NNA Asia top stories Friday, Nov. 30
TOKYO, NNA – The following are the top stories from NNA Asia for Friday, Nov. 30.
Japan Oct factory output rebounds sharply after storm-hit Q3
TOKYO, NNA - Japan's industrial production and shipments rebounded sharply on month in October after a slump in the July-September quarter caused by bad weather, leading to the first year-on-year drop in inventories in just over a year, preliminary data released Friday by the Ministry of Economy, Trade
and Industry showed.
This prompted METI to upgrade its assessment for the first time in 11 months despite the escalating U.S.-China trade dispute. “Industrial production is picking up gradually,” it said, dropping the reference to “some soft spots.”
The index of Industrial Production rose 2.9% on month in October to 105.9, the highest level under the new 2015 base year adopted recently.
It was the first month-on-month increase after an upwardly revised 0.4 percent drop in September (-1.1 percent under the 2010 base year), coming in stronger than the median economist forecast for a 1.2 percent rise.
Indonesia digital economy to be biggest in SE Asia by 2025: Google/Temasec study
JAKARTA, NNA – Indonesia’s digital economy is expected to surge to $100 billion by 2025 from $27 billion now, the largest in Southeast Asia, according to a report by Google LLC and Singapore’s sovereign wealth fund Temasec Holdings Pte. released earlier this month.
Southeast Asia’s internet economy totaled $72 billion in 2018 and is estimated to exceed $240 billion by 2025, the report said.
“The Indonesian ‘digital archipelago’ is firing on all cylinders,” it said. Backed by the largest internet user base in the region -- 150 million users in 2018 -- Indonesia has the largest internet economy in the region at $27 billion this year and is growing at the fastest compound annual rate of 49 percent between 2015 and 2018, it added.
Japan’s Iseki to make, sell mid-sized tractors in India via local firm TAFE
NEW DELHI, NNA – Japanese machinery maker Iseki & Co. has signed a contract with Tractors and Farm Equipment (TAFE) in India to produce and sell compact tractors in the local market.
In the world’s largest tractor market, Iseki will offer product technology to TAFE, the second-largest agricultural machine maker in India, in a bid to catch up with its Japanese rivals Kubota Corp. and Yanmar Co. Iseki has no plans to invest in TAFE.
Initially, the Iseki-TAFE alliance will sell finished products imported from other countries and gradually increase local assembly and parts procurement, an Iseki official told NNA.
Iseki has subsidiaries in Belgium, France, Britain, Thailand and Indonesia. It also sells its machines in China and the United States.