Prabowo allows foreigners to lead state-owned enterprises

 President Prabowo Subianto has allowed foreign nationals to lead State-Owned Enterprises (SOEs) and has officially transformed the Ministry of SOEs into the SOE Regulatory Body (BP BUMN). This revolutionary policy was announced while speaking at the Forbes Global CEO Conference 2025 in Jakarta, Wednesday (15/10/2025), coinciding with the implementation of the latest SOE Law which he had signed on October 6, 2025.​

"I have changed the regulations. Now expatriates, non-Indonesians, can lead our SOEs. So I am very enthusiastic about this," Prabowo said in a dialogue with Forbes Chairman Steve Forbes. This change enables the application of international business standards in the management of state-owned companies, with the aim of improving performance, which so far has only achieved a return rate of 1-2 percent.

Prabowo allows foreigners to lead state-owned enterprises


Institutional Transformation and Streamlining of State-Owned Enterprises

Through Law Number 16 of 2025, Prabowo officially transformed the Ministry of State-Owned Enterprises (BUMN) into the State-Owned Enterprises Agency (BP BUMN), which reports directly to the President. Dony Oskaria was inaugurated as Head of BP BUMN on October 8, 2025, with Aminuddin Ma'ruf and Tedi Bharata as deputies. Dony also holds the concurrent position of Chief Operating Officer at BPI Danantara, an investment management agency with a minimum capital of Rp 1,000 trillion.​

The President also ordered a drastic reduction in the number of state-owned enterprises from around 1,000 entities to only 200–240 companies. "I have instructed the CEO of Danantara to rationalize all of this. Reduce the number of SOEs from around 1,000 to a more rational figure, maybe around 200, 230, or 240," Prabowo revealed.​

Direct Implementation: Garuda Indonesia Appoints Foreign Director

This new policy was implemented immediately on the same day. PT Garuda Indonesia, in an Extraordinary General Meeting of Shareholders (RUPSLB), appointed two foreign-national directors: Balagopal Kunduvara as Director of Finance and Risk Management, and Neil Raymond Mills as Director of Transformation. Kunduvara is a former executive of Singapore Airlines with 25 years of experience in the aviation industry.​

CEO Danantara Rosan Roeslani explained this step as a serious effort to restore the health of the national airline. "Garuda has tried to recover many times before, its capital has already been injected, but the results have not been optimal. Now we don’t want to do things halfway because it is most important from the management side to have good goals and plans," said Rosan.​

Electricity consumption increased after the Rp200 trillion stimulus

Minister of Finance Purbaya Yudhi Sadewa stated that electricity consumption in Indonesia has begun to show an upward trend as an early impact of the government’s economic stimulus worth Rp200 trillion, which was distributed through state-owned banks. This statement was delivered after a meeting with President Director of PT PLN (Persero) Darmawan Prasodjo at the Directorate General of Taxes office, Jakarta, Tuesday (15/10/2025).​


“If we look at the data from PLN, electricity demand has started to increase. Branches in the regions also show rising demand for services and new connections,” said Purbaya after the meeting. PLN’s data shows an increase in electricity demand in various areas, including industrial centers in Indonesia.

The Impact of Fund Placement Begins to Be Felt

According to Purbaya, the increase in electricity consumption is an indicator that the government's policy of placing Rp200 trillion in five Himbara banks is beginning to have a tangible impact on real economic activity. This policy was launched on September 13, 2025, with the aim of strengthening banking liquidity and encouraging lending to productive sectors.​

"This means that the impact of the Rp200 trillion policy I launched some time ago is already starting to show in the economy. So, it’s clear that demand is starting to pick up," said Purbaya. As of September 2025, Himbara banks have distributed Rp112.4 trillion, or more than half of the funds, in the form of productive loans.​

Bank Mandiri leads the distribution with Rp40.6 trillion (74%), followed by BRI with Rp33.9 trillion (62%), and BNI with Rp27.6 trillion (50%)

Optimism for Economic Growth

Purbaya is optimistic that the economic growth in the fourth quarter of 2025 can reach 5.67% thanks to positive momentum from this stimulus. This projection is higher than estimates from international institutions such as the World Bank, which projects Indonesia’s growth to be only 4.8% in 2025.​

