As India's Quick Commerce Sector Expands, So Does The Competition

Indonesia said it has resolved all substantive issues in trade talks with the US and is on course to ink an agreement in late January, removing a major source of uncertainty for Southeast Asia's biggest economy.

Both countries have aligned on the "crucial issues" in their draft agreement, protecting the mutual interests of both parties, Coordinating Minister for Economic Affairs Airlangga Hartarto said in an online presentation on Tuesday, after meeting with US Trade Representative Jamieson Greer in Washington.

The trade agreement will be signed by both President Prabowo Subianto and President Donald Trump, with the Indonesian leader expected to travel to the US at the end of January.

The US agreed to exempt tariffs on certain Indonesian products including palm oil, coffee and tea, said Hartarto, Indonesia's lead negotiator. The US will also gain access to Indonesia's critical minerals, he said.

Under a framework announced in July, Indonesia was to eliminate tariffs on over 99% of US goods and remove non-tariff barriers, in exchange for the US reducing tariffs on Indonesian products from a threatened 32% to 19%. Indonesia also agreed to purchase roughly $19 billion in American products, including 50 Boeing Co. jets and agricultural goods.

Since then, negotiations hit sticking points over US demands that could limit Indonesia's autonomy in engaging in strategic trade and investment agreements with other countries. Of particular concern was the potential impact on the critical mineral and energy sector, and commerce with China and Russia.

Trump Demands on Mining, China Snarl US-Indonesia Trade Deal (1)

"No Indonesian policies are restricted by this agreement," Hartarto said, when asked about the US demands. The trade agreement between Indonesia and the US "is commercial and strategic in nature and benefits the economic interests of both countries equally," he said.

Source: Bloomberg Europe

The billionaire Cheng family have put a luxury London hotel up for sale as they grapple with liquidity challenges at debt laden Hong Kong property group New World Development Co.

The family, led by tycoon Henry Cheng, has appointed advisers to offer the Rosewood Hotel in London's Holborn district for sale, people with knowledge of the plan said, asking not to be identified as the plan is private.

New World has attempted to sell a raft of assets after plunging Hong Kong real estate values pushed up the group's relative indebtedness. The Cheng family has sought a partner to match a capital injection and the company last month proposed a bond swap that would trim about $1.2 billion from its debt pile.

A spokesperson at Rosewood Hotel Group declined to comment on ownership matters, but said its brands are not up for sale and all its properties remain fully operational as usual. Chow Tai Fook Enterprises, the private investment arm of the Cheng family, didn't respond to a request for comment.

The proposed sale is part of a wider program of Rosewood disposals being targeted by the family, Bloomberg News has previously reported. The Rosewood operation, led by Henry Cheng's daughter Sonia, is owned by the family's Chow Tai Fook Enterprises Ltd vehicle.

The group has 58 Rosewood properties around the world, according to its website. The Rosewood London, as the Holborn location is known, was the first hotel operated under the brand to open in the UK capital.

A second outpost, the Chancery Rosewood, was launched at the site of the former US embassy on Grosvenor Square in Mayfair earlier this year. That project was overseen by Qatari Diar, the developer owned by Qatar's sovereign wealth fund.

Deals for London hotels rose 42% in the three months through September, according to data compiled by broker Savills Plc. Robust demand has pushed values higher, the broker's data show.

Source: Bloomberg Europe

UK businesses ended 2025 feeling more upbeat about the economy's prospects after they were spared much of the tax pain at last month's budget.

Lloyds, a bank, said on Tuesday its business barometer rose five points to a net balance of 47%. It measures the difference between firms that are optimistic versus those that are pessimistic.

While it was only the highest reading since October, it was up on levels seen just before Chancellor of the Exchequer Rachel Reeves' budget. It was also 10 points higher than at the start of the year and optimism over the wider economy hit a four-month peak.

The figures add to evidence from the PMIs suggesting that business confidence bounced back after Reeves unveiled her fiscal plans. She announced £26 billion ($34.9 billion) of tax rises at her Nov. 26 budget but businesses avoided a repeat of her first budget when they were hit hard by higher payroll taxes. Instead households will face the worst pain from her second budget, though much of it is backloaded.

The renewed sense of optimism comes despite figures on Monday confirming that the economy slowed sharply in the second half of the year.

While the UK was the joint-fastest among the Group of Seven economies in the first half of the year, growth eased to 0.1% in the third quarter. Forecasters have also warned the economy could contract in the final three months of the year after monthly figures showed falls in output in September and October, when speculation mounted over tax rises.

"The uplift in business confidence is driven by an 11-point increase in optimism in the wider economy," said Hann-Ju Ho, senior economist at Lloyds Commercial Banking. "Confidence changed most in the construction sector which saw a big boost in December, to the highest level this year."

Private sector economists expect UK growth to slow next year to 1.1%, down from a predicted 1.4% for 2025. Reeves has vowed to "beat" forecasts that point to pedestrian levels of growth in the coming years.

While Lloyds' gauge tracking expectations for businesses' own price increases eased to levels seen at the start of the year, wage growth predictions remained steady. Some 18% of firms expect pay to rise by 4% or more over the next 12 months.

