
Indonesia Grants Brazil, Turkey Visa-Free Entry in Tourism Push
The decision, effective immediately under a new immigration regulation, grants visitors from the two countries 30-day visa waivers for travel related to tourism, business and medical treatment, Acting Director General of Immigration Yuldi Yusman said in a statement Thursday.

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Bloomberg
2 hours ago
- Bloomberg
Thai Bourse Looking to Improve Liquidity to Ease Stock Rout
Thailand's stock exchange operator will look at various measures to support the market as a deepening political turmoil weighs on investor confidence. 'We are looking to enhance liquidity in the market and attract investors back through communication,' Asadej Kongsiri, the president of Stock Exchange of Thailand, said in a Bloomberg TV interview on Friday. However, 'a short selling ban is probably not on the table at the moment,' he added.
Yahoo
2 hours ago
- Yahoo
Sugar Prices Tumble as Global Supply Prospects Improve
October NY world sugar #11 (SBV25) Wednesday closed down -0.12 (-0.76%), and August London ICE white sugar #5 (SWQ25) closed down -3.90 (-0.84%). Sugar prices on Wednesday added to this week's selloff, with NY Oct sugar falling to a new contract low and London sugar dropping to a 3-3/4 year nearest-futures low. Signs of robust sugar supplies amid tepid demand are weighing on prices. On Tuesday, ICE Futures US reported that 45,112 MT of NY sugar was delivered to settle the July sugar contract, which expired on Monday, the smallest amount delivered for a July contract in 11 years and a sign of weak demand. On Monday, nearest-futures (SBN25) NY sugar posted a 4-1/4 year nearest-futures low. Arabica Coffee Prices Are Falling. How Much Lower Will They Go? Coffee Prices Fall as Pace of Brazil's Coffee Harvest Accelerates Brazil Coffee Harvest Pressures Weigh on Prices Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Expectations of larger sugar supplies are limiting the upside in sugar prices. On Monday, commodities trader Czarnikow projected a 7.5 MMT global sugar surplus for the 2025/26 season, the largest surplus in 8 years. Sugar prices have plummeted over the past three months due to expectations of a global sugar surplus. On May 22, the USDA, in its biannual report, projected that global 2025/26 sugar production would increase by +4.7% y/y to a record 189.318 million metric tons (MMT), with global sugar ending stocks at 41.188 MMT, up 7.5% year-over-year. The outlook for higher sugar production in India, the world's second-largest producer, is bearish for prices. On June 2, India's National Federation of Cooperative Sugar Factories projected that India's 2025/26 sugar production would climb +19% y/y to 35 MMT, citing larger planted cane acreage. The outlook for abundant rainfall in India could lead to a bumper sugar crop, which is bearish for prices. On April 15, India's Ministry of Earth Sciences projected an above-normal monsoon this year, with total rainfall forecast to be 105% of the long-term average. India's monsoon season runs from June through September. Signs of larger global sugar output are negative for prices. On May 22, the USDA's Foreign Agricultural Service (FAS) predicted that Brazil's 2025/26 sugar production would rise +2.3% y/y to a record 44.7 MMT. Also, India's 2025/26 sugar production is projected to rise +25% y/y to 35.3 MMT, citing favorable monsoon rains and increased sugar acreage. In addition, Thailand's 2025/26 sugar production is expected to climb +2% y/y to 10.3 MMT. In a bearish factor, the Indian government said on January 20 that it would allow its sugar mills to export 1 MMT of sugar this season, easing the restrictions placed on sugar exports in 2023. India has restricted sugar exports since October 2023 to maintain adequate domestic supplies. India allowed mills to export only 6.1 MMT of sugar during the 2022/23 season to September 30, after allowing exports of a record 11.1 MMT in the previous season. However, the ISMA projects that India's 2024/25 sugar production will fall -17.5% y/y to a 5-year low of 26.2 MMT. Also, the ISMA reported last Monday that India's sugar production from Oct 1-May 15 was 25.74 MMT, down -17% from the same period last year. In addition, Indian Food Secretary Chopra said on May 1 that India's 2024/25 sugar exports may only total 800,000 MT, below earlier expectations of 1 MMT. The outlook for higher sugar production in Thailand is bearish for sugar prices. On May 2, Thailand's Office of the Cane and Sugar Board reported that Thailand's 2024/25 sugar production rose +14% y/y to 10.00 MMT. Thailand is the world's third-largest sugar producer and the second-largest exporter of sugar. Sugar prices have some support from reduced sugar production in Brazil. Unica reported Monday that the cumulative 2025/26 Brazil Center-South sugar output through mid-June is down by -14.6% y/y to 9.404 MMT. Last month, Conab, Brazil's government crop forecasting agency, said 2024/25 Brazil sugar production fell by -3.4% y/y to 44.118 MMT, citing lower sugarcane yields due to drought and excessive heat. The International Sugar Organization (ISO) raised its 2024/25 global sugar deficit forecast to a 9-year high of -5.47 MMT on May 15, up from a February forecast of -4.88 MMT. This indicates a tightening market following the 2023/24 global sugar surplus of 1.31 MMT. ISO also cut its 2024/25 global sugar production forecast to 174.8 MMT from a February forecast of 175.5 MMT. The USDA, in its bi-annual report released May 22, projected that global 2025/26 sugar production would climb +4.7% y/y to a record 189.318 MMT and that global 2025/26 human sugar consumption would increase +1.4% y/y to a record 177.921 MMT. The USDA also forecasted that 2025/26 global sugar ending stocks would climb +7.5% y/y to 41.188 MMT. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on


Skift
2 hours ago
