Indonesia continues to divert its resources from its agricultural sector, causing it to import various food staples and risking the nation’s independence, agriculture researchers have said.
Indonesia has a vast land and sea territory with around 70 percent of its 240 million population being employed in or dependent on the agricultural sector. However, the country continues to depend on imports to fulfill its citizens’ basic food needs.
Pan Brothers, one of Indonesia’s leading garment manufacturers, reported a surge in profit last year on the back of growing demand locally and internationally.
Elnusa, an Indonesian oil and gas drilling services company, has set its capital expenditure at Rp 1.2 trillion ($105 million) to support its expansion plans for this year.
Indonesia’s antimonopoly commission has approved a planned merger by XL Axiata and Axis Telekom Indonesia, the latest of such approvals after other regulators made gave their go-ahead.
Pertamina Lubricants, a unit of the state energy company Pertamina that produces engine oil and brake fluid, is planning to spend Rp 1.3 trillion ($114 million) to finance two new high-quality lubricant factories.
OCBC NISP Bank, one of Indonesia’s 10 largest lenders, plans to raise Rp 3 trillion ($263 million) by selling bonds this year to help boost its lending activities.
Indonesian retail sales made their swiftest jump in seven months in January, indicating that private spending remains robust in Southeast Asia’s largest economy.
Former England one-day international captain Adam Hollioake led his team to win the Legends V Java Tour after defeating Australia, led by former Australian captain Graham Yallop, by three wickets at Taman Olahraga Pancawati International in Bogor, West Java, on Sunday.