The Minister of Finance has signed the Regulation No. 138/2020 on procedures for the National Economic Recovery program, providing a subsidy ranging from 3% to 25% during the first three months. However, given the increase in unemployment rates and decreasing purchasing power, it has affected the ho... [read more]

In the period of July to September 2020, the number of air passenger traffic in Lombok Airport reached 204,632, increasing by 307.6% from 50,203 in the period of April to June 2020. The flight traffic in Lombok Airport also grew significantly in the third quarter of 2020 by 214.6% in line with the a... [read more]

Under the Omnibus Law on Job Creation, foreigners will be allowed to hold a (right-to-build) title ownership of a strata title for the high-rise residential or apartment. The regulation is contained in Article 144 of Cipta Kerja Regulation. In addition, the ownership title can also be pledged for ba... [read more]

The government will establish a Sovereign Wealth Fund (LPI) as one of the implementations of Cipta Kerja Regulation. The initial capital for LPI is set at Rp15 trillion. The establishment is specifically regulated in the central government investment chapter and in the eases of national strategic pr... [read more]

The Central Bank of Indonesia reported that the Consumer Confidence Index (IKK) in September 2020 declined from 86.9 in August 2020 to 83.4 in September 2020, indicating consumers’ confidence level toward the national economic condition. However, the average IKK in the third quarter of 2020 was reco... [read more]