Indonesia Financial News

VinFast Auto is setting up an electric vehicle (EV) and battery manufacturing facility at Thoothukudi, near Chennai, which will have the capacity to produce 150,000 EVs in the first phase, a person aware of the developments told ET. The total investment in the 400-acre facility could eventually touch as much as $1 billion or even more, the person said, adding that VinFast is likely to make an official announcement on Saturday.

Godrej Consumer Products Limited on 5 January announced that its organic business delivered steady underlying volume growth of mid-single digit in the quarter ended December 30, 2023. Apart from this, the firm said growth was broad-based across both Home Care and Personal Care. The firm in a regulatory announcement said that Park Avenue and KamaSutra brands, owned by it, continue to perform well and are on track to achieve the full-year ambition.

Godrej Consumer Products on Friday provided a quarterly update wherein it has said that the reported volume growth in India continues to be double digit for the quarter ended on December 31, 2023. The FMCG giant also stated that the operating environment continues to remain similar to the second quarter.

By Devayani Sathyan

₹20 a kg in the local market after paying ₹45 for crops, packing, labour, stuffing, transport freight, clearance charges, and sea freight. Around ₹25 per kg losses are faced by the exporters for each container," he said. Exporters also suffered heavy losses at the Bangladesh border.

The Ethereum Foundation has announced that Devcon 7, the Ethereum developer conference, will be hosted in Bangkok, Thailand, from November 12 to 15, 2024. The decision reflects an expansion of the event’s vision, with a focus on embracing the entire Southeast Asia region as the stage for the community gathering.

₹20 a kg in the local market after paying ₹45 for crops, packing, labour, stuffing, transport freight, clearance charges, and sea freight. Around ₹25 per kg losses are faced by the exporters for each container," he said. Exporters also suffered heavy losses at the Bangladesh border.

Indonesia has launched a new five-year multiple-entry visa for tourists and visitors on business. The Directorate General of Immigration announcing the launch, said that the extended validity will make travel to Indonesia more affordable. Under the new visa, holders can stay in Indonesia for up to 60 days per visit. However, the announcement did not specify the time frame within which the 60 days must be used. The visa fee for this five-year multiple-entry option is set at $972 (IDR 15,000,000), and payment is required to be made online. Holders of this visa will have the flexibility to explore the country, visit family and friends, and participate in events and meetings. The Immigration department of Indonesia has underscored that the new visa is explicitly intended for tourism and business purposes, and holders are not permitted to work for local employers while in Indonesia. Those seeking to work or stay for an extended period must apply for an alternative visa category. Authorities have also warned that failure to adhere to the visa rules may result in fines, deportation, or legal charges.

Afghanistan's Fayzabad experienced seismic activity on January 3, with two earthquakes shaking the region, as reported by the National Centre for Seismology (NCS). The initial quake occurred at 00:28:52 IST, registering a magnitude of 4.4 at a depth of 80 km. It was located 126 km east of Fayzabad.

telecom tariffs are amongst the lowest in the world as a percentage of per capita gross national income (GNIpc), and the country's telcos have enough headroom to raise prices by at least 1.5x over the next 4-5 years, industry executives and analysts said. GNIpc is the dollar-value of a country's final income in a year divided by its population.

The elections year: 2024 is going to be the year of elections. An estimated number of over 4.1 billion people out of the total global population of over 8 billion are living in countries that will go to polls in 2024. According to Bloomberg, countries that contribute 80% of the world market cap and 60% of global GDP will be voting.

India recorded a trade deficit with nine of its top ten trade partners in the first seven months of 2023-24, with the US being the only country with which exports exceeded imports. India's trade surplus with the US — its largest trading partner — was $19.59 billion in the April-October period, show data from the commerce and industry ministry. However, with China, the second largest partner, the deficit was a whopping $51.11 billion, followed by a $33.56 billion gap with Russia, the fourth largest trade partner of India.

Earthquake of magnitude 6.2 jolts Indonesia's Irian Jaya An earthquake of magnitude 6.7 killed at least 15 people, and damaged houses and buildings in the coastal Guayas region. A strong earthquake struck Morocco in September 2023. The Al Haouz earthquake, named after the Moroccan province most impacted by the shaking, occurred on September 8 with violent tremors near its epicentre and very strong ones in the city of Marrakesh.

organisations have so far confirmed to be partners for the upcoming Vibrant Gujarat Global Summit (VGGS) 2024, the state government said on Saturday. The 10th edition of VGGS, based on the 'Gateway to the Future' theme, will be organised in Gandhinagar from January 10 to 12.

India has banned ByteDance-owned TikTok and several other Chinese apps, there is one company based there that’s very active in the country — BabyBus. Experts have raised questions over the handling of Indians’ data by the company that provides customised free digital content primarily for children up to age eight through over 200 gaming apps.

Indonesian authorities crack down on ten Bitcoin (BTC) mining sites for stealing energy from the national grid to power mining operations in the country.

The Indonesian government has announced that all cryptocurrency exchanges operating within the country will be required to register with the newly established Commodity Future Exchange (CFX).

Aceh province. The Indonesian navy said a coast guard vessel detected a boat carrying Rohingya refugees entering Indonesia's waters on Wednesday. A helicopter from a navy ship subsequently spotted a wooden vessel nearing Weh island in north Aceh province.

A smelting furnace has exploded at a Chinese-owned nickel plant on Indonesia’s Sulawesi island, killing at least 13 workers and injuring dozens of others

The death toll following the explosion of a smelting furnace at a Chinese-owned nickel plant on Indonesia’s Sulawesi island has risen to 18

El Nino & Food Production The El Nino weather phenomenon, which brought dryness to large parts of Asia this year, is forecast to continue in the first half of 2024, putting at risk supplies of rice, wheat, palm oil and other farm products in some of the world's top agricultural exporters and importers. Traders and officials expect Asian rice production in the first half of 2024 to drop as dry planting conditions and shrinking reservoirs are likely to cut yields.