Indonesia morning news for August 1

Indonesia morning news for August 1

Indonesia morning newsIndonesia to begin construction of $3bn Patimban Port
The Government of Indonesia is set to begin the construction of Patimban Port in Subang, West Java, next month with an investment of IDR43.2tn ($3bn).
— Ship Technology

Cambodia’s Opposition Party Calls on Indonesia, Asean to Reject Rigged Election
Cambodia’s banned opposition party called on Indonesia to reject the results of Sunday’s (29/07) election, warning of regional instability and stressing the importance of the Association of Southeast Asian Nations in helping the former French colony return to democracy.
— Jakarta Globe

Indonesia’s Pertamina to take over Chevron’s Rokan block in 2021
Indonesia has decided Pertamina will take over operation of the Rokan oil block, the country’s second-biggest crude producing field, once Chevron’s operating contract there expires in 2021, Deputy Energy Minister Arcandra Tahar said on Tuesday.
— Today Online

BI: Payment gateway saves Rp 17.75b daily in transaction costs
Bank Indonesia has said that the national payment gateway (GPN) saves Rp 17.75 billion (US$1.23 million) in transaction costs per day.
— The Jakarta Post

Indonesia pushes biodiesel plan to stop currency tanking
Indonesia’s president called on Tuesday for the immediate implementation of a plan to widen the use of biodiesel that his economic ministers hope will cut the country’s fuel import bill by billions of dollars and halt a decline in the rupiah currency.
— The Star Online

Indonesian president, citing trade war concerns, says country needs ‘dollars now’
Indonesian President Joko Widodo has asked his ministers to make “serious” efforts to strengthen the country’s foreign exchange reserves amid pressures caused by a global trade war.
— CNBC

Rabies warning for tourists after infected dog carcass found in Indonesian market
Tourists to Indonesia could be at risk from contaminated dog and cat meat after a dog carcass being sold for human consumption tested positive for rabies, animal rights activists have warned.
— The Sydney Morning Herald

Indonesia to tighten fish imports with new rules
The Indonesian ministry of trade issued a new regulation (66 of 2018) to regulate fish imports, authorizing imports only from companies with API-P (producer) and API-U (general) licenses issued by the ministry, Ein News reported.
— Undercurrent News

Garuda issues Rp 2t asset securitization
In its latest corporate move, National flag carrier Garuda Indonesia issued on Tuesday asset-backed securities under collective investment contracts (KIK-EBA) totaling Rp 2 trillion (US$138.7 million) on the Indonesia Stock Exchange (BEI).
— The Jakarta Post

Indonesia approves MUFG’s stake increase in Bank Danamon to 40 percent
Indonesian regulators have cleared Japanese lender Mitsubishi UFJ Financial Group’s (MUFG) (8306.T) plan to increase its stake in Bank Danamon (BDMN.JK) to 40 percent, bringing MUFG closer to completing what could be the biggest takeover of an Indonesian firm.
— Reuters

Rupiah Depreciation Affects Companies with Debts in US Dollar
The reversal of capital caused by trade wars between the United States (US) and China and the rise in US benchmark interest rates, still affects financial markets of a number of developing countries including Indonesia, India, the Philippines and other countries in Southeast Asia, which leads to currency weakness.
— Netral News

Two steps forward in Indonesia’s foreign worker policy?
Controversy has surrounded revision of Indonesia’s foreign worker regulations ever since the Presidential Regulation (PP20) on the subject was issued on 26 March 2018.
— East Asia Forum

ABB commits to support Indonesia’s digital economy
Today, the energy revolution and the fourth industrial revolution are going on at the same time.
— The Jakarta Post

Bank Indonesia Urges Gov’t to Be More Selective in Infrastructure Projects
The central bank of Indonesia (Bank Indonesia) believes that the Indonesian government needs to make a more careful selection in terms of infrastructure development projects in order to curtail the big amount of imports that put pressure on the country’s current account balance and rupiah exchange rate.
— Indonesia Investments (media release)

