Business News
Gojek, Tokopedia Create GoTo in a Landmark Merger Deal
Indonesian digital services company Gojek and Tokopedia have unveiled on Monday that they had agreed to combine the former's mobile on-demand services and payments platform and the latter's marketplace into GoTo Group, creating a new $18-billion entity that encompasses about two percent of the country's economic output. Gojek and Tokopedia…
The government will auction 6 new SPAMs in the near future
The Ministry of Public Works and Public Housing (PUPR) stated that the government cooperation scheme with business entities (PPP) will contribute nearly 40 percent of the construction of the new drinking water supply system (SPAM) until 2024. Head of Sub-Directorate for Technical Planning for SPAM, Ministry of PUPR, Dades Prinandes…
March retail sales up 6.1%: BI survey
Bank Indonesia’s Retail Sales Survey (SPE) has indicated an increase in monthly retail sales in March this year compared to the previous month. “Real Sales Index (IPR) March 2021 grew 6.1 percent (mtm), increasing from the previous month's growth of minus 2.7 percent (mtm)," executive director of the central bank’s…
New COVID-19 variants may jeopardize economic recovery in Indonesia
The emergence of new COVID-19 variants is expected to weigh on Indonesia’s economic recovery and may cause the government to miss its target of growth between 4.5 and 5.3 percent this year. The government reported on Monday that 24 cases involving new variants, including sub-variants of B.1.617, also known as…
