Indonesia Morning News For July 20

Indonesia Morning News For July 20

Indonesia morning newsIndonesia Struggles to Fire Up Its Economy
Indonesia is at an impasse with the central bank and the government running out of policy space to fire up the economy.
— Bloomberg

BNI Syariah disburses Rp 168b loan for new Transjakarta buses
The sharia subsidiary of state lender Bank Negara Indonesia (BNI), BNI Syariah, has disbursed a loan of Rp 168 billion (US$12.62 million) to operators of the Jakarta-owned bus management company, PT Transportasi Jakarta (Transjakarta), to procure additional vehicles.
— The Jakarta Post

Bali tourism numbers from Australia: Indonesia is still our number one destination
In 2016, 1.248 million Australians visited Indonesia. That’s an increase of 11 per cent over the previous year, and up by a massive 546 per cent over the decade since 2006, outpacing the growth over the same period for every other destination on the list of the most popular countries among Australian travellers.
— Traveller

Jakarta has the 3rd cheapest taxi prices in the world based on global survey
The capital of Indonesia suffers from from some of the most infamously awful traffic in the world, inadequate public transportation and terrible conditions for pedestrians. But, if there’s one bright spot in Jakarta’s transportation infrastructure, one thing that we can hold over the heads of rival cities like Bangkok and Singapore, it’s our taxis.
— Coconuts Jakarta

Indonesian M&A value doubles to $4b in first half riding on big-ticket deals
Indonesia saw its mergers and acquisitions (M&A) deal value surging to $4 billion in the first half 2017, recording about 100 per cent increase from the same period last year of around $2 billion, a report by Duff & Phelps says.
— Deal Street Asia

Textile Museum’s collection expands to 2,500 artifacts
The collection of the Textile Museum in Tanah Abang, West Jakarta, has grown to comprise 2,500 pieces of traditional cloth, turning the site into one of the favorite places in the capital for women, an official says.
— The Jakarta Post

Indonesian Rupiah (IDR) 4.75 pct since October
Benchmark rate has been 4.75 pct since October. Indonesia’s central bank is widely expected to leave its benchmark rate unchanged again on Thursday as it keeps focusing on two key factors: the inflation rate and U.S. monetary policy. Bank Indonesia (BI) halted an easing cycle in October last year after cutting its benchmark rate <IDCBRR=ECI> six times.
— Live Trading News

Hizbut Tahrir to challenge disbandment by government
Muslim group Hizbut Tahrir Indonesia (HTI) is set to file a lawsuit with the Jakarta State Administrative Court (PTUN) to challenge the revocation of its legal entity status and instruction to disband by the government, the group’s lawyer Yusril Ihza Mahendra has said.
— The Jakarta Post

A Sea Cave in Indonesia Contains a 5,000-Year Record of Tsunamis
New data, from a cave in Indonesia, confirm that, even in hindsight, we can’t know with any precision when they’ll happen, how strong they’ll be, or what kind of tsunami they may produce.
— Atlas Obscura

Mandiri aims to tap Singapore asset pool uncovered in tax hunt
Bank Mandiri, Indonesia’s largest state-owned lender, on Wednesday said it is seeking to establish a private banking business in Singapore. The move comes amid a global crackdown on tax evasion that has exposed vast Indonesian wealth parked in the city-state.
— Nikkei Asian Review

Bank Mandiri Profit Soars 33% in H1 on Strong Loan Growth, Fee-Based Income
Bank Mandiri booked a 33.7 percent year-on-year increase in net income in the first half of 2017, on the back of strong loan growth and a surge in fee-based income.
— Jakarta Globe

Indonesia completes installation of SATCOM systems across LPDs and surface combatants
The Indonesian Navy (Tentara Nasional Indonesia – Angkatan Laut) has completed the installation of Ku-band stabilised parabolic antennas with radar domes, and associated satellite communication (SATCOM) systems on four of its landing platform dock ships, and across the Diponegoro (SIGMA) and Bung Tomo classes of surface combatants.
— IHS Jane’s 360

Indonesia’s Telkom partners up to give customers new ways to pay
Telekomunikasi Indonesia, the country’s largest telecommunications company, on Wednesday said it is planning partnerships with e-commerce sites to boost the sales of its pay-TV and home broadband bundles.
— Nikkei Asian Review

KAI obtains Rp 2T capital injection from state for LRT project
State-owned railway operator PT Kereta Api Indonesia (KAI) has finally secured a Rp 2 trillion (US$150.2 million) capital injection (PMN) from the state to fund the construction of a light rail transit (LRT) system in Greater Jakarta.
— The Jakarta Post

Indonesia: P2P app Julo raises seed funding from Skystar Capital, others
Indonesian peer-to-peer (P2P) lending startup Julo has raised an undisclosed amount of investment in a seed round led by Skystar Capital, along with East Ventures, Convergence Ventures, according to an announcement. A few notable angel investors also participated in the round.
— Deal Street Asia

US Prudential Acquires 49 Percent Stake in CT Corp Life Insurance Subsidiary
Prudential Financial, a multinational company headquartered in the United States, has partnered with Indonesian diversified group CT Corp to form a joint venture life insurance company in an effort to expand its footprint in Southeast Asia’s biggest economy.
— Jakarta Globe

Malaysia should copy Indonesia in asset declaration: C4
The Centre to Combat Corruption and Cronyism (C4) urged Malaysia to adopt Indonesia’s asset declaration framework, said its executive director Cynthia Gabriel.
— The Independent

Why banning ‘extremist groups’ is dangerous for Indonesia
Last week, Indonesian President Joko Widodo signed into law a decree to make it easier for his government to ban any group it deems “extremist.” It also established criminal penalties for being a member or leader of a banned group and for participating in violence or vigilantism as part of one ranging from five years to life in prison.
— Washington Post

 

Feature photo Seika
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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.

 

 

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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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