Dalio Won't Join Indonesia Fund as Adviser in Blow to Prabowo
The founder of Bridgewater Associates opted not to be on Danantara's advisory board even as the fund publicly touted his appointment along with four other prominent business and political leaders in March, said the people, asking not to be identified discussing a private matter. The reason wasn't immediately clear.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
Indonesia Energy Plans to Commence Drilling Two Wells at Kruh Block During the Remainder of 2025
JAKARTA, INDONESIA AND DANVILLE, CA, July 23, 2025 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced that it plans to drill two (2) back-to-back wells on IEC's 63,000 acre Kruh Block commencing in the fourth quarter of 2025. The new drilling activities will be supported by the previously announced exploratory seismic work which was undertaken by IEC during 2024 and early 2025 that upgraded IEC's wellsite prospects and drilling locations with a view towards maximizing production. IEC's planned drilling activities are expected to encompass: Two wells being drilled back-to-back to help minimize mobilization costs. A 750 horsepower drilling rig is planned to be used and is currently undergoing final inspection. The wells will be designated 'Kruh-29' (Kruh Field, planned total depth: 3,400 ft) and 'West Kruh-5' (West Kruh Field, planned total depth: 5,200 ft), representing IEC's first new well drilling activity in West Kruh Field. Surface locations and subsurface geology for both wells have been approved by SKK Migas and Pertamina, the applicable Indonesian government entities. For Kruh-29, land acquisition, logistics, and tubular material procurement have been completed. For West Kruh-5, tender documents for required third party vendors are being prepared. Spudding of Kruh-29 is expected in the middle of the fourth quarter of 2025, with production anticipated to begin by year-end. Mr. Frank Ingriselli, IEC's President, commented 'We are excited that government permits and necessary contractors are lining up to provide us with the ability to commence drilling our next well at the Kruh Block before year end and hopefully the drilling of a second well before year end or soon thereafter. This comes after our heavy investment in critical seismic work in 2024 and early 2025 which will guide our efforts going forward. If results from these next wells are positive, we are hopeful that a significant increase in our reserves will be forthcoming as we continue to work towards drilling a total of 18 new wells at Kruh in the coming years as we seek to maximize the potential for this asset and drive shareholder value.' In May 2025, IEC reported that investments in Kruh Block and the 3D seismic work completed earlier this year resulted in a 60% increase in proved gross reserves. More information regarding IEC's planned drilling activities and reserve details for the Kruh Block and the Citarum Block can be found in IEC's annual report on Form 20-F which was filed on April 29, 2025 with the Securities and Exchange Commission and is available on IEC's website at: About Indonesia Energy Corporation Limited Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC's principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (195,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit Cautionary Statement Regarding Forward-Looking Statements All statements in this press release, and related statements of Indonesia Energy Corporation Limited ('IEC') and its representatives and partners that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Acts'). In particular, the words 'could,' "estimates," 'seek,' "believes," "hopes," "expects," "intends," 'on-track', "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. In this press release, forward-looking statements include, without imitation those related to IEC's future drilling plans at Kruh Block. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of significant risks, uncertainties, and other factors, many of which are outside of the IEC's control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company's annual report on Form 20-F for the fiscal year ended December 31, 2024, filed on April 29, 2025, and other filings with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC's website, and IEC's website at IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Company Contact:Frank C. IngriselliPresident, Indonesia Energy Corporation in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
