Indonesia

Japan's Emperor Naruhito, left, shakes hands with Indonesian President Joko Widodo following a news conference in Bogor, Indonesia, on June 19. 
International relations

Jokowi 'very honored' to host Japan emperor's first trip

Indonesian president takes imperial couple on botanical garden tour

19 June 2023
Leaders of ASEAN member states pose for a photo at the 42nd ASEAN Summit in Labuan Bajo, Indonesia on May 11. (Pool photo via Reuters)
South China Sea

ASEAN seeks to demonstrate 'unity' in South China Sea drills

Bloc plans first joint exercise in September as regional challenges mount

18 June 2023
Japanese Emperor Naruhito and Empress Masako take a look back at Haneda airport in Tokyo before boarding a flight to Indonesia on June 17. (Photo by Mayumi Tsumita)
International relations

Japanese emperor's Indonesia trip reaffirms 'strong' ties

Interactions with young people on the agenda of weeklong stay

17 June 2023
The Menzel Lejmat Nord oil field in Algeria has a production capacity of 35,000 barrels of crude per day. (Photo courtesy of Pertamina)
Commodities

Pertamina and partners to invest $800m in Algerian oil field

Indonesian state-owned company extends contract with Sonatrach, Repsol

16 June 2023
Emperor Naruhito holds a news conference ahead of a trip to Indonesia. (Pool photo)
International relations

Indonesia marks first stop on Japan emperor's goodwill diplomacy

Couple embarks on second overseas trip after pandemic disruption

16 June 2023
Indonesia's massive supplies of nickel -- a key component in batteries -- are helping meet increasing global demand for electric vehicles. (Source photo by Reuters) 
Market Spotlight

Nickel surplus seen widening in 2023 as Indonesian output soars

EV batteries to lead demand growth; prices under pressure but still historically high

16 June 2023
A Qatari Mirage 2000-5 fighter in 2011: Indonesia has struck a deal to purchase 12 of the jets.
Defense

Indonesia buys 12 Mirage fighter jets used by Qatar for $792m

Jakarta cites urgent need while waiting for Rafale, F-15 deliveries

15 June 2023
Some analysts praise incoming GoTo CEO Patrick Walujo's leadership potential, saying he should be able to maintain a balance between its predecessor companies. (Source photos courtesy of GoTo) 
Technology

GoTo stresses profit in CEO choice as rivals' prospects brighten

Experts expect Patrick Walujo to utilize experience in investment, banking

15 June 2023
Lazada’s estimated gross merchandise value fell from $21 billion in 2021 to to $20.1 billion last year, according to a report by the consultancy Momentum Works.
Retail

TikTok rises, Alibaba's Lazada falters in ASEAN e-commerce

ByteDance-owned platform grows in Southeast Asia but still lags behind rivals

15 June 2023
The Japanese security giant has been expanding operations in Southeast Asia in recent years. (Photo courtesy of Alsok)
Business deals

Japan's Alsok buys Indonesia staffing agency in Southeast Asia push

Shield-On Service acquisition aims to boost temp and security operations

13 June 2023
Bank of Japan Gov. Kazuo Ueda attends a group interview with media in Tokyo on May 25. The BOJ is expected to maintain its ultra-easy monetary policy for now, but all eyes are on his remarks at the press conference on Friday.
Your Week in Asia

Toyota AGM, China economic data, BOJ policy meeting

Your weekly lineup of Asia's biggest business and political events

11 June 2023
Indonesian Heavy equipment and mining company United Tractors says a minority stake purchase in Australia's Nickel Industries, a major global producer of nickel pig iron, is part of its diversification. (Screenshot from United Tractors and Nickel Industries websites)
Commodities

Indonesia's United Tractors to buy $633m stake in Australian miner

Top conglomerate Astra International seeks entry into EV battery materials

9 June 2023
Japan's Emperor Naruhito and Empress Masako are set to visit Indonesia.
International relations

Japan's Emperor Naruhito, Empress Masako to visit Indonesia

Trip will be emperor's first since accession, apart from Queen Elizabeth's funeral

