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Indonesia banned iPhone 16 sales in 2024 for not meeting the requirement of 40% locally-made components in smartphones...

(Bloomberg) -- Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.Most Read from BloombergNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’Can American Drivers Learn to Love Roundabouts?Can States Hit the Brakes on Runaway Roadbuilding?Don’t Shrink the BusApple Inc. supplier Foxconn Technol...

(Bloomberg) -- Indonesia kept a ban on the sale of Apple Inc.’s iPhone 16s, saying its $1 billion plan that includes building an AirTag factory is insufficient to meet local investment requirements.Most Read from BloombergNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’Can American Drivers Learn to Love Roundabouts?Can States Hit the Brakes on Runaway Roadbuilding?Don’t Shrink the BusDomestic content rules require Apple...

Apple still cannot sell its iPhone 16 in Indonesia despite striking a deal to build a local production facility there, as it has not met domestic content rules, the industry minister said on Wednesday. Last year, Indonesia banned iPhone 16 sales after Apple failed to meet requirements that smartphones sold domestically should comprise at least 35% locally-made parts. Minister Agus Gumiwang Kartasasmita said Apple had struck a deal to build a facility producing its Airtag tracking device on Indonesia's Batam island, close to Singapore, but that still would not count as a locally-made iPhone part...

(Bloomberg) -- China will subsidize more consumer products and boost funding for industrial equipment upgrades, ramping up a program aimed at bolstering domestic consumption in the face of growing headwinds for exports.Most Read from BloombergNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’Can American Drivers Learn to Love Roundabouts?Can States Hit the Brakes on Runaway Roadbuilding?Don’t Shrink the BusConsumers will q...