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Indonesia: Residential property sales, prices rise cool as pandemic hits economy

Residential property sales and prices rise have shown a downward trend amid the COVID-19 pandemic, which has battered people’s purchasing power and developers’ marketing efforts, despite lower mortgage interest rates. Totok Lusida, the chairman of the Real Estate Indonesia (REI), an association of 6,400 developers, said on May 18 that aside from hindered construction, social […]

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Indonesia: 11 companies sign deals to buy gas at lower prices

Eleven companies have signed agreements with gas producers to buy cheap natural gas as part of the government’s incentive to boost Indonesia’s economic growth. Four manufacturers and seven gas distributors will, respectively, purchase gas at US$6 per million British thermal unit (mmbtu) and $4 per mmbtu directly from oil and gas fields. The distributors will […]

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Indonesia: Experts slam agriculture reform program, warn of shortage amid pandemic

Agriculture experts have criticized the government’s agrarian reform program a lack of progress that led to low production yield and mounting food imports, pointing to possible food shortages if the COVID-19 pandemic continues. University of Indonesia (UI) senior economist Faisal Basri has voiced his concerns over the increasing number of food imports over the years, saying that […]

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Bangkok Bank acquires majority stake in Bank Permata for $2.3b

Bangkok Bank has acquired an 89.12 percent stake in privately owned Bank Permata from diversified conglomerate PT Astra International and British lender Standard Chartered Bank (SCB). The Thailand-based bank completed on Wednesday the transaction for Rp 33.66 trillion (US$2.3 billion), equal to 1.63 times Bank Permata’s book value, as agreed by the sellers and buyers […]

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