Logistics companies have experienced more than a 50 percent decline in overall business performance since the COVID-19 outbreak hit Indonesia in early March, the Indonesian Logistics Association (ALI) reported. The association’s chairman, Zaldy Ilham Masita, said logistics volume has been down 60 to 70 percent across the board since early March due to emergency measures taken […]
Read MoreIndonesia’s restaurant chains and retailers are struggling to fulfill their obligations to their employees while trying to keep their business afloat amid the COVID-19 pandemic. Publicly listed PT Fast Food Indonesia, the operator of Kentucky Fried Chicken (KFC) chains in Indonesia, said in a statement last Friday that it closed 97 stores across the country […]
Read MoreSequoia Capital India has chosen 15 start-ups from Southeast Asia and India to participate in its third acceleration program, Surge 03. Three of the 15 are Indonesia-based early-stage start-ups, namely a bookkeeping application for small and medium enterprises (SMEs) BukuKas, edtech platform CoLearn and cloud kitchen service Hangry. Meanwhile, the other start-ups are from India, […]
Read MoreIndonesia’s economy may enter a recession and experience a much longer recovery than other countries in Southeast Asia if the government’s management of the COVID-19 pandemic remains “slow” and “amateurish”, economists have warned. A recession happens when a country sees its gross domestic product (GDP) decline for two consecutive quarters in conjunction with other monthly indicators, […]
Read MoreIndonesia’s debt is expected to remain sustainable this year despite a steep increase in the planned issuance of government bonds to finance the country’s widening budget due to a big COVID-19 stimulus check, the Asian Development Bank (ADB) has said. ADB Indonesia country economist Yurendra Basnett said that the country had entered the COVID-19 crisis with one of the lowest debt-to-gross domestic […]
Read MoreIndonesia’s low internet penetration rate has impeded the effectiveness of the government’s COVID-19 social assistance programs as the government relies heavily on online platforms to deliver its relief programs, such as online training and cash disbursement. The Institute for Development of Economics and Finance (INDEF) argued that the country’s digital divide could further deepen inequalities […]
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