Tuesday , October 17 2017
Breaking News


Indonesia revises up Aug exports, imports


JAKARTA: Indonesia’s statistics bureau on Monday said it had revised the value of August’s exports and imports, but maintained the trade surplus figure. August exports were revised up to $15.23 billion from $15.21 billion, while imports were revised to $13.51 billion from $13.49 billion. The bureau maintained Indonesia’s trade surplus in August at $1.72 billion. The bureau on Monday gave ... Read More »

Indonesian police seized record 3.7 tons of controlled substances last year


  JAKARTA: Indonesian narcotics police seized 3.7 tons of controlled substances last year (2016), as ramped up raids led to hundreds of shipments being intercepted in the country’s war on drugs. About 1,230 suspects, including 21 foreigners, were nabbed in more than 800 operations by the National Narcotics Agency (BNN). The total drug seizure and arrests were significantly higher than ... Read More »

Difficult to achieve Indonesia’s tax-to-GDP ratio target in 2017


  JAKARTA: Her view is based on: (1) the country’s limited tax revenue collection so far this year, (2) Indonesia’s structural bad track record in terms of achieving tax revenue and ratio targets, and (3) the fact that we are approaching the year-end, hence there remains limited time to boost tax revenue. Indonesia’s tax revenue realization reached IDR 770 trillion ... Read More »

Indonesia looks to consolidate procurement rules


  JAKARTA: The Indonesian Ministry of Defence (MoD) said on 9 October that it will review its defence procurement procedures with a view to introducing a consolidated policy. The aim is to simplify processes and enhance transparency, it said. The MoD said the review is necessary in light of “different perceptions” about defence acquisition processes in the country, which has ... Read More »

Indonesia’s inflation at six-month low


JAKARTA: Indonesia’s consumer prices increased 3.72% year over year in September and 0.13% on a monthly basis, per the Central Statistics Agency. The country’s core inflation, which excludes volatile items such as food prices, increased 3% year over year in September compared with 2.98% in August. The inflation is well within the central bank’s target range of 3-5%. Moreover, it ... Read More »

Bank Indonesia suspends unlicensed e-wallets


JAKARTA: Leading Indonesian e-commerce startups have had to partially suspend e-wallet operations until they are granted a license by the central bank, as the growing popularity of the electronic services attracts greater regulatory scrutiny. These include Tokopedia, which recently announced it will raise $1.1 billion from Alibaba Group Holding and other investors; Shopee, a unit of Singapore-based Sea, which recently ... Read More »

Indonesia’s Sept annual inflation rate eases, hits 6-mth low


JAKARTA: Indonesia’s annual inflation rate eased for a fourth month in September to its lowest since March on the back of a continued decline in food prices, the statistics bureau said on Monday. Annual headline consumer prices rose 3.72 percent in September, compared with a growth of 3.82 percent in August. Analysts polled by Reuters had expected 3.67 percent. On ... Read More »

Bank Indonesia under pressure from falling inflation


JAKARTA: Bank Indonesia has cut rates in the face of a steady slide in inflation, and some observers believe it may have to take further action this year. Following the meeting ending on September 22, Bank Indonesia unexpectedly announced it was lowering the seven-day reserve repo rate by 25 basis points, to 4.25%. The central bank likewise cut its policy ... Read More »

Bank Indonesia cuts key rate again to fire up growth

Bank Indonesia (formerly called De Javasche Bank) is the central bank Indonesia

JAKARTA: Indonesia’s central bank today cut its main interest rate for the second consecutive month, wrongfooting most analysts as it seeks to support sluggish lending and consumption holding back growth in South-east Asia’s biggest economy. Policymakers in Indonesia have been struggling to lift the economic growth rate, which has remained around 5 per cent in each of the past four ... Read More »

Exim-Indonesia seek to expand infrastructure investment


JAKARTA: Seeking to expand the investment opportunities of South Korean companies in the profitable Southeast Asian infrastructure market, the Export-Import Bank of Korea has hosted a forum to encourage business in Indonesia, according to officials Thursday. The Indonesia Infrastructure Investment Forum was held Wednesday at Millennium Seoul Hilton jointly by Eximbank and Indonesia’s Ministry of National Development Planning, upon the ... Read More »

