The new head of Indonesia’s free meals agency will refocus the mission of President Prabowo Subianto ’s flagship $15 billion program engulfed in a corruption scandal with an eye on budget efficiency and scaled-down plans. The National Nutrition Agency aims to spend less than the 268 trillion rupiah ($14.9 billion) budgeted for this year by focusing on remote regions, the program’s newly appointed ...
The new head of Indonesia’s free meals agency will refocus the mission of President Prabowo Subianto ’s flagship $15 billion program engulfed in a corruption scandal with an eye on budget efficiency and scaled-down plans. The National Nutrition Agency aims to spend less than the 268 trillion rupiah ($14.9 billion) budgeted for this year by focusing on remote regions, the program’s newly appointed leader Nanik S. Deyang said at an introductory briefing alongside two new deputies in Jakarta on Thursday. She replaced Dadan Hindayana, named this week as a key suspect in a corruption investigation a day after Prabowo fired him and two deputies. The two deputies were also named as corruption suspects. Read More: Prabowo Warns Over Graft as $15 Billion Food Program Probed “We will improve the quality so we might not chase the target of reaching 82.9 million recipients, but instead focus on how can these kitchens provide healthy, nutritious food,” Deyang said. Prabowo abruptly dismissed the three officials Tuesday night, citing performance issues such as food poisoning and operational challenges. By Wednesday morning, prosecutors had conducted a search of the agency’s office. Hindayana and the two others are suspected of corruption related to alleged irregularities in the management of the free nutritious meals program in 2025-2026, Syarief Sulaeman Nahdi, director of Investigations at the Special Crimes Unit of Indonesia’s Attorney General’s Office, said at a briefing Wednesday. Deyang’s directions signal a departure from Hindayana’s expansive roll-out of the program that included the possibility of providing free meals to the children of Indonesian migrant workers in Saudi Arabia. Deyang announced a “moratorium” on new free meal kitchens as the agency tightens the screening process of applicants. The program will promote the use of existing facilities such as school canteens instead of building new kitchens, she said. The agency will also explore alternative funding sourc...
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
Peter Piot co-discovered Ebola in 1976. Now, almost 50 years on, a new outbreak is spreading through parts of Central Africa. He discusses why he expects the outbreak to continue. (Source: Bloomberg)
Peter Piot co-discovered Ebola in 1976. Now, almost 50 years on, a new outbreak is spreading through parts of Central Africa. He discusses why he expects the outbreak to continue. (Source: Bloomberg)
TSMC (NYSE:TSM) has started mass production of 2nm chips using nanosheet Gate-All-Around transistors. The company is currently the only manufacturer producing this level of advanced silicon at scale. TSMC plans to increase 2nm wafer capacity by year end to support AI and high performance computing demand. TSMC enters this 2nm phase with strong recent share price momentum, with the stock at $444.92...
TSMC (NYSE:TSM) has started mass production of 2nm chips using nanosheet Gate-All-Around transistors. The company is currently the only manufacturer producing this level of advanced silicon at scale. TSMC plans to increase 2nm wafer capacity by year end to support AI and high performance computing demand. TSMC enters this 2nm phase with strong recent share price momentum, with the stock at $444.92 and up 4.7% over the past week, 12.8% over the past month and 39.2% year to date. Over longer...
India is considering selling as much as a 2% stake in Hindustan Zinc Ltd. in a transaction that could raise up to 50 billion rupees ($525 million), according to people familiar with the matter. The Department of Investment and Public Asset Management , which is under the Finance Ministry, aims to launch the process this month or in July, the people said, asking not to be identified because the inf...
