JAKARTA (The Jakarta Post/ANN): Indonesia’s economy was still in the recession zone in the first quarter of 2021. It shrank 0.74 per cent year-on-year (yoy) despite the expansive fiscal measures, accommodative monetary policy and the Covid-19 vaccine rollout.
A customer buys groceries at a branch of PT Hero Supermarket at Lagoon Avenue in Bekasi, West Java, in this December 2018 file photo. - JP
JAKARTA (The Jakarta Post/ANN): Publicly-listed retail group PT Hero Supermarket plans to close all of its Giant supermarket outlets by the end of July to improve its finances after the pandemic whammed Indonesia’s retail industry.
The group, which operates 75 Giant outlets according to its website, saw its revenue drop 34 per cent year-on-year (yoy) to Rp 1.7 trillion (US$118 million) in this year’s first quarter as mobility restrictions limit shop operating hours and shifted more consumption online.
Agriculture Minister Syahrul Yasin Limpo (second right) visits Tanihub s National Fulfillment Center in Cikarang, Bekasi, West Java on April 21, 2021. He is accompanied by TaniHub Group CEO Pamitra Wineka (right) and chief operating officer Sariyo (left). - Courtesy of Tanihub
JAKARTA (The Jakarta Post/ANN): TaniHub Group, one of Indonesia s top agriculture technology start-ups, has raised US$69.5mil (Rp 942 billion) in a Series B funding round to expand its supply chain outside the islands of Java and Bali.
The start-up said in a statement on Friday (May 21) it would use the new funds to build more “mini hubs” of warehouses or packaging facilities across the archipelago with an aim to boost transactions and exports of fresh products by volume.
JAKARTA (The Jakarta Post/ANN): Local and foreign digital service providers have been granted a six-month grace period to register with the government as mandated by a recent regulation that grants the state sweeping authority to censor digital content.