Bangkok Bank has acquired an 89.12 percent stake in privately owned Bank Permata from diversified conglomerate PT Astra International and British lender Standard Chartered Bank (SCB). The Thailand-based bank completed on Wednesday the transaction for Rp 33.66 trillion (US$2.3 billion), equal to 1.63 times Bank Permata’s book value, as agreed by the sellers and buyers […]
Read MoreThis article is part of The Jakarta Post’s “Forging the New Norm” special coverage series, on how people are forging their lives anew to adjust to the new realities of COVID-19 in Indonesia. As Indonesians adjust to the reality of life in quarantine due to the COVID-19 pandemic, frozen precooked meals seem to be winning the […]
Read MoreIndonesian coal miners are struggling with slow demand this year as businesses in India, one of the country’s major coal markets, hit the brakes due to a prolonged lockdown to contain the COVID-19 outbreak, a data firm has said. The South Asian country’s coal imports, a commodity mostly used for power generation, is projected to decrease […]
Read MoreBank Indonesia (BI) will help provide liquidity for local banks involved in a credit restructuring program for micro, small and medium enterprises (MSMEs) as a part of its efforts to support the country’s economic recovery. BI Governor Perry Warjiyo said Tuesday that banks could use sovereign debt papers they held as underlying assets for repurchase […]
Read MoreCalls for digital companies to implement stronger data protection measures are growing following recent reports of a data breach against Indonesia’s e-commerce unicorn Tokopedia. Experts have argued that the data protection bill, which is currently being debated at the House of Representatives (DPR), should set a minimum-security standard for digital companies, as the current regulation […]
Read MoreLion Air Group has cut salaries and delayed Idul Fitri bonus (THR) payments to employees while giving an assurance that no job terminations are in the pipeline as the airline grapples with the impact of the COVID-19 pandemic. The group said on Wednesday that the salaries of its 29,000 employees had been cut since March […]
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Thailand
