Business News Asia
The largest importer of automotive fuel in Asia, Indonesia, is poised to break its gasoline demand and import records in 2023. The country’s return to normal life after lifting COVID-19 travel restrictions has fueled the growth, although it is expected…
Indonesia aims to achieve its highest level of coal exports to foreign countries in history by 2023, according to the Minister of Energy and Mineral Resources. The country plans to produce 695 million tonnes of coal this year, with a…
Indonesia, the world’s largest producer of palm oil, is considering new regulations that would require exporters to trade a portion of their palm oil domestically before exporting it. The move is aimed at increasing transparency and control of the commodity.…
Oil prices rose to their highest levels since early December on Wednesday, as the lifting of China’s strict COVID-19 restrictions led to optimism of a recovery in fuel demand in the world’s top oil importer. Brent crude futures were up…
Indonesia is making moves to establish itself as a leader in the electric vehicle industry by finalizing deals with two of the biggest players in the game – Chinese automaker BYD Group and American automaker Tesla. The Southeast Asian country…
On Tuesday, the country’s chief economic minister, Airlangga Hartarto, announced that Indonesia’s economic growth for this year is projected to be between 4.7% and 5.3%. This falls below the government’s official growth target for 2022, which is set at 5.3%.…
Indonesia’s statistics office reported that the consumer price index (CPI) rose more than expected in December. This contrasts with the estimates of central banks and market participants, who had expected inflationary pressures in Indonesia to weaken. In December, the CPI…
Indonesia’s central bank today raised its key interest rate. This is the fifth rate hike since August in an effort to bring inflation back to target levels next year. Bank Indonesia (BI) raised its 7-day repo rate by 0.25% to…
The Indonesian government will suspend exports of bauxite from mid-2023 in order to secure supplies to meet domestic demand. Bauxite is an essential ingredient in the production of aluminum. Indonesia is the country with the fifth largest bauxite reserves in…
The Indonesian Bureau of Statistics reported that Indonesia recorded a trade surplus of $5.16 billion in November. That was $4.26 billion more than analysts had expected. Indonesia’s November trade surplus was largely due to imports falling 1.89% year-on-year to $18.96…
