Publicly listed tire manufacturer PT Goodyear Indonesia has temporarily shut down its production activity to comply with the large-scale social restriction (PSBB) measures to curb the spread of the COVID-19 pandemic. The publicly listed firm halted its production on April 20 until May 3 in a bid to comply with the recent PSBB policy applied […]
Read MoreThe Asian Development Bank (ADB) has approved a US$1.5 billion loan to support Indonesia’s efforts to combat the impact of the COVID-19 pandemic on public health and the economy. ADB president Masatsugu Asakawa said on Thursday the pandemic had a devastating health, social and economic impact on Indonesia, urging the government to respond to the […]
Read MoreThe government is in talks with four start-ups to forge partnerships for the preemployment card program as it wants to add more online courses despite recent backlash over the program’s partner selection process and courses. The program management’s president director, Denni Purbasari, said adding new partners was intended to encourage more start-ups to grow. It […]
Read MoreHousehold spending in Indonesia, a major contributor to the country’s gross domestic product (GDP), is expected to tank this year as more people lose their jobs during the COVID-19 pandemic that has upended business activities, Fitch Solutions projects. Fitch Solutions researchers said growth in household spending, which accounts for 57.4 percent GDP, would slow to […]
Read MoreBank Indonesia (BI) directly purchased Rp 1.7 trillion (US$108 million) worth of sharia sovereign bonds during an auction held by the government on Tuesday, the first such direct purchase since the government issued the COVID-19 stimulus playbook. The central bank acted as a noncompetitive bidder during the auction and only bought “a small portion” of the […]
Read MoreState-owned pharmaceutical company PT Kimia Farma plans to cut capital allocation and costs to maintain its performance during the COVID-19 pandemic, but still expects to see increased revenue this year. President director Verdi Budidarmo said on Tuesday that the company was lowering its capital allocation for the year to Rp 1.44 trillion (US$92.38 million), almost 38 percent lower […]
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