News · CafeF

China praises Indonesia after $10.2 billion deal: President Prabowo calls foreign partners 'brothers'

On October 8, President Prabowo launched 11 downstream industrial projects backed by China, estimated at $10.2 billion, at the Weda Bay Industrial Park (IWIP) in Central Halmahera, North Maluku. He witnessed the first export shipment of electric vehicle batteries produced by Chinese firms at the park and described foreign partners as 'brothers' of the Indonesian people. On October 13, Chinese Foreign Ministry spokesperson Mao Ninh said that 'the success of Chinese companies in Indonesia is also Indonesia's success' and expressed confidence that Indonesia would keep protecting the legitimate rights of Chinese firms. Total investment in IWIP has exceeded $20 billion, with another $7 billion planned for expansion, and the zone has created more than 100,000 jobs.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Trung Quốc khen Indonesia sau thương vụ 10,2 tỷ USD: Tổng thống Prabowo gọi đối tác nước ngoài là 'anh em'

Read the original on CafeF ↗

Related news

  • China's Trade Surplus Nears $1 Trillion

    China's trade surplus reached $938 billion in the first nine months, on track to beat last year's record of $1,100 billion. September exports rose more than 36% from a year earlier, the highest since February, while imports climbed 31%, above forecasts. Strong overseas demand is offsetting weak domestic consumption and easing pressure to meet the 4.5-5% GDP growth target, even as producer prices rose at their fastest pace in four years while consumer prices edged up below expectations. After Xi Jinping and Donald Trump met in Washington, both sides extended their trade truce and agreed to cut tariffs on an additional $30 billion of each other's goods. Planned EU restrictions on hybrid cars could pressure China's auto industry, so automakers are rushing exports before detailed EU rules are published in December, while Washington and Brussels still blame Beijing's industrial and currency policies for the surplus.

    VnExpress·
  • Exclusive: ‘I’ve seen this movie before’: A Michigan-raised ex-Tesla exec raises $45 million to break China’s grip on batteries

    Holyvolt, a Stockholm-based battery-materials startup, has raised $45 million in all-equity funding from Fifth Wall, Zone II, CC.VC and several angel investors, valuing the company at $245 million according to a person familiar with the deal. COO Steven Prast, a former Tesla manufacturing leader, argues that China makes about 85% of the world's cathode active material and about 80% of battery cells, so the West cannot win by competing on the chemistries China already dominates. Holyvolt merged with San Diego's Wildcat Discovery Technologies, whose high-throughput platform has run more than 225 projects for more than 85 customers and tested over 500,000 cells in 18 years. Based on a customer case study, the company says its lab, paired with AI models trained on that data, works about 10 times faster than conventional R&D. Its first output is DRX (disordered rocksalt), a cathode family with neither nickel nor cobalt that Prast says delivers NMC-like performance.

    Yahoo Finance·
  • Lisa Cook lawyer doubts Trump committee's fairness as president calls her 'automatic no vote'

    Lisa Cook's lawyer, Abbe Lowell, argues that the committee Trump set up to investigate mortgage fraud allegations against the Fed governor cannot be fair, citing 'demonstrably biased members' and unspecified additional allegations. In a letter to adviser Will Scharf, Lowell said Cook cannot attend the November 5 in-person hearing because she will be on Fed duties in Europe, so the earliest possible hearing would be in December. Trump earlier called Cook 'dishonest' and an 'automatic no vote' for opposing rate cuts, and the White House said he is performing his constitutional duty. Lowell also said top economic adviser Kevin Hassett has prejudged the case by suggesting Trump has 'cause' to fire her. The Supreme Court blocked Trump's first attempt to remove Cook in late June for insufficient due process, and Cook denies the allegations.

    CNBC·
  • Egypt Sisi seeks parliament backing to help defend Saudi Arabia if askedarynews.tv·EgyptSaudi Arabiageopolitics
  • Egypt Sisi seeks parliament backing to help defend Saudi Arabia if asked

    Egyptian President Abdel Fattah al-Sisi said Egypt would take any necessary measures to defend Saudi Arabia if asked, amid escalating Houthi attacks on the kingdom, and that Egypt would act on guidance from King Salman and Crown Prince Mohammed bin Salman. He stressed Egypt was not seeking to attack anyone but was ready to act in defence, and asked parliament to hold an emergency session to authorise such action if needed. Parliament announced a plenary session on Sunday without disclosing the agenda. The Houthis have recently attacked Riyadh's international airport and Saudi Aramco amid renewed fighting with Saudi-backed forces after a truce collapsed.

    al-monitor.com·geopoliticsHouthiSaudi Arabia
  • President Lee places housing, jobs, finance atop national agenda: Korea.net

    President Lee Jae Myung has pledged to make housing, employment and finance the top priorities of his administration for the rest of the year, telling senior secretaries at Cheong Wa Dae on October 15 that the economy's gains must produce tangible results for every citizen. He said Korea could become the sixth country with a population above 50 million to surpass USD 40,000 in per capita income if current momentum continues, but that people's daily hardships have not improved as much as key indicators suggest. Lee called for more housing supply tailored to each life stage, a national job creation project involving the private and public sectors, and measures such as policy-based funding, interest rate relief and customized debt restructuring to ease the effects of rising interest rates. The remarks came on the 500th day of his "people's sovereignty" administration.

