8 June 2018

Germany, Indonesia, South Africa, Dominican Republic, Belgium, elected to Security Council

In a single round of voting on Friday, the United Nations General Assembly elected five new non-permanent Members of the Security Council, who will each serve two-year terms on the body that sets the UN’s whole peace and security agenda.

15 June 2017

Intudo Ventures launches $10M fund for Indonesia’s fast-growing startup ecosystem

Indonesia is one of Southeast Asia’s most promising startup market. Today, its ecosystem gained a new investor with the launch of Intudo Ventures’ debut fund, which has more than $10 million to invest into about 12 to 16 early-stage startups, as well as joint ventures with overseas companies that want to break into the Indonesian market.

14 June 2017

Indonesia, Norway waive visa requirements for diplomatic and service passports

Indonesia and Norway have agreed to waive visa requirements for diplomatic and service passports, according to a statement from the Foreign Ministry. 

14 June 2017

Philippines, Malaysia, Indonesia to start joint patrols next week

The Philippines, Malaysia and Indonesia are set to conduct joint naval patrols in the Sulu Sea beginning next week to cease cross-border kidnap for ransom schemes.

11 June 2017

How Many Islands Does Indonesia Have? Government to Count

Indonesia is known as the world's largest archipelago. However, local authorities do not exactly know how many islands Indonesia actually has. Back in 1996 the central government made a rough estimate of 17,500. However, rising concerns about illegal fishery and radical Islam as well as growth of protectionism (the battle for natural resources) has made the Indonesian government eager to turn the rough estimate into precise knowledge. However, this will not be an easy undertaking.

26 May 2017

Integrated Investment Projects in Indonesia: North Sulawesi

Thomas Lembong, Head of the Indonesia Investment Coordinating Board (BKPM), said he wants Indonesia to tap the momentum of the recent "One Belt, One Road" summit in Beijing (China), organized earlier this month, by promoting three Indonesian provinces to foreign investors as a great investment destination. These three provinces are North Sumatra, North Kalimantan, and North Sulawesi. bong, Head of the Indonesia Investment Coordinating Board (BKPM), said he wants Indonesia to tap the momentum of the recent "One Belt, One Road" summit in Beijing (China), organized earlier this month, by promoting three Indonesian provinces to foreign investors as a great investment destination. These three provinces are North Sumatra, North Kalimantan, and North Sulawesi.

24 May 2017

Indonesia's Gayo Arabica Coffee Awarded Protected Status by EU

For the first time a product from Indonesia obtained the Protected Geographical Indications (PGI) status from the European Union (EU). The product is "Kopi Arabika Gayo", a coffee made from the high-quality arabica beans and is cultivated in the Gayo highlands of Indonesia's province of Aceh on the northern tip of Sumatra. This special status means the product will benefit from the same protection and market added-value compared to EU protected products.

15 May 2017

How Much Money Can I Carry when Traveling to Indonesia?

Starting from March 5, 2018, Indonesian citizens as well as foreigners need to be a bit more careful when bringing foreign-denominated cash money into Indonesia. A new Bank Indonesia regulation sets a IDR 1 billion (approx. USD $75,000) ceiling on the total amount of foreign cash money an individual can bring into Indonesia.

12 May 2017

Fast Food Indonesia: Rising Earnings on KFC Outlet Expansion

Fast Food Indonesia, the only franchise holder of the Kentucky Fried Chicken (KFC) brand in Indonesia, added five new KFC outlets in the first quarter of 2017. This is a mediocre result considering the company targets to open a total of 30 new KFC stores across Indonesia in full-year 2017. With the five additional outlets in Q1-2017 Fast Food Indonesia now operates 580 KFC outlets across the Archipelago.

10 May 2017

Bank Central Asia Now Largest Company on Indonesia Stock Exchange

Bank Central Asia (BCA) is now the the biggest company in terms of market capitalization on the Indonesia Stock Exchange (IDX). At the end of trading on Tuesday (09/05) the company's market cap stood at IDR 443.8 trillion (approx. USD $33.4 billion), replacing cigarette manufacturer HM Sampoerna with its market cap at IDR 440.8 trillion. BCA, part of the Djarum Group, is the second-largest bank in Indonesia in terms of assets.

