Indonesia sees FDI worth $47 billion in 2023 – investment ministry
JAKARTA (Reuters) – Indonesia recorded a total of 744 trillion rupiah ($47.34 billion) of foreign direct investment last year, up 13.7% on an annual basis, the investment ministry said on Wednesday. However,…
Indonesia reviews plan to merge two state airlines – executive
JAKARTA (Reuters) – The Indonesian government is reviewing a plan to merge state-owned airlines Garuda Indonesia and Pelita Air, a unit of energy firm Pertamina, to ensure affordable airfares, an executive said…
Indonesia says Tesla plans to invest in battery material facility
JAKARTA (Reuters) – Indonesia said on Monday that U.S. electric carmaker Tesla plans to invest in the manufacturing of battery materials in the Southeast Asian country and will make an announcement in…
Miss Universe cuts ties with Indonesia organiser accused of sexual harassment
JAKARTA (Reuters) – The Miss Universe Organization said it was cutting ties with its Indonesian franchisee and cancelling this year’s Malaysia pageant after contestants accused local organisers of sexual harassment. The U.S.-based…
Indonesia gives automakers more time to qualify for EV credits in investment bid
By Stefanno Sulaiman TANGERANG, Indonesia (Reuters) – Indonesia said on Thursday it would give automakers two more years to qualify for electric vehicle incentives in Southeast Asia’s largest auto market, a move…
Indonesia says Mitsubishi Motors plans to invest $375 million in 2024
JAKARTA (Reuters) – Indonesia’s industry ministry said on Wednesday Japanese carmaker Mitsubishi Motors was planning to invest 5.7 trillion rupiah ($375.25 million) in 2024 to expand its production capacity in the country.…
In Muslim-majority Indonesia, Islamic preacher under fire over unorthodox views
JAKARTA (Reuters) – Indonesian police have brought blasphemy and hate speech charges against the head of a controversial Islamic boarding school, following public uproar over its teachings, including unorthodox treatment of women…
TikTok won’t launch cross-border e-commerce services in Indonesia amid concerns
By Stanley Widianto and Josh Ye JAKARTA/HONG KONG (Reuters) – TikTok said it has no plans to roll out a cross-border business in Indonesia as a government minister on Thursday expressed concerns…
Indonesia to make it less painful for exporters to keep earnings onshore -official
JAKARTA (Reuters) – Indonesia is developing a scheme for banks to provide a financing facility for exporters who keep their earnings onshore, after business groups complained that new rules made it harder…
Indonesia plans incentives for EV makers, sets up meeting with BYD, Tesla
JAKARTA (Reuters) – Indonesia is finalising a new set of incentives to attract investment from manufacturers of electric vehicles (EVs), a senior minister said on Tuesday, adding the government is still in…
Indonesia defence minister gains ground with young people for 2024 election
JAKARTA (Reuters) – Indonesian Defence Minister Prabowo Subianto retains an early lead ahead of the 2024 presidential election, with an opinion poll on Sunday showing support for the ex-special forces commander is…
Indonesia Q2 FDI growth slowest in 1-1/2 years
JAKARTA (Reuters) – Incoming foreign direct investment to Indonesia grew 14.2% on a yearly basis in rupiah terms in the April-June quarter, the investment ministry said, the slowest growth pace in one…
Bank Indonesia rates on hold for rest of year, cut in Q1 2024 – Reuters poll
By Veronica Dudei Maia Khongwir BENGALURU (Reuters) – Bank Indonesia (BI) will keep its key interest rate unchanged at 5.75% next week and leave it there for the rest of the year…
ByteDance launches new music streaming service in Brazil, Indonesia
SAO PAULO (Reuters) – Chinese company ByteDance, which owns short-video company TikTok, on Thursday said it will launch a new music streaming service in Brazil and Indonesia, as it tries to become…
Singapore Airlines, Garuda Indonesia plan JV to boost passenger capacity
(Reuters) – Singapore Airlines Ltd and Garuda Indonesia plan to enter into a joint venture (JV) to increase passenger capacity between the two countries, the flag carriers said on Monday, as post-COVID…
Indonesia, Malaysia to visit Brussels over concern about EU deforestation law
JAKARTA (Reuters) – The world’s two biggest palm oil producers Indonesia and Malaysia will send top officials to the European Union next week to voice concern over a new deforestation law they…
Marketmind: U.S. default risk clouds Korea, Indonesia rate decisions
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The central banks of South Korea and Indonesia announce interest rate decisions on Thursday, against…
Indonesia tax cut drives electric car sales for Hyundai, Wuling
By Bernadette Christina and Stefanno Sulaiman JAKARTA (Reuters) – Sales of electric cars in Indonesia jumped last month after the government launched tax incentives, auto executives said, in an early sign that…
Freeport Indonesia must divest additional 10% stake to govt – minister
By Fransiska Nangoy and Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s investment minister said on Wednesday that copper miner Freeport Indonesia must agree to sell an additional 10% stake to the government, as…
Indonesia economy likely grew 4.95% on year in Q1, contracted vs quarter: Reuters poll
By Sujith Pai BENGALURU (Reuters) – Indonesian annual economic growth likely slowed to its weakest in more than a year in January-March and shrank on a quarterly basis as lower commodity prices…
South Korea, Indonesia central banks agree to promote local currency transactions
SEOUL (Reuters) – The central banks of South Korea and Indonesia signed a memorandum of understanding on Tuesday to cooperate on promoting the use of their currencies for bilateral transactions, such as…
Indonesia posts $8.7 billion Q1 budget surplus, stronger rupiah seen cutting deficit outlook
JAKARTA (Reuters) – Indonesia posted a 128.5 trillion rupiah ($8.69 billion) budget surplus in the first quarter on strong tax collection and the recent strengthening of the rupiah currency could help further…
Bank Indonesia forecast to hold rates at 5.75% for rest of 2023
By Sujith Pai and Veronica Dudei Maia Khongwir BENGALURU (Reuters) – Bank Indonesia is expected to keep its key interest rate unchanged at 5.75% for a third consecutive meeting on April 18…
Indonesia lowers VAT on electric vehicles to 1%
JAKARTA (Reuters) – Indonesia has lowered its value-add tax on battery-based electric vehicle sales to 1% from 11% to encourage the adoption of EVs, a government ministry said on Monday, amid efforts…
Indonesia sets aside $455 million to subsidise electric motorcycle sales
JAKARTA (Reuters) – Indonesia will allocate 7 trillion rupiah ($455.88 million) in state funds to subsidise electric motorcycle sales through 2024, officials said on Monday, as it pushes mass adoption of EVs…
Singapore to work with Indonesia, ASEAN, UN to push Myanmar peace plan – PM
SINGAPORE (Reuters) – Singapore Prime Minister Lee Hsien Loong said on Thursday the city-state would work with Indonesia and other Southeast Asian countries, as well as partners like the United Nations, to…
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