5 minutes ago
- Forbes
All Aboard A Retail Renaissance: How Luxury Rail Showcases Great Consumer Experience
The service was acquired by LVMH in 2018 (Photo by: Sergi Reboredo/VWPics/Universal Images Group via ... More Getty Images) In an age when algorithms predict desire and over-burdened airport lounges have become little more than fast lanes to fatigue, a slower, more theatrical form of movement is gaining speed and with it, and it is a retail opportunity hiding in plain sight. Luxury train travel is no longer a nostalgic indulgence for a dwindling few. It is becoming a commercial and cultural signal. One that reveals, with surprising clarity, the consumer priorities of our time: immersion over immediacy, curation over chaos, and spending that speaks not just of wealth, but of wisdom. The modern train renaissance has a grand conductor and its name is Belmond. With carriages that feel less like transport and more like time machines, Belmond has rewritten the blueprint for experiential commerce on the move. From the velvet-rich Venice Simplon-Orient-Express, to the highly-Eastern & Oriental Express snaking through Southeast Asia, and Scotland's Royal Scotsman, these are not trains they are stories you board. But this is no pastiche. It's a platform for progressive luxury. When Dior partnered with the Royal Scotsman to create an onboard spa carriage, it wasn't just a ... More brand collaboration it was a provocation. Dior Spa's on-board treatments are curated with luxurious care designed with technique and ingredients inspired by the whimsical and magical Scottish landscape, When Dior partnered with the Royal Scotsman to create an onboard spa carriage, it wasn't just a brand collaboration it was a provocation. Dior Spa's on-board treatments are curated with luxurious care designed with technique and ingredients inspired by the whimsical and magical Scottish landscape, What if wellness, fashion, fine dining and heritage craftsmanship could co-exist in transit, and more importantly, transact in motion? Today's most coveted retail doesn't happen in aisles or on apps it happens in context. It happens where the product meets the moment. And no format is currently delivering that interplay with more potential than the luxury train. Consider the commercial canvas: captive audiences of high-net-worth individuals, undistracted by push notifications or time pressure. Attentive. Immersed. Available in every sense. Onboard trains like the Eastern & Oriental Express, Belmond's 'Tastes of Tomorrow' programme a ... More sensory masterclass led by celebrated chef André Chiang transforms fine dining into brand theatre. Onboard trains like the Eastern & Oriental Express, Belmond's 'Tastes of Tomorrow' programme a sensory masterclass led by celebrated chef André Chiang transforms fine dining into brand theatre. Meanwhile, high-end travel collections, bespoke monogramming services, fragrance discovery sets and artisanal gifting are creeping onto the rails not as novelties, but as natural extensions of experience. This is retail without it's usual walls. And it is working. The appeal of rail isn't speed, it's sensibility. It marks a rebellion against convenience culture in favour of considered consumption. Time, the ultimate luxury, is both spent and savoured. And with it comes an appetite for quality over quantity. Train travel has become the physical manifestation of this shift: deliberate, beautiful, and elevated. It's a space where storytelling holds more sway than stock levels, where the scent of hand-polished wood and fresh linen can outcompete any AI-generated product recommendation. It is the antidote to transactional culture and a roadmap for retailers looking to reconnect with the emotive power of shopping. Every night "feels like fashion week' aboard the VSOE, noting that travellers arrive clad in ... More couture. They walk its corridors in Schiaparelli, Dior, Versace and Simone Rocha a living, breathing runway set to the rhythm of the rails. (Photo by Mike Marsland/Mike Marsland/WireImage) Fashion, of course, is paying close attention. Whilst there is less of a look-book for flying private, there is for luxury rail. And it is quietly commanding. Wide-leg trousers in raw silk. Cashmere layering. Vintage timepieces. Flat shoes designed for corridor pacing and cocktail standing. These are travellers dressed for narrative, not noise. Luxury trains have become their own style arenas, not performative, but precise. A growing number of travellers are curating