Economy

Volkswagen plans to establish an electric vehicle (EV) battery ecosystem in Indonesia with the aim of improving the market. The German automaker will collaborate with mining company Vale, American automaker Ford, and China’s battery minerals producer Zhejiang Huayou Cobalt, according to the Investment Minister of Indonesia. The Indonesian Minister of Investment, Bahlil Lahadalia, stated in […]

A Chinese financial regulator has expressed interest in using artificial intelligence (AI) in monetary policy, after ChatGPT, an AI chatbot, triggered investment interest and promises of public support in China. Lu Lei, Deputy Head of the State Administration of Foreign Exchange (SAFE) expressed his ideas at the annual conference of the China Society for Finance

Kazuo Ueda will take over as the Governor of the Bank of Japan (BOJ) from Mr. Haruhiko Kuroda starting from April, 9, 2023. Unlike previous governors who have traditionally come from the central bank or the powerful Finance Ministry, Mr Ueda is a trained academic. The 71-year-old former professor at Kyoritsu Women’s University served on

Alibaba Group Holdings, Chinese technology,  is undergoing a major business overhaul. This grand plan regarding a business overhaul was carried out by dividing its business into six separate units. This massive restructuring comes after Jack Ma returned to China and made a rare public performance, and because China has signaled the regulatory pressure on the

ASEAN Countries Commit to Maintaining Economic Stability after having a meeting between Indonesia’s Minister of Finance and Governors of the ASEAN Central Bank (AFMGM) held collaboratively by Indonesia’s Ministry of Finance and Bank Indonesia on 31 March 2023 in Nusa Dua, Bali. Finance Ministers and Central Bank Governors from nine ASEAN countries (Brunei Darussalam, Cambodia,

Bank Indonesia (BI) provides money exchange services at 5,066 branch offices throughout Indonesia to meet the needs of the public during Ramadan and Eid. Erwin Haryono, Head of Communications at BI, said that his party is providing cash of 195 trillion for money exchange services. Compared to the previous year, this figure has increased by

China will focus on promoting new economic development by sharing market opportunities with other countries, and expanding imports of high-quality products and services. China’s deputy prime minister, Ding Xuexiang made remarks at the China Development Forum (CDF) on Sunday that China will continue to open up its markets and strengthen efforts to attract foreign investment.

China’s southern tech hub, Shenzhen, has unveiled a plan to become a live-streaming e-commerce hub “with global influence.” In an effort to boost consumption, Shenzhen plan to set an ambitious goal of achieving over 300 billion Yuan (USD 43.7 billion) in sales by 2025. Hangzhou, home to China’s biggest online shopping platform operator Alibaba Group

Bank Indonesia (BI) announced that they are finalizing a cooperation agreement on the use of local currency transactions or Local Currency Settlement (LCS), including cross-border payments with South Korea and India. With the use of the LCS, trade, investment and other transactions between Indonesia and cooperating countries can directly use the currencies of each country,

UBS is set to acquire troubled Credit Suisse for USD 3.25 billion. The plan will proceed after crisis talks on Sunday 19 March 2023 aimed to prevent Credit Suisse’s problems from triggering a wider international banking crisis. The Swiss government said that the deal between the country’s largest bank and the second-biggest lender is essential