Indonesia Financial News

Pollution is causing respiratory illnesses and deaths to rise in Indonesia's island of Java, including the capital, Jakarta

WTO grouping with a major interest in farm trade that it will not discuss any new issue in the agriculture segment like imposition of export restrictions before a permanent solution is found with regard to public stockholding of food grains, an official said. This position was cleared during a mini-ministerial virtual meeting of about 28 WTO (World Trade Organisation) member countries on agriculture issues on November 28. In the meeting, Commerce and Industry Minister Piyush Goyal put forward New Delhi's approach to the issue saying that public procurement and stockholding of food grains serve the twin objectives of food security and income support to marginal farmers.

BSE) achieved a historic milestone, surpassing a record of $4 trillion for the first time in today's trade. Indian stocks began today's session on a positive note following dovish statements from U.S. Fed Official Christopher Waller.

Zipmex has put forward a new proposal to repay creditors, initially offering 3.35 cents for each dollar of their claims as part of its restructuring efforts, according to Bloomberg.

Malaysia's government says more than 120 suspected victims of job scams have been rescued after being stranded by fighting in northern Myanmar between the military and armed ethnic groups

By Anisha Sircar

rupee closed slightly higher on Tuesday, supported by foreign banks' dollar sales and softness in the greenback, which is hovering close to 3-month lows. The rupee ended at 83.3325 against the U.S. dollar, compared with its previous close at 83.3675. Asian currencies also rose, led by the Korean won and Indonesian rupiah which were up nearly 0.8% and 0.4%, respectively. While equity-related inflows and a weaker dollar are marginally supportive for the rupee, the currency continues to lack any directional momentum, said Dilip Parmar, a foreign exchange research analyst at HDFC Securities. Equity inflows worth $1.5 billion are expected this week following MSCI's decision to increase India's weight in its Emerging Market index effective from Nov.

Crypto exchange Zipmex Thailand has announced the immediate suspension of digital asset trading until early next year. 

S&P Global Ratings on Monday raised India’s growth forecast for the current financial year to 6.4 per cent, from 6 per cent, saying that robust domestic momentum has offset headwinds from high food inflation and weak exports. The US-based rating agency, however, has cut growth estimates for the next fiscal (2024-25) to 6.4 per cent, as it expects growth to slow in the second half (October-March) of the current fiscal, on higher base impact and subdued global growth. “We have revised up our projection for India’s GDP growth for fiscal 2024 (ending in March 2024) to 6.4 per cent, from 6 per cent, as robust domestic momentum seems to have offset headwinds from high food inflation and weak exports.

Read here: Exit polls, GDP data, F&O expiry, auto sales to guide market direction this week The agency also noted that GDP exceeded the 2019 level by 15.5 percent in India in the first half of the current fiscal. Also, fixed investment has recovered considerably more than private consumer spending, it added. S&P also believes that it will take some time for India's interest rate cycle to turn as the headline inflation still remains above the RBI's target of 4 percent.

Think-tank GTRI on Sunday suggested that the government study the bilateral free trade agreement with Singapore and as part of the Asean bloc together while reviewing its trade pact with the 10-nation grouping.Singapore is a member of 10-nation Asean bloc with which India has a free trade agreement in goods since 2010. Separately, India also implemented a comprehensive free trade agreement (FTA) with Singapore in 2005.The Global Trade Research Initiative (GTRI) also suggested a similar exercise with Thailand, another member of Association of Southeast Asian Nations (Asean). India signed a limited free trade pact with Thailand in 2006.

China and the United States exchanged accusations at the weekend over the disputed South China Sea, after China's military said it had driven away a U.S. warship that the U.S.

UN Office for the Coordination of Humanitarian Affairs (OCHA) said that on the first day of the humanitarian pause in hostilities, the world body was able to scale up the delivery of humanitarian assistance into and across Gaza, Xinhua news agency reported. It said 200 trucks were dispatched to the Rafah crossing and 137 reached the UN Agency for Palestine Refugees (UNRWA), where they were offloaded, making it the biggest humanitarian convoy received since the outbreak of the Hamas-Israel war on October 7. Some 129,000 litres of fuel and four trucks of gas also crossed into Gaza. Twenty-one critical patients were evacuated in a large-scale medical operation from the north of Gaza, it said. Hundreds of thousands of people were assisted with food, water, medical supplies and other essential humanitarian items.

Satwiksairaj Rankireddy and Chirag Shetty stormed into the men's doubles semifinal at the China Masters Super 750 badminton tournament here on Friday. Top seeds Satwik and Chirag dished out an attacking game to outwit world no. 13 Leo Rolly Carnando and Daniel Marthin of Indonesia 21-16 21-14 in 46 minutes.

forces withdrew from Gaza's largest hospital Al-Shifa on Friday, the Hamas-run health ministry said, on the first day of a temporary truce between Israel and the Palestinian militants. The Israeli military raided Al-Shifa last week, targeting what it said was a Hamas command centre in a tunnel complex beneath the medical facility.

Singapore-based Crypto-fiat payment solution, Alchemy Pay, announced further expansion into the U.S. market through their acquisition of a Money Services License in Iowa on Thursday morning.

Bloomberg. Citing people familiar with the matter, the report said that the discussions also involve the two companies jointly building a new e-commerce platform.

rising prices and as refiners face negative margins after making heavy imports in the past few months, industry officials told Reuters on Thursday. Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures which are trading near their highest in level in two months. «Traders are attempting to liquidate stocks accumulated at ports due to aggressive imports in recent months,» Rajesh Patel, managing partner at edible oil trader and broker GGN Research told Reuters. «Currently, there's no import parity. Older imported stocks are being offered at lower prices compared to the price of new shipments.» The landed cost of crude palm oil for December shipments on the west coast without import taxes is 77,500 rupees per metric ton, whereas already imported oil is being offered at 76,500 rupees, traders said. Higher imports during July to September lifted vegetable oil stocks in India to 3.3 million tons on Nov.

Unicommerce saw its operating revenue jump 52.5% to Rs 90 crore in financial year 2023 from Rs 59 crore in FY22. Net profit rose 8% to Rs 6.45 crore from Rs 5.98 crore in FY22, according to its financial statements, filed with the Registrar of Companies (RoC). Unicommerce’s expenses ballooned to Rs 84.1 crore in FY23 from 54.4 crore in FY22. A significant amount of the expenditure was attributed to an increase in employee benefit expenses, server costs and other expenses.

Molucca Sea on Wednesday morning, the National Centre for Seismology (NCS) said in a statement. According to NCS, the earthquake occurred at 08:18 am today at a depth of 110 Km. «Earthquake of Magnitude:6.0, Occurred on 22-11-2023, 08:18:54 IST, Lat: 1.76 & Long: 127.10, Depth: 110 Km ,Location: Molucca Sea» NCS said in a post on X. Further details are awaited. Earlier this year, an earthquake of magnitude 6.0 hit the northern part of Molucca Sea on April 21 at 3:51 pm (local time, the National Center for Seismology (NCS) said. According to NCS, the earthquake struck at a depth of 72 kms.

Karnataka government has decided to procure 2.5 lakh metric tonnes of imported coal at $86 per tonne, state Additional Chief Secretary (Energy Department) Gaurav Gupta said on Tuesday. Gupta said a decision to this effect was taken by the Karnataka Power Corporation Limited (KPCL). Accordingly, a work order has been issued but supply is yet to start.