Business and Investment
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Grab stocks plummets amidst massive layoff
Grab, the Singapore-based decacorn, has made the difficult decision to initiate another round of layoffs, affecting over 1,000 employees and resulting in plummeting stocks.
Key future export for Indonesia shifted toward manufacturing industry
Experts predict a significant shift in Indonesia's national export map by 2035, as the contribution from resource-based commodities is expected to decline alongside the conclusion of the demographic bonus.
ST Telemedia and Temasek launched first data center in West Java
PT ST Telemedia Global Data Centres Indonesia (PT STT GDC Indonesia) has launched its first data center, STT Jakarta 1, in Bekasi, West Java.
Pupuk Kaltim invests US$ 4 billion, builds green ammonia production facility
PT Pupuk Kaltim is planning to construct a green ammonia production facility with an investment value of US$ 4 billion (IDR 60.2 trillion) and a production capacity of 1 million tons per year.
Carbon trading open for indigenous and social forest
The Indonesian government is currently providing the opportunity for indigenous forest administrator and forests under the Social Forestry management scheme to take part in carbon trading under certain requirements.
Pertamina Hulu Energi seeks JETP funding to accelerate CCUS implementation in upstream oil and gas sector
Pertamina, through its subsidiary Pertamina Hulu Energi (PHE), is seeking to obtain funding from the Just Energy Transition Partnership (JETP) to accelerate the implementation of carbon capture utilization and storage (CCUS) technology for the upstream oil and gas sector.
SKK Migas approve project in Rokan work area, expects to boost production and revenue
The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has granted approval for the Sumatra Light Oil Phase-4 Project in the Rokan Working Area (WK), which will involve an investment of approximately IDR 12.5 trillion, and the use of Enhanced Oil Recovery (EOR) system.
No room for sea sand mining: West Sumatra Government commits to coastal protection
The West Sumatra Provincial Government has reaffirmed its commitment to preserving the protected status of all coastal areas by firmly stating that it will not authorize any licenses for sea sand mining within the region.
UAE’s Masdar explores renewable energy project in IKN
Abu Dhabi-based clean energy company Masdar is currently exploring a renewable energy project in Nusantara capital city (IKN). The company has made it clear by sending a team to IKN.
Government faces growing challenge of illegal imports as HIPMI urges action
The Ministry of Trade had reported a growing prevalence of illegal imports. In 2022, the estimated value of illegal imports reached IDR 214.7 billion, a significant increase compared to IDR 9.6 billion in 2021, IDR 7.4 billion in 2020, and IDR 29 billion in 2019.
Businesses denied government claim on bauxite smelter construction being neglected
Bauxite producers asserted that smelter construction projects are ongoing and rejected the government's accusation saying that smelter projects have been neglected because of the recent export ban.
Celios research reveals: Indonesia’s disadvantage in nickel downstreaming
According to Director of the China-Indonesia Center of Economic and Law Studies (Celios) Zulfikar Rahmat, the economic benefits of nickel downstreaming policies are considered to be outweighed by the potential losses for Indonesia. This is primarily attributed to the decline in customs and tax revenues resulting from various relaxations.