The Ministry of Finance estimates that the economy in the third quarter of 2025 will grow by 5.1%, supported by solid export performance despite facing various challenges. To maintain this momentum, Purbaya will request updates on electricity consumption data from PLN every two weeks to monitor the impact of the stimulus on economic activity.​

“I will ask the President Director of PLN for an update, maybe every two weeks, to see what the data looks like. We will see, if it can still be pushed, we will push the economy further,” said Purbaya.​

Oil prices rebound on US-China trade deal optimism

 Oil prices clawed back from five-month lows on Monday as investors seized on signals from the Trump Administration suggesting potential diplomatic engagement with China, offering hope that escalating trade tensions between the world's two largest oil consumers might ease.​

Brent crude rose 1.39% to $63.60 per barrel by early Monday trading, while West Texas Intermediate (WTI) crude gained 1.48% to $59.77 per barrel. The recovery came after both benchmarks plummeted more than 4% on Friday to their lowest levels since May, following President Trump's announcement of 100% tariffs on Chinese exports and China's retaliatory tightening of rare earth export controls.

Market Relief as Diplomatic Tone Softens

Market Relief as Diplomatic Tone Softens

The rebound followed more conciliatory remarks from Trump and Vice President JD Vance on Sunday, with Trump telling reporters aboard Air Force One, "We'll be fine with China," though he maintained that the November 1 tariff implementation remains planned. This shift in rhetoric came after a week of intense trade escalation that began when China expanded export controls on rare earth materials, prompting Trump's tariff threats.finance.yahoo+2

"The price collapse last week was mainly driven by the ceasefire in Gaza and the resurgence of volatility in U.S.-China trade discussions," said DBS energy analyst Suvro Sarkar. He emphasized that the recent market decline appears moderated by both nations' readiness to engage in negotiations, with short-term outlook heavily dependent on trade discussion results.cnbc

Goldman Sachs analysts noted the central market question is whether the threatened measures will be implemented or remain negotiating tactics ahead of potential bilateral discussions at the Asia-Pacific Economic Cooperation summit later this month. "The most probable outcome appears to be that both parties will retreat from their most extreme policies," the bank stated.reuters

Here’s a summary of the **Canara Robeco IPO** (as of October 2025) — and some things to watch:

 



## Key Details | Item | Information | Company | Canara Robeco Asset Management Company (AMC) — a JV between Canara Bank (India) and ORIX Corporation (Japan) ([ET Now][1]) | | IPO Type | **100% Offer for Sale (OFS)** — no fresh issue. Existing shareholders (Canara Bank and ORIX) will sell shares. ([Moneycontrol][2]) | | Issue Size | ₹1,326.13 crore (~ ₹1,326.13 Cr) ([Investor Gain][3]) | | Number of Shares Offered | ~ 4.98 crore equity shares (i.e. ~498.5 million shares) ([Investor Gain][3]) | | Face Value | ₹10 per share ([Investor Gain][3]) | | Price Band | ₹253 – ₹266 per share ([Reuters][4]) | | Minimum Lot | 56 shares (i.e. one lot) ([Paytm Money][5]) | | Retail Minimum Application | ₹14,896 (at upper price band) ([Paytm Money][5]) | | Other Categories |
  • Qualified Institutional Buyers (QIB): 50% allocation ([IPO Watch][6])
  • Retail (RII): 35% allocation ([IPO Watch][6])
  • Non-Institutional / HNI: 15% allocation ([IPO Watch][6])
| | Subscription Period | October 9, 2025 to October 13, 2025 ([Groww][7]) | | Allotment Date | Expected October 14, 2025 ([mint][8]) | | Listing Date | Expected October 16, 2025 on BSE & NSE ([mint][8]) | | Valuation (at upper band) | ~ ₹53.05 billion (USD ~ $598 million) ([Reuters][4]) | | Promoter Share Sale | Canara Bank will sell ~13% stake; ORIX will divest ~24.5% stake ([Reuters][9]) |

---


## Subscription & Market Response


* The IPO was **fully subscribed** by the final day, driven largely by strong demand from institutional investors. ([Reuters][9])

* At the close, bids worth ₹21,230 million (~₹2,123 crore) were received against the 34.9 million shares offered, representing ~2.3× subscription. ([Reuters][9])