Indonesia-China Steel Trade Clouded by Dumping Allegation and Import Worries
China, the United States and Japan are currently the largest importers of steel and other non-oil and gas products from Indonesia.
— Global Indonesian Voices

Indonesia leaves coal DMO, domestic price cap unchanged
Indonesia’s President Joko Widodo has decided to keep the current price cap on domestic thermal coal procurement and is against revoking the domestic market obligation policy, a senior government official said Tuesday.
— S&P Global Platts

Indonesian court bans ISIL-linked group behind deadly attacks
An Indonesian court has disbanded Jamaah Ansharut Daulah (JAD), the country’s largest ISIL-linked group for “conducting terrorism” and affiliating itself with the foreign organisation.
— Aljazeera.com

Indonesia to auction three onstream blocks in August
The government is set to open bidding for three ready-to-produce oil and gas blocks — Makassar Strait, Selat Panjang and South Jambi B — in the first week of August.
— The Jakarta Post

‘No problem’ with non-Muslims holding high political office in Indonesia: Agus Yudhoyono
Agus Harimurti Yudhoyono, a possible vice-presidential candidate in the country’s 2019 general election, said that Indonesia’s leaders must be chosen “based on capacity, on [their] integrity. Not because of religion, ethnicity or race”.
— Channel NewsAsia

Muslims join charity run to build churches in Indonesia
Over 3,500 people, mostly Catholics, joined a charity run organized by Indonesia’s Jakarta Archdiocese to raise money to build churches in various parts of the country.
— UCA News

Democrats Join Opposition Coalition, Endorse Prabowo’s Presidential Bid
Susilo Bambang Yudhoyono has declared his support for Prabowo Subianto’s candidacy in next year’s presidential election following a second meeting between the two political party leaders on Monday (30/07).
— Jakarta Globe

North Korea’s Kim Jong Un receives invitation from Indonesia to Asian Games
A team of Indonesian officials visited North Korea this week to extend an invitation from President Joko Widodo to North Korean leader Kim Jong Un to attend the Asian Games opening ceremony in Jakarta in August, Indonesia’s National Police said.
— Devdiscourse

Indonesia raises 20 trillion rupiah in bond auction
Indonesia raised 20 trillion rupiah ($1.39 billion) in a bond auction on Tuesday, the maximum target amount, the financing and risk management office at the finance ministry said in a statement.
— Business Recorder (media release)

Garuda to have eight new units of airbus and boeing aircraft
The state owned airline Garuda Indonesia said it will have eight new units of aircraft in the next two years including 3 units of Airbus A330-900 neo in 2019 and five units of Boeing 737 Max 8 in 2020.
— Antara News

Decree on extended odd-even policy has been signed: Sandiaga
The city administration has issued a gubernatorial decree on the extended odd-even license plate policy, which will officially take effect on Wednesday, according to Jakarta Deputy Governor Sandiaga Uno, who claimed to have signed it along with Jakarta Governor Anies Baswedan on Tuesday.
— The Jakarta Post

1,091 Mt. Rinjani Hikers Evacuated, One Dead
As many as 1,091 Mount Rinjani hikers that were trapped when 6.4 magnitude earthquake struck Lombok, West Nusa Tenggara (NTB), on early Sunday, had been successfully evacuated.
— Tempo.co

Indonesian satellite ready for launch
Indonesia’s ‘Merah Putih’ satellite is being readied at Cape Canaveral for launch, likely on August 4th, by a SpaceX rocket.
— Advanced Television

Japan beef supplies to Indonesia on the rise
Japanese eateries are expanding in Indonesia as the appetite for beef rises among south-east Asia’s most populous country’s growing middle class.
— Globalmeatnews.com

Indonesia to host ASEAN audit regulators meeting
The Finance Ministry’s Financial Profession Development Center (PPPK) will host the ASEAN Audit Regulator Group (AARG) 2018 inspection workshop and a meeting with the Big Four auditors in Jakarta from July 31 to Aug. 2, an official has said.
— The Jakarta Post

 

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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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