Business News

New Cabinet: Fresh effort to boost economy

With Indonesia’s economy softening and facing pressure from around the world, President Joko “Jokowi” Widodo plans to overhaul the Cabinet to address economic issues to boost exports, investments and the digital economy.President Jokowi, who is to take up his second five-year term starting in October, said the upcoming lineup of…

Govt faces uphill battle to make Lake Toba world-class destination

As the largest volcanic lake in the world, Lake Toba in North Sumatra has what it takes to be developed into a world-class tourist destination, especially under President Joko “Jokowi” Widodo 10 new Balis initiative, which aims to boost the economy amid stagnating consumer spending and a slowing investment outlook.However,…

EU imposes duties of up to 18 percent on Indonesian biodiese

The European Commission on Tuesday imposed countervailing duties of 8 percent to 18 percent on imports of subsidized biodiesel from Indonesia, saying the move aimed to restore a level playing field for European Union producers.“The new import duties are imposed on a provisional basis and the investigation will continue with…

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…
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