In this issue

With the alarms of potential recessions in several western economies ringing ever louder, and up to 28 countries looking for financial assistance from the IMF, the need for greater collaboration among the world’s major economies is as imperative as ever before. However, the ongoing war in Ukraine and US tensions with China continue to act as a barrier to cohesive action. The re- cent G20 Finance Ministers meeting breaking up without a joint communique being an example of the current political climate. With the G20 summit just a few weeks away, and with all leaders expected to attend, we can hope that some behind-the scenes meetings can help bring back an active dialog and concerted action on those issues which are challenging all countries. As Finance Minister Sri Mulyani Indrawati was quoted at the end of the G20 Finance Minister meeting, now is the time for “strong leadership and collective action”.

BACK ON TRACK

Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.

10+ mins

Championing Locals

The wave of social commerce is enabling inclusive digital economies beyond urban areas.

6 mins

Boys in the Bubble

Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.

6 mins

Enduring Relations

The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.

6 mins

Sweet Success

Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.

5 mins

Marathon Man

Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.

5 mins

Gold Rallies on Inflation Fears

During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.

2 mins

Set Off to A New Start

Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.

5 mins

The Daily Intake

YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.

4 mins

THE CROESUS OF CRYPTO

FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.

10+ mins

The Cost of Looking Good

The fashion industry is at the tipping point of turning sustainable.

5 mins

Resilient Sectors in Greater Jakarta Amid the Pandemic

The pandemic has resulted in a challenging period for much of the Greater Jakarta real estate market.

2 mins

Sweet Dream

On 17 August 2021, PTPN, the national state-owned plantation company, with government support, officially established PT Sinergi Gula Nusantara (SugarCo) by bringing together 35 sugar mills owned by seven of its members under a single entity subsidiary.

4 mins

To the Moon

Tokocrypto takes early steps to integrate blockchain and crypto technology into Indonesian society

4 mins

ROADS TO SUCCESS

JUSUF HAMKA ASPIRES TO TURN CITRA MARGA NUSAPHALA PERSADA INTO A RP100 TRILLION COMPANY, IN TERMS OF ASSETS.

6 mins

Reshaping Business

At the height of COVID-19 pandemic, Hero Supermarket executes a major decision to divest Giant. Now, it is recalibrating business to regain profitability.

5 mins

Humility Matters

TAUFIK DARUSMAN IS ONE OF INDONESIA’S MOST EXPERIENCED JOURNALISTS. HE HAS HELD CHIEF EDITOR ROLES AT BUSINESS WEEK INDONESIA AND INVESTOR MAGAZINES, AND THE INDONESIAN OBSERVER NEWSPAPER.

2 mins

Opportunity in The Rise of Palm Oil Prices

What would you do if you had $5 billion in cash?

4 mins

Bridging the Gap

Komunal provides a platform that connects depositors to rural banks that rely on brick-and-mortar branches.

4 mins

Accelerating Progress on Indonesia's Climate Initiatives

As a follow-up to the urgent call to action contained in August 2021’s Intergovernmental Panel on Climate Change (IPCC) report and ahead of September’s UN General Assembly, Climate Action Tracker issued its update on the progress being made by countries towards their commitments under the 2015 Paris Accord.

8 mins

Bot Doc

Two young MIT grads and a bariatric surgeon are gambling on a new miniature surgical robot to make abdominal surgery faster, safer and cheaper—and beat the industry’s goliath.

5 mins

Charting the New Streams

As a podcast content platform, Noice is starting to show substantial growth in the Indonesian market by focusing on local content and multi-vertical audio.

4 mins

GROWTH PIVOT

CEO YASUO TAKEUCHI IS LEADING OLYMPUS’ TRANSFORMATION INTO A MEDICAL TECHNOLOGY COMPANY AFTER SELLING OFF ITS LAUDED, BUT MONEY-LOSING, CAMERA BUSINESS.

7 mins

GUARDED CONFIDENCE

AMID THE UNCERTAINTY, INDONESIA SEEKS TO CHANGE GEARS AND DRIVE ITS ECONOMIC GROWTH BACK TO THE LEVELS OF BEFORE THE PANDEMIC.

10+ mins

One for All

Social commerce platform Evermos creates a collaborative economy by empowering resellers and MSMEs across all of Indonesia.

4 mins

Race to Zero

Katingan Mentaya Project is leading the way in the global carbon finance-based conservation.

4 mins

Rich Suckers

Private equity funds are the greatest wealth builders ever invented on Wall Street. So why have the retail versions of the dealmakers’ funds, peddled by Merrill Lynch and other brokers, performed so poorly?

5 mins

Taking Shape

DYLAN FIELD sculpted FIGMA into design software’s hottest startup, valued at $10 billion, by listening first and letting the market and customers guide its research and development.

6 mins

The Jump Shot

Under Jahja Tear Tjahjana’s leadership, Oneject Indonesia is enhancing its global and domestic auto-disable syringes’ market.

4 mins

Shout Out for Japan

REALITY CHECK

2 mins

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Forbes Indonesia Magazine Description:

Forbes Indonesia is a world-class business magazine of uncompromising quality and scope, providing insights and information to readers critical to their business and inspiring them to greater success