Welcome to Your Week in Asia.
Japanese Prime Minister Sanae Takaichi will make her first visit to India since taking office last year. The trip comes as Japanese businesses increase their investments in India, and more than 50 companies, including Suzuki Motor, Itochu and Toyota Tsusho, will accompany the prime minister.
A verdict is due in the trial of former Indonesian Education Minister Nadiem Makarim, who is accused of causing state losses through the procurement of Google Chromebook laptops and personally benefiting from Google’s investment in Gojek, the tech company he co-founded. The corruption case is one of a number sparking public concerns over a worrying trend of criminalization of public policy decisions in Indonesia.
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MONDAY
South Korea megaprojects announcement
South Korea’s presidential office will announce three “megaprojects” expected to involve massive investment in a new semiconductor production cluster in the country’s southwest. Local media have reported that Samsung Group will be a major investor, as the tech giant seeks to expand production to ride the chip boom.
FIFA World Cup knockout matches begin
After a group stage marked by mixed results for Asia-Pacific nations, the FIFA World Cup enters the first knockout round. Japan will face five-time champions Brazil on Monday in Houston, Texas, after it finished as runner-up in its group, while Australia will play fellow group stage runner-up Egypt on Friday in Dallas, Texas.
Data: Sri Lanka inflation
TUESDAY
Nadiem Makarim verdict
The Jakarta Corruption Court is scheduled to deliver its verdict in the corruption case against Makarim over the procurement of Chromebook laptops under the ministry’s school digitization program. Prosecutors are seeking an 18-year prison sentence, alleging the scheme caused $134 million in state losses. Makarim has denied any wrongdoing.
Evergrande AGM
Evergrande Property Services, a unit of the bankrupt Chinese developer, holds its annual shareholders meeting in Guangzhou. The unit’s shares plunged this past week after it revealed that talks on a sale of the business had “ceased,” a setback for creditors seeking to recover some of their losses.
Data: Philippines trade, China purchasing managers index, South Korea trade, Bank of Japan Tankan business survey
WEDNESDAY
Takaichi visits India
Takaichi will visit India through Friday and hold talks with her counterpart, Narendra Modi, with the two looking to deepen economic and security ties with China in mind. Takaichi was initially set to visit the northeastern state of Assam, but now she will only visit New Delhi due to time constraints.
Japan border policy changes
The Japanese government will cut passport application fees for its citizens by up to half. Meanwhile, it will raise visa issuance fees for foreign visitors for the first time in about 50 years. Fees for single-entry visas will increase from 3,000 yen ($18) to 15,000 yen, and for multiple-entry visas, from 6,000 yen to 30,000 yen. The departure tax, applied to both Japanese and foreign nationals, will also be raised from 1,000 yen to 3,000 yen.
Indonesia biodiesel blending increase
Indonesia will raise its mandatory palm oil-based biodiesel blend to B50 from B40, requiring diesel sold domestically to contain 50% biodiesel as part of efforts to reduce fuel imports and strengthen energy security. The government estimates the policy will save about $8.9 billion in diesel import costs this year and improved funding conditions amid volatile global oil prices.
Data: Indonesia inflation and trade, Kazakhstan inflation
THURSDAY
Data: South Korea inflation
FRIDAY
Data: Vietnam gross domestic product, inflation and trade