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Arinal Djunaidi faces criticism for slow infrastructure development for the Lampung New City project
The Kota Baru (New City) project in Lampung complicates matter for Arinal Djunaidi, the current Governor of Lampung. The postponed projects resulted in a lot of criticism against the Djunaidi, accompanied by several problems related to infrastructure.
Bank Indonesia reports an increase in digital banking transactions of about 9.88%
Bank Indonesia (BI) revealed that there was a 9.88% increase in digital banking transactions for the March 2023 period compared to the same period last year (YoY) to IDR 4,944.1 trillion.
Elon Musk to launch TruthGPT to rival Google, Microsoft, and OpenAI
Tesla CEO Elon Musk said on Monday (17/4) that he will launch a new AI platform “TruthGPT” to take on Google, Microsoft, and OpenAI. Musk's goal is to challenge currently existing AI processes, which he claims are not focused on maximum-truth seeking.
Bukalapak penalized with IDR107 billion fine for property project case
Indonesian e-commerce platform Bukalapak, was charged with IDR107.4 billion fine by the South Jakarta District Court (PN Jaksel) in a case filed by PT Harmas Jalesveva.
Sri Mulyani: PMI, IKK index shows potential in Indonesia's economy
Indonesian Minister of Finance Sri Mulyani Indrawati, said that the Indonesia's economy condition is showing good prospects. Indrawati's statement was supported by the level of Purchasing Managers Index (PMI) in Indonesia's manufacturing sector and the qualified Consumer Confidence Index (IKK).
Non-oil and gas driven by natural resource exports is seeing a surplus for Indonesia
Bank Indonesia (BI) reported that Indonesia has a surplus of trade balance in March 2023. This surplus was driven by the continuing surplus in the non-oil and gas trade balance, which includes natural resource commodities such as coal, precious metals, metal ore, and iron & steel.
Joko Widodo met with BASF, VW, and Eramet for investment in car battery ecosystem
Indonesian President Joko Widodo met with three leaders of leading companies from Europe in Hannover, Germany. The three companies, BASF, Eramet and Volkswagen, plan to invest in Indonesia's car battery ecosystem. BASF alone will be making a US$ 2.6 billion in investment in North Maluku.
Abdul Muhaimin Iskandar proposes an increase in funds to help digitization, and development in rural areas
Abdul Muhaimin Iskandar, also known as Cak Imin or Gus Imin, as Chairman of the National Awakening Party (PKB) proposed an increase in village funds from the previous IDR 1 billion (US$ 67,622) to IDR 5 billion annually.
Garudafood allocates Capex worth IDR 400 billion for production capacity increase
One of the leading snack companies in Indonesia, PT Garudafood Putra Putri Jaya Tbk (GOOD), has allocated IDR 400 billion (US$ 27 million) fund for Capital expenditure (Capex) in 2023. The fund will be utilized to increase the company's production capacity.
Cakap secures series C funding for blended learning and earns centaur status
Education technology (edutech) company Cakap has been nominated as a centaur after receiving series C funding from MDI Ventures and Heritas Capital with undisclosed funds. Following the granting of the fresh funds, Cakap's valuation now reaches up to between US$100 million to US$ 1 billion (IDR 1.5 to 14.8 trillion).
Digital banks profits signal potential for digital banking sector growth
Profits booked by major Indonesian digital banks indicates that digital banks are still capable of funding itself internally. Bank Jago Tbk PT, PT Bank Neo Commerce, and Allo Bank Indonesia Tbk PT. have all recorded profits in Q4 of 2022.
Seabank Indonesia books IDR 59 billion profit as Indonesia digital banking sector continues to grow
Digital banking provider PT Seabank Indonesia, which is a subsidiary of Sea Ltd., had just released its financial performance report for 2022. The report noted that the bank successfully booked a profit of IDR 59.5 billion for Q4 2022.SeaBank also recorded a net profit of IDR 269.2 billion for Fiscal Year 2022, which is equal to 186% compares to its IDR 313.4 billion loss in 2021.