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VOINews.id: The absorption of the Indonesian government's electric vehicle (EV) subsidy program in 2023 reached Rp78 billion (US$5 million) and covered the purchase of 11,532 electric motorbikes, Indonesian Minister of Industry, Agus Gumiwang Kartasasmita revealed on Wednesday (03/01/2024). Speaking at his office, the minister noted that the figure was still far below the target of subsidizing the purchase of 200,000 electric motorcycles with a budget of Rp1.4 trillion (US$90.2 million). He then emphasized the importance of ensuring that EVs are powered by durable and fast-charging batteries to attract more people to avail the subsidy.

The logo of the Paris 2024 Summer Olympics in Saint-Denis, Paris, France. (ANTARA/AFP/Bertrand Guay/aa) - 

Voinews, Jakarta - As the new year has arrived, the highly anticipated multi-sport event Paris 2024 Summer Olympics is getting closer.

The event will be an opportunity for Indonesian athletes to prove themselves and excel.

The 2024 Olympics will become the 33rd edition of the games after modern Olympic games were introduced in 1896. It is the third time for France to host the multi-sport event after previously in 1900 and 1924.

So far, five Indonesian athletes have secured a spot to compete in the event that will take place from July 26 to August 11.

Nevertheless, there are still opportunities for other athletes to join archers Arif Dwi Pangestu and Diananda Choirunisa,

gymnast Rifda Irfanalutfi, and climbers Desak Made Rita and Rahmad Adi Mulyono to compete in the event held every four years.

The Ministry of Youth and Sports, Indonesian Olympic Committee (KOI), and National Sports Committee of Indonesia (KONI) are targeting more athletes to qualify for the Paris 2024 Olympics.

Earlier, Indonesia had sent 28 athletes and one alternate athlete during the Tokyo 2020 Olympics. At the event, Indonesia finished with five medals: one gold, one silver, and three bronze.

"The hope is that there will be more athletes who qualify for the Paris Olympics compared to the Tokyo 2020 Olympics," Secretary General of KONI Tb. Lukman Djajadikusuma told ANTARA.

Opportunities for Indonesia

Indonesia still has opportunities to have more athletes qualify for the multi-sport event, as various important tournaments are due to be held to collect points and qualifiers for several mainstay sports, including badminton and weight lifting.

Djajadikusuma stated that all relevant parties, including the government and sports federations, are focusing on preparations for the Olympics.

For several sports, their athletes have already qualified for the Olympics, while in other sports, the qualifiers had yet to be completed.

He affirmed that hopes are pinned high on Indonesia being able to continue its medal-winning tradition, both in badminton and weightlifting. In addition, medals are expected to be secured in rock climbing, as some Indonesian athletes are world record holders, he noted.

For badminton, the Olympic qualification period (Race to Paris) commenced on May 1, 2023, and will conclude on April 28, 2024. The Race to Paris Ranking List as per April 30, 2024, will be used to determine the initial qualifying list.

The total quota places for badminton is 172 comprising 86 for men and 86 for women. Each National Olympic Committee (NOC) has a maximum of eight quota places for men and a maximum of eight quota places for women.

So far, several Indonesian top badminton athletes, such as Jonatan Christie, Anthony Sinisuka Ginting, Gregoria Mariska Tunjung, Fajar Alfian, Muhammad Rian Ardianto, Bagas Maulana, Muhammad Shohibul Fikri, Apriyani Rahayu, and Siti Fadia Silva Ramadhanti, have big opportunities to secure a spot in the Olympics since their ranks in the Race to Paris list are relatively safe in the top 10.

Furthermore, for weightlifting and rock climbing, Indonesia's top athletes, such as Eko Yuli Irawan, Veddriq Leonardo, and Kiromal Katibin, need to participate in several crucial tournaments to secure more points to qualify for the Paris 2024 Olympics.

Preparation

Not only through intensive coaching and training but the athletes are also preparing themselves by partaking in various elite tournaments.

The COVID-19 pandemic, indeed, also played a role in making these athletes to always be in a ready mode because several competitions, including multi-sport events, had to be postponed and then carried out at relatively short intervals.

For instance, the Hangzhou 2022 Asian Games, held in 2023, took place not long after the Tokyo 2020 Olympics that was held in 2021. The two multi-sport events were earlier postponed due to the COVID-19 pandemic.

The short intervals between competitions become a challenge for athletes, as they have to stay in good mental and physical condition.

"The championships that are held every now and then are to improve what is still lacking, so that at the top of the championship at the Olympics, everything will be special," Head of the Indonesian Men's Singles Badminton Coach Irwansyah remarked.

Badminton athlete Jonatan Christie stated that the busy tournaments in 2023 and 2024 can be faced with thorough preparation.

He expressed optimism that the preparation would help him to perform maximally at every competition.

“There are many events going on, so it drains your energy and mind, and the muscles you use can face problems too. I think there are many aspects that make things possible, so then again, preparation for the event is the most important," he remarked.

A sense of determination in the athletes and administrators coupled with the prayers of the people are expected to ignite the spirit, so that more familiar names from Indonesia will be able to compete in Paris.

Apart from that, Indonesian young athletes are also expected to be able to create new history for the country//ANT-VOI

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 29, 2023 Photo - 

SYDNEY :Global stock markets were lacklustre on Wednesday, while the dollar stayed strong, as market optimism about early U.S. interest rate cuts ebbed and the latest escalation of hostilities in the Middle East weighed on sentiment.

MSCI's broad index of world equities was 0.1 per cent lower, following a 0.8 per cent fall on Tuesday, marking a weak start to 2024 that may herald the end of the blistering gains for stocks and bonds that began late last year.

Europe's STOXX 600 share index opened flat and Asia Pacific shares outside Japan fell 1.3 per cent.

