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Kapital News Highlight - August 6

Monday, August 6, 2018

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


1. Asian Games to boost Indonesian economy. According to the Economist of the Institute for Development of Economics and Finance (INDEF) Bhima Yudhistira Adhinegara said that the upcoming event of the 18th Asian Games is expected to help boost Indonesian economy. As the games will be attended by the participants from 45 countries across Asia, he remarks that the Asian Games event will trigger foreign tourists to visit Indonesia and eventually they continue to travel to some touristic places after the games. Also, the growth of economy also come from the Micro, Small and Medium Enterprises (MSME) that are involved in the Asian Games. (AntaraNews)


2. On last Thursday, Apple became the world's first public company to hit USD1 trillion market cap beating its rivals such as Amazon and Microsoft. The company's market value reached a new record high of USD$207.39. Since the first iPhone sold in the market in 2007, Apple shares have reached 1,100%. According to BBC, the superior stock value of Apple has been driven by two main factors: the company is selling fewer iPhones but releasing a more expensive one that make more money and has diversified the source of its profits. Although Apple now may be threatened by the Chinese smartphone, the company shows that it just made a big history in the financial industry. (BBC)


3. As a response to the US threat about new tariffs on the imported goods from China, the Chinese government plans to impose new tariffs on more than 5,200 US products that worth around USD60bn. In Friday's announcement, the Chinese government said the US items to be imposed on new tariffs including agriculture and energy products, leather and machinery. The trade war between China and the US has affected on Chinese's currency which has declined almost 9% against the US dollar. According to a professor of Chinese history at the University of Chicago Kenneth Pomeranz, it is still difficult to predict how this trade war will end. (BBC)


4. According to a study conducted by FedEx Express, the small and medium-sized enterprises (SMEs) in Singapore has become the top exporters by revenue in the Asia-Pacific in 2017. The average annual revenue generated by the SMEs in Singapore was recorded at US$ 1.75 million. From the study, it was also found that the digital economy helped to boost the growth of the SMEs business with 78 percent of SMEs used e-commerce, 65 percent used social commerce and 57 per cent used mobile commerce. Within the next 12 months, this trend is expected to continue along with the growing optimism among SMEs to influence the digital economy through the channels. (StraitsTimes)



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