Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Australian Household Spending Dips in December as RBA Tightens Policy 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Hyundai Motor Group is bringing its advanced air mobility business to the Southeast Asian market and to realize this project, it has signed a memorandum of understanding (MOU) with the Indonesian government on Monday, Nov. 14.
Through the agreement, the South Korean automaker will set up an air mobility ecosystem in Indonesia’s new capital. The MOU was signed by Hyundai Motor’s president and head of the advanced air mobility unit, Shin Jai Won, and Bambang Susantono, the head of the Nusantara Capital City Authority in the country during the Business 20 (B20) Summit that was held in Bali, Indonesia.
Indonesia is said to have the largest aviation market among the ASEAN nations and in the process of moving its capital to another location, the government is looking to build a smart mobility ecosystem. In this regard, Hyundai Motor will do the work for the new capital city of the country.
The automaker has expertise in this field as it is one of the leading urban air mobility (UAM) service providers in its home ground thus it will be able to provide the service that the Indonesian government is looking for. In any case, Hyundai Motor is also benefitting from this agreement as it hopes to boost its presence in the Southeast Asian AAM market through this joint project.
“The MoU aims to introduce AAM as part of a smart mobility ecosystem in the new capital city that Indonesia is working to establish,” Hyundai Motor said in a press release. “The Group plans to develop a roadmap and review the concept of consolidated mobility for ground and air while carrying out an AAM demonstration project and test flights.”
The head of the Capital City Nusantara Authority also commented that "Implementing advanced air mobility in Nusantara is in line with OIKN's spirit of being a 'living laboratory' in Indonesia, open to creating a culture of new learning, working and lifestyle, and we value Hyundai Motor Group's cooperation in developing Nusantara as a smart and sustainable city."
Meanwhile, Korea Joongang Daily reported that the Nusantara Capital Authority Agency was only created in March as Indonesia is working to relocate its capital from Jakarta to a new city which the government named Nusantara.
