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  • Mitsubishi lowers stake in Indonesia's Medco Energi

    JAKARTA -- Mitsubishi Corp. has reduced its stake in Indonesian oil and gas producer Medco Energi Internasional.The Japanese trading house invested in Medco in 2007, hoping to collaborate in energy projects. With Medco focusing more on diversifying

    May 23, 2017 06:20 am JST
  • Activists decry arrests of 141 men in alleged Jakarta gay sauna

    JAKARTA -- Police in Indonesia's capital on Sunday night arrested 141 men suspected of participating in a gay sex party, drawing criticism from rights groups over their treatment of the accused. Officers raided a three-story shophouse in North Jaka

    May 22, 2017 11:14 pm JST
  • 16 Asia-Pacific nations agree to conclude free trade talks soon

    HANOI (Kyodo) -- Ministers from 16 Asia-Pacific countries agreed Monday in Hanoi to conclude a regional free trade deal swiftly, with their joint statement expressing their hope to strike a deal by the end of this year, which falls in the "milestone

    May 22, 2017 11:11 pm JST
  • Southeast Asia digital consumer market to hit $50bn in 2017: report

    SINGAPORE -- An increasing number of Southeast Asian people are relying on digital means to purchase products and services, helping the region's internet economy to balloon to more than $50 billion, according to a report by Bain & Co.The management

    May 22, 2017 10:00 pm JST
  • Asia's star stocks on an upswing despite 'Trump shock'

    TOKYO -- Despite turmoil in the global financial markets over allegations of U.S. President Donald Trump's ties to Russia, stocks in emerging Asian economies, particularly India, Indonesia and the Philippines, seem to be performing as strongly as ev

    May 22, 2017 08:00 am JST
  • Company in focus

    Hong Kong's MTR is praised abroad for efficiency, but criticized at home

    HONG KONG -- MTR has been venturing abroad long before the Belt and Road Initiative was proposed by Chinese President Xi Jinping in 2013.But it was not until recently that the monopoly operator of Hong Kong's profitable metro system said it wante

    May 21, 2017 12:00 pm JST
  • Asia-Pacific meeting puts Trump's trade turmoil center stage

    HANOI (Reuters) -- U.S. President Donald Trump's new trade representative held his first face-to-face meetings with some key partners on Saturday as the United States charts an "America First" policy that has upended the old global order and sparked

    May 20, 2017 03:30 pm JST
  • Mattis: North Korea military solution would be 'tragic on an unbelievable scale'

    WASHINGTON (Reuters) -- U.S. Defense Secretary Jim Mattis said on Friday that any military solution to the North Korea crisis would be "tragic on an unbelievable scale" and said Washington was working internationally to find a diplomatic solution."W

    May 20, 2017 04:45 am JST
  • Indian, ASEAN stocks spur Asia300 Index to record

    TOKYO -- Stellar performances by Indian and Southeast Asian stocks propelled the Nikkei Asia300 Index to a record this week.The index, which tracks over 300 promising companies in 11 Asian economies, climbed 16% since its December 2016 introduction

    May 20, 2017 02:30 am JST
  • ASEAN seeking a role in North Korea diplomacy

    TOKYO -- A former top official from the Association of Southeast Asian Nations said Friday that the 10-member group could play a peace broker role in the ongoing crisis over North Korea's nuclear weapons program."I [would] like to see the appointmen

    May 19, 2017 11:53 pm JST
  • S&P lifts Indonesia sovereign rating to investment grade

    JAKARTA -- S&P Global gave Indonesian President Joko Widodo a long-awaited reward Friday, lifting the country's long-term sovereign debt rating to investment grade.The U.S. credit ratings agency raised Indonesia's rating from BB+ to BBB-, one notch

    May 19, 2017 07:12 pm JST
  • Alfamart operator to expand chain in Philippines

    JAKARTA -- Sumber Alfaria Trijaya, operator of Alfamart convenience stores in Indonesia, plans to add up to 200 units in the Philippines this year that will nearly double its presence there.SAT began its Philippine business in 2014 with a 35% stake

    May 18, 2017 10:47 pm JST
  • Indonesia's carmakers take aim at Australian market

    BANDUNG, Indonesia -- When Indonesian President Joko Widodo met Toyota Indonesia vice president Warih Andang Tjahjono recently, one of the main topics of discussion was Indonesia's export potential, with the country's leader urging Toyota to try to

    May 18, 2017 10:00 am JST
  • Unilever to test new packaging-recycling tech in Indonesia

    JAKARTA -- Consumer goods giant Unilever on Wednesday said it has opened a new facility in Indonesia as part of a pilot project for introducing a new technology for recycling sachets used to hold shampoos and other products.Single-use sachets are wi

    May 18, 2017 01:05 am JST
  • Sompo Japan to release in Indonesia weather index insurance for farmers

    TOKYO -- Sompo Japan Nipponkoa Insurance will start selling insurance products that compensate farmers hit by drought in Indonesia as early as this autumn. Earlier this month, Sompo Japan signed a memorandum to partner with BMKG, Indonesia's meteoro

    May 17, 2017 12:00 pm JST
  • Mobile payments going viral in Southeast Asia

    BANGKOK -- For a region that has lagged behind the rest of the world in terms of the number of credit cards and banking accounts, Southeast Asia has made remarkable strides toward a cashless society through the use of smartphone payments.Spreading l

    May 17, 2017 11:00 am JST
  • Indonesia gives tax office access to financial accounts

    JAKARTA -- Indonesia has granted the nation's tax office access to financial information held by banks and other institutions, the country's latest move to join a global framework designed to curb tax evasion.The new regulation, known as a Perppu, h

    May 17, 2017 02:20 am JST
  • Japan to support export of coal, gas power technologies

    TOKYO -- Japan's industry ministry is set to support domestic industry's efforts to export low-emission gas and coal thermal power generation systems to developing countries.The program includes support for Japanese power companies' feasibility stud

    May 16, 2017 02:30 pm JST
  • Mitsubishi Jakarta factory to strive for Ghosn targets

    TOKYO -- Mitsubishi Motors is reinforcing production centers in Southeast Asia as part of its attempts to recover from last year's gas mileage data-falsification scandal.Having joined the Renault-Nissan Motor alliance, Mitsubishi is under pressure t

    May 16, 2017 02:00 pm JST
  • China agrees to lend $4.5bn for Jakarta-Bandung railway

    JAKARTA -- China Development Bank (CDB) has agreed to lend $4.5 billion to a consortium of state-owned companies from Indonesia and China building the 140km Jakarta-Bandung railway as Beijing steps up efforts to move the delayed project forward.The

    May 15, 2017 10:09 pm JST