Indonesia morning news for February 20

Indonesia morning news for February 20

Indonesia morning news

$76 Billion Fund Gives Contrarian Call for Indonesia Rate Cut
Indonesia’s central bank should signal interest-rate cuts to draw more foreign money into the nation’s bonds, according to a top emerging markets asset manager.
— Bloomberg

Government ready to spend $1.1 billion on addressing oil and gas deficit
The Indonesian government is ready to spend US$1.1 billion on oil and gas exploration to address a rising deficit of oil and gas, which is expected to begin in 2015 and reach its peak in 2050.
— Antara News

Indonesia sees $1.6bn gain from halal labelling rule
Indonesia is set to make halal labelling mandatory for consumer products and services this year with the government assuming greater control of the certifying process from the Muslim-majority nation’s Islamic cleric council.
— Gulf Times

Indonesia to launch Islamic economy masterplan, compulsory halal labeling not ‘postponed’, starts Oct 17 – officials
Indonesia’s National Committee for Islamic Finance (KNKS) will launch an Islamic economy masterplan in March to boost development of the country’s real economy and halal industries, Sutan Emir Hidayat, its Islamic Financial Education and Research Director told Salaam Gateway.
— Salaam Gateway

Financial authority mulls regulation on disgorgement funds
The Financial Services Authority (OJK) is considering issuing a regulation on disgorgement funds to protect investors who suffer losses because of criminal acts on the stock exchange.
— The Jakarta Post

AI, IoT and big data to drive data center growth in Indonesia
The launch of new data centers in Indonesia indicates that there is an extensive shift in business priorities that is driving the local enterprises to adopt multi-cloud strategies.
— Telecomasia.net

Mass grave containing HUNDREDS of Boxing Day tsunami victims is unearthed in Indonesia 15 years after 230,000 died in the disaster
A mass grave containing the remains of hundreds of Boxing Day tsunami victims has been unearthed in Indonesia.
— Daily Mail

Indonesia submits formal bid to host the 2032 Olympics
Indonesia has submitted a bid to host the 2032 Olympics, officials said Tuesday, February 19, after the Southeast Asian nation’s widely lauded handling of the Asian Games last August 2018.
— Rappler

RI secures $10.95m in investment for three oil, gas blocks
The Energy and Mineral Resources Ministry on Monday recorded a US$10.95 million investment commitment from operators (KKP) for exploration activities and well developments in three oil and gas blocks that were auctioned last year.
— The Jakarta Post

Indonesia turns to the manufacturing sector to build an upper-middle-income economy
Indonesia is again embarking on an ambitious mission to propel the country among the top ten biggest economies in the world.
— Asean Today

Bali looks to turn the tide on Indonesia’s plastic waste
It’s not even 07:00 and hundreds of men and women are walking up and down Bali’s western coast, grabbing all the rubbish they can find.
— Intellasia

General elections tend to be hostile: Mahfud MD
Constitutional law expert Mahfud MD opined that the ongoing general election process tended to be hostile, as though it is no longer about selecting a leader, for which he called for efforts to ease tensions.
— Antara News

Analysis: Indonesia’s heavy equipment industry to grow slightly in 2019
Indonesia’s heavy equipment industry in 2019 is predicted to grow only slightly or even be stagnant.
— The Jakarta Post (paywall)

Indonesia and Saudi Arabia hold workshop for digital collaboration
A 2-day workshop that aims to formulate strategy between Indonesia and the Kingdom of Saudi Arabia was held recently.
— OpenGov

Indonesia govt to open yet another office in Singapore to boost investment
The Indonesian government will open an office to boost investment from Singapore, although Indonesian offices with the same purpose already exist in the neighbouring country.
— The Straits Times

IFC extends $275m loan package to Indonesian diversified firm Trans Corp
The International Finance Corporation (IFC), the private lending arm of the World Bank Group, has announced an extension of a $275 million loan package to Trans Corp, a wholly owned subsidiary of Indonesian consumer-focused conglomerate group CT Corp.
— Deal Street Asia

BMKG: M 5.9 Earthquake Strikes East Java`s Southern Coast
The Meteorology, Climatology, and Geophysics Agency (BMKG) announced from its official Twitter account of a magnitude 5.9 earthquake hitting East Java’s south coast at 02:30 western Indonesia time (WIB).
— Tempo.co