* Qualified Institutional Buyers (QIBs) oversubscribed ~4× their allocation; Retail investors subscribed ~1.37×. ([Reuters][9])

* There was some weakening in the Grey Market Premium (GMP) in later days, indicating market calibration. ([The Economic Times][10])


---


## Strengths, Risks & Considerations

### Strengths / Positive Factors


1. **Legacy & Promoter Backing**
   Canara Robeco is one of India’s oldest asset management firms with decades of experience, backed by Canara Bank and ORIX. ([Moneycontrol][2])

2. **Portfolio & AUM Growth**
   The AMC has a mix of equity, debt, and hybrid schemes. Its latest filings show revenue and profit growth over recent years. ([Paytm Money][5])

3. **Wide Distribution Network**
   It leverages the branch network of Canara Bank and an extensive network of third-party distributors. ([Groww][7])

4. **Sector Tailwinds**
   The mutual fund / asset management industry in India has growth potential as retail financialisation increases.


### Risks / Caveats


* **100% OFS—No fresh capital to company**
  As all proceeds are going to existing shareholders, the company itself gets no new funds for expansion or debt reduction. ([Moneycontrol][2])

* **Market Sensitivity**
  AMC revenues are sensitive to equity market performance (i.e. when markets go down, inflows or AUM may suffer).

* **Competition & Margin Pressure**
  The asset management space is crowded (HDFC AMC, Nippon AMC, SBI AMC, etc.). Fee compression or intense competition is a risk.

* **Execution / Performance Risk**
  Fund performance relative to benchmarks matters; underperformance can lead to redemptions or loss of investor confidence. ([The Financial Express][11])

* **Valuation Execution Risk**

  The IPO is priced in line with expectations; listing may be volatile depending on market sentiment.

Deep Statistical Breakdown — **Buffalo Bills vs. Atlanta Falcons** (Monday Night Football)

 Monday Night’s Week 6 tilt between the **Buffalo Bills** and **Atlanta Falcons** wasn’t just a primetime spectacle — it was a statistical story about a runaway rushing play, contrasting quarterback profiles, and a Bills run defense that has shown cracks. Below is an analytical, numbers-focused breakdown of the game and season trends that mattered most.



---


## Snapshot — season-through (pre-game) numbers


* **Josh Allen (BUF)** — 1,217 passing yards, **9 TD**, **2 INT**, QBR **70.7** through five games (≈ **243.4 passing yards per game**, ~**1.8 TDs per game**). ([ESPN.com][1])

* **Michael Penix Jr. (ATL)** — 918 passing yards, **3 TD**, **3 INT**, QBR **58.3** (≈ **183.6 passing yards per game**). ([ESPN.com][2])

* **James Cook (BUF)** — 450 rushing yards on 90 carries (season), **5 rushing TDs**, **5.0 yards per carry (YPC)**. ([ESPN.com][3])

  (Those per-game figures assume five games played prior to MNF — used only to show rate performance.) ([ESPN.com][1])


---


## The defining play: Bijan Robinson’s 81-yard touchdown


Bijan Robinson’s **81-yard touchdown run** in the second quarter was the single most consequential play of the night. It was the longest rush in the NFL that week and a play that instantly swung expected points and field position. The AP/WTop reporting measured his half as roughly **138 rushing yards on 12 carries** at halftime (and the 81-yard explosive), highlighting Robinson’s ability to convert a modest series of carries into a massive swing in both yardage and win probability. That single 81-yard play dramatically increased Atlanta’s run success rate and expected points added (EPA) on the drive. ([WTOP News][4])

Why that matters statistically:

* Explosive runs (50+ yards) are *outlier events* that skew per-carry averages and create sudden changes in win probability. A team that gains a single 80-yard TD effectively converts one drive into a touchdown with near-zero chance of defensive response on that drive — a large step function in EPA.

* Robinson’s run exposed a Bills front that has shown vulnerabilities to chunk plays against the run this season. Sports Illustrated and local coverage noted the Bills’ run-defensive struggles entering and during the game.