their rail wardrobes with the same reverence once reserved for destination weddings or society galas. Retailers who recognise this are beginning to design for the journey. There is an emerging category of travel capsule collections, cabin bags that double as arm candy, and station pop-ups that cater not to last-minute needs but to first impressions. As luxury trains accelerate into the mainstream, so too does the appetite to extend the experience beyond the carriage. In a market saturated with status purchases, the new power move is ownership that feels earned - emotional, specific, and storied. The portfolio for Orient Express, designed by trunk manufacturer Au Départ, is crafted from jacquard ... More woven fabric with Italian calf leather details. The exterior is adorned with the brand's signature three-dimensional monogram, while a spacious interior features a zipper pocket. The Orient Express has leaned into this shift with remarkable precision. Its online retail destination offers a curated world of collectables, homeware, and fashion designed to evoke and monetise the journey. Offering sophisticated commerce, from marble cigar trays to limited-edition luggage tags and leather goods. Every item speaks to a narrative, not just of a brand, but of a time, a place, a feeling. It's not only about souvenirs - or 'resortcore'. The entire model recognises that today's luxury consumer buys with memory, not just money. Whether it's a signature candle that recalls the scent of the dining car or a silk scarf that echoes the train's original marquetry, each item becomes a passport stamp of a different kind: proof of taste, not just travel. Fashion insiders are paying attention too, cultural go-to guide Dazed declared that 'every night feels like fashion week' aboard the VSOE, noting that travellers arrive clad in couture. They walk its corridors in Schiaparelli, Dior, Versace and Simone Rocha a living, breathing runway set to the rhythm of the rails. What this tells us is that luxury trains are no longer content to be mere stages—they are spawning micro‑luxury ecosystems. This is commerce that transcends the carriage, its is combing hot-trends of slow fashion and collectible culture. And it signals a broader lesson: that the most compelling merchandise isn't rushed, but steeped in story. Destination Shopping, Right on Track: All the experience, even before you get onboard. As part of ... More the promotional tour for Wicked - Jon M. Chu and Jeff Goldblum beside the Sir Elton John piano at St Pancras International Station on November 20, 2024 in London, England. (Photo by) The experience doesn't begin when the train departs. It starts in the station. And increasingly, the station itself is being reimagined as a stage for high-impact retail. St Pancras International, once a holding bay for the impatient, now rivals some of London's high streets for heritage gifting and luxury concessions. In Tokyo Station, gourmet zones and high-design corridors are curated with the elegance of department stores. Over at Tokyo Station, you'll find two areas the Tokyo Gift Palette and Tokyo Okashi Land, both ... More fully dedicated to sweets and snacks from Tokyo and Japan. Retailers have long searched for formats that blend storytelling with conversion, reach with relevance. The luxury rail model offers all four, plus the kind of emotional resonance that no pop-up ever truly achieves. While airline lounges saturate and airport terminals commodify, trains humanise. They decelerate just enough to let desire breathe. And in that breath, consumers buy. Moreover, there is a sustainability story here, not in slogans, but in structure. Trains symbolise permanence. They offer a tactile alternative to the 'click and regret' culture. And they position brands as part of a legacy rather than a landfill. 'Railway Retail' is on the move, but this isn't racing ahead. It's rediscovering how to walk through the world with elegance and intent. The rise of luxury rail isn't just a travel trend. It's a cultural correction. A counterpoint to years of noise, waste, and sameness. For brands, this is a moment of invitation. To step aboard not just a train, but a new type of relationship with the consumer, one where emotion, trust, and memory travel together. Because if today's consumer is no longer buying things, but feelings, then the most valuable real estate of all may just be found in a mahogany carriage, somewhere between Paris and Vienna, as the silverware glints and the story begins.