3 May 2017

National Geographic: Borobudur 3rd among Adventure Tourism Sites

National Geographic, the official magazine of the National Geographic Society that has been published continuously since 1888, ranked Indonesia's Borobudur temple third in its global iconic adventure tourism sites, hence acknowledging the temple's uniqueness as well as cultural and historic value. The Borobudur, a ninth-century Mahayana Buddhist temple, is also listed by UNESCO as a World Heritage Site (since 1991).

26 April 2017

Indonesian Energy Companies in Focus: ABM Investama

Indonesia Investments updated the company profile of ABM Investama in the Indonesian companies section. ABM Investama, listed on the Indonesia Stock Exchange, is an Indonesia-based holding company that is primarily focused on energy-related sectors, covering coal production, mining contractor services, and power solutions. After two years of net losses the company posted net profit of USD $12.89 million in 2016 supported by cost efficiency improvements in all business lines and the surging coal price in the second half of 2016.

25 April 2017

Kalbe Farma to Produce Erythropoietin (EPO) for Indonesia

Kalbe Farma, Indonesia's largest pharmaceutical company, is set to start marketing its erythropoietin product (also known as EPO) domestically. Starting from mid-2018 Kalbe Farma will produce EPO, one of the raw materials for the production of medicines to treat cancer and kidney disease. The pharmaceutical company, listed on the Indonesia Stock Exchange, will become the first EPO producer in Southeast Asia.

22 April 2017

Charoen Pokphand Indonesia to Acquire Convenience Store 7-Eleven

Charoen Pokphand Indonesia, the nation's largest producer of poultry feed, day old chicks and processed chickens, is set to acquire convenience store (franchise) 7-Eleven from Modern Putra Indonesia, a subsidiary of Modern Internasional. The deal, which is worth IDR 1 trillion (approx. USD $75 million), now only requires approval from Modern Internasional's shareholders. Rumors about this take-over had been heard since late March 2017.

11 April 2017

Pulp and Paper Industry Indonesia: Challenges and Opportunities

The pulp and paper industry of Indonesia is on the receiving end of plenty of criticism for its negative impact on the environment. However, the industry also plays a major role in the Indonesian economy, accounting for 6.7 percent of the country's processing industry's gross domestic product (GDP) and providing employment to 260,000 direct workers and 1.1 million indirect workers. Last year, in 2016, Indonesia's pulp and paper industry ranked seventh in terms of biggest foreign exchange earners (excluding the oil and gas sector) when it reaped USD $3.79 billion.

27 March 2017

Biggest Publicly Listed Indonesian Companies Did Well in 2016

After having experienced overall weakening corporate earnings in 2015, Indonesia's largest companies saw rising net profit in full-year 2016 (in line with Indonesia's accelerating macroeconomic expansion last year). Of the ten biggest Indonesian companies (biggest in terms of largest market capitalization on the Indonesia Stock Exchange) only cigarette manufacturer Gudang Garam is yet to release its full-year 2016 financial results. The combined results of the other nine showed a marked improvement from the situation one year earlier.

17 March 2017

Stock Market Indonesia: Jakarta Composite Index at Record High

Indonesia's benchmark Jakarta Composite Index finished at an all-time record level on Friday (17/03), supported by mostly rising Asian stocks as global investors are attracted again by higher-yielding assets in emerging markets after the US Federal Reserve turned out to be not as "hawkish" as market participants had assumed. Indeed the Fed raised its key Fed Funds Rate by 25 basis points at the March policy meeting but the US central bank emphasized that further interest rate hikes would be gradual.

6 March 2017

Coffee Production of Indonesia to Rise or Fall in 2017?

Production of coffee in Indonesia is estimated to grow around 10 percent to the range of 650,000 - 700,000 tons in 2017, says the Indonesia Coffee Exporters Association (GAEKI). In 2015 Indonesia's coffee production is estimated to have fallen to 600,000 tons due to the impact of El Nino, a weather phenomenon that brought dry weather to Southeast Asia hence plaguing harvests of agricultural commodities. GAEKI Chairman Hutama Sugandhi added that Indonesia's coffee export performance also declined in 2016.

