Indonesia’s Q1 GDP contracts 0.74%, on track to recovery
JAKARTA -The Indonesian economy saw the latest in a series of diminishing contractions in the first quarter of 2021, staying on course for an economic recovery as the government kept up its fiscal support and ramped up the COVID-19 vaccination drive to allow people and…
Inflation Picks Up to Fastest Pace in Three Months Ahead of Idul Fitri
JAKARTA -Indonesia has seen inflation accelerated to its fastest pace in three months in April, as demand for foods and clothes during the Islamic fasting month of Ramadan picked up and drove up the commodities’ prices. The consumer price index — a composite measure gauging price level from…
Digitizing The Nation, Telkom Indonesia Posted 11.5% Growth in Net Income During Pandemic
JAKARTA -As industrial conditions remain battered by the COVID-19 pandemic, which continues to rage in Indonesia, PT Telkom Indonesia (Persero) Tbk (Telkom) managed to record a good performance by yielding positive income growth, with its EBITDA (Earning Before Interest, Tax, Depreciation, and Amortization) and net income…
Naver Invests $150m in Indonesian Media Firm
JAKARTA – Naver Corp., South Korea’s top internet portal operator, said Wednesday it has made a strategic investment of $150 million in Indonesian media giant Emtek to strengthen its foothold in the Southeast Asian market. Emtek operates broadcast channels, as well as the over-the-top service…
IMF Cuts Indonesia Growth Projection Amid Global Upgrades
JAKARTA -The International Monetary Fund (IMF) has revised on Tuesday its 2021 global economic growth projection upward as a boost from the United States giant fiscal stimulus would propel the global economy while emerging countries like Indonesia underperform. The IMF World Economic Outlook projected the global economy would recover from…
Indonesia Aims to Reach 600,000-Unit Annual Production of Electrified Vehicles by 2030 – Report
JAKARTA -Indonesia aims to reach an annual production volume of electrified cars by 2030, said the country’s minister of industry Agus Gumiwang Kartasasmita according to CNN Indonesia. Meanwhile, the country has also aimed for an annual production figure of 2.445 million electric bikes in that time,…
Krakatau Steel to Build 40 MW Floating Solar Power Station
JAKARTA -State-owned steelmaker Krakatau Steel plans to build a 40 megawatt (MW) floating solar photovoltaic (PV) power station in Banten to power the operations of its water treatment subsidiary, PT Krakatau Tirta Industri (KTI). KTI signed a US$14 million deal on Monday with energy company…
Indonesia’s Next Digital Boom Lies Beyond Metropolitan Cities
CLAUDIA CHONG JAKARTA – THE next wave of growth in Indonesia’s digital economy will come from non-metropolitan areas, according to research from Kearney and venture capital firm Alpha JWC Ventures. In tier two and three cities, the multibillion-dollar sectors of e-commerce, payments and lending are…
Batam, Bintan to Soon Be Opened for Foreign Tourists
JAKARTA -Tourism and Creative Economy Minister Sandiaga Uno said the government would prioritize to open doors for international tourists in Batam and Bintan, Riau Islands, before Bali, as the two regions are considered to be more ready. “This is because Batam-Bintan are far more ready [than Bali],” Sandiaga…
Indonesia: New capital city to be completed by 2024
JAKARTA -State palace will start soon in order to meet the target completion date of 2024, said the planning minister. Suharso Monoarfa told Anadolu Agency on Wednesday that the initial budget estimate for the construction of the new capital city was 466 trillion Indonesian rupiahs…