Trade in Goods Agreement) started in May 2023 to make it more trade-facilitative and beneficial for businesses across the region, the commerce ministry said. A joint committee, which is undertaking the review work, has so far met four times.

India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022. Just a decade ago, Indian GDP was the eleventh largest in the world. Currently, India's GDP is estimated to be around USD 3.7 trillion.

Tim Cook and Satya Nadella, who last month embarked on their biggest tours across Southeast Asia in years. The investments they pledged are set to help turn the region into a major battleground between the likes of Amazon, Microsoft and Google in future frontiers such as artificial intelligence and the cloud. The region’s growing workforce is making it a viable alternative to China as a center of talent to support companies’ global operations.

Eduard Jubany Tur, the founder of ZKX, a decentralized perpetual futures exchange on Starknet, sat down for an exclusive interview with Cryptonews Podcast.

Mint looks at the issue and analyses what it could mean for the $4-billion export sector. On 5 April, Hong Kong’s food regulator suspended the sale of MDH spice mixes saying they contain high levels of ethylene oxide, a carcinogenic. Singapore followed suit with Everest, another top Indian spice brand.

Democracy Perception Index revealed a striking sentiment among Indians, with nearly 75% expressing concern that global corporations pose a threat to democracy. As per the survey findings, after economic inequality and corruption, global corporations are viewed as the third most significant threat to democracy. The US also stands out as among the countries with the highest levels of the perceived threat from global corporations. India is also ranked top among countries fearing that big tech companies like Google, Amazon and Meta threaten democracy.

AstraZeneca, after the drugmaker initiated a worldwide withdrawal of its COVID-19 vaccine, while investors awaited the Bank of England's interest rate verdict. By 07:07 GMT, the blue-chip FTSE 100 edged up 0.4% at 8,345.31 to climb another all-time peak. Also Read | ITC, HDFC Bank, Paytm among 300 BSE 500 stocks that are over 10% below their 52-week highs.

tourist arrivals, Sri Lanka has renewed visa-free entry for visitors from India and six other select countries, aiming to make travel more accessible and convenient for international tourists. The countries included in this initiative are India, China, Russia, Japan, Malaysia, Thailand, and Indonesia, allowing their nationals to visit Sri Lanka for up to 30 days without visa fees. The Sri Lankan government's decision comes as part of efforts to rebuild the tourism industry, which has faced significant challenges due to the COVID-19 pandemic and the country's ongoing economic and political crises. The visa-free entry scheme, launched in October as a pilot project, reflects Sri Lanka's commitment to promoting tourism and creating seamless travel experiences for visitors from key markets. Although the visa-free entry allows visitors from the select countries to stay in Sri Lanka for 30 days, they are required to apply for their visa online through the website www.srilankaevisa.lk before their arrival. This online application process is designed to ensure smooth processing while maintaining security checks for incoming tourists.

₹1,349.65 apiece on the BSE Tuesday after the company’ fourth quarter earnings beat analysts’ estimates. The FMCG major Godrej Consumer Products posted a net loss of ₹1,893 crore in Q4FY24 as against a net profit of ₹452 crore in the year-ago period. The company had incurred a one-time exceptional loss of ₹2,376 crore during the March quarter due to reorganisation of Africa business.

Godrej Consumer Products (GCPL) on Monday reported a consolidated net loss of Rs 1,893 crore for the quarter ended March 31, 2024, versus net profit of Rs 452.14 crore in the year-ago period. The company also declared an interim dividend of Rs 10 per share for the financial year 2024-25 and the record date for ascertaining the names of the shareholders who will be entitled to receive the said dividend is Tuesday, May 14, 2024. The dividend will be paid on or before Wednesday, June 5, 2024.

As 94 Lok Sabha seats go to polls on Tuesday in the third phase of the ongoing elections, voter turnout will again be under scrutiny. The election season has had a disappointing start, with overall turnout in the first two phases lower than it was in 2019. This trend has sparked concerns over whether Indian voters are less inclined to cast their ballots amid the scorching summer heat.

Mount Ruang volcano put on a spectacular show Tuesday, sending hot gas and debris high into the sky as an intense lightning show raged overhead.Like a scene from Lord of the Rings‘ fictional Mordor, footage released by BNPB Indonesia shows a continuous cascade of lightning in a toxic ash cloud over the volcano’s crater, as the sky above glows red and lights up with huge flashes.Thousands of people have been forced to evacuate the island where the volcano is located, Reuters reports, and officials warned residents of nearby Tagulandang island that a tsunami could be triggered by volcanic materials falling into the ocean.This is the second time in two weeks Mount Ruang has erupted, spewing ash almost two kilometres into the sky, closing an airport and showering nearby villages with debris.So far, there have been no reports of injuries or deaths associated with any of the eruptions.

Hindustan Times reported. Also Read | Apple share price jumps 6% as Q2 earnings, forecast beat estimates; unveils record $110 billion share buyback Speaking about the Apple's iPhone manufacturing in India, Hindustan Times reported that Tim Cook emphasised the strategic importance of local production for maintaining competitiveness.

For one day, workers ruled the world’s biggest streets.

Microsoft CEO Satya Nadella says the company will invest $2.2 billion over the next four years in new cloud and artificial intelligence infrastructure in Malaysia