indo03
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Indonesia: Fintech regulation coming soon: OJK

The Financial Services Authority (OJK) is about to issue a new set of rules on financial technology (fintech), as more and more startups arise in the industry. The OJK’s head of digital financial innovation and micro-finance development, Triyono, said the regulation was currently awaiting approval from the Law and Human Rights Ministry. “We will begin […]

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Indonesia: A guide to understanding the Freeport divestment deal

On Thursday, four Indonesian ministers gathered to witness the signing of an agreement between state-owned mining holding group PT Indonesia Asahan Aluminium (Inalum) and Freeport-McMoran (FCX), the owner of PT Freeport Indonesia (PTFI).  Under the agreement, Indonesia will take control of 51 percent of Freeport Indonesia’s equity, and hence hold a majority stake in the […]

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Government oversells PT Freeport Indonesia agreement

The agreement made on Thursday between PT Indonesia Asahan Aluminium (Inalum) and United States mining company Freeport-McMoran Inc. (FCX) was largely welcomed by the government, which claimed that the future of PT Freeport Indonesia (PTFI) was now clearer. It added that the heads of agreement (HoA) signed by FCX and Inalum, which represents the government, […]

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Indonesia: Online Taxi App GoJek Expands to Four Southeast Asian Countries

TEMPO.CO, Surabaya – Indonesian application-based ride-hailing company GoJek confirmed that it will expand to four Southeast Asian countries, namely Singapore, Philippines, Thailand, and Vietnam. GoJek Indonesia corporate communication Vice President Michael Say explained that the company’s brand name for the Vietnam market will change to ‘GoViet’, while Thailand will take the name ‘Get’. “As for the two remaining countries; Singapore […]

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Indonesia: Bankers see Go-Jek as new competitor: Survey

Most Indonesian bankers see Go-Jek as an “emerging competitor” to conventional banks in the payment sector, according to a survey conducted by PricewaterhouseCoopers (PwC) Indonesia. The survey seeks to gather diverse views from senior banking executives on digital banking in Indonesia.  “A majority of Indonesian bankers, around 72 percent, consider Go-Jek to be one of […]

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Indonesia: House approves Rp 2.57t budget for Industry 4.0

The Trade Industry is getting an additional Rp 2.57 trillion (US$178 million) after the House Commission VI overseeing industry affairs agreed to financially support the development of Industry 4.0. The funds will be used to help adjust five industry segments — textile, garment, automotive, electronics and chemical — to face the so-called fourth industrial revolution […]

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