The deal was forged during President Prabowo Subianto’s three-hour meeting with Russian President Vladimir Putin on April 13.

While airfreight volumes are expected to grow at a high single‑digit rate in the quarter, sea freight volumes are forecast to rise only at a low single‑digit pace year on year.

Iran on Wednesday captured two container ships seeking to exit the Gulf via the Strait of Hormuz, tightening its grip on the crucial waterway, as investors watch if the fragile ceasefire in the Middle East will hold.

India, the world's biggest urea importer, issued the tender earlier this month to secure 2.5 million tons of the fertilizer, or nearly a quarter of its annual imports of about 10 million tons in 2025.

Australia's Lynas facility in Gebeng, Malaysia is now the world's largest single rare earths processing plant.

With the two-week truce in its final hours, the US president said he would push the deadline back indefinitely following a request from mediator Pakistan and stressing the need to give Tehran's "fractured" leadership time to form a proposal.

Investors remained largely upbeat that the US and Iran will eventually come to a deal that will reopen the Strait of Hormuz.

The ceasefire in the Iran war, due to run until Tuesday, was in doubt after the US seized an Iranian cargo ship and Tehran's top military command vowed to retaliate.

The strategic Strait of Hormuz was again closed on Sunday in the stand-off between Iran and the United States, with Iran's powerful parliament speaker signaling a final peace deal remained "far" off despite some movement in negotiations.

The US-sanctioned tanker Rich Starry made its way back to the Strait of Hormuz on Wednesday after exiting the Gulf the day before, shipping data showed, failing to break through a US blockade on vessels calling at Iranian ports.

Stocks rose and oil fell Tuesday on hopes for a deal to end the Middle East war and reopen the Strait of Hormuz, with Donald Trump saying Tehran had called to seek an agreement even as a US naval blockade around Iran's ports began.

Oil prices surged and stocks sank Monday after US-Iran peace talks fell apart and Donald Trump announced a blockade of the strategic Strait of Hormuz, adding to fears for energy supplies from the Middle East.

The US oil benchmark rebounded above $100 a barrel on Monday after peace talks between the United States and Iran failed to make a breakthrough, and with US President Donald Trump ordering a blockade of Iranian ports.

Oil prices jumped and most stock markets fell Thursday on investor concerns over the Middle East ceasefire holding and as the key Strait of Hormuz remained largely blocked to traffic.

Oil prices climbed and stocks fell Thursday on fears over the nascent US-Iran ceasefire after Tehran threatened to resume hostilities after Israel launched a major bombardment of Lebanon.

Stocks soared and oil plunged in early trade in Asia on Wednesday after the United States and Iran agreed to a two-week ceasefire, with Tehran temporarily to reopen the vital Strait of Hormuz.

Global stocks wavered on Tuesday, while oil prices were perched near US$110 per barrel as the prospect of escalation in the war in the Middle East and the looming deadline for a deal to be reached kept nervy investors on the sidelines.

Crude oil prices opened higher on Monday, with US benchmark West Texas Intermediate up 1.86 percent to US$113.62 a barrel, as the war in the Middle East continues to squeeze global energy supplies.

The proposed reforms were unveiled after index provider MSCI warned in late January that the country was ​at risk of being downgraded amid concerns about a lack of transparency around stock ownership and ​trading.

India sources most of its palm oil from Indonesia and Malaysia, while soy oil and sunflower oil are imported mainly from Argentina, Brazil, Russia and Ukraine.

Oil prices spiked and stocks sank on Thursday after Donald Trump reiterated that US forces would hammer Iran for another two to three weeks but offered no solution to the closure of the Strait of Hormuz that has crippled global markets.

Asian stock markets including Jakarta rallied Wednesday after US President Donald Trump said the Middle East war would be over in up to three weeks and his Iranian counterpart said Tehran had "the necessary will" to bring it to an end.

The dollar headed for its biggest monthly gain since July on Tuesday and stands out as the strongest so-called safe asset as war in the Middle East has set oil prices surging, nearly everything else sinking and raised the risk of global recession.

Japan stepped up yen intervention threats and signaled that further falls in the currency could justify a near-term interest rate, as policymakers grow increasingly concerned about inflationary pressures from the Middle East war.

Indonesia, Vietnam, Thailand, the Philippines and Sri Lanka are lining up ‌to buy Russian oil as the Iran war blocks supplies, raising the possibility that demand may exceed supply.

Fears of an inflationary aftershock from soaring energy prices have pushed traders to price out any chance of a Federal Reserve rate cut this year, lifting the dollar.

Following the Nyepi-Lebaran long holiday, the bourse resumed trading on March 25 with a positive tone that was mirrored by regional markets on investor sentiment buoyed by reports that Washington was exploring diplomatic channels for de-escalation with Tehran.

The inaugural event, to be held on May 12 at The Langham, Jakarta, is arranged to reflect Indonesia’s unique tourism realities while addressing the evolving demands of travelers, brands and capital. 

Stock markets in Tokyo and Seoul spiked by more than three percent at one point, while those in Hong Kong, Sydney, Shanghai, Singapore, Wellington and Taipei also rallied.

Markets were taken on a rollercoaster ride at the start of the week after Trump added five days to his Saturday ultimatum for Iran to reopen the Strait of Hormuz within 48 hours, citing productive talks with unidentified Iranian officials, which Tehran has denied.