Indonesia

Indonesian Ministry records showed that neither Alphabet Inc's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google nor Twitter Inc (NYSE: TWTR) had complied with the new Indonesian licensing rules that could see their services temporarily blocked in the country. What Happened: In late 2020, Indonesia...

Tesla, Inc. (NASDAQ: TSLA) has reportedly received an invite from Indonesia to add to its list of growing factories across the world. What Happened: Indonesia has asked Tesla to set up an electric vehicle manufacturing plant near Batang Regence in the Central Java province,...

As Indonesia vows to curb the surging cooking oil prices domestically, the country's President Joko Widodo has imposed a ban on the export of palm oil.  The ban, which kicks in on Thursday, has already ignited worries of high global food prices amid the already rising inflation caused by...

The Indonesian tax authorities will impose income tax on capital gains from cryptocurrency investments and a value-added tax (VAT) on cryptocurrency purchases — at 0.1% each — starting from May 1, as the industry sees a boom in the country, according to Reuters. In a local...

Indonesia's religious leaders have deemed cryptocurrencies such as Bitcoin (CRYPTO: BTC) forbidden for Muslims. What Happened: Indonesia's National Religious Council ruled Bitcoin and other cryptocurrencies are haram, meaning that they are banned for Muslims, according to a...

Key Apple Inc (NASDAQ: AAPL) supplier Hon Hai Precision Industry Co Ltd (OTC: HNHPF) and an Indonesian government agency last week held discussions related to a possible electric vehicle investment in the country, Nikkei Asia reported on Sunday. What Happened: The Taiwan-based Apple supplier,...

One of the richest people in the world gained his wealth by creating a leading ecommerce company. He is also among the investors in an Indonesian ecommerce company, but is doing so on his own and not with his company. What Happened: Jeff Bezos, the founder of Amazon.com Inc (NASDAQ: AMZN), is...

Indonesia ride-hailing and payments firm, Gojek announced its merger with e-commerce player Tokopedia, to form the GoTo Group, to take on rivals like Singapore’s Grab and internet company Sea Ltd (NYSE: SE), which operates an e-commerce platform Shopee and has a digital...

Indonesian ride-hailing company Gojek and e-commerce company Tokopedia finalized their merger terms and sought investor approval for a possible deal completion by summer, Bloomberg reports. The companies had discussed multiple scenarios to list the combined entity in Jakarta and the...

Indonesian travel unicorn Traveloka is in advanced talks for public listing via special purpose acquisition company (SPAC) merger with billionaires Richard Li and Peter Thiel sponsored Bridgetown Holdings Ltd (NASDAQ: BTWN) in a deal worth $5 billion, Bloomberg reports. The...

Indonesian courier company J&T Express is planning to raise over $1 billion from a U.S. initial public offering (IPO) as soon as the fourth quarter, at a $5 billion valuation, becoming the first Indonesian firm to list in the U.S. since 2019, Bloomberg reports. The company is...

Sea Limited (NYSE: SE) was a top performing stock in 2020, with shares up over 400% on the strength of its gaming and e-commerce businesses. The company is now looking to fintech for further growth in Southeast Asia. What Happened: Bank Kesejahteraan Ekonomi of Indonesia, also known...

A Boeing Co (NYSE: BA) plane that departed from the Indonesian capital of Jakarta crashed shortly after takeoff with 62 people on board. What Happened: The Sriwijaya Air Boeing 737, flight number SJY 182 headed to the Indonesian city of Pontianak, lost contact on Saturday at 2:40 p.m. Western...

Tesla Inc (NASDAQ: TSLA) supplier LG Energy Solution, which spun-off from LG Chem earlier this month, has signed a $9.8 billion electric vehicle battery investment agreement with Indonesia, Reuters reported Wednesday (Jakarta time). What Happened: The memorandum of understanding (MOU) was...

A SPAC launched in October by Peter Thiel and Richard Li is being linked to a merger with Indonesian e-commerce company Tokopedia. About the SPAC: Billionaires Thiel and Li launched Bridgetown Holdings (NASDAQ:BTWN) to target the southeast Asia region. Thiel is well-known as the...