Indonesian startups raised $3 bn in 53 investment deals in 2017


INDONESIA:  the land of a thousand kings. An exotic country chock-full of beauty, culture and a rich heritage. Home to more than 261.1 Mn people spread across 17,508 islands, Indonesia has undergone dramatic urbanisation in the last couple of years. Today, it boasts a thriving startup ecosystem. As per a report by Google and management consulting firm AT Kearney, in ... Read More »

Australia-Indonesia free trade talks going round in circles


JAKARTA: The latest press conference on free trade deal negotiations between Australia and Indonesia felt a lot like Groundhog Day. Australian Trade Minister Steven Ciobo and Indonesian Trade Minister Enggartiasto Lukita proudly told the assembled media that Indonesia will reduce tariffs on imported Australian raw sugar and Australia will eliminate import duties on Indonesian herbicides and pesticides. Only problem is ... Read More »

Bank Pan Indonesia Tbk (PNBN.JK) shares tick down -1.91%


JAKARTA: Shares of Bank Pan Indonesia Tbk (PNBN.JK) have been trending lower over the past five bars, revealing bearish momentum for the shares, as they ran -1.91% for the week.  Looking further out we note that the shares have moved -4.21% over the past 4-weeks, 17.82% over the past half year and 17.14% over the past full year. Bank Pan ... Read More »

Bank Indonesia supports productive migrant village program


JAKARTA: Synergy and cooperation is needed to make the government’s Productive Migrant Villages (Desmigratif) program successful. Therefore, Bank Indonesia (BI) is ready to support Micro, Small and Medium Enterprises (MSMEs) from the Desmigratif program through BI’s payment and development system the central bank provides. Sugeng, Deputy Governor of Bank Indonesia (BI), conveyed his support for for the Desmigratif program through ... Read More »

Singapore, Indonesia sign MOUs, launch stamps to mark 50th year of bilateral ties


SINGAPORE:  Singapore and Indonesia on Thursday (Sept 7) signed a slew of agreements on education as well as disaster relief, as both nations commemorated five decades of diplomatic relations. The signing of the Memorandums of Understanding (MOUs) were witnessed by Prime Minister Lee Hsien Loong and Indonesian President Joko “Jokowi” Widodo, after they held talks at the Istana. Both leaders ... Read More »

Korea-ASEAN FTA support center opens in Jakarta


SEOUL/JAKARTA: South Korea has established a support center for businesses operating in Jakarta to serve as a help desk on the bilateral free trade agreement (FTA) with the Southeast Asian country, the Ministry of Trade, Industry and Energy said Tuesday. The center was set up at the Korea Trade-Investment Promotion Agency (KOTRA) office in the capital city of the Association ... Read More »

Indonesian State firms ready to buy Freeport shares: Ministry


JAKARTA: The State-owned Enterprises (SOEs) Ministry has said that SOEs are ready to take over the 51 percent shares of PT Freeport Indonesia, once the company divests its shares as part of the new contractual terms that are being ironed out with the government. “We have submitted letters since last year that the SOEs are ready to take over Freeport ... Read More »

Indonesian firm to pump in $1b to Vietnam coal port


JAKARTA/HANOI: Indonesian firm Intra Asia Indonesia has entered a deal to build a coal import port in southern Vietnam, local reports said. The project will involve a $1bn investment to build a port with capacity of 15m to 20m tons of coal per year. The memorandum of understanding (MoU) between Intra Asia and Hong Pat Coal and Resources is aimed ... Read More »

Indonesia agrees to increase fruit import quota for Pakistan


JAKARTA: Indonesia has agreed to expand the quota and period for import of fruits from Pakistan under the preferential trade agreement, an official told Dawn on Thursday. Pakistan’s exports to Indonesia have dropped by almost $100 million ever since the implementation of preferential trade agreement (PTA), whereas, Indonesia’s exports have almost doubled during the post preferential treaty. Both sides have ... Read More »

Indonesia, Pakistan opt for concession on 20 items


JAKARTA: Indonesia and Pakistan have agreed on concession for 20 different items during bilateral negotiation under Preferential Trade Agreement (PTA). Both sides discussed 20 tariff lines and Indonesia agreed to give concession on major exports from Pakistan including rice, textile, ethanol, kinnow and mangoes during renegotiation on PTA, senior official of Ministry of Commerce told APP here on Sunday. Concession ... Read More »