Indonesia turns athletes’ village into Covid-19 hospital
Part of a large tower complex built in Jakarta to house athletes for the 2018 Asian Games has been turned into a temporary hospital for Covid-19 patients. Two towers out of the 10 at the Athletes’ Village in Kemayoran have been refitted to accommodate up…
Indonesia plans bonds to fund cheap loans for business
Indonesia’s government is planning to issue bonds aimed at raising funds for struggling businesses under plans to cushion Southeast Asia’s biggest economy against the impact of the coronavirus disruption, an official said on Thursday. To support businesses and save jobs, the government has launched measures…
LMIRT closes 11 Indonesia malls to curb coronavirus spread
LIPPO Malls Indonesia Retail Trust (LMIRT) will temporarily close 11 Indonesia malls as a precaution in light of the coronavirus outbreak, its manager said on Thursday. The malls will close from March 27 to April 9, and are located in the Greater Jakarta region, Bandung…
Corona pressed, Sri Mulyani admitted the state budget threatened a 2.5% deficit
Indonesia Finance Ministry predict deficit of state budget this year will be worse due to Covid-19 outbreaks. During meeting with president Joko Widodo, she told that the ministry indicate that the deficit is in the range of 2.2% to 2.5% of GDP The State Budget…
BI Survey: February Retail Sales Decline, Clothing Most Sluggish
Indonesia’s Retail Sales dropped by 0.3% on the year in January vs. a 0.5% drop seen in December, the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Tuesday. The Bank Indonesia survey predicted sales in February to have remained weak, estimating…
Indonesia Ranked Fourth in the World with the Most Female Leaders
Indonesia ranks fourth for percentage of women in senior management positions at 37 percent, according to Grant Thornton International report titled “Women in Business 2020”. Indonesia is still behind Philippines that ranks highest at 43 percent and is followed by South Africa 40 percent and…
CORONA VIRUS EFFECTS – In addition to PPh 21 borne by the government.
Indonesia issue new incentives to counter Covid-19 impact on economy. The new incentives will give tax relaxation for income tax for individual worker (PPh 21), import tax (PPh 22), income tax for corporate (PPh 25) and accelerated VAT restitution. With this fiscal stimulant, government expect…
Week Ahead Economic Preview: Week of 9 March 2020
After worldwide PMI surveys showed the global economy contracting at the steepest rate since 2009 as the coronavirus disrupted supply chains and hit sectors such as travel, tourism and transport, markets will be watching keenly for remedial (or insurance) policy action from central banks and…
Indonesia Targets New Investment Deals at Hannover Messe 2020
Indonesia is hoping to secure new investment deals from participating in the annual German industrial technology fair Hannover Messe on Apr. 20-24. Jakarta. Indonesia is hoping to secure new investment deals from participating in the annual German industrial technology fair Hannover Messe on Apr. 20-24. As the…
Oil Dives 31% in Worst Loss Since 1991 Gulf War as All-Out Price War Erupts
Oil markets tumbled the most since the Gulf War in 1991 on Monday (March 9) after the disintegration of the Opec+ alliance triggered an all-out price war among the world’s biggest producers Oil markets tumbled the most since the Gulf War in 1991 on Monday…