Business News

Indonesia’s GDP contracts deeper than expected at 5.32% in Q2

Indonesia’s economy suffered its sharpest downturn since the 1998 Asian financial crisis in the second quarter, as the COVID-19 pandemic shut down large parts of the country, ravaging businesses and leaving millions out of work.GDP contracted 5.32 percent in the second quarter, the lowest since the first quarter of 1999,…

Gold price surge blessing in disguise for Indonesia

The recent surge in gold prices could be a boon for Indonesia, despite the economic risks that loom behind the spike in demand for the safe haven commodity. The price of bullion touched its highest level ever on Tuesday, with investors rushing to park their money in safe-haven assets, as…

Alternative rice products see double digit growth in demand amid trade disruption

The disruptions to trade and falling imports caused by the COVID-19 pandemic have led to a double-digit increase in demand for locally produced, high-quality, alternative rice products, farmer cooperatives have reported.Sales of high-quality foreign rice varieties and organic rice products such as Japonica rice, Basmati rice, Jasmine rice, and high-protein…

Indonesia to mix coal-based DME, LPG as cooking gas to reduce imports

The government is looking to mix coal-based dimethyl ether (DME) and liquefied petroleum gas (LPG) as cooking gas in an effort to reduce Indonesia’s dependence on imported LPG.The country has long sought to replace the LPG with DME as a cooking fuel, but new official studies have revealed a key…
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