Indonesia Morning News For July 13

Mandiri Capital Indonesia invests $2m in payments startup Cashlez
Mandiri Capital Indonesia (MCI), the venture capital arm of state-owned Bank Mandiri, has led a $2-million investment into payment startup Cashlez, the company announced on Wednesday. Other investors including Gan Kapital participated in the round.
— Deal Street Asia

North Sulawesi Records 449% Surge in Foreign Tourist Arrivals in May
The tourism sector in North Sulawesi is developing rapidly at the moment with foreign tourist arrivals having surged by 449 percent in May compared to a year ago.
— Jakarta Globe

Indonesia’s Retail Sales up 4.3% in May: Survey
Indonesia’s retail sales in May rose 4.3 percent from a year earlier, a survey by Bank Indonesia (BI) showed on Wednesday (12/07), supported mainly by an increased demand for food items.
— Jakarta Globe

Indonesian Crude Price projection approved at $48 per barrel
The House of Representatives budget committee has approved the assumption of the Indonesian Crude Price (ICP) at US$48 per barrel, lower than the proposed figure in the revised 2017 state budget of $50 per barrel.
— The Jakarta Post

CIMB Niaga issues Rp 1 trillion bond
Malaysian controlled Bank CIMB Niaga is issuing a Rp 1 trillion (US$74.82 million) bond to support its credit expansion.
— The Jakarta Post

Indonesian rights activists protest crackdown on hardline Islamists
Civil organisations in Indonesia on Wednesday decried a move by the government to disband certain groups deemed to be in conflict with state’s secular ideology.
— Channel NewsAsia

Finance Minister to Increase Ratio of Taxes to GDP Target to 16% by 2019
Finance Minister Sri Mulyani Indrawati said on Wednesday (12/07) that Indonesia will increase the ratio of taxes to gross domestic product target to 16 percent by 2019 — from 10.3 percent currently — as part of the government’s plan to reform the tax system.
— Jakarta Globe

Sandiaga Uno says 0% down payment housing campaign promise only for those with salary of Rp 7 million or more
One of the cornerstones of Governor-elect Anies Baswedan and Vice Governor-elect Sandiaga Uno’s election campaign was the promise of a 0% down payment housing plan for low income citizens of Jakarta, a controversial promise which was criticized by many for being unrealistic, including Bank Indonesia (Indonesia’s central bank), which said that it would actually violate national lending regulations.
— Coconuts Jakarta

Greater Jakarta LRT to use moving block signaling
The government has decided to use moving block signaling — a signaling system in which the blocks, or sections of track, are defined in real time by computers as protected zones around each train – for the Greater Jakarta light rail transit (LRT).
— The Jakarta Post

More Than Half of Indonesian Startup Founders Don’t Have Tech Backgrounds
A new study revealed that more than half of technology startup founders in the country do not possess formal educational backgrounds in the field.
— Jakarta Globe

New Aceh government promises to put an end to public canings (by replacing them with PR-friendlier private canings)
As the only region in Indonesia allowed to implement sharia law, the government of Aceh has frequently been criticized by human rights activists, both inside and outside the country, for punishing individuals who committed violations of sharia law, ranging from adultery to homosexual sex, by forcing them to stand on a public stage and be caned in front of a cheering crowd.
— Coconuts Jakarta

Indonesia says unlikely to need to import gas until at least 2020
Indonesia is unlikely to need to import natural gas until at least 2020 due to robust production at home, a senior government official said on Wednesday.
— The Edge Markets MY

World Bank’s IFC Invests in CompareAsiaGroup to Improve Financial Inclusion, Innovation
The International Finance Corporation, the World Bank’s financing arm for the private sector, is making an equity investment of $15 million in CompareAsiaGroup, a Hong Kong-based online financial comparison platform, to support the company’s plans to improve financial inclusion, literacy and innovation in the region.
— Jakarta Globe

S’pore pledges cooperation with Indonesia to tackle haze
Ahead of the need for continued vigilance in the upcoming dry season, Environment and Water Resources Minister Masagos Zulkifli has told Indonesian leaders that Singapore is committed to help combat fires should the need arise.
— Today Online

Indonesian President labelled a ‘dictator’ as ban on hard-line Islamist organisations condemned by some groups
The Indonesian Government’s decision to ban groups that do not support the nation’s ideologies has been condemned by human rights groups and will be challenged in the nation’s constitutional court.
— ABC Online

Singapore ready for ‘automatic exchange of financial account information’ relationship with Indonesia: MOF
Singapore stands ready to have a Automatic Exchange of Financial Account Information (AEOI) relationship with Indonesia, as soon as Indonesia is ready, said Senior Minister of State for Finance and Law, Ms Indranee Rajah.
— The Straits Times

How to Handle Stunting among Children in Indonesia
Vice President Jusuf Kalla led a meeting to discuss the issue of chronic malnutrition, also known as stunting, among children, which is a part of the National Team for Acceleration of Poverty Reductions program at the Vice Presidential offices in Jakarta on Wednesday.
— Netralnews

Feature photo Gunawan Kartapranata

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.

Indonesia Morning News For July 13 added by Stella-maris Ewudolu on July 13, 2017
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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.