TheJakartaPost

German consumer mood hits all-time low as inflation soars

The mood among German consumers has reached an all-time low, according to a key survey published Tuesday, as the war in Ukraine drives a painful wave of inflation. ...

3 years ago

Russia fails to pay debt but denies default

The announcement came on the 124th day of Russia's military intervention in Ukraine, with Western sanctions so far failing to force the Kremlin to change its course. ...

3 years ago

The Latest

Workers joined by lawyers representing various labor organizations speak to the press at the Constitutional Court on June 27, 2022, after submitting a petition for a judicial review of the 2011 Law on the drafting of laws and regulations.

Aiming at jobs law, unions attack legal basis for omnibus legislation

Organized workers have registered a petition for a judicial review of the 2011 Law on the drafting of laws and regulations, which serves as the legal framework for the controversial Job Creation Law.

3 years ago

A Wall Street sign is seen outside of the New York Stock Exchange during morning trading on June 08, 2022 in New York City, US.

US stocks fall as markets fret over interest rates

Economists are increasingly pessimistic about the potential for US policy makers to engineer a "soft landing" as central banks tighten monetary policy, reversing a after a long period of rock-bottom borrowing rates due to surging inflation.

3 years ago

Fish is auctioned at the Pasie Nan Tigo fish market in Padang, West Sumatra, in this undated photograph.

Cold storage to grow 50% as fishery firms push for export markets

The number of cold storage installations for the fishery sector is set to rise rapidly this year on increasing online orders for cool delivery and improving seafood production, but industry players need to anticipate rising installation costs.

3 years ago

The interior of state-owned lender Bank Negara Indonesia (BNI)’s Seoul branch office.

Companies

RI embassy, BNI teams up to bring SMEs to South Korea

For the annual event, BNI brought Indonesian SMEs specializing in furniture and wood products, silver wares, coffee and other food products.

3 years ago

UOB managing director Jasper Wong (left) presents the Singapore-based bank's U-Energy program on June 23.

Companies premium

UOB launches energy-efficiency financing in Indonesia

United Overseas Bank has expanded to Indonesia with a program for the financing of energy efficiency in buildings.

3 years ago

A ground staff member (left) helps to take pictures of a passenger after he disembarked from a Malaysia Airlines Boeing 738 aircraft upon its landing in Langkawi from Kuala Lumpur International Airport on September 16, 2021, as the holiday island reopened to domestic tourists following closures due to restrictions to halt the spread of the Covid-19 coronavirus.

Malaysia surpasses target of two million tourist arrivals

The Tourism, Arts and Culture Minister said the target was surpassed on June 21, with a new target of 4.5 million currently set.

3 years ago

Russia slips into default zone as payment deadline expires

Russia has struggled to keep up payments on $40 billion of outstanding bonds since its invasion of Ukraine on Feb. 24, as sweeping sanctions have effectively cut the country off from the global financial system and rendered its assets untouchable to many investors.

3 years ago

Passersby wearing protective face masks walk past a stock quotation board in Tokyo on Feb. 24, 2022.

Hong Kong stocks end morning more than 3% higher

The Hang Seng Index jumped 3.15 percent, or 684.47 points, to 22,403.53 -- its highest level since early April.

3 years ago

A woman walks out of the Shanghai Stock Exchange building in Shanghai, China, on Nov. 4, 2020.

Asian stocks buoyed by Wall Street gains as easing oil cools inflation fears

Stocks gained in Asia on Monday amid improved risk sentiment after Wall Street rebounded strongly at the end of last week as oil prices eased, tempering fears of prolonged inflation and the accompanying aggressive Federal Reserve tightening.

3 years ago

This file photo taken on April 05, 2022 shows the headquarters of Russian gas giant Gazprom's German branch Gazprom Germania in Berlin. Berlin on June 14, 2022 agreed to offer a bailout worth up to 10 billion euros (USD 10.4 billion) to Gazprom's former subsidiary in Germany, which has been placed under state control. The funds, which a government source would amount to between 9 and 10 billion euros, will be used to

EU plans for life without Russian gas amid inflation spike

A day after celebrations over setting Kyiv on the road to membership of the bloc, Friday's summit in Brussels was a sober reflection on the economic impact of Russia's invasion of Ukraine.

3 years ago

A Pelita Air Airbus A320 aircraft lands at Soekarno Hatta International Airport in Tangerang, Banten, on April 11, 2022.

Companies premium

Pelita Air to add planes, routes in push for passenger segment

PT Pelita Air Service, a small airline previously offering charter flights for Pertamina, is entering Indonesia’s air passenger market with big plans for the next five years.

3 years ago

Vendors wait for customers at a traditional market in Tangerang, Banten, on April 3, 2022.

