Indonesia Morning News For November 30

Rupiah exchange rate to reach Rp13,600 in 2018: INDEF
The Institute for Development of Economics and Finance (INDEF) has forecast the average rupiah exchange rate next year to reach Rp13,600 per US dollar as compared to the government`s 2018 state budget target of Rp13,400.
— Antara

Automotive Industry Indonesia: New Player Arrives from China
Chinese car manufacturers seem not afraid to compete with their Japanese counterparts on Indonesian soil.
— Indonesia Investment

Indonesia Expects 2018 Deal With Freeport on Giant Copper Mine
Indonesia expects to conclude a deal with Freeport-McMoRan Inc. by February that will see the U.S. miner shed its majority ownership of the giant Grasberg copper and gold mine.
— Bloomberg

Minister proposes to set JV firm to handle LRT project
The government has not found an answer to who is responsible for the Greater Jakarta light rail transit (LRT) project after State-owned Enterprises (SOEs) Minister Rini Soemarno expressed her wish to review the role of state-owned railway operator PT KAI as an investor.
— The Jakarta Post

Region has huge business opportunities: President
President Joko Widodo has opined that the biggest business opportunities currently existing in the region are in the tourism and lifestyle business sectors.
— Antara

Erupting volcano is suffocating Bali’s economy
A volcano spewing clouds of ash has plunged one of the world’s top tourist destinations into crisis.
— CNN Money

Indonesia, Denmark improve cooperation in maritime and energy fields
The governments of Indonesia and Denmark will improve cooperation in the fields of maritime and energy.
— Hellenic Shipping News

BI: Indonesia Sees 5.8-6.2 Percent Economic Growth in 2019
The Governor of Bank Indonesia Agus DW Martowardojo said the prospect of Indonesia’s economy in the future at the Annual Meeting of Bank Indonesia of 2017, at Assembly Hall 1 and 2 of Jakarta Convention Center (JCC), Jakarta, Tuesday (11/28/2017) night.
— Netral News

Indonesia eyes global playing field with state mining conglomerate
The day began with dozens of Indonesian government officials and state mining executives shuffling in and out of marathon meetings at one of Jakarta’s oldest hotels.
— Nikkei Asian Review

Government holds final evaluation for tax boss candidates
Representatives of several government institutions held a meeting on Wednesday to carry out final evaluations for the candidates of several high-ranking positions in the Finance Ministry, including for the people nominated for the position of director general of taxation.
— The Jakarta Post

Len Industri subsidiary completes airport train signaling system
PT Len Railway Systems, a subsidiary of state-owned PT Len Industri, had said it had completed the signaling system for the airport trains that will connect Soekarno-Hatta International Airport in Tangerang, Banten, to downtown Jakarta.
— The Jakarta Post

Taiwan’s CPC oil company to invest in India and Indonesia
State-owned CPC Corporation, Taiwan (中油) plans to take part in investments in India totaling NT$17 billion (US$567 million) and restart a naphtha cracker in Indonesia, two nations targeted by the government’s New Southbound Policy (新南向政策), reports said Wednesday.
— Taiwan News

Jasa Armada offers IPO shares at Rp 325 to Rp 530
PT Jasa Armada Indonesia, a subsidiary of state-owned port operator PT Pelabuhan Indonesia II (Pelindo II), has set its initial public offering (IPO) price at Rp 325 (2.41 US cents) to Rp 530.
— The Jakarta Post

Requiring Huge Funding, MOF Partners with Private Sector in Boosting Infrastructure Development
Finance Minister Sri Mulyani revealed that the program of President Joko Widodo or Jokowi in encouraging infrastructure program required private cooperation in order to support huge funding.
— Netral News

EU, Indonesia agree to develop local products
The European Union (EU) and Indonesia have agreed to develop local products for improving competitiveness among global nations, especially in the economic field.
— Antara

Gathering confidence
President Joko “Jokowi” Widodo speaks during the “Kompas 100 CEO Forum” held by daily newspaper Kompas in collaboration with state-owned electricity firm PLN in Jakarta on Wednesday.
— The Jakarta Post

Future of TV Advertising Uncertain as Digital Media Begins to Assert Dominance
In years past, political campaign seasons profited domestic television networks — unrivaled by nascent digital services — greatly as they covered the ins and outs of developing stories and campaign trail drama.
— JakartaGlobe

GAP Closes Down Indonesian Stores, Launches Clearance Sale
Retailer GAP at Grand Indonesia Mall offers huge discounts of up to 70 percent for its products as the store will bid farewell to Indonesian customers in February next year.
— Tempo

Soekarno Hatta Adopts Cashless Parking Starting December 1
State-owned airport operator PT Angkasa Pura II will adopt cashless parking at Soekarno-Hatta Airport starting December 1.
— Tempo

Feature photo ILO/A. Azhari

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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.