Green flight: Technicians prepare a Garuda Indonesia plane for a test flight using sustainable aviation fuel on Oct. 27, 2023, at Soekarno-Hatta International Airport in Tangerang, Banten. The plane successfully landed in Adi Sumarmo Airport in Surakarta, Central Java, later that day.

Govt aims to reduce airfares by 10 percent by October

Tourism and Creative Economy Minister Sandiaga Uno said the price reduction would help regions where airline tickets were more costly than average, particularly destinations in eastern Indonesia and Sumatra.

1 year ago

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An oil and gas rig on the Offshore Northwest Java (ONWJ) Block and operated by state-owned firm Pertamina is pictured in this undated photo.

Economy premium

High oil prices put new strains on state budget

Oil prices have exceeded US$120 per barrel, double the assumption in the state budget.

3 years ago

An aerial view shows used cars for sale in Los Angeles, California, United States, on March 10, 2022. According to the Department of Labor, the price of used vehicles increased 41.2 percent since last year, despite falling 0.2 percent from last month, as inflation has hit a 40-year high.

Economy

US consumer prices hit new 40-year high

Consumer prices in the United States hit a new 40-year high last month as the world's largest economy continued to be battered by a surge of inflation that has proven to be a liability for President Joe Biden.

3 years ago

Customers browse for clothes at a shop in Jakarta on June 9, 2020.

Economy premium

Retail sales growth slows amid Omicron wave, supply issues

The retail sales index grew by an estimated 14.47 percent year-on-year (yoy) in February, but the latest reading marks the first slowdown since the index started recovering from the Delta wave in October.

3 years ago

In this file photo taken on Feb. 6, 2020, a woman balances a reed basket bearing her child on her head as she queues with fellow villagers for food rations at a village in Ayod county, South Sudan. Countries in sub-Saharan Africa are among the most vulnerable to food insecurity as inflation soars following the Ukraine crises.

Economy

Ukraine war-related inflation may drive protests and riots, World Bank warns

The conflict could exacerbate existing food security concerns in the Middle East and Africa.

3 years ago

The office of the Indonesian Life Insurance Association (AAJI) in Jakarta is shown in this undated photo.

Economy premium

Life insurance industry posts 12% sales growth in 2021

The Indonesian life insurance industry will aim high in 2022, banking on the significant improvement last year and stronger economic recovery.

3 years ago

People look at second-hand and new clothes sold at the JakCloth festival in Jakarta on May 1, 2021.

Economy premium

Consumer confidence gives back some recent gains

Bank Indonesia’s latest survey shows that Indonesians felt less optimistic in February about their future business or employment prospects.

3 years ago

A customer purchases cured meat at a food exhibition in Shanghai, China, on Jan. 26, 2019.

Economy

China inflation slowed in February as food prices eased

The producer price index rose 8.8 percent on-year, the slowest rate since June last year.

3 years ago

Visitors watch a demonstration of a bottling process at the Plastics and Rubber Indonesia 2018 Expo in Jakarta.

Economy premium

Oil price rise to impact plastic industry: Association

Plastic raw material prices have increased in the past few months as oil prices have spiked.

3 years ago

The headquarters of Spanish insurance firm MAPFRE.

Economy premium

Spanish insurer MAPFRE exits Indonesian market

The company plans to sell a 62.33 percent stake in publicly listed PT Asuransi Bina Dana Arta (ABDA).

3 years ago

In this file the World Bank headquarters are seen in Washington, DC, United States, on Jan. 10, 2022.

Economy

World Bank approves $723 million in aid for Ukraine

The fund will be used to provide critical services, pay hospital workers, fund pensions and continue social programs.

3 years ago

Low cost, high output: Young people work at the Jakarta Creative Hub workspace in Tanah Abang, Central Jakarta. Jakarta Creative Hub offers co-office and coworking spaces at affordable rents.

Economy premium

Remote working prompts changes in property industry

Many workers are expected to continue to work from outside company offices even once the pandemic subsides, forcing developers to realign their business models to stay ahead of the curve.

3 years ago

At high stakes: A cargo ship berths at a port in Lianyungang in China’s eastern Jiangsu province, on May 8. China’s exports fell more than expected in April while imports rose, official data showed on Wednesday, ahead of high-stakes talks aimed at resolving a trade war with the United States.

Economy

China exports up 16.3% as trade with Russia surged

The growth rate exceeded economists' expectations of a 15.7 percent gain from a year earlier.

3 years ago

A citizen looks up information of the Kartu Prakerja reskilling program in Jakarta on April 20, 2020.

Economy

Asian workers pushed to upskill as pandemic quickens digital shift

Countries including India, Singapore and Malaysia are setting up skilling programs and offering tax incentives and cash subsidies to boost learning in sectors such as IT, healthcare and green economy.

