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Retail Asia17/03/2017

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State Enterprises Minister Rini Soemarno appointed Elia Massa Manik as the new president director of state oil and gas company Pertamina to replace Dwi Soetjipto who was relieved of his duties on February 3, 2017. Manik, who is appointed to the post of Pertamina president director based on State Enterprises Ministers Decree No. SK-52/MBU/03/2017, earlier […]

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Retail Asia15/03/2017

India and Indonesia today decided to enhance cooperation in cyber security and intelligence sharing. This was decided at a meeting between Minister of State for Home Kiren Rijiju and visiting Indonesian Minister for Security Gen Wiranto here. “The bilateral meeting with Indonesian Minister for Security and Coordination was very fruitful. The meeting focused on cyber […]

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Retail Asia15/03/2017

The government is holding an event to attract foreign investors called “Indonesia Investment Week Singapore Chapter 2017,” which started on Monday and will end on Wednesday. It is the first Indonesian Investment Week organized outside Indonesia. The event at Marina Bay Sands will feature various activities, including an exhibition, a business forum and one-on-one meetings […]

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Retail Asia15/03/2017

Huawei has arranged to acquire a 16.83% stake in Indonesian operator Bakrie Telecom by converting some of the operator’s debt into shares. Debt-laden Bakrie Telecom issued a 7.6 trillion rupiah ($568.1 million) mandatory convertible bond in 2016 as part of a debt restructuring. Huawei has now decided to convert its holdings of the bond into […]

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Retail Asia15/03/2017

Amid a lacklustre housing market at home, PropNex Realty, one of Singapore’s largest real estate agencies, embarked on its first regional expansion in the second half of last year with its entry into the massive Indonesian market. “The reasons were quite clear. We have been in existence for 17 years. The first 15 years we […]

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Retail Asia15/03/2017

The Investment Coordinating Board (BKPM) said that South Korean investors will invest in numerous sectors in Indonesia. BKPM chief Thomas Trikasih Lembong said in this week alone, several project agreements will be signed. “I’m expecting for several infrastructure and electricity projects to be signed this week. The value is about US$200 million (approx. Rp2.6 trillion),” […]

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Retail Asia15/03/2017

Former Chelsea, AC Milan and Real Madrid midfielder Michael Essien has signed with Indonesia’s Persib Bandung, the club announced today, the highest-profile player to join a team in the country for years. The Ghanaian signed a one-year contract for an undisclosed sum to join Persib, which is one of the best clubs in the country. […]

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Retail Asia14/03/2017

President Joko Widodo (Jokowi) received Toyota Motor Corporation executives led by the companys president, Akio Toyoda, at Merdeka State Palace here on Monday. “In 2015, Jokowi visited Toyota in Japan, and today we have presented a report on the several commitments of Toyota in Indonesia,” PT Toyota Motor Manufacturing Indonesias (TMMIN) deputy president director Warih […]

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Retail Asia14/03/2017

The first phase of Garuda Indonesia Travel Fair (GATF) 2017 which is held on March 10-12, 2017 in 24 cities generates positive results by achieving a total transaction amounting to IDR457 billion, surpassing the target set at IDR380 billion. The largest revenue contributors come from the city of Jakarta, Lombok and Denpasar. VP Corporate Communications […]

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Retail Asia14/03/2017

Bank Central Asia (BCA) on Monday reported an all-time high annual net profit, as Indonesia’s key tax amnesty programme helped to lower cost of funds for the country’s biggest lender by market value. BCA posted a 2016 net profit of 20.6 trillion rupiah (S$2.17 billion), up 14.4 per cent from a year ago. This was […]

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Retail Asia14/03/2017

Indonesias tourism brand “Wonderful Indonesia” won “The Best Exhibitor 2017” title at the worlds biggest tourism exhibition in Berlin, Germany. Indonesias tourism minister Arief Yahya hailed the award announced at around 2.30am on March 12. “This is a pride achievement. ITB (International Tourismus Borse) Berling is the worlds biggest tourism exhibition attended by 187 countries, […]

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Retail Asia14/03/2017

CIMB Niaga Syariah, the sharia unit of PT Bank CIMB Niaga Tbk recorded a 165.5 percent increase in its net profit to Rp305.43 billion in 2016 from Rp115.03 billion in the previous year. Director of the sharia unit of CIMB Pandji P. Djajanegara attributed the surge in profit to 40.2 percent rise in sharia financing […]

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Retail Asia13/03/2017

Mitsubishi Motors and its new parent Nissan are studying joint production of pickup trucks in Southeast Asia as they look for savings within the broader Renault-Nissan alliance, a senior executive told. The Japanese groups may pool technical underpinnings and production of future replacements for the Thai-built Nissan Navara and Mitsubishi Triton, Mitsubishi Chief Operating Officer […]

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Retail Asia13/03/2017

While its direct-selling model echoes brands like Avon and Tupperware, Indonesia’s MindStores gives the approach a modern twist—with augmented reality. Recognized as the first partnership store network to use augmented and virtual reality, MindStores equips its store owners with their own unique partner cards which customers use to access the stores virtually. The whole process […]

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Retail Asia13/03/2017

The Tourism Ministry, in cooperation with Chinese provincial tourism administrations, aims to raise the number of tourist arrivals from China by 50 percent to 2.1 million in 2017 from 1.4 million last year. The ministry’s director for Asia-Pacific tourism promotion, Vinsensius Jemadu, said that this year’s increase would be part of Indonesia’s target to attract […]

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Retail Asia13/03/2017

The Indonesian Stock Exchange (IDX) has inaugurated the 250th Investment Gallery located at the Faculty of Economy and Business of Udayana University in Denpasar, Bali. The galleries are spread in 240 universities in Indonesia. IDX President Director Tito Sulistio said investment gallery is a means to introduce the capital market to academicians. It is established in […]

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Retail Asia13/03/2017

Digital media group REV Asia is on the lookout for local partners for its operations in Indonesia and the Philippines, says managing director Voon Tze Khay. The group’s initial plan, which was to grow its market share in social media advertising revenue in those markets, hit a snag one-year into operations, leading it to seek […]

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Retail Asia13/03/2017

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President Joko Widodo has revealed that global competition in the furniture and handicraft industry is increasingly rapidly. Moreover, changes in mode of creative industries are on the rise, as well as providing an alternative for its own market. The President also claimed to have become more satisfied with the changes that occur in the furniture […]

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Retail Asia10/03/2017

Indonesia’s PT Telkom has reported a 24.9% increase in net profit for FY16 to 19.35 trillion rupees ($1.45 billion), on the back of a strong performance in the company’s data and internet businesses. Total revenue grew 13.5% to 116.33 trillion rupees, with revenue from the company’s data, internet and IP business growing 31.5% from 2015 […]

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Retail Asia09/03/2017

The Development Bank of Singapore (DBS) plans to introduce a smartphone-based mobile banking option for the Indonesian market as a way to further digitalize the banks’ operations and utilize digital innovation to its advantage. Digital transformation is part of a larger agenda for DBS, seeing that the need for digitalization is no longer seen by […]

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