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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.

Economy premium

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

Finance

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1 year ago

Finance

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1 year ago

The Latest

Bank Indoensia governor Perry Warjiyo (Left) and Finance Minister Sri Mulyani Indrawati (Right) gave a statement on the start of Finance Track in Indonesia's G20 presidency in Bali on Thursday, December 9 2021.

Economy

G20 vows careful post-pandemic recovery: Indonesia

Some central banks, including in the United States, are moving towards hiking rates and withdrawing stimulus as economies rebound strongly from Covid-induced downturns and inflation surges.

3 years ago

Former Bank of Mexico Governor Agustin Carstens speaks at the Bank of England's 'Independence 20 years on' conference in London, UK, on Sept. 29, 2017.

Economy premium

Indonesia's G20 agenda on point to foster global recovery: BIS

Bank for International Settlements (BIS) general manager Agustín Carstens said the Indonesian presidency of this year’s Group of 20 (G20) managed to capture the challenges facing countries amid the global recovery.

3 years ago

Travelers walk through the international arrivals hall at Ngurah Rai International Airport in Tuban near Denpasar, Bali, on Feb. 16, 2022, after a Singapore Airlines flight arrived following a nearly two-year break due to COVID-19.

Economy

Bali welcomes back tourists with first international flight

Bali began a tentative re-opening to foreign tourists on Wednesday with the first international passenger flight to the Indonesian holiday island in nearly two years.

3 years ago

Economy premium

Bank Indonesia expects 10% rise in annual LCS transactions

The central bank expects transactions using local currency settlement (LCS) facilities to rise after implementing them with major trading partners China, Malaysia, Thailand and Japan.

3 years ago

Economy premium

Cloud computing could add $10 billion to GDP: PwC

Cloud computing technology could increase Indonesia's gross domestic product (GDP) over the next five years and spur other trickle-down benefits.

3 years ago

US Treasury Secretary Janet Yellen addresses the US Conference of Mayors winter meeting in Washington, DC. on Jan. 19, 2022.

Economy

Yellen to urge G20 help for developing countries to end pandemic

US Treasury Secretary Janet Yellen will urge her G20 counterparts to work towards ending the COVID-19 pandemic in developing countries and ensuring they have the resources needed to support an equitable recovery, a US Treasury official said on Tuesday.

3 years ago

Workers wearing face masks are seen on a production line manufacturing parts for trailers at a factory in Taizhou, Jiangsu, China on March 28, 2020.

Economy

China's factory inflation hits 6-month low on government curbs

The producer price index (PPI) increased 9.1 percent from a year ago in January.

3 years ago

Coal barges line up to be pulled along Mahakam River in Samarinda, East Kalimantan, on Aug. 31, 2019. The coal export ban led to a narrowing of Indonesia's trade surplus in January.

Economy premium

Indonesia sees narrowing trade surplus as coal exports down

Indonesia booked a $932.9 million trade surplus in January, around half of the surplus seen a year earlier as the coal export ban took a hit.

3 years ago

A man walks on a footbridge in the Minato district of Tokyo on Jan. 23, 2022.

Economy

Japan's economy rebounds on solid consumer spending

Japan’s economy rebounded in the final three months of 2021 as falling coronavirus cases helped prop up consumption, though rising raw material costs and a spike in new Omicron variant infections cloud the outlook.

3 years ago

Traders work on the floor of the New York Stock Exchange (NYSE) on Feb. 4, in New York City, the United States.

Economy premium

Markets tumble, oil rises on Ukraine conflict fears

Asian stock markets dropped on Monday and European ones opened sharply slower while oil prices rallied on rising tension around the Ukraine conflict.

3 years ago

Storekeepers arrange secondhand clothes at Pasar Senen in Jakarta on Jan. 25, 2018. Demand for clothing helped push retail sales higher in January 2022.

Economy premium

Retail sales see solid start in 2022

The retail sales index (RSI) improved 16 percent year-on-year (yoy) to 211.0 in January.

3 years ago

Fiscal Policy Agency (BKF) head Febrio Nathan Kacaribu speaks during a presentation in this undated photo.

Economy premium

Tax ratio target raised to 9.5% of GDP this year

The Finance Ministry is banking on the implementation of new tax rules and continued economic recovery.

3 years ago

Employees work at a factory making tofu from soybeans in Surabaya, East Java, on Jan. 20, 2022.

Economy premium

Ministry says industrial expansion sturdy despite pandemic

Manufacturing has been the largest contributor to GDP since 2010, but its proportion relative to other sectors has been declining.

3 years ago

Bank Mandiri president commissioner Chatib Basri (right) gives a presentation with Nobel laureate economist Joseph Stiglitz (center) and Columbia University professor Jeffrey D. Sachs at the 2022 Mandiri Investment Forum in Jakarta on Wednesday (9/2/2022).

