International News 17/04

April 17, 2024 No. 57

Commercial Aviation Restrictions in the Middle East Region Due to Conflict.

The Ministry of Foreign Affairs (MoFA) and Indonesian representatives in the Middle East are closely monitoring the situation after Israel's attack on Iranian diplomatic facilities in Damascus and Iran's subsequent retaliation. Due to the escalating security situation, several Middle Eastern countries have restricted or closed their airspace for commercial and other flights. Indonesian citizens who plan to travel through or transit in Middle Eastern countries should anticipate flight disruptions and contact their respective airlines for updates. The Ministry of Foreign Affairs (MoFA) also advises Indonesian citizens to postpone travel plans to Iran and Israel. In case of an emergency, individuals should contact the nearest Indonesian Representative hotline or use the Ministry of Foreign Affairs Safe Travel mobile application.


Samsung has overtaken Apple to become the top global mobile phone manufacturer.

According to research firm IDC, Apple's smartphone shipments declined by around 10% in Q1 2024. This drop in sales is due to rising competition from Android smartphone manufacturers who are competing for the top spot. In contrast, global smartphone shipments increased by 7.8% to 289.4 million units during the same period, with Samsung overtaking Apple and becoming the market leader with a 20.8% market share. In the previous quarter, Apple briefly held the top spot, but Chinese brands like Huawei gained market share, causing Apple to drop to second place with a 17.3% market share. Xiaomi, a leading smartphone manufacturer in China, secured the third position with a 14.1% market share. Samsung's latest flagship smartphone series, the Galaxy S24, saw a surge in sales, shipping over 60 million phones in the first quarter. Apple shipped 50.1 million iPhones in the same period, down from 55.4 million.


The Bank of China (PBOC) is maintaining its key rate.

As expected, China's central bank, the PBOC, has kept its interest rates at 2.50% for its one-year medium-term lending facility (MLF). The PBOC extended maturing medium-term loans and drained some cash from the banking system through bond instruments. The operation led to a net withdrawal of 70 billion yuan from the banking system, with 170 billion yuan worth of MLF loans set to expire this month. In addition, the PBOC injected 2 billion yuan through seven-day reverse repos, maintaining the borrowing cost at 1.80%. According to a Reuters poll of 31 market analysts, the PBOC was expected to keep the MLF rate unchanged, which further confirms the decision.