VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

High-rise buildings are seen at the Shinjuku business district during sunset in Tokyo, Japan, on Mar 7, 2017. (Photo: REUTERS/Toru Hanai) - 

VOInews, Tokyo : Consumer price inflation is expected to stay unchanged in Japan's capital Tokyo in August, ending three months of acceleration, a Reuters poll showed, suggesting the central bank may not be in a rush to hike rates.

The same poll also found factory output probably rebounded and retail sales kept growing in July, underscoring the strength of Japan's economy after better-than-expected April-June gross domestic product data last week.

Tokyo's core consumer price index (CPI) in August will likely rise 2.2 per cent from a year earlier, according to a median forecast of 16 economists, unchanged from July's pace.

A drop in gasoline and hotel accommodation costs against higher prices the year before would have cancelled out increases in utility costs, analysts said in the poll.

Moderation in the Tokyo core CPI, the leading indicator of nationwide inflation trends, could cool hawkish views for the Bank of Japan's monetary normalisation schedule after the central bank raised its short-term policy rate to 0.25 per cent in July.

The Tokyo core CPI data is due at 8.30am on Aug 30.

Meanwhile, industrial output was seen expanding 3.3 per cent month-on-month in July, rebounding from June's 4.2 per cent drop due to solid demand for semiconductor-related electronics and production machinery items, economists said.

Retail sales growth in July probably slowed, rising 2.9 per cent from a year earlier after 3.7 per cent growth in June, the poll showed.

The Ministry of Economy, Trade and Industry will announce both factory output and retail sales data at 8.50am on Aug 30.

In July, Japan's jobless rate and jobs-to-applicants ratio were forecast to have stayed flat, at 2.5 per cent and 1.23, respectively, the poll also found.

Jobs data is due at 8.30am on Aug 30//CNA-VOI

VOInews, Jakarta: Indonesia's Vice Minister of Foreign Affairs, Pahala Mansury, emphasized that the spirit of the Global South will be a key element in strengthening cooperation between Indonesia and African countries. He expressed this during a meeting with editors-in-chief in Jakarta on Thursday (22/08/2024), ahead of the 2nd Indonesia-Africa Forum (IAF) to be held in Bali from September 1-3, 2024.

According to Pahala, the close cooperation between Indonesia and African countries, which has strong historical roots dating back to the 1955 Asian-African Conference, is now being reinforced through the theme "Bandung Spirit for Africa's Agenda 2063." He stated that "the spirit of the Global South will be a differentiator in our approach to cooperation with Africa, particularly in combating discriminatory and protectionist policies, including those related to green protectionism."

The Vice Minister also highlighted the importance of the historical relationship and shared interests between Indonesia and Africa as developing countries.

"Indonesia and African countries share a common vision in self-development and building resilience in the sectors of food security, energy, health, and minerals. This forms the foundation for closer and mutually beneficial collaboration," said the Vice Minister.

Furthermore, Pahala sees great potential in African countries as a new market for Indonesia's export diversification and foreign investment.

"This cooperation opens up opportunities to strengthen economic connectivity and diplomatic relations, as well as provide tangible benefits for both parties," he said.

The 2nd Indonesia-Africa Forum is projected to result in memorandums of understanding (MoUs) worth up to US$ 3.5 billion, which are expected to drive mutual economic growth. The forum will be attended by heads of state and high-ranking officials from various African countries and will be officially opened by the President of the Republic of Indonesia, Joko Widodo.

On this occasion, Pahala also invited the media to play an active role in supporting and disseminating information related to the 2nd IAF.

"The role of the media is crucial in ensuring that the messages and goals of this forum are widely received. We hope that our media partners can contribute by expanding the reach of information through publications and coverage during the event," he concluded.