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Monday , March 27 2017
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Indonesia

Garuda Indonesia reports net income US$9.35m for 2016

Garuda Indonesia

JAKARTA: Indonesian national airline PT Garuda Indonesia (Persero) Tbk and its subsidiaries maintained positive performance throughout 2016 with a net profit of US$9.36 million, or the equivalent of IDR 124.5 billion (exchange rate IDR 13.300 per US$), while carrying a total of 35 million passengers on both Garuda Indonesia and Citilink Indonesia. The positive achievement was detailed in the Group’s ... Read More »

Indonesia’s crude palm oil exports slip in February

palm oil

JAKARTA: Indonesia’s crude palm oil (CPO) output likely dropped in February, extending the decline into a third straight month. CPO production in the world’s top producer of the widely used oil likely slipped to 2.80 million tons in February from 2.95 million tons in January, according to the median estimate in a survey of two industry associations and a state ... Read More »

Indonesian Police foils attempt to smuggle 7kg crystal meth. at Tunon Taka Port

Indonesian Police foils attempt to smuggle 7kg crystal meth. at Tunon Taka Port

JAKARTA: The Nunukan Police foiled an attempt to smuggle 7 kilograms of crystal methamphetamine in an operation at Tunon Taka Port, Nunukan, North Kalimantan. The crystal meth was allegedly carried by a man who traveled from Tarakan on Pelni passenger ship KM Lambelu and arrived in Nunukan. “We notice the passenger was behaving suspiciously,” Nunukan Police chief Adj. Sr. Comr. ... Read More »

Indonesia plans to impose tax on e-commerce

tax on e-commerce

JAKARTA: Indonesia has an open ear for companies debating a planned e-commerce tax, but a tough fist for those that defy the levy, a government spokesman said. Tax Directorate spokesman Hestu Yoga Saksama said the office will announce the online tax by mid-2017, pushing the government deeper into a growing but unruly section of the internet where the likes of ... Read More »

Indonesia tax amnesty nets $330 billion

tax amnesty

JAKARTA: Indonesia this month is winding up one of world’s most successful tax amnesties, with at least 745,000 taxpayers declaring more than $330 billion of assets so far. President Joko Widodo has cited higher tax revenue as the key to boosting infrastructure spending and growth. But if the amnesty is to avoid being just a one-off windfall, Indonesia needs to ... Read More »

Indonesia eyes enhanced trade with Philippines

indonesia-philippines

JAKARTA: More robust trade between Indonesia and the Philippines, particularly within the areas of the Brunei-Indonesia-Malaysia-Philippines (BIMP) sub-regional grouping, is expected with the soon-to-be-launched Davao-General Santos-Bitung roll-on, roll-off (RoRo) cargo route and increased marketing initiatives. “During the last five years, the trade between the Philippine and Indonesia was only $4.5 billion with a growth rate of less than 1%,” Indonesian ... Read More »

Indonesia wants to be world’s fourth-largest ceramics producer

ceramics

JAKARTA: The Indonesian government aims to fully utilize the national production capacity of ceramics to make Indonesia the fourth-largest ceramics producer worldwide. Last year, Indonesia’s ceramics production reached 350 million square meters, or only 60.3 percent of its estimated total capacity of 580 million square meters a year. “Hence, we should increase it further. If we can reach 100 percent ... Read More »

BKSDA seizes protected wildlife from foiled smuggling attempts

BKSDA seizes protected wildlife from foiled smuggling attempts

EAST NUSA TENGGARA: The Indonesian Natural Resource Conservation Agency (BKSDA) foiled 37 wildlife smuggling attempts through El Tari Airport in Kupang in the first two months of this year. “From the figure we can say that NTT is in an emergency status in regards to the trade of protected animals and plants. The figure shows that public awareness around protected ... Read More »

Indonesian financing firm to get US$200m by World Bank, AIIB

world-bank

JAKARTA: The World Bank and the Asian Infrastructure Investment Bank (AIIB) will provide a state-owned Indonesian infrastructure financing firm with loans worth US$200 million for regional development, the World Bank said. PT Sarana Multi Infrastruktur (SMI) will receive US$100 million from the Washington-based lender under its Regional Infrastructure Development Fund (RDIF), the bank said, adding that the Beijing-based AIIB will ... Read More »

Indonesia’s economic growth expect to below 5.05%

indonesia_Flag

JAKARTA: Indonesia’s trade data is due on Wednesday, March 15 and economists expect export, import growth to have slowed in February. Indonesia’s exports and imports hit multi-year highs in the previous month and are likely to expand at a slower pace in February. According to details, Indonesia’s February trade balance probably narrowed to $1.22 billion, from $1.40 billion the previous ... Read More »

