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WASHINGTON, DC – On December 19, 2022, the World Bank’s Board of Executive Directors approved a US$400 million loan to support the Government of Indonesia in protecting an estimated 6.3 million people in cities across Indonesia from damage caused by flooding and in bolstering national flood resilience management. The National Urban Flood Resilience Project (NUFReP) will help cities reduce the flood risk by increasing national and city-level flood risk management capacity and through investments for integrated urban flood risk management. It will also support the government in establishing and operationalizing a national urban flood resilience program. Floods have had caused…

EDITOR’S NOTE: Please be advised that this Jakarta travel guide hasn’t been updated in 2024. Prices and travel guidelines may no longer be accurate so it’s important that you verify any information before proceeding. When people talk about the most interesting destinations in Indonesia, Jakarta is rarely in the conversation. Like my home city of Manila, it’s mostly glossed over and treated as a pitstop rather than a destination. When I was doing research for this trip, I was trying to figure out how best to allocate our two weeks in the country. We were arriving via Jakarta but I…

Indonesia sees spike in 5G smartphones despite low network coverage.(Source – Shutterstock)Shipments involving 5G smartphones in Indonesia rose 159% YoY in Q2 2022, led by Samsung, OPPO, vivo and Xiaomi.Counterpoint said that 5G smartphones come with better, newer specifications to support the latest connectivity technology, overall making them a better offering than a 4G smartphone in the same price segment. In Indonesia, the 5G technology has only been introduced to and adapted in limited locations over the past year, placing the ASEAN’s biggest economy pretty low in the chart of fifth-generation technology adoption within the region. Despite the government boasting about…

OCBC Indonesia has selected Cloudera to help achieve their vision of becoming a digital-first bank in Indonesia and provide better banking experiences for their customers. Cloudera hybrid platform To deliver real-time, intelligent, and personalised recommendations to customers, OCBC Indonesia’s growing in-house data science team required a hybrid strategy for data analytics, and AI that would integrate seamlessly with the bank’s data lake. Through the partnership, OCBC Indonesia can maximise generative AI solutions and data management, analytics, and AI capabilities of the Cloudera hybrid platform. Adding value to customers Komang Artha Yasa “OCBC Indonesia believes that adopting technology will add value…

Jakarta – Prime Minister Fumio Kishida and Indonesian President Joko Widodo agreed Thursday to step up bilateral cooperation in fields such as maritime security, green energy and infrastructure development. In a joint statement on comprehensive strategic partnership released after their meeting in Jakarta, the leaders affirmed the expanded partnership will “place greater emphasis on concrete cooperation for the benefit of the two countries and beyond, including in new areas of common interest.” At the talks, held on the fringes of three days of summits related to the Association of Southeast Asian Nations (ASEAN) from Tuesday, the leaders pledged to work…

The integrity and compliance role has been expanded and challenged more than ever due to escalated integrity issues. Association of Certified Fraud Examiners estimates that organizations lose 5% of revenue–or equals to more than $4.7 trillion – to fraud each year. Financial Action Task Force predicts the cost of money laundering per year reaches 2-5% of the world’s gross domestic product–or equals to $800 billion to $2 trillion. Meanwhile, The World Economic Forum counts $2.2 trillion–nearly 3% of the world’s economy are leaked to illicit trade.   Other contributing factors are the prolonged COVID-19 pandemic that pushed businesses to adopt hybrid…

A police officer talks with tourists in front of the Bali Bomb Monument in Indonesia in 2016. Photo by Reuters Indonesia recorded the biggest improvement in this year’s travel and tourism development index, rising 14 places against 2019, the year before the onset of the Covid pandemic. Such dramatic improvement puts Indonesia ahead of neighbors like Malaysia, Vietnam, the Philippines and Thailand, according to the biennial ranking released on Tuesday by the World Economic Forum.Most Southeast Asian countries have witnessed a fall from 2019, with Malaysia and Thailand down seven and six places to 35th and 47th respectively.The index measures…

peeding up the quality of education, one of Indonesia’s development priority programs, can be quite challenging amid the increasingly dynamic and diversified environment.Spurred by digital adoption following the COVID-19 pandemic, with live streaming gaining ground, educational transformation is taking place in Indonesia. In contrast to passive learning, which is a far more teacher-centered learning method, active learning, which encourages student participation, has become an increasingly preferred option, especially when related to producing superior human resources for the future. Therefore, it is of paramount importance to use technology in education that not only solves the current challenges but also provide additional…

MANILA: The Philippines and Indonesia moved to bolster cooperation in energy and security during Indonesian President Joko Widodo’s visit to Manila. Widodo and Philippine President Ferdinand Marcos Jr witnessed the signing of a memorandum of understanding to deepen bilateral relations on energy, according to live-streamed proceedings. “Our countries create a new synergy as we cooperate to achieve energy security,” Marcos said in a briefing with Widodo, who’s commonly known as Jokowi, after their bilateral meeting in Manila on Wednesday (Jan 10). The Philippines gets the bulk of its imported coal from Indonesia and Manila secured Jakarta’s assurance last year on…

Indonesia recently released new cybersecurity rules for the financial sector, including banks, insurance companies, and other financial services providers. The new rules developed by the Financial Services Authority (OJK) are Indonesia’s first dedicated cybersecurity rules specifically for the financial sector. The OJK explained the rules in a circular titled Nomor 29/SEOJK.03/2022 (SEOJK 29) dated December 27, 2022. The circular offers details on the implementation of Regulation Number 11/POJK.03/2022 concerning the Implementation of Information Technology by Banks. Find Business Support The rules cover a range of areas, including risk assessments, risk management, data protection, incident response planning, and employee capacity. They…