We have selected seven stories from the SCMP’s coverage of Asia over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. Indonesia’s plan for a rival to Singapore starts to take shape Indonesia wants to build a financial centre to rival Singapore, Hong Kong or Dubai, but analysts say the real work of persuading global investors has barely begun. 2. Japan voters ‘pretty angry’ with PM...
We have put together stories from our coverage last weekend to help you stay informed about news across Asia and beyond. If you would like to see more of our reporting, please consider subscribing. 1. After Apple leak, has India lost ground in its supply chain race with China? In the wake of a cyberattack on a local Apple partner, insiders say India has a long way to go before challenging China as a manufacturer. 2. China wants unique access to minerals with Indonesia offer, analyst says China...
Bank Indonesia Governor Perry Warjiyo has stepped down from his role, Indonesia’s State Secretariat Minister Prasetyo Hadi said on Monday, a surprise move analysts said could rattle investors worried about the central bank’s independence and the country’s fiscal management. President Prabowo Subianto has accepted Warjiyo’s resignation, the minister said ahead of the opening of financial markets in Jakarta. Destry Damayanti, a senior deputy governor at BI, has been appointed as interim governor....
Tax breaks used to be enough. Not any more. Analysts say a new generation of investors is prioritising legal certainty and regulatory stability over incentives – and Asia’s most successful international financial centres will be those that successfully secure trust. All of which carries repercussions for Indonesia’s plans to build its first international finance centre, after lawmakers passed a law on Tuesday giving the project the green light. Enforceable contracts, predictable regulation and...
Indonesia wants to build a financial centre to rival Singapore, Hong Kong or Dubai, but analysts say the real work of persuading global investors has barely begun. Parliament’s passage of the enabling legislation on Tuesday laid the legal foundation for the hub, marking a milestone in President Prabowo Subianto’s push to attract more foreign capital into Southeast Asia’s largest economy and lift growth towards 8 per cent by the end of his term in 2029. Yet observers caution that the centre,...
Bali has “aura” and political titan Luhut Pandjaitan wants to channel it to transform Indonesia’s famed resort island into an international financial centre. But President Prabowo Subianto’s special adviser and economic tsar is not relying on subtle nods to Gen Z slang to sell paradise. Instead, he conjures up a striking image to make his case. A friend recently sent him a photograph of kamikaze drones lighting up the skies over Abu Dhabi, accompanied by a plea: help us get out. Indonesia,...