---

## QB contrast: Allen’s efficiency vs. Penix’s game manager profile

* **Josh Allen**: High yardage, high TD rate, low interception rate (9 TD / 2 INT). Allen’s game is multi-dimensional — passing volume plus ability to add rushing value when needed. At ~243 passing yards per game and a QBR near 71, Allen’s profile is elite in overall offensive output and situational explosiveness. Those numbers translate into sustained drives, higher third-down conversion opportunities, and red-zone trips. ([ESPN.com][1])

* **Michael Penix Jr.**: More of a developing, lower-volume passer through five games (~183.6 passing yards per game). His 3 TD / 3 INT split and QBR in the mid-50s reflect a young QB still balancing downfield attempts and turnover risk — but the Falcons supplemented him with a powerful running game centered on Robinson. Penix’s role in this game was to manage and open running lanes; when that succeeded, the Falcons’ offense generated big plays. ([ESPN.com][2])


Takeaway: Allen gives Buffalo consistent air-attack EPA; Penix’s EPA arises primarily when the running game (Robinson) forces defenses to react.

---

## Running game leverage: Cook vs. Robinson


* **James Cook** (Buffalo) has been efficient: **5.0 YPC** on the season and a top-10-ish carry total among lead backs (450 yards, 90 carries). Cook provides Buffalo balance and is an RPO/zone-read complement to Allen’s passing. Efficient short-to-intermediate production helps sustain drives but doesn’t create the same explosion potential as Robinson. ([ESPN.com][3])

* **Bijan Robinson** delivered the contrasting profile: fewer but more explosive touches. An 81-yard TD is the kind of play that flips defensive gameplans and massively increases scoring probability from a single drive. WTOP/AP and other outlets reported the 81-yard run as the longest rush of the NFL season at the time. ([WTOP News][4])


Statistical implication: Buffalo’s offense relies on **high-volume** passing and steady rushing to keep drives alive; Atlanta relied on **explosive burst** and chunk plays to shortcut possessions into points.

---

## Situational & defensive notes


* **Bills run defense**: Multiple outlets and game reporters flagged Buffalo’s vulnerability to chunk runs and the inability to string together stops early in the game — a decisive factor given Atlanta’s early rushing success. SI’s breakdown and mid-game reporting show the Falcons attacked inside gaps and converted early downs into manageable red zone chances. That exposed Buffalo’s need to shore up interior tackle matchups and linebacker fill rates.

* **Turnover & third-down impact**: Allen’s low interception rate on the season meant fewer sudden changes in momentum. For Atlanta, forcing turnovers or converting third downs after explosive runs was essential to maximizing possession value.

---

## Final analytical takeaways


1. **Explosiveness beats steadiness in single drives.** Robinson’s 81-yard TD was a single event that added outsized EPA and changed win probability more than incremental yards. ([WTOP News][4])

2. **Allen’s volume gives Buffalo more long-term scoring opportunities**, but only if Buffalo can stop chunk plays and limit negative field-position swings. Allen’s 243.4 passing YPG and 1.8 TDs/game made Buffalo the more consistent scoring threat on paper. ([ESPN.com][1])

3. **Matchup bets to watch (if you track analytics):** Buffalo’s red-zone efficiency vs. Falcons’ explosive play rate; Bills’ run-stop rate per rush attempt; and Penix’s sack/pressure rate (pressure → hurry → interception risk). If Buffalo improves interior run fits, they blunt Atlanta’s highest leverage weapon.

Carlos Bolsonaro passa mal e é atendido em hospital após prisão domiciliar do pai

 Carlos Bolsonaro passou mal após receber a notícia da prisão domiciliar do pai, Jair Bolsonaro, nesta segunda-feira (4). A assessoria do vereador do Rio de Janeiro confirmou a informação ao Estadão e disse que ele está sendo atendido em um hospital na Barra da Tijuca.

 


Mais cedo, Carlos publicou no X uma foto de Jair participando por telefone de ato realizado por apoiadores bolsonaristas no Rio de Janeiro. Até a atualização mais recente, o post ainda estava no ar. O irmão Flávio também publicou um vídeo do mesmo momento, porém, apagou a publicação. 

 

As imagens foram usadas pelo ministro do Supremo Tribunal Federal (STF), Alexandre de Moraes, no despacho que decretou a prisão.

 

Segundo o ministro, houve "flagrante desrespeito" do réu a medidas cautelares impostas a ele anteriormente. Uma delas era a proibição do uso das redes sociais, inclusive por terceiros.

