Fire at Pertamina oil pipeline in E. Kalimantan

A fire broke out on an oil pipeline at state-owned oil and gas company Pertamina’s Refinery Unit (RU) V in Balikpapan, East Kalimantan, reportedly...

Palm oil export levies suspended to help producers cope with low prices

The government has decided to suspend an export tax imposed on crude palm oil (CPO) and its derivative products until next year to ease...

Government to launch insurance holding company this month following Jiwasraya case

The State-Owned Enterprises (SOEs) Ministry is set to establish an insurance holding company in February to help transform the country’s state-owned insurance firms following a...

$137b worth of investments in pipeline for infrastructure projects: Luhut

The Office of the Coordinating Maritime Affairs and Investment Minister estimates that US$137 billion worth of investment are in the pipeline for infrastructure projects...

LinkAja to become Indonesia’s largest digital payment service: Finarya

PT Fintek Karya Nusantara (Finarya), a company established by a number of state-owned enterprises (SOEs), finally launched on Sunday its LinkAja platform, aimed at...

Airlines start to recover with more growth in China, Hong Kong

Airlines added more seats back to their flight schedules this week, led by China and even increases in Hong Kong, suggesting the industry is...

Indonesia gets global companies to invest at WEF’s annual gathering

Indonesia has continued its venture to lure global corporations into investing in the country during the annual World Economic Forum (WEF) meeting in Davos,...

Saudi Arabia charges foreigners $213,000 for permanent residency

Saudi Arabia has opened applications for a permanent residency program designed to attract foreign investment to the kingdom, but it will cost a hefty...

Dollar hits two-week peak as ‘second wave’ virus fears drive safe-haven bid

The dollar rose to a two-week high against major peers on Tuesday, propelled by rising United States bond yields and increasing safe-haven demand amid...

House sets up working committee to oversee ‘worrying’ financial services

The House of Representatives’ Commission XI, which oversees financial affairs, has announced the establishment of a working committee to monitor the financial services industry...

Soon-to-be skyscrapers in Habibie’s Meisterstadt megablock feared to disrupt air traffic

The ongoing construction of residential towers in the integrated megablock Meisterstadt – also known as Pollux Habibie – in Batam, Riau Islands, has hit...

Authorities seize smuggled supercars, luxury motorcycles worth Rp 21b

The Finance Ministry revealed on Tuesday a number of attempts to smuggle dozens of luxury cars and motorcycles worth at least Rp 21 billion...

Trump’s trade tweets hammer China’s stocks and currency

Chinese stocks tumbled along with the yuan as a pair of tweets by President Donald Trump undermined confidence in a trade agreement. The ChiNext Index...

Merill Lynch, Deutsche quit Indonesia’s stock market, Namura may follow

Foreign affiliated securities companies  PT Merrill Lynch Sekuritas Indonesia and PT Deutsche Sekuritas will withdraw from the Indonesia Stock Exchange (IDX) following their decision...

BI requires banks to buy govt bonds using $6.5b in excess liquidity

Bank Indonesia (BI) is requiring banks to buy government bonds after cutting banks’ reserve ratio further, providing the financial system with Rp 102 trillion...

CEO of Indonesia’s most profitable state bank rejects new post

The president director of the country's most profitable state lender Bank Rakyat Indonesia (BRI), Suprajarto, immediately submitted his resignation after the State-Owned Enterprises (SOE)...

Jet fuel consumption drops as airlines reduce, halt operations due to COVID-19

Jet fuel consumption in Indonesia has slumped as a result of nosediving air travel because of the COVID-19 pandemic. Data from state-owned oil company Pertamina show that...

Things you need to know about government’s sovereign wealth fund

Indonesia is planning to establish a sovereign wealth fund to fund the country’s development projects following investment interest expressed by the United Arab Emirates...

UK airline Flybe collapses as virus hits flights worldwide

One of Britain's biggest airlines, Flybe, collapsed Thursday with passengers left stranded as the coronavirus epidemic takes a heavy toll on air travel around...

Stuck in Bali traffic? Airport to get LRT access to reduce congestion

I Gusti Ngurah Rai International Airport in Bali will soon get a facelift through the development of a South Korea-backed light rail transit (LRT)...

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