Jakarta. The property market in Indonesia may go through the same cycle as in China, which has entered a mature phase where developers see sales bottoming out, increased competition, and more rapid consolidation, Standard & Poor’s Ratings Services said in a report.

Jakarta. National flag air carrier Garuda Indonesia lost Rp 8.5 billion ($638,600) due to flight cancellations caused by a fire at Soekarno-Hatta International Airport last week, according to a top executive at the airline. The bulk of losses were made up of compensation — flight refunds and accommodation costs — for passengers whose flights were delayed or canceled, said Arif Wibowo, president director of Garuda Indonesia. “Someone had quoted that our loss reached Rp 5 billion.