Business News

Indonesia's Exports, Imports Nosedive in May as COVID-19 Restrictions Hit Trade

Indonesia booked a trade surplus of US$2.09 billion in May as imports fell steeper than the export slump against the backdrop of social restrictions worldwide and supply chain disruption, Statistics Indonesia (BPS) announced Monday.Exports plunged 28.95 percent year-on-year (yoy) in May to $10.53 billion, the lowest since July 2016, due…

Foreign investors flock to Indonesian capital market as lockdown policies ease

Foreign investors are starting to put their money back into Indonesian assets as countries around the world begin to ease their COVID-19 restrictions, spurring hopes of a global economic recovery.Foreign investors bought a total of Rp 8 trillion (US$564.3 million) in Indonesian stocks throughout last month, Financial Services Authority (OJK)…

House approves revised Mining Law amid outcry

As the country grapples with the COVID-19 crisis, lawmakers have approved a controversial revision of the 2009 Coal and Mineral Mining Law, despite outcry from civil society organizations.The new law, aimed at developing Indonesia’s downstream mining industry and increasing economic growth, will allow miners to extend permits through a simpler…

Demand for Photovoltaic Panels Plummets in Indonesia Amid Pandemic

Indonesia’s photovoltaic (PV) providers face a bleak business outlook at least in the next six months as the government and individual users cut back spending on anything deemed nonessential amid the pandemic, including solar panels. Demand for commercial PV panels was down up to 70 percent in the March-April period…
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