Business News
Bank ownership revision will encourage investment
The Financial Services Authority (OJK) logo is seen on the frontispiece at its headquarters in Jakarta.(kontan.co.id/File)Banks welcomed the Financial Services Authority's (OJK) plan to relax bank ownership rules as it is expected to encourage more deals in the banking industry, although it comes with risks.OJK banking supervisory division head Heru…
President Joko Widodo delivers first speech after re-election, sets out vision for second term
JAKARTA - Indonesian President Joko Widodo delivered his first speech on Sunday (July 14) since being re-elected, and laid out his vision for his second term, which will see the government shift the focus from infrastructure development to building up the quality of human resources in the country.Mr Joko outlined…
Govt, House agree on economic assumptions with growth at 5.2-5.5 percent
The House of Representatives and the government have agreed on a set of macroeconomic assumptions that will form the basis for the 2020 state budget. The agreement projects accelerating gross domestic product (GDP) growth.“Economic growth was agreed at 5.2 to 5.5 percent,” said Golkar Pary lawmaker John Kenedy Aziz when…
Indonesia looks to the seas for growth
Indonesia’s economy has been praised by the World Bank for shaking off unusually damaging natural disasters and global volatility. The Washington-based bank says coordinated and prudent macroeconomic policies have underpinned the country’s steady economic growth.Maritime sectors such as tourism and fisheries could make a larger contribution to Indonesia’s economic development…