Caution crept in ahead of the release of minutes from the U.S. Federal Reserve's December meeting, due at 1900 GMT on Wednesday.

Fed officials in December predicted 75 basis points (bps) of rate cuts in 2024, driving money market bets for around double that amount of cuts that prompted a cross-market year-end rally.

Futures markets still see a 70 per cent chance of the Fed starting to lower U.S. borrowing costs from their current 22-year high from March.

"The market has already executed a pivot on the Fed’s behalf," strategists at Rabobank said in a research note, adding that the minutes "may still reinforce" the views of policymakers who are less committed to imminent cuts.

Reuters analysis of Fed policymakers' recent comments shows that, while many of them have noted improvements on inflation and some easing of wage pressures, most have not said monetary easing is urgent.

Important U.S. data this week should clarify the outlook further, with ISM's manufacturing survey, due later on Wednesday, set to signal whether the central bank has any new signs of an economic slowdown to worry about. The market-moving U.S. nonfarm payrolls report is due on Friday.

Kyle Rodda, an analyst at Capital.com, said the combination of event risk and thin liquidity at the tail end of the holiday raises the prospect of exaggerated moves in markets and heightened volatility this week.

"All that's required is a catalyst, which could come from the data flow in the coming days," Rodda said.

Futures markets tipped Wall Street's S&P 500 index to open flat later in the day after Tuesday's 0.6 per cent fall in a retreat from record highs.

The tech-focused Nasdaq slid 1.6 per cent on Tuesday, dragged lower by a nearly 3 per cent drop in Apple to a seven-week low after Barclays downgraded its shares.

It was also set to flatline on Wednesday, judging by futures trade.

A climb in U.S. Treasury yields as the government debt securities sold off also continued on Wednesday. The benchmark 10-year yield, a barometer of expected long-term borrowing costs, briefly popped above 4 per cent on Tuesday.

It was last trading around 2 bps higher at 3.96 per cent.

Germany's 10-year Bund yield climbed 3 bps to 2.089 per cent, rising for the fourth consecutive session.

Market sentiment was souring after tensions in the Middle East ratcheted up.

Israel on Tuesday killed Hamas deputy leader Saleh al-Arouri in Lebanon's capital Beirut, Lebanese and Palestinian security sources said, raising the risk of war in Gaza spreading well beyond the Palestinian enclave.

Denmark's Maersk and German rival Hapag-Lloyd said on Tuesday their container ships would continue to avoid the Red Sea after a series of attacks on vessels blamed on Houthi militants.

The U.S. dollar, which climbed 0.8 per cent against an index of major currencies overnight to a two-week high, held steady at 102.1.

Brent crude oil futures,, were 0.2 per cent lower at $75.69 a barrel as expectations of ample supply outweighed concerns about disruptions to Red Sea shipping routes [O/R].

Spot gold rose 0.3 per cent to $2,065.39 an ounce//CNA-VOI

U.S. dollar banknote is seen in this picture illustration taken May 3, 2018. REUTERS/Dado Ruvic/Illustration/File Photo - 

LONDON/SINGAPORE :The dollar stayed near a two-week high on Wednesday after jumping the previous day, its rally underpinned by elevated U.S. Treasury yields and a cautious turn that weighed on Wall Street.

Trading was relatively subdued, with Japanese markets shut for a holiday and investors waiting for important U.S. economic releases later in the day, including minutes from the Federal Reserve's December meeting.

The euro was last up 0.12 per cent against the dollar at $1.0954. It fell 0.95 per cent on Tuesday, its biggest daily drop since July.

That helped push the dollar index, which tracks the currency against six major peers, slightly lower to 102.18, although it held on to almost all of the previous day's gains of 0.86 per cent.

A surge in risk appetite at the end of last year, sparked by a drop in inflation and a dovish tilt in the Federal Reserve's December policy meeting, fuelled bets for U.S. rate cuts in 2024, toppling the greenback and sparking a rally in Treasuries and stocks. The dollar index hit a five-month low of 100.61 last week.

That buoyant mood failed to carry over into the New Year, with the S&P 500 and Nasdaq Composite closing lower on their first trading session of 2024, dragged down by big tech names [.N]. Treasury yields jumped as prices fell, boosting the attractiveness of U.S. debt and propelling the dollar higher.

"I think that what happened in the latter half of December was just not justified," said Alvin Tan, head of Asia FX strategy at RBC Capital Markets.

"The markets got carried away with this view of imminent Fed cuts in the first quarter, that took the dollar off. So I do think that this reversal can carry on for a bit longer."

The greenback was last up 0.43 per cent against Japan's yen at 142.57 to the dollar, adding to the previous day's 0.82 per cent gain.

Investors will scrutinise the minutes from the Fed's December meeting, due at 1900 GMT (2 p.m. ET), for any hints about how many rate cuts the central bank will actually carry out this year.

Data on U.S. job openings for November and a survey-based gauge of the manufacturing sector could also move markets.

"As more people come back it will be more about the data," said RBC's Tan.

The New Zealand dollar, often used as a proxy for risk appetite, was last 0.11 per cent higher at $0.6259, having slid to a two-week low of $0.6246 earlier on Wednesday.

Sterling gained 0.21 per cent to $1.2646, having slid 0.87 per cent in the previous session, its sharpest daily fall in nearly three months.

Analysts said the risk-off mood was also in part driven by concerns over escalating geopolitical tensions, after Israel killed Hamas deputy leader Saleh al-Arouri in a drone strike in Lebanon's capital Beirut on Tuesday.

"I suspect that markets (are) starting the year with finding it hard to completely ignore geopolitics," said Ray Attrill, head of FX strategy at National Australia Bank//CNA-VOI