Indonesia Morning News For March 14

BI to Fine Rp300mn for Unlicensed Foreign Banknotes Carrier
Bank Indonesia or BI will give a fine of up to Rp300 million for individuals or unlicensed corporations that are carrying foreign banknotes cross-customs with a value of at least or equivalent to Rp1 billion.
— Tempo.co

Indonesia to lose $630m in revenue from coal price cap
Indonesia’s decision to impose a price cap on domestic coal prices will lower state revenue by up to 9 trillion rupiah ($630 million) this year, a senior finance ministry official said on Tuesday.
— Nikkei Asian Review

Indonesia eyes fintech regulation to avoid ‘loan shark-like’ practices
Indonesia’s financial regulator said it was considering setting a cap on interest rates and the size of loans offered by fintech firms, in a move aimed at minimizing the risk of defaults.
— The Star Online

Australia-Indonesia border tensions resurface
Indonesia’s long-held resentment over Australia’s sprawling maritime claims along their ill-defined border have spilled into the diplomatic arena following a recent settlement of a parallel dispute in neighboring Timor Leste, also known as East Timor.
— Asia Times

President issues regulation to eradicate money laundering, terrorism
President Joko Widodo has issued a Presidential Regulation No.13 Year 2018 on the Prevention and Eradication of Money Laundering and Terrorism, the information center of the Cabinet Secretary said here, Tuesday.
— Antara News

Indonesian Art Piece to be Exhibited in World Bank HQ
Finance Minister Sri Mulyani admits that she is proud of the fact that a mural art piece made by Indonesian artists will be exhibited in the upcoming World Bank-International Monetary Fund annual spring meeting in Washington DC.
— Tempo.co

Indonesia mulls imposing cap on interest rates, loans offered by fintech firms
Indonesia’s financial regulator said it was considering setting a cap on interest rates and the size of loans offered by fintech firms, in a move aimed at minimizing the risk of defaults.
— Deal Street Asia

Male civil servants in Indonesia are now entitled to one-month paid paternity leave
Indonesia took an important step towards gender equality regarding childcare as male government workers are now entitled to more paid leave time to care for their newborns.
— Coconuts Jakarta

Government orders Go-Jek, Grab, and Uber to stop hiring new drivers in Indonesia
The Indonesian government yesterday ordered a moratorium preventing ride-sharing apps in Indonesia from hiring new drivers after regulators deemed there was an excess of partner drivers working for the likes of Go-Jek, Grab, and Uber in the country.
— Coconuts Jakarta

JCI Drops 1.35 Percent, Foreign Investors Sells SOEs Stocks
Jakarta Composite Index (JCI) closed down 87.8 points (-1.35 percent) to 6,412 at the end of trading on Tuesday (3/13/2018). Only as many as 108 stocks rose, 241 fell, and 123 others stagnated.
— Netral News

Indonesia, Rusia in agreement over two-state solution
Indonesia and Russia agree that the only peaceful answer for the Palestinian-Israeli conflict is a two-state solution, as top diplomats from the two countries met for talks on various issues on Tuesday.
— The Jakarta Post

Rupiah Depreciates 7 Points to IDR13,753 on Tuesday
Rupiah exchange rate transacted interbank in Jakarta on Tuesday (3/13/2018) morning moved slightly weakening by seven points to IDR13,753 compared to the previous position of IDR13,746 per US dollar.
— Netral News

Incentives prepared for rich Indonesians who keep their wealth in country
Finance Minister Sri Mulyani Indrawati has encouraged wealthy corporations and individuals to keep their wealth in Indonesia as their valuable contribution to the nation.
— The Jakarta Post

S&P Cautions on Worsening Balance Sheets at Indonesian State Firms
Standard & Poor’s Global Ratings has highlighted a deterioration in the balance sheets at Indonesian state-owned enterprises involved in a government-led infrastructure push in Southeast Asia’s biggest economy.
— Jakarta Globe

SOS carved into palm oil plantation to highlight impact on Indonesia’s people and wildlife
A Lithuanian artist has carved a giant SOS message into an Indonesian palm oil plantation to draw attention to the damage done by deforestation and highlight the impact on people and wildlife.
— ABC News

IDX Prepares New Regulation to Simplify IPO for Oil, Gas Companies
The Indonesia Stock Exchange (IDX) is preparing a new regulation that could simplify oil and gas companies to obtain funding from the capital market through initial public offering or IPO. If there is no obstacle, this regulation can be officially launched in the third quarter of 2018.
— Netral News

Indonesia’s Feb motorbike sales fall 3.1 pct y/y
Indonesia’s motorcycle sales in February fell 3.1 percent from a year earlier, data from an industry association showed on Tuesday.
— Reuters

Indonesia President Joko Widodo buy a majority stake in Freeport-McMoRan Inc. (NYSE:FCX)
Indonesia President Joko Widodo has instructed his administration to complete negotiations over the purchase of a majority stake in Freeport-McMoRan Inc. (NYSE:FCX)’s local unit by the end of April, a cabinet minister said late on Monday.
— Benchmark Monitor

Indonesian President Joko Widodo to visit
Indonesia’s President Joko Widodo will visit New Zealand from 18 to 19 March, Prime Minister Jacinda Ardern announced today.
— Beehive.govt.nz

PT MRT Jakarta discusses funding scheme with AIIB
PT Mass Rapid Transportation (MRT) Jakarta has discussed funding scheme with Asian Infrastructure Investment Bank (AIIB) for its future project.
— Antara News

Too Many Online Taxis May Lead to Non-performing Loan, Luhut Says
Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan explained that the government introduced a quota limiting online taxis to avoid the potential of non-performing loans.
— Tempo.co

Indonesia`s first-quarter growth to exceed 5.01 percent: BI
Bank Indonesia (BI) Governor Agus Martowardojo believes that the national economy will grow above 5.01 percent in the first quarter of 2018 or higher than the growth in the same period of 2017.
— Antara News

Feature photo Sip Khoon Tan

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 March 14 added by Stella-maris Ewudolu on March 14, 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.