Indonesia Morning News For August 30

Infrastructure Credit to Rise by End of the Year
Bank Indonesia (BI) has corrected its credit growth projection for this year by 8.0 to 10 percent. This may increase the allocation of infrastructure projects funding, as a slowing demand for credit will allow banking funds to improve.
– Tempo (EN)

Balance of payments to record $7b surplus in 2017
Bank Indonesia (BI) projects the country’s balance of payments (BoP) will reach a surplus of US$7 billion this year from $12 billion last year.
– The Jakarta Post

Indonesian house speaker calls for end to violence against Rohingya
House Speaker Setya Novanto has called for an end to violence against Rohingya Muslims in Myanmar, because the atrocity was violation of human rights.
– Antara

Deflation may occur in August: Bank Indonesia
A central bank survey showed that inflation stood at 0.01 percent in the third week of August, keeping annual inflation benign at 3.9 percent.
– The Jakarta Post

CIMB Niaga Ready to Disburse This Amount of Fund for LRT Project Construction
CIMB Niaga is said to be ready to disburse funds of IDR2 trillion ($140 million) for the construction of Jakarta-Bogor-Depok-Bekasi (Jabodebek) Light Rail Transit (LRT) project.
– Netral News

Newcomer Logistics Firm Iruna eLogistics Seeks to Empower E-Commerce Companies
Iruna eLogistics, a logistics startup company, plans to open two new fulfillment centers in Surabaya and Medan by the end of this year as part of its rapid expansion to provide back-end logistics services to Indonesia’s small and medium-sized enterprises.
– Jakarta Globe

Google launches new products and features for Indonesia
GOOGLE announced new products and programmes for Indonesia at its second annual “Google for Indonesia” event recently, further increasing its efforts to make the Internet more useful and relevant for Indonesians.
— Digital News Asia

Is Google Eyeing Wi-Fi Success in Indonesia After India?
Alphabet Inc. ‘s GOOGL Google is rolling out its free Wi-Fi program Google Station in Indonesia as part of which public places like railway stations and universities will have free connectivity.
— Nasdaq

AirAsia seeks back-door listing in Indonesia
In a filing with Bursa Malaysia yesterday, AirAsia said it intends to inject 57.25% of IAA shares into Jakarta-listed logistics and warehousing firm PT Rimau Multi Putra Pratama TBK (RMPP) via a debt-and-share-swap deal.
– The Edge Markets

Singapore’s DBS starts mobile banking in Indonesia
Singapore’s largest bank by assets, DBS Group Holdings, launched Tuesday a mobile banking service in Indonesia, looking to tap into mobile-savvy millennials in Southeast Asia’s largest country.
– Nikkei Asian Review

Indonesia: East Ventures leads seed round into talent management startup Synergo
Indonesian venture capital firm East Ventures has led a seed funding round of an undisclosed amount into Synergo, a talent management software provider based in Jakarta.
– Deal Street Asia

Indonesia takes majority stake in Freeport-McMoRan copper mine
Indonesia will take a majority stake in US miner Freeport-McMoran’s group Grasberg copper and gold mine as part of an agreement that will allow the mine to keep operating after months of bitter dispute.
– Financial Times

Freeport Falls on Concern Indonesia Deal Comes at Too Big a Cost
Shares in Phoenix-based Freeport fell the most among mining peers on Tuesday after the company said it reached an “understanding” with the government of Indonesia that will allow it to continue to operate its flagship copper-and-gold asset through 2041.
– Bloomberg

Peru, Indonesia to likely start trade talks in December: minister
Peru and Indonesia will likely start negotiating a free trade deal in December as Lima pursues a “very aggressive” trade agenda following Washington’s withdrawal from the Trans-Pacific Partnership (TPP)
– Reuters

Australia-Indonesia free trade deal will encounter protectionism
Malcolm Turnbull’s desire for a “high quality” free trade agreement with Indonesia will confront Jakarta’s protectionist impulses, with chief negotiator Deddy Saleh saying his country was shooting for a “good quality” agreement instead.
– Sydney Morning Herald

Now is time to attract investments: Jokowi
He warned his ministers to refrain from issuing regulations and policies that were not based on in-depth studies or in consultation with relevant stakeholders.
– The Jakarta Post

High Tax Rate Hampers Electric Vehicles
The Indonesian government is currently pushing the automotive industry to produce electric vehicles and is said to be ready to provide incentives for companies that are not hesitant to start an electric vehicle project.
– Tempo (EN)

Indonesia to hold Sail Sabang marine event
Indonesia will hold the Sail Sabang marine event from Nov. 28 to Dec. 5, which is expected to attract foreign visitors from neighboring countries.
– Xinhua

Detained Singapore boat captain deported by Indonesia, arrives home
Shoo Chiau Huat was ferrying Singaporean and Malaysian tourists on a fishing trip on April 16, 2016, when his boat was stopped by an Indonesian navy patrol for illegally fishing and trespassing in waters off Bintan.
– Channel NewsAsia

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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.