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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Bank Indonesia (BI) headquarters in Jakarta on May 8, 2014.

Economy premium

Bank Indonesia holds rate at 3.5% in December

BI decided to hold the rate at a record low of 3.5 percent in December but might raise rates sooner than expected in response to the Fed's more aggressive monetary stance.

3 years ago

US Federal Reserve chairman Jerome Powell testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill in Washington, DC, on July 15, 2021. As rising prices and the spread of new COVID-19 variants increase risks to the US economy, Federal Reserve officials are expected to maintain their easy money policies.

Economy

Fed signals three rate hikes in the cards in 2022 as inflation fight begins

The Fed Chair said that inflation was uncomfortably high, and progress was being made towards maximum employment.

3 years ago

The South Quarter multi-purpose complex in Lebak Bulus, South Jakarta, is one of dozens of constructions in the country certified by the Green Building Council Indonesia.

Economy premium

Green building industry needs nudge from regulators

Funding is not the issue, but the green building industry could benefit from more supportive rules to increase market demand, experts say.

3 years ago

Coal boom: Coal barges wait to be pulled along the Mahakam River in Samarinda, East Kalimantan on Aug. 31, 2019. A boom in primary commodities such as coal helped Indonesia’s exports grow in the third quarter of this year.

Economy premium

Exports hit record high for third month in row in November

Exports grew 49.7 percent yoy to US$22.84 billion in November, according to Statistics Indonesia (BPS).

3 years ago

Economy

E-commerce adoption boosts Central Java MSME transactions 1.5-fold

As the pandemic has driven much of the world online, consumer habits too have shifted accordingly.

3 years ago

The drinking water system development project site in Umbulan Pasuruan in East Java as pictured last Thursday. The project is being developed by private consortium PT Meta Adhya Tirta Umbulan, which is a joint venture between private gas firm Medco Gas Indonesia and private construction firm Bangun Cipta Kontraktor.

Economy premium

Govt to focus PPPs on urban infrastructure in 2022

The public-private partnerships (PPPs) will focus on developing facilities related to drinking water, waste management, housing, healthcare, gas distribution, urban transportation and the new capital city.

3 years ago

People are pictured shopping at Hema Supermarket, part of Alibaba Group, in Shanghai, China. In China, Hema is a digitized retail store that allow consumers to buy food, eat in or order home delivery.

Economy

China's retail sales growth eases, factory output picks up

Economists said a recent COVID-19 flare-up, which triggered fresh containment measures, likely led to more cautious consumer behavior.

3 years ago

Vehicles drive past an electronic billboard (top left) showing COVID-19 coronavirus related images as they crowd a main road leading out of the capital during the early evening rush hour in Jakarta on November 30, 2021.

Economy premium

Majority of affluent Indonesians plan to retire early

A recent survey shows that 58 percent of affluent Indonesians plan to retire early, and four in five have started saving or investing to make it happen. This contrasts with the reality faced by the average Indonesian.

3 years ago

Come back, soon: A woman walks past a fashion outlet at a shopping mall in Serpong, Tangerang, Banten, in June 2020. The mall offered strong discounts to attract customers.

Economy premium

Retail sales rebound in November to pre-Delta level

The retail sales index hit 199.7 in November, the highest level since May, the month before the Delta wave took hold of the country.

3 years ago

Bank Indonesia governor Perry Warjiyo (left) and Finance Minister Sri Mulyani Indrawati (right) give a statement on the start of the Finance Track in Indonesia's G20 presidency in Bali on Dec. 9.

Economy premium

Indonesia sets six priority agendas for G20 Finance Track

The six agendas will set the tone for talks among the world's largest economies for a year.

3 years ago

The chairman of Indonesia’s Hotel and Restaurant Association (PHRI), Hariyadi B. Sukamdani, talks to the press on the impact of the coronavirus epidemic on tourism in Jakarta on March 12, 2020.

Economy premium

Apindo expects 4-5% economic growth in 2022

The Indonesian Employer Association (Apindo) expects the country’s economic growth to pick up to between 4 and 5 percent in 2022, while inflation remains lower than 3 percent.

3 years ago

Police personnel stop a motorcycle rider that gets in the dedicate Transjakarta bus lane during a traffic raid in Jl. Sultan Agung in Manggarai, South Jakarta on Feb. 6, 2020.

Economy

EVs and 'compact’ city combo could reach emissions targets: Study

From Paris to Jakarta, cities around the world are pushing public transportation and electric vehicle (EV) adoption to cut down transportation sector emissions.

3 years ago

President Jokowi inaugurates Tebelian Airport on Wednesday.

Economy premium

Jokowi inaugurates airport in West Kalimantan's Sintang

The new Tebelian Airport replaces Susilo Airport, which could not be developed further as it was located in the city center, surrounded by residential areas.

3 years ago

A Rolls-Royce Boat Tail is shows at the company's Goodwood headquarters near Chichester, southwest England, on May 27, 2021. Rolls-Royce Motor Cars, roaring back from the pandemic with record sales, launched that day the

Economy

Billionaires' share of global wealth soars during pandemic

The share of global wealth of the world's richest people soared at a record pace during the COVID pandemic, a report on inequality shows.

