Tag: Business
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New bans to be introduced in Bali as Indonesia agree to a moratorium on development
The Indonesian Government has agreed to bring in tough new bans to some areas of Bali as the international tourist mecca grapples with overdevelopment of the island. Co-ordinating Ministry of Maritime and Investment Affairs senior official Hermin Esti told Reuters the government had agreed to temporarily ban the development of hotels, villas and nightclubs in…
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TikTok to invest $1.5 billion in GoTo’s Indonesia e-commerce business
TikTok’s logo is displayed on a mobile phone screen in Ankara, Turkiye on December 5, 2023. Didem Mente | Anadolu | Getty Images TikTok will take a controlling stake in an e-commerce unit of Indonesia’s biggest tech firm PT GoTo Gojek Tokopedia, a partnership that will see the short video app invest $1.5 billion over the long term, the two…
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Global rice markets are in crisis amid ‘artificial’ shortage
Rice is a crucial staple for over half the global population and the world is bracing for its most significant shortage in 20 years. India’s export ban on rice is reverberating through global rice markets, threatening food security if developing nations cannot afford or access rice. “The only shortage out there right now would really…
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5 things to know before the stock market opens Tuesday, September 5
Here are the most important news items that investors need to start their trading day: 1. Stocks slip Stock futures were slightly lower Tuesday to start the trading week. Futures tied to the Dow Jones Industrial Average were down 8 points, or less than 0.1%. S&P 500 futures slid 0.1%, while Nasdaq 100 futures fell 0.3%. Those moves come after…
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ASEAN moves closer to economic unity with new regional payments system
Indonesian President Joko Widodo makes a speech during the Association of Southeast Asian Nations (ASEAN) Foreign Minister’s Meeting in Jakarta, Indonesia on July 14, 2023. Murat Gok | Anadolu Agency | Getty Images A new regional cross-border payment system recently implemented by Southeast Asian nations could deepen financial integration among participants, bringing the ASEAN bloc…
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Electric car sales surged by 55% in 2022 to hit over 10 million: IEA
Electric vehicles from Tesla photographed in China. The world’s second largest economy is a major player when it comes to the sale of electric vehicles. Vcg | Visual China Group | Getty Images Electric car sales jumped to more than 10 million last year, with China accounting for roughly 60% of the market, according to…
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Malaysia pledges to invest in Indonesia’s new capital
BOGOR, Indonesia (AP) — Malaysian Prime Minister Anwar Ibrahim said Monday his country would invest in the development of Indonesia’s new capital on Borneo island, which both nations share. Anwar made his first overseas trip to Jakarta since taking office in November, saying at least 10 Malaysian companies have committed to invest in Nusantara, the…