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Investment Minister Bahlil Lahadalia presents the latest figures on realized investment at a press conference on Oct. 27, 2021.

Regulations premium

Question raised over plan to ban clean power exports

Investment Minister Bahlil Lahadalia says exporting electricity generated from renewable sources could hamper the development of domestic industries, but other government officials say a ban may raise eyebrows among foreign investors.

3 years ago

Tech

Strong university academics, practical skills ensure future graduates’ readiness

Technology trends are developing so rapidly that traditional methods of education can no longer keep up. Industries want graduates with not only strong academic ...

3 years ago

Regulations premium

Power prices for large houses set to rise on July 1

The government plans to hike electricity prices for consumers in the 3,500-volt-ampere category and above, in line with an earlier decision to reduce pressure on the state budget amid surging commodity prices. ...

3 years ago

The Latest

Juan Madera, financial services sector ASEAN leader at IBM Consulting, talked to The Jakarta Post on June 2 about the future of digital banking in the region.

Executive Column premium

Executive Column: Digital banks urged to specialize

After rapid growth in recent years, the digital-banking business is facing challenges in sustaining its business model through difficult times. Juan Madera, financial services sector (FSS) ASEAN leader at IBM Consulting, spoke with The Jakarta Post’s Vincent Fabian Thomas about the future of digital banks in the region.

3 years ago

A general view shows the financial business district in Singapore on Jan. 3, 2022.

Markets

Bonds slide, yen dumped as interest rate hikes loom

Asia's stock markets edged lower on Tuesday, the yen hit a 20-year low and bond markets wavered as investors nervously awaited US inflation figures and central bank meetings in Australia, Europe and, next week, in the United States.

3 years ago

State-owned airport operator PT Angkasa Pura II stages the Nusantara Cultural Parade at Soekarno-Hatta International Airport in Tangerang, Banten, in this undated photograph.

Economy premium

Indonesia's tourism jumps in April as borders reopen

The number of foreign arrivals more than doubled in April, but that does not mean the sector is out of the woods as risks still exist.

3 years ago

Palm oil farmers protest on May 17, 2022 outside the Office of the Coordinating Economic Affairs Minister in Jakarta to demand an end to the government ban on palm oil exports. The export ban went into force on April 28 and was lifted on May 23.

Regulations premium

Govt approves 1 million tons of CPO for export

An association representing smallholder farmers said it had not seen a significant rise in FFB prices since the ban was lifted on May 23.

3 years ago

Tech

BRI and Tokopedia join forces to increase digital access in Indonesia

PT Bank Rakyat Indonesia (BRI), in collaboration with Tokopedia (part of GoTo Group), has launched Tokopedia Card, a new credit-card catering to payments for marketplace purchases.

3 years ago

This aerial photo shows a view of residential and commercial tower blocks on the eastern side of Hong Kong island on April 3, 2022.

Markets

Asia shares edge up with US futures, oil gains

Asian shares steadied on Monday as US stock futures made cautious gains ahead of US inflation data later in the week, while the euro touched a seven-year top on the yen amid wagers of European Central Bank tightening.

3 years ago

Illustration photo of Japanese Yen and US Dollar notes

Markets

Yen weak versus dollar, euro ahead of busy central bank week

The Japanese yen was on the back foot on Monday, ahead of a busy policy-focused week in which inflation will be in the spotlight with a major European Central Bank meeting and US consumer price data scheduled.

3 years ago

Deputy Finance Minister Suahasil Nazara meets with representatives from "The Jakarta Post" in Jakarta on June 2.

Economy premium

Finance Ministry expects to see 5% GDP growth in Q2

Deputy Finance Minister Suahasil Nazara said strong spending and exports would prop up economic growth.

3 years ago

Bank-owned skyscrapers are pictured in Jakarta on Aug. 27, 2021.

Tech premium

Fintech is coming for banks, one service at a time

“Every single aspect will be taken over by fintech,” CEO of crypto asset service provider warns conventional lenders, adding that tech firms could provide more granular banking products.

3 years ago

Chinese Foreign Minister Wang Yi talks to Papua New Guinea's Prime Minister James Marape (left) after their meeting in Port Moresby on June 3, 2022, on the last day of his two official visit to Papua New Guinea.

Regulations

China, Papua New Guinea discuss free-trade deal

China and Papua New Guinea held talks on a free-trade deal Friday, as Beijing's foreign minister wrapped up a landmark tour of the Pacific Islands with a stop in the resource-rich nation.

3 years ago

Participants gather in the lobby ahead of an informal meeting between members of the Organization of Petroleum Exporting Countries, OPEC, in the Algerian capital Algiers, on Sept. 28, 2016.

