Business News
The National Batik Export Targets Reaching USD 100 Million by 2023
The batik industry plays a crucial role in the national economy. Throughout 2022, the value of batik exports and batik products reached USD 64.56 million, a significant increase of 30.1% compared to the achievements in 2021. During the period from January to April 2023, the value of batik exports and…
The Minister of Industry: Free of VAT Import of CBU Electric Cars Only for Those Investing in Indonesia
The Minister of Industry of Indonesia is optimistic that the abolition of value-added tax (VAT) on imports of completely built up (CBU) electric cars can expand the electric vehicle (EV) market in Indonesia. The 0% VAT for electric car CBU is one of the government's efforts to expand the market…
Italy Plans USD 2.2 Billion Fund to Support Key Supply Chains
Italy plans to set up a fund with at least EUR 2 billion (USD 2.2 billion) at its disposal to bolster strategically important supply chains, a draft bill seen by Reuters showed. The "Made in Italy" fund will have an initial endowment of EUR 700 million in 2023 and an…
Muncar Banyuwangi's Sea Harvest Tradition Aims to Benefit Local Economy
The coastal community of Muncar in Banyuwangi, East Java, held the traditional "petik laut" (sea-picking) ceremony on the 15th of Muharram in the Islamic calendar, which has become an annual event contributing to the local economy. This tradition symbolizes gratitude for the bountiful harvest from the sea they have received…
