Chinese coffee chain Cotti Coffee, the world’s fifth largest, has expanded its presence into Southeast Asia, opening first store in Indonesia at Jakarta’s Kuningan City Mall last month. Cotti Coffee opened its first store in Jakarta only less than a week after opening the first international site in Seoul, South Korea.

Indonesia welcomed 1.12 million visits of foreign tourists in July, an increase of 5.6% from June. That means the country already welcomed 6.3 million visits in the first seven months of 2023, jumped by 197% from the corresponding period last year. 

With the exception of Jembo Cable (JECC) and Kabelindo Murni (KBLM), which reported flat and lower sales, three other cable manufacturers listed on the Indonesia Stock Exchange (IDX) reported relatively stronger performance in the first half of 2023. 

Nickel miner Vale Indonesia (INCO), co-owned by state mining company MIND ID, Vale, and Sumitomo Metal Mining, announced on Friday (August 25) that it signed a definitive cooperation agreement with Zhejiang Huayou Cobalt Co. Ltd (Huayou) and PT Huali Nickel Indonesia (Huali) to construct high-pressure acid leaching (HPAL) facilities.

Thailand sugar producer Mitr Phol has reportedly acquired a 75% shares in Kebun Tebu Mas (KTM), one of sugar refineries in Indonesia, but the value of the deal yet to be disclosed.

President Joko ‘Jokowi’ Widodo is scheduled to inaugurate the Indralaya-Prabumulih (64.5 KM) toll road in South Sumatra province soon, which will boost connectivity in Sumatra Island, home to around 60 million population. This might be followed with inauguration of Binjai-Pangkalan Brandan (57.5 KM) in North Sumatra province in the coming months.

Electric vehicle, including motorcycle, might be one of solutions to improve air quality in most cities. The Energy and Mineral Resources (ESDM) Ministry is intensifying efforts to convert conventional motorbikes into electric vehicles to achieve the target of net-zero emissions by 2060. 

The upstream textile industry is pressured by imported products, so it could not gain from the momentum of economic recovery after the Covid-19 pandemic. That said, the utilization of this strategic industry fell to below 50% in the first half (H1) of 2023, much lower than the same period last year, at 75-78%. There are even factories running only 30% of installed capacity.