Indonesia Morning News For July 27

Indonesia Morning News For July 27

Indonesia morning newsGovernment to revoke Freeport license over failure to build smelter
Indonesias Energy and Mineral Resources Ministry would revoke the concentrate export license for PT Freeport Indonesia, if the giant mining company failed to finish the construction of the mineral smelter facility within five years.
— Antara News

Indonesian parliament passes law to chase tax evaders overseas
Indonesia moved a step closer to hunting down tens of billions of dollars it believes its citizens have hidden abroad after passing a law that will give tax officials access to financial data held by other countries.
— BusinessWorld Online

Investment grows 12.7 percent in Q2: Investment board
The Investment Coordinating Board (BKPM) says investment grew 12.7 percent to Rp 170.9 trillion (US$12.85 billion) in the second quarter of 2017 from the Rp 151.6 trillion in the same period last year.
— The Jakarta Post

Indonesia Will Help Refugees, but ‘Won’t Host Them Forever,’ Says Immigration Office
Indonesia is committed to improve its handling of asylum seekers and refugees, but with a proviso that it will not host them forever, director general of immigration Ronny F. Sompie said on Monday (24/07).
— Jakarta Globe

Indonesia is Asia’s Biggest Instagram Market with 45mn Users
Instagram just revealed its internal data about users in Indonesia. With no less than 45 million users, Indonesia is the social media’s biggest market in the Asia Pacific region.

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Japan’s Solution to Set Clean Water and Sanitation for Indonesia
President Joko Widodo (Jokowi) received President of the Japan International Cooperation Agency (JICA) President Shinichi Kitaoka and his delegation at the Merdeka Palace here on Wednesday.
— Netral News

178 Stocks Plummeted, JCI Closes Dropping 0.23 Percent by Trade End
The Jakarta Composite Index (JCI) closed down 13.32 points (-0.23 percent) to 5,800.20 at the end of trading on Wednesday (7/26/2017). The decline in the composite index is after dropping prices of 178 shares traded during the day.
— Netral News

Indonesia urges technology transfer on weaponry system cooperation
The Indonesian government has called for prioritizing technology transfer on weaponry system cooperation, which can support independency in the future.
— Antara News

Acset Indonusa’s Net Profit Grows 95.7 Percent in First Half of 2017
Listed construction company Acset Indonusa (ACST.JK) has obtained net profit of IDR64.2 billion in the first semester of 2017, or a growth of 95.7 percent from IDR32.8 billion in the same period last year.
— Netral News

Indonesia Attracts More Foreign Direct Investment in Q2
Indonesia on Wednesday (26/07) reported higher levels of foreign direct investment (FDI) in the second quarter than the first, but the head of the agency seeking to win investors said there remains “a lot to improve”.
— Jakarta Globe

Indonesia, Malaysia Cooperate to Eradicate Corruption
Malaysian Anti-Corruption Commission (SPRM) paid a visit to the Corruption Eradication Commission (KPK) yesterday to affirm cooperation between the two anti-graft agencies.

Architect of Indonesia postcrisis economy urges more tax reform
One of the chief architects of Indonesia’s postcrisis economy says local governments must be given more autonomy to help overcome a revenue gap hampering Southeast Asia’s biggest economy.
— Business Mirror

Bank Indonesia Destroys Counterfeit Money
Bank Indonesia (BI) seized and physically destroyed 189,477 sheets of counterfeit money on Wednesday, July 26. Before the counterfeits were destroyed, according to BI Executive Director of Money Management Suhaedi, the fake bills were firstly verified and analyzed for its authenticity at the BI Counterfeit Analysis Center (BI-CAC) laboratory.

Freeport Indonesia to Issue New Shares if It Agrees with Gov’t Divestment Plan
United States-based mining company Freeport Indonesia will issue new shares in the divestment process. The new shares will then be acquired by the government to become majority shareholder in the company.
— Netral News

Expensive Stock Valuations: Foreign Investors Exit Indonesia
The high price-to-earnings ratio (PER) of Indonesia’s benchmark Jakarta Composite Index has caused foreign investors to record net selling since 4 July 2017.
— Indonesia Investments (media release)

East African Refugees Make Indefinite Home for Themselves in Indonesia
Ranna, 24, an Oromo Ethiopian woman, is not only a third-generation refugee, but also a two-time refugee. Indonesia, which is home now, is the second place to which she has been displaced in her young life.

Causing Lung Cancer, Indonesia Asked to Ban Asbestos Use
Canadian health professional Prof. Yv Bonnier Viger asked the Indonesian government to ban the use of asbestos as has been done by governments in 55 other countries in the world.
— Netral News

SMSI as the Right Alternative for Public to Combat Hoax
Gun Gun Siswadi, expert Minister staff on Communication and Mass Media Dr Gun Gun Siswadi, when reading the speech of Minister of Communication and Information Rudiantara, says the goal of irresponsible people in spreading hoax is to trigger the Indonesian people to get into a panicked mood.
— Netral News


Feature photo Seika
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

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Indonesia morning news by AEC News Today is your one stop source for Indonesia news on matters of governance and policies affecting Asean business communities and is published M-F by AEC News Today: Governance, not government; policies not politics.



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Stella-maris Ewudolu

Journalist at AEC News Today

Stella-maris graduated with a Bachelor of Arts, Education from Ebonyi State University, Nigeria in 2005.

Between November 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.

She joined AEC News Today in December 2016.

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