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Business

  • China's state-owned companies to invest in West Sumatra

    The Chinese government has expressed interest in investing in renewable energy and infrastructure development in West Sumatra.

  • Japfa hit hard by rupiah, rising costs in first half

    Publicly listed poultry firm PT Japfa Comfeed Indonesia continued suffering from net losses in the first half of this year due to foreign exchange (forex) volatility and the rising cost of goods sold.

  • AKR sees H1 net profits grow amid low oil prices

    Fuel distributor PT AKR Corporindo saw its net profits in the first half growing significantly amid a gloomy economy and dwindling oil prices, thanks to the company’s cost saving measures and a boost in sales.

  • Garuda reverses last year’s H1 loss as costs reduced

    Publicly listed national flag carrier Garuda Indonesia has rebounded from last year’s losses, posting a profit for the first half of this year after lowering operating expenses and recording strong passenger growth.

  • Economy in brief: Bank KEB Hana to get Rp 1.3t capital injection

    Korea based-private lender Bank KEB Hana Indonesia will receive an additional paid-up capital injection amounting to Rp 1.3 trillion (US$96.55 million) to support the lender’s growth as it aims to be one of Indonesia’s top 20 banks. This will bring up the bank’s capital to Rp 4.1 trillion as of July.

  • Economy in brief: Bukit Asam sees profits fall in H1

    Despite selling a higher volume of coal, state-owned coal miner PT Tambang Batubara Bukit Asam (Bukit Asam) saw its profits fall in the first half of this year as the commodity’s price plunged. The publicly listed coal supplier booked a 31.22 percent drop in net profits to Rp 795.6 billion (US$59.12 million) in the January-June period this year compared to last year, dragged by weak coal prices, corporate secretary Joko Pramono said in a statement on Wednesday.

  • Economy in brief: Bank Permata’s profits up slightly

    Publicly-listed Bank Permata on Wednesday reported a moderate increase in net profits in the first half of this year despite a significant rise in revenues.

  • Govt spending to push economic growth to above 5 percent: CORE

    Indonesia is on track to achieve its economic target as the expected increase in the government’s spending for infrastructure development would be able to revive the country’s economy in the second half of the year, a local economic think tank said.

  • Govt ban on outsourced workers leads to automation: ABADI

    The government ban on companies hiring outsourced workers to handle their core business activities has led to automation in several industrial sectors, according to the Indonesian Outsourcing Association (ABADI).

  • Retailers consider shifting imports to RI’s free-trade partners

    A number of retail companies are reviewing the possibility of increasing imports from Indonesia’s free-trade partners to compensate import tax rises recently imposed by the government.

  • Govt considers revising oil share contracts

    The government plans to require all contractors working on domestic oil blocks to not ship their share of production overseas and instead supply the domestic market to meet growing demand.

  • US economy likely rebounded to solid growth rate in spring

    After a terrible winter, the economy is improving, with a solid rebound in the spring expected to be followed by stronger growth in the second half of the year.

  • Bank Permata books Rp 837b net profit

    Publicly-listed Bank Permata booked Rp 837 billion (US$61.9 million) in net profits during the first semester of 2015, up by 5 percent from Rp 801 billion in the same period of last year.

  • Galaxy S6 fails to reverse profit decline at Samsung

    Samsung Electronics suffered a fifth straight drop in quarterly earnings as the Galaxy S6 failed to reverse its declining fortunes in global smartphone sales.

  • Facebook 2Q results soar as user base, mobile ads grow

    Facebook is attracting advertising dollars to where its users are — on mobile devices.

  • Fed holds steady on rates, seeks further economic gains

    The Federal Reserve appears on track to raise interest rates later this year but signaled Wednesday that it wants to see further economic gains and higher inflation before doing so.

  • How the Dow Jones industrial average fared on Wednesday

    U.S. stocks rose on Wednesday after Federal Reserve policymakers voted to keep interest rates unchanged and gave no indication that a rate rise was imminent. A modest rebound in Chinese stocks also helped push the stock market higher.

  • MNC Group to setup holding for TV, network services

    Conglomerate MNC Group is planning to set up a new entity that will serve as a holding company for its pay TV and broadband businesses in a bid to better synergize the two.

  • PLN to focus on transmission following power plant reduction

    The government has eased the financial burden of state-owned electricity firm PLN by halving the number of power plants it has to build and releasing part of the transmission development to private players.

  • More Idul Fitri revelers traveled by air this year

    Despite the domestic economic slowdown, the Transportation Ministry recorded a sharp increase in the number of homebound Idul Fitri travelers opting to use air transportation during the two-week holiday this year: up 8.8 percent to 3.76 million from 3.46 million in the holiday season last year.