Indonesia morning news for July 18

Indonesia morning news for July 18

Indonesia morning newsBI: Indonesia’s Foreign Debt Growth Slows Down
Indonesia’s foreign debt grew slower at the end of May 2018 as foreign capital outflows from the state securities market as a result of normalization of interest rates in the US and rising US government bond yields.
— Netral News

Govt closes three new exploration block deals
The government signed on Tuesday three oil and gas exploration blocks under a gross-split contract for US$40.90 million in total investment and a $2.5 million signature bonus, bringing the total deals closed to nine since auctioning commenced in January.
— The Jakarta Post

Indonesia’s energy subsidy to balloon $4.8bn on price freeze
Indonesia’s energy subsidy will soar to a four-year high as a price freeze ordered by President Joko Widodo ahead of next year’s general elections forces the government to underwrite losses of state-run retailers.
— Gulf Times

Poverty rate in Jakarta falls to 3.57 percent
The poverty rate in Jakarta has decreased slightly from 3.77 percent in March, 2017, to 3.57 percent as of March this year, the lowest level recorded in the past four years, the Jakarta Central Statistics Agency (BPS Jakarta) has said.
— The Jakarta Post

Indonesia accelerates use of B30 biodiesel fuels
The government plans to accelerate the use of fuel with 30 percent biodiesel content (B30 biofuel) in the transportation sector by next year from the initial plan of 2020, an official has said.
— The Jakarta Post

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All You Need To Know About The New Income Tax Rate In Indonesia
Indonesia has a very favourable income tax system for small businesses. Right now it will become even more attractive.
— Indonesia Expat

India Makes Moves at Indonesia’s Strategic Sabang Port
A little more than one month after Indian Prime Minister Narendra Modi visited Indonesia, an Indian naval vessel entered the Indonesian port of Sabang, off the northern tip of Sumatra, astride the northern end of the Malacca Straits.
— The Diplomat

Indonesia fights pollution ahead of Asian Games
As Indonesia prepares to host thousands of competitors and fans at next month’s Asian Games, pollution concerns have flared following a spell of unhealthy air in Jakarta and forest fire hotspots near the second venue, Palembang in South Sumatra.
— Morung Express

Indonesia nickel miner launches USD 150 million IPO
Mining Journal reported that the offer, if successful, will make Nickel Mines the second-largest ASX IPO of the year after Jupiter Mines raised USD 240 million in April.
— SteelGuru

Indonesia’s c.bank seen holding key rate, with the rupiah stabilised
Indonesia’s central bank is expected to take a pause in its monetary tightening cycle on Thursday after three interest rate hikes in six weeks, a Reuters poll showed, but it will continue to focus on stability of the rupiah.
— Nasdaq

Alex Noerdin Comments on Asian Games Budget of Rp68 Tn
The total budget of the 18th Asian Games in Palembang, South Sumatra, reached Rp68 trillion. The figure was above the Regional Budget (APBD) which allocated at Rp6.9 trillion per year.
— Tempo.co

OIC seeks indigenous vaccines from Muslim countries
Organization of Islamic Cooperation`s (OIC`s) Science and Technology Department is seeking indigenous vaccines from Muslim countries through the Vaccine Manufacturers Group of Muslim countries and will be discussed at the next OIC meeting in Indonesia.
— Antara News

Indonesia’s ancestral community embraces drones, computers while preserving traditions
With its own hydro- power grid, food supplies to last a few decades and a TV channel for entertainment, Indonesia’s Ciptagelar community is in many ways both a model smart village of the future as well as a relic of the past.
— Down To Earth (blog)

ICOs and Regulation in Indonesia
Over US$7billion is reported to have been raised this year, with over US$5billion raised in 2017, by way of token offerings popularly known as initial coin offerings (ICOs).
— Lexology

Owner of ‘Equanimity’ to challenge latest order
Indonesian lawyers for the owner of the US$250mil (RM1bil) superyacht Equanimity will challenge the latest detention order to prevent the vessel from being handed over to the US government.
— The Star Online

Top 10 Indonesian Blasphemy Cases
You’ve got to have faith in a nation where religion is compulsory. And it has to be one of the accepted faiths.
— Indonesia Expat

Shell hopes to ship LNG for sale in Indonesia -Energy Ministry official
Oil major Shell and its partner are seeking to import liquefied natural gas (LNG) into Indonesia, an energy ministry official said on Tuesday.
— Reuters

Indonesia tourism ministry eyes low-cost carrier terminals, targets foreign travellers
The Indonesia tourism ministry has revealed plans to bolster its airports with low-cost carrier (LCC) terminals to boost foreign tourist arrivals to the country.
— Marketing Interactive

Indonesia Exchange Plots Ways to Lure Investors to Combat China
The Indonesia Stock Exchange plans to increase its offerings as it tries to keep its equities market relevant for global investors in the wake of China’s addition to a key global benchmark.
— Bloomberg

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Indonesia mine nationalization shakes top copper source
Indonesia’s nationalization of a major copper and gold mine formerly run by U.S. metals company Freeport-McMoRan is a win for Indonesian President Joko Widodo who has been calling for the reclamation of strategic resources.
— Nikkei Asian Review (paywall)

Indonesian City Admits Migrant Children to Public Schools
IOM, the UN Migration Agency, and the Department of Education in the Indonesian city of Medan have signed a Memorandum of Understanding paving the way for 297 refugee children to enter the local public-school system, which started Monday.
— Reliefweb

Can A Foreigner Buy Property In Indonesia?
Indonesia is regarded as one of Asia’s most promising emerging markets, in addition to its beautiful natural attractions and diverse culture.
— Indonesia Expat

Organizer says ‘2 million’ motorcycle taxi drivers will strike at start of Asian Games if fares are not raised
Flocks of sports fans are expected to be coming to the Asian Games’ host cities of Jakarta and Palembang for the enormous regional athletic competition beginning on August 18.
— Coconuts Jakarta

 

Feature photo Andrew H

 

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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