#Finance
Delta Dunia Group acquires Atlantic Carbon Group
Jakarta − PT Delta Dunia Makmur, through American Anthracite SPV I, LLC, a subsidiary of BUMA International, has signed a Stock Purchase Agreement (SPA) for acquisition of Atlantic Carbon Group, Inc (ACG), the second largest Ultra High Grade (UHG) anthracite producer in the United States.
Jokowi's Flagship Projects Absorb USD $105.36 Billion of State Budget
The Coordinating Ministry for Economic Affairs (Kemenko Perekonomian) reports a substantial allocation of State Budget (APBN) totaling Rp1,515.4 trillion (USD $105.36 billion) dedicated to advancing the development of National Strategic Projects (PSN). Wahyu Utomo, Deputy for Coordination of Regional Development and Spatial Planning at the Coordinating Ministry for Economic Affairs and Chairman of the Executive Committee of the Committee for Accelerating the Provision of Priority Infrastructure (KPPIP), highlighted the significant impact of this budget, resulting in the completion of 190 PSN projects between 2016 and 2023.
Bahlil: Indonesian banks reluctant to finance nickel smelters
Minister of Investment/Head of Investment Coordinating Board Bahlil Lahadalia said the majority of nickel smelters in Indonesia are foreign investment despite the fact that 80 percent of nickel mining are owned by Indonesians.
DBS research forecasts positive economic outlook for risky investments in Q1 2024
DBS Group Research has released projections indicating that the first quarter of 2024 will provide a conducive environment for investments in risky assets such as stocks and corporate bonds.
Pertamina International Shipping plans IPO, set to release minimum 10% of shares
PT Pertamina International Shipping (PIS) is gearing up for an initial public offering (IPO) on the Indonesia Stock Exchange (BEI) in the coming year, with plans to release a minimum of 10 percent of its shares to the public.
Bank Mandiri, Telkom subsidiaries target green and German startups
Bank Mandiri's subsidiary, Mandiri Capital Indonesia (MCI), and Telkom Indonesia's subsidiary, MDI Ventures, are targeting startups that utilize advanced technology not widely adopted in Indonesia.
Businesses wary of Red Sea conflict, impacts on export and import
The escalating conflict in the Red Sea has led to a surge in logistics costs for exporters in distributing goods, while importers have not yet seen significant impacts from the geopolitical situation in the Middle East.
Foreign capital inflows of IDR 8.61 trillion in early January 2024
The Indonesian Central Bank (BI) recorded IDR 8.61 trillion (US$ 554 million) of foreign capital inflows into the domestic financial market in the period of January 2-4, 2024.
Bank Indonesia plans digital rupiah trial in 2024 as part of national payment system development
Bank Indonesia (BI) is gearing up for a trial of its central bank digital currency, known as the digital rupiah, in 2024. The central bank intends to collaborate with large-scale financial institutions for this pilot, according to Deputy Governor Juda Agung. This initiative is highlighted as one of the five short-term focuses in the development of the national payment system.
Kliring Penjaminan Efek Indonesia recognized as third country central counterparty in Europe with low risk
The Financial Services Authority (OJK) has officially signed a MoU with the European Securities and Markets Authority (ESMA), leading to the acknowledgment of PT Kliring Penjaminan Efek Indonesia (KPEI) as a Third Country Central Counterparty (TC-CCP) in the European market.
Jokowi approves US$6 billion capital injection for WIKA
President Joko “Jokowi” Widodo has approved the additional state capital injection (PMN) to PT Wijaya Karya (WIKA) amounting to Rp6 trillion (US$419 million).
Freeport pours sevent percent of 2023 profit to Papua regional administrations
PT Freeport Indonesia (PTFI) has deposited around Rp3.35 trillion (about US$207 million), or about sevent percent out of its 2023 profit of Rp48.79 trillion, to the regional administrations in Papua.