JAKARTA: Malaysian palm oil scaled a record high on Wednesday, hitting the 10% upper trading limit as top producer Indonesia decided to restrict its exports further. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange gained 10% to close at 7,060 ringgit ($1,686.98) per tonne. The contract triggered a 10-minute […]
Read MoreJAKARTA :Indonesia will further restrict exports of palm oil from Thursday to increase domestic supplies, as authorities ramp up efforts to contain a surge in cooking oil prices, Trade Minister Muhammad Lutfi said. The world’s biggest producer and exporter of palm oil will require companies to sell 30per cent of their planned exports of crude […]
Read MoreGreen Era, a private Singapore-based company controlled by Indonesian billionaire Prajogo Pangestu, has bought 33.33% of Star Energy from Thailand’s BCPG for $440 million, giving him full ownership of three geothermal projects in Indonesia. Star Energy’s projects have a total gross capacity of 875 MW. Prajogo Pangestu already owned 66.6% of Jakarta-headquartered Star Energy through Barito […]
Read MoreLooking ahead, if oil price persistently hovers at a high level of above US$100 per barrel and essential commodity prices increase, the government will likely conduct price intervention, provide subsidies and social assistance… Jakarta (ANTARA) – The state budget deficit will potentially widen in 2022 due to the Russia-Ukraine conflict, Institute for Development of Economics and Finance (Indef) […]
Read MoreEnrico Tanuwidjaja, Economist at UOB Group. comments on the impact of the ongoing Russia-Ukraine conflict on Indonesian GDP and inflation. Key Takeaways “Russia-Ukraine ongoing tensions will have a very limited direct trade impact to Indonesia.” “However, higher oil prices and correspondingly fuel prices as well as some basic raw food items could result into significant […]
Read MoreTax facilities and COVID-19 The Minister of Finance (MoF) has issued regulation No. 226/PMK.03/2021 (PMK-226) dated December 31 2021 regarding the tax facilities for goods and services required in the handling of the COVID-19 pandemic and the extension of income tax facilities. This is based on government regulation No. 29 of 2020 regarding income tax […]
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