Business News

Business news to help you keep track of the latest developments and identify new opportunities across key sectors in Southeast Asia

Monthly Business News to Help You Understand the Market

Indonesia Attracts USD 22.4 Billion Investment in the First 3 Months of 2023

The Indonesian government has revealed that the country has received IDR 328.9 trillion (USD 22.4 billion) in investment in the first quarter (Q1) of 2023. Indonesia targets ...

Spanish UAV Specialist Partners with Indonesian Company to Expand Regional Footprint

Spanish unmanned aerial vehicles (UAVs) designer and manufacturer Alpha Unmanned Systems (AUS) has entered a licensed manufacturing agreement with Indadi Venyro of Indonesia ...

Multinational Pharmaceutical Company to Establish Subsidiary in Indonesia

Multinational pharmaceutical company Natco Pharma Ltd has received approval for the establishment of a subsidiary in Indonesia. The company plans to invest up to USD 3 ...

US Company Forms JV in Indonesia Offering Digital Infrastructure Solutions

American IT company Equinix, Inc. and Indonesian conglomerate PT Astra International Tbk (Astra) have announced a joint venture to develop Indonesia's digital infrastructure. ...

Indonesia and the United States Sign USD 698 Million Infrastructure and Finance Compact

Indonesian Minister of Finance Sri Mulyani Indrawati and US Secretary of the Treasury Janet Yellen have signed the Indonesia Infrastructure and Finance Compact, amounting to ...

American 3D Geospatial Specialist Expands to Indonesia with Solutions for Decreasing Crop Loss

Intermap Technologies, a global pioneer in 3D geospatial products and intelligence solutions from Colorado, has announced a deal to offer 3D digital elevation models (DEMs) ...

Ace Hardware Indonesia to Launch 15 New Stores in 2023

PT ACE Hardware Indonesia Tbk (ACES), a company owned by conglomerate Kuncoro Wibowo and part of the Kawan Lama Group, has inaugurated five new stores in the first quarter of ...

Indonesia to Develop Large-scale Chlor-alkali Plant in Collaboration with Japanese Player

PT Chandra Asri Petrochemical Tbk (Chandra Asri), Indonesia's largest petrochemical company, and Indonesia Investment Authority (INA) have signed a Memorandum of ...

Linde to Supply Green Hydrogen to Evonik in Singapore

Global industrial gases and engineering company Linde announced has signed a long-term agreement to supply green hydrogen to Evonik, a leading specialty chemicals ...

LTA Awards Two Contracts for Cross Island Line Systems

The Singapore Land Transport Authority (LTA) has awarded two contracts for the provision of four key systems – signaling system, platform screen doors (PSD) system, ...

Superapp Grab’s Digital Bank Launches Instant Loans in Singapore

GXS Bank, a virtual lender majority-owned by Grab in Singapore, has launched instant loans starting from SGD 200  (USD 149). The aim is to cater to gig workers and digital ...

Wellcome Leap & Temasek Trust Launch Program to Extend Health Spans

The Singapore Ministry of Health (MOH) has confirmed its intention to table a new Health Information Bill in the second half of 2023. Through the bill, the MOH seeks to ...

Singapore Looking into Adoption of Biofuels and Bioresources

In its pursuit of achieving net-zero carbon emissions by 2050, Singapore is actively exploring the wider implementation of biofuels and sustainable bioresources in ...

Singapore Plans to Seek Bids for New Electricity Generation Capacity by 2028

Singapore will be seeking bids to increase its electricity generation capacity by 2028 to meet the growing energy demand as the Government moves towards a centralized process ...

Singapore and France Defence Ministries to Establish Joint R&D Lab in Singapore to Develop AI Capabilities

The Singapore Ministry of Defence (MINDEF) and France's Ministry of the Armed Forces (MOAF) have signed an agreement to establish a Joint Research & Development ...

Singapore to Outline Blueprint for 6G Mobile and 10Gbps Home Links

A new national blueprint, known as the Digital Connectivity Blueprint, is being drafted by the Ministry for Communications and Information (MCI), outlining plans for 6G ...

Spanish Furniture Brand Kave Home Opens First Regional Store in Singapore

Spanish furniture, design and decoration brand Kave Home launched its flagship store in Singapore in March 2023, its first in Southeast Asia. First established as an online ...

Singapore and Indonesia Sign Agreements on Tech Talent and Smart Cities

During the sixth Singapore-Indonesia Leaders’ Retreat held in March 2023, it was announced that Singapore and Indonesia are exploring cooperation in new areas such as tech ...

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