 

"O flagrante desrespeito às medidas cautelares foi tão óbvio que, repita-se, o próprio filho do réu, o Senador FLÁVIO NANTES BOLSONARO, decidiu remover a postagem realizada em seu perfil, na rede social Instagram, com a finalidade de omitir a transgressão legal", registra o despacho.

 

Em ato na capital paulista, o deputado federal Nikolas Ferreira (PL-MG) mostrou no celular uma videochamada com Bolsonaro.

 

— Não pode falar, mas pode ver —afirmou ao público.

No Rio de Janeiro, um áudio de Bolsonaro foi conectado no sistema de alto-falantes.

— Boa tarde, Copacabana. Boa tarde, meu Brasil. Um abraço a todos, é pela nossa liberdade. Estamos juntos — disse o ex-presidente aos manifestantes que foram até a orla carioca.

Basic Foundations of financial management Build awareness of spending habits

 Understanding financial management is akin to learning the rules of a game that can significantly impact your life. Just as athletes analyze their strategies to improve performance, individuals can benefit from mastering the fundamentals of financial management to enhance their financial health. The goal? To build awareness of spending habits and empower yourself to make informed financial decisions.


The Basics of Financial Management

Financial management involves planning, organizing, directing, and controlling the financial activities of an organization or individual. It encompasses various principles that guide effective financial decision-making.

****Key Principles of Financial Management

Spend Less Than You Earn: This fundamental principle is crucial for maintaining financial stability. Living within your means allows you to save and invest for future goals.

Organize Your Finances: Keeping track of your income, expenses, and investments is essential. Use budgeting tools or apps to categorize your spending and identify areas for improvement.

Understand the Time Value of Money: Money available today is worth more than the same amount in the future due to its potential earning capacity. This principle encourages saving and investing early to maximize returns.

Limit Debt: While some debt can be beneficial (e.g., mortgages), excessive debt can lead to financial strain. Aim to limit debt to income-generating assets and avoid high-interest loans whenever possible.

Diversification: Just as diversifying investments can mitigate risk, spreading your spending across different categories can help you manage your budget more effectively.

****Recognizing Spending Habits

Understanding your spending habits is critical for achieving financial wellness. Here are some common patterns that may be affecting your finances:

Frequent Small Purchases: Small expenses can add up quickly. For instance, spending $5 on coffee daily translates to over $1,800 a year—money that could be redirected towards savings or investments.

Impulse Buying: Making unplanned purchases often leads to buyer’s remorse. To combat this, consider implementing a waiting period before making non-essential purchases.

Shopping as a Habit: Retail therapy may provide temporary satisfaction but can lead to overspending. Challenge yourself with a "no spend" weekend to reassess your priorities.

Not Tracking Spending: If you find yourself wondering where your money went at the end of the month, it’s time to start tracking your expenses diligently.

****Building Better Spending Habits

To improve your financial health, consider these strategies:

Create a Budget: A well-structured budget helps you allocate funds for necessities while allowing for discretionary spending without guilt.

Set Savings Goals: Define clear savings objectives—whether for retirement, emergencies, or vacations—and automate transfers to savings accounts.

Review Regularly: Periodically reviewing your budget and spending habits allows you to adjust as necessary and stay on track toward your financial goals.

Educate Yourself: Continuously learning about personal finance can empower you to make better decisions and adapt to changing circumstances.

Conclusion

Mastering the basics of financial management is not just about crunching numbers; it's about understanding how your spending habits reflect your values and priorities. By organizing your finances, recognizing harmful spending patterns, and building healthier habits, you set yourself on a path toward financial security and peace of mind. Remember, the journey toward financial wellness starts with awareness—take the first step today!

Box score: United States of America vs. Serbia, 2024 Olympic men's basketball exhibitio

Wednesday's big exhibition match versus Serbia was the next stop on USA Basketball's showcase trip.

USA vs. Serbia box score Full stats from 2024 Olympic men's basketball exhibition game


With victories over strong teams like Australia's and Canada's, the United States got off to a flying start in its 2024 Paris Olympics preparations.

In the tune-up games, head coach Steve Kerr shuffled the starting lineups around LeBron James, Stephen Curry, and Joel Embiid to see what worked best with star forward Kevin Durant out with a calf injury.

