Indonesia Morning News For January 26

Trade Ministry releases permit on salt import
The Ministry of Trade has released a permit to import 2.37 million tons of industrial salt to 21 companies, the Foreign Trade Director General, Oka Nurwan, said here on Wednesday.
— Antara

Indonesia’s Pertamina nears takeover of state gas distributor
Indonesia’s state oil conglomerate Pertamina edged closer to a takeover of state-owned gas distributor Perusahaan Gas Negara on Thursday, after the latter held a shareholders’ meeting to approve the transfer of the government’s 57% stake to Pertamina.
— Nikkei Asian Review

Indonesia’s retail business expected to pick up this year: association
Retail business in Indonesia is expected to grow higher this year amid rising commodities’ prices.
— Xinhua

Foreign investors drive rebound in Indonesian construction stocks
Shares in Indonesia’s state-owned construction groups are rebounding sharply after a poor performance in 2017, providing a fresh tailwind for President Joko Widodo’s ambitious infrastructure program.
— Nikkei Asian Review

Electric car regulation ready to be signed by Jokowi, says official
President Joko “Jokowi” Widodo is expected to sign a draft regulation on electric cars, which involved preparations from several institutions.
— The Jakarta Post

Southeast Asian nations launch intelligence pact to counter terrorism threats
Singapore and five other Southeast Asian nations launched an intelligence pact on Thursday (Jan 25) aimed at improving regional counter-terrorism efforts.
— Channel NewsAsia

New Foreign Investment Regulation Issued By BPKM
Recently, the Indonesian Investment Authority (BKPM) issued Regulation no. 13 of 2017 regarding Guidelines and Procedures for Investment Licensing and Facilities (13/2017 Regulation).
— Indonesia Investment

Rice production to surpass consumption through March: Agriculture Ministry
The Agriculture Ministry has said it expects rice production to exceed projected consumption in January, February and March, as the harvest season had commenced across the country.
— The Jakarta Post

Lippo Group moves to cash in on Indonesia’s cashless society
Indonesian conglomerate Lippo Group sees its future in mobile payment services and plans to use its 60 million-strong customer base to tap that promising market.
— Nikkei Asian Review

OJK: Indonesia Bans Bitcoin, Other Virtual Currencies
The Financial Services Authority (OJK) confirmed that virtual currency, including Bitcoin, is not a valid payment instrument in Indonesia.
— Tempo

BI, Baznas, BWI sign MoU on social finance management
Bank Indonesia (BI), the National Alms Agency (Baznas) and the Indonesian Waqf Agency (BWI) on Wednesday signed a memorandum of understanding (MoU) on improving the use of the alms and endowments the agencies collected.
— The Jakarta Post

Indef: Rising Crude Oil Price Makes Energy Subsidies Swell
Institute for Development of Economics and Finance (Indef) said the rise in crude oil prices makes the energy subsidy spread to Pertamina’s price widened.
— Netral News

Coordinating Minister Luhut: Gov’t Funds Intended for Infrastructure in Remote Areas
Coordinating Minister for Marine Affairs Luhut Pandjaitan said that Infrastructure development is currently focused in remote areas.
— Netral News

Wika issues bonds worth Rp5.4 trillion
State-owned construction firm PT Wijaya Karya Tbk (Wika) has issued rupiah-denominated bonds worth Rp5.4 trillion (US$405.46 million).
— Antara

DBS to hire private bankers to tap $19 trillion Asia market
DBS Group Holdings Ltd. plans to increase the number of relationship managers in its private banking business to tap into surging Asian wealth.
— The Jakarta Post

Nearly 95% of retailers enter digital race: Aprindo
While maintaining their physical retail outlets, nearly all retailers in the country had joined the digital revolution in a bid to compete with established online marketplaces, Indonesian Retailers Association (Aprindo) chairman Roy Mandey said in Jakarta recently.
— The Jakarta Post

Jokowi: Indonesia Ready to Partake in Sri Lanka`s Development
President Joko Widodo or Jokowi confirmed Indonesia`s willingness to participate in developing infrastructure in Sri Lanka.
— Tempo

Iran becomes Indonesia`s new tourism market
Five Indonesian companies in the tourism industry are participating in the Tehran International Tourism Expo (TITEX) 2018, from Jan 23 to 26, to explore tourists from Iran, which is the new target market of Indonesian tourism.
— Antara

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