JAKARTA (The Jakarta Post/ANN): Indonesia’s manufacturing activity rose to its highest level since July 2014, as the sector continued its gradual recovery from the pandemic-induced downturn for four consecutive months, although domestic demand is expected to remain slow and extended restrictions still pose risks going forward.
The country’s manufacturing Purchasing Managers’ Index (PMI) further rose to 52.2 in January from 51.3 in December last year, according to business information provider IHS Markit on Monday (Feb 1).
A reading above 50 reflects an expansion from the previous month.
“The Indonesian manufacturing sector remained on the path to recovery at the start of 2021, with growth of output and new orders among the best in the decade-long survey so far, ” IHS Markit economist director Andrew Harker was quoted in the press release as saying.
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News Highlights: Tech Giants are targeting Indonesia's 83 million who don't have bank access Photographer: Dimas Ardian / Bloomberg Photographer: Dimas
The Straits Times
Sea and Gojek can target Indonesia s 83 million who lack bank access
Banking services through mobile phones offer a solution to those strewn across thousands of islands and lack access to banks.PHOTO: REUTERS
PublishedJan 28, 2021, 8:19 am SGT
https://str.sg/JK8S
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(Bloomberg) Sea Ltd. and Gojek are snapping up Indonesian lenders, betting they can make headway into one of the world’s largest unbanked markets.The buying spree is set to continue as financial technology firms set their sights on the nation’s more than 175 million Internet users, many of whom rely on online banking services. Sea has purchased PT Bank Kesejahteraan Ekonomi this year, while Gojek made its biggest fintech investment by spending about $160 million to boost its stake in PT Bank Jago in December.While Indonesia is by far the largest fintech market in Southeast Asia, it’s one of the few that don’t license digital-only banks. The U.K., Hong Kong and Singapore have allowed virtual lenders, while neighboring Thailand and the Philippines are actively studying the matter. That means acquisitions are the only way into Indonesia and the Financial Services Authority is pushing for more consolidation among its more than 1,600 commercial and rural banks