Rp117tn Loss from Illegal Investments
JAKARTA -The Financial Services Authority’s (OJK) Investment Alert Task Force (SWI) said that public losses due to participating in illegal investments reached Rp117 trillion. The figure was taken from reports over the last 10 years. “People’s losses due to illegal investments have reached Rp117 trillion in the…
Seven Lenders Are Transforming Into Digital Banks, Heating Up Competition
JAKARTA -Seven small-sized lenders, including the units of two of Indonesia’s largest lenders by assets, have notified the banking authority of their plan to become digital banks, marking a heated competition in the country’s digital financing industry. On Thursday, the Financial Services Authority (OJK) revealed that Bank BCA Digital, the…
Indonesia’s digital economy to grow eight-fold by 2030: Minister of Trade
JAKARTA – Trade Minister Muhammad Lutfi has predicted Indonesia’s digital economy will grow eight-fold from Rp632 trillion in 2020 to Rp4,531 trillion in 2030. “E-commerce will play a crucial role (by contributing) 34 percent, or Rp1,900 trillion (to the digital economy),” he said following a…
The little engine that could, and the oil giant that couldn’t
JAKARTA – Last December, when a week-old hedge fund named Engine No. 1 challenged Exxon Mobil to change its ways, laughter echoed through Wall Street circles, from the fund’s name that recalled a famous children’s book to its tiny, then-$40 million stake in what was…
INA-CDPQ-APG-ADIA Establish Investment Platform to Invest in Toll Road Assets
JAKARTA -Indonesia Investment Authority (INA), Caisse de dépôtet placement du Québec (CDPQ), APG Asset Management (APG), and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) to establish Indonesia’s first infrastructure-focused investment platform and INA’s first investment vehicle since its establishment. The Memorandum…
Indonesian exports surge in April on higher commodity prices
JAKARTA -Indonesia’s exports racked up their strongest rise in 11 years in April, boosted by a surge in prices of key commodities such as palm oil and copper, though the unexpectedly robust figure is not expected to change the central bank’s policy settings. The resource-rich…
GoTo will invigorate Indonesia’s stock market, but may need organizational restructuring, experts say
JAKARTA -It has been a momentous few days for Indonesia’s tech ecosystem as the country’s two most valuable tech companies, Gojek and Tokopedia, finally tied the knot to form a new entity called GoTo. The firms picked the right time for this announcement: it was…
Indonesia, Pakistan ink MoU to intensify bilateral trade
JAKARTA -The Indonesian Embassy in Islamabad and Pakistani e-commerce company, E-commerce Pvt Ltd, inked a memorandum of understanding (MoU) to further explore collaboration to facilitate efforts to boost trade between Indonesia and Pakistan. Based on the MoU signed on Wednesday (May 19), the Indonesian embassy…
Pertamina Geothermal eyeing production of green hydrogen
JAKARTA -Pertamina Geothermal Energy (PGE) is starting to seriously look into the green hydrogen development in Indonesia, so a report by Kata Data. To realize this ambition, PGE needs an initial investment of around US $ 5 million or Rp 71.8 billion. PGE President Director Ahmad…
The Power of Education to Transform Societies
JAKARTA -In The Fireside Chat Session with Ilham Habibie, Co-Founder of Orbit Future Academy on 2nd Annual Indonesia Education Forum 2021, Minister Nadiem Makarim delivered a passionate call for change in thinking and practice to transform the world’s 4th largest education system. Technology, he noted,…
