The local and thriving ride-hailing market in Southeast Asia is dominated by local startups. Foreign counterparts fail to gain significant market share. The latest proof is Uber Technologies Inc.'s decision to sell its operations and assets in the Southeast Asian region to Singapore-based technology company (but originally founded in Malaysia) Grab. Through this consolidation-move, Uber will obtain a 27.5 percent stake in the combined entity, while Uber's chief executive officer will join the board of Grab.

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On 26 March 2018 Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website over the last seven days. Most of the topics involve economy and market-related topics such as Indonesia's GDP growth, the impact of trade war concerns on stocks, Indonesia's growing medical device industry, the free trade deal with Australia, IPO's, and much more.

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Many Asian stocks are in deep red territory dragged down by a 3.49 percent decline of Japan's Nikkei 225 index in the morning of Friday (23/03). The Nikkei 225 is responding to plunging stocks on Wall Street overnight where the Dow Jones Industrial Average tumbled 2.9 percent, while both the S&P 500 index and Nasdaq Composite dropped 2.5 percent, each. All three benchmark US indexes suffered their biggest drops since 8 February 2018.

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As was widely expected by markets, the Federal Reserve raised its key interest rate to the range of 1.50 - 1.75 percent, which is the highest level since 2008, at the March 2018 monthly policy meeting on Wednesday (21/03). The rate hike was already priced in as few expected a different decision, hence most Southeast Asian stock indexes are up on Thursday (22/03), including Indonesia's benchmark Jakarta Composite Index that rose 0.19 percent to 6,324.78 points in the first trading session.

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