News about finance, currency, securities 4

 Indonesian economy grew by 3.69% After the first contraction in two decades in 2020, Southeast Asia's largest economy has recovered with a growth rate of 3.69% in 2021. Data released on Monday (February 7) by the Indonesian Government showed that the country's GDP in 2021 increased by 3.6%, recovering from a decrease of 2.07% in 2020. Before that, the Ministry of Finance Indonesia is forecast to grow at 3.7%. However, the official results are still below pre-pandemic levels of 5% per year. Indonesia's economic growth accelerated in the last quarter of last year, reaching 5.02%, after restrictions were eased and exports hit record highs, helped by rising commodity prices. The Reuters poll had expected fourth-quarter growth of 4.9%. People walking inside a shopping mall in Indonesia. Photo: Reuters People walking inside a shopping mall in Indonesia. Photo: Reuters Indonesian GDP growth is expected to accelerate this year, but concerns remain as the country enters a third Cov...

Facebook is difficult to reform to overcome the crisis Unlike 2012, Facebook's bet on the metaverse this time is unlikely to help them improve revenue in the short term. In 2012, before the IPO, Facebook was in big trouble. The company's revenue growth slowed, costs skyrocketed, and rivals gradually got ahead as it shifted to smartphones and other mobile devices. However, in just two years, the company turned the tide. In the first 3 months of 2014, their revenue increased 72% compared to the same period last year. Profit also tripled after restructuring to follow the "mobile first" strategy, prioritizing mobile devices. This successful move became one of Facebook's legends, contributing greatly to its later dominance. A decade later, Facebook, now known as Meta Platforms, finds itself in a similar situation. In the middle of last week, it announced last quarter profits fell, user growth slowed and the revenue outlook for this quarter was bleak. These news sparked...

 Things to consider before quitting Redefine the real reason you want to leave and review your salary and debt situation before quitting. No matter what the reason you quit your job - fatigue, need more flexible hours, a higher salary, or a change to a whole new field - it can have a big financial impact. "Before you leave your job, there's a lot to prepare. And after you leave, you'll have to assess the short-, medium- and long-term effects," said Isabel Barrow, director of financial planning at Edelman. Financial Engines commented. Redefining the reason for wanting to leave Leaving a job is a decision that needs careful financial consideration before making. Photo: Reuters Leaving a job is a decision that needs careful financial consideration before making. Photo: Reuters Make sure you quit your job for the right reason. "It's not always better to be in a new place," says Tami Simon, business leadership consultant at Segal. "Take the time to think...

 Technology stocks over time will surely win Wall Street investors think that the period of pouring money into technology stocks is easy to sit idle waiting for prices to rise. After a week of massive price volatility, investors are rethinking their approach to tech stocks. They sifted through the winners and losers more closely to find companies that could thrive this year. The Wall Street Journal quoted some investors as saying that the time for stocks to both increase in price and at the same time attract crowds of fans is over. Some companies have fallen victim to rising interest rates, changing consumer tastes, and overpriced valuations. Companies that failed to meet investors' high expectations paid a heavy price in the market. Over the past three years, shares of technology giants such as Meta Platforms - the parent company of Facebook, Apple, Amazon, Netflix and Alphabet - the parent company of Google, have all made big gains. But since the beginning of the year, all 5 stoc...

 World gold price soars Fear of inflation and geopolitical risks pulled the world gold price to a one-week high in session 7/2. At the end of the first session of the week, each ounce of world gold for immediate delivery increased by nearly 12 USD to 1,820 USD. During the session, the price at one point rose to $ 1,824 – the highest since January 27. Gold prices rose as inflation concerns and geopolitical risks persisted as the market waited for US inflation data to predict a move to raise interest rates by the US Federal Reserve (Fed). The world gold price yesterday reached the highest level in a week. The world gold price yesterday reached the highest level in a week. "There is buying in shelter in the market. The biggest concern right now is where inflation will go and how strong the Fed will be," said Bob Haberkorn, senior market strategist at RJO Futures. Yields on 10-year US government bonds are now near their highest since December 2019, helped by upbeat jobs data late...

