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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

Hello Hear her TJP

Hello Hear her TJP ...

1 year ago

Finance

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1 year ago

The Latest

Finance Minister Sri Mulyani Indrawati delivers remarks after the signing of a memorandum of understanding on a program to accelerate and digitize regional government transactions at the Office of the Coordinating Economic Minister in Jakarta on Feb. 13, 2020.

Economy premium

Indonesia plans to slash COVID-19 stimulus by 44% next year

The government is planning to allocate Rp 414 trillion for COVID-19 stimulus spending next year, down 44.35 percent from this year’s budget, as the economy remains on the mend.

3 years ago

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

Economy premium

BI to stay dovish until late 2022, but no more rate cuts

The stance balances between muted inflation in Indonesia and the Fed's accelerated tapering plan.

3 years ago

Economy premium

BI forecasts GDP to grow 4.7-5.5% in 2022

The forecast marks an improvement from this year’s slower than expected growth due to the Delta wave of COVID-19.

3 years ago

The entrance of a Fitch Ratings office in Paris is pictured on Aug. 8, 2011. The firm expects Indonesia's GDP to grow nearly 7 percent next year.

Economy premium

Fitch affirms Indonesia’s debt rating, praises jobs law, tax law

The rating agency is more positive than the government about the fiscal deficit and expects GDP growth around 6 percent for years to come.

3 years ago

United States (US) President Joe Biden addresses the 76th Session of the UN General Assembly in New York, US, on Sept. 21.

Economy

US marshals other nations, challenges OPEC+ with release of oil reserves

India and Japan have announced commitments to release oil, but not South Korea and China.

3 years ago

This general view shows the 508-meter tall Taipei 101 commercial building in Taipei on July 16, 2021.

Economy

China warns Taiwan firms against 'backing independence'

China warned Taiwanese firms against supporting the island's independence, hours after state media said a Taiwanese conglomerate was fined by mainland regulators as tensions flare between Taipei and Beijing.

3 years ago

Economy

William Tanuwijaya named 2021 Businessperson of the Year

William Tanuwijaya, founder and CEO of leading technology company Tokopedia, has been named one of Fortune Indonesia’s 2021 Businesspersons of the Year.

3 years ago

Economy

Asia Pacific Rayon unveils ambitious 2030 sustainability agenda

Asia Pacific Rayon (APR), Indonesia’s largest integrated viscose rayon producer, has launched its ten-year sustainability vision, APR2030.

3 years ago

Finance Minister Sri Mulyani Indrawati (left) and Deputy Finance Minister Suahasil Nazara (right) show reporters electronic receipts on their mobile phones after filing their tax returns in Jakarta on March 10, 2020.

Economy premium

Tax incentives to cost state more than budgeted

The measures are meant to alleviate the economic pressure on businesses and employees during the pandemic.

3 years ago

A man shops for items on a street in Hong Kong, China, on May 17, 2021.

Economy

China to step up support for hard-pressed small firms

Small businesses are vital for growth and jobs but been hit harder by the COVID-19 outbreak.

3 years ago

A ship unloads containers in the harbor of Cape Town, South Africa, in July 2021.

Economy

Supply crisis spurs South Africa retailers to end Asia reliance

Spiraling shipping costs and COVID-19 supply chain disruptions are accelerating a shift by South African retailers to end their heavy reliance on Asia and move to source products locally.

3 years ago

People cross a street in Melbourne, Australia, on Oct. 11, 2021.

Economy

Australia to further relax international border restrictions: Media

Australia may on Monday unveil a further easing of its international border restrictions to allow the return of skilled migrants and students as businesses struggle to fill jobs during its COVID-19 recovery.

3 years ago

Finance Minister Sri Mulyani Indrawati explains the new Harmonized Tax Law (HPP) to the public and business associations in Nusa Dua, Bali on Nov. 19, 2021.

Economy premium

Lower budget deficit to help Indonesia face global risks in 2022

The government expects Indonesia’s state budget deficit for this year to be much smaller than expected, bolstering the country’s fiscal strength as policymakers anticipate new global economic risks next year that could undermine financial system stability.

3 years ago

People leave the Bank Indonesia headquarters in Central Jakarta on Feb. 26, 2020. Observers have asked the central bank to anticipate a situation similar to the 2013 “taper tantrum” as the US economy recovers this year.

Economy premium

BI holds benchmark interest rate at 3.5%

Bank Indonesia has kept the seven-day reverse repo rate at 3.5 percent amid expectations of muted inflation and relatively low capital flight risk.

3 years ago

US President Joe Biden addresses the 76th Session of the UN General Assembly in New York, United States, on Sept. 21.

