Business News

Italy PM says budget deficit likely to rise further amid pandemic

Italy’s budget deficit, currently projected to reach 10.4 percent of domestic output this year, is likely to expand further as the country tries to prop up the economy amid the coronavirus pandemic, Prime Minister Giuseppe Conte said on Sunday.Measures to avoid layoffs as well as to help struggling sectors such…

Indonesia's Exports, Imports Nosedive in May as COVID-19 Restrictions Hit Trade

Indonesia booked a trade surplus of US$2.09 billion in May as imports fell steeper than the export slump against the backdrop of social restrictions worldwide and supply chain disruption, Statistics Indonesia (BPS) announced Monday.Exports plunged 28.95 percent year-on-year (yoy) in May to $10.53 billion, the lowest since July 2016, due…

Foreign investors flock to Indonesian capital market as lockdown policies ease

Foreign investors are starting to put their money back into Indonesian assets as countries around the world begin to ease their COVID-19 restrictions, spurring hopes of a global economic recovery.Foreign investors bought a total of Rp 8 trillion (US$564.3 million) in Indonesian stocks throughout last month, Financial Services Authority (OJK)…

House approves revised Mining Law amid outcry

As the country grapples with the COVID-19 crisis, lawmakers have approved a controversial revision of the 2009 Coal and Mineral Mining Law, despite outcry from civil society organizations.The new law, aimed at developing Indonesia’s downstream mining industry and increasing economic growth, will allow miners to extend permits through a simpler…
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