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The Foreign Affairs Ministry announced that Indonesia had secured a $2 billion worth of investment commitment in the renewable energy sector. However, the ministry refused to say much about the investor. Even so, the government has dropped some clues about this investment commitment that was expected to fast-track the country's energy transition.   Source : https://jakartaglobe.id/business/european-firm-commits-to-invest-2b-in-indonesias-renewables

The 2023 Trade Expo Indonesia has booked at least $25.3 billion in transactions. As many as 3,162 buyers from 114 countries visited the on-site exhibition that took place at ICE BSD in Tangerang on Oct. 18-22. Malaysia was the top buyer at this year’s expo. As many as $6.29 billion of the goods and services transactions came from Malaysia, followed by India ($6.23 billion) and China ($5.58 billion). Trade Expo Indonesia posted transactions worth $15.83 billion last year, more than double the amount that it booked in the 2021 edition. The Southeast Asian country aimed to surpass what it had achieved in 2022. Last year, most of the transactions came from China, standing at around $10.78 billion.   Source : https://jakartaglobe.id/business/indonesias-largest-trade-fair-posts-253-billion-in-transactions

The slump in South Korean exports eased further in September in a positive sign for an economy that depends heavily on trade. Headline exports fell 4.4 per cent in September, compared with a 8.3 per cent drop in the previous month. Overall imports fell 16.5 per cent, resulting in a trade surplus of US$3.7 billion. South Korea is one of the world’s largest exporters, with its manufacturers embedded in a wide swath of global supply chains. Its exposure to global trade makes the nation a useful indicator for the health of the world economy.   Source : https://www.businesstimes.com.sg/international/south-koreas-export-decline-eases-further-adding-optimism

China’s factory activity expanded for the first time in six months in September, adding to a run of indicators suggesting the world’s second-largest economy has begun to bottom out. The purchasing managers’ index (PMI), based on a survey of major manufacturers, rose to 50.2 in September from 49.7, according to the National Bureau of Statistics. Near-term data on the radar of economists include consumer spending for the longest public holiday this year. “Golden Week” kicked off on Friday with the Mid-Autumn Festival, which will be followed by the National Day break through October 6th. Passenger travel by rail on Friday reached 20 million trips, a single-day record, state media reported on Saturday, in a bullish start to what authorities had forecast to be “the most popular Golden Week in history”.   Source : https://www.cnbc.com/2023/09/30/chinas-economy-stabilises-factory-activity-returns-to-expansion.html

Indonesian government has given a signal that electric car manufacturer BYD will soon enter the Indonesian market. This follows the plan to issue incentives to eliminate import taxes on completely built up (CBU) electric cars. Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan said that the incentive to eliminate CBU import tax from 50% to 0% will be issued soon. This incentive will make it easier for BYD to enter Indonesia. BYD is a Chinese global electric car giant that was founded in 1995. BYD is present in 6 continents, more than 70 countries and more than 400 cities throughout the world. In 2022, BYD recorded electric car sales of 1,858,364 units or a growth of 211% compared to the previous year.   Source : https://industri.kontan.co.id/news/insentif-penghapusan-pajak-impor-cbu-segera-terbit-byd-siap-masuk-ke-indonesia

Boeing has strengthened its foothold in the Indonesian aviation market by opening a new office in Jakarta and signing a Memorandum of Understanding (MoU) with Indonesia’s Directorate General of Civil Aviation (DGCA). The MoU is aimed at enhancing the safety, efficiency, and sustainability of Indonesia's burgeoning aviation industry. Indonesian carriers such as Lion Air and Garuda Indonesia have ordered a total of 278 Boeing 737 Max narrowbodies. This comes despite the model undergoing a major redesign following the Lion Air crash in 2018 and Garuda Indonesia's unclear order status.   Source : https://www.investing.com/news/stock-market-news/boeing-fortifies-indonesian-aviation-sector-with-new-office-and-mou-93CH-3191364

Apple supplier Foxconn aims to double its workforce and investment in India by next year. Taiwan-based Foxconn, the world's largest contract manufacturer of electronics, has rapidly expanded its presence in India by investing in manufacturing facilities in the south of the country. Foxconn already has an iPhone factory in the state of Tamil Nadu, which employs 40,000 people. In August, the state of Karnataka said Foxconn will invest $600 million for two projects in the state to make casing components for iPhones and chip-making equipment.

Despite growing climate concerns, the world continues to depend on coal as a power source, with more coal-fired capacity created every year. China now generates more electricity from the hydrocarbon. Demand for coal in India increased 8% in 2022, and at the same time a 36% rise in demand made Indonesia the fifth-biggest consumer. Global demand is expected to hit a new high in 2023. Heat waves brought about by global warming increase the world's dependency on fossil fuels, which in turn causes a further rise in temperatures. The world needs to break this vicious cycle, or it could see its 10-year "grace period" for averting climate disaster evaporate quickly.   Source : https://asia.nikkei.com/Spotlight/Datawatch/World-struggles-to-break-coal-habit-despite-looming-climate-risk#