Workers load cars onto a truck at the Astra Daihatsu Motor (ADM) car factory in Karawang, West Java, on August 2019.

Global chip crunch stunts Indonesia car sales recovery

Automakers see the semiconductor shortage as preventing them from fully using a temporary tax cut on new cars to recover sales to prepandemic levels.

3 years ago

Business premium

XL profit falls in Q3 as tower sale income dries

Telco company XL Axiata saw its profit drop by 51 percent to Rp 1.01 trillion (US$70.86 million) in the January to September period, from Rp 2.07 trillion a year earlier. ...

3 years ago

Business premium

Bank KB Bukopin seeks to raise Rp 7.04t through rights issue

Publicly listed Bank KB Bukopin is seeking to raise trillions of rupiah in a rights issue later this month as part of its efforts to develop its technological infrastructure and expand lending to the small business and retail sectors. ...

3 years ago

The Latest

A barge transporting coal is seen behind an angler casting his line at a beach in Banda Aceh, Aceh, during Earth Day on April 22, 2021.

Business premium

Mining SOEs gain more privilege with recent court ruling

The Constitutional Court (MK) has revoked the special mining permit (IUPK) guarantee for the work of private-sector mineral and coal mine contract holders.

3 years ago

A banner shows a message urging taxpayers to submit their returns.

Business premium

Fringe benefits from cars to houses to count as taxable income

Based on a recently passed law, the plan to tax non-wage compensation is aimed at expanding tax-collection efforts.

3 years ago

Finance Minister Sri Mulyani Indrawati (center) attends the Asian Development Bank (ADB) ETM partnership launching held on Nov. 3 in Glasgow, Scotland.

Business premium

ADB, Indonesia launch plan to retire coal plants early

Japan has committed US$25 million grant to the plan.

3 years ago

Finance Ministry Sri Mulyani Indrawati speaks at the House of Representatives on Sept. 13, discussing a draft bill on fiscal relations between centers and regions (RUU HKPD) and the bill on the general provisions on taxation (RUU KUP).

Business premium

More industries eligible for tax incentives

The Finance Ministry expanded its incentive program on the belief that the COVID-19 pandemic is still weighing on businesses.

3 years ago

Former Bank of England Governor Mark Carney gives a speech at COP25 in Madrid on Dec. 10, 2019. Carney is the man behind the Glasgow Financial Alliance for Net Zero.

Business

Finance coalition worth $130 trillion eyes net zero by 2050

The alliance brings together some 450 banks, insurers and pension funds with US$130 trillion in assets.

3 years ago

A clerk counts US dollar banknotes on Sept. 27, 2021 at a money changer in Ankara.

Business premium

13 countries to help Indonesia pursue overseas taxpayers

Indonesia has gained international cooperation to pursue recalcitrant taxpayers beyond its borders.

3 years ago

A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, United States, on Aug. 9.

Business

Stocks rise as Fed tapers without the tantrum

Nasdaq and S&P 500 futures gained on Thursday after the US Federal Reserve announced plans to wind down its massive bond-buying stimulus program.

3 years ago

Business

Indosat Ooredoo and Cisco ink deal to bring 5G to Indonesia

Indosat Ooredoo and Cisco have announced their partnership and signed a memorandum of understanding (MoU) on a potential collaboration to develop next-generation connectivity solutions for businesses of all sizes and across various industries.

3 years ago

Primary commodity: Coal is discharged from a barge at the Suralaya coal-fired power plant in Cilegon, Banten, on Sept. 22. Coal producers are currently enjoying a rise in the price of the commodity as a result of pent-up demand.

Business premium

Commodity supercycle could spell good news for Indonesia

With prices for energy, metal and agricultural resources near record highs, some believe a new commodity supercycle is upon us as the world emerges from the pandemic. Others have doubts.

3 years ago

Indonesian Employers Association (Apindo) chairman Hariyadi B. Sukamdani talks to the press at Apindo's headquarters in Jakarta on Dec. 11, 2019.

Business premium

Apindo lobbies for limited increase in minimum wage

The Indonesian Employers Association (Apindo) seeks to constrain the 2022 minimum wage by demanding that an increase be based on the Job Creation Law rather than on labor union demands.

3 years ago

Anytime, anywhere: A user browses the movies on offer on a streaming service app.

Business premium

Vidio nears unicorn status with first external funding

Indonesia is close to seeing another unicorn emerge as the OTT media service reaches a valuation of $900 million after bagging its first investment worth $150 million.

3 years ago

An iceberg floats along the eastern cost of Greenland near Kulusuk (aslo spelled Qulusuk) on Aug. 15, 2019. China's top climate negotiator said on Tuesday a broad deal on carbon markets was possible at the UN COP26 climate talks despite the tensions between Beijing and Washington.

Business

China optimistic on climate markets deal after 'wasted' years

Some delegates say the US-China relationship is crucial for meaningful progress on global climate action at the summit.

3 years ago

President Joko "Jokowi" Widodo meets Australian PM Scott Morrison on the sidelines of the G20 summit in Rome on Saturday.

Business premium

Coal giants Indonesia, Australia pledge teamwork on energy transition

The effort entails developing "low-emission technologies" including carbon capture and electric vehicles.

3 years ago

A man walks by the towers of the coal-fired Rooiwal Power Station on the outskirt of Pretoria, South Africa, on Oct.13, 2021.