Yahoo
17 minutes ago
- Yahoo
Gold price today, Wednesday, July 23, 2025: Gold opens at record high
Gold (GC=F) futures opened at $3,444.30 per ounce Wednesday, 0.1% higher than Tuesday's close of $3,439.20. Wednesday's opening price is a record high for the precious metal, which last peaked at $3,444 on June 13. Gold's new peak price comes as the August 1 reinstatement date for reciprocal tariffs approaches. On Tuesday, President Trump announced trade deals with Japan, the Philippines, and Indonesia with import levies ranging from 15% to 19%, plus a 40% tariff on foreign goods routed through Indonesia. The U.S. does not yet have trade deals with the EU or India. Meanwhile, the U.S. dollar (DX=F) is down 10% for the year, which can indicate global concern about the U.S. economy. Historically, a weaker dollar is associated with higher gold prices. Learn more: How the dropping dollar could scramble Trump's agenda Current price of gold The opening price of gold futures on Wednesday is 0.1% higher than Tuesday's close of $3,439.20 per ounce. Wednesday's opening price marks a gain of 3.1% over the past week, compared to the opening price of $3,341.20 on July 16. In the past month, the gold futures price has gained 2.3% compared to the opening price of $3,365.90 on June 23, 2025. In the past year, gold is up 43.8% from the opening price of $2,395.80 on July 23, 2024. Don't forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week. Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria. How to invest in gold As we've been saying all week, investing in gold is a four-step process, and today, we'll explore step 3, choosing a form. Once you define your target gold allocation, you must choose a form of gold to hold. Your three options are: Physical gold Gold mining stocks Gold ETFs Physical gold pros and cons Physical gold includes jewelry, gold bars, and gold coins. The advantages of physical gold include: Readily accessible for use. If you keep your physical gold at home, it is easily available for you to use as a medium of exchange in an economic emergency. No added volatility or ongoing fees. Gold mining stocks tend to rise and fall with gold prices, and business-related factors enhance their volatility. Gold ETFs charge administrative fees in the form of expense ratios. Learn more: Take a deeper dive into the gold sector The disadvantages of physical gold include: Risk of theft or loss. Physical gold must be properly secured. Whether you store it in your home or with a depository, gold can be stolen. Lower liquidity. Physical gold is less liquid than stocks or ETFs. If you are not using the gold as a medium of exchange, you may need to locate a dealer and pay a markup on the sale. Gold mining stocks pros and cons Owning shares in gold mining stocks provides indirect gold exposure. The advantages of mining stocks over physical gold include: Greater liquidity. Large-cap gold mining stocks like Barrick Gold Corporation (GOLD) and Franco-Nevada Corporation (FNV) generally enjoy a narrow bid-ask spread, which is a sign of liquidity. The bid-ask spread is the difference between what buyers will pay and what sellers will accept. Easy to store. Stocks live in your brokerage account and do not consume physical space. In normal times, this is an advantage. In an economic catastrophe, this could be a disadvantage if brokers or the stock market are temporarily shut down. Learn more: The top performing companies in the gold industry The disadvantages of owning gold mining stocks include: Greater volatility. Since 2000, gold mining stocks have risen and fallen faster than gold spot prices. And in recent years, gold mining stocks have trended down even as gold has gained value. No utility as a medium of exchange. Gold mining stocks can appreciate, but they have no direct utility as a medium of exchange. Gold ETFs pros and cons Gold ETFs are funds that invest in gold mining stocks or physical gold. Their advantages include: Easy to store. Like gold mining stocks, ETF shares are essentially digital assets with no storage requirements. Greater liquidity. Shares of the most popular gold ETFs, like SPDR Gold Shares ($GLD), are heavily traded which implies good liquidity. Tied directly to gold prices. ETFs backed by physical gold can be less volatile than gold mining stocks or gold mining ETFs. The disadvantages of gold ETFs include: Fund fees. Funds charge fees, which dilute returns over time. For context, the expense ratio of SPDR Gold Shares is 0.40%. This translates to $4 in fees annually for every $1,000 invested. No utility as a medium of exchange. As with gold mining stocks, you probably cannot use ETF shares to trade for food in an economic emergency. Up Next Up Next Price-of-gold chart Whether you're tracking the price of gold since last month or last year, the price-of-gold chart below shows the precious metal's steady upward climb in value. Historic price of gold Historically, gold has shown extended up cycles and down cycles. The precious metal was in a growth phase from 2009 to 2011. It then trended down, failing to set a new high for nine years. In those lackluster years for gold, your position will negatively impact your overall investment returns. If that feels problematic, a lower allocation percentage is more appropriate. On the other hand, you may be willing to accept gold's underperforming years so you can benefit more in the good years. In this case, you can target a higher percentage. The precious metal has been in the news lately, and many analysts are bullish on gold. In May, Goldman Sachs Research predicted gold would reach $3,700 a troy ounce by year-end 2025. That would equate to a 40% increase for the year, based on gold's January 2 opening price of $2,633. Rising demand from central banks, along with uncertainty related to changing U.S. tariff policy, are the factors driving the increase. If you are interested in learning more about gold's historical value, Yahoo Finance has been tracking the historical price of gold since 2000.
