Indonesia Commissions First Attack Submarine in 34 Years
The Indonesian Navy (Tentara Nasional Indonesia – Angkatan Laut) has commissioned its first attack submarine in over three decades this week.
— The Diplomat
Indonesia: Emtek pours $25.8m into VCs in H1, reveals minority investment in Grab
Emtek Group, one of Indonesia’s largest media conglomerates and among the most active startup investors, is said to have made a minority investment in ride-hailing app Grab Inc even as it injected Rp 344 billion ($25.8 million) into “several VC firms” during the first half of 2017.
— Deal Street Asia
Indonesia’s Palm Oil with the World Best Quality Given to Dismiss EU Resolution
Indonesia’s Trade Minister Enggartiasto Lukita has assured Russian businessmen of the high quality of Indonesias palm oil products. “I guarantee that Indonesia’s palm oil quality is the best in the world,” Enggartiasto stated at the opening of Indonesia-Russia palm oil business forum in Moscow on Thursday.
— Netral News
Islamic State: Indonesian maids in Hong Kong backing terrorists, investigation finds
A small but alarming number of Indonesian maids working in Asia are becoming radicalised and supporting the Islamic State (IS) group. Some have volunteered as suicide bombers.
— ABC Online
Toyobo to churn out food packaging films in Indonesia
Japanese industrial materials maker Toyobo plans to open an Indonesian packaging film factory in 2020, aiming to meet growing demand in Southeast Asia.
— Nikkei Asian Review
Minister orders probe into near-miss at Kualanamu airport
Transportation Minister Budi Karya Sumadi has ordered an investigation into an incident at Kualanamu International Airport in Medan, North Sumatra, on Thursday in which two aircraft clipped wings.
— The Jakarta Post
Indonesia’s Inflation Eases: ETFs in Focus
Indonesia’s annual inflation rate slowed in July, per the Statistics bureau. This was primarily attributed to normalizing demand post the Eid al-Fitr holidays.
Minister says no imports of rice, corn, onion and chili
Agriculture Minister Andi Amran Sulaiman said there has been no imports of rice, corn, onion and chili by the country so far this year.
— Antara News
Telegram to block publicly available terrorism propaganda in Indonesia
Indonesia and encrypted messaging service Telegram have agreed to implement upgraded procedures to eliminate distribution of terrorist propaganda on the platform, Reuters reports, citing the app’s founder and Indonesia’s communications minister.
Poor infrastructure and Indonesia’s ‘alternative Bali’ destinations are causing tourists to reduce their length of stay, frets Bali tourism official
The latest from the Bali Province Central Statistics Agency (BPS), measured in June 2017, shows the average length of stay for Bali tourists has decreased compared to the previous month.
— Coconuts Bali
RNI Raises Rp 200b From Islamic Bond Sale
Rajawali Nusantara Indonesia, a state-owned sugar producer commonly known as RNI, raised Rp 200 billion ($15 million) from the sale of Islamic bonds to fund the company’s sugar production plans this year, the company said in a statement on Wednesday (02/08).
— Jakarta Globe
Asia Coffee-Tight supply keeps markets quiet in Vietnam, Indonesia
Trade in Vietnam’s coffee market took a hit on a lack of quality beans at the end of the crop season, while growers in Indonesia held on to stocks, traders said, keeping supply tight in Asia’s top two coffee exporters.
— Times of India
How Indonesia Can Reduce Dependence on Imports for Industrial Basic Materials
Bank Indonesia said the country’s inflation rate of 3.88 percent year-on-year, by July 2017 showed that southeast Asia’s largest economy is quite competitive regionally.
— Netral News
Exclusive: Aavishkaar to mark first close of latest India fund at $150m this quarter
Mumbai-based impact investor Aavishkaar is set to mark the first close of its $310-million India-focused fund at $150 million this quarter, the firm’s partner EN Venkat told this portal.
— Deal Street Asia
Dock Workers Begin Week-Long Strike to Demand Bonuses
Hundreds of unionized workers at the Jakarta International Container Terminal, or JICT, in Tanjung Priok, North Jakarta, went on strike on Thursday (03/08), disrupting shipping operations at Jakarta’s main seaport that handles most of the country’s international shipping.
— Jakarta Globe
Indonesia’s Exports Fell in June 2017
Exports from Indonesia (EIDO) in June 2017 stood at $11.6 billion, a fall of 11.8% on a year-over-year basis and 19% on a month-over-month basis. The contraction in exports was not in line with analyst estimates due to the Idul Fitri holidays and truck restrictions on toll roads as a result of the festivities. Let’s look at Indonesian exports over the past year in the below chart.
— Market Realist
Feature photo Isabel Sommerfeld
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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.