RoK to speed up CEPA talks with Indonesia
The Ministry of Trade, Industry and Energy of the Republic of Korea (RoK) said on February 19 that it has decided to resume talks on the signing of the Comprehensive Economic Partnership Agreement (CEPA) with Indonesia after a hiatus of five years.
— Vietnam Plus

Shariah-compliant fintech to improve financial inclusion
Home to the largest Muslim population, Indonesia is looking to sharia-compliant financial technology (fintech) to enhance financial inclusion in the country, where access to financing remains limited.
— The Jakarta Post

Indonesia, South Korea aim to sign trade deal by November
Indonesia and South Korea agreed on Tuesday to resume talks on a bilateral trade and investment agreement and aimed to sign a deal by November.
— Reuters

Presidential debate fails to mention climate change impacts: Walhi
The Indonesian Environmental Forum (Walhi) has expressed disappointment with Indonesia`s presidential candidates for failing to mention the climate change impacts and forest issue during the second round of the presidential election debate on Sunday evening.
— Antara News

Indonesian presidential hopefuls vow energy self-sufficiency via palm
Indonesia’s two presidential candidates pledged to achieve energy self-sufficiency by boosting the use of bioenergy, particularly fuelled by palm oil, to cut costly oil imports by Southeast Asia’s biggest economy.
— Intellasia

Indonesia steel industry needs additional 15,000 workers by 2025
Tempo reported that Indonesia’s Industry Minister Airlangga Hartarto at the ground breaking of the industrial vocational school of PT Gunung Raja Paksi said that “To reach the target of 10 million tonnes, we would need some 15000 more workers.
— SteelGuru

Finance Ministry to review import tax hike for 1,147 consumer goods
The Finance Ministry will look into the possibility of revising a policy it had implemented last September that increased import tax on 1,147 consumer goods products after concerns were raised that it hampered the supply chain for exports.
— The Jakarta Post

Palm oil firms bring no direct benefits for W Kalimantan: governor
The presence of palm oil companies in West Kalimantan has brought no significant benefits to the locals, instead, its operation has damaged roads in the region, West Kalimantan Governor Suratmidji said.
— Antara News

Drug traffickers target Indonesian millennial generation: House Speaker
The drugs proxy war has targeted Indonesia`s millennial generation, as is indicated by increased smuggling of drugs into Indonesia, according to Speaker of the Indonesian House of Representatives (DPR) Bambang Soesatyo.
— Antara News

HIV discrimination in Indonesia
Last week, local media in Indonesia broke a story that 14 students with the human immunodeficiency virus (HIV), had been expelled from a public elementary school following demands from parents of other students.
— The Asean Post

MRT to help improve urban transport in Indonesia
Indonesia’s Jakarta capital city is set to debut its first Mass Rapid Transit (MRT) system in March in the hope of easing traffic jam.
— Vietnam Plus

Grab launches video streaming in Indo, 3 more SEA markets to follow
Grab has added on video content on its platform for its consumers in Indonesia starting 13 February.
— Marketing Interactive

Papuan groups declare boycott of Indonesia’s elections
The Indonesian People’s Front for West Papua, or FRI West Papua, and the Papuan Student Alliance say Indonesia’s government has failed Papuans.
— Radio New Zealand

Islamic boarding school student allegedly killed by 19 schoolmates after being accused of stealing
Robi Alhalim, an Islamic boarding school student at Pondok Pesantren Nurul Ikhlas in the West Sumatra city of Padang Panjang, died yesterday morning after he was allegedly beaten by his fellow students.
— Coconuts Jakarta

KPK, Australia Discuss Corruption Prevention in Private Sector
The Corruption Eradication Commission (KPK) met with Australian Ambassador Gary Quinlan on Monday, February 18.
— Tempo.co

UK, Indonesia to Sign MoU on Low Carbon Energy Development
The British and Indonesian Governments will sign an agreement on low carbon energy development on Wednesday, February 20.
— Tempo.co

Village Minister Sad to See Infrastructure Conditions at Seluma
Eko Putro Sandjojo, Indonesia Minister of Villages, Development of Disadvantaged Areas, and Transmigration, was touched by the conditions of infrastructure in a number of villages in Seluma District, Bengkulu, which was considered very apprehensive.
— Netral News

Coworking spaces offer versatile settings for technopreneurs in Yogyakarta and Bali
The transition from a commodity-based to a creative-based digital economy has opened many opportunities for technopreneurs across the globe.
— The Jakarta Post

 

Feature photo kolibri5

 

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.

 

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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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