Indonesia Morning News For June 6

Indonesia Morning News For June 6

Indonesia morning news

Indonesia’s 2017 Budget Deficit Estimated at 2.5 Percent of GDP: Finance Minister
Indonesia’s state budget deficit is estimated to widen to 2.5 percent of its gross domestic product by the end of this year from 2.41 percent in the current plan, Finance Minister Sri Mulyani Indrawati told reporters on Monday (05/06).
Jakarta Globe 

Govt Aims to Reduce Logistics Costs to 10 Percent
The government is looking for formulations to reduce logistics costs to 10 percent.
Netral English 

Indonesia has ‘lost interest’ in TPP without US, vice president says
Indonesia has lost its motivation to join the Trans-Pacific Partnership, due to the U.S. withdrawal from the trade pact, the Southeast Asian country’s vice president told the Nikkei Asian Review in an interview on Monday.
Nikkei Asian Review 

7-Eleven operator cancels sale to CP Indonesia
Charoen Pokphand Indonesia’s one trillion rupiah ($75 million) bid to acquire the operator of 7-Eleven convenience stores in Indonesia has been canceled, leaving the struggling retailer in limbo once again.
Nikkei Asian Review

Indonesian companies step up moves to get funds after S&P’s upgrade
Indonesian companies are striving to utilise a window of opportunity to raise funds on better terms that has opened after Standard & Poor’s long-awaited upgrade of the country’s credit rating to investment grade.
The Edge Markets 

Japan grants Indonesia ¥1.43b to build vessel traffic system in Dumai
Indonesia will construct its second vessel traffic system (VTS) in an effort to improve its guiding service for ships passing through the Malacca straits with a ¥1.43 billion (US$12.9 million) grant from Japan.
The Jakarta Post 

State lender BTN targets 22 percent growth in financing
State-owned lender Bank Tabungan Negara (BTN) has set a growth target of between 20 and 22 percent in its financing this year.
The Jakarta Post 

Stories Of Property And Corruption In Indonesia
Property is a unique game in Indonesia, one with many stakeholders and nuances. Because of this, it has been a breeding ground for bribery and corruption.
Indonesia Expat 

Indonesia, Finland Develop Waste to Energy Project,
The Indonesian and Finnish governments are exploring opportunity to cooperate in developing waste to energy project. Earlier, Finland has invested in the same program in Jakarta via city-owned PT Jakarta Propertindo.
Tempo 

Indonesian tax office to examine individuals with over Rp 200m in savings
Finance Minister Sri Mulyani Indrawati has announced that the Directorate General of Taxation was ready to examine the financial data of around 2.3 million bank accounts that have a minimum balance of Rp 200 million (US$15052) at year-end.
The Jakarta Post 

Investors May Do Better with Funds That Focus on Indonesia
VanEck Vectors Russia ETF (RSX) is taking a rocky ride as relations between the U.S. and Russia have run hot and cold, and as the price of energy, its largest sector weighting, slumps. The $2.2 billion fund’s performance over the past few years offers a cautionary tale for any investor with a weak stomach considering a single-country emerging-market exchange-traded fund.
Netral English

Palm oil stocks drop below 1m tons
A surge in exports not followed by an equivalent production increase has caused the nation’s palm oil stocks to decrease to 888,000 tons in April, the lowest level so far this year.
The Jakarta Post 

Indonesia to select new head of financial authority this week
A finance committee in Indonesia’s parliament on Monday grilled two candidates vying to head the country’s financial regulator ahead of a vote on the powerful post this week.
The Edge Markets 

Mercury-free Mining Pilot Plant Developed by Indonesia
The Agency for the Assessment and Application of Technology (BPPT), in collaboration with the Ministry of Environment and Forestry, is developing an innovative pilot plant of a gold mine without mercury in Lebak, Banten Province.
Netral English 

BRI Prepares IDR23 Tln in Eid Al-Fitr This Year
PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) or BRI will prepare IDR23 trillion in cash to meet the needs of the community during Eid al-Fitr (Lebaran) 2017.
Netral English 

Bubble Fears Premature Following Economic Downturn
Fears of an eventual bubble in Indonesia’s property markets may have failed to come to fruition in recent years, largely thanks to intervention from the central bank, but close monitoring has found the market struggling to rebound after last year’s economic downturn.
Indonesia Expat 

Indonesia putting an end to power crises one province at a time
For employees of the state electricity firm PLN in North Sumatra, having disgruntled residents complain to them on a daily basis has become an inseparable part of the job.
The Jakarta Post 

Indonesian Crude Price falls further, still below US$50 a barrel
The Indonesian Crude Price (ICP), used as a benchmark to calculate non-tax income in the state budget, fell by almost five percent to US$47.09 a barrel in May from the previous month despite global efforts to cut oil production.
The Jakarta Post 

Six new trainsets to start operation during Idul Fitri exodus
State-owned train manufacturer PT Industri Kereta Api (INKA) is working to ensure that six trainsets ordered by state owned train operator PT Kereta Api Indonesia (KAI) will be delivered by mid June.
The Jakarta Post 

Two state enterprises to convert sugarcane waste into fertilizers
State-owned plantation firm PT Perkebunan Nusantara (PTPN) XI has signed a Memorandum of Understanding (MoU) with state-owned fertilizer producer PT Pupuk Kujang to conduct research on the conversion of sugarcane waste into organic fertilizers.
The Jakarta Post  

Kalbe Farma to Ramp Up Capex by 20% This Year to Build New Factories
Kalbe Farma, Indonesia’s largest pharmaceutical company, is planning to boost capital expenditure by 20 percent this year, with a large chunk of it being used to build new factories.
Jakarta Globe 

How Indonesia Responds the Rift between Qatar and Arab States
The Indonesian Government has called on the international society to promote dialogue and reconciliation amid the Gulf diplomatic crisis, in which several countries have cut ties with Qatar.
Netral English

 

Feature photo Asian Development Bank
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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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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