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Kapital News Highlight - August 20

Monday, August 20, 2018

A weekly highlight for your updated and forward-thinking financial insight :  

  • This year, the value of the Turkish lira has dropped to 40 percent against the US dollar. The sharp decline in Turkey's currency will likely give a significant impact on some Asian countries. Six countries of Turkey's top sources of imports are already on the list. According to Deustche Bank Wealth Management's chief investment officer for Asia Pacific Tuan Huynh, Asian countries should be able to deal with external volatility since their domestic economies are in better condition than five years ago. Tuan added that this condition also explains that investors could have opportunities to buy into Asian emerging market stocks in the second half of the year. (CNBC)


  • Indonesia's first billion-dollar startup company, Go-Jek nearly achieve profitability in all its segments, except for transportation. Every month, Go-Jek processes more than 100 million transactions for its 20-25 million users and now Go-Jek is ready to expand in Southeast Asia. After Uber struck a deal with Grab, Go-Jek would invest $500 million to enter Singapore, Vietnam, Thailand and the Philippines. According to the CEO Nadiem Makarim, Go-Jek is looking for strong funding interest from investors as the company targets an aggressive expansion. (Reuters)


  • The Malaysian Prime Minister Mahathir Mohamad visited the world's second-largest economy country, China on last Friday (17/8). As he visited, Mahathir renegotiated a number of deals that were signed before he entered office. Mahathir evaluated the Chinese ventures for being overpriced and not supporting Malaysian labor. From the visit, Mahathir was expected to win better terms on the agreements coming out of Beijing. According to the Asia Institute at the University of Tasmania James Chin, the Malaysian Prime Minister did not want to take on too much Chinese debt and currently trying to diversify foreign direct investment. (CNBC)


  • Shariah economic expert from the Bogor Agricultural University, Irfan Syauqi Beik, said that the two Indonesian vice presidents, KH Ma'ruf Amin and Sandiaga Uno have the ability to develop Islamic economics in Indonesia forward. Ma'ruf is a sharia economy professor and Sandiaga is a young entrepreneur who developed halal tourism in Jakarta. Both of them are part of the IAEI (Association of Islamic Economics Experts) with special concern on Islamic economy. (Okezone)


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