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Lazada to Launch Payment System This Year

JAKARTA (TheInsiderStories) - Lazada Indonesia, a major e-commerce player in the country, plans to launch its own payment system this year, following the path undertaken by Go-Jek with its Go-Pay. A number of e-commerce players...

Singapore’s 99.co Acquires UrbanIndo.com

JAKARTA (TheInsiderStories) - Singapore's startup company 99.co has completed the acquisition of UrbanIndo.com, one of Indonesia's largest property portal, for undisclosed value. Currently, UrbanIndo has over 1.2 million active listings. “With numerous synergy between the...

BI Keeps Key Rate Steady While Easing Reserve Requirement for Banks

JAKARTA (TheInsiderStories) – Bank Indonesia, the country's central bank, maintained its key interest rate steady on Thursday (18/01) and pledged to speed up plans to ease reserve limits for lenders to give them more liquidity. The...

Minister Urges ‘Unicorn’ Startup IPO in Local Stock Exchange

JAKARTA (TheInsiderStories) - Minister of Communications and Informatics Rudiantara expects the Indonesia Capital Market Authority, in this case the Financial Services Authority, to issue regulations for startup companies holding a ‘unicorn’ status to be able...

Govt Gets $27M per Year from Contracts Amendment

JAKARTA (TheInsiderStories) – The Indonesian government will be paid an additional US$27 million per annum following the signing of 19 contract amendments with mining companies, a compromise finally achieved after a lengthy negotiation process. The...

Korea MBG to Construct $5.32B Nickel Smelter

JAKARTA (TheInsiderStories) – South Korean Made By Good (MBG) Group, operating through its Indonesian subsidiary PT MBG Nikel Indonesia, is in the process of constructing a nickel smelter in Konawe, Utara Regency, Southeast Sulawesi...

Morning Briefs – Jan 18

JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today: Government to Set Up Infrastructure Holding  After establishing a holding company in the mining sector, the government will also...

President Widodo Installs New Minister, Air Force Chief

JAKARTA (TheInsiderStories) – President Joko Widodo on Wednesday (17/01) installed Idrus Marham as new Minister for Social Affairs, Airforce Chief Marshall Yuyu Sutisna and Head of Presidential Staff (KSP) retired general Moeldoko. Idrus Marham replaces...

Morning Briefs – Jan 17

JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today: Indonesia to Export LNG to Bangladesh and Pakistan Indonesia, through state energy company Pertamina, plans to exports LNG to...

Minister Rudiantara: Sharing Economy Resolves Inefficiencies

JAKARTA (TheInsiderStories) – Indonesia has witnessed the rise of ‘sharing economy’ business model over the past five years or so, in particular in areas of transportation, tourism, finance, and retail sector. The business model...