Economy - Tempo Magazine | English Edition Tempo Magazine | English Edition


  • A New Risk amidst Economic Recovery
  • Low Tourism, Slow Economy

    Low Tourism, Slow Economy

    Central tourism regions are having a hard time recovering after the pandemic struck. New problems emerged in other sectors of the economy.

  • The Dream of Cinema’s Recovery

    The Dream of Cinema’s Recovery

    National film business is still reeling from the impact wrought by the Covid-19 pandemic. The government is campaigning for moviegoers to return to cinemas to help the industry recover.

  • Back to Live

    Back to Live

    The government and event organizers are preparing to bring back live music performances in times of a pandemic. It has been a long and winding road towards the revival of tourism.

  • Budget Discipline under Threat
  • The Megaproject Contractor’s Burden

    The Megaproject Contractor’s Burden

    The Balongan refinery exploded when the refurbishment project had just started. It became a new problem for Pertamina amidst other difficulties in running the refinery mega project.

  • The Smell of Gasoline across the Refinery

    The Smell of Gasoline across the Refinery

    Leakage of the T-301G tank is believed to be the cause of a big fire at the Balongan refinery. The management ignored community reports on strong gasoline smell prior to the fire. Losses are estimated in the trillions of rupiah.

  • An Important Lesson from Turkey
    Market Pulse

    An Important Lesson from Turkey

    The lesson from Turkey is clear. Central bank’s independence is the anchor of market confidence. If Indonesia does not want to share the same fate as Turkey and lose its credibility, the government needs to immediately figure out, one way or another, how to reduce its budget deficit.

  • Fueled by Pipe Purchase

    Fueled by Pipe Purchase

    The government overhauled the directors of a Pertamina subsidiary. The decision came after a procurement of refinery project's goods, which was considered not meeting the domestic component requirements.

  • Catch Me If You Can

    Catch Me If You Can

    The police named Sadikin Aksa, former Bosowa Corporindo CEO, as a suspect in a banking fraud case. It is regarded as a backlash against Bosowa's victory in court.

  • Bond’s Danger Signal
    Market Pulse

    Bond’s Danger Signal

    Inflation in the US, which might trigger an interest rate hike by the Fed and reduced liquidity injection, is becoming the biggest fear of emerging markets, including Indonesia. Investor’s money which has been anchored here might just return home, in great numbers and fast.

  • Survival Mission

    Survival Mission

    The government sets out to release new antidumping policies and national standards for steel products, in response to local industries' complaints against the onslaught of imported goods.


  • The Mysterious Letters

    The Mysterious Letters

    The letter of exemption from the trade ministry, owned by a number of steel importers, raised suspicions. Looking into several old government projects, the letter is suspected to have been used as cover-up allowing dozens of containers of steel to be imported without verification.

  • The Trillion Dollars Bet on the Inflation
  • Investigations Lead to Management Overhaul

    Investigations Lead to Management Overhaul

    The alleged corruption implicating Asuransi Kredit Indonesia (Askrindo) sparked up improvement plans in the parent company of state-owned insurance and underwriting firms. There are problems in the insurance agent business regulations.

  • Independent Auditor Investigates Findings at Askrindo

    Independent Auditor Investigates Findings at Askrindo

    Investigation by an audit committee formed by Askrindo's board of commissioners of the company’s finance in 2019 found indications that the commission paid to Askrindo Mitra Utama (AMU), a subsidiary which is also an insurance sales agent, was a cover for bribes to the company board of directors. Robertus Bilitea, Chief Executive Officer of Indonesia Financial Group (IFG), a state-owned insurance holding company, answered Tempo’s questions regarding the alleged corruption within one of IFG’s subsidiaries.

  •  Fees for the 8th Floor

    Fees for the 8th Floor

    Askrindo is implicated in another corruption allegation. The company's board of directors are suspected of collecting money from the fees for insurance sales agents.

  • Four Vulnerable Fellows
    Market Pulse

    Four Vulnerable Fellows

    Indonesia has been included by HSBC analysts as one of the four emerging markets that are most vulnerable should the global financial market fall into panic, alongside Brazil, Mexico and South Africa

  • The Haunting Ghost of 2013
    Market Pulse

    The Haunting Ghost of 2013

    Central banks indeed have rescued the capitalist, financial asset owners and investment management institutions, but they have not helped the ordinary businessmen in the real sector that must fight for their daily life in the streets.

  • Low Factory Utilization Is Very Dangerous

    Low Factory Utilization Is Very Dangerous

    The Indonesian Automotive Manufacturers Association (Gaikindo) Secretary General Kukuh Kumara believes that the government plan to cut luxury goods sales tax (PPnBM) on new 1,500cc cars will have a big impact upon economic growth. 

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