Six governmental bodies launched in Jakarta on Monday an application for oil and gas companies to apply for duty exemptions on imported exploration equipment. The Finance Ministry said in a statement that the purpose of the app was to streamline and simplify the application process for the Finance Ministry Exemption Letter (SKEP). “Most importantly, the [approval] waiting time is […]
Read MoreSTRONG growth is expected in Indonesia’s mass affluent and high net worth populations in the next three years, representing a significant opportunity for wealth managers, according to an Oct 14 report by data and analytics firm GlobalData. The number of mass affluent individuals, defined as those with liquid assets of US$50,000 to US$1 million, has […]
Read MorePUBLIC spending is unlikely to reverse an economic downturn in Indonesia, although it ought to cushion the blow, according to a new report by Citi economist Helmi Arman. While economic weakness is expected to persist into 2020, political leaders will probably cut spending only selectively, “and may even push to boost spending”, he wrote, although […]
Read MoreORLD nickel prices climbed, while inventory took a tumble, in the weeks since Indonesia’s surprise ramp-up of export curbs in late August. With ore producer Indonesia supplying nearly one-quarter of global nickel, the price of the key industrial metal jumped by 18 per cent between end-August and Sept 2 before “moderating somewhat thereafter”, DBS economist […]
Read MoreThe Energy and Mineral Resources Ministry aims to distribute next year around 9.6 million kiloliters of fatty acid methyl ester (FAME), a critical ingredient for biofuel, a ministry official has said. “The target has been approved by [the ministry’s acting oil and gas director] Djoko Siswanto but not yet by the minister,” bioenergy director Andriah […]
Read MoreA report entitled “Swipe up and to the right: Southeast Asia’s $100billion internet economy”, compiled by Google, Temasek, and Bain & Company, cites Indonesia as the ‘king’ in the ride-hailing sector, or application-based transportation services, with the industry reaching US$6billion in 2019. This growth is a 6-fold increase in the market since 2015. “The ride-hailing […]
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