Business News
Cross-border climate vulnerabilities of the European Union to drought
Abstract European Union’s vulnerability to climate change stretches far beyond its borders Ie many of its economic sectors, such as meat and dairy, use raw materials sourced from far afield. Cross-border climate vulnerability is a relatively new subject in scientific literature, while of high societal and economic relevance. We quantify…
Bank Indonesia Prohibits Cryptocurrency as Payment Tool
Bank Indonesia Governor Perry Warjiyo announced in a virtual seminar that the central bank has banned Indonesian financial institutions from accommodating cryptocurrency as a means of payment or other financial services tools. The ban, according to Perry, is based on existing laws "[Cryptocurrency] is not legitimate payment instruments under the…
Ministry clarifies VAT imposition solely on premium basic necessities
The government will solely impose value-added tax (VAT) on premium basic necessities through amendment to Law No. 6 of 1983 on general provisions and taxation procedures (RUU KUP), according to the Finance Ministry. "Of course, not all basic necessities (will be subject to VAT). For instance, basic necessities sold at…
Startups in Indonesia have grown up, but how crucial a role does fintech play?
Startups in Indonesia, along with micro, small, and medium enterprises (MSMEs) form the backbone of the business landscape in Southeast Asia’s (SEA) largest economy, which has in recent years seen a shift towards a healthy and dynamic startup ecosystem. Indonesia’s economy is set to rebound this year, with positive forecasts…
