#Corporate
TikTok CEO plans on investing in Indonesia
TikTok CEO Shou Zi Chew confirmed that the content creation platform company will be making investments in Indonesia. TikTok is said to have plans to make US$ 10 billion investment, which equals to IDR 149.5 trillion.
West Java’s strategic projects target South Korean and Japanese investors
The West Java Provincial Government offers six strategic projects to 100 investors from South Korea and Japan at an Investment Roadshow, part of the Road to West Java Investment Summit (WJIS) series, held in Jakarta on Tuesday (12/6).
Megawati Soekarnoputri urges nuclear development and follow North Korea
Megawati Soekarnoputri, the Chairwoman of the Indonesian Democratic Party of Struggle (PDI-P), asserted that Indonesia should follow North Korea's lead in developing nuclear capabilities. The statement has inevitably sparked intense discussions,
Vale insists on becoming controlling shareholder after divestment
Indonesian Minister of Energy and Mineral Resources Arifin Tasrif stated that Vale Canada Limited (VCL) insisted on being the controlling shareholder of PT Vale Indonesia Tbk. (INCO) after the planned divestment. As previously reported, the divestment is part of the requirement to convert Vale's work contract into a special mining business permit (IUPK).
Boeing and AirNav partner to boost Indonesia's aviation sector
US aircraft manufacturer Boeing announced on Monday (12/6) that the company has signed an agreement with Indonesian state-owned air navigation firm AirNav, to explore initiatives to further enhance the safety and efficiency of Indonesia's national air traffic management system.
Bauxite export ban to enter into effect after June 10, 2023
The Ministry of Energy and Mineral Resources will proceed with firmly banning export of bauxite ore after June 10, 2023. The ban is in accordance with provisions regulated in law No. 3 of 2020 concerning Mineral and Coal Mining.
East Luwu government to joins Vale Indonesia’s divestment plan
East Luwu Regent Budiman led a preparatory meeting for the upcoming divestment of PT Vale Indonesia Tbk (INCO) shares valued at IDR 5 trillion to the East Luwu regency administration.
DPR reveals alleged misallocation of 20 percent Vale shares to ‘fake’ company
Member of the Gerindra Faction in Commission VII of the Indonesian House of Representatives Bambang Haryadi, revealed that there is information indicating that 20 percent of PT Vale Indonesia’s shares, which should have been divested or transferred to domestic companies, were instead transferred to a ‘fake’ company.
Jokowi meets US-ABC delegation for trade and investment talks
President Jokowi welcomed delegates from the United States - ASEAN Business Council (US-ABC) to the Presidential Palace, on Thursday (25/5). The purpose of the meeting was to engage in discussions regarding the enhancement of trade and investment cooperation between Indonesia and the US.
Suspicion surrounding RGE's involvement in deforestation, say environmentalist report
Several non-profit organizations suspected that Sukanto Tanoto's Royal Golden Eagle (RGE) Group is associated with deforestation in North Kalimantan.
Kadin calls on Chinese companies to collaborate in building smart cities
In order to promote Chinese involvement in the development of smart cities in Indonesia, the China Committee of (KIKT) of the Indonesian Chamber of Commerce and Industry (Kadin) has held the Indonesia-China Smart City Technology & Investment Expo 2023, on May 24 to May 26, 2023.
Banks take measures to improve cyber security following recent attack and data breach
Following the recent cyber attack launched against Bank Syariah Indonesia (BSI), safety of information technology has become one of the main concerns in the banking sector.