Business

South Africa to get $8.5 billion from rich countries to phase out coal

South Africa plans to use the funds to repurpose coal plants, develop low-emission technology industries, and create alternative job opportunities for coal miners.

3 years ago

President Joko "Jokowi" Widodo gives a speech on forest and land use before world leaders at the 2021 United Nations Climate Change Conference in Glasgow, United Kingdom, on Nov. 2, 2021.

Business premium

Jokowi signs carbon-pricing regulation

President Joko “Jokowi” Widodo has signed a presidential regulation on the economic value of carbon, marking a key step in Indonesia’s effort to deliver on its nationally determined contribution and its net-zero pledge.

3 years ago

State electricity company PLN is heavily reliant on coal to fuel its power plants. This undated photograph shows coal being loaded onto a barge on the Mahakam River in Samarinda, East Kalimantan.

Business premium

PLN plans to use carbon capture, nuclear by 2040

State-owned electricity company PLN has announced a plan to convert and optimize power plants to achieve net-zero emissions by 2060 in its Zero Carbon 2060 roadmap.

3 years ago

Final check: A worker inspects the quality of the product at a steel factory in the Cikarang industrial estate of Bekasi, West Java, on Oct. 4, 2019.

Business premium

Manufacturing activity reaches record-high in October

Manufacturing activity in Indonesia has reached a record-high, but supply shortages are causing concern about rising input costs.

3 years ago

Business

Public, private sector collaboration essential to fund, implement climate goals

Finance Minister Sri Mulyani said in a recent dialogue with Asia House that Indonesia would need at least $5.7 billion every year to fund its green energy transition.

3 years ago

Electronic boards display various stock prices at Exchange Square in Hong Kong, China, on March 9, 2020. Asian shares were mixed on Tuesday and currencies held tight ranges as nervous investors awaited several key central bank meetings.

Business

Asian shares mixed as investors await crucial central bank decisions

Asian shares were mixed on Tuesday and currencies held tight ranges as nervous investors awaited several key central bank meetings that could set the tone for risk appetite heading into next year.

3 years ago

Business

Green housing takes centerstage at crossroads of sustainability and urbanization

Experts have revealed that the rise in urban populations across Asia has led to shortages of affordable housing in numerous cities.

3 years ago

President Joko "Jokowi" Widodo (left) starts his work agenda in Rome on Oct. 31 by holding a bilateral meeting with Australian Prime Minister Scott Morrison.

Business premium

Indonesia pushes for vaccinated travel lane with Australia to boost tourism

The proposals comes as Australia eases international travel restrictions, and as Indonesia reallows international flights into Bali.

3 years ago

A student attends an online class at an internet cafe in Yogyakarta in this undated photo.

Business premium

Internet adoption slows in Indonesia

The number of internet users continued to increase last year but at a slower pace than in 2019.

3 years ago

The interior of Terminal 3 of Soekarno-Hatta International Airport in Tangerang, Banten.

Business premium

Inflation rises for fourth month in a row to 1.66% in October

The transportation spending group, especially airfares, was the largest driver of inflation in October.

3 years ago

Handle with care: Loading and unloading activities are carried out at a container terminal operated by PT Pelindo IV in Makassar, South Sulawesi, on Sept. 20, 2021.

Business premium

UAE's DP World sets sights on Indonesian seaports

From developing port terminals to industrial zones, an investment partnership by the UAE-based logistics company and the Indonesia Investment Authority (INA) could rise to $7.5 billion.

3 years ago

Endless resource: An employee counts cash at a money changer in Jakarta. Indonesia’s banks expect faster loan growth in 2022 after a marked performance improvement in late 2021.

Business premium

Indonesia's banking industry eyes higher loan growth next year

Several banks have upped their loan growth targets for the coming year as they aim to increase lending on the back of a recovering economy.

3 years ago

Japan's ruling Liberal Democratic Party General Secretary Akira Amari (left) bows to Prime Minister and party leader Fumio Kishida at the party headquarters in Tokyo on Oct. 31, 2021, following Japan’s general election.

Business

Tokyo's key Nikkei up more than 2% as Japan PM holds power

Tokyo's key Nikkei 225 index opened more than two percent higher on Monday as investors cheered general election results showing a victory for Prime Minister Fumio Kishida.

3 years ago

Business

Heading to the greener energy journey in Southeast Asia with cutting-edge technology

In Southeast Asia, one of the world’s fastest growing regions, the need for green energy has never been clearer than in recent years.

3 years ago

President Joko “Jokowi” Widodo’s recently expressed desire to end financial support for state-owned enterprises (SOEs) has raised concerns in the sector, as many such companies rely on government bailouts to escape dire financial straits.

Business premium

Profit at any cost?: Govt sends mixed signals on SOEs’ fates

President Jokowi said recently that he wanted to stop bailing out SOEs, but a few months earlier, the government had proposed Rp 72 trillion for such bailouts.

3 years ago

Business premium

Open Labs to spend $100M to acquire more local brands

The homegrown brand aggregator plans to acquire controlling stakes or full ownership of small enterprises, depending on the founders’ preferences.

3 years ago

The Pomalaa nickel smelter in Kolaka, Southeast Sulawesi, operated by state-owned metal miner PT Aneka Tambang (Antam), is pictured in this undated photograph.

Business premium

Vale Indonesia revenue up 20% in Q3 on high nickel price

PT Vale Indonesia saw its revenue rise 20 percent year on year (yoy) to $686.43 million as growing volumes and prices more than offset the nickel giant’s higher cost of revenue.

3 years ago

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