Garuda gets $382 million in loans from BRI to fund working capital
National flag carrier Garuda Indonesia has received three loan facilities from state-owned Bank Rakyat Indonesia (BRI) with a total value of US$382 million to fund the airline’s working capital The publicly listed airline received a $50 million short-term loan from the bank with an interest rate based…
Indonesians Tip More Generously During Pandemic: Grab
While the Covid-19 pandemic has hit the economy hard, people are still ordering food and other goods on delivery services and have actually grown more generous toward delivery drivers, giving them larger tips than before the pandemic began, data from Grab Indonesia, the local branch of the Singapore-based ride-hailing,…
BI sees growth bottoming in Q2, pledges to use all instruments to bolster economy
Bank Indonesia (BI) has pledged to go all out to bolster the economy as the central bank has forecast economic growth to weaken 0.4 percent in the second quarter due to coronavirus containment measures. BI Governor Perry Warjiyo projected gross domestic product (GDP) growth to…
Australia-Indonesia FTA to take effect in July
Australia’s free trade deal with Indonesia will finally kick in on July 5, providing a welcome boost for exporters amid the coronavirus-induced economic downturn. Some 15 years after negotiations first began, Indonesian officials have completed the formal ratification of the agreement. It was given the…
Top 10 Hottest Years On Record Globally
Climate Central compares temperatures to an earlier 1880-1910 baseline to assess warming during the industrial era. Calculations of average annual global temperature are performed independently at NASA and NOAA. Small differences in their calculations arise as NASA’s calculations are extrapolated to account for polar locations…
Global Healthcare ECM Activity YTD as April 22, 2020
Refinitiv launched Healthcare ECM Trend YTD as April 22, 2020. Global Healthcare ECM offerings raised US$23.6 billion, up 30.1% from a year ago, while Healthcare IPO proceeds grew 46.4% y-o-y to US$4.6 billion worldwide. US dominates with 44.5% market share of the global healthcare ECM…
Govt Assures Plenty of Rice Stocked for May
The Ministry of Agriculture has ensured the availability of rice throughout May 2020 to remain secure, as 3.5 million tons of rice have been stocked. The Minister of Agriculture, Syahrul Yasin Limpo, has assured the Indonesian people of food security during the COVID-19 pandemic, thereby guaranteeing food…
Indonesia exempt international routes from flight ban
Indonesian authorities have prohibited domestic air travel from April 24 to June 1, representing a major change for a market that has so far been less affected by COVID-19-related flight suspensions than many other countries. The move is part of a larger effort to restrict…
Northstar Group secures first tranche of $800 million to be invested in Indonesia, SE Asia
Indonesian private equity firm Northstar Group announced the closure of its fifth flagship funds to be invested in companies and start-ups working on COVID-19 recovery and sectors such as consumption, digital economy and finance. The funds, representing one-third of the company’s US$800 million target, will be invested in…
Indonesia and COVID-19: What the World Is Missing
Yes, the Indonesian government has stumbled. But civil society has been rising to the occasion. “For every tourist lucky to leave there are millions of Indonesians with no way out” — this was the conclusion of an ABC News report in late March into the…
