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Indonesia has jumped three places in a global competitiveness ranking in 2021 thanks to its economic resilience amid the Covid-19 pandemic, the improvement in government efficiency, and rising confidence among its businessmen. The largest economy in Southeast Asia moved up three places to 37th among 64 economies assessed by the institute, based on recent statistical data and interviews with business executives operating within their respective territories. Indonesia's performance was in contrast to some of its neighbors, which saw their competitiveness ranks dropped due to the Covid-19 pandemic. Singapore lost the top position it held for two years in a row to Switzerland. The pandemic created havoc on the island nation's job market and undermined its service-based economy. The Philippines's economy also saw the unemployment rate doubled to more than 10 percent and deterioration in public ­nance and businesses' productivity, which lead to a seven-place drop to 52nd place — the sharpest drop in the region. https://jakartaglobe.id/business/indonesia-improves-in-world-competitiveness-ranking

  Factory activity in Indonesia slowed in June 2021 after three consecutive months of record-high expansion as the country faced a fresh wave of pandemy. The manufacturing purchasing managers’ index (PMI), a gauge of factory activity based on a monthly survey of 400 manufacturers, stood at 53.2 in June. The latest reading, which marks the ­rst slowdown in three months, was a result of easing new export work, output and new order growth as well as slower purchasing activity due to a more cautious attitude among ­rms. This was in line with a softer increase in new orders, while growth in export work eased to a three-month low. At the same time, buying levels eased, despite a stronger depletion of raw materials and semi-fi­nished items. Meanwhile, supplier performance deteriorated at the fastest rate since January.

Indonesia launched Southeast Asia’s fi­rst new airline in the past ten years. Super Air Jet's establishment represents a strategic defense move from Rusdi Kirana, who reportedly backed the airline.  Super Air Jet will operate the new 320-200 with a maxed-out con­guration of 180 economy class seats. It would reintroduce a 'super' low-cost segment to Indonesia's air travel market, aiming speci­cally to cater to the young air travel customers. The youth segment will continue to grow rapidly, and Super Air Jet is ready to cater to that market with "Super Cost" offering, which offers the cheapest airline services possible to make them more affordable.    https://jakartaglobe.id/business/super-air-jet-sets-up-wider-postpandemic-moat-for-rusdi-kiranas-empire

 The merger between Gojek and Tokopedia is expected to consolidate their positions as major players in Southeast Asia’s digital economy amid rising competition, particularly from Singapore-based companies, that led the two to lose ground in recent years, even in their home in Indonesia.   Jakarta-based ride-hailing company Gojek and e-commerce platform Tokopedia, both of which are unicorns, announced their merger on Monday with the establishment of GoTo Group, the country’s biggest start-up in terms of valuation at an estimated USD 18 billion. The merger enables GoTo to better compete with the likes of Singapore-based ride-hailing giant Grab, worth an estimated USD 14.3 billion, and Singapore’s SEA Limited, the publicly listed parent company for e-marketplace Shopee, which is worth USD 112.59 billion.         https://www.thejakartapost.com/news/2021/05/17/gojek-tokopedia-merger-to-boost-ris-place-in-regional-digital-economy.html

                            Amazon.com Inc posted a pro­t that was double Wall Street targets, thanks to the retailer’s younger, higher-earning businesses, including cloud computing and advertising. The report was a relief to investors in the U.S. technology sector. For instance, the company is working to ship food from Whole Foods Market stores across the United States, in an ambitious attempt to bring groceries into the age of online retail. Amazon’s spending typically climbs in the summer quarter, pressuring pro­ts as the company prepares for Christmas and the winter holidays, its peak sales period each year. Yet the company said it expects an operating pro­t between $1.4 billion and $2.4 billion, up from $347 million a year earlier. The company also reported a second-quarter pro­t of $2.5 billion, its largest ever.   https://www.reuters.com/article/us-amazon-com-results/amazon-earnings-skyrocket-on-cloud-computing-advertising-idUSKBN1KG2WB

The transaction value recorded during the 40-day event at the 51st Jakarta Fair was Rp7.3 trillion.  The transaction value increased from 2017's Rp6.6 trillion. This year's Jakarta Fair absorbed 40,000 to 50,000 laborers, and attracted 6.7 million visitors. https://en.tempo.co/read/919648/jakarta-fair-transaction-value-at-rp73tn-anies-says

                            Assuming that the 2018 Asian Games will be successful, it will boost the country’s tourism industry and produce economic bene­ts. According to Tourism Minister Arief Yahya, the upcoming Games aim to welcome 250,000 supporters from ASEAN and other Asian countries, which will allow visitors from participating countries to embrace the land and culture of Indonesia. In addition, these visitors may feel inclined to visit other islands of the archipelago. While tourism in Indonesia has more than doubled over the past decade to become a major driver of the economy, the Asian Games may help achieve the goal of the government to “replicate the success of Bali as a tourist destination in a number of other locations spread across Indonesia”. The combination of athletes, officials, supporters and spectators expected to be present brings high hopes to the Indonesian economy. Bambang Brodjonegoro, Minister for National Planning (Bappenas), estimates that hosting the Asian Games will facilitate a cash flow of Rp. 45.1 trillion to the Indonesian economy in addition to bringing Rp. 34 trillion worth of investment in infrastructure for the organization of the event. The 18th Asian Games signify not only a fun and meaningful event to the region and the world, but also provide that push Indonesia needs to keep going.   http://www.thejakartapost.com/travel/2018/06/28/2018-asian-games-time-for-indonesia-to-shine.html

China’s trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace. The U.S. container port peak season is traditionally driven by orders for Chinese-made clothing, electronics and toys for the back-to-school season running from June to September, and then the winter holiday season. The volume of loaded shipping containers from China to all U.S. ports was up 6.3 percent in June from a year earlier after falling 6.9 percent in May and 3.9 percent in April, said Gene Seroka, executive director of the Port of Los Angeles, the busiest U.S. container port and No. 1 hub for ocean trade with China. The data came after the administration of U.S. President Donald Trump raised the stakes in its trade row with China, saying it would slap 10 percent tari­ffs on an extra $200 billion worth of Chinese imports, including numerous consumer items. China’s trade surplus with the United States, which is at the center of the tariff­ tussle, widened to a record monthly high of $28.97 billion, up from $24.58 billion in May, according to Reuters calculations based on official data going back to 2008. China’s June exports rose 11.3 percent from a year earlier, China General Administration of Customs reported, beating forecasts for a 10 percent increase according to the latest Reuters poll of 39 analysts.   https://www.reuters.com/article/us-china-economy-trade/chinas-june-exports-jump-surplus-with-us-at-record-high-idUSKBN1K30BM