Business News

Indonesian Palm Oil Exports Soar Despite Declining Production

Indonesia, the world's largest producer of palm oil, has seen an increase in exports amid a decline in production. The Indonesian Palm Oil Association noted that exports in July increased 13 percent from the previous month. "From January to July, palm oil exports to India increased 22 percent compared to…

Sri Mulyani Reduces Export Levies on Wood Veneer to 5 Percent

Finance Minister Sri Mulyani Indrawati has revised the regulations concerning export goods subject to export duty and export duty tariff. In the new regulation, Sri Mulyani cut export duties, aka export levies for wood veneers (sheets of wood with a thickness of up to 3 mm), from 15 percent to…

Tourism Ministry to Start Disbursing Relief Grant to 101 Cities, Regencies Next Month

The Tourism and Creative Economy Ministry plans to start disbursing Rp 3.3 trillion (US$224 million) in relief grants to 101 selected cities and regencies in November, an official has said. The grant is intended to help recover the coronavirus-battered tourist industry. Seventy percent of the grants would be disbursed to…

Industrial Sector Exports Maintain Positive Performance

The national industrial sector remains aggressive in breaking into international markets amid the difficult times of the Covid-19 pandemic. The processing industry's non-oil and gas exports during January-September 2020 were recorded at US $ 94.36 billion."This achievement shows that the manufacturing sector still contributes the most to the total value…
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