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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The Latest

Investment Minister Bahlil Lahadalia witnesses an virtual signing ceremony of a memorandum of understanding for an electrical vehicle battery factory on July 28, 2021.

Economy premium

2021 investments exceed target as new policies take shape

Investments reached Rp 901.2 trillion, exceeding Jokowi's target by 0.1 percent.

3 years ago

People walk on a street in Jakarta on Jan. 26, 2022. The International Monetary Fund has revised down its economic growth forecast for Indonesia to 5.6 percent this year and 6 percent in 2023.

Economy premium

IMF lowers GDP growth forecast for Indonesia for 2022, 2023

The International Monetary Fund has revised down its economic growth forecast for Indonesia to 5.6 percent this year and 6 percent in 2023.

3 years ago

People arrive for the IMF/World Bank Annual Fall Meetings Plenary Session in Washington, DC, on October 18, 2019.

Economy

IMF slashes global growth outlook amid Omicron hit

The outlook remains beset by risks, including geopolitical tensions and a wave of price increases hitting consumers and businesses that is expected to last longer than previously expected.

3 years ago

President Joko "Jokowi" Widodo (white shirt, left) during the groundbreaking ceremony of PT Freeport Indonesia's copper smelter in Gresik, East Java, on Oct. 12, 2021.

Economy premium

Indonesia to have seven new smelters this year

The government is racing to operate 53 smelters by 2024 to meet downstreaming goals.

3 years ago

Work continues on a coastal development project in Mandalika, southern Lombok, the site of Indonesia's new world-class motorcycle racing circuit, as seen on Feb. 23, 2019.

Economy

Indonesia's prep for MotoGP in full swing

The government is racing to get all infrastructure, facilities and services ready for the MotoGP Indonesian Grand Prix 2022 slated for March.

3 years ago

Two girls sit in a pushcart as they ask for alms from passersby along a street in Jakarta on Sept. 23, 2021.

Economy premium

Undernourishment in Indonesia on the rise, FAO estimates

The Food and Agriculture Organization (FAO) estimates that the prevalence of undernourishment in Indonesia rose to 6.5 percent in 2020, while the rate of stunting among under-5-year-olds remains “very high”.

3 years ago

Students work on their assignments at an event in Jakarta in this undated photo.

Economy premium

Despite improvements, Indonesia’s digital literacy remains low

The digital literacy index improved slightly to 3.49 in 2021 from 3.46 in 2020, but remained in the “medium” category.

3 years ago

Economy premium

Bank Indonesia holds benchmark rate at 3.5%

Bank Indonesia has kept its key interest rate unchanged as it anticipates a hike in the US Federal Reserve’s rate.

3 years ago

A worker from state-owned electricity firm PLN tests an electricity meter in Jakarta on July 22, 2020.

Economy premium

Indonesia plans 24% less new electricity investment in 2022

The government has lowered its target for new investment in the electricity sector by 24 percent to $7.55 billion as some 2021 projects have yet to be concluded.

3 years ago

A man pushes a cart containing cardboard at a shopping district in Seoul on Jan. 14, 2022.

Economy

'Throwaway economy' thwarting climate goals: Report

Researchers say national climate pledges to reduce emissions focus narrowly on fossil fuel use and ignore the mounting global appetite for stuff.

3 years ago

Tourists walk along Berawa Beach in Badung, Bali, on June 19, 2020.

Economy premium

Domestic travelers ‘not enough’ to revive Bali tourism

Bali’s tourist sector has been relying on domestic travelers since the government closed the borders at the onset of the COVID-19 pandemic, but this approach has not been enough to support the industry, especially accommodation businesses.

3 years ago

A worker walks inside Tunnel 1 of the Jakarta-Bandung high-speed railway project in Pondok Gede, Bekasi, West Java, in December 2020.

Economy premium

Jakarta-Bandung high-speed railway pushed back to 2023

The government expects the Jakarta-Bandung high-speed railway project to face another setback as a result of geographical and geological obstacles hampering its construction.

3 years ago

This undated photograph shows the Oyong oil and gas rig in the Sampang Block, located in the Madura Strait off the coast of East Java.

Economy premium

SKK Migas raises investment target by 7% for 2022

The Upstream Oil and Gas Special Regulatory Task Force has set a higher target for oil and gas investment this year.

3 years ago

One of the efforts to develop new renewable energy is through the use of solar panels in Pertamina’s operational areas, here seen at the company's refinery in Cilacap, Central Java.

Economy premium

Renewables investment, energy mix misses 2021 targets

The government attributed the shortfalls to the COVID-19 pandemic and unrealistic targets.

