Sunday, August 1, 2021
COVID-19 has battered Indonesian flag carrier Garuda’s revenue and sent earnings plunging, causing trading of the airline’s shares to be halted recently after a bond default. CEO Irfan Setiaputra claimed the airline’s total debt was Rp 70 trillion (US$4.9 billion). This led to a meeting with the Ministry of...
Indonesian business groups on Thursday urged authorities to ensure there is enough financial support for companies, warning that otherwise new restrictions to tackle a surge in COVID-19 cases could result in layoffs and bankruptcies. The “emergency” curbs, which come into effect between July 3 to 20, will shut shopping malls,...
Indonesia is close to finalizing a sweeping revamp of listing rules, paving the way for South-east Asian start-up giants from Bukalapak.com to ride-hailing leader GoTo to go public from August. The authorities are finalizing details of new regulations that will allow firms to go public with multiple classes of shares...
Indonesia plans to increase its value-added tax rate to 12%, from 10%, and begin imposing the levy on some essential goods and services as part of a wider tax overhaul. The 12% VAT will be a general tariff covering most goods and services, Finance Minister Sri Mulyani Indrawati said on...
Indonesia, home to one of the world's largest gold mines, plans to set up a bullion bank to spur trading of the precious metal domestically. The government is consulting with parties including the central bank and the mining industry, with a plan to start operating the bank in 2024, Trade...
Kredivo, an Indonesia-based buy now, pay later (BNPL) service, announced it has received a second US$100 million debt facility from US-based private credit firm Victory Park Capital, which will be disbursed to its users in Indonesia. It received the same amount of debt from the investor in November last year. The total...
The public listings for two of Southeast Asia’s tech giants will likely pave the way for more high-growth businesses to emerge from the region, said venture capital firm 500 Startups. Contrary to concerns that regional heavyweights may “gobble up” smaller start-ups and stymie innovation, Vishal Harnal told CNBC that “couldn’t be...
Bank Indonesia (BI) left its benchmark rate unchanged at 3.50% at its May 2021 monetary policy meeting (MPC). Consequently, Bank Indonesia maintained the Deposit Facility rate at 2.75%, as well as the Lending Facility rate at 4.25%. The bank stated that the decision is consistent with the forecast for inflation...
Indonesia is one of the emerging market economies of the world. With more than 270 million people, Indonesia is the world's fourth-most populous country, with majority of population being Muslim. From a Dutch colony, to the largest economy in Southeast Asia. The country has travelled quite a road. You see, Indonesia...
Asian equities were in green on Monday if one can ignore covid woes in key regional areas mainly in India, Indonesia and the Philippines. In doing so, the broader sentiment follows Wall Street's gain after the US economics stay firm following the faster jabbing in the West. Though, Europe's...
Economists at UOB Group are expecting constructive prospects for Indonesia following a US-China recovery. Bringing the COVID-19 pandemic under control with vaccination drives is a key game changer and the world's two biggest economies are not lagging behind. The strong recovery from both countries can provide a tailwind for Indonesia's...
Indonesia has made coronavirus vaccination for citizens compulsory and is set to allow the private sector to help inoculate the population to reach herd immunity faster. A regulation amended earlier this week now means people who are eligible for vaccination but refuse a jab can be penalised. Sanctions could involve fines,...

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