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Jakarta. Indonesia announced Monday that it had welcomed over 5 million international travelers in the first five months of 2024, although this means that the country still has a long way to go before it reaches the halfway mark for the full-year target of foreign tourist arrivals. According to the Central Statistics Agency (BPS), the number of foreign tourists in Indonesia surged to 5.2 million travelers in the January-May period. Data showed that Indonesia recorded almost 3 million foreign tourists in January-May 2020, and the number dropped to 604,471 travelers in 2021, and 997,432 tourists the following year. It then…

This study aims to examine risk management in Cash Waqf Linked Sukuk (CWLS). CWLS is a new scheme in Indonesia initiated by the Indonesian Waqf Board (BWI) which also acts as Nazir in the CWLS scheme. Abstract This study aims to examine risk management in Cash Waqf Linked Sukuk (CWLS). CWLS is a new scheme in Indonesia initiated by the Indonesian Waqf Board (BWI) which also acts as Nazir in the CWLS scheme. The CWLS scheme is a new innovation for Cash Waqf in Indonesia which has good prospects in the future. This Risk Management Research is limited to risk…

JAKARTA, Indonesia, July 8, 2024 /PRNewswire/ — Carrier Transicold, together with Indonesia distributor PT. Midthern Technologies, joined Cold Chain Expo recently. Carrier Transicold is part of the Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions. PT. Midthern Technologies is authorized as one of the Carrier Transicold distributors in Indonesia since 2023 and is part of one of the leading cold chain equipment manufacturers and service providers in Indonesia. More than tens of thousands visitors and exhibitors, including the Indonesian Cold Chain Association, the Indonesian Logistics Association, the Fisheries Association,…

TOKYO (AP) — The leaders of Japan and Indonesia agreed Wednesday to bolster their ties in maritime security and their cooperation on climate change, energy and investment between the Asian archipelago nations.Japanese Prime Minister Fumio Kishida, at a joint news conference after holding talks with Indonesian President Joko Widodo in Tokyo, said Japan will provide support to “further reinforce Indonesian maritime security capability to ensure peace and safety at sea in the Indo-Pacific region.”Kishida also announced that Tokyo is loaning 43.6 billion yen ($318 million) to fund Indonesian infrastructure projects and disaster prevention. Widodo’s Japan visit follows his trip to…

Chinese tourists are headed overseas for the extended May Labour Day holiday at near pre-pandemic levels, accelerating a rebound of what used to be the world’s biggest travel market.Outbound trips between April 27 to May 5, which includes the five-day break that started Wednesday, are just 7 per cent below 2019 levels, according to ForwardKeys, a travel forecaster that analyses air ticketing, travel agency and other industry data.A last-minute rush has seen bookings surge at a faster pace than was expected based on ticket sales at the beginning of April, according to the travel insights company. Meanwhile, domestic ticketing has…

Subscribe Stay current on your favorite topics 40% Indonesia represents approximately 40% of the ASEAN economy and population Indonesia represents approximately 40 percent of the ASEAN economy and population, and investors are particularly attracted to its strong economic growth and resilience. The construction industry has largely been considered the backbone of Indonesia’s economic and social development. In 2019, the construction industry registered an annual growth rate of 5.8 percent,5 and is expected to continue to grow throughout 2021 – 2024. Are there any restrictions on foreign investment? Foreign investment in Indonesia was first recognized in the Foreign Investment Law of…

t is indisputable that Indonesia has been grappling with deindustrialization over the past decade: The plummeting of manufacturing contribution to the gross domestic product (GDP) ratio from 27 percent in 2004 to 18 percent in 2022 and the slowing down of the investment-to-GDP ratio from 34 percent in 2013 to 27 percent in 2022.Compared with China, one of the world’s fastest investment and manufacturing-driven economies, Indonesia’s manufacturing- and investment-to-GDP ratios appear significantly lower, almost half that of China’s. Contrary to the perception that China’s strength lies in its low-cost labor, the reality is that China heavily invests in productive assets,…

JAKARTA: Indonesia has introduced tight security arrangements in Bali, as it prepares to welcome world leaders and thousands of international delegates for the G20 Summit next week. The world’s largest Muslim-majority nation this year holds the rotating presidency of the Group of 20 largest economies, which will culminate in a meeting of the heads of state and government on Nov. 15 and 16. The summit will take place on the island of Bali, one of the planet’s most popular holiday destinations, where Indonesia has previously hosted other major international events, including the World Bank Group and International Monetary Fund annual…

VATICAN CITY (AP) — Pope Francis will visit Indonesia, East Timor, Papua New Guinea and Singapore in September, the Vatican announced Friday, confirming the longest trip of Francis’ papacy that is sure to test his health, stamina and mobility.The Vatican confirmed the Sept. 2-13 visit, saying the 87-year-old pope would visit Jakarta, Indonesia; Port Moresby and Vanimo, Papua New Guinea; Dili, East Timor; and Singapore. Further details will be announced later.Francis’ health has become a source of increasing concern and speculation, even though the pontiff is able to carry on with a rigorous schedule of meetings at the Vatican and…

The World Bank, with support from the Swiss State Secretariat for Economic Affairs (SECO), has closely partnered with the Indonesian government to develop the DRFI strategy and continues to work with the government on its implementation. In January 2021, the World Bank approved a US$500 million lending operation to support Indonesia’s efforts to build and strengthen its financial response to natural disasters, climate risks, and health-related shocks such as the COVID-19 pandemic. The loan supports the establishment of a Pooling Fund for Disasters, that was legally created in August 2021 through a Presidential Regulation. It will serve as a central mechanism…