Jrue Holiday, Jayson Tatum, Anthony Edwards, and Devin Booker have all had opportunities to start. Even though he came off the bench in the first two games, Anthony Davis was the best player for Team USA.


When the US team faced Serbia and Nikola Jokic in the Paris Games' Group Stage, it got a taste of one of their opponents.


With a 24-point performance from Stephen Curry, the Red, White, and Blue cruised to their most convincing victory so yet, winning 105-79.

When pitted against their Olympic rival, how did the remainder of Team USA fare? Below you will see an updated box score provided by The Sporting News.

USA vs. Serbia basketball box score

  Q1 Q2 Q3 Q4 Final
USA 28 31 24 22 105
Serbia 28 17 13 21 79

USA stats

MIN PTS REB AST STL BLK FG-FGA 3P-3PA FT-FTA
Jayson Tatum 21 4 5 0 2 0 2-5 0-2 0-0
LeBron James 21 11 0 2 0 0 5-7 0-2 1-2
Joel Embiid 17 8 8 3 1 0 2-8 0-3 4-4
Stephen Curry 22 24 3 0 0 0 8-13 6-9 2-2
Jrue Holiday 21 8 2 2 1 0 3-4 2-2 0-0
Anthony Edwards 16 16 1 1 3 0 5-10 2-5 4-4
Tyrese Haliburton 15 0 1 3 1 0 0-1 0-1 0-0
Bam Adebayo 19 17 8 3 0 0 6-9 3-5 2-2
Anthony Davis 16 7 6 0 0 6 2-2 0-0 3-4
Devin Booker 16 3 0 1 0 0 1-3 1-2 0-0
Derrick White 9 3 0 1 0 0 0-1 0-1 1-2
Micah Potter 3 3 0 0 0 0 1-2 1-2 0-0
Langston Galloway 3 3 0 0 0 0 1-2 1-2 0-0
Nigel Hayes Davis 3 0 0 0 0 0 0-1 0-0 0-0

Serbia stats

PLAYERMINPTSREBASTSTLBLKFG-FGA3P-3PAFT-FTA
Ognjen Dobric301031004-82-40-0
Filip Petrusev241122305-70-11-1
Nikola Jokic2816112106-190-44-5
Marko Guduric26823303-52-40-0
Aleksa Avramovic171413105-92-52-2
Uros Plavsic13410001-30-02-2
Vasilije Micic22802002-82-82-2
Vanja Marinkovic22522102-71-30-0
Aleksej Pokusevski7021000-31-20-0
Dusan Ristic6320001-21-30-0

Microsoft pledges $4.3 billion investment at Macron’s ‘Choose France’ summit


Microsoft pledges $4.3 billion investment at Macron’s ‘Choose France’ summit

Microsoft announced its most substantial commitment yet to France, pledging on Monday to invest 4 billion euros ($4.3 billion) this year to bolster the country’s burgeoning artificial intelligence sector.

The move is part of a broader effort unveiled during President Emmanuel Macron’s pro-business event, Choose France, which aims to attract foreign investment and stimulate economic growth.

Microsoft’s vice chair and president, Brad Smith, visited the company’s French headquarters with Macron.

“We will build out the computing capacity here in France,” Smith said. “We will put this infrastructure to work for everyone in France.”

The plan includes expanding next-generation Cloud and AI infrastructure and delivering up to 25,000 of the most advanced GPUs, or graphics processing units, to France by the end of 2025.

Additionally, Microsoft will launch an AI skilling initiative to train 1 million French people by the end of 2027, emphasizing the importance of equipping citizens with future-ready skills.

The announcement was made as part of the annual Choose France summit, created by Macron in 2018. The summit, held this year at the Palace of Versailles, was attended by 180 international CEOs and senior business executives. It highlighted foreign investments totaling a reported 15 billion euros, surpassing last year’s 13 billion euros raised through 28 projects.

Macron addressed the necessity of advancing AI technology in Europe and told Microsoft staff, “We are entering a totally different world where the competition will be ferocious, and we can only win this competition if we have trusted partners, and you are among them.”

This significant investment underscores Microsoft’s commitment to supporting French growth in the AI economy and marks a milestone in the ongoing efforts to enhance France’s position as a global leader in technology and innovation.