Indonesia Morning News For May 4

Dollar’s Comeback Knocks Stocks in Indonesia as Foreign Investors Flee
One of the biggest casualties of the rising dollar is the emerging market of Indonesia, which is seeing heavy stocks selling by foreign investors.
— The Wall Street Journal

Indonesia received $13.32bn in investment in Q1 2018, rise of 11%
It has been reported that Indonesia received investment totalling $13.32bn in the first quarter of 2018.
— Business Chief

Govt Slashes Oil and Gas Regulation, Chevron Appreciates
Chevron appreciated the simplification of regulations by the Ministry of Energy and Mineral Resources and Upstream Oil and Gas Executive Task Force (SKK Migas), thereby making the oil and gas investment climate in Indonesia more competitive.
— Netral News

Waste recycling goes hi-tech
Modern industrial life has brought with it an excess of trash, which is damaging the environment while causing various natural disasters such as floods and landslides.
— The Jakarta Post

Pertamina shells out Rp 8.57t in dividend to government
State-owned oil and gas company Pertamina says it has transferred Rp 8.57 trillion (US$613.18 million) in dividend to the government from the Rp 33.3 trillion net profit it booked in 2017.
— The Jakarta Post

Indonesia Q1 GDP growth seen at 5.18pc, consumption still weak
Indonesia’s economic growth rate likely was a touch weaker in 2018’s first three months than in the previous quarter as lacklustre consumption continued to constraint the pace, according to a Reuters poll concluded on Thursday.
— Business Recorder (media release)

Former house speaker Setya Novanto will not appeal 15-year corruption sentence: lawyer
Last week’s conviction of former house speaker Setya Novanto has been hailed as a huge win in the fight against corruption in Indonesia, with the once “invincible” politician receiving a 15-year sentence for his role in the massive e-KTP (electronic ID card) graft case.
— Coconuts Jakarta

State lender BRI sees 11.58% growth in net income in Q1
State-owned lender Bank Rakyat Indonesia (Persero) saw 11.4 percent year-on-year (yoy) growth in net income in the first quarter of 2018 to Rp 7.42 trillion (US$534.24 million) from RP 6.65 trillion in the same period last year.
— The Jakarta Post

The Coalition is Heating Up
Having the support of 290 seats in the House of Representatives (DPR) is more than enough to register Joko Widodo as a presidential candidate.
— Tempo.co

Weak Consumption May Keep Indonesia From Raising Rates Just Yet
Indonesia’s central bank said it won’t hesitate to raise interest rates to stabilize the rupiah, but that plan faces a hurdle in the form of Indonesians who aren’t spending enough.
— Bloomberg

Indonesian government wants to turn haze-causing Mega Rice Project around
The Indonesian government plans to resurrect small tracts of the failed Mega Rice Project in Kalimantan, the Indonesian part of Borneo, by restoring abandoned peat areas and developing agriculture there.
— Mongabay

Indonesia Moves Towards Smart Buildings
The Building Energy Management Systems (BEMS) Market in Southeast Asia is set to develop at a compound annual growth rate of 12.2% to 2020, according to Frost & Sullivan’s.
— PR Newswire (media release)

Indonesia’s March palm oil output forecast to drop to 3.34 mln T -Reuters survey
The output of palm oil from Indonesia, the world’s top producer, likely fell slightly in March, while exports were expected to be a bit higher, a Reuterssurvey showed on Thursday.
— Reuters

Indonesia raises April Minas crude price to $68.39/bbl
Indonesia has set the official Indonesia Crude Price (ICP) for Minas crude oil at $68.39 a barrel for April, up $5.54 from the previous month, a document from the Ministry of Energy & Mineral Resources showed on Thursday.
— Business Recorder (media release)

Stainless Steel Glut Builds in China as Indonesia Ups Output
An abundance of stainless steel in China following the ramp up of new production in Indonesia is threatening stainless mills globally and the nickel producers that supply them.
— Jakarta Globe

Jokowi chairs bilateral meeting with Brunei delegation
President Joko Widodo (Jokowi) chaired a bilateral meeting with the Sultan of Brunei Darussalam, Sultan Haji Hassanal Bolkiah, and his delegation, at Bogor Palace, West Java, on Thursday.
— Antara News

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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.

Indonesia Morning News For May 4 added by Stella-maris Ewudolu on May 4, 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.