Source: Bloomberg Europe

Despite limited data, the Fed cut interest rates by 25 basis points in December, as expected. However, a pause in rate cuts is expected in January.

With the Fed's expectation of keeping interest rates stable at 3.5%-3.75% priced in at 80%, there is speculation about whether it will make a surprise move.

While statements from FED members on this issue are closely followed, the latest statement came from FED Board Member Stephen Miran.

Speaking to Bloomberg TV, Miran said that the data obtained in the last few months is consistent with his global outlook and that he does not expect a recession in the near term.

"If policies are not adjusted, the risk of a recession could increase. However, I don't foresee a recession in the near future."

Miran reiterated that the Fed should continue cutting interest rates, but stated that he has not yet decided whether he will vote for a 25 basis point cut or a larger 50 basis point cut at the next policy meeting.

"I think it is important that we continue to steadily lower the policy interest rate."

Miran also stated that recent data should steer the Fed towards a more dovish path, noting that inflation is getting closer to the Fed's 2% target. He added that the latest data supports the view that interest rate cuts should continue.

Miran, who joined the Fed in the middle of the year, has expressed dissenting views at every FOMC meeting he has attended, advocating for larger interest rate cuts each time. Regarding the January 2026 meeting, Miran stated that the interest rate decision would depend on various factors and that he was awaiting data delayed due to the government shutdown.

Miran also spoke about his term of office. At this point, Miran said, "If no one is appointed to replace me by January 31st, I assume I will continue in my position."

Stephen Miran was appointed by US President Donald Trump to complete the remaining few months of Adriana Kugler's 14-year term on the board, following Kugler's unexpected resignation in August.

His term ends on January 31, but Miran can remain in office until his successor is confirmed by the Senate.

Source: CryptoSlate

The US Federal Communications Commission said it would ban most foreign-made drones and critical components for unmanned aircraft systems going forward, a day ahead of a deadline for adding Chinese drone-maker SZ DJI Technology Co to the agency's so-called covered entity list.

According to a public notice, the agency will generally prevent non-domestic drones and drone parts from gaining equipment authorisation for sale in the US — a certification most electronics must receive through a routine process before they are sold to consumers. The rules will only apply to future drone imports and sales, not those that have already been sold or are in use.

US President Donald Trump "has been clear that his Administration will act to secure our airspace and unleash American drone dominance," FCC chairman Brendan Carr wrote in a social media post. "We do so through an action today that does not disrupt the ongoing use or purchase of previously authorised drones and with appropriate avenues for excluding drones that do not pose a risk."

Several Chinese and Russian companies including Huawei Technologies Co, ZTE Corp and AO Kaspersky Lab are already on the FCC's covered entity list, making them ineligible for equipment authorisations.

Banning at least one Chinese drone maker, DJI, has been a years-long priority for Carr, who pushed for the move in 2021. Congress passed a law last year that said DJI would be added to the FCC's covered entity list by Dec. 23, 2025, barring intervention from national security officials.

DJI said in a statement that it is "disappointed" in the FCC's decision to block new drone sales.

"While DJI was not singled out, no information has been released regarding what information was used by the executive branch in reaching its determination," a DJI spokesperson said. "Concerns about DJI's data security have not been grounded in evidence and instead reflect protectionism, contrary to the principles of an open market."

Seattle-based Brinc Drones Inc hailed the FCC's decision, saying it creates an opening for domestic producers. The company and its peers "are ready to meet the call for service to rebuild the American drone industry", Brinc said in an emailed statement.

The FCC didn't respond to requests for further comment.

Source: Theedgemarkets

Community members bring flowers to a growing makeshift memorial outside the Barus & Holley building following a shooting at Brown University in Providence, Rhode Island, U.S. December 17, 2025. REUTERS/Taylor Coester

The U.S. Department of Education on Monday said it was reviewing safety at Brown University in response to a mass shooting on the campus earlier this month.

Federal officials will scrutinize Brown's emergency notification and campus surveillance systems, the department said in a statement. Almost a week after the shooting, the suspect - who also was accused of killing an MIT professor in the Boston area - was found dead.

Brown's president, Christina Paxson, has said her institution is "deeply committed" to campus safety and security. She has said one of her university's two emergency notification systems sent text messages and emails to 20,000 individuals after the shooting. She has also said that a second siren system was not set off for fear it would prompt people to rush for safety into the building where the shooting occurred.

Paxson also said last week the campus has 1,200 security cameras. Officials said the attack occurred in an older part of a facility that had few or no cameras.

President Donald Trump had previously criticized the university in a Truth Social post for having "so few Security Cameras."

The suspect, identified as Claudio Neves Valente, 48, entered a building used for Brown's engineering and physics programs on December 13 and fired at least 44 rounds from his 9 mm pistol, killing two students and wounding nine, according to police in Providence, Rhode Island.

He was found dead in a storage rental facility in Salem, New Hampshire, after a five-day manhunt.

The Education Department has ordered Brown to submit extensive records by January 30, including crime logs, annual security reports and internal protocols relating to emergency notifications and active shooter response.

The review will look at whether the school violated a law that requires universities to meet certain campus safety and security requirements as a condition of receiving federal student aid.

Source: Reuters