Business News

Government issues export permits for Freeport, Amman Mineral

The ministry’s mineral supervision and business director, Yunus Saifulhak, explained that the ministry had allowed PTFI to export 198,282 wet metric tons (wmt) of copper concentrate, while for Amman Mineral, the government had allowed it to export 336,100 wmt.The amount of concentrate allowed to be exported was based on the…

Government Pins Hope on Sukuk to Deepen Financial Market

The government is hoping that Indonesia’s huge Muslim population will boost demand for its sharia-compliant debt paper, also known as sukuk, and help develop the financial market.It recently issued its latest retail sukuk called the SR-011, which offers a yield of 8.05 percent annually. The yield, however, is slightly lower…

Jewelry investment trending among Indonesians

For 29-year-old Aprilia Ayu Ramadhani, or Lia, jewelry is not merely a collection of accessories, but a lifesaver. When her car broke down recently, requiring millions of rupiah for the repair, she went to a gold store to trade in her jewelry in return for the cash she badly needed.“It…

Indonesia formulates plan to become upper-middle income country

Finance Minister Sri Mulyani Indrawati said at a Cabinet meeting on Wednesday that Indonesdia is formulating plans to become a upper-middle income country.“We just presented our development challenges […] for Indonesia to upgrade itself from a middle- to an upper-middle income country,” Sri Mulyani said as quoted by Antara.During the…
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