#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.
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.
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.
Energi Mega Persada is looking for new opportunities in finding additional assets
PT Energi Mega Persada Tbk (ENRG), a publicly listed Bakrie Group company in oil & gas, is looking for opportunities to acquire additional assets to add value to the company's shareholders.
Exploring trends and challenges in Indonesia's startup industry: Focus on green tech, embedded finance, and health tech for 2023
Early 2022 marks a rough beginning for startups. A number of major events became important highlights within the startup industry.
Kredivo raises US$ 270 million in D series funding round led by Mizuho Bank
Mizuho Bank Ltd, a subsidiary of Mizuho Financial Group, Inc., oversaw an oversubscribed series D funding round, raising US$ 270 million (IDR 4 trillion) for Kredivo Holdings, Kredivo's holding company, and Krom Bank which was founded in 2016.