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Indonesia shares likely to remain rangebound


JAKARTA: Indonesia stock market has alternated between positive and negative finishes through the last six trading days since the end of the three-day slide in which it had surrendered almost 100 points or 1.5 percent. The Jakarta Composite Index now rests just above the 6,580-point plateau although it’s expected to turn higher again on Monday.The global forecast for the Asian ... Read More »

WB meetings to promote Indonesia at global level


JAKARTA: The International Monetary Fund-World Bank (IMF-WB) Annual Meetings scheduled in Bali on October 2018 will promote Indonesia’s economic potential at the global level, Coordinating Maritime Affairs Minister Luhut Panjaitan stated. The meeting can offer several benefits to Indonesia, including promoting it at the international level,” Panjaitan noted here last Thursday. The minister had undertaken a tour of the Mandalika ... Read More »

Income tax treatment under tax treaties reregulated


JAKARTA: Foreigners and Indonesian nationals are under Regulation 202/2017 entitled to certain preferential income tax treatments, under the following conditions: These treatments are stipulated under each individual tax treaty between Indonesia and foreign countries. The Regulation 202/2017 acknowledges that these preferential income tax treatments will remain in place until the expiry of the related tax treaties. Foreigners or Indonesian nationals ... Read More »

Indonesia February sumatra coffee exports drop


JAKARTA; Indonesia exported 4,042.1 tonnes of coffee beans from Lampung province in February, local government data showed on Thursday, a 72 percent decline from the 14,321.7 tonnes of beans shipped in the same month a year earlier. This was the sixth month of decline in exports from Indonesia’s largest coffee producing region. Read More »

Indonesia central bank nominee to be ‘pragmatic’ on growth says minister


JAKARTA: Indonesian Finance Minister Sri Mulyani Indrawati said yesterday she expected the nominee for the next central bank governor to continue to focus on stability and taming inflation, while adopting a “pragmatic” approach to boosting growth. President Joko Widodo’s selection of Perry Warjiyo, a longtime deputy governor of Bank Indonesia, to succeed Agus Martowardojo, was confirmed on Saturday. In her ... Read More »

Indonesia Singapore exchange financial information


JAKARTA: Indonesia and Singapore will begin to implement the Automatic Exchange of Information (AEOI) agreement in September 2018, according to Indonesia’s Antara news agency. John Hutagaol, a tax expert of Indonesia’s Finance Ministry, said the Indonesian Government is preparing regulations, infrastructure, as well as human resources for the implementation of the agreement. On the other hand, Singapore will automatically share ... Read More »

Indonesia postpones move requiring coal exporters to use national carriers


JAKARTA: Indonesia has postponed the implementation of a regulation that would require coal exporters to use national maritime carriers and domestic insurance services, amid concerns about the impact on international trade, sources said this week. The government has given its trade ministry up to a year to revise the policy, the sources said. “I think it is right for the ... Read More »

Indonesia concerned about Vietnam’s strict new car import regulations


JAKARTA: Already facing sluggish demand at home, Indonesia’s four-wheel car manufacturers now face a bleak export future due to a new regulation issued by Vietnam designed to protect its own developing automotive industry. The new regulation stipulates that traders are only permitted to import automobiles if they can provide valid vehicle registration certificates issued by authorities from the countries of ... Read More »

Indonesia upbeat to see higher exports after large non-oil gas trade growth in January


JAKARTA:  Indonesian Trade Minister Enggartiasto Lukita expressed his optimism here on Thursday of the country’s improving exports this year after significant growth in its non-oil and gas exports last month. The non-oil and gas export improvement was a good start to support national export targets this year,” the minister said. The nation posted exports of 14.45 billion U.S. dollars last ... Read More »

Indonesia to revise tax incentives in bid to lift investment


JAKARTA:  Indonesia will revise its tax incentives and offer them to a larger number of business sectors, in a bid to attract more investment, the finance minister said. Tax allowance and tax holiday rules, last revised in 2016, had failed to attract a significant amount of investment into South-east Asia’s biggest economy, Finance Minister Sri Mulyani Indrawati told reporters on ... Read More »