9 June 2023
Former Goldman Sachs employee Patrick Walujo has been nominated by Indonesian superapp GoTo Group to be its new CEO. (Photos courtesy of GoTo) 
Technology

GoTo nominates Patrick Walujo as new CEO amid profit push

Ex-Goldman Sachs employee to replace Andre Soelistyo, who becomes deputy chair

8 June 2023
Indonesian President Joko Widodo greets Malaysia's Prime Minister Anwar Ibrahim in Putrajaya, Malaysia on June 8. (Photo courtesy of Malaysia Prime Minister's Office)
International relations

Malaysia, Indonesia to fight EU palm oil 'discrimination'

Jokowi says collaboration should be 'strengthened' to protect commodities

8 June 2023
Indonesian President Joko Widodo speaks at a conference in Singapore on June 7, touting investment opportunities in the country's capital relocation project. (Photo by Tsubasa Suruga)
Politics

Jokowi stresses Nusantara continuity under next president

Indonesian leader calls for funding new capital as investors voice concerns

7 June 2023
Indonesians and Malaysians are being brought closer together by an ASEAN initiative that makes cross-border payments easier and cheaper. (Source photos by Getty Images and logo from ASEAN BAC INDONESIA's website)
Finance

Indonesia-Malaysia QR code payments get started under ASEAN system

Cross border scheme could cut transaction costs by 30%, offer exchange rate buffer

6 June 2023
Cinema XXI is Indonesia's largest theater chain. (Source photo by Getty Images and logo from Cinema XXI's website)
DealStreetAsia

Indonesian movie chain Cinema XXI operator eyes up to $300m in IPO

Company seeks to complete initial public offering by early next year, sources say

5 June 2023
Venture capital companies are facing a tougher fundraising environment, as U.S.-based investors have grown wary following the banking crisis that started in March. (Source photo by Reuters)
Market Spotlight

ASEAN's VC 'funding winter' worsens on Grab, GoTo slowdown

Wary venture capital investors slash valuations of startups as interest rates rise

5 June 2023
Cleosent Randing, founder and CEO of digital insurer PasarPolis, has ambitions both at home and abroad. (Source photo by Nana Shibata and Getty Images)
Startups

Indonesian digital insurer PasarPolis eyes Malaysia, Philippines

Tech company also pins hopes on vast home market demand, despite low penetration

31 May 2023
Mitra Bukalapak is helping owners of Indonesian warung kiosks to digitalize operations with the aim of making it easier for them to do business and access financial services. (Source photos by Nana Shibata)
Startups

Indonesia's Bukalapak sees itself as 'financial inclusion champion'

E-commerce giant further targets underbanked population through Mitra business

30 May 2023
Nickel-rich Indonesia has big ambitions to become a global EV production hub. (Source photo by Getty Images, logos from Indika Energy and Alva's websites)
DealStreetAsia

Indonesia's Indika, others to put $16m into IMG's EV business

Total 2023 development outlay on Alva two-wheeler pegged at $17.8m

29 May 2023
Manuel Pangilinan, chairman and president of Metro Pacific Investments Corp., plans to delist the group after a tender offer closes in June. (Photo by Lester Babiera)
Business deals

Philippine infrastructure king decides to go private

Metro Pacific's Pangilinan seeks freedom to pursue new businesses

29 May 2023
Foreigner nationals, especially from China, have shown unwavering interest in Singapore's residential property market. (Source photo by Reuters) 
Market Spotlight

Singapore property market heats up, squeezing expat renters

Chinese investors may shrug off higher stamp duty imposed on foreign buyers

29 May 2023
Workers assemble a new BMW X3 vehicle for local distribution at a Gaya Motor assembly plant, part of Astra International, in Jakarta, in July 2018.
Automobiles

Indonesia challenges Thailand's title as the 'Detroit of Asia'

Rich mineral resources for batteries give archipelago leg up in EV shift

28 May 2023