By Reuters Staff
(Adds details, comments from the head of BKPM)
JAKARTA, April 26 (Reuters) - Foreign direct investment (FDI) into Indonesia rose 14% in rupiah terms in the first three months of 2021 on the year, data from investment board BKPM showed on Monday.
FDI stood at 111.7 trillion rupiah ($7.72 billion) for the period from January to March, it added.
Including domestic investment, total direct investment in the first quarter amounted to 219.7 trillion rupiah, up 4.3% from the year-earlier period.
“This shows things have begun to stabilise,” the board’s chief, Bahlil Lahadalia, told an online news conference.
“This shows the trust the world has for Indonesia and foreign investors’ activities have begun to normalise and have begun to adapt with the development of the COVID-19 pandemic.”
5 Min Read
LONDON (Reuters) - Stocks gave up early gains on Monday as confidence that economies are recovering rapidly was overshadowed by caution over the speed of the market’s rally and ahead of a U.S. Federal Reserve policy meeting.
FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York, U.S., February 16, 2021. REUTERS/Brendan McDermid/File Photo
The start to the week was quiet as investors refrained from taking on large positions before a two-day Fed meeting that will begin on Tuesday and the impending release of quarterly gross domestic product numbers for the United States.
Russia’s rouble touches five-week high EMRG currencies hit 2-month high on weak dollar
April 26 (Reuters) - A weaker dollar lifted emerging market currencies to two-month highs on Monday, helping Turkey’s lira stabilise after it fell to a near all-time low on worries about souring U.S. relations and a dovish policy under a new central bank chief.
The lira, among the worst performing EM currencies this year, had sunk as much as 1.3% to 8.48 per dollar earlier in the session - its closest to a record low of 8.58 hit in November.
It was last trading up at the 8.3-per-dollar level, with data showing an improving business confidence among Turkish manufacturers in April.
2 Min Read
KUWAIT, April 26 (Reuters) - Kuwait’s sovereign wealth fund and state-owned Kuwait Petroleum Corporation (KPC) reached an agreement under which KPC will pay 8.25 billion Kuwaiti dinars ($27.44 billion) in accrued dividends over 15 years, two sources said.
KPC has owed for years about 7 billion Kuwaiti dinars in dividends to the General Reserve Fund (GRF), one of Kuwait’s sovereign funds, tasked with covering budget deficits.
The company and GRF have recently agreed a repayment schedule by which KPC will pay 550 million dinars ($1.83 billion) annually to the GRF during the next 15 years, said a government source and a source familiar with the agreement.
Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates throughout)
LONDON, April 26 (Reuters) - Italy’s 10-year bond yield rose to a two-month high on Monday with most other euro zone bond yields also nudging higher as a growing sense that the worst may be behind for a coronavirus-battered economy took hold.
Italy’s 10-year bond yield rose almost 4 basis points to a peak of 0.82% as prices fell and the gap over German peers widened out to 106 bps the most since early March.
Analysts noted upcoming supply as one reason for weakness in peripheral bonds, along with a feeling that a brighter outlook for the euro area could encourage the European Central Bank to slow the pace of its bond buying stimulus in the months ahead .