/   

Business

  • Goodbye, hello

    Danamon’s new president director, Sng Seow Wah (second left), shakes hands with his predecessor, Henry Ho (center), witnessed by vice president director Muliadi Rahardja (left) after an extraordinary shareholders meeting in Jakarta on Friday. The meeting approved Henry Ho’s pension after his stepping down from his post as Danamon CEO and appointed Sng Seow Wah as new president director and Muliadi Rahardja as vice president director.

  • Unilever commits to investment plan

    British-Dutch multinational consumer goods company Unilever has reaffirmed its long-term commitment to Indonesia, as the multinational firm’s global CEO visited the State Palace on Friday to meet with President Joko “Jokowi” Widodo.

  • Maybank to enhance business in RI, Spore

    Malaysia’s Malayan Banking Berhad (Maybank), the fourth largest lender in Southeast Asia, aims to enhance its business in international banking, including through its Indonesian subsidiary, so that it can have a stronger footing in the emerging region.

  • GM plans a clean slate with green cars

    Following its factory shutdown, auto giant General Motors (GM) of the US may try its luck yet again in the Indonesian market by producing and selling the rising domestic product — low-cost green cars (LCGC) — through a US$700 million plant it will build with Chinese partners SAIC Motor Corp. and Wuling Motors, industry officials said.

  • Fish processing facilities used to ‘camouflage’ transshipment

    The Maritime Affairs and Fisheries Ministry has leveled accusations at owners of low-yield fish processing units (UPI) for setting up facilities as a ruse to obtain permits and conduct transshipment practices for overseas delivery.

  • ‘Made in RI’ smartphone rule to roll out midyear

    A regulation requiring a certain minimum of local content on all 4G mobile phones sold in the country will be rolled out in the first half this year, limiting expansion of international smartphone manufacturers such as Apple.

  • JCI falls slightly at Friday’s close

    The Jakarta Composite Index (JCI) closed on a negative note on Friday as it declined slightly by 0.02 percent to finish at 5,450.29 points.

  • Rupiah closes at Rp 12,892 per dollar on Friday

    The rupiah interbank trade rate in Jakarta closed on Friday at Rp 12,892 per US dollar, down 24 basis points from Rp 12,868 per US dollar in previous trade.

  • Malaysia's Petronas swings to $2.02 billion loss in Q4

    Malaysian state energy firm Petronas said Friday it posted a net loss of 7.3 billion ringgit (US$2.02 billion) in the fourth quarter due to a slide in global oil prices and asset impairment losses.

  • KAI to increase fares by up to 60% in April

    State-run train operator PT Kereta Api Indonesia (KAI) will increase fares by between 30 and 60 percent beginning the first day of April following a Transportation Ministerial decree no.17/2015 on the adjustment of the train-services tariff.

  • Sail Tomini 2015 to accelerate C. Sulawesi’s tourism sector

    The annual Sail Indonesia event will be held in Tomini, Central Sulawesi, in 2015 in an effort to accelerate economic growth and develop marine tourism destinations in Indonesia.

  • BKPM to evaluate General Motors’ plant shutdown

    The Investment Coordinating Board (BKPM) says that it is going to evaluate the closure of US auto giant General Motors’ assembly plant in Bekasi, West Java, and will coordinate with a number of relevant ministries in order to anticipate the impacts.

  • Garuda, Czech airlines team up to enhance networks

    National flag carrier Garuda Indonesia recently signed a memorandum of understanding (MoU) with České Aerolinie AS (Czech Airlines) in Prague, Czech Republic, to develop the carrier’s networks in Europe.

  • LG takes on Samsung, Apple with new smart watch

    Tech giant LG Electronics said Thursday that it would unveil the world’s first Long Term Evolution-support smart watch at a mobile trade show next week, upping the ante against rivals Samsung and Apple.

  • Rupiah opens at Rp 12,852 per dollar on Friday

    The rupiah interbank trade rate in Jakarta appreciated slightly on Friday morning by 16 basis points to Rp 12,852 per US dollar from Rp 12,868 per dollar in the earlier trade.

  • JCI climbs 0.15% on Friday morning

    The Jakarta Composite Index (JCI) opened on a positive note on Friday, climbing by 0.15 percent to 5,459.55 points.

  • More Japanese tourists visiting Bali

    The number of Japanese holidaymakers visiting the tourist island of Bali has increased sharply so far this year.

  • Asian stock markets lackluster after Wall Street decline

    Asian stocks were lackluster Friday after U.S. markets drifted lower and Japan reported faster growth in factory output but weaker retail sales.

  • Japan's inflation rate falls in Jan on lower energy costs

    Japan's core inflation rate edged lower in January as lower crude oil prices reduced energy costs, while weak retail sales and employment data underscored the fragility of the recovery of the world's third-largest economy.

  • Shaolin pays US$3.28m to close land deal in Australia

    China's Shaolin Temple has paid A$4.162 million (US$3.28 million) to a southeastern coastal city in Australia's New South Wales state, closing an outstanding land purchase deal, abc.net.au reported.

From Our Networks