Category: News Group

Indonesian financial planner, FUNDtastic has acquired shared of PT Nusantara Sejahtera Investama, the operator of mutual fund selling agent, Invisee. The deal has value of US$6.5 million. According to the financial technology...

Oil and gas producer Medco Energi Internasional (MEDC) plans to repay Rupiah bonds worth of Rp3.24 trillion before maturing in 2021. The funds for the buyback program will be withdrawn from the the issuance of global bonds in...

Retail sales in Indonesia dropped by 17.1% year-on-year in June 2020, after a 20.6% plunge a month earlier. This marked the seventh straight month of fall in retail trade, amid prolonged impact caused by the COVID-19 crisis that...

President Joko “Jokowi” Widodo said government targets to produce COVID-19 vaccines on the first half (H1) of 2021. The state-owned drug maker, PT Biofarma joined with Chinese’ Sinovac and other stakeholders now in...

Indonesian bill payment provider, Ayoconnect has raised pre-Series B funding US$5 million from BRI Ventures, the venture capital arm of Bank Rakyat Indonesia (BBRI), Tokyo Stock Exchange listed internet firm Kakaku.com, and...

Fitch Ratings has downgraded Indonesia-based developer Agung Podomoro Land (APLN) Long-Term Issuer Default Rating (IDR) to ‘C’ from ‘CCC-‘. At the same time, the US$300 million notes due in 2024, issued by a wholly owned...

China’s annual inflation rate rose to 2.7% in July 2020 from 2.5% in the prior month.  This was the highest inflation rate since April as food inflation hit its highest in three months (13.2% vs 11.1%), amid a faster rise...

American multinational firm, Chevron Corp., (NYSE: CVX) pulled out from the Indonesia Deepwater Development (IDD) block in East Kalimantan and is offering the continuation of the block to an Italian oil and gas company, ENI...

The impact of the COVID-19 has hit the national cement industry. Based on data from the association, total cement sales in the first semester (H1) of 2020 reached 30.88 million tons (MT) of cement or dropped 4.19% from H1 of...

Indonesia’ petrochemical producer Chandra Asri Petrochemical (TPIA) seeks strategic partner to build a mega project, new polyethylene plant Chandra Asri Perkasa. The project is expected to cost up to US$5 billion. According to...

China’s trade surplus widened sharply to US$62.33 billion in July 2020 from US$44.02 billion in the same month the previous year. Exports unexpectedly surged by 7.2% yoy. It was the fastest growth in exports in seven...

The Philippines economy shrank a record 16.5% year-on-year in the second quarter of 2020, following an upwardly revised 0.7 contraction in the previous quarter, worse than market consensus of 9% contraction and entering a...