The news for some of Southeast Asia’s big stock exchanges has not been great lately. Since mid-September 2024, the Jakarta composite index has declined by around 18 percent. On March 18, it plummeted 5 percent in a single day, triggering an automatic suspension of trading on the exchange. And IndonesiaContinue Reading
Indonesia’s finance minister has been forced to deny rumors of her imminent resignation, after the country’s stock exchange yesterday fell to its lowest point in years. Speaking at what Reuters described as a “hurriedly called press conference” yesterday afternoon, Sri Mulyani Indrawati said that she remained in her post andContinue Reading
At the end of February, the Indonesian Attorney General’s Office arrested and announced charges against five executives who work at subsidiaries of the state-owned oil and gas giant Pertamina. A handful of executives from private firms were also charged. Investigators allege that between 2018 and 2023 the suspects conspired toContinue Reading
Indonesia and the U.S. tech giant Apple have agreed on terms to lift the country’s ban on the sale of the latest model of iPhone, which involves a previously announced $1 billion investment in manufacturing facilities in the country. According to a report published yesterday by Bloomberg, which quoted “peopleContinue Reading
Back in 2023, Indonesian agritech start-up eFishery raised $200 million in Series D funding, pushing the company into unicorn status with a valuation of around $1.4 billion. With big backers like Softbank and Temasek, eFishery was one of Indonesia’s big tech success stories. Co-founder and CEO Gibran Huzaifah, a veryContinue Reading
Apple is in talks with its suppliers about potentially manufacturing iPhones in Indonesia, which would mark a victory for the government in its attempts to force the tech giant to establish factories to manufacture its flagship handsets in the country. According to a report late yesterday by Nikkei Asia, AppleContinue Reading
Indonesia’s parliament has approved the creation of a new sovereign investment fund in order to manage some of the country’s most important state-owned enterprises and generate capital for Indonesian investments elsewhere. The new body, which will be called the Daya Anagata Nusantara Investment Management Agency, or Danantara, will assume controlContinue Reading
