Indonesia morning news For July 20

Bank Indonesia Stays Hawkish as It Keeps Key Rate on Hold
Indonesia’s central bank left its benchmark interest rate unchanged after three hikes in a row helped to stabilize the currency in Southeast Asia’s biggest economy.
— Bloomberg

Japan Reports Bribery Requests to Indonesia’s Corruption Watchdog
While the central government of Indonesia is eager to improve the nation’s investment climate, the Anti-Bribery Commission of Japan (ABCJ) reported a number of illegal charges that were requested by Indonesian government officials or civil servants from Japanese companies that operate in Indonesia.
— Indonesia Investments (media release)

Freeport-McMoRan: Deflating Copper, Indonesian Negotiations Will Hurt The Bottom Line
Freeport-McMoRan (FCX) is one of the largest copper producing companies in the world.
— Seeking Alpha

Mandiri Capital Indonesia prepares fresh funds for 4 startups this year
Bank Mandiri’s corporate venture capital firm Mandiri Capital Indonesia (MCI) is back to look for local Indonesian startups to invest in.
— e27

INDONESIA ENERGY MINISTER ASKS PARLIAMENT TO BACK 2019 DIESEL SUBSIDY HIKE
Indonesia’s energy minister asked parliament on Thursday to approve raising the ceiling on a fixed diesel subsidy to 2,500 rupiah per litre in 2019, from 500 rupiah per litre at present.
— Reuters/ Successful Farming

Indonesia Scrambles to Mitigate Trade War With US
While bracing for the fallout from a trade war between China and the United States, Indonesia is doing its best to avoid sparking a trade war of its own with the world’s largest economy.
— Jakarta Globe

Indonesia’s Bank Mandiri H1 net profit jumps 28.7 pct
PT Bank Mandiri Tbk, one of Indonesia’s largest banks by assets, posted a 28.7 percent jump in first-half net profit on Thursday, supported by a pickup in loan growth.
— Reuters

The World of Indonesian Migrant Workers
How many Indonesian nationals currently live or work overseas? It appears that no one could provide the exact number.
— Global Indonesian Voices

First Semester in 2018, BNI Net Profit Increases 16 Percent
PT Bank Negara Indonesia (Persero) Tbk or BNI noted the net profit growth of 16 percent (yoy), from Rp6.41 trillion in the first half of 2017 to Rp7.44 trillion in the first half of 2018.
— Tempo.co

Indonesia to negotiate with US on GSP
Indonesia will soon negotiate with the US, which plans to raise the generalized system of preference (GSP) facility for Indonesia.
— Antara News

Indonesia’s road revamp is seeing new road transport connections
Indonesia’s road development programme is continuing, with a series of major projects being carried out across the country that will boost transport connections.
— World Highways

Novel narrates anti-Chinese violence during 1998 riots in Indonesia
A digital illustrated novel tells the stories of Indonesian Chinese who were attacked during the riots that toppled the Indonesian government in 1998.
— Asian Correspondent

Addressing Indonesia’s financial inclusion gap
Financial technology, or fintech, is set to play a much larger role in Indonesia.
— The Edge Markets

Technology key to developing smart cities in Indonesia
As information and communications technology (ICT) is revolutionising the way society functions, another significant transformation that ICT is capable of bringing in is the establishment of smart cities.
— Vietnam Plus

Toward graft-free democracy
Democracy is forgiving and so generous that it allows its detractors, and even those who aspire to remove it from a country, to take advantage of it in their struggle for power.
— The Jakarta Post

6 killed, 7 missing as boat capsizes off west Indonesia
Six bodies were recovered and seven others remained missing as a boat went down in waters off East Java province of western Indonesia on Thursday, a government official said.
— Xinhua

This House Member Returns IDR2 Bln Money of Bribery Case to KPK
Spokesman of the Corruption Eradication Commission (KPK) Febri Diansyah confirmed that former House Commission I member Fayakhun Andriadi returned the money amounting to IDR2 billion to the KPK.
— Netral News

Investment board focusing on internal work to prepare OSS takeover
Investment Coordinating Board (BKPM) head Thomas Trikasih “Tom” Lembong said the board was now busy with international work to prepare for the takeover of the Online Single Submission (OSS) system, while the external affairs are entrusted to the Trade Ministry.
— The Jakarta Post

Feature photo Andrew H

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.

Indonesia morning news for July 20 added by Stella-maris Ewudolu on July 20, 2018
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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.