Economy premium

Stiglitz, Sachs ask G20 host Indonesia to end global 'zero sum game'

Economists Joseph Stiglitz and Jeffrey Sachs say that, as a country that is 'friends with everybody', Indonesia could prevent geopolitical rivalry from getting in the way of cooperation on climate change and COVID-19.

3 years ago

Beachgoers visit a relatively empty Kuta Beach on March 3, 2020 in Bali. The island reopened to international travel last October, but only welcomed the first international flight this February.

Economy premium

Tourism industry pins recovery hopes on Q2

Indonesian hotels and restaurants are banking on better business in April, assuming that the nation's COVID-19 caseload drops by then and restrictions are eased.

3 years ago

A cargo ship berths at a port in Lianyungang in Jiangsu, China, on May 8, 2021.

Economy

China didn't buy any of $200 billion US exports pledged in deal: Study

The study found that China bought only 57 percent of the US exports it had committed to purchase under the so-called phase one trade deal.

3 years ago

Technicians assemble NC212 aircraft ordered by Vietnam in a fixed wing hangar of state-owned airplane manufacturer PT Dirgantara Indonesia in Bandung, West Java, in this undated photo.

Economy premium

COVID-19 expedites deindustrialization in Indonesia

The pandemic has led to a decline in the role of the manufacturing sector within Indonesia’s economy and, thereby, may contribute to a phenomenon known as premature deindustrialization.

3 years ago

A vendor pulls his cart with a motorcycle along a street in Surabaya on Nov. 22, 2021.

Economy premium

Economy rebounds to grow 3.69% in 2021

Indonesia’s GDP increased by 3.69 percent last year, supported mainly by a recovery in exports, investment and domestic manufacturing, while government expenditure rose strongly.

3 years ago

President Jokowi, accompanied by several Cabinet ministers, inaugurates the Binjai-Stabat section of the Binjai-Langsa toll road on Feb. 4, 2022 in Langkat, North Sumatra. Binjai-Langsa is the westernmost stretch of the Trans Sumatra Toll Road.

Economy premium

N. Sumatra-Aceh toll slated for completion in 2024

The Jokowi administration is gearing up to finish the Trans Sumatra Toll Road mega development project ahead of the 2024 general election.

3 years ago

This handout released on Jan. 18, 2022 shows a computer-generated impression of the presidential palace to be built in Indonesia’s planned new capital city in East Kalimantan.

Economy premium

Work on future capital to start in second half of year

The government must begin work on the new capital city in the second half of this year, as further postponement would jeopardize plans to make the move in 2024, according to the Public Works and Housing Ministry.

3 years ago

President Joko “Jokowi” Widodo inaugurates seven ferry ports and four ferries at Ajibata Port in Toba, North Sumatra, on Feb. 2, 2022.

Economy premium

Lake Toba gets new ferries and ports to spur tourism

The area is one of the government's five “super priority” tourism development destinations, as well as the site of a tragic boat accident in 2018.

3 years ago

The tower of the European Central Bank (ECB) main building is pictured by night showing the illuminated euro currency symbol in Frankfurt/Main, Germany, on Dec. 30, 2021.

Economy

Fresh inflation record creates headache for ECB

Inflation rose to 5.1 percent in January, the highest value since records for the currency club began in 1997.

3 years ago

Passengers wait to board an intercity train at Senen Station in Central Jakarta in 2020, as they head to their hometowns in the eastern part of Java for the new year holiday.

Economy premium

Sri Mulyani expects Omicron to little impact Q1 growth

The Finance minister said the government was unlikely to reimpose strict mobility curbs.

3 years ago

A worker unloads 3 kilogram LPG containers at a gas distribution point in Taktakan, Serang, Banten, on April 9, 2020.

Economy premium

Indonesian inflation rises to BI recovery target

The consumer price index rose 2.18 percent year-on-year in January, just exceeding the lower bound of Bank Indonesia’s target range of 2 percent.

3 years ago

Employees work at a factory making tofu from soybeans in Surabaya on Jan. 20, 2022.

Economy premium

Factory activity expands in January

Indonesia’s manufacturing purchasing managers' index (PMI) picked up to 53.7 in January from 53.5 a month earlier, staying in expansionary territory for the fifth month in a row.

3 years ago

Workers print credit cards on Aug. 10, 2012 at BNI's card division in Jakarta. The bank showed solid performance in 2021 amid improving market conditions.

Economy premium

Major banks perform well in 2021, COVID-19 policy key to 2022 growth

Three leading banks closed last year with solid performances as the economy recovered from the 2020 recession on supportive government policies.

3 years ago

Maria Tri Hartanti (right) is shown protesting in front of Prudential Tower in Jakarta in a photo uploaded on her Instagram account on Jan. 16, 2022.

Economy premium

Indonesians disgruntled over unit link insurance

A group of disgruntled unit link insurance policyholders have grabbed national media attention after holding protests at AIA, AXA Mandiri and Prudential Indonesia's offices in Jakarta.

3 years ago