Indonesia Morning News For December 7

Indonesia Morning News For December 7
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Indonesia morning newsUS Tax Reform Approved, Dollar Presses Down Rupiah
The opening of trading on Wednesday (12/6/2017) saw the rupiah weakened against the United States (US) dollar.
— Netral News

PSN to Launch New Satellite for Broadband Service Next Year
Pasifik Satelit Nusantara, or PSN, a private company that provides satellite-based communications and information services in Indonesia, is set to launch a new satellite named PSN VI in 2018 to meet high demand in the country’s broadband data sector.
— JakartaGlobe

Government to allow residents to buy low-cost apartments
The Public Works and Housing Ministry’s apartment affairs director, Kuswardono, has said his office is now preparing a government regulation (PP) to allow residents to buy subsidized low-cost apartments, which are currently only available to rent.
— The Jakarta Post

Customs & excise collects 75.94% of 2017 target as of November
The Finance Ministry’s directorate general of customs and excise has collected Rp 143.62 trillion (US$10 billion) in revenues as of November, or about 75.94 percent of this year’s target of Rp 188.1 trillion ($13.17 billion).
— The Jakarta Post

Kinow export to Indonesia increases to $ 48 million
Export of Kinnow (citrus fruit) from Pakistan to Indonesia has increased by 150 per cent to $48 million in the current fiscal year from $20 million during the fiscal year 206-17.
— Business Recorder

Widodo calls for task force to safeguard incoming investment
President Joko Widodo has expressed the need for a task force to safeguard every investment coming into Indonesia.
— Antara

Promoting legal timber trade
Last week, Indonesia celebrated the first anniversary of the licensing scheme that permits the export of certified timber products to the European Union without passing through due diligence checks.
— The Jakarta Post

Indonesia to curate 100 startups to showcase to global investors, aims to have 5th unicorn by 2019
Indonesia could be on its way to sport a fifth unicorn (or a startup with a valuation of $1 billion or more), after Go-Jek, Traveloka, Tokopedia, and Bukalapak achieved the feat, by 2019, according to communications and technology minister Rudiantara.
— DealStreetAsia

OJK urges foreign banks` representatives to contribute more to economy
The Financial Service Authority (OJK) has urged representative offices of foreign banks in Indonesia to increase their contribution to the domestic economy by extending more credits to government and private infrastructure projects.
— Antara

Exclusive: Indonesia’s online retailer Bhinneka revises IPO plan, may go public in 2018
PT Bhinneka Mentari Dimensi, Indonesia’s oldest online retailer, has revised its initial public offering (IPO) plans and may go public as soon as next year, its CEO told this portal.
— DealStreetAsia

Indonesia happy to stay outside of OPEC for now
The government is sticking with its decision not to be a member of the Organization of the Petroleum Exporting Countries (OPEC), turning down requests by some Middle East countries for Indonesia to reactivate its membership.
— The Jakarta Post

MUFG hopes to begin buying Bank Danamon Indonesia stake early 2018
Indonesia’s financial regulator expects Mitsubishi UFJ Financial Group Inc. (MUFG) to begin accumulating a stake in PT Bank Danamon Indonesia early next year, as Japan’s biggest bank expands in the most populous Southeast Asian nation.
— DealStreetAsia

Indonesia could overtake Singapore in decorative fish exports: Susi
Maritime Affairs and Fisheries Minister Susi Pudjiastuti says Indonesia has huge potential to overtake Singapore in the export of decorative fish, taking into account of the country’s large maritime territory.
— The Jakarta Post

Mission Impossible: Indonesia’s Renewable Energy Target
Indonesia’s target of 23 percent renewable power on the electric grid in 2025 is hardly possible, a lawmaker from an opposition party said during the “Beyond Profitability” seminar organized by GlobeAsia and APRIL in Jakarta on Wednesday (06/12).
— JakartaGlobe

Realities of starting a business in Indonesia
Indonesia is becoming ever more popular with aspiring expat entrepreneurs for its lifestyle business opportunities as well as its investment possibilities.

New Director General of Taxes Committed to Combat Corruption
International Anti-Corruption Day is commemorated by the Directorate General of Taxes of Ministry of Finance with the theme “Prevent Corruption, Start from Yourself”.
— Netral News

Government mulls fuel price hike to keep up with oil prices
The government is considering increasing the prices of subsidized fuel next year because of the rising global oil prices.
— The Jakarta Post

Commerce Ministry Held Trade Mission to Egypt, with Coffee and Palm Oil as Mainstay Products
Efforts to improve trade relations and export performance continue to be intensified by the Ministry of Commerce through the Directorate General of National Export Development (Ditjen PEN).
— Netral News


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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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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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