Bank Indonesia (BI) has bought up to Rp 173.1 trillion (US$11.24 billion) worth of government bonds from primary and secondary markets in a bid to stabilize rupiah and support the government’s financing needs. BI Governor Perry Warjiyo said the central had bought Rp 166.2 trillion worth of government bonds from foreign investors in the secondary […]
Read MoreMany people still plan to buy Islamic goods and fashion items for the Ramadan fasting season despite an overall decline in consumer spending caused by growing financial insecurity amid the COVID1-19 pandemic, a survey has indicated. While fashion items remain on consumers’ shopping lists, purchases of recreational and luxury items such as jewelry and smartphones […]
Read MoreBank Indonesia (BI) has injected Rp 503.8 trillion (US$32.7 billion) into banks and the debt market to stabilize the rupiah and help support the government’s financing needs to combat the economic shocks of the COVID-19 pandemic. BI Governor Perry Warjiyo said that banks would be obliged to buy government bonds after the central bank freed […]
Read MoreAs the COVID-19 pandemic changes the global business landscape, jamu (herbal medicine) producers are playing a growing role in the Indonesian economy. National jamu sales in 2019 generated Rp 21.5 trillion (US$1.38 billion) in revenue, up 13.1 percent from Rp 19 trillion in 2018, according to the Indonesian Jamu and Traditional Medicine Producers Group (GP-Jamu). While this year’s figure remains indeterminable due […]
Read MoreDomestic sugar manufacturers have begun to ramp up production capacity in response to the government’s call to stabilize prices ahead of the Ramadan festivities as the COVID-19 pandemic has disrupted supplies, a top official has said. Ten refined sugar manufacturers have produced around 90,000 tons of consumer sugar out the 250,000-ton target from the government […]
Read MoreThe Transportation Ministry has temporarily restricted passenger travel during the period of April 24 until May 31 in an effort to prevent an Idul Fitri mudik (exodus) as the country struggles to contain the spread of COVID-19 across the archipelago. The mudik ban, which is based on Transportation Ministry Regulation No. 25/2020 signed by acting minister Luhut Pandjaitan on April 23, […]
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