Indonesia Morning News For May 11

Indonesia Has a $22 Billion Buffer for Defending Its Currency, Bank of America Says
Bank Indonesia has a $22 billion buffer for defending the rupiah before alarm bells ring about its foreign reserves, according to Bank of America Merrill Lynch.
— Bloomberg

Central Government Allocates IDR2.5 Trillion Village Funds for NTT
The central government has allocated IDR2.5 trillion of Village Funds for fiscal year 2018 to East Nusa Tenggara (NTT) province.
— Netral News

Militants surrender to end Indonesia detention prison riot
Dozens of Islamic militant prisoners who took over a police detention center near Indonesia’s capital and killed five officers surrendered to police Thursday, the country’s top security minister said.
— SFGate

Bank Indonesia Says Intervening to Support Rupiah, Preparing to Adjust Rates
Indonesia’s central bank said on Wednesday (09/05) it was intervening in the markets to support the rupiah and was preparing to adjust its benchmark interest rate, suggesting it may hike rates to shore up the currency, now at its weakest in two and a half years.
— Jakarta Globe

Indonesia: Skystar-backed P2P lender Julo raises $5m Series A round
Indonesian peer-to-peer (P2P) lending startup Julo has raised $5 million in a Series A funding round led by Skystar Capital and East Ventures.
— Deal Street Asia

Pudjiadi and Sons Pays out Dividend of IDR2.39 Bln
PT Pudjiadi and Sons Tbk (IDX:PNSE) has always maintained its commitment to provide added value to its shareholders.
— Netral News

ABB’s GIS to supply compact GIS to Indonesia’s PLN
Swiss technology firm ABB has secured a contract to supply its compact gas-insulated switchgear (GIS) to Indonesia’s state-owned power utility PLN.
— Power Technology

Bank Indonesia Sets New Limits for the Provision of E-Money
Bank Indonesia (“BI”) has issued a long-anticipated regulation on e-money that stipulates a number of requirements and prohibitions that were previously unregulated.
— Lexology

Indonesia will not flinch in war against terrorism: Jokowi
President Joko Widodo (Jokowi) affirmed that Indonesia and its people are not afraid to face terrorism.
— Antara News

Blockchain will help prevent fraud in elections
Features of blockchain technology will make it irreplaceable in the conduct of elections, representatives of the Australian start-up Horizon State are sure.
— TOINNOV

Komodo Airport to be Developed as International Airport
Tourism Ministry said the government planned to develop Komodo Airport in West Manggarai District, East Nusa Tenggara as an international airport in a bid to expand tourism destination in Labuan Bajo.
— Tempo.co

Electric Cigarettes Have Potential to Change Pattern, Tendency of Cigarette Consumption
Researcher of the Indonesian Institute of Sciences (LIPI) Prof. Dr. Erman Aminullah said electric cigarettes as a new technology product has the potential to change the pattern and the tendency of cigarette consumption.
— Netral News

APLN claims 75% of reclaimed land buyers remain investing
Property developer Agung Podomoro Land (APLN) has claimed that the majority of its customers who invest in reclaimed lands in North Jakarta have not pulled out their investments, despite policy uncertainty from the Jakarta administration.
— The Jakarta Post

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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.

Indonesia Morning News For May 11 added by Stella-maris Ewudolu on May 11, 2018
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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.