Indonesia morning news for August 2

Indonesia morning news for August 2
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Indonesia morning newsQIA to invest $500m in Indonesia’s tourism sector
The State of Qatar and Republic of Indonesia signed a memorandum of understanding (MoU) on developing the tourism sector in Indonesia, where Qatar Investment Authority (QIA) allocated $500m to carry out a number of tourism projects in 10 sites chosen by the Indonesian government.
— The Peninsula Qatar

Rp300 Billion Allocated to Subsidize Rate of LRT Palembang
The Ministry of Transportation poured a budget of Rp300 billion to subsidize the rate of LRT Palembang. Minister of Transportation Budi Karya Sumadi in a written statement received on Wednesday, hoped that within three years this subsidy can be fulfilled.

Consumer Price Index Indonesia: Inflation at 0.28% in July 2018
Indonesia’s inflation rate was recorded at 0.28 percent month-on-month (m/m) in July 2018, slightly below estimates.
— Indonesia Investments (media release)

IFC Invests in Bank OCBC NISP for Pioneering Green Bond
The pioneering green bond, with a five-year tenor, will see Bank OCBC NISP fund climate smart projects, supporting the Government of Indonesia’s priority of achieving a sustainable economic growth and will also contribute to the government’s target of 29 percent reduction in greenhouse gas emissions by 2030.
— AEC News Today/ PR Newswire (media release)

Indonesia prepares 1.5 million livestock for Eid al Adha sacrifice
Indonesia’s government has prepared 1.5 million animals for the Eid al Adha festival of sacrifice this year, up 5 percent from last year, director general of livestock and animal health at the agriculture ministry Ketut Diarmita told Salaam Gateway.
— Salaam Gateway

Japan to Help Build Fish-Processing Centers in Indonesia
The government will use a grant from the Japan International Cooperation Agency to build integrated marine and fishery centers on islands in Indonesia’s six outermost regions to boost exports.
— Jakarta Globe

Indonesia eyeing 170 thousand foreign visitor arrivals during Asian Games
The Ministry of Tourism has set a target to receive 170 thousand foreign tourists visiting Indonesia during the 2018 Asian Games to be co-host by Jakarta and Palembang (South Sumatra Province), from Aug 18 to Sept 2.
— Antara News

Government to revise tax refund regulation
Finance Minister Sri Mulyani Indrawati has said the ministry would study a request made by Tourism Minister Arief Yahya, to revise down the minimum amount tourists would need to spend in a store to get a tax refund.
— The Jakarta Post

Indonesia to make biodiesel use compulsory from September 1 – official
Indonesia aims to make the use of biodiesel blended fuels compulsory for all vehicles and heavy machinery from Sept. 1, Renewable Energy Director General Rida Mulyana said on Wednesday, amid efforts to reduce the current account deficit in Southeast Asia’s biggest economy.
— Today Online

Indonesia Manufacturing Accelerates In July – Nikkei
he manufacturing sector in Indonesia continued to expand in July, and at a faster rate, the latest survey from Nikkei revealed on Wednesday with a PMI score of 50.5.
— Markets Insider

How Hong Kong May Help Indonesia Benefit From China’s Belt And Road Initiative
As China’s special administrative region, Hong Kong has played a key role in connecting Chinese companies with the outside world for many years. Leung Kwan Ho, Director of Indonesia of the Hong Kong Trade Development Council (HKTDC), explains how China’s Belt and Road Initiative affects Hong Kong-Indonesia relations.
— Indonesia Expat

Managing Rokan Block, Pertamina Pledges to Save Foreign Exchange of $4 Billion
T Pertamina (Persero) pledged an annual saving of $4 billion worth of foreign exchange (forex) from the management of the Rokan Block in Riau.
— Netral News

Saudi authorities nab 116 Indonesians for illegal haj travel
Saudi Arabian security authorities have arrested 116 Indonesians during a raid on a shelter in Misfalah, Mecca, for allegedly using illegal means to go on the haj.
— The Jakarta Post

Indonesian security forces abseil down high-rise in Asian Games drill
Indonesian security forces jumped out of helicopters and abseiled down the side of a high-rise in a counter-terrorism drill in Jakarta on Wednesday, as preparations for this month’s Asian Games gathered momentum.
— Daily Times

Citi Indonesia Crowned Best Bank in Asia by Euromoney Awards for Excellence
Citi received the prestigious “Best Bank in Asia” award from the Euromoney Award for Excellence.
— Netral News

Unrealized Potential in Indonesia’s Growing FinTech industry
The comments by IFC’s CEO Philippe Le Houérou were made at the Indonesia FinTech Financial Inclusion Forum in Jakarta, which was hosted by the Indonesian FinTech Association and IFC as part of the Voyage to Indonesia event series.
— AEC News Today/ PR Newswire (media release)

Fintech to Widen Access to Gov’t-Subsidized Loans, Social Assistance
The National Council for Financial Inclusion, or DNKI, is reviewing a regulation that prevents social-assistance payments and the disbursement of government-subsidized bank loans to small-medium enterprises through financial technology applications, in an effort to give more Indonesians access to financial services.
— Jakarta Globe

Govt to Construct Five Central Markets in 2019
Trade Minister Enggartiasto Lukita said Public Works and Housing Ministry (PUPR) planned to build five regional central markets following the recommendation in the previous cabinet

SMEs start enjoying reduced income tax facility on Wednesday
The government policy to cut the income tax for small and medium enterprises (SMEs) from 1 percent to 0.5 percent has been in effect since July 1, and a tax official has said the facility can be enjoyed starting Aug. 1 on the previous month’s sales.
— The Jakarta Post

National Police Chief Guarantees Safety of Foreign Investments in Indonesia
In order to create an advanced Indonesian economy and make Indonesia the largest economy in Southeast Asia region, the National Police (Polri) will support a conducive investment climate for foreign investors. This was said by National Police Chief Tito Karnavian.
— Netral News

Indonesia to launch new interbank reference rate on Weds
Indonesia’s central bank is set to launch its new benchmark interest rate for the country’s overnight interbank money market on Wednesday as it pushes to boost the reliability of its reference rates.
— Reuters

Indonesia’s Lampung ships 101.6 T of cocoa beans in July
Indonesia exported 101.6 tonnes of cocoa beans from Lampung province on Sumatra island in June, data from the local trade office showed on Wednesday.
— Business Recorder (press release)

How can Indonesia assist its farmers?
At a press conference introducing the recent Asian Agriculture and Food Forum in Jakarta, organised by the Indonesian Farmers Association (HKTI), the Association’s Secretary-General Bambang Budi Waluyo said that Indonesian farmers face five issues in improving their welfare: working capital access, high quality seeds, fertilisers, agricultural technology and efficient distribution.
— East Asia Forum

Village Ministry Partners with BNI in Creating Smart Office
The Ministry of Village, Development of Disadvantaged Region & Transmigration (Kemendes PDTT) collaborates with PT Bank Negara Indonesia (BNI) in creating Smart Office in its work environment.
— Netral News

Jakarta LRT To Begin Operations By August 10
Jakarta’s light rapid transit (LRT), which connects Kelapa Gading in North Jakarta to the Jakarta International Velodrome in Rawamangun, East Jakarta, will begin operation on August 10, one week before the Asian Games start, an official has said.
— Indonesia Expat

Indonesia opens fashion pop-up store in Singapore
Foreign Minister Retno Marsudi inaugurated pop-up store Rising Fashion in Paragon Mall in Singapore on Wednesday, the shop is part of cooperation efforts between Indonesia and Singapore.
— The Jakarta Post


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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).

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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