Indonesia

A major project aims to turn Belawan into a major Southeast Asian transportation and maritime hub.
DealStreetAsia

Group backed by Indonesia wealth fund to invest in Belawan Port

Deal part of Sumatra infrastructure push to turn island into major maritime hub

26 August 2022
Grab said it will focus more on "high quality" customers to achieve its profitability goals. 
Technology

Grab aims to break even sooner for delivery despite softer demand

Nasdaq-listed superapp continues to taper incentives after Q2 loss narrows to $572m

26 August 2022
A man walks as the Indonesian flag is projected during a light show to celebrate the country's Independence Day. The first Merah Putih fund is looking to start investing in the nation soon.
DealStreetAsia

Indonesia's Merah Putih fund set for $300m first close in Q1 of 2023

Government-backed investment seen focusing on food, agriculture and finance

24 August 2022
The hike comes as the Indonesian economy has yet to fully recover from the effects of COVID-19. (Photo by Ken Kobayashi)
Economy

Indonesia raises policy rate to 3.75% as inflation speeds up

Central bank's first hike since 2018 follows tightening by U.S., ASEAN neighbors

23 August 2022
Amit Saberwal, the founder and CEO of Southeast Asian budget hotel chain RedDoorz, is looking to expand. (Photo courtesy of RedDoorz)
Interview

RedDoorz to add up to 2,000 hotels from Indonesia to Thailand

Singapore-based hotel chain sticks to focus on domestic travelers to reduce risk

23 August 2022
Singapore uses rooftop solar panels, but their generating capacity is limited.
Energy

Singapore opens taps on renewable-energy imports with Laos deal

Far-reaching strategy stretches to Australian desert, but carries risks

18 August 2022
Takeda is investing 130 million euros ($132 million) to build a plant in Germany that can make 50 million doses of its dengue vaccine a year. (Photo courtesy of the company)
Pharmaceuticals

Takeda to sell dengue vaccine abroad, starting with Indonesia

Japan's first global vaccine can be used for children younger than existing shots

17 August 2022
Indonesian President Joko Widodo, dressed in traditional attire from the Bangka Belitung Islands, gestures as he delivers his state of the nation address on Aug. 16.
Economy

Indonesia eyes 5.3% growth, cuts to fiscal deficit in 2023

Elections, capital move are priorities in next year's budget plans

16 August 2022
Jakarta Gov. Anies Baswedan speaks in an interview with Nikkei Asia in Tokyo on Aug. 12. (Photo by Kentaro Iwamoto)
Interview

Jakarta Gov. Baswedan 'positive' on Indonesia president candidacy

Potential key contender 'prepared to collaborate with all parties' in 2024 vote

16 August 2022
A worker operates heavy equipment to unload coal from a barge into a truck at a port in North Jakarta, Indonesia, on Jan. 13.
Commodities

Indonesian miner to take over Australian coking coal assets for $380m

Sinar Mas arm also announces $200m investment in Ant-backed mobile wallet

15 August 2022
Growing interest in investing among Indonesians has made them more vulnerable to online scams, experts say. (Source photos by Reuters and Takaki Kashiwabara)
Market Spotlight

Indonesia's rising appetite for online investment attracts scams

Growing middle class in ASEAN's biggest economy seen prone to being cheated

15 August 2022
Students carry a giant Indian national flag during a "Tiranga Yatra" rally as part of celebrations commemorating 75 years of Indian Independence, in Ahmedabad, India, on Aug. 8. 
Your Week in Asia

World War II anniversary, Najib's final appeal, Tencent results

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

14 August 2022
Japan Ground Self-Defense Force personnel receive water from Indonesian soldiers during the Garuda Shield exercises in Baturaja, Indonesia, on Aug. 3.
Indo-Pacific

Japan joins U.S.-Indonesian military drill for first time

Garuda Shield aims to build partnerships, deter Chinese aggression

14 August 2022
Indonesia's Defense Minister Prabowo Subianto gestures while attending the leaders national meeting of the Gerindra Party in Bogor, Indonesia on Aug. 12.
Politics

Indonesia defense minister Prabowo nominated as presidential candidate

Ex-special forces general throws in hat to succeed Jokowi in 2024

14 August 2022
Indonesia's Venturra Capital went through several organizational changes between 2018 and 2020 due to the exit of many senior executives. (Source photos by Reuters and screenshot from Venturra's website) 
DealStreetAsia

Indonesia venture firm Venturra Capital plans 3rd fund next year

New fund set to invest in domestic market and beyond

12 August 2022
Super app provider Grab celebrated its 10th anniversary on Aug. 11 with the opening of a new headquarters in Singapore. (Photo by Tsubasa Suruga)
Technology

Singapore's Grab vows 'inclusive growth' for ASEAN's gig economy

Superapp to upskill small merchants, provide scholarships for students

11 August 2022
Japanese and South Korean carmakers such as Nissan, left, and Hyundai, right, are squaring off for a slice of the Indonesian electric vehicle market as the country aims to slash carbon emissions. (Source photos by Getty Images and EPA/Jiji) 
Automobiles

Japanese, South Korean makers compete for Indonesia's EV market

Toyota and Hyundai Motor jockey for advantage at international auto show

11 August 2022
Indonesia's Bank Mandiri is targeting a sizable stake in Surabaya-based lender Bank Prima Master, according to sources. (Photo by Shinya Sawai)
DealStreetAsia

Indonesia's Bank Mandiri in talks to buy stake in Bank Prima Master

Financial regulator has been encouraging consolidation in banking sector

10 August 2022
Komodo dragons, the world's largest lizards, are now classified as an endangered species.
Travel & Leisure

Indonesia postpones Komodo dragon park's $250 fee until 2023

Foreign visitors faced 25-fold admission hike, sparking tourism industry pushback

10 August 2022
The M/V Riva Wind is shown departing from a Ukrainian port near Odesa carrying 50,000 tons of grain on Aug. 7. (Photo courtesy of Harvest Commodities)
Agriculture

Indonesia's Arsari ships grain from Ukraine, Russia

Cooperation with U.S.-Swiss company among first since U.N. deal

9 August 2022
Park Hyatt Jakarta opened in central Jakarta near the Indonesian president's official residence on July 8. (Photo by Koya Jibiki)
Travel & Leisure

Jakarta, Bangkok see luxury hotel boom as tourism rebounds

Southeast Asian megacities host conferences to draw business travelers

9 August 2022
The KF-21 carries more advanced technology than the fourth-generation fighter jets commonly used worldwide. (Photo courtesy of South Korea's Ministry of National Defense)
International relations

South Korea targets 2026 production of homegrown fighter jet

Seoul develops KF-21 with Indonesia, eyes sales to emerging markets

9 August 2022
Fitch Ratings said in a report last month that Singapore banks are poised to benefit from the rise in global interest rates as economic recovery continues across the lenders' key markets.
Finance

DBS, other ASEAN banks ride U.S. rate hikes to stronger earnings

Southeast Asia's largest banks expect higher returns from lending

5 August 2022
Higher commodity prices helped Indonesia's economy to expand in the quarter from April to June.
Economy

Indonesia's economy expands as exports, consumption spur growth

Southeast Asian country's GDP rose 5.44% in 2nd quarter, accelerating from 1st

5 August 2022
SwipeRx CEO Farouk Meralli sees huge promise in Indonesia. (Photo by Nana Shibata)
Health Care

SwipeRx aims to double Indonesian pharmacy sign-ups

Singapore-based startup's CEO expects first profit in 2023

5 August 2022