Business News

Govt relies on investments to anchor growth amid global economic turmoil

Higher investments are essential for maintaining Indonesia’s stable annual economic growth, Finance Minister Sri Mulyani Indrawati says.“We have to make sure that growth can be spurred from investment, the fundamental factor for Indonesia to be able to maintain its growth momentum of above 5 percent without incurring vulnerabilities amid a…

Bank ownership revision will encourage investment

The Financial Services Authority (OJK) logo is seen on the frontispiece at its headquarters in Jakarta.(kontan.co.id/File)Banks welcomed the Financial Services Authority's (OJK) plan to relax bank ownership rules as it is expected to encourage more deals in the banking industry, although it comes with risks.OJK banking supervisory division head Heru…

President Joko Widodo delivers first speech after re-election, sets out vision for second term

JAKARTA - Indonesian President Joko Widodo delivered his first speech on Sunday (July 14) since being re-elected, and laid out his vision for his second term, which will see the government shift the focus from infrastructure development to building up the quality of human resources in the country.Mr Joko outlined…

Govt, House agree on economic assumptions with growth at 5.2-5.5 percent

The House of Representatives and the government have agreed on a set of macroeconomic assumptions that will form the basis for the 2020 state budget. The agreement projects accelerating gross domestic product (GDP) growth.“Economic growth was agreed at 5.2 to 5.5 percent,” said Golkar Pary lawmaker John Kenedy Aziz when…
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