In this issue

Reminiscent of the popular children’s game, the progress of most countries around the world in their efforts to achieve a smooth exit from social distancing measures and to re-open their borders seems to remain a matter of four steps forward, three steps back. Locally, the vaccination roll-out gains traction but a surge in COVID-19 cases has placed extreme pressure on the capacity of hospitals to manage an increase in serious cases, resulting in the implementation of new lockdown measures for the first weeks of July. This has dealt a blow to efforts to try and boost the recovery among the travel and hospitality sector as domestic travel is curtailed and plans for an opening of international travel to Bali and other destinations are put on hold. Those countries with high vaccination rates are now debating pathways for increased international travel, including the differentiation of quarantine restrictions for vaccinated and non-vaccinated travelers, and the sector will be watching closely as it seeks to recover from the impacts of a 77.6% decline in international arrivals year to date May 2021, which follows a 75% decline across 2020 as a whole.

ANTHONI SALIM INVESTS RP 1 TRILLION IN DATA CENTER

Last May, billionaire Anthoni Salim topped up his shares at PT Data Center Indonesia Tbk (DCI) by adding 192.74 million shares worth Rp1.01 trillion.

1 min

Championing Startups

Arya Setiadharma fuels the gap between early and later-stage startup investments through Prasetia.

4 mins

Why ASEAN's Gig Economy is Key to Winning the Digital Banking War

ASEAN’s gig economy was in its nascent stages in 2018 when a KellyOCG report found that most hiring managers were using freelancers to save costs, drive innovation, and keep a competitive advantage.

4 mins

The Friendly Assassin

David Vélez SET OUT TO KILL OFF THE FAT FEES AND LOUSY SERVICE OF BRAZIL’S BIG BANKS. THE OPERATION SUCCEEDED BEYOND HIS WILDEST DREAMS: TODAY, HIS NO-FEE Nubank IS THE MOST VALUABLE DIGITAL BANK IN THE WORLD, WITH 35 MILLION CUSTOMERS—AND HE’S GUNNING FOR MORE.

10 mins

Gearing Up

Local EV producer Volta advances to lead Indonesia’s electric motorbike market

5 mins

CHANGING LANES

EV billionaire William Li is chasing growth overseas. His first step—entering the European market via Norway.

9 mins

Steadfast Delivery

Farian Kirana aims to grow Lion Parcel to a Rp 1 trillion company and take it public.

5 mins

Inflation Risk

As the global vaccine rollout proceeds and the post-pandemic economy recovery story gets nearer, the global market narrative about rising inflation and the risk of the U.S. economy overheating turned more mainstream.

2 mins

Healthy Start

Setting a new milestone amid the pandemic, Pyridam Farma aims to boost innovation in Indonesia’s pharmaceutical industry

5 mins

Sign Here

PrivyID provides e-signatures to simplify business process during the current COVID-19 pandemic.

3 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