Business News
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…
Indonesia's Manufacturing Sector Consistently Rises Amid Decreasing Inflation
In July 2023, the manufacturing sector in Indonesia continued its expansion for the 23rd consecutive month, as reflected in the Manufacturing Purchasing Managers' Index (PMI), which rose to 53.3 from 52.5 in June 2023. This growth in the PMI was driven by an increase in new domestic and export demand,…
To Establish the World's Halal Industry Center, Indonesia Must Outdo Malaysia
Bank Indonesia has prepared three pillars to support Indonesia's goal of becoming the world's halal industry center by 2024. These pillars encompass strengthening the Sharia economic ecosystem, the Sharia financial sector, and promoting the halal lifestyle. Deputi Governor of Bank Indonesia, Juda Agung, expressed full support for the program aiming…
