Business News

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…

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…
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