Indonesia

June 28, 2017

Indonesia: Trade Minister Says Staple Food Prices Stable

TEMPO.CO, Bandung – Trade Minister Enggartiasto Lukita said that staple food prices in traditionalmarkets are stable after Eid al-Fitr. After inspecting several markets, he said that food prices are rising due to trade activities in the markets that have not returned to normal. Nevertheless, he added that the increase still stands at a tolerable level and is caused by reasonable factors. “There is a slight increase because only one or two vendors are open, but it’s far from the […]

June 27, 2017

Seven Eleven Closes Its Business In Indonesia

TEMPO.CO, Jakarta – Indonesian Chamber of Commerce and Industry Chairman (Kadin), Rosan Roeslani, explained the reason behind the downfall of Seven Eleven in Indonesia, which can be traced to their business model that isn’t compatible with Indonesia’s current condition. She said that there are two contributing factors; thin margins and low sales volume. “A person […]

June 24, 2017

Indonesia: Customs and Excise Revenue in June Reaches Rp57.59 Trillion

TEMPO.CO, Jakarta – Finance Ministry’s Customs and Excise Directorate General (DJBC) reported revenue of customs and excise up to mid-June 2017 to reach Rp57.59 trillion or around 30.12 percent from the target. “Compared to the previous year, it is higher, it increases around 4.7 percent,” DJBC Revenue and Regulation of Customs and Excise director Sugeng Aprianto said in […]

June 21, 2017

Indonesia: Government set to revise negative investment list again

Indonesia is set to revise the country’s negative investment list pending a technical meeting to be organized by the Coordinating Economic Ministry. Regarding the new list, Economic Coordinating Minister Darmin Nasution hinted that there would be no change in the manufacturing sector. “I don’t not remember one by one, I have to check again, maybe […]

June 21, 2017

Indonesia-Sri Mulyani: Govt to Add More Debt following TaxRevenue Shortfall

TEMPO.CO, Jakarta – Finance Minister Sri Mulyani Indrawati said that tax revenue target this year will not be achieved. She predicts a tax revenue shortfall of Rp59.1 trillion. This year’s tax revenue is expected at Rp1,248.5 trillion, whereas the target was set at Rp1,307.6 trillion. To make up the shortfall, Sri said that the government will […]

June 17, 2017

Indonesia: 15th Economic Package Expected to Reduce Logistic Costs

TEMPO.CO, Jakarta – The 15th Economic Package recently launched by the government was made in response to the demands from businessmen in the logistic sector. Chairman of the Indonesian Logistic Association Zaldy Ilham Masita said that it aimed at distributing good distribution and reducing logistic costs. Zaldy also said that the association hopes this economic package can reduce logistics costs […]

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