3 years ago

Two Indonesian vendors wearing face masks wait for customers at a traditional market in Jakarta on March 19, 2020. Wholesale and retail trade accounts for nearly 40 percent of the whole service workforce.

Economy premium

COVID-19 pulls more workers into low-paying service sector jobs

The jobs include those in wholesale and retail trade, accommodation and food service activities and transportation and storage.

3 years ago

Food security in Indonesia is most often understood as self-sufficiency in rice production, despite the country’s diverse range of food sources.

Economy premium

Surging import costs hit food industry

Confronted with high global commodity prices, many Indonesian food and beverage companies have begun to ask more for their products.

3 years ago

Workers make medical masks at the factory of PT Multi One Plus, Gunung Putri, Bogor, West Java, on April 15, 2020.

Economy premium

Manufacturing expansion slows in February amid surging COVID-19 cases

The manufacturing purchasing managers’ index (PMI) was recorded at 51.2 in February, down from 53.7 in January, London-based data firm IHS Markit reported on Tuesday.

3 years ago

A street food vendor fries fish in used cooking oil in Jakarta on Oct. 30, 2018.

Economy premium

Inflation eases in February as cooking oil price cools

The consumer price index rose 2.06 percent yoy in February, slightly slower than a month earlier.

3 years ago

Workers head home after a day's work on Jl Jenderal Sudirman in Jakarta on April 16, 2020.

Economy premium

A third of local professionals may resign from career rut: Survey

Local professionals perceive a lack of career growth opportunities and a poor work-life balance due to the pandemic.

3 years ago

Employees work with aluminum ingots at a factory in Huaibei in China's eastern Anhui province on Feb. 9, 2022.

Economy

China's factory growth picks up as demand improves, Ukraine crisis raises risks

Manufacturing PMI registered 50.2 in February, up a touch from 50.1 in January.

3 years ago

Hakim removes floating soybeans during the boiling process. These are of poor quality and will not be used to make tempeh. JP/ Anggara Mahendra

Economy premium

Surging soybean price hurts entire supply chains

The surging soybean price is taking a toll on supply chains in Indonesia’s food and beverage industry amid the country’s heavy reliance on imported soybeans.

3 years ago

A handout picture provided by the Saudi Royal Palace on Thursday, shows Saudi Crown Prince Mohammed bin Salman attending a video meeting with the Shura council in the capital Riyadh.

Economy

Saudi Arabia confirms commitment to 'OPEC Plus' deal with Russia

Crown Prince Mohammed bin Salman made the comments during a conversation with French President Emmanuel Macron that also covered the situation in Ukraine and its impact on the energy markets, said the agency.

3 years ago

People hold signs and participate in a protest in Grand Central Station in Manhattan, New York, United States, against war in Ukraine on Feb. 19, 2022.

Economy premium

Indonesia's economy relatively insulated from Ukraine crisis

The war will have little direct impact on the Indonesian economy and capital markets, but investors remain wary of the many indirect effects of the crisis.

3 years ago

The environment matters: An aerial photo shows an oil palm plantation in Bulutumbang, Belitung. Maintaining environmental sustainability and community well-being is vital to achieving a sustainable palm oil industry.

Economy

Transparency key to competitive palm oil industry

Experts say that data transparency will help resolve the trade spat with the European Union and the cooking oil scarcity in Indonesia, among other industry-related problems.

3 years ago

United Kingdom Secretary of State for International Trade Anne-Marie Trevelyan speaks to Indonesian Trade Minister Muhammad Lutfi at a press conference on Feb. 23, after the first meeting of the Joint Economic and Trade Committee (JETCO).

Economy premium

Indonesia, UK seek stronger economic ties with first JETCO meeting

At their first Joint Economic and Trade Committee (JETCO) meeting, Indonesia and the United Kingdom agreed to enhance trade and investment in food and beverages, agriculture and renewable energy.

3 years ago

Officials inspect the main venue of the G20 finance ministers and central governors meeting during the preparations in Jakarta on Feb. 17, 2022.

Economy premium

Uneven global recovery haunts G20 economic chiefs first meeting

The Group of 20 finance ministers and central bank governors’ meeting discussed a wide range of major economic issues, including the spillover from the Ukraine crisis and the need for a regulatory framework on crypto assets.

3 years ago

Officials inspect the main venue of the G20 finance ministers and central governors meeting during the preparations in Jakarta on Feb. 17.

Economy premium

Maneuvering economic recovery amid geopolitical tension

As the rotating chair and host of Group of 20 (G20) this year, Indonesia plays an important role in leading the world’s agenda as many global problems needs to be addressed as part of the global post- COVID-19 recovery efforts.

3 years ago