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Retail Asia18/11/2016

Bank Indonesia (BI) decided on Thursday to keep its seven-day reverse repo rate at 4.75 percent in response to global uncertainty following the outcome of the recent US presidential election. “BI is responding to the uncertainty in consideration of a stable condition in the domestic economy,” BI governor Agus Martowardojo said in a press conference […]

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Retail Asia18/11/2016

Tesso Nilo National Park, Riau Province, Indonesia. This patch of forest is supposed to provide a habitat for tigers and elephants, but is constantly under threat of fire, illegal logging and encroachment. Image: The first containers of plywood certified as legal under the EU’s anti-illegal-logging action plan were shipped out of the Indonesian capital on […]

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Retail Asia18/11/2016

Indonesia’s central bank kept its benchmark interest rate unchanged after six cuts this year, seeking to calm financial markets in the wake of the United States presidential election results. Governor Agus Martowardojo and his board held the seven-day reverse repurchase rate at 4.75 per cent yesterday. Analysts had said market volatility following Mr Donald Trump’s […]

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Retail Asia17/11/2016

Bank UOB Indonesia projects Indonesia’s economy to grow next year despite the global slowdown. UOB Indonesia president director Kevin Lam said Indonesia’s economy will grow steadily at around 5.2 percent in 2017, up from this year’s 5.0 percent. Kevin is certain that the government will maintain the country’s growth momentum through various economic policy packages […]

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Retail Asia17/11/2016

A direct air link between India and Indonesia is set to become a reality with Garuda Indonesia, the South East Asian country’s national air carrier, considering to launch a service soon. Garuda Indonesia plans to introduce direct flights connecting Jakarta-Mumbai. In all likelihood, it should happen this December, Consul General of Indonesia Saut Siringoringo said […]

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Retail Asia17/11/2016

Indonesia is a few steps closer to becoming the largest digital economy in the region, as one of Silicon Valley’s largest players, Plug and Play, has expressed interest in investing in dozens of Indonesian start-ups. Despite Silicon Valley firms being discouraged from investing abroad recently, Plug and Play seems to see huge potential in Indonesia’s […]

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Retail Asia17/11/2016

Air BP, the international aviation fuel products and services supplier, and AKR, an Indonesian distributor of chemicals, petroleum, logistics and supply chain solutions, have announced the signing of a JV agreement. The agreement was signed in London by Mr Jonathan Wood, Chief Strategy and Business Development Officer, Air BP, and Mr Haryanto Adikoesoemo, President Director […]

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Retail Asia17/11/2016

PT Matahari Putra Prima Tbk (MPPA), a multi-format modern retailer in Indonesia, which operates Hypermart, SmartClub, Foodmart, Boston Health & Beauty and FMX, proudly opened its premium supermarket format, Foodmart Primo on Friday November 11, 2016, located at Level 21 Mall Denpasar, Bali. The store has a gross selling area of ±1,298 m². The Foodmart […]

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Retail Asia17/11/2016

After announcing that it would relocate to a new office in 2014, budget carrier AirAsia finally moved into its new space in Sepang, Malaysia, on Monday. The office, dubbed RedQuarters, is located on an 18,000-square-meter plot beside Kuala Lumpur International Airport 2 ( KLIA2 ). It is reportedly set to house 2,000 AirAsia employees. With […]

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Retail Asia16/11/2016

The launch of MatahariStore.com has provided more opportunities for the company and for the development of online and retail industries in Indonesia as research from Google and Temasek shows that e-commerce will contribute to nearly 60 percent of Indonesia’s overall online market, leaving behind online ticketing and ride-hailing booking services. “Through the retail stores, mobile applications […]

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Retail Asia16/11/2016

OPPO has officially established a partnership with e-commerce company Tokopedia to market its best products, such as its best-selling product OPPO F1s. “Our cooperation with Tokopedia is an added value to our customers throughout Indonesia,” OPPO Indonesia CEO Ivan Lau. Ivan said that OPPO’s customers who cannot be reached by OPPO’s physical stores will be able […]

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Retail Asia16/11/2016

Despite concerns about volatility in the financial markets for the remainder of the year, experts are upbeat that Indonesia can withstand the turmoil, citing sound fiscal and monetary conditions as the prime driver of hope. The domestic bond market is particularly a concern as investors will remain jittery over how the global economy will develop […]

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Retail Asia16/11/2016

Despite the seemingly robust investment coming from China, the government claims it has not forgotten Japan and stresses that its foreign investment and trade policies are not all about China. China beat Japan to secure the contract for Indonesia’s first high-speed railway project connecting Jakarta and Bandung in West Java. Furthermore, President Joko “Jokowi” Widodo […]

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Retail Asia16/11/2016

Indonesia is the world’s second largest pepper producer. In 2013, Indonesia’s pepper production reached 88,700 tons, or an 18.8 percent worldwide market share. Indonesia has the world’s largest pepper production area with 178,000 hectares. However, the productivity of Indonesia’s pepper production area is only at 0.5 tons per hectare. “The productivity is low despite having […]

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Retail Asia16/11/2016

Bank Indonesias governor Agus Martowardojo has launched the Financial Technology (Fintech) Office that will serve as a think-tank in developing the financial services industry. “Technology innovation in financial sector is now a must. Therefore, innovation must be a continuous process,” Agus said in his speech while opening the Fintech Office here on Monday. He explained […]

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Retail Asia15/11/2016

The Indonesian branch of US-based Citibank saw its net profits rise in the third quarter of this year despite the ongoing global economic downturn and sluggish domestic demand. The bank’s net profits surged by 64 percent year-on-year (yoy) to Rp 1.9 trillion (US$142.32 million) during the January-to-September period, according to a statement issued on Sunday. […]

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Retail Asia15/11/2016

Indonesias wheat flour consumption is expected to increase steadily with favorable growth of wheat-based culinary business, a businessman said. “The increased consumption of wheat flour is correlated to the increased number of cafes. In a cafe, usually customers would not order for rice but cakes that use wheat flour as its basic material,” Marketing Manager […]

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Retail Asia15/11/2016

Indonesia has an important role and can take advantage of tourism development in the maritime silk route of the 21st century in China, according to China National Tourism Administration (CNTA) Information Center Director Cai Jiacheng. “Indonesia has its own uniqueness as a global tourist destination, especially for the countries along the maritime silk road of […]

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Retail Asia15/11/2016

Coffee shop ventures generate significant economic potentials in Jogjakarta, and it can reach Rp350.4 billion a year, generated from 800 coffee shops in the city. “The current economic realization that comes from 600 registered coffee shops in Jogjakarta reaches Rp262.8 billion per year,” the owner of Pitutur Coffee Shop Ponco Kusumo in Jogjakarta said on […]

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Retail Asia15/11/2016

President Joko Widodo, along with Singapores Prime Minister Lee Hsien Long, launched the Kendal Industrial Park in Central Java Province as a new model of bilateral economic relationship. “Prime Minister Lee and I agreed that the investment cooperation in Kendal Industrial Park marks a new milsestone in our bilateral relationship, particularly in the investment sector,” […]

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