4 March 2017

Trade: Indonesia & the Indian Ocean Rim Association (IORA)

Considering ongoing uncertainty about the future of the Trans Pacific Partnership (TPP) after US President vowed to exit this trade deal, Indonesia is eager to find other strategies to boost Indonesia's export performance. The Indonesian government therefore plans to boost trade with the other 20 countries that are part of the Indian Ocean Rim Association (IORA). Total trade among these IORA nations reached USD $777 billion in 2015. Indonesia joined the IORA in 1997. However, the trade potential posed by this block has not been tapped optimally yet by Indonesia.

1 March 2017

What about the Performance of Indonesia's Rupiah in 2017?

Despite US dollar strength amid promised tax cuts in the USA and looming higher US interest rates, the Indonesian rupiah is not expected to depreciate as much as its Asian counterparts according to the DBS Bank. On Wednesday (01/03) the rupiah weakened 0.19 percent to IDR 13,363 per US dollar (Bloomberg Dollar Index). So far this year, however, the rupiah has strengthened nearly one percent against the greenback.

27 February 2017

Airports in Indonesia: Bali's Ngurah Rai World's 3rd-Best Airport

Airport Councils International, the only worldwide trade representative of the world's airports, considers Bali's I Gusti Ngurah Rai International Airport the world's third-best airport in the category "airports with an annual passenger capacity of 15-25 million people in 2016". The airport's score improved from 4.74 in the 2015 edition to 4.92 in the latest edition. To continue improving its performance, the airport operator will continue to invest in airport facilities as well as supporting infrastructure.

18 February 2017

Indonesia Posts 3rd-Largest Modern Retail Sales Growth in Asia

In 2016 Indonesia was the third-largest Asian country in terms of modern retail sales growth after India and China. Last year Indonesia's modern retail sales expanded 10 percent to IDR 200 trillion (approx. USD $15 billion). Roy Nicholas Mandey, Chairman of the Indonesian Retailers Association (Aprindo), said Indonesia remains an attractive country for retailers due to the enormous size of the population. Moreover, due to economic growth this population constitutes a strengthening consumer force. Lastly, Indonesians are known as people who are eager to try and buy new products.

13 February 2017

Update 3rd Runway at Indonesia's Soekarno-Hatta Airport

State-owned airport services company Angkasa Pura II, which operates airports in the western part of Indonesia, says construction of the third runway of the Soekarno-Hatta International Airport (located just outside Jakarta) will start in April 2017. This new runway, which requires about IDR 2 trillion (approx. USD $150 million) worth of investment, is expected to be ready for use in mid-2018. Soekarno-Hatta International Airport, the country's main port of entrance, is target of an ambitious expansion and renovation program with the aim to boost competitiveness by raising the airport's passenger capacity and flight frequency.

7 February 2017

What is Indonesia's Progressive Tax on Idle Land Ownership?

Sofyan Djalil, Indonesian Minister of Agrarian Affairs and Spatial Planning, says the progressive tax on land that is deemed idle will not disturb the investment climate of Indonesia because industrial estates and land that has a clear development purpose are exempted from this tax (this includes land destined for property development projects). Through the progressive land tax the government wants to combat speculative land buying, something that has become a problematic phenomenon in Indonesia.

3 February 2017

Indonesia Opens Doors for Gas Imports to Boost Competitiveness

The government of Indonesia decided to allow more imports of gas for the domestic industry, a decision that should put downward pressure on Indonesia's gas price. Many players in Indonesia's manufacturing industry have complained about the high domestic gas prices. This causes high production costs and therefore Indonesian manufacturers lack competitiveness (compared to foreign counterparts), while foreign investors think twice before investing in the nation's manufacturing industry.

22 January 2017

Tourism Sector Indonesia: Rising Foreign Exchange Earnings

The tourism sector of Indonesia has great potential for rapid growth in the years ahead as the government has been eager to boost growth in this sector by allowing more countries to use the visa-free visit facility and by spending more on infrastructure development to enhance inter- and intra-connectivity (including the development of new airports and harbors). Moreover, Indonesia's tourism sector has plenty of opportunity to expand rapidly because this sector comes from a very low base (for example, compared to regional peers, Indonesia attracts relatively few foreign tourists).

