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Banks are playing catch-up to technology players in one of the world’s largest unbanked markets. Bank Central Asia (BCA) is boosting its digital capabilities amid increased competition from tech players in the banking space, according to a report on…
Subway, the world’s largest restaurant brand, has signed an agreement with PT Sari Sandwich Indonesia, a subsidiary of Indonesia’s food & beverage retailer, PT Map Boga Adiperkasa Tbk (MBA), whose parent company is PT Mitra Adiperkasa Tbk (MAP). This…
Indonesia’s capital Jakarta allowed retail malls to reopen last week to an exclusive crowd – shoppers vaccinated against coronavirus. With restrictions still in place in much of Indonesia, Jakarta’s malls are allowed to operate at 25-per-cent capacity to try…
Indonesia’s Bukalapak launched an up to $1.13 billion IPO ahead of next month’s listing, marking the country’s biggest issue in over a decade amid rising investor appetite for tech stocks in a region boasting a growing consumer class, according to a term…
Indonesian e-commerce firm Bukalapak is keen to raise as much as US$800 million in an initial public offering (IPO) in August, two people with knowledge of the matter said, the first of two big tech listings in Jakarta this year that will add long-sought…
The strategic partnership allows the bank to operate in the cloud in Indonesia, where banking data must remain in-country, according to an announcement this week. The digital bank will use Mambu’s SaaS banking platform and Google Cloud to offer new services…
Retail sales in Indonesia fell at a slower pace of 14.6per cent on annual basis in March, compared with an 18.1per cent fall in February, a central bank survey showed on Tuesday. Stronger fuel sales were supportive, although sales of clothes and recreational…
Ooredoo today announced that its Indonesian operating company, PT Indosat Tbk. (“Indosat Ooredoo”), has signed a sale and leaseback agreement with PT EPID Menara AssetCo (“Edge Point Indonesia”) for more than 4,200 telecommunications towers. PT EPID Menara…
The platform, which caters to the financing needs of micro, small, and medium enterprises (MSMEs) in the country, experienced strong growth in 2020. Batumbu, a subsidiary of Singapore-based Validus, has received regulatory approval to operate as a licensed…
The MENA deal is actually an extension to the current retail agreement Ted Baker has with Al-Futtaim Group but adds in new e-commerce and wholesale rights for the region. The all-new 10-year Indonesia dealx has been signed with PT Mitra Adiperkasa (MAP) for…
The fund, which currently has around $15 billion in assets, is targeting to grow to $100 billion. Ridha Wirakusumah, who has been CEO Indonesia’s Bank Permata since 2017, will become the chief executive officer of the country’s new strategic development…
Retail sales in Indonesia dropped 16.3% year-on-year in November following a 14.9% fall a month earlier, a central bank survey showed on Tuesday. Sales of telecommunication types of equipment and other household goods contracted in November, the survey…
Omnichannel fashion retailer Pomelo has launched in Indonesia with its first store at Central Park Mall, Jakarta. The new store features a new design with an entirely different interior layout and looks to stores elsewhere in Southeast Asia. Pomelo Indonesia…
Retail sales in Indonesia dropped 14.9% on a yearly basis in October, the biggest fall since June and after an 8.7% fall in September, according to a central bank survey released on Thursday. Sales of food, beverages and tobacco products contracted in…
Beauty technology company Social Bella announced its first overseas expansion with the launch of the beauty e-commerce platform Sociolla in Vietnam. Demand from beauty enthusiasts in Vietnam was one of the company’s considerations, following a US$58 million…
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,…