Economy

OPEC+ agrees bigger output boost amid Russian isolation

Pressure has been rising for the 23-strong group to boost output further to try to stabilize prices, which have hit record highs since Russia invaded Ukraine, drawing heavy Western sanctions.

3 years ago

Workers sort chicken eggs at an egg farm in Cibeber, Cianjur, West Java, in this undated photograph. The farm produces 1 ton of eggs per day from 20 thousand chickens.

Economy premium

Inflation rises to nearly five-year high

Statistic Indonesia’s (BPS) consumer price index was up 3.55 percent in May, marking the fastest annual rise since December 2017.

3 years ago

An aerial survey mission by Greenpeace in Central Kalimantan shows a general view of trees in a forest on Feb. 24, 2014.

Companies premium

SAP, IBM urge Asia-Pacific banks to engage in more sustainable financing

Many technology firms see market potential in the sustainable finance industry as banks would need more data-processing capacities to track ESG data.

3 years ago

An aerial view shows the Nanpu Bridge over the Huangpu River in the direction of Pudong district in Shanghai, China, on March 30, 2022.

Regulations

Beijing sets up $120b credit line to drive infrastructure

China has launched a US$120 billion credit line for infrastructure projects, state media reported, as Beijing tries to jump-start its ailing economy, which has been pounded by the country's zero-COVID measures.

3 years ago

A police officer in a protective suit checks on a commuter at a subway station on June 2, 2022, after the lockdown placed to curb the coronavirus disease outbreak was lifted in Shanghai, China.

Markets

Asian shares fall on inflation, recession concerns; oil skids

Asian share markets fell on Thursday on widespread investor worries over high inflation and the threat of recession, while oil prices slumped following a report of reassurances from Saudi Arabia over production.

3 years ago

Members of the Indonesian Palm Oil Farmers' Association (Apkasindo) rally outside the Office of the Coordinating Economic Minister in Central Jakarta on May 17. They said they were not reaping the benefits of the skyrocketing price of palm oil.

Markets premium

Sustainable palm oil: Market leakage remains a challenge

Palm oil producers are finding sufficient buyers in Indonesia and abroad for whom sustainability is a minor consideration, which is limiting pressure on the sector to adopt environmental practices.

3 years ago

A group of Gojek drivers use Electrum electric motorcycles, one of the company’s many efforts to achieve its sustainability goals.

Tech premium

GoTo's Q1 net loss nearly triples from 'business integration'

Publicly listed GoTo booked an increase in quarterly net loss to Rp 6.47 trillion (US$443 million).

3 years ago

Long reach: A customer service officer speaks to a customer via video call on June 25, 2020 in line with COVID-19 rules at BP Jamsostek Salemba in Jakarta.

Markets premium

Indonesians cut back on insurance but industry remains upbeat over growth potential

Improved insurance literacy among consumers is one way to capitalize on potential growth in Indonesia's insurance industry, which still lags behind its Southeast Asian peers.

3 years ago

A GSK employee is at work at the factory of British pharmaceutical company GlaxoSmithKline (GSK) in Wavre on Feb. 8, 2021.

Companies

Drugmaker GSK buys US vaccine firm for up to $3.3 billion

The London-listed company has agreed to pay $2.1 billion upfront and up to $1.2 billion in potential development milestones for Affinivax.

3 years ago

The Indonesian Navy Fleet Commander Vice Adm. Agung Prasetiawan (left) inspects a container filled with cooking oil at the port of Belawan in Medan, North Sumatra, which was planned to be shipped to Malaysia, on May 6, 2022.

Regulations

Indonesia to scrap subsidy for bulk cooking oil

The subsidy was introduced in January to compensate cooking oil producers for selling below market prices.

3 years ago

The European Central Bank (ECB) headquarters are seen during sunset in Frankfurt, Germany, on Jan. 5, 2022.

Markets

Stocks dip, bonds drop as German surprise renews inflation fears

Stocks wobbled and bonds fell in Asia, while the dollar rose on Tuesday after a hot inflation reading in Germany heightened nerves about the pace and scale of looming interest rate hikes.

3 years ago

The power of water: State-owned PT Indonesia Power uses the Saguling dam in West Bandung regency of West Java to operate a hydropower plant that contributes 2.5 percent to the Java-Bali power grid.

Regulations premium

Indonesia looks to ASEAN to offload excess electricity

At the recent ASEAN Economic Ministers’ (AEM) Special Meeting, the government has pushed for progress on a long-time initiative to create an integrated regional power grid.

3 years ago