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The Singapore-based digital wealth engagement solutions provider has its sights on the retail and affluent banking segments in Indonesia. New Wealth has inked a strategic partnership with digital engineering firm HAXtech to distribute its solutions to banks,…
AirAsia’s founder Tony Fernandes is building what he hopes will be the region’s next “super app” as he deals with the coronavirus travel downturn. He wants to rival the likes of Grab, GoJek, and WeChat with an all-in-one app for food delivery, shopping,…
June Indonesian retail sales fell 17.1 percent over the same month last year – but that decline was slower than during the previous month. According to data from the country’s central bank, retail sales fell by 20.6 percent in May, as the Covid-19 pandemic…
Retail sales in Indonesia have fallen by 16.9 percent during the month of April compared to last year, according to government data. The drop is the steepest within the territory in 14 years and is the result of a steady decline in retail sales of a range of…
Indonesia AirAsia has been forced to halt its growth plan for this year, as a result of the coronavirus pandemic and economic challenges faced by Indonesia. The plan for 2020 was for the low-cost carrier to increase its market share by adding three new…
Governments across Asia Pacific are being urged to protect more than 320,000 duty-free and travel-retail industry jobs at risk during the coronavirus pandemic. The Asia Pacific Travel Retail Association claims that the jobs in the US$36 billion industry may…
Singapore investment firm OUE has acquired a majority stake in the parent of Indonesia’s Maxx coffee chain, which also operates in Singapore. According to the agreement, OUE’s wholly-owned subsidiary Oddish Ventures will buy an 88.43-per-cent stake, worth…
South Korean beauty company Amorepacific Group is set to launch the Etude brand in Indonesia. The firm has partnered with local lifestyle retailer PT Mitra Adiperkasa Tbk (MAP) to boost the growth of its business in the territory. MAP plans to expand…
In celebration of Lunar New Year 2020, new-age carrier Vietjetofficially commences its newest direct route linking Hanoi and Bali, Indonesia on the second day of Lunar New Year. This is Vietjet’s second service to the popular holiday destination, following…
Indonesian retail sales growth in November slowed to 1.3 percent year-on-year, well below October’s rate of 3.6 percent. However, the figures, released by Bank Indonesia, reflect the continuing uptick in Indonesian retail sales which has now lasted five…
Indonesia’s first digital bank, Bank Rakyat Indonesia announced on Monday that it has earmarked $1 million for Indonesia Mall, an early-stage assisted e-commerce program that aims to help small enterprises open new revenue channels by participating in the…
The Christmas and New Year holidays always see a spike in both local and foreign visitor arrivals to Bali. And this year is expected to be no different. In anticipation of more traffic, local news wires are reporting AirAsia Indonesia would be adding an…
Axiata Group posted revenue of MYR 6.2 billion for the third quarter of 2019 (3Q19), which represents an increase of 3.5 percent year-on-year. EBITDA jumped 29 percent to MYR 2.8 billion, boosted by revenue growth as well as the group’s cost reduction…
Indonesian coffee chain Fore Coffee is plotting an aggressive expansion plan that will make it the largest coffee operator in the country. Fore Coffee says it has partnered with hotel operator Airy to open 1000 new locations at the latter’s hotels across…
Bali, a beloved destination for tourists and popular amongst Australians has been setting up the coffee scene with Starbucks opening its largest Southeast Asian location at 20,000 sq ft earlier this year. Now, Kyoto-based coffee chain % Arabica has announced…
French luxury brand Chloe has opened its first travel-retail store inside Hong Kong International Airport. The opening comes after the brand won a retail concession by the Airport Authority of Hong Kong last year. The store offers a selection of accessories…
