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Business

  • PLN-PGE geothermal dispute ends with new price deals

    Geothermal industry players have welcomed recent agreements on new electricity purchase deals involving electricity firm PLN and geothermal firm Pertamina Geothermal Energy (PGE) that will end an impasse in steam price negotiations between the two state-owned companies.

  • ADB to lend another $10 billion to Indonesia

    The Asian Development Bank (ADB) will boost lending to Indonesia to about US$10 billion within the next five years to finance the country’s infrastructure projects.

  • Govt raises micro loan allocation

    The government has decided to increase the target for its subsidized micro loan program from the initial allocation set earlier this year despite failing to meet its target last year.

  • Asahimas Chemical to triple exports this year

    PT Asahimas Chemical, a subsidiary of the Japan-based Asahi Glass Company (AGC), expects to more than triple its industrial chemical exports following the opening of a new factory in its industrial complex in Cilegon, Banten.

  • Infrastructure firms expand, book aggressive profit

    Infrastructure companies recorded growth in assets value and profits last year thanks partly to the government’s mammoth budget allocation in the sector.

  • E-commerce industry demands greater security

    E-commerce players throughout the country are backing the government’s initiative to develop a single national payment gateway (NPG), as part of its planned e-commerce roadmap, but have simultaneously expressed an expectation for far superior security measures.

  • Moody’s sees stable growth ahead, headwinds remain

    Indonesia is predicted to see stable growth in the near future after taking several measures, but the economy remains susceptible to external headwinds, according to a report by rating agency Moody’s.

  • Adira Finance eyes higher growth after 2015 slump

    After struggling with the impact of a sluggish economy in 2015, major automotive financing firm Adira Finance expects business to recover following a slump last year caused by weak demand in the national automotive market.

  • Minnow MARI to compete against media heavyweights

    Radio broadcasting company PT Mahaka Radio Integra might have enjoyed a smooth ride on its first day listed on the Indonesian Stock Exchange (IDX) on Thursday, but its celebrations could be short-lived amid likely tighter competition with existing visual-media giants on the bourse.

  • Newmont goes on with divestment amid uncertainty

    Copper mining company PT Newmont Nusa Tenggara will continue offering shares to the government to comply with a mandatory divestment rule, though there is no clear indication whether the offer will be accepted.

  • Economy in brief: Pelni to buy cruise ship

    PT Pelni plans to buy one cruise ship this year as part of its participation in the government’s marine tourism campaign.

  • Economy in brief: Tutor-search start-up to launch mobile app

    Education start-up Ruangguru.com is to launch a beta version of its mobile app and a revamped website in the coming weeks ahead as a way to step up its operations within the education sector.

  • Economy in brief: INKA gets loan to export railway cars

    The Indonesian Export Financing Agency (LPEI), also known as Indonesia Eximbank, has signed a loan agreement with state-owned train manufacturer Industri Kereta Api (INKA) to export railway cars to Bangladesh. The state-run financing firm was appointed by the government to provide working capital loans worth Rp 270 billion (US$20.1 million) to INKA, which will use the funds to finance the shipment of railway cars to the South Asian country.

  • Economy in brief: Govt to allocate Rp 2.1 trillion to NTB

    The Public Works and Public Housing Ministry will allocate Rp 2.1 trillion (US$156 million) from the 2016 state budget to aid the development of West Nusa Tenggara (NTB).

  • Indonesia to promote specialty coffee in US to boost exports

    The government is seeking to promote Indonesian coffee and boost coffee exports, particularly to the US, by confirming its participation at an exhibition in Atlanta, Georgia, in April.

  • XL sacrifices 2G network to accommodate increasing 4G

    Telecommunications company PT XL Axiata is gradually shifting its 2G network from the faster 1,800 MHz spectrum to its lower frequency 900 MHz spectrum in order to make more room to accommodate its 4G/LTE network.

  • Fate of spending overhaul rests with ministers

    President Joko “Jokowi” Widodo’s plan to overhaul the government’s spending system will depend on his ministers and whether or not they have a clear and strong will to direct their subordinates to follow through with the changes.

  • Govt pushes for renewable energy despite cheaper oil

    The government has stepped up its efforts to reach the 23 percent targeted renewable energy utilization over the next nine years, by boosting regional partnership, research and clean energy investment despite cheaper fossil-based fuels.

  • Pertamina seeks loan for refinery face-lift project

    State-owned oil and gas giant Pertamina is seeking external funding to upgrade its refineries following the withdrawal of its Japanese partner from the project.

  • Banks expect higher earnings from international business

    Large domestic banks with overseas networks expect that their earnings from international trade financing will continue to grow this year despite the global economic slowdown.