3 years ago

Poverty trap: Women from Golomedi village in East Manggarai regency, East Nusa Tenggara, carry firewood on their way back home on April 30, 2021. The COVID-19 pandemic has increased poverty rates, but the health crisis has hit rural areas harder than urban areas.

Economy premium

Poverty rate falls to prepandemic level

Indonesia's poverty rate fell to 9.71 percent in September 2021, a level last seen in March 2020 when the country reported its first COVID-19 cases.

3 years ago

Cranes work to load and unload containers at Tanjung Perak Port in Surabaya, East Java, in an undated photo. The port, one of the country's biggest, is operated by state-owned port operator Pelindo III.

Economy premium

Trade surplus hits 14-year high in 2021

The full-year surplus amounted to US$35.34 billion amid surging commodity prices, the highest since 2007.

3 years ago

Workers sort packages at a logistics company in Hengyang, Hunan, China, on Nov. 12, 2021, a day after Singles’ Day, the biggest shopping day of the year.

Economy

China's Q4 GDP growth beats forecasts but momentum cooling

The GDP grew at its weakest pace in one-and-half years, despite beating forecasts.

3 years ago

The COVID-19 pandemic, which has hit a lot of industries hard, has also propelled the growth of Indonesia’s e-commerce platforms and lured foreign funds into the domestic capital market.

Economy premium

Investing in 2022: Omicron, the Fed and your age matter

Financial advisers agree on the need for retail investors to diversify their portfolios, but they differ on the details.

3 years ago

Yantian Port in Shenzhen in China's southern Guangdong province - pictured on June 22, 2021 - is China's largest container terminal.

Economy

China exports surge in 2021 as global demand picks up

Chinese exports surged in 2021 on solid global demand as countries reopened, official data showed Friday, bumping its overall trade surplus to a record high and providing a much-needed boost to the stuttering economy, but officials warned of headwinds.

3 years ago

Shelves that held ham products are partially empty at a grocery in Fairfax Virginia, United States, on Jan. 13, 2022, amid supply chain disruptions.

Economy

Inflation grows as worry for global CEOs: Survey

As prices have surged, inflation has soared as a worry for global executives, overtaking concerns about COVID-19 disruptions in some regions.

3 years ago

New cars are seen lined up at the Port of Los Angeles, California, United States on April 29, 2020.

Economy

Revved up US demand for used cars sends prices soaring

The global shortage of computer chips amid the COVID-19 pandemic has stalled auto manufacturing, fueling a price increase for used vehicles.

3 years ago

Four syringes and a screen displaying the word "Omicron", the name of the new COVID-19 variant, in London on Dec. 2, 2021.

Economy premium

Indonesia’s GDP seen to grow 5.1% despite Omicron threat

London-based investment bank HSBC forecasts “extremely strong” spending, “a lot of” investment and contained inflation for Indonesia this year, indicating ongoing economic recovery.

3 years ago

A pedestrian walks past the World Bank headquarters in Washington, DC, on Jan. 10, 2022.

Economy

World Bank sees sharp world growth slowdown, 'hard landing' risk for poorer nations

The World Bank has cut its forecasts for economic growth in the United States, the euro area and China and warned that high debt levels, rising income inequality and new coronavirus variants threatened the recovery in developing economies.

3 years ago

Christmas decorations liven up at a shopping mall in Jakarta on Dec. 22, 2021.

Economy premium

Holiday season lifts retail spirits, but rising prices lie ahead

Retailers predict a buildup of inflationary pressure in the first half of the year amid signs of higher input costs.

3 years ago

Chinese Foreign Minister Wang Yi (left) and Sri Lanka President Gotabaya Rajapaksa attend a sailing event on the occasion of the 65th anniversary of diplomatic relations between the two countries during Wang Yi's visit to the Colombo Port city project in Colombo, Sri Lanka, on Jan. 9.

Economy

Sri Lanka seeks Chinese debt reschedule for crashing economy

The request harks back to when Sri Lanka leased its Hambantota port to China for 99 years in 2017 after defaulting on a $1.4 billion loan to construct the port.

3 years ago

Afloat: Coal barges queue to be pulled along the Mahakam River in Samarinda, East Kalimantan, on Aug. 31, 2019. Booming prices for primary commodities like coal buoyed Indonesian exports in 2021.

Economy premium

Trade surplus to narrow in 2022 as commodity prices normalize

Indonesia will likely continue to export more goods than it imports in 2022, though the surplus will not be as big as last year, economists have forecast, as supply rises and supply chains improve.

3 years ago

Economy premium

Forex reserves more than adequate as Fed hike looms

Indonesia’s stock of foreign currency and assets is well above the threshold generally considered adequate, as traders around the world brace for monetary policy tightening in the United States.

3 years ago