The Indonesian Retailers Association (Aprindo) has said retail business did not recover in October, and the month was unusually weaker than the previous month’s sales, even though it was closer to Christmas and New Year. Aprindo chairman Tutum Rahanta said low-purchasing power had sparked the weak sales in October. “The weakening of the rupiah, which affected the prices of goods, combined with stagnant […]
Read MoreIndonesia’s palm oil exports declined by 3 percent in September to 3.2 million tons from 2.2 million tons in the previous month, the Indonesian Palm Oil Producers Association (Gapki) has said. “The decreasing price of crude palm oil [CPO] has failed to attract countries to export more CPO because the prices of other vegetable oils like soybean, rapeseed and […]
Read MoreTEMPO.CO, Jakarta – Director General of Land Transportation Budi Setyadi said the Ministry of Transportation will finalize the online taxi regulation this month and will be ratified on November 20. The regulation will replace the Ministerial Regulation No. 108 of 2017 regarding online transportation. It also regulates the rates and other aspects, such as safety, security, and comfort. In […]
Read MoreBank Indonesia deputy governor Dody Budi Waluyo has said that Indonesia cannot avoid pursuing a high interest rate policy as central banks of other countries were also raising interest rates. “The risk that is our main focus is exports. The next is that our peers are tending to impose higher interest rates,” he said in […]
Read MoreThe government has canceled its plan to increase the excise tax for tobacco and tobacco products in 2019 and has also postponed its plan to simplify the tax, which has met with mixed responses from industry and consumer groups. The cancellation and postponement mean that the 2019 cigarette excise tax would not differ much from this year’s tax. The government made the decision last Friday during a cabinet meeting President […]
Read MoreThe government decided last week to remove the cost of accessing data on oil and gas blocks, which previously could cost up to $80,000. The move is an attempt to attract more companies to bid in the upstream sector, said Energy and Mineral Resources Ministry Oil and Gas Director General Djoko Siswanto on Monday. “[With […]
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