Business owners from Bali share their views on the state of the industry and whether there has been any trickle-down effects from the Group of 20 events throughout the year.

Germany's biggest trade union agreed Friday on wage hikes totaling 8.5 percent that are expected to cover almost 4 million workers facing soaring inflation, averting a major strike in Europe's top economy.

A recently announced international climate financing deal will kick-start Indonesia’s efforts to wean itself off coal-fired power plants, though the country must manage its debts and the program prudently, experts have said.

In a bilateral meeting with his Chinese counterpart at the Group of 20 Summit in Bali, President Joko “Jokowi” Widodo highlighted the immense significance Indonesia attributes to its cooperation with Asia’s economic powerhouse.

Bank Indonesia has decided to raise its benchmark rate by another 50-point basis (bps) in a move to bring down domestic inflation and to safeguard rupiah from depreciating even further against US dollar.

Indonesia has attracted new investment into the electric vehicle (EV) sector, coinciding with the Group of G20 forum, where global leaders and businesses agreed on commitments to lower carbon emissions.

Business representatives have urged the government to retain the existing minimum wage formula that will result in a much-limited raise in 2023, opposing demands from workers for the government to return to its previous wage calculation.

The Kadin chairman emphasizes that both businesses and world leaders need to put people first in contributing to world peace.

Three countries have signed a memorandum of understanding (MoU) with Indonesia to participate in the expansion of Jakarta’s mass rapid transit (MRT) mega-project and to partake in developing other transportation constructions in Indonesia.

Business initiatives conducted throughout the year under the Group of 20 framework have culminated in a series of investment agreements presented at the Business 20 (B20) Summit on Monday.

Indonesia’s trade balance experienced an unanticipated bump in October as demand from the country’s largest Asian trading partners increased and imports of capital goods fell.

Indonesia's economy remains solid amid higher global uncertainty. It grew by 5.72 percent in third quarter of the year compared to the same period last year, exceeding the growth in the second quarter of 5.44 percent. This growth is mainly supported by export performance and household consumption.

A coalition of countries will mobilize $20 billions of public and private finance to help Indonesia shut coal power plants and bring forward the sector's peak emissions date by seven years to 2030, the United States, Japan and partners said on Tuesday.

Rich nations have stuck to pledges to phase out coal power despite the energy crunch in the wake of the Ukraine war but China's expanding coal fleet risks counteracting the climate impact of the closures, a report said on Tuesday.

Concluding the Business 20 (B20) forum for this year, the Indonesian Chamber of Commerce and Industry (KADIN) said agreements achieved had improved the image of Indonesian business.

Food insecurity has become one of the most talked about issues on the global stage as the staple food supply chain continues to be disrupted by the war in Ukraine. Experts argue that tempeh and cassava could be the answer to the problem.

China have signed a US$2.6 billion worth of commitment to purchase crude palm oil (CPO) and its derivative products from Indonesia, allowing the archipelagic country to secure a trade boost from its number-one trading partner amid global recession.

The Transportation Ministry has ensured the smooth arrangement of regular domestic and international flights at Ngurah Rai Airport, Bali during the G20 Summit as delegates from 35 countries converge in Bali.

In the run up to the 2022 Group of 20 Summit in Bali, the Transportation Ministry has held a simulation of an electric bus service to support the mobility of G20 delegates and participants, together with the Foreign Ministry.

In highlighting the G20's achievements in the health sector, the Indonesian health minister pointed to the large potential for health investments as regards the country's massive population.

Infrastructure investment is not enough to move the country forward, President Joko “Jokowi” Widodo told The Jakarta Post in an exclusive interview earlier this month.

President Joko “Jokowi” Widodo envisions public transportation renewal across Java in a bid to attract consumers away from private car purchases.

Indonesian palm oil producers are optimistic they can overcome the challenges presented by China and India’s transition toward sustainability, as experts stress the importance of having the country’s local sustainability standards recognized globally.

Tens of thousands of jobs lost in West Java alone are a stark reminder that Indonesia is far from immune to global economic turmoil as exporters report plummeting orders from the United States and Europe. 

Nearing the end of the year, employers and workers have yet to reach an agreement on the 2023 minimum wage hike as both sides differ on the factors used to reach the final figure.

Indonesia’s banking industry is poised to book stronger loan growth next year despite a weaker global economic projection and increased risk of recession, reflecting resilience in the domestic economy.

The release of Indonesia's economic data this week raises hopes for continuing recovery and a strong performance in the last quarter of 2022. Despite Q3 growth moving at a slower pace than Q2, we need to note that growth of 5.72 percent was achieved even after the government increased fuel prices in early September.

Crude palm oil (CPO) prices are unlikely to fall back to recent lows next year as production levels off, according to experts, but a number of global uncertainties complicate the outlook.

Amid concerns over global economic activity and reduced cross-border trade, Indonesia has posted another solid GDP reading, setting the country apart from many others ahead of the Group of Twenty (G20) Summit to be hosted in Bali this month.

Joined by United States Ambassador to Indonesia Sung Kim and Canadian Ambassador Nadia Burger, Airlangga visited the Batam Aero Technics (BAT) facility at Hang Nadim International Airport and Nongsa Digital Park (NDP), two special economic zones set up on the island.