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Biofuel production threatens Indonesia’s commitment to climate change
CDP, an international environmental non-profit, launched its report titled, ‘How Green Are Biofuels: Understanding the risks and policy landscape in Indonesia’. It aims to assess the evolution of biofuel policies related to palm oil production in Indonesia. Since 2006, the
Grab officially announces plan to IPO on US stock exchange through SPAC
Grab’s journey to become a public company on the US stock exchange is facilitated by Altimeter Growth, a special purpose acquisition company (SPAC). Based on the proposed transaction plan, Altimeter Growth and Grab will be fully owned by a new
Bank BRI offers express digital lending for customers
Bank BRI launches Ceria, a consumer lending product with easy application and processing that can be used for purchases on e-commerce and travel sites. This is the bank’s effort to be competitive with the value proposition of ‘fast application and
Bank Mandiri becomes one of the channeling partners for national assistance programs
As part of Covid-19 response, the Indonesian government has launched a number of nationwide recovery (PEN) programs, and Bank Mandiri is one of the state-owned banks to be one of the channeling partners. As part of the PEN programs, the
Bank Indonesia announced plans to launch digital currency known as Central Bank Digital Currency
BI has yet to announce the issue date for Central Bank Digital Currency (CBDC), but shared that it will involve a multi-year implementation plan. On-going evaluations are performed by BI to understand implications on the macro economy, monetary and fiscal
Concerns on growing foreign debt
Bank Indonesia (BI) highlighted the 4.6% year-on-year growth in government external debt in January 2021. Erwin Haryono, Head of Communications at BI, shared that this growth is expected due to the increased government spending on Covid-19 pandemic recovery efforts. However,
Increased collaboration between fintech companies and rural banks
The Indonesian Joint Funding Fintech Association (AFPI) forecasts that fintech lending in collaboration with BPRs (rural banks) can increase financing outside of Java to 20% in 2022, from the current 15%. This is in line with the recent guidelines issued
Fintech lending expected to reach US$5.9 billion in 2021
The Indonesian Joint Funding Fintech Association (AFPI) is expecting total loan disbursement of IDR86 trillion (US$5.9 billion) for 2021, a significant increase from IDR65 trillion (US$4.46 billion) in 2020. According to OJK, the non-performing loans (NPL) for outstanding credit past
Grab reportedly merging with a SPAC this week with a projected valuation of IDR510 tn (US$35bn)
Grab, Singapore’s ride hailing super app, is reportedly preparing to IPO on the New York Stock Exchange through a merger with a SPAC (special purpose acquisition company), at an estimated valuation of US$35 billion. The Financial Times reports that Grab
E-commerce companies’ strategy to acquire multi-finance companies
A handful of e-commerce companies have been targeting multi-finance companies to acquire as part of offering a pay-later service for customers. This includes companies like Traveloka, an online travel booking company, and Atome Financial, beauty and fashion e-commerce, that plan