Indonesia's financial sector needs more depth: World Bank

The World Bank has noted a lack of depth in Indonesia’s financial ecosystem when compared with developing neighboring countries, as domestic financial sector assets account for only 77 percent of GDP.

3 years ago

Climate clog: Smoke rises on Sept. 21, 2021 from chimneys at the Suralaya coal-fired power plant in Cilegon, Banten.

Indonesia delays carbon tax implementation again, 1 week before enactment

The government could delay implementing the carbon tax for a second time.

3 years ago

This picture taken on November 4, 2021 shows steam rising from cooling towers of the power generating plants in the town of Singleton, some 70km (43 miles) from Newcastle, the world's largest coal exporting port.

As Russia cuts gas, coal makes a comeback in Europe

Globally, coal is the main source of energy for electricity production, but it is also the top producer of greenhouse gases.

3 years ago

JUUL Labs Inc. Virginia tobacco and menthol flavored vaping e-cigarette products are displayed in a convenience store on June 23, 2022 in El Segundo, California. Vaping company Juul Labs said Thursday it would appeal a decision by the US Food and Drug Administration ordering all its products off the market, a move the agency said was based on safety concerns.

Regulations

US orders all Juul vaping products off the market

The decision, which Juul said it would appeal, clears the way for rival brands to increase their share of the market it once dominated.

3 years ago

Asian markets rise as recession talk tempers rate hike expectations

Global markets have been thrown into turmoil for months by a perfect storm of crises that have left observers predicting a sharp contraction, including the Ukraine war, China's lockdown-induced economic troubles, supply chain snarls and spiking energy costs.

3 years ago

Sancraft, a local MSME mentored by Dekranasda DKI Jakarta, has utilized Tokopedia to build its business.

Tech

Tokopedia, Dekranasda DKI encourages public support for local MSMEs

Celebrating Jakarta’s 495th anniversary on June 22, Tokopedia has highlighted the bestselling categories in the capital throughout the second quarter of 2022, which include Food and Beverages, Health, Household, Electronics and Automotive.

3 years ago

Japan inflation stays at seven-year high in May

The core consumer price index, which excludes fresh food, jumped 2.1 percent year-on-year in May, according to figures released by the internal affairs ministry.

3 years ago

Breeze on the bridge: A man jogs along a bridge connecting the artificial Maju Island and the Jakarta mainland at Pantai Indah Kapuk, North Jakarta, in June 2019.

Markets premium

Property market hit by inflation, global interest rates

Financial services firm Moody’s Analytics has forecast a turbulent time ahead for the domestic real estate market as the Indonesian rupiah depreciates against the United States dollar.

3 years ago

Bank Indonesia (BI) Governor Perry Warjiyo talks during a virtual press conference held after the central bank's two-day policy meeting on Jan. 21, 2021.

BI keeps rate unchanged despite expecting inflation of 4.2%

Indonesia’s central bank will not increase its benchmark seven-day reverse repo rate (7DRRR) nor its lending or deposit facility rates, even though it anticipates full-year inflation slightly above its target range.

3 years ago

Global indices are displayed on a screen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 19, 2021.

Philippine central bank hikes rates for second straight month

The monetary authority hiked its key interest rate by another 25 basis points to 2.5 percent, effective Friday.

3 years ago

Transportation Minister Budi Karya Sumadi gives an online press conference in September 2021.

Govt pursues key projects with Japan, incl Jakarta-Surabaya railway

Indonesia’s Transportation Ministry is pushing for progress on infrastructure work carried out in cooperation with Japan.

3 years ago

Germany to enter Phase 2 of emergency gas plan

The measure would be the latest escalation in a clash between Europe and Moscow that has exposed the bloc's dependence on Russian gas supplies and the difficulty of finding alternatives for several years.

3 years ago

Count on dollar: A customer counts US dollars at a money changer at ITC Kuningan shopping center in South Jakarta.

Dollar languishes as recession fears mount

The safe-have yen bounced, climbing back from 24-year lows to the dollar. The risk-sensitive Australian dollar dropped, and the Korean won slid to its weakest level for 13 years.

3 years ago

Shift to electric: President Joko “Jokowi” Widodo inspects an electric vehicle (EV) and battery charging device on the sidelines of an event on the groundbreaking of a South Korean-funded EV battery plant in Karawang, West Java, on Sept. 15, 2021.

Trade Ministry expects IK-CEPA ratification in July

A timeline shared with the public shows that next month is packed with events aimed at finalizing the trade agreement.

3 years ago

This aerial photo shows a view of residential and commercial tower blocks on the eastern side of Hong Kong island on April 3, 2022.