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Eid al-Fitr celebrations in Indonesia are subdued this year due to soaring prices and declining consumer spending, with travelers dropping to 146 million, a 24% decrease from last year. Economic hardships, including currency depreciation and layoffs, have forced families to cut back on festivities, impacting the overall holiday spirit. Despite these challenges, the government is optimistic that initiatives to stimulate spending will support economic growth in early 2025.
Taobao is launching an English app in several Asian markets, aiming to enhance its appeal to non-Chinese customers and address past shopping challenges. While it leverages its connection to Lazada, it faces competition from established players like Shopee, known for better returns and after-sales support. The platform's clothing quality has reportedly improved significantly, prompting a potential resurgence in interest among shoppers.
Indonesia's economic challenges are highlighted by a 6% plunge in the IDX composite index, raising concerns about market stability and investor confidence. Despite this, tech firms like GoTo and Bukalapak showed resilience, while the weakening rupiah may affect valuations for startups. Meanwhile, SkyeChip in Malaysia secured funding for semiconductor development, and notable developments include Meesho's profitability and Chagee's IPO plans in the US.
NXP Semiconductors is collaborating with Vanguard International Semiconductor Corporation to establish a wafer manufacturing facility in Singapore. Southeast Asia faces significant climate challenges but also has immense potential for renewable energy, requiring an estimated US$1.5 trillion by 2030 for green investments, which have only reached US$45 billion since 2021. The region's dynamic economy, driven by e-commerce, fintech, and AI, is projected to grow by 4.6% in 2025, outpacing major economies like China.
UBS has added Euronext NV to its "30 for 30" global equity focus list, citing its potential to benefit from increased European trading volumes and volatility. The investment bank highlights Euronext's strong financial performance, with a 15.1% rise in adjusted EBITDA in 3Q24, and its strategic initiatives aimed at achieving over 5% revenue and EBITDA growth through 2027. Bank Mandiri was removed from the list due to ongoing margin pressures in Indonesia.
UBS has added Euronext NV to its "30 for 30" global stock list, replacing Bank Mandiri, citing Euronext's potential to benefit from a recovery in European trading volumes and its strong financial performance, with a 15.1% increase in adjusted EBITDA in Q3 2024. The investment bank highlights Euronext's attractive valuation and growth initiatives, while noting risks related to market volatility and regulation. Other companies on the list include Microsoft, Alibaba, Meta Platforms, and Goldman Sachs, reflecting a focus on technology disruptors in rapidly transforming sectors.
UBS has revised its alumina price forecast for 2025 downward to below $400 per ton, following a rapid price decline from over $800 per ton in December 2024 due to increased supply. Factors contributing to this shift include record production rates in China and a significant rebound in bauxite imports from Guinea.Despite the forecast cut, UBS remains optimistic about aluminum's fundamental outlook, anticipating modest market deficits and a stable LME aluminum price around $2,700 per ton, while maintaining a bullish stance on companies like Norsk Hydro and Alcoa Corp.
Global renewable energy capacity surged by 585 GW in 2024, marking a record growth rate of 15.1%, yet still falling short of the 11.2 terawatts needed by 2030. Solar and wind dominated the expansion, with solar capacity alone increasing by 32.2%, driven primarily by China and India.IRENA emphasized the urgency for annual additions exceeding 1,120 GW to meet climate goals, while UN Secretary-General Antonio Guterres highlighted the economic and environmental benefits of this transition.
Blibli has reported a 14% revenue growth for the year 2024, showcasing a positive trend in its financial performance. This growth reflects the company's ongoing efforts to enhance its market presence and operational efficiency. The results indicate a strong trajectory as Blibli continues to expand its business.
Blibli, an Indonesian omnichannel commerce platform, reported a 14% year-on-year revenue growth for 2024, with a remarkable 41% increase in Q4. Direct sales surged by 66% to 859 billion rupiah, while marketplace sales rose 26%, driven by heightened customer demand. The company enhanced its logistics with a new warehouse for two-hour delivery in 48 cities and reduced operating losses by 34%, showcasing its commitment to efficiency and innovation.
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economic challenges dampen eid celebrations in indonesia as travel declines
03:44 31.03.2025
taobao expands cross-border offerings to enhance shopping experience in asia
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