Indonesia has asked Alphabet's Google and Apple to block Chinese fast fashion e-commerce firm Temu in their application stores in the country so it cannot be...
JAKARTA - Indonesia has asked Alphabet's Google and Apple to block Chinese fast fashion e-commerce firm Temu in their application stores in the country so it cannot be downloaded, a minister said on Friday.
Temu's business model, which connects consumers directly with factories in China in order to significantly reduce prices, is "unhealthy competition," Budi said. Indonesia forced China's ByteDance social media platform TikTok to close its e-commerce service in the country last year to protect local merchants and users' data.
Indonesia's e-commerce industry is set to expand to about $160 billion by 2030 from $62 billion in 2023, according to a report by Google, Singapore state investor Temasek Holdings and consultancy Bain & Co.JPMorgan on Friday reported that its net income fell 2% in the third quarter as the bank had to set aside more money to cover bad loans. Net income fell to $12.9 billion from $13.2 billion in the year-ago quarter. JPMorgan set aside $3.1 billion to cover credit losses, up from $1.
Indonesia Budi Arie Setiadi Apple Temu PDD Holdings
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