Indonesia’s 2024 presidential candidates have presented their visions of how they will manage the country’s quickly growing digital economy if they are elected.

Jala has raised US$13.1 million in a series A round as the company sets its sights on expansion into remote areas of the country.

Passengers appear content with the high-speed part of the journey, but less so with the connection in Bandung regency.

Telkomsel Mitra Inovasi (TMI), the venture capital arm of state-owned telecommunications operator Telkomsel, has rebranded itself as Telkomsel Ventures and launched a second fund to invest in digital economy firms.

Many internet business players have called for government intervention to deal with the excessive number of internet service providers (ISPs) saturating the market, which they blamed for fueling cutthroat competition and dragging down efforts to improve the country’s internet quality.

Binance founder and CEO Zhao Changpeng will admit violating US laws as part of a deal to resolve a US probe into illicit finance breaches, according to a source familiar with matter.

Gary Marcus, a respected AI expert, said OpenAI's civil war "highlights the fact that we can't really trust the companies to self-regulate AI where even their own internal governance can be deeply conflicted." 

Customers of a dozen banks in Singapore and Indonesia will now be able to make payments to merchants in both countries by scanning QR codes, Bank Indonesia and the Monetary Authority of Singapore (MAS) said in a joint statement.

Venture capital firms expressed cautious optimism about the country’s healthcare technology industry, urging start-up firms to adopt more realistic strategies in order to survive and to secure more capital in today’s landscape.

China's foreign ministry said on Friday the lender is striving to minimize risk impact and losses after the attack.

Indonesia is expected to see a deceleration in its digital economy growth in the coming years, in line with other emerging countries in the ASEAN region, as tech companies in the bloc face pressure to shift to profitability after years of focusing on growth.

Two Singapore-based VC executives said Southeast Asian firms still had an advantage because of their cultural and business insights into local markets, despite tighter competition due to the growing presence of Chinese investors in the region.

The Southeast Asian electronics manufacturing hub already hosts US giant Intel's largest semiconductor packaging and testing plant worldwide and is home to several chip designing software firms. It is working on a strategy to attract more semiconductor investment, including from foundries, which focus on manufacturing chips. 

Bankman-Fried, taking the witness stand hours after the prosecution rested its case presented over 12 trial days, gave testimony that fit with the defense argument that he acted in good faith while running FTX, which collapsed in November 2022 following a wave of customer withdrawals.

The founding duo of the popular coffee chain Kopi Kenangan have launched their latest business, venture capital firm Kopital Ventures, amid a complicated market environment.

China has stepped up spending to replace Western-made technology with domestic alternatives as Washington tightens curbs on high-tech exports to its rival, according to government tenders, research documents and four people familiar with the matter.

Industry leaders told a panel discussion on Tuesday at the World Financial Innovation Series that AI was overhauling banking through predictive analytics that enabled tailored insights, precise pricing and reduced fraud risks.

Fears of a slowing global economy have prompted companies to curb spending on cloud-related services, including expensive AI tools, which has slowed revenue growth at Google's cloud unit to 22.5% in the third quarter, from 28% in the prior three-month period.

Analysts say digital banks in Indonesia may need some three years to achieve greater stability in their financial performance.

Venture capital now focuses more intently on data and founders’ profiles before approving business proposals. 

Stilt Studios, a start-up specializing in prefabricated modular homes, has secured US$10 million in a series A funding round consisting of a mix of debt and equity.

However, the experts also note that a reduction of interest on loans should not keep P2P creditors from getting “proper” returns.

Jakarta and The Hague have signed an agreement to jointly develop solar power as the countries pledge to boost bilateral energy cooperation.

State-owned food holding company ID Food signed a partnership agreement with local blockchain firm D3 Labs on Oct. 3 to establish a blockchain-based fish exchange aimed at improving the efficiency and transparency of the country's fisheries markets.

Analysts say the rivalry between e-wallets and banking apps is not a zero-sum game, as each could have their own market.

The Business Competition Supervisory Commission (KPPU) is forming a task force to investigate the Indonesian Joint Funding Fintech Association (AFPI) over alleged rate fixing.

The tycoon has long railed against the "legacy media" and claims X, formerly Twitter, is a better source of information.

Bankman-Fried, 31, has pleaded not guilty to charges he used FTX customer money from the exchange's 2019 launch until its November 2022 bankruptcy in order to prop up his hedge fund, Alameda Research, buy luxury real estate, and donate to US political campaigns and candidates.

At least two major Indonesian superapp firms have cut down the services they offer in favor of their core, profitable operations, a strategy analysts say could be key to keeping the companies competitive as more players enter the market.

The EU will signal Tuesday how Brussels will muscle up to counter China's aggressive trade policies, including by unveiling a list of sensitive technologies that must be kept out of Beijing's hands.