Economy

US asks Japan, China, others to consider tapping oil reserves: Sources

The move reflects US frustration with OPEC+ members who have rebuffed repeated requests from Washington to speed up their production increases.

3 years ago

Economy

GoTo holds first-ever MSME conference to bolster local businesses

GoTo held its first-ever conference for micro, small and medium enterprises (MSME) on the weekend as part of its #BangkitBersama (Rise Together) initiative.

3 years ago

Economy premium

Indonesia’s internet economy to reach $70 billion in 2021

The gross merchandise value (GMV) of the country's digital economy has seen double-digit growth while the overall economy was brought down by the pandemic.

3 years ago

Export commodity: Workers load palm fruit bunches to be processed into crude palm oil and kernel for export at PT Indo Sawit Subur Riau’s factory in this file picture.

Economy premium

Indonesia's export, trade surpluses hit record high again in October

Export and trade surpluses rose to a record level in October, supported by surging commodity prices, especially coal and crude palm oil.

3 years ago

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

Economy

China industrial output, retail sales beat expectations in October

Industrial output grew 3.5 percent annually and retail sales 4.9 percent annually that month.

3 years ago

A container ship from MSC leaves while another one from NYK Line is docked in the port of Tokyo on Nov. 4, 2021.

Economy

Japan's economy contracts for first time in two quarters

GDP shrinks more than expected in third quarter as supply shortages hit industries and as business and consumer spending declines.

3 years ago

A batik seller speaks to a customer at a traditional market in Yogyakarta in this undated file photo.

Economy premium

Informal employment remains stubbornly high despite slight improvement

While the proportion dropped slightly in August, informal arrangements still account for 59.45 percent of overall employment, which means most workers lack social security and decent pay.

3 years ago

Work continues on the construction of the WWTP B1 wastewater treatment plant in Makassar, South Sulawesi, on Nov. 9, 2021.

Economy premium

Makassar to get first wastewater treatment plant in eastern Indonesia

The Rp 1.07 trillion (US$75 million) pilot project supported by the Asian Development Bank is to tackle water pollution.

3 years ago

Workers assemble cars at a factory. A number of carmakers eye higher exports this year, targeting Southeast Asian and Middle Eastern markets.

Economy premium

Car sales rise 68% in October on extended tax cut, eased curbs

The carmakers association aims to sell 850,000 cars domestically this year, up from 530,000 last year.

3 years ago

Investment Minister Bahlil Lahadalia delivers a presentation about investment realizations in the third quarter of 2021 on Oct. 27.

Economy premium

Govt hopes to realize $45 billion worth of UAE deals by 2024

The investment deals were secured during President Jokowi's recent visit to the UAE.

3 years ago

Economy

#BangkitBersama Makes its Way to Surabaya, Empowering Local MSMEs

After the national launch of the #BangkitBersama (#RiseTogether) campaign in September, homegrown tech giant GoTo has now launched the program in Surabaya to help local micro, small and medium enterprises (MSMEs) rise again from the pandemic-induced slump and propel their products to prominence in the domestic market.

3 years ago

A stage director looks on at the IMF/World Bank Annual Fall Meetings Plenary Session in Washington, DC, on October 18, 2019.

Economy

World Bank aims to replace canceled 'Doing Business' report in two years

World Bank chief economist Carmen Reinhart said the new report would be more transparent about underlying methodologies.

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

Chinese exports solid in October as COVID-19 eases overseas

The data from the world's second-largest economy also suggested that Chinese factories had kept the goods flowing out despite power outages in recent months caused by emission reduction targets, the surging price of coal, and supply shortages.

3 years ago

Virtual summit: Leaders of ASEAN and its strategic partners are seen on a screen as they attend the fourth Regional Comprehensive Economic Partnership Summit as part of the 37th ASEAN Summit held online from Hanoi on Nov. 15.

Economy premium

15-member RCEP trade deal to take effect in January

The 15-member RCEP -- the world's largest free trade agreement despite the absence of the United States -- will be Japan's first economic partnership agreement involving both China and South Korea.

3 years ago

Australian Foreign Minister Marise Payne

Economy

Australia joins New Zealand to ratify regional trade pact RCEP

The deal is the world's largest trade pact, representing about 30 percent of the global population and gross domestic product.

3 years ago

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

Economy premium

Global public debt remains at record-high levels in 2021: IMF

About 90 percent of that increase came from advanced economies, plus China, with emerging and developing economies far less able to access financial markets for their spending needs, and also more vulnerable to possible interest rate rises, Vitor Gaspar, the IMF's head of fiscal policy, told Reuters in an interview.

3 years ago

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