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ADB projects Indonesia’s economy to grow 2.5% in 2020

Indonesia’s economy is expected to grow by only 2.5 percent this year, from a four-year low of 5.02 percent in 2019, according to a new Asian Development Bank (ADB) report. The situation, caused largely by the COVID-19 outbreak, is expected to gradually improve in 2021. ADB’s flagship annual economic publication titled “Asian Development Outlook 2020” …

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Energy watchdogs call for less coal, more renewables in PLN long-term power plan

Energy watchdogs have called on state-owned electricity company PLN to slash coal consumption and boost renewables usage in the company’s upcoming 2020-2029 electricity procurement plan (RUPTL). The experts urged Indonesia’s top electricity company to further cut back on coal-fired power plants, particularly those whose construction has been stalled due to COVID-19 pandemic. They urged PLN …

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Indonesia, Japan commit to “cooperation” against COVID-19

Indonesia and Japan have committed to closer cooperation to address the spread of COVID-19 while calling for strong collaboration within the international community to fight the pandemic. The commitment was made on Monday during a phone call between Indonesian Foreign Minister Retno L.P. Marsudi and Japanese Foreign Minister Toshimitsu Motegi. Retno reportedly used the occasion to also convey Indonesia’s appreciation for Japan’s …

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We’re all in this together: Companies join hands to mitigate COVID-19 pandemic

Multinational and major local companies are rolling up their sleeves to not only keep businesses going but also help the government limit the spread of the COVID-19 pandemic and its harsh impact on economic activities in the country. Assistance comes not only from the largest technology companies but also local publicly-listed companies and state-owned enterprises. …

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BREAKING: Jakarta declares COVID-19 emergency, urges offices to suspend operation for 14 days

Jakarta Governor Anies Baswedan has declared a state of emergency for the next two weeks in the capital city in an effort to contain the COVID-19 pandemic.  “After a meeting with the Jakarta Police chief, the Jakarta Military Command and the national COVID-19 task force, we declare today an emergency status for the next 14 …

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Bank Indonesia makes push to bring street vendors to world of cashless payments

Bank Indonesia (BI) is holding a National QRIS Week event across Indonesia to promote cashless transactions among small businesses using its Quick Response Indonesia Standard (QRIS) code system. During the one-week event, which ends March 15, the central bank will disseminate information on the technical details of the QRIS system and the registration process for …

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Ride-hailing rivals Gojek, Grab in merger talks: Report

Ride-hailing giants, Gojek and Grab, are in talks about a possible merger, a report said, citing sources. The report, as quoted by Tech in Asia, also stated that the start-ups were still discussing their respective valuations and post-merger shareholdings. Singapore-based Grab has told some of its investors that Gojek expects a 50-50 share while Grab …

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Corporate Innovation in Asia: Deep Insights & Guide to the Right Approach

TBCI partnered with RISE, our awesome event “Corporate Innovation in Asia: Deep Insights & Guide to the Right Approach” – Uncover the current state of Corporate Innovation Landscape in Asia. See who is leading the advancement, discover different approaches to drive innovation and understand the ones that suit your business. – Dive deep into the …

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Thai SELECT

Thai cuisine awarded by Ministry of Commerce Thailand. Thai Select Restaurant in Jakarta and Bali. Source: Thai Trade Center

‘Largest deal in Indonesia’s history’: UAE pledges to invest in deal worth $22.8b

The United Arab Emirates (UAE) will invest in a third of US$22.8 billion worth of development projects in Indonesia as Southeast Asia’s largest economy looks to the world’s wealthiest countries to fund infrastructure and human capital development projects. The investment plan was announced during President Joko “Jokowi” Widodo’s official two-day trip to Abu Dhabi that …

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