#Finance
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.
Fake QRIS code, new threats to digital banking ecosystem
The recent case of fake QRIS codes installed in charity boxes presents a major hurdle amid Bank Indonesia’s efforts to develop a digital, tech-based payment system.
IBC has signed agreements with CBL and LG to develop EVs battery.
Chief Executive Officer of PT Industri Baterai Indonesia Toto Nugroho said that the company needs high cost to finance the development of electric vehicle battery .
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.
I like loyalty and fairness: Sebastien Gautier
Sebastien Gautier is the President of the Indonesian French Chamber of Commerce and Industry. He is also the Managing Partner at Mazars Indonesia. Recently, He sat with Indonesia Business Post to discuss the business potential in Indonesia, French-Indonesia relations, and the challenges in dealing with talents in this country.
Sinar Mas Group invests in 01Fintech to boost its fintech sector
Indonesian conglomerate Sinar Mas is expanding its private equity business through an investment in Southeast Asia-focused private equity firm 01Fintech.
Indonesia encourages use of ASEAN currencies as alternative to US Dollar
Indonesia is currently taking part in encouraging the reduction of the use of non-ASEAN currencies for transactions between ASEAN members. The move was made as part of the ASEAN Regulations and in response to the latest trends in global finance where major economies began to abandon the US Dollar as a means of transaction.
Blibli lost IDR 5.53 trillion in 2022, and sold investments in GoTo
One member of Djarum group of companies Blibli.com, lost IDR 5.53 trillion (US$ 370.4 million) in 2022, due to the large increase in costs of revenue.
Saudi Arabia's oil cuts and deals caused world wide geopolitical and economical implications
Saudi Arabia, motivated by economics, held a significant development through oil deals, oil cuts, and became a member of the China-led Shanghai Cooperation Organization (SCO) amidst geopolitical, and economic implications.
Harita Nickel to list on IDX with IPO worth IDR 9.99 trillion
PT Trimegah Bangun Persada Tbk (NCKL) also known as Harita Nickel, will be holding an initial public offering (IPO) to fund its subsidiaries and associate companies.
Negative sentiments haunt crypto market, causing drop in price
The crypto market began to weaken as billions of dollars of funds were withdrawn from the crypto asset market in recent months. According to Coinmarketcap data on April 4, 2023 at 6.50 WIB, the largest capitalized crypto market, Bitcoin (BTC) plunged 0.73% in the last 24 hours. Currently, it is holding at US$ 28,178.53 (IDR 422.53 million) per coin.