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Kapital News Highlight - Nov 9

Friday, November 9, 2018

• Alibaba, a giant e-commerce company from China. launched a special section on its platform for Indonesian products to promote Indonesia's best products to Chinese consumers. This special section is called the Indonesian Pavilion. Indonesian Ambassador Djauhari Oratmangun and the General Manager of Public Affairs at Tmall Ryan Wang inaugurated the Indonesian Pavilion at the 11.11 Global Shopping Festival in Shanghai. The special section "Indonesian Pavilion" will initially offer five leading Indonesian food and beverage brands, such as Indomie instant noodles, Kapal Api packaged coffee, Yan Ty Ty swallow's nests, Richeese biscuits, and Papatonk shrimp crackers. Through Tmall's integrated service center, Indonesian brands can increase consumer awareness of their products. Moreover, Chinese consumer will have a chance to learn about Indonesian cultures and tourism which will be featured on the platform. (Jakarta Globe)

• Just before the launching of its rival Go-Jek in Singapore, Grab announced two major partnerships which is expected to occur later this month. Grab's prestigious partnerships with MasterCard and puts it on track to the one indispensable app in the region. Services for MasterCard and are intended for digital services and payments, which serve to make Grab a super app. The collaboration between Grab and MasterCard allows a prepaid card from MasterCard to be integrated with GrabPay, the company's mobile wallet. This will also make GrabPay to be the first e-wallets in Asia that can be used wherever you go across the globe. In addition to the partnership with, Singaporean Grab users can book accommodations via the Grab app by 2019, pay them using GrabPay, and accumulate the GrabRewards in the process. (The Independent)

• ASEAN shows a significant progress in negotiating about the new Indo-Pacific architecture, but the bigger challenge is yet to come: to convince China and the United States to join. Moreover, there is an unresolved problem with the term "Indo-Pacific", with China holding a suspicion that it is part of a policy against its rise in the region and the world. The "Indo-Pacific Outlook" concept paper, drafted by Indonesia, gives 10-member ASEAN intellectual leadership to discuss the broad future of the region. Several countries have developed their own ideas, proposals, and terminology with their own perspectives. For example, Japan has the Free and Open Indo-Pacific Strategy (FOIP) and India has its Security and Growth for All in the Region (SAGAR). Moreover, the US has expanded its Pacific military to cover both oceans to become the US Indo-Pacific Command (USINDOPACOM) and Russia has proposed the name "Indo-Asia Pacific" to ensure it is not excluded from the emerging regional architecture. Put aside the name issue, the most important for ASEAN is to take the ownership of the Indo-Pacific concept. Now that everyone recognizes the emergence of a new regional architecture, it is crucial for ASEAN to take leadership in driving the process. (The Straits Times)

• The Belt and Road Initiative (BRI) announced by China in 2013 will lead to unexpected opportunities in all sectors of the Islamic economy. This is because around 27 of the 65 countries that have registered for cross-continent economic development schemes are predominantly Muslim, industry experts and academics. The Chief Executive Officer of Dubai Islamic Economy Development Centre (DIEDC) Abdulla Mohammad Al Awar said that the BRI strategy reaches many countries, from China's mainland to Africa. Group Chief Executive Officer of Dubai Islamic Bank Dr. Adnan Chilwan said that the trade and investment growth from the BRI through the UAE, particularly Dubai, is likely to open up huge opportunities for local and regional Islamic financial institutions which will be the key players in catalyzing fund mobilization. Moreover, Vice Chancellor Academic Affairs at Hamdan Bin Mohammed Smart University Dubai Professor Nabil Baydoun added that Islamic finacne could help bridge the funding gap. (Salaam Gateway)

• The Indonesian Minister of Foreign Affairs Retno Marsudi has expressed his optimism that Indonesia would be able to become the capital of the creative economy in the Southeast Asia region. Marsudi noted that the country's rich cultural heritage allows the country to develop its creative industries, fashion, culinary, entertainment, and art and crafts. These sectors have become the anchor for the Indonesian economy as it helps the country to remain strong facing the global economic crisis. Marsudi also remarked that the synergy between related parties is needed to establish Indonesia as the creative economic modality in the region. The synergy will then be useful for developing healthy environmental regulations and ecosystems. (Antara News)

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