Indonesia to set 2-week deadline to solve Freeport row

Indonesia to set 2-week deadline to solve Freeport row
Freeport-McMoRan Inc

JAKARTA: Indonesia’s government has set itself a two-week deadline to resolve a dispute with Freeport-McMoRan Inc that has led to the suspension of copper concentrate exports from the world’s second-largest mine for almost two months. The Energy and Mineral Resources Minister Ignasius Jonan is working with Freeport to end the stalemate, said a senior government official, declining to be identified. ... Read More »

Indonesia keen to improve trade with Indian Ocean Rim Association

Indonesia keen to improve trade with Indian Ocean Rim Association

JAKARTA: The Indonesian government expressed its intention to explore the potential of 21 members of the Indian Ocean Rim Association (IORA), following the summit of the group in Jakarta early this week, Trade Minister Eanggartiasto Lukito has said. The agreement will be followed by bilateral agreements with each government in the group, particularly countries that have potential for Indonesian products, ... Read More »

DBS to launch mobile-only banking service in Indonesia

DBS to launch mobile-only banking service

SINGAPORE: The Development Bank of Singapore (DBS) plans to introduce a smartphone-based mobile banking option for the Indonesian market as a way to further digitalize the banks’ operations and utilize digital innovation to its advantage. Digital transformation is part of a larger agenda for DBS, seeing that the need for digitalization is no longer seen by the banking industry as ... Read More »

Indonesia: new favorite market for Taiwanese drug dealers

crime-drugs-smuggler

JAKARTA: With Taiwan having become a major supplier of narcotics to Indonesia in recent years, seven Taiwanese drug dealers have been sentenced to death and three others have been shot dead by police since 2015. At present, there are approximately 4.5 million drug users in Indonesia, including 1.2 million classed as “heavy addicts,” making it the largest drug market in ... Read More »

Indonesia eyes to increase LPG imports from Iran

indonesia-iran

JAKARTA: Wiratmaja Puja, Indonesia’s Director General of Oil and Gas at the Energy and Mineral Resources Ministry, said Jakarta plans to increase liquefied petroleum gas (LPG) imports from Iran. “We wish to add the amount of imported LPG from Iran at a discounted price, if possible,” Wiratmaja said. He added that the Indonesian government is seeking to double its import ... Read More »

Iran, Indonesia mull expanding ties

iran indonesia

TEHRAN: As two developing Muslim countries, Iran and Indonesia have always enjoyed many commonalities. The Islamic Republic of Iran as one of the most distinguished countries in the region is now in a path that Indonesia experienced in terms of growth in gross domestic product over past few years. The Iranian and Indonesian officials have always expanded their interactions since ... Read More »

Indonesia hopes better access Australian health market

indonesia-australia

JAKARTA: Indonesia is reportedly requesting its nurses and tourism workers to be provided with a better access to Australia’s labour market on the eve of Prime Minister Malcolm Turnbull’s visit to the country. The request is part of a free trade deal that the two countries are expected to sign before the year ends. Noke Kiroyan, president of the Indonesia ... Read More »

Indonesia to finalize financing scheme for LRT

Indonesia LRT

JAKARTA: The Indonesian government is finalizing the financing scheme for the light rapid transit (LRT) project in Greater Jakarta, Transportation Minister Budi Karya Sumadi said. “We already know [the financing scheme], [but] I don’t yet know the amount [of the final valuation of the project],” he said. State-owned railway operator Kereta Api Indonesia (KAI) could be the main investor in ... Read More »

Indonesian AQA nabs a snake smuggler at Jakarta

Agricultural Quarantine Agency Indonesia

JAKARTA: The Soekarno-Hatta International Airport Agricultural Quarantine Agency thwarted a smuggling attempt of two pythons, locally known as sanca batik. “We teamed up with [the post office] Pos Indonesia to uncover this smuggling case,” said the Agency’s head Banun Harpini. The snakes were in a box that was sent through air service of Pos Indonesia. However, when the box was ... Read More »

Indonesia, Iran eyes to strengthen banking ties

Indonesia, Iran eyes to strengthen banking ties

JAKARTA: A delegation from the Central Bank of Iran met with Indonesian officials to build banking ties and expand commerce between the two countries. Ahmad Azizi, a senior advisor to CBI governor, Valiollah Seif, was at the head of the delegation that met in Jakarta with officials representing Indonesian banks, the coordinating ministry for economic affairs and the Financial Services ... Read More »