Business News
Jokowi signs controversial new Mining Law: Expert staff
President Joko “Jokowi” Widodo has signed the new Coal and Mineral Mining Law, which is meant to expand Indonesia’s mining industry but is marred with controversy over its socioenvironmental impacts and lack of procedural transparency.According to a copy obtained by The Jakarta Post, Jokowi signed Law No. 3/2020 on June…
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)…
