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SVB’s collapse: lessons learned for Indonesia’s banking industry
The collapse of Silicon Valley Bank, SVB, sent shockwaves through the financial system, reviving memories of the global crisis in 2008.
State-owned banks devise strategies in facing potential recession 2023
Indonesia’s state-owned banks BRI, Mandiri, BNI, and BTN have presented a number of mitigation strategies to face the potential recession in 2023 in the meeting of the DPR Commission VI on Tuesday (28/3).
WSBP invest IDR 80 billion to build Nusantara's Presidential Palace and working roads
PT Waskita Beton Precast (WSBP) is a publicly traded Indonesian state-owned enterprise (SOE) founded in 2014 and a subsidiary of PT Waskita Karya (Persero). It is the country's largest producer of precast and mixed concrete. The company intends to invest IDR 80 billion (US$ 5.2 million) in capital expenditure (Capex) to develop Indonesia's New Capital, Nusantara, in East Kalimantan.
Indonesia, Western Australia join forces to boost EV industry
The Western Australian Government Deputy Premier Roger Cook and the Indonesian Chamber of Commerce and Industry (Kadin) Chairman Arsjad Rasjid signed a Memorandum of Understanding (MoU) in Perth, Australia, on February 21, 2023.
Government should provide favorable climate to attract tin downstream investors
To attract investors in the tin downstream industry, Indonesia must guarantee competitive investment costs, affordable gas prices, low logistic costs and infrastructure availability. President Director of state-owned tin mining company PT Timah Tbk., Achmad Ardianto, said investors in the tin downstream industry would seek a location with reasonable capital or minimal investment costs.
Energy ministry prepares exploitation of rare earth minerals
The Ministry of Energy and Mineral Resources' Geological Agency is exploring the potential of rare earth minerals in Indonesia. The exploration is carried out to identify rare earth minerals in the laterite potential areas outside the mining sites, so the government can prepare the mining operation permits.
Antam, LG Energy Solution cooperation remains unclear
A planned cooperation in developing electric vehicle battery between Indonesian state-owned mining company PT Aneka Tambang Tbk (Antam) and South Korean battery maker LG Energy Solution (LGES) is still unclear. State mining holding company MIND ID Chief Executive Officer Hendi Prio Santoso said that LG even left the negotiation of the project to a member of its Huayou Cobalt Co.Ltd. of China.
Government's plan to ban copper exports may cause 40,000 jobless
The government's plan to fully ban the exports of copper concentrates has worried the Indonesian Mining Association (IMA) over the fate of around 40,000 workers in the industry. The IMA raised concern over the government's unlikeliness to complete the downstream industry before the planned deadline of June 2023.
DPR eyes liberalization agenda with power wheeling scheme in renewable energy bill
The House of Representatives (DPR) received harsh criticism for its proposal to include power wheeling in the problem inventory list (DIM) during the deliberation of the renewable energy bill. Activists and experts have seen the power wheeling policy as a form of liberalization of Indonesia's power sector that only benefit private sector.
Coal, gold still dominate mining industry in 2023
The mining industry in Indonesia has been facing several challenges in recent years, including a fluctuating commodity market, environmental concerns and the uncertainty of regulations, which could be inconsistent. However, two mining commodities will still shine in 2023: Coal and gold.
10 most popular e-wallets among Indonesians
In this digital era, the volume of financial management instruments is increasing in Indonesia. Banking and/or non-banking institutions have issued various innovations to help the public manage their finances more efficiently. The presence of an e-wallet is a proof of its implementation.
Top 10 insurance companies in Indonesia
The insurance industry in Indonesia has been growing in recent years, due to the increasing awareness among the people on the importance of insurance. The government has also raised its efforts to increase insurance penetration in the country. The insurance industry is regulated by the Financial Services Authority (OJK) and comprises of both state-owned and private companies.