Asia Roundup
UzNIF to Start Preparing IPO of Uzbekistan Airways
Uzbekistan’s National Investment Fund (UzNIF) will start preparations for an initial public offering of Uzbekistan Airways as the fund moves to the next stage of its capital-attraction strategy, Bloomberg reported.
UzNIF will start by selecting equity capital markets advisers for the airline and some other portfolio companies this month, Marius Dan, chief executive officer of Franklin Templeton Central Asia, said at the Tashkent International Investment Forum.
The fund, managed by a unit of Franklin Templeton, holds stakes of between 25% and 40% in 13 Uzbek companies and was listed in London last month, marking Uzbekistan’s first entry into international equity markets.
China’s College Graduates Follow Industry to Smaller Cities
Chinese college graduates are moving steadily into advanced manufacturing and modern services and away from top-tier cities, as industrial investment spreads to smaller urban centers and reshapes the country’s employment market, Caixin reported, citing a report from education consultancy MyCOS.
The report comes as families of students who have just finished China’s 2026 national college entrance exam enter the crucial period of choosing majors and filling out university applications. Employment prospects remain a central consideration in selecting schools and majors.
Vedanta Chair Confident About Dividends, Focused on Growth as Indian Conglomerate Splits Up
The founder of Indian conglomerate Vedanta said he is confident of continued dividends even as the company breaks up to pursue ambitious growth plans in a bet on booming commodities demand locally, The Wall Street Journal reported.
Vedanta split into five listed companies on India’s stock exchanges, a demerger that founder and Chairman Anil Agarwal says will allow Vedanta’s zinc and copper, aluminum, oil and gas, power, and iron and steel businesses to expand more quickly than they could together.
Indonesia Roundup
Prabowo’s Inner Circle
Four months ago, Acrostics Asia wrote that Indonesia was entering a riskier chapter as President Prabowo Subianto appeared to be turning more insular. “It depends on who gets to his ears first,” one of the sources who’s involved in Indonesian politics said.
The former general has multiple advisers, but the innermost circle is occupied by his younger brother, Hashim Djojohadikusumo, and his military schoolmate, Defence Minister Sjafrie Sjamsoeddin, according to Acrostics Asia’s report on 18 February 2026.
A third prominent figure is Sufmi Dasco Ahmad, a senior official in Prabowo’s Gerindra Party who serves as a deputy speaker of the House of Representatives.
Acrostics Asia also wrote on 5 March 2026 that another person who has the president’s ears is Cabinet Secretary Teddy Indra Wijaya, who’s a lieutenant colonel.
While the president’s younger brother, Hashim, is a veteran businessman who’s familiar with the way capital markets work, some technocrats are finding it harder to get their voices heard in the upper echelon, according to the Acrostics Asia report.
On 17 June 2026, Bloomberg reported that all four figures were among Prabowo’s most influential advisers.
Garuda Indonesia’s Maintenance Unit Unveils Plans for Quasi-Reorganization
Flag carrier Garuda Indonesia’s aircraft maintenance unit, Garuda Maintenance Facility Aero Asia (GMF AeroAsia), has unveiled plans for a quasi-reorganization, Jakarta Globe reported.
The move is aimed at eliminating GMF’s negative retained earnings “by setting it off with certain financial posts of the company in accordance with the prevailing capital market regulations”.
Acrostics Asia is an independent credit intelligence provider that delivers forward-looking insights across Asian sovereigns, private credit and restructurings.