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  • Western carmakers looking to catch up in Indonesia

    JAKARTA -- Indonesia's 22nd International Motor Show kicked off here Thursday with western carmakers hoping to make a big splash. In Southeast Asia's biggest economy, more than 90% of the car market is controlled by Japanese producers. Indonesia

    September 19, 2014 03:00 pm JST
  • Indonesia's budget carrier market becoming 3-way battle

    JAKARTA -- Budget air travel in Indonesia is changing quickly as most small carriers feel the financial pinch, leaving the low-cost battle for the country's skies a three-way competition. The top player, Lion Air, is facing increased competition

    September 19, 2014 01:00 pm JST
  • India, Asean enhance free trade agreement

    NEW DELHI -- Four years after a free trade agreement relating to goods came into effect between India and the Association of Southeast Asian Nations, the trade partners have gone a step further with a supplementary trade in services and investment a

    September 19, 2014 12:34 pm JST
  • Malaysian media group to sell TV shows abroad: CEO

    TOKYO -- Astro Malaysia Holdings will sell television programs that it produces to such overseas markets as Singapore, Indonesia and Vietnam by tapping Malaysia's multilingual culture, the head of the country's largest satellite TV service provider

    September 19, 2014 04:34 am JST
  • Japan's automakers display gamut of cars at Indonesia show

    JAKARTA -- The Indonesian International Motor Show opened Thursday in Jakarta, and Japanese automakers are there in force showing off something for every budget, from inexpensive fuel-sipping models to SUVs and a sports car geared toward wealthier d

    September 19, 2014 02:35 am JST
  • Indonesia set for large fuel price rise

    HONG KONG -- Indonesia's incoming government will dramatically raise fuel prices within weeks of taking office, according to a senior adviser to President-elect Joko Widodo. "We're going to hike the fuel price by November," said Luhut Pandjaitan

    September 18, 2014 07:00 pm JST
  • Venture capitalists lining up in Southeast Asia

    JAKARTA -- Investors are placing big bets in young Internet companies in Southeast Asia. The prizes, in a region where economies and the mobile market are rapidly growing, could be huge. Southeast Asian investors have raised millions in the past

    September 18, 2014 12:00 am JST
  • Indonesia's Medco Energi to invest $320M in Tunisia oil assets

    JAKARTA -- Indonesia's Medco Energi Internasional is planning to spend $320 million over the next four years to develop the Tunisia oil and gas blocks it purchased in August. Medco said Tuesday in a presentation to investors that it aims to boos

    September 17, 2014 04:20 pm JST
  • Yasuyuki Todo: Exclusive ties keep Asia's growth stuck in middle-income trap

    Low-income countries tend to demonstrate higher growth rates than rich ones. Because low-income countries have room to learn advanced technology and knowledge from developed nations, it is easier for them to produce imitation goods. Moreover, capita

    September 17, 2014 01:00 pm JST
  • Aeon aims to win over Southeast Asia by replicating Malaysia model

    KUALA LUMPUR -- Since entering Malaysia 30 years ago, Japanese retail giant Aeon has worked tirelessly to build a solid presence in this diverse market, offering products that suit the lifestyles of consumers with different religions and income leve

    September 17, 2014 03:04 am JST
  • Mitsubishi Motors pins growth hopes on Southeast Asia

    TOKYO -- Mitsubishi Motors is piling on investments in Southeast Asia, seeking to lay new foundations for overseas expansion. The automaker said Tuesday that it will build an assembly plant in Indonesia. It aims to raise its market share in the

    September 17, 2014 01:39 am JST
  • UOB survey finds regional companies bullish on China

    SINGAPORE -- Despite increasing costs and slower growth, companies in the region are still keen on expanding in China with its growing middle-class consumer market, according to a survey by Singapore's United Overseas Bank (UOB) of over 1,000 mid-ti

    September 16, 2014 08:42 pm JST
  • Telkom Indonesia to buy 25% stake in mobile retailer TiPhone

    JAKARTA -- Indonesia's biggest mobile phone operator, Telekomunikasi Indonesia, known as Telkom, plans to buy a 25% stake in phone distributor TiPhone Mobile Indonesia worth 1.39 trillion rupiah ($116 million). In a stock exchange filing Monday,

    September 16, 2014 04:10 pm JST
  • Japan's SMBC finds partner to help build Islamic finance business

    LONDON -- Japan's Sumitomo Mitsui Banking Corp. is ready to expand lending in countries where Islamic finance prevails. The Japanese bank on Sept. 15 signed a memorandum of understanding with the Islamic Corporation for the Insurance of Investme

    September 16, 2014 02:30 pm JST
  • Indonesian property developer Agung Podomoro's January-August sales slip 20%

    JAKARTA -- Agung Podomoro Land reported a 20% decline in property sales in the January-August period, providing another sign of slowing demand in the country's real estate sector. The developer posted 3.13 trillion rupiah ($250 million) in marke

    September 16, 2014 11:10 am JST
  • Indonesia, Southeast Asia's hot auto market

    TOKYO -- Japanese automakers are looking to ramp up production in Indonesia. The country this year is expected to overtake Thailand as Southeast Asia's largest auto market. Annual sales of cars there are forecast to reach 2 million units by 2025

    September 14, 2014 02:00 am JST
  • Tomy, Malaysia's Animonsta to make Muslim-friendly cartoons

    TOKYO -- Tomy is partnering with a Malaysian animation company to create made-for-TV content that takes Islamic culture into consideration. The Japanese toy and entertainment company has entered into a business tie-up with Animonsta Studios, whi

    September 12, 2014 03:33 am JST
  • SPAR International to open supermarkets in Indonesia

    JAKARTA -- Netherland-based supermarket giant SPAR International plans to open 30 supermarkets in Indonesia with a partnership with local department store operator Ramayana Lestari Sentosa. Under the partnership, Ramayana will operate SPAR superma

    September 11, 2014 06:40 pm JST
  • Lazada seeks e-commerce dominance in Southeast Asia

    TOKYO/FRANKFURT -- Lazada is quickly becoming an e-commerce behemoth in Southeast Asia, branching out into six countries in a mere two years, as global giants and local players vie for a bigger slice of this burgeoning market. Lazada, founded in

    September 11, 2014 03:58 am JST
  • Indonesia ready for more foreign investment, less red tape, says Widodo

    JAKARTA -- Indonesian President-elect Joko Widodo wants to slash government waste and inspire reluctant overseas investors to pump their money into his country. Jokowi, as he is widely known, expressed these and other hopes last week when unveil

    September 11, 2014 12:00 am JST