Indonesia Morning News For October 13

National Startup Summit aims to attract 5,000 participants
Organizers of the National Startup Summit 2017 aim to attract 5,000 participants nationwide to the event scheduled to be held at the Indonesia Convention Exhibition (ICE) BSD in South Tangerang, Banten from Dec. 7 to 9.
— The Jakarta Post

Kadin Indonesia Eyes Potential Cooperation with Laos in Labor Intensive Industry
Indonesia Chamber of Commerce and Industry (Kadin Indonesia) said it would target potential investments in neighboring countries. Some ASEAN countries become mainstays in some sectors of labor intensive, education, and food and beverage industries.
— Netral News

Mining Minister Estimates Freeport Indonesia Worth $8 Billion
Indonesia’s mining minister said on Monday he estimates the local unit of Freeport-McMoRan Inc , operator of the giant Grasberg copper mine, to be worth $8 billion, amid talks over the divestment of a majority stake in the unit.
— Jakarta Globe

Asahi leaves difficult Indonesian soft drinks market to focus on alcohol business
Asahi will divest of its interest in a joint venture with Indonesia’s Indofood and retrain its focus on alcohol.
— Food Navigator

Push for Australia to open its doors to Indonesian workers under free trade deal
Indonesia is pushing for Australia to open its doors to more Indonesian workers – such as nurses and cooks – as well as removing tariffs on textiles as free trade negotiations between the two countries enter the final month.
— Sydney Morning Herald

Sunline Master International to Boost Digital Banking in Indonesia
Sunline Master International (SMI) has inaugurated its new office on 12 October 2017 following the signing of a joint venture agreement in July 2017 between Shenzhen Sunline Tech Co Ltd & PT Mastersystem Infotama.
— Asia One

Indonesia offers weapons, planes to Laos
During a press conference with Laotian Prime Minister Thongloun Sisoulith, President Joko “Jokowi” Widodo has stressed that Indonesia was ready to supply Laos with airplanes and weapons produced by two state-owned enterprises.
— The Jakarta Post

Indonesia extends Freeport’s divestment deadline
The government has extended the deadline for United States-based mining giant Freeport-McMoRan (FCX) to meet its divestment obligation to the first quarter of 2019 — three months longer than the previous time limit — following a longer-than-expected negotiation between both parties.
— The Jakarta Post

Payments in Indonesia 2017: What Consumers Want?
Cash remains the predominant payment instrument in Indonesia – especially among the rural population – accounting for 98.4% of the total volume of payments in 2017.
— Markets Insider

Europalia offers opportunities for economic cooperation
The ongoing Europalia arts and cultural festival featuring Indonesian artists in Brussels, Belgium and other European countries could pave the way for Indonesia and Europe to explore economic opportunities, Coordinating Human Development and Culture Minister Puan Maharani said recently.
— The Jakarta Post

CEO of Ralali Introduces Indonesia’s Market Potential to Chinese Entrepreneurs
CEO of Ralali.com Joseph Aditya is introducing Indonesia’s market and e-commerce potential to encourage Chinese businessmen to expand their business wings to Indonesia.
— Netral News

Indonesian Pharma Market Value “$10.11 billion by 2021”
Indonesia’s pharmaceutical market—the largest market in the Association of Southeast Nations (ASEAN)—is predicted to reach $10.11 billion by 2021, according to business and information analytics company, GlobalData.
— PharmExec.com

IT Players, Hospitality Industry Set to Connect During Exhibition
The Indonesian Internet Service Providers Association, or APJII, in cooperation with local event organizer CNG Media & Events, is set to hold an exhibition next month to connect players in information technology with those in the hospitality industry.
— Jakarta Globe

Garuda Indonesia to Add One Weekly Denpasar-Melbourne Flight in December
National flag carrier Garuda Indonesia will increase its regular flights between Denpasar, Bali, and Melbourne to eight per week on Dec. 15 to cater to growing demand from Australians wishing to visit the holiday island.
— Jakarta Globe

Fears new Jakarta rulers will go to water reversing privatisation
Drowned out by the clamour in April over the alleged blasphemy of then Jakarta governor Ahok, who is now serving a two-year jail term, was an issue that will pose a key test for the new governor and his multi-millionaire deputy when they take office on Monday.
— The Australian

APJII Connects Internet to the Hospitality Industry through IIXS Event
The advancement of internet technology has made life easier. Not only to share information, the Internet is also started to be used for industrial purposes because the various services for consumers are now beginning to be more connected to the Internet, or familiarly called the Internet of Thing (IoT).
— Netral News

Electronification of Toll Roads, BNI Distributes 300,000 Subsidized Electronic Money Cards
The preparations of toll road payment electronification will continue until October 31, 2017.
— Netral News

Economist: Gov’t Forcing Infrastructure Development May Cause Small Crisis
Economist from Universitas Indonesia (UI) Faisal Basri assessed if the Government only focuses on developing the infrastructure there will be a small crisis, because if infrastructure spending is forced it would not be in line with Indonesia’s economic growth of four percent.
— Netral News

Raw sugar import policy threatens local farmers: Legislator
The import of raw sugar should be reduced or stopped, if possible, because of the threat it poses to the production of sugarcane farmers in the country.
— Antara

Representatives of five countries to attend 2017 Komodo Travel Mart
Several travel agents from five countries have confirmed their participation in the 2017 Komodo Travel Mart (KTM) to be held on Oct 18.
— Antara

Fintech provider Kioson acquires Narindo Solusi
Listed online-to-offline trading provider PT Kioson Komersial Indonesia (Kioson) has fully acquired PT Narindo Solusi Komunikasi, a company specializing in e-voucher aggregator and other digital services.
— The Jakarta Post

Trade Expo seals $16m trading contracts on first day
The Trade Expo Indonesia 2017 recorded US$16.07 million in trading contracts on its first day at the Indonesian Convention Exhibition (ICE) BSD in South Tangerang, Banten, on Wednesday.
— The Jakarta Post

Bali ready to host 2018 IMF-WB Annual Meeting
The Indonesian government has affirmed Balis readiness to host the IMF-WB Annual Meeting to be held in October 2018.
— Antara

Feature photo Arian Zwegers
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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.