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  • Why 7-Eleven is closing in Indonesia

    JAKARTA -- 7-Eleven convenience stores looked like a success in Indonesia when they began popping up in 2009. The stores stayed busy and local operator Modern Internasional gradually expanded the chain's reach outward from Jakarta.But come Friday, 7

    June 29, 2017 03:48 pm JST
  • Ramadan fails to goose Indonesian retailers' sales

    JAKARTA -- In Indonesia, Ramadan is the most important time of year for retailers as many consumers descend on shopping malls and other locations with bonuses that are paid during the Islamic holy month.The period of dawn-to-sunset fasting came to a

    June 28, 2017 04:57 pm JST
  • Stephen Grenville

    Asian financial crisis exposed limits of neoliberalism

    July marks the 20th anniversary of the float of the Thai baht, the opening signal of the Asian financial crisis. None of the central bankers and global officials who watched the crisis unfold realized at the time that it marked the end of the "Asian

    June 28, 2017 09:00 am JST
  • Nicholas Spiro

    Asian markets brush off concerns about China, Fed

    Asia, the region most sensitive to concerns about China's economy and the conduct of U.S. monetary policy among emerging markets, is proving remarkably resilient.Over the past three months, potential catalysts for a sharp deterioration in market con

    June 27, 2017 07:26 pm JST
  • Indonesian e-tailer offers top fashion at rock-bottom prices

    JAKARTA -- Indonesian online fashion store VIP Plaza has become the country's go-to site for top brands at rock-bottom prices.Inside an old building on a busy Jakarta street, a Western model poses for a photo shoot. The eponymous company behind the

    June 27, 2017 10:33 am JST
  • Asia gets tough on shady business dealings

    TOKYO -- From the Philippines to Hong Kong to India, Asian governments are trying to boost economic development by cracking down on cartels, bid rigging and other anti-competitive business practices.In March, the Hong Kong Competition Commission too

    June 25, 2017 01:30 pm JST
  • Itochu banks on P2P lending in Indonesia

    TOKYO -- Itochu will invest roughly $50 million in an Indonesia peer-to-peer lending business that sees the Southeast Asian country's underdeveloped financial infrastructure as an opportunity to spread a new generation of credit services.The transac

    June 25, 2017 10:15 am JST
  • Tracking how China is turning Asia red

    TOKYO -- Since the end of World War II, the U.S., a self-styled missionary of democracy, has held sway in Asia. But now, on the economic front, the U.S.-led regional order is unraveling in the face of China's rapid rise, and the communist country is

    June 24, 2017 05:00 pm JST
  • Learning the lessons of the Asian financial crisis

    BANGKOK/JAKARTA/MANILA -- In June 1997, Sirivat Voravetvuthikun found himself selling sandwiches on the streets of Bangkok. The former high-flying stock investor had lost everything when his project to build luxury condos went belly-up.At a loss for

    June 24, 2017 11:00 am JST
  • Asia's financial safety net is a work in progress

    TOKYO -- In early May, the Asian Development Bank celebrated its 50th anniversary at its annual meeting in Yokohama, a port city south of Tokyo. Finance ministers and central bankers from the Association of Southeast Asian Nations, China, Japan and

    June 24, 2017 11:00 am JST
  • Affordable helicopter taxis to beat Jakarta gridlocks

    JAKARTA -- Whitesky Aviation sees a business opportunity in Jakarta's worsening traffic congestion, and the charter flight company is offering a heavily subsidized holiday promotion rate of only 14 million rupiah ($1,051) for a 40-minute helicopter

    June 23, 2017 11:50 pm JST
  • Rix to set up shop in Indonesia

    FUKUOKA, Japan -- Japanese high-speed rotary joint and washer company Rix will establish a sales subsidiary in Indonesia to pitch factory pumps and valves to Japanese makers in the country.The unit will be set up with a capital of 5 billion rupiah (

    June 23, 2017 02:56 pm JST
  • Japan SMEs find prime hunting grounds in Southeast Asia

    TOKYO -- It is not only Japan's giant corporations that are looking to expand overseas. For the past three fiscal years, more than 40% of loan commitments provided by the Japan Bank for International Cooperation were directed to mid-tier, small and

    June 23, 2017 02:00 pm JST
  • ASEAN pushing for direct yen trading

    TOKYO -- Japanese authorities have long dreamed of the yen becoming a global currency. Now the yen may be on the cusp of at least becoming an Asian currency.Much of the rest of Asia is clamoring for a monetary regime to be strengthened with a vehicl

    June 23, 2017 10:47 am JST
  • Itochu, Lippo team up to run Southeast Asian hospitals

    TOKYO -- Itochu will join hands with Indonesian conglomerate Lippo Group to operate hospitals in Southeast Asia, aiming to capitalize on the region's growing demand for advanced medical services offered by the private sector.The Japanese trading hou

    June 23, 2017 02:55 am JST
  • Philippines, Indonesia, Malaysia create counter-terrorism axis

    MANILA -- The Philippines, Indonesia, and Malaysia have agreed to step up joint counter-terrorism efforts after the month-long siege of Marawi on Mindanao in the southern Philippines confirmed cross-border activity among Southeast Asian militants li

    June 23, 2017 12:58 am JST
  • Indonesia's 7-Eleven operator to shut all stores

    JAKARTA -- Modern Internasional, the parent company of Indonesia's 7-Eleven franchise operator, on Thursday said it would close all of the unit's convenience stores by June 30 due to "limited resources to support operations."The announcement comes l

    June 22, 2017 09:39 pm JST
  • Record foreign reserves move Indonesia past 'fragile' status

    SINGAPORE -- With the rupiah strengthening against major currencies and the country's foreign reserves soaring to a record high in May, Indonesia hopes to leave behind the "fragile five" moniker given to several emerging economies heavily dependent

    June 22, 2017 01:14 pm JST
  • Learning the lessons of the Asian financial crisis

    BANGKOK/JAKARTA/MANILA In June 1997, Sirivat Voravetvuthikun found himself selling sandwiches on the streets of Bangkok. The former high-flying stock investor had lost everything when his project to build luxury condos went belly-up.At a loss for ho

    June 22, 2017 10:00 am JST
  • Asia's financial safety net is a work in progress

    TOKYO In early May, the Asian Development Bank celebrated its 50th anniversary at its annual meeting in Yokohama, a port city south of Tokyo. Finance ministers and central bankers from the Association of Southeast Asian Nations, China, Japan and Sou

    June 22, 2017 10:00 am JST