Business News

Indonesia launches three economic zones, eyes $7.7 bln investment

Indonesian President Joko Widodo on Monday launched three special economic zones (SEZs) across 2,200 hectares of land at the eastern part of the archipelago in a fresh bid to attract investment and spur economic growth in less developed areas.The government aims to attract 110 trillion rupiah ($7.73 billion) investment in…

Indonesia prepares new airfare regulation

The Transportation Ministry is preparing a new regulation on airfares because the government is unhappy with the move by several airlines to lower their ticket prices.The ministry’s spokesman, Hengki Angkasawan, said on Wednesday the draft regulation was being prepared by its law department and the directorate general of civil aviation."We…

Indonesia threatens to quit Paris climate deal over palm oil

A senior Indonesian minister warned on Wednesday Southeast Asia’s biggest economy could consider exiting the Paris climate deal if the European Union goes ahead with a plan to phase out palm oil in renewable transportation fuel. Indonesia, the world’s biggest palm oil producer, has lashed out at the EU after…

Minister wants new players in jet fuel business to bring down airfares

Coordinating Maritime Affairs Minister Luhut Pandjaitan said he wants to push for the emergence of a new player in the jet fuel or avtur business in an effort to lower airfares and boost tourism in the country.One company that had expressed interest in becoming an avtur supplier is a joint…
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