 Cryptocurrency investment in Singapore increased 10 times A KPMG report shows that investment in the crypto and blockchain sectors in Singapore has hit a record, nearly touching $1.5 billion last year. The "Pulse of Fintech" report released by KPMG today says there are 82 digital currency and blockchain investments in Singapore in 2021. The total value of these deals is $1.48 billion, up from $1.48 billion. 110 million USD in 2020. KPMG forecasts that crypto investment inflows in Singapore will continue to be strong this year, even as authorities impose more regulatory scrutiny. Last month, the country's central bank also asked cryptocurrency companies to limit advertising their services to the public. The licensing process to legally operate a cryptocurrency business in Singapore has also become increasingly difficult, causing most applicants to falter. “Cryptocurrency and blockchain are expected to remain very hot investment areas in 2022, as many crypto companies look...

 The richest throne in Asia changes hands Gautam Adani - an Indian billionaire who owns a business empire from ports, mining to green fuel - has just replaced Mukesh Ambani. According to the Bloomberg Billionaires Index, the 59-year-old billionaire's fortune touched $88.5 billion on February 7, surpassing fellow countryman Ambani with $87.9 billion. With a fortune of nearly 12 billion USD since the beginning of the year, Adani is also the world's best-earning billionaire this year. Adani made its fortunes from coal and is actively expanding beyond fossil fuels. He has encroached on renewable energy, airports, data centers and defense contractors. These are priority areas considered by Prime Minister of India, Narenda Modi, to be important for long-term economic construction and development. Gautam Adani - Chairman and Founder of Adani Group. Photo: Reuters Gautam Adani - Chairman and Founder of Adani Group. Photo: Reuters "Adani Group has discovered and entered all these a...

 China has just completed 60% of its commitment to buy US goods The US government and businesses are frustrated that China has not bought enough goods under the trade agreement under former President Donald Trump. Bloomberg analyzed new data released on February 8 by the US Department of Commerce, showing that China only bought 62.9% of goods out of the $ 200 billion in goods and services that it pledged to buy more from the US until now. the end of 2021, according to the trade agreement signed in early 2020. Energy is the sector most lacking, with only a third committed. Meanwhile, achieving the highest completion rate is for agricultural products, with 83%. Manufactured goods - the field that China is committed to having the largest increase in has only now reached nearly 65% ​​of the target. Chinese Vice President Liu He and former US President Donald Trump in the signing ceremony in 2020. Photo: Reuters Chinese Vice President Liu He and former US President Donald Trump in the s...

 U.S. household debt grows at the fastest rate in 15 years Americans massively borrowed to take advantage of low interest rates before the expectation that the Fed would raise interest rates in 2022. A year of massively buying cars and houses has made Americans carry a significant amount of debt. Figures from the New York Fed show that the country's household debt increased by $1 trillion last year. This is the largest annual increase since 2007. Americans have borrowed heavily to take advantage of low interest rates ahead of expectations that the Fed will raise interest rates in 2022. In the fourth quarter alone, household debt increased by $333 billion to $15.580 billion, the largest quarterly increase since 2007. Of which, mortgage debt and auto loans contributed. great. "The total balance of new home and auto mortgage loans will increase sharply in 2021, matching the strength of home and auto prices," said Wilbert Van Der Klaauw, senior vice president of the New York ...

 From pizza delivery man to millionaire Alomari took 7 years, built 4 businesses to reach a fortune of millions of dollars after financial distress and near bankruptcy. One day in January 2012, Ahmed Alomari (Michigan, USA) drove under the snow to complete the last 3 pizza deliveries, ending a 15-hour shift. Suddenly, his wife - Nancy - called to say that the house had run out of oil, so the heater was not working. Their debit card was used for an overdraft and the oil company refused to provide the service without paying the bill. "What are we going to do tonight?" Nancy asked. She was pregnant with her first child at the time. "I just received $2 for my last order and made $80 today," Ahmed replied. That cold night in 2012 was a moment Ahmed would never forget. It was in the moment of stalemate that he thought he had to get rid of the "I'm the victim" mentality. You cannot become rich by making excuses and perpetuating bad habits. His point is "...