3 years ago

Cash flow: Bank Mandiri employees mark packets containing Rp 100,000 (US$7.10) banknotes at the state-owned bank’s cash center in Jakarta on March 20, 2020.

Economy premium

Loan, deposit growth to beat forecast this year: Bank Mandiri

State-owned publicly listed Bank Mandiri has noted further improvements in the banking sector, prompting the bank to expect loan and deposit growth to exceed its own latest forecast at 3 and 8 percent, respectively

3 years ago

Cowboy Dionatao Euzebio, 26, leads a herd of cattle to designated pastures as part of a technical manoeuver to reduce the needed area for the animals at the Marupiara farm located at the city of Tailandia, Para state, Brazil, on Sept. 18, 2021.

Economy

Brazil keen to boost halal foodstuff exports

Brazil is in talks with Indonesia, Lebanon and Morocco to access their markets and sell agricultural products other than corn, beef, chicken and raw sugar.

3 years ago

Economy

Jakarta Fashion Hub poised to drive Indonesia’s creative economy

After its introduction in 2020, the Jakarta Fashion Hub (JFH) collaborative space was formally inaugurated by Tourism and Creative Economy Minister Sandiaga Uno on Saturday.

3 years ago

Rolled euro bills are placed on US dollar bills in this illustration taken May 26, 2020.

Economy premium

Moody’s, Fitch highlight Indonesia’s low revenue as risk for debt rating

The credit rating agencies expect the recently passed Harmonized Tax Law to help with fiscal consolidation by 2023, but not to significantly raise state revenue.

3 years ago

Participants gather in the lobby ahead of an informal meeting between members of the Organization of Petroleum Exporting Countries (OPEC) in Algiers, Algeria, on Sept. 28, 2016.

Economy

Top oil producers may freeze output amid Omicron concerns

The emergence of the new variant has led countries to reinstate travel bans and mull further restrictions, which could tighten demand and hurt oil prices.

3 years ago

Economy

Trade minister sends off APR viscose rayon products for domestic, global markets

Trade Minister Muhammad Lutfi symbolically sent off a shipment of viscose rayon products produced by Asia Pacific Rayon (APR) intended for the domestic and global market on Wednesday.

3 years ago

A pedestrian walks in front of a restaurant on Jl. Sabang in Central Jakarta on Jan. 8. The government has ordered regional administrations across Java and Bali to reimpose full large-scale social restrictions (PSBB) from Jan. 11 to 25 to curb the spread of COVID-19.

Economy premium

Omicron variant casts shadow over Indonesia's economic recovery

The "very high" risk variant of COVID-19 has rekindled concerns of fresh lockdowns and higher emergency relief spending.

3 years ago

People walk along the link bridge to a terminal at Changi International Airport in Singapore on Nov. 18, 2021.

Economy premium

Inflation rises to year-high 1.75 percent in November

Rising food prices and transportation fees drove inflation to 1.75 percent in November, Statistics Indonesia (BPS) data show.

3 years ago

Economy

One year on: APRIL Group records milestones with APRIL2030 commitment

One year after launching its APRIL2030 commitment in November 2020, sustainable pulp and paper producer Asia Pacific Resources International Limited (APRIL Group) has recorded several milestones in its contribution to sustainability and carbon neutrality.

3 years ago

A worker transports products at a Goodyear Indonesia factory, in this undated photo.

Economy premium

Manufacturing recovery continues, albeit more slowly

The manufacturing PMI stayed in positive territory in November, despite declining from the all-time high recorded in October.

3 years ago

Police check the details of drivers in the small regional town of Kilmore, some 60 kilometers north of Melbourne, on Sept. 10, 2021, to prevent residents of locked-down Melbourne from travelling to COVID-free regions to reduce the transmission of the delta variant of coronavirus.

Economy

Lockdowns cause Australian economy to shrink

Lockdowns and border controls shrank Australia's economy by 1.9 percent in the third quarter, official statistics showed Wednesday, a decline more modest than expected but worse than in many other wealthy nations.

3 years ago

A man takes a selfie on Lovina Beach in Bali on July 3, 2020.

Economy premium

Tourism recovery faces setback amid fresh COVID-19 scare

The Tourism Ministry plans to reevaluate international reopening plans for Bali and the Riau Islands due to concerns over the emerging Omicron variant of COVID-19.

3 years ago

Robotics and automation are a major part of the WEY assembly line at the WEY factory in Baoding, China, pictured above on May 18.

Economy

China factory PMI in November unexpectedly grows as supply snags ease

The manufacturing PMI grew for the first time in three months as raw material prices fell and power rationing abated.

3 years ago

Federal Reserve chairman Jerome Powell holds a news conference following the two-day meeting of the Federal Open Market Committee (FOMC) meeting on interest rate policy in Washington, US, on Wednesday, Jan. 29, 2020.

Economy

Fed's Powell warns Omicron poses risks to US economy

While the US economy has "continued to strengthen," the resurgence of the pandemic has dragged on the recovery, starting with the arrival of the Delta variant over the summer, he said.

3 years ago