The issuance of foreign-denominated global bonds by the government has contributed to strengthening the country’s foreign exchange reserve position, Bank Indonesia (BI) announced on Friday. Foreign exchange reserves were recorded at US$123.3 billion in February, higher than the $120.1 billion that was booked in January. The central bank estimated the current foreign exchange reserve level […]
Read MoreCoordinating Economic Minister Darmin Nasution has stressed that the trade war between China and the United States has badly affected and will continue to affect Indonesia’s exports as both countries will import less from Indonesia as they experience economic slowdowns. “China is our largest export destination, while the US is number two. Both countries are […]
Read MoreJAKARTA: Indonesia plans to revise its luxury tax scheme for cars to encourage production of environmentally friendly vehicles and to help promote Southeast Asia’s biggest economy as a regional hub for exports, ministers said on Monday. During a consultation with a parliamentary committee, Finance Minister Sri Mulyani Indrawati said Indonesia aimed to overhaul its existing scheme so charges were no longer based on engine […]
Read MoreThe Energy and Mineral Resources Ministry has issued one-year export permits for gold and copper miners PT Freeport Indonesia (PTFI) and PT Amman Mineral Nusa Tenggara. The ministry’s mineral supervision and business director, Yunus Saifulhak, explained that the ministry had allowed PTFI to export 198,282 wet metric tons (wmt) of copper concentrate, while for […]
Read MoreGrab, the largest ride-hailing platform in Southeast Asia, raised a record US$2.5 billion during its Series G round last year, yet it is continuing with its Series H round, which has raised at least $2.65 billion since it opened in June. The bulk of these funds are to be channeled to the company’s GrabFood delivery […]
Read MoreJOHOR, Malaysia/JAKARTA: On the southernmost edge of the Asian landmass and on the shores of the busy shipping lanes of the Singapore Strait, Malaysia’s Petronas is starting up a state-of-the art petroleum processing hub, called RAPID. The huge complex in Malaysia’s Johor province is currently testing its systems, running crude oil through its fuel processing […]
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