JAKARTA: Indonesia has imposed tariffs on imports of some textile products for the period until November 2022, according to a Finance Ministry regulation, in a bid to protect local producers from a surge of imports of fabrics, curtains and yarn. “Safeguard duties” of up to 11,426 rupiah (25 baht) per metre have been imposed for […]
Read MoreMillennials still find it difficult to buy houses despite the COVID-19 pandemic, which has impacted the property industry, as the threat of layoff looms amid a battered economy. Dara Cantika, a 26-year-old private-sector employee in Surabaya, East Java, delayed her plan to buy a house, fearing a pay cut or sudden layoff, given rampant job […]
Read MoreBank Indonesia (BI) has injected an additional Rp 167.6 trillion (US$11.33 billion) this month to stabilize the currency and financial system, projecting the rupiah to strengthen to pre-pandemic levels. BI Governor Perry Warjiyo said on Wednesday that the central bank aimed to provide liquidity in banks and the money market, as well as stabilize the […]
Read MoreBNI Syariah, the sharia subsidiary of state-owned Bank Negara Indonesia (BNI), reported a jump in its net profit during this year’s first quarter as it eyed opportunities to expand international banking services by banking on its parent company’s overseas branches. BNI Syariah net profit soared 58.1 percent year-on-year (yoy) to Rp 214 billion (US$14.46 million) […]
Read MoreThe Indonesian automotive industry remains attractive for current and future investment in the region with low labor costs and favorable production growth, Fitch Solutions has stated. According to Fitch Solutions Autos Production Risk/Reward Index (RRI), the low cost of labor remains Indonesia’s main key strength, reflected in the average wages score of 83.9 out of […]
Read MoreThe retail property market recorded no new openings of shopping centers or leasing activities in April and May in Jakarta as shopping malls across the country temporarily closed to prevent further spread of COVID-19. Data compiled by the Indonesian Shopping Center Association (APPBI) show that 190 shopping malls across the country temporarily closed. Stefanus Ridwan, the chairman of the association, said Tuesday that […]
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