MAYASIA BUSINESS OUTLOOK8NEWSROOMIndonesian manufacturers are facing the double-edged sword of a weaker rupiah against the US dollar and an increasing oil price, which make the input costs to local companies higher. The rupiah's fall in the past weeks can mainly be attributed to uncertainties relating to US monetary policies and geopolitical tensions. Yesterday, rupiah has remained in the range of Rp 16,200 to Rp 16,300 against dollar since Tuesday. Surprisingly, the currency has went as low as Rp 16,000 against dollar during the IdulFitri holiday period.On the other hand, the oil benchmark of Brent, which is an international standard, pushed to a six-month peak last week, declining by 3 % on Wednesday, settling at $87.29 a barrel. In accordance to projections, the price is believed to reach $90 per barrel. Jemmy Kartiwa, Chairman of the Indonesian Textile Association (API), told on Thursday that the fall of the rupiah, which is the Indonesian currency, made the difficulties that domestic textile industry faced even worse. Those already challenged by their export opportunities shrank and competition from foreign imports greatly increased. Adhi S. Lukman, Gapmmi chairman, said on Thursday that rising energy and logistics expenses due to fluctuated exchange rates and oil prices have resulted in production costs spike, thus. The united arab emirates and Costa Rica marked a comprehensive economic partnership agreement (CEPA) in a contract that will give new funding potential in key areas and lift exchange ties between the two nations. "The settlement between the exchanging partners will support the private sector alliance and deliver financial opportunities in crucial areas, including logistics, energy, aviation and travel industry, according to sources."We look forward to the impact this agreement will have on trade and investment ties between the UAE and Costa Rica," President Sheikh Mohamed said in a post on X on Thursday."The UAE is committed to building bridges of friendship and co-operation with nations that share our vision of long-term prosperity.""This is the first agreement of its kind between Costa Rica and a country of the Middle East, aligning with our administration's strategic objective of expanding into new markets," Costa Rica President Rodrigo Chaves Robles said."I firmly believe this economic partnership will unlock a myriad of trade and investment opportunities."This is the most recent in a line of Cepa signings by the UAE and follows the summary of exchanges for an arrangement with Kenya in February. That was pointed toward giving further admittance to the high-development African mainland and ventured into areas from food to innovation. The UAE is centered around supporting its non-oil trade with nations worldwide as it tries to enhance its economy and draw in foreign investment. RUPIAH DECLINE &OIL SURGE IMPACT INDONESIAN INDUSTRYUAE & COSTA RICA INK CEPA DEAL TO PROMOTE INVESTMENT & TRADE TIES
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