Textile and garment industry remains facing pressure from growing entry of imported products. Some local producers have reportedly stopped production as the inventory has been piling up. Unfortunately, the current subsidized-fuel price hike by over 30% would also impact textile and garment industry as the people purchasing power will weaken. Fuel price hike also lead to higher logistic costs, pressing even more the already thin margin.
Read MoreNewcastle coal futures, the benchmark for top consuming region Asia, skyrocketed to a new record high of around $460 per ton, supported by continued robust demand and persistent supply disruptions exacerbated by the war in Eastern Europe. This strong price should help Indonesian State Budget, especially with higher royalties from IUP miners in the last quarter of the year.
Read MoreFlag carrier Garuda Indonesia (GIAA) expects to raise Rp12.4 trillion from rights issue. The airline also expects PT Trans Airways, controlled by Chairul Tanjung’s TransCorp, will participate. Cassation filed by two lessors, however, might delay the rights issue.
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