Former general Prabowo takes office in Indonesia

In at this time’s publication:

• Indonesia’s new president takes workplace

• Israel assaults Hizbollah-linked monetary establishments

• Crypto has designs on actual property

Good morning. Prabowo Subianto was sworn in as Indonesia’s president yesterday with bold plans to spice up development whereas claiming a much bigger worldwide position for south-east Asia’s largest economic system.

The previous navy normal takes over from Joko Widodo eight months after a landslide victory in February’s presidential election. His swearing-in ceremony was attended by leaders and senior officers from greater than 30 nations, together with Singapore’s Prime Minister Lawrence Wong, Philippine President Ferdinand Marcos Jr and Chinese language vice-president Han Zheng.

The inauguration caps a outstanding turnaround for Prabowo. The previous commander of the nation’s feared particular forces was dismissed from the navy and as soon as banned by the US for the alleged kidnapping of democracy activists. He has all the time denied the accusations.

Prabowo gained over hundreds of thousands of Indonesians with the backing of the extremely standard Widodo and by promising coverage continuity in addition to free faculty lunches, a large programme anticipated to value $28bn.

However he has already indicated a departure from his predecessor in all the things from authorities spending to overseas coverage. Here’s what to know about the Prabowo presidency.

Right here’s what else I’m holding tabs on at this time:

• Financial information: Malaysia experiences advance third-quarter GDP.

• Financial coverage: China’s central financial institution publicizes its one-year mortgage prime fee resolution.

• Vitality transition: Singapore Worldwide Vitality Week begins with audio system together with trade executives and power ministers from Tanzania, Cambodia, Laos, Australia and New Zealand, discussing power safety and transition plans.

• Samoa: The 2024 Commonwealth heads of presidency assembly begins in Apia, Samoa, the primary to happen on a growing Pacific Island.

5 extra prime tales

1. Companies and households in main economies are struggling to bounce again from the period of excessive inflation as precarious development prospects and political uncertainty weigh on their confidence. Though financial exercise stays comparatively agency, confidence indicators have slid sharply or remain stuck in negative territory, based on analysis for the FT.

2. Israel has launched a wave of air strikes throughout Lebanon after its navy mentioned it will goal Hizbollah-affiliated monetary establishments. The assaults will additional heighten Lebanese fears that Israel is expanding its offensive towards the Iranian-backed militant group past navy infrastructure.

3. Elon Musk’s pledge to dole out cash to registered voters who signal his petition backing free speech and the suitable to bear arms has garnered scrutiny for probably violating election guidelines. The billionaire entrepreneur, who has turn out to be one in all Donald Trump’s greatest company backers, awarded a $1mn cheque on Saturday to an audience member at a rally in Harrisburg, and one other at an occasion in Pittsburgh yesterday, as he campaigned in Pennsylvania.

• Trump’s vulgar rally: The Republican candidate fuelled additional questions on his mind-set on Saturday by delivering off-colour remarks throughout an occasion in Pennsylvania.

• Extra US election protection: Is Kamala Harris losing support among Black men? Trump has made inroads with a historically Democratic demographic that will likely be essential within the election.

4. Shares in nuclear power firms surged to document highs final week after Amazon and Google struck landmark offers to deploy the primary small modular reactors (SMRs) within the US. Buyers regarded the agreements as evidence that a nuclear renaissance is gathering pace, after a stoop following the Fukushima accident in Japan in 2011.

5. Members of Boeing’s largest labour union will vote on Wednesday whether or not to finish a expensive strike that has crippled manufacturing for greater than a month. The vote will happen on the identical day that the stricken US aircraft maker is because of report its outcomes for the third quarter. Here’s more on Boeing’s critical week.

Home & Residence

Shopping for blockchain-listed “slices” of properties is slowly gaining recognition amongst crypto followers as excessive home costs in massive cities like London and New York make shopping for actual property unaffordable for a lot of. However there are a number of points. Not least, traders complain, difficulties promoting tokens and issues arising from tenant points. Can this nascent but troubled market find its feet beyond the crypto crowd?

We’re additionally studying . . . 

• Nikon: The Japanese firm’s chipmaking tools has escaped US export restrictions to China, but the situation is volatile. “The foundations [on export controls] might get modified tomorrow,” president Muneaki Tokunari instructed the FT.

• ‘When you cough, you’re off’: Pilita Clark wonders why it’s so arduous to comply with this first rule of flu season workplace etiquette.

• Synthetic intelligence: Right here’s how AI firms are infusing their chatbots with more personality.

Chart of the day

The Japanese yen has fallen sharply in latest weeks, hitting ranges not seen since earlier than a sudden surge in the summertime that reverberated throughout world markets. Here’s what’s driving the Japanese currency’s slide.

Take a break from the information

Meet China’s most well-known foreigner: Canadian comic Mark Rowswell, higher recognized by his Chinese language identify Dashan. Rowswell rose to prominence doing stand-up in excellent Mandarin, and is now touring the nation in a Chinese language-language manufacturing of The Shawshank Redemption. “His virtually mythological standing, like many myths, is tied up within the soul of a nation,” writes Shanghai correspondent Thomas Hale in this must-read profile.