Indonesia Morning News For May 31

Indonesia Morning News For May 31

Indonesia morning news

Indonesia’s life premiums jump 28% in Q1
Premiums in the Indonesian life industry soared by 28% in the first quarter of this year, compared to the same period in 2016, according to latest data released from the Financial Services Authority (OJK).
International Adviser 

Indonesia’s 2017 Growth Rate Could Top Gov’t Target: Finance Minister
Indonesian Finance Minister Sri Mulyani Indrawati said on Tuesday (30/05) that economic growth this year could top the current official target, thanks to better trade numbers and investment than in 2016.
Jakarta Globe 

Who’s responsible for Indonesia’s deadly abandoned coal mines?
Hundreds of abandoned coal mine pits in Borneo reflect institutional failures and utter neglect from owners. And now, the life and health of surrounding communities are at stake.
Eco-Business

Governor halts work on coal railway being built without permits in Indonesian Borneo
After coming under public scrutiny, Central Kalimantan Governor Sugianto Sabran halted the construction of a railroad being built to transport coal through forested areas of the province.
– Mongabay

Wika to Commit Rp 1.2t to Slow-Moving Jakarta-Bandung Bullet Train Project
State construction company Wijaya Karya will provide Rp 1.2 trillion — around $90 million — in fresh capital next month for Kereta Express Indonesia China — the developer of the Jakarta-Bandung bullet train project — to help finance the railway track construction.
— Jakarta Globe

Loan Growth Reaches 10 Percent: Bank Indonesia
The Deputy Governor of Bank Indonesia Erwin Rijanto has noted an increasing loan disbursement trend. As of May, the central bank reports 9.8 percent loan growth. The figure is higher compared to April at 9.7 percent. “It’s reaching 10 percent and is expected to meet the target,” Erwin said in his office yesterday.
Tempo 

Indonesia Halal Hair Care Market is estimated to reach USD 1.27 billion by 2025
The Indonesia halal haircare market is estimated to reach USD 1.27 billion by 2025, according to a new report by Grand View Research, Inc.
– PR Newswire (media release)

Indonesia‘s Salim Group Re-enters Banking with Local Takeover
Indonesia’s largest conglomerate, Salim Group, has acquired a majority stake in a local bank, marking its first return to the banking business since the 1998 Asian financial crisis.
– Netral News

Latest Cars to be Showcased at GIIAS 2017
As many as 30 carmakers that are members of the Association of Indonesia Automotive Industry (Gaikindo) will be joining the Gaikindo Indonesia International Auto Show (GIIAS) at Indonesia Convention Exhibition, BSD City, Tangerang, which will be held from August 10 to 20.
Tempo 

How Indonesia Boosts Development Aimed at Easing the Burden of Budget
Chief economic minister Darmin Nasution said Indonesias debts have grown because the government was boosting developmental efforts.
– Netral News

Indonesia prices 100bn yen three-tranche Samurai bond offering
The Republic of Indonesia has priced Samurai bonds of three, five and seven years of a combined 100 billion yen ($901 million) through leads Mizuho, Nomura and SMBC Nikko.
The Times of India Business

2017, Business Competition Supervisory Commission Claims to Impose Fines of IDR212 Bln
Business Competition Supervisory Commission (KPPU) recorded fines to business players throughout 2017 reached IDR212 billion. It was through 7 existing cases.
– Netral News

Jokowi Mulls Disbanding More Mass Organizations
President Joko Widodo alias Jokowi said that the government is mulling legally disbanding mass organizations that do not adhere to the national principles Pancasila, threaten public order and national unity, as well as undermine tolerance. “I’m not talking about one or two organizations only, but four, five or maybe six,” he told Tempo in a special interview at the Merdeka Palace yesterday.
Tempo 

Government To Sue Australia Over Paper Export Tariff
Indonesia is preparing to sue the Australian government after an anti-dumping import duty was slapped on Indonesia-made A4 copy paper, amid accusations the imported paper was priced below fair market value in a tense stand-off adding tension to the trade relationship.
Indonesia Expat  

PanaHome to Kick Off Indonesian Housing Business
PanaHome will launch an Indonesian residential business on the outskirts of Jakarta, the Japanese developer said Tuesday, seeking to take advantage of growing housing demand in the Southeast Asian nation.
– Netral News

Illegal snake-skin trade thwarted in North Sumatra
The North Sumatra office of the Natural Resources Conservation Agency (BKSDA) thwarted an illegal attempt to trade snake-skin at Belawan Port in Medan, North Sumatra, on Tuesday.
— The Jakarta Post

Economy in brief: Airbnb eyes expansion in Indonesia
Global hospitality marketplace Airbnb will expand its business in Indonesia as it considers the country to be one of the most important markets in the Asia-Pacific.
The Jakarta Post

A New Chapter in the Diplomatic Relations between Indonesia, South Korea
South Korea has expressed interest to strengthen relations with Indonesia that enjoys a strong position in the Association of Southeast Asian Nations, former Indonesian president Megawati Soekarnoputri stated.
Netral English 

 

Feature photo David Stanley
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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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