Indonesian Banks Sell Like Hot Cakes and It Is Good for the Industry

Foreign investors have been buying close to $7 billion worth of shares in Indonesian banks since last year.

#SECURITIES

TikTok, Facebook, Disney, Apple Agree to Collect 10% VAT for Indonesia

The global technology giants have followed Netflix's footsteps to collect value-added tax for the Southeast Asian largest economy.

AUGUST 07 #POLICY

Indonesia's Foreign Reserves Hit Record High at $135b

Government taking loans from multinational institutions and issued dollar-denominated sovereign bonds boost the reserves to a record high.

AUGUST 07 #ECONOMY

Free Cash: Indonesia to Transfer $82 to the Accounts of 13.8m Workers Every Other Month

The direct cash transfer is the government's latest effort to boost consumer demands and reinvigorate the economy.

AUGUST 06 #ECONOMY

Slow Spending of Covid-19 Stimulus Condemns Indonesia to Worst Contraction in Two Decades

Indonesia's economy has shrunk by 5.3 percent in the second quarter this year, much worse than many predictions.

AUGUST 05 #ECONOMY

Indonesia Sees Another Record Low Inflation Since 2000

The country's consumer price index rose 1.54 percent in July from a year ago, compared to 1.96 percent inflation in June.

AUGUST 03 #ECONOMY

OVO Claims It's Now Indonesia's Largest Fintech Ecosystem

More than just a payment platform, OVO users can now invest in a mutual fund, government securities and gold.

AUGUST 01 #CORPORATE NEWS

VISION

No More Dancing: Pandemic Becomes A Quiet Time for Jakarta's Ondel-Ondel

Ondel-ondel artisans in Kramat Pulo try to survive the pandemic-ridden business.

#EYEWITNESS

Moody's Sees 20% Drop in Indonesian Companies Earnings Amid Pandemic

Companies in oil and gas, mining and property, and textile sectors were among the hardest hit by the pandemic, the agency said. 

JULY 31 #COMMODITY

Indonesia Keeps Deficit High in 2021 as Covid-19 Uncertainties Persist

Government plans to increase spending on food security, telecommunication, industrial estates, education, and healthcare.

JULY 29 #ECONOMY

Traveloka Confident of Recovery After Securing $250m New Funding

The company raises enough cash to steady its footing and bounce back after the Covid-19 pandemic. 

JULY 29 #CORPORATE NEWS

Digital Payment on the Rise as Top Four E-Commerce Eye $29b Sales Amid Pandemic

Digital transactions at four major e-commerce sites in Indonesia would double this year to $29 billion from $14 billion last year.

JULY 24 #CORPORATE NEWS

Indonesia FDI Contracts in Q2 as Covid-19 Restrictions Disrupt Projects

Foreign direct investment into Indonesia has dropped 6.9 percent in the second quarter from the same period last year.

JULY 22 #ECONOMY

Buyung Poetra Stays on Expansion Mode Amid Pandemic

The company is building a new rice processing plant in South Sumatra to boost production capacity by 27 percent by next year.

JULY 22 #CORPORATE NEWS

Jokowi Tasks Airlangga, Erick With Fixing the Economy and Defeating Covid-19

President Joko "Jokowi" Widodo has concocted a new committee tasked with dual aims of maintaining the economy and beating the pandemic.

JULY 21 #POLICY

Anthoni Salim Secures Narrow Win for $3b Pinehill Deal

Indofood CBP Sukses Makmur is cleared to acquire Pinehill Company from another Salim-controlled firm, Pinehill Corpora.

JULY 17 #CORPORATE NEWS

BI Lowers Interest Rate as Slack Gov't Spending Leads to Sharp Contraction in Q2

The central bank cut its benchmark interest rate to 4 percent to prop up the economy that could have shrunk by 4 percent in the 2nd quarter.

JULY 16 #ECONOMY

Pertamina Announces Breakthrough in 100% Biofuel Manufacturing

A trial run in Pertamina's Dumay refinery produced 1,000 barrels biofuel per day early this month.

JULY 16 #COMMODITY

Taiwan's Cathay Life Seeks to Increase Ownership in Bank Mayapada

The move that reflects confidence in the lender's stability and improvement.

JULY 15 #CORPORATE NEWS

Widodo Makmur Group Plots $277m IPO

Widodo Makmur Unggas, an integrated poultry company, mulls a plan to raise Rp 2 trillion, or $139 million, in October IPO.

JULY 13 #CORPORATE NEWS

As Money Printer Goes Brrr, The Onus Is Now on Bureaucrats to Spend

Jokowi has been lamenting how slow the ministries and state institutions spend the $48.6 billion stimulus package.

JULY 09 #ECONOMY