India is considering selling as much as a 2% stake in Hindustan Zinc Ltd. in a transaction that could raise up to 50 billion rupees ($525 million), according to people familiar with the matter. The Department of Investment and Public Asset Management , which is under the Finance Ministry, aims to launch the process this month or in July, the people said, asking not to be identified because the information is private. ICICI Securities Ltd. , Axis Capital Ltd. , IIFL Capital Services Ltd. and HDFC Securities Ltd. are advising the government on the transaction, the people said. Deliberations are ongoing and details of the offering, including its timing and size, could still change, the people said. Representatives for DIPAM, Hindustan Zinc and the banks didn’t immediately respond to requests for comment. The government has stepped up efforts to boost revenue from selling stakes in state-owned assets. Last week, it raised about $531 million from the sale of a 2% stake in Coal India Ltd. , the country’s largest coal producer. Earlier this week, India raised $450 million by selling a 6% stake in NHPC Ltd . It’s also planning an offering of a 2% stake in Life Insurance Corporation of India that could raise as much as 100 billion rupees ($1 billion), people familiar with the matter have said . The government last sold a 1.6% stake in Hindustan Zinc in November, raising about 35 billion rupees. The shares were priced at 505 rupees each. Since then, the stock has gained about 24%, increasing the value of the remaining holding. Vedanta Ltd. , the company’s controlling shareholder, owned 60.71% of Hindustan Zinc as of March 31, while the government’s holding stood at 27.92%, according to stock exchange filings. For the latest news on equity capital markets activity in the Asia-Pacific region, follow the channel or visit NI BFWECMAS . To subscribe to ECM Watch , Bloomberg’s daily roundup of news from around the region, click here .
Nvidia Corp . has certified the three biggest memory chipmakers to supply their most advanced high-bandwidth products for the US company’s AI accelerators, Chief Executive Officer Jensen Huang said. The decision marked the go-ahead for SK Hynix Inc. , Samsung Electronics Co. and Micron Technology Inc. to begin mass production and supply of HBM4, the latest generation of chips that go into Nvidia’s...
Nvidia Corp . has certified the three biggest memory chipmakers to supply their most advanced high-bandwidth products for the US company’s AI accelerators, Chief Executive Officer Jensen Huang said. The decision marked the go-ahead for SK Hynix Inc. , Samsung Electronics Co. and Micron Technology Inc. to begin mass production and supply of HBM4, the latest generation of chips that go into Nvidia’s AI accelerators. The trio, which between them dominate the global market for storage semiconductors used in computing, have competed fiercely for a slice of that business. “All three vendors have been qualified,” Huang told reporters upon arriving in Seoul for a multi-day visit. “All three vendors are in production, and they’re all racing to support Vera Rubin,” he added, referring to Nvidia’s latest AI chip. Huang is scheduled to host a dinner for some of his biggest Korean suppliers on Friday, and attend a baseball game over the weekend.
In the current environment, remaining heads down has diminishing returns; at some point, you have to make some noise just to remind the market you exist.
In the current environment, remaining heads down has diminishing returns; at some point, you have to make some noise just to remind the market you exist.
Dragos Condrea/iStock via Getty Images Data center developer Switch is said to be in talks to raise billions of dollars at a valuation of at least $50B. Brookfield Asset Management ( BAM ), KKR ( KKR ), and other private equity and institutional investors have been in talks to invest in the round, The Information reported on Thursday, citing people with knowledge of the deal. The fundraising r...
Dragos Condrea/iStock via Getty Images Data center developer Switch is said to be in talks to raise billions of dollars at a valuation of at least $50B. Brookfield Asset Management ( BAM ), KKR ( KKR ), and other private equity and institutional investors have been in talks to invest in the round, The Information reported on Thursday, citing people with knowledge of the deal. The fundraising round could possibly set up Switch for an initial public offering, which could come as early as next year, according to the report. Goldman Sachs ( GS ) and JP Morgan ( JPM ) bankers are working with Switch to help with the fundraise, the report said. Switch was founded in 2000 by CEO Rob Roy, and is headquartered in Las Vegas, Nevada. The company counts Nvidia ( NVDA ) Fedex ( FDX ), Tesla ( TSLA ) and Logitech ( LOGN ) among its clients, per its website. More on KKR & Co., Brookfield Asset Management Ltd. KKR & Co. Inc. (KKR) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript KKR: A Best-In-Class Compounder At A Discount Brookfield Asset Management's Price Dip Is A Rare Gift Private credit names decline as Cliffwater's Q2 redemption requests cast fresh doubts on industry health The 10 least attractive large-cap financial stocks in the U.S