    korea.net·South Koreahousingemployment

Related markets

Currencies →Gold →

Latest news

  • Meta Earnings: What To Look For From META

    Meta Platforms (NASDAQ:META) will report earnings this Wednesday after the market closes. Last quarter, revenue reached $60.8 billion, up 28% year on year and above analysts' expectations, though revenue guidance for next quarter slightly missed forecasts; daily active users hit 3.6 billion, up 3.4%. The market expects revenue growth of 23.6% this quarter, slowing from 26.2% a year earlier, and analysts have generally reconfirmed their estimates over the past 30 days. Over the last month, consumer internet stocks have gained 1.3% on average, while Meta is down 4.8%.

    Yahoo Finance·• METAMETAearningstech stocks
  • An AI bust could come from places investors arent watching , an economist says

    Concerns about an AI bubble are growing, and TS Lombard's Dario Perkins warns that investors may be overlooking other risks. Debt among smaller cloud providers, model developers and suppliers could reach $2 trillion by the end of 2027. Perkins does not see this as a systemic risk, but warns that earnings disappointments and canceled orders could ripple through the ecosystem, and that a chip glut could follow over-ordering. Much of the industry's revenue growth still comes from spending within the AI ecosystem rather than from businesses and consumers outside it. He also flags political backlash, noting that ordinary people dislike AI and nearby datacenters, and warns that one high-profile accident could turn AI toxic.

    aol.com·▼ NVDA▼ QQQAI investmentartificial intelligenceNVDA
  • Yen jumps after JGB auction draws big demand , euro finds relief

    The yen rose 0.2% to 158.15 per dollar in Asian trading after a 20-year Japanese government bond auction drew bids of 5.84 times the amount sold, well above the 4.01 times at the previous auction, and the yield fell 6 basis points to 3.71%. A State Street strategist said the record demand suggests sidelined cash is returning and that JGBs are becoming a relative haven from political and fiscal volatility in Europe, particularly France. Anti-government protests in France prompted curfews in several cities, while Italy said it would send 500 troops after two days of unrest, and the euro rallied 0.2% to $1.1234. Elsewhere, bitcoin slipped 0.3% to $81,674.25 and ether edged down 0.2% to $2,393.21.

    aol.com·▼ USD/JPY▼ DXY▲ EUR/USDbondsexchange ratesJapan
  • Unemployment rate dips to 4 . 7 % - but vacancies hit five - year low

    Vacancies fell by 21,000 to 691,000 in the three months to September, the biggest drop since the three months to March and the lowest since July to September 2014 outside the pandemic, while unemployment dipped in the three months to August. Payroll numbers were down 66,000 over the year to September. The ONS said the fall was mainly among smaller firms struggling with higher labour costs, following rises in employer national insurance, the minimum wage and workers' rights. A CBI survey found labour costs and regulations were making it harder to create jobs, and firms urged the Chancellor not to add to their burden in the October 28 Budget. ICAEW's Suren Thiru said the labour market is 'running on idle' and unemployment could climb above 5 per cent, while Shadow Chancellor Andrew Griffith blamed Labour's 'Jobs Tax' and red tape.

    dailymail.com·• GBP/USD
  • CNBC Daily Open: Tech rebounds in the U.S., but Asia isn’t buying it yet

    U.S. tech stocks rebounded as the Nasdaq Composite rose more than 1% on Monday, with Nvidia up 1.4% and Tesla up 3.8%. In Asia, however, tech shares fell on Tuesday, with South Korea's Kospi down over 4% and Japan's Nikkei 225 down 1.6%. Nvidia also unveiled plans to back four German AI startups as part of its nearly $10 billion European investment commitment. Jenny Lee of Granite Asia said Asian companies are reaching IPOs much sooner, often at four to five years old, while Jio Platforms' Indian IPO saw its anchor investor quota oversubscribed more than 30 times, aiming to raise up to 302 billion rupees ($3.2 billion). In Singapore, several agricultural stocks fell after Senior Minister K Shanmugam warned that companies would not escape responsibility for possible roles in the haze, noting seven firms had been questioned by the Singapore Exchange.

    CNBC·▲ QQQ▲ SPY▲ NVDA• VNINDEXtech stocksAsiaNVDA
  • NiSource (NI) Stock Looks Overvalued Against Its Dividend Outlook

    NiSource has nearly doubled shareholders' money over the past five years, delivering a 97.6% total return, which raises the question of whether dividends can justify the current share price. The article highlights a new 20-year energy agreement with Microsoft, including customer-funded grid upgrades and long-term electric service for data centers, which may affect future capital needs and cash-flow visibility. Using a Dividend Discount Model with inputs of about $1.35 dividend per share, roughly 9.07% return on equity, a payout ratio slightly above 61%, and implied dividend growth of about 3.5%, the estimated intrinsic value sits meaningfully below the current share price of $41.95. The model still does not bridge that gap, suggesting income investors are paying a premium for a relatively steady payout with modest assumed growth.

    Yahoo Finance·NIdividendselectricity

All news →

Get the briefing on Telegram or Zalo

Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.