SoftBank to invest $40bn for new Indonesia capital

SoftBank to invest $40bn for new Indonesia capital

JAKARTA: Japan's SoftBank is offering to invest $30 billion to $40 billion in the development of a new Indonesian capital, an official said Friday.. The capital's relocation to a 256,000-hectare (632,580-acre) site almost four times the size of Jakarta will cost an estimated 466 trillion rupiah ($34 billion).. Trade truce boosts China's hopes after weakest growth in 29 years /node/1614756/business-economy. US deal revives business confidence with latest data showing surprise acceleration in industrial output and investment. As expected, China's growth slowed to 6.1 percent last year, from 6.6 percent in 2018, data from the National Bureau of Statistics showed.. Analysts believe that long-term target would need growth this year to remain around 6 percent, though top officials have warned the economy may face even greater pressure than in 2019.. And December industrial output, investment and retail sales all rose more than expected after an improved showing in November.. On a quarterly basis, the economy grew 1.5 percent in October-December, also the same pace as the previous three months.. December data released along with GDP showed a surprising acceleration in industrial output and a more modest pick-up in investment growth, while retail sales were solid.. Industrial output grew by 6.9