- Skift
What Destinations Get Wrong (and Right) About the Muslim Travel Market
Destinations investing early and comprehensively in halal-friendly travel are likely to gain long-term competitive advantage as this sector continues to grow. The global Muslim travel market is expected to reach $235 billion by 2030, up from $189 billion in 2024, according to the 2025 Mastercard-CrescentRating Global Muslim Travel Index (GMTI), released last month. The Muslim, or halal, travel sector caters to the specific needs of Muslim travelers, including halal-certified food, access to prayer spaces, and accommodations that align with Islamic values. The Muslim travel index, a widely cited benchmark, tracks this segment and ranks 145 destinations worldwide using a four-point framework: Access, Communication, Environment, and Services. The report attributes the sector's projected growth to three key trends: a rising global Muslim population, from 2.12 billion in 2024 to a projected 2.47 billion by 2034, increasing disposable income, and better access to travel infrastructure. In 2024, international arrivals of Muslim travelers were 10% higher than pre-pandemic levels. Malaysia and Singapore On Top Southeast Asia continues to outperform other regions in attracting Muslim travelers. Malaysia once again ranked first among Muslim-majority destinations. Singapore leads all non-Muslim-majority countries, thanks to its extensive halal food offerings, inclusive tourism services, and traveler-friendly airport infrastructure. 'Thailand has been targeting the halal travel market for a long time, primarily to attract tourists from Malaysia and Indonesia,' said Fazal Bahardeen, CEO of CrescentRating. He noted that the Philippines is becoming a serious contender, 'They're (The Philippines) the first non-Muslim destination to offer a halal-friendly beach in Boracay for Muslim families.' The Philippines Department of Tourism created a halal travel portfolio, expanded halal food certifications, and launched awareness training for tourism operators. Speaking at the Skift Asia Forum, Christina Garcia Frasco, tourism secretary of the Philippines, discussed how there has been a very serious push towards expanding the Philippines' Muslim-friendly tourism portfolio. Other Asian destinations including Taiwan, Hong Kong, Japan, South Korea, Vietnam, and Cambodia are also investing in halal-friendly offerings. Hong Kong and Taiwan ranked third and fourth, respectively, among non-Muslim-majority destinations in the travel index. What Muslim Travelers Actually Want 'Many people have a misconception that halal travel is limited to the Middle East,' said Azwan Ariffin of Tripfez, a Malaysia-based online travel agency focused on Muslim-friendly travel. 'In reality, any destination can attract halal travelers by offering food and facilities which meet their religious requirements.' Bahardeen said that Muslim travelers want many of the same things other travelers do, such as seamless digital services, cashless transactions, and streamlined immigration, but with an added layer of faith-based considerations. 'The Muslim market is not a behemoth,' he said. 'It's segmented into three categories, depending on how strictly Muslim travelers observe their faith: 20% are 'strictly practicing,' 60% are 'practicing,' and 20% are 'less practicing.'' Destinations must understand that each of these groups has different expectations. 'Strictly practicing Muslims may require dedicated prayer facilities and halal-only dining and accommodation options,' Bahardeen said. 'Less practicing Muslims may need halal food available but can be more flexible on other options.' Muslim-majority countries are often well positioned to cater to all levels of practice. Others may be limited by cultural norms, infrastructure, or funding. 'For Muslims, there are some overall essential requirements for a destination, or 'need to have,'' Bahardeen said. 'For example, halal food, access to prayer spaces, water-friendly toilets, and no Islamophobia. Then there are qualities that are 'good to have,' such as fasting-friendly hotels and Muslim-friendly experiences.' The final tier, described as 'nice to have,' includes destinations with no non-halal food or alcohol and separate activities for men and women. Accessibility Still Overlooked Many Muslim travelers travel with extended family, including elderly or disabled relatives. According to United Nations Tourism, nearly 50% of people over age 60 have a disability, yet most global destinations are still not designed with their needs in mind. Muslim travelers in particular need hotels, prayer areas, and transportation options that accommodate wheelchairs and limited mobility. 'Accessibility is a neglected area that we are trying to push,' Bahardeen said. The travel index added accessibility as a standalone category in 2023, highlighting a major gap in tourism readiness. Gen Z and Millennials Reshaping the Market Younger Muslim travelers are driving much of the sector's growth. Millennials and Gen Z Muslims tend to be more mobile-first, experience-oriented, and digitally fluent. 'Younger Muslim travelers are more flexible, less strict than older generations,' said Ariffin. 'For example, requiring that a hotel be clean, but not necessarily halal.' They are also a powerful marketing force. 'Younger Muslims are willing to be more adventurous and independent and can have a big positive impact on travel markets through their social media,' he said. These travelers also help destinations smooth out seasonal peaks. Many plan trips around Islamic holidays, such as Ramadan and Eid, which fall at different times each year and can boost tourism during otherwise slower periods. 'Leveraging the Muslim travel market also gives a destination more economic stability in case other tourist sectors fall off,' Bahardeen said. CrescentRating CEO Fazal Bahardeen at the Skift Asia Forum