ChatGPT maker OpenAI CEO Sam Altman gets Indonesia’s 1st Golden Visa

Sam Altman, chief executive officer of OpenAI, at an event in Seoul, South Korea, on Friday, June 9, 2023. Bloomberg | Bloomberg | Getty Images Indonesia has awarded OpenAI Chief Executive Sam Altman its first “Golden Visa” — a week after the program was launched to attract foreign investment to Southeast Asia’s largest economy. “There … Read more

5 things to know before the stock market opens Tuesday, September 5

Here are the most important news items that investors need to start their trading day: 1. Stocks slip Stock futures were slightly lower Tuesday to start the trading week. Futures tied to the Dow Jones Industrial Average were down 8 points, or less than 0.1%. S&P 500 futures slid 0.1%, while Nasdaq 100 futures fell 0.3%. Those moves come after … Read more

Myanmar won’t be allowed to lead ASEAN in 2026, in blow to generals

Philippine’s President Ferdinand Marcos, Singapore’s Prime Minister Lee Hsien Loong, Thailand’s Permanent Secretary of the Ministry of Foreign Affairs Sarun Charoensuwan, Vietnam’s Prime Minister Pham Minh Chinh, Indonesia’s President Joko Widodo, Laos’ Prime Minister Sonexay Siphandone, Brunei’s Sultan Hassanal Bolkiah, Cambodia’s Prime Minister Hun Manet, Malaysia’s Prime Minister Anwar Ibrahim and East Timor’s Prime Minister … Read more

Indonesia’s China-backed high-speed train sparks concerns of debt trap

Indonesia is starting trial runs for its first high-speed train, which will connect the capital Jakarta to a neighboring city of Bandung, after years of delays and cost overruns plagued the project. Bloomberg | Bloomberg | Getty Images A $7.3 billion high-speed electric rail line between Indonesia’s two biggest cities is set to be launched … Read more

Asia food inflation fears rise as rice prices surge

An undated stock photo of a market stall with piles of many varieties of Vietnamese rice in Ho Chi Minh city grocery. Vietnam is one of the largest exporters of quality rice, Asia’s most important staple food. Bicho_raro | Istock | Getty Images A perfect storm may be brewing in Asia. Rice prices surged to … Read more

ASEAN moves closer to economic unity with new regional payments system

Indonesian President Joko Widodo makes a speech during the Association of Southeast Asian Nations (ASEAN) Foreign Minister’s Meeting in Jakarta, Indonesia on July 14, 2023. Murat Gok | Anadolu Agency | Getty Images A new regional cross-border payment system recently implemented by Southeast Asian nations could deepen financial integration among participants, bringing the ASEAN bloc … Read more

A ban ends dog and cat meat trade in Sulawesi

The Tomohon Extreme Market was once a top tourist attraction in the Indonesian province of North Sulawesi — a live animal market filled with everything from fileted pythons to skewered bats and rats. But the market drew international condemnation in 2018 after animal activists shot videos of dogs and cats being brutally beaten and blowtorched … Read more

A new private island opened near Singapore and Batam

Travelers from Singapore will soon have a new vacation option — one that doesn’t require a flight. A new Indonesian private island, named ONE°15 Marina Nirup Island, opened in July nine miles south of Singapore. The launch — the first of two phases — included the opening of a restaurant and bar, ferry terminal and … Read more

Asia could lose $500 billion GDP from pandemic school closures: Oxford

Elementary students sit inside dividers as preventive measure against Covid-19, as they attend physical classes at Longos Elementary School on Nov. 15, 2021 in Alaminos, Philippines. Ezra Acayan | Getty Images News | Getty Images School closures during the pandemic could erase over $500 billion of potential economic growth from a handful of Asian countries, … Read more

Central banks in Asia could soon diverge from the Federal Reserve: Nomura

A food stall in Gwangjang Market in Seoul as South Korea’s central bank is seen to be among the first in the region to cut its benchmark interest rate. Francois Lochon | Gamma-rapho | Getty Images Central banks in Asia could start cutting rates earlier than the Federal Reserve, economists at Nomura predicted. A dovish … Read more