Indonesia to be world’s largest wheat importer


JAKARTA: Indonesia is set to be the world’s largest wheat importer as the country’s drive for self-sufficiency in corn has led to shifts in its overseas purchases. According to USDA’s latest estimates, Indonesia is expected to import 12.5 million tonnes for the 2017-2018 marketing year, surpassing Egypt. “Indonesia is now the leading global wheat importer,” said USDA. The rise in ... Read More »

Indonesia eyes lax palm oil rules in EU trade deal


JAKARTA: Palm oil giant Indonesia is pressing the European Union to abandon plans to apply strict environmental standards to the sector and silence ‘negative’ criticism about the commodity, documents obtained by AFP have revealed. The papers, marked “’not for publication’ and for distribution only on a ‘need to know’ basis, reflect Jakarta’s wish list for a critical industry as the ... Read More »

Indonesia central bank keeps policy rate unchanged eyes volatile markets


JAKARTA: Indonesia’s central bank kept its policy rate unchanged on Thursday as expected, as it looks to maintain stability in the struggling rupiah following an unexpected spike in global volatility. Here is the official translation of the Bank Indonesia statement, with some editing by Reuters. The original was in Indonesian: The BI Board of Governors agreed on 14th and 15th ... Read More »

Indonesia set to become world’s biggest wheat importer


JAKARTA: Indonesia have grown rapidly due to rising domestic demand for food and animal feed. Not only is the Indonesian population huge and expanding, it is also characterized by a rapidly growing middle class segment as well as the process of urbanization that gives rise to “urban lifestyles” (influenced from the West). This causes a shift in consumer behavior toward ... Read More »

Palm oil supply could decline due to replanting in Indonesia


JAKARTA: Exports came in stronger than expected with 6% growth month-on-month (m-o-m) as the temporary suspension of crude palm oil (CPO) export tax price effective Jan 8, 2018 boosted demand from major consumers such as India and Pakistan. Against last month, inventory level declined by 7% as export grew by 6% while production declined by 13.5%. We gather that exports ... Read More »

Indonesia promises speedier licensing offers tax incentives


JAKARTA: Finance Minister Sri Mulyani Indrawati has said that the government will continue to reform its regulations and had offered incentives in an effort to boost investment. Speaking on Monday in Jakarta, she said that the government would further eliminate regulations that could disrupt investment to help speed up the licensing process for investors. Sri Mulyani added that the central government would ... Read More »

Indonesian Navy nabs MV Sunrise Glory carrying a ton of methamphetamine


JAKARTA: The Indonesian Navy has finally nabbed MV Sunrise Glory and four Taiwanese crew members for smuggling one ton of crystal methamphetamine drugs into Indonesia. The vessel in disguise of a fishing boat, was arrested by Indonesia`s war ship Sigurot 864 in the Philip Channel, near islands off Batam, in the water border between Indonesia and Singapore, on Wednesday at ... Read More »

Indonesia set to overtake Egypt as world’s largest wheat importer


JAKARTA: Indonesia is set to steal Egypt’s spot as the world’s largest wheat importer as the country’s drive for self-sufficiency in corn has led to shifts in its overseas purchases. According to the US Department of Agriculture’s latest estimates, Indonesia is expected to import 12.5m tonnes for the 2017-2018 marketing year, surpassing Egypt. “Indonesia is now the leading global wheat ... Read More »

Indonesia explores coffee market in Vietnam


JAKARTA: : Indonesia as the fourth largest coffee producer in the world is exploring potential Vietnamese market, as stated in a press statement from the Indonesian Embassy in Hanoi, Vietnam received by Antara here on Thursday. The Embassy of the Republic of Indonesia in Hanoi and Viet Nam Coffee Cacao Association (VICOFA) has held a business forum Promoting Indonesia-Viet Nam ... Read More »

IMF sees Indonesia’s growth rising to 5.6%


JAKARTA: The International Monetary Fund (IMF) said Indonesia’s annual growth will gradually rise to about 5.6 per cent over the medium term, led by robust domestic demand, but it cautioned against building up too much debt in the country’s drive to boost infrastructure investment. The IMF, in its annual review of Indonesia’s economic policies released on Tuesday, projected inflation to ... Read More »