17 January 2017

Nusantara Tropical Farm, Largest Producer of Bananas in Indonesia

Nusantara Tropical Farm, a Sumatra-based producer and exporter of tropical fruit in Indonesia, targets to export 1.8 million boxes of Cavendish bananas in 2017. This would be a 58 percent year-on-year (y/y) growth compared to 1.14 million boxes of exported Cavendish bananas (equal to 15,400 tons) in the preceding year. Nusantara Tropical Farm, the largest grower of Cavendish bananas in Indonesia, is part of the Gunung Sewu Group. This group operates diversified businesses in insurance, food, real estate, consumer and mining.

16 January 2017

Aviation Industry Indonesia: Lion Air Eyes 15% Air Passenger Growth

Indonesian low-budget airline Lion Air targets to see a 15 percent year-on-year (y/y) increase in air passengers to 38.25 million in 2017, from 33.26 million passengers that were carried by the airline in the preceding year. Daniel Putut, Director for Business Development at the Lion Air Group, said the airline will need to achieve this target without expanding its fleet size, which currently numbers 113 units. Lion Air, founded by Rusdi Kirana, is one of the biggest airlines of Indonesia, dominating the low-budget segment.

12 January 2017

World Bank Optimistic about Private Investment in Indonesia

Rising private sector investment and strengthening commodity prices are the correct ingredients that can trigger accelerated economic growth in several Southeast Asian nations in 2017. In a report entitled "Global Economic Prospects: Weak Investment in Uncertain Times", which was released on Tuesday (10/01), the World Bank set its forecast for Indonesia's economic growth at 5.3 percent year-on-year (y/y) in 2017, followed by a 5.5 percent (y/y) growth rate in both 2018 and 2019, up from an estimated growth rate of 5.1 percent (y/y) in 2016.

6 December 2016

Indonesia just made a huge move to protect the climate

A new decision from the government of Indonesia could be a major boon for both public health and the global climate. On Monday, President Joko Widodo announced a moratorium on all activities that could damage the nation’s peat-filled wetlands, a move that could help prevent wildfires and billions of tons of carbon dioxide emissions over the next few decades.

7 November 2016

Indonesia posts 5% growth in Q3

Indonesia's economy grew largely in line with market expectations in the third quarter, though lower government spending and a slowdown among its major trading partners proved a drag on growth.

17 October 2016

Indonesia turtles find new freedom as they scurry into sea

A group of turtles scurried down a beach and glided into the sea, enjoying their newfound freedom after being cared for at an Indonesian conservation centre.

11 October 2016

Indonesia to deploy 850 peacekeeping troops to Lebanon

Indonesia is set to deploy 850 peacekeeping soldiers to the United Nations Interim Force in Lebanon (UNIFIL) in December, a minister has said.

3 August 2016

KPJ explores setting up oncology centre in Indonesia

PEtALING JAYA: KPJ Healthcare Bhd has entered into a memorandum of understanding (MoU) with two Japanese partners to explore the possibility of developing a US$12mil oncology centre at one of its hospitals located outside of Jakarta, Indonesia.

3 August 2016

Malaysia, Indonesia firms to co-develop Jakarta housing

Malaysian and Indonesian property companies have formed a partnership to develop affordable housing projects in Greater Jakarta to meet demand from the nation’s growing middle class.

3 August 2016

'Wonderful Indonesia' campaign boosts tourism industry

The government’s efforts to promote tourism in the archipelago with its Wonderful Indonesia campaign have had a positive impact, the president director of tour and travel company Panorama Sentrawisata said on Tuesday.

3 August 2016

Indonesia delays rules for reporting credit card customer data

Aug 3 Indonesia's finance ministry has delayed a regulation requiring all credit card providers to submit customer data to the tax office until the end of its tax amnesty programme, a tax spokesman told Reuters.

3 August 2016

Australia provides Indonesia with A$500,000 for carbon accounting system

Australia will provide Indonesia with A$500,000 to support the country’s carbon accounting system. The newly appointed Australian Minister for the Environment and Energy Josh Fryndenberg revealed on Wednesday that the new commitment was part of its national carbon accounting system with a special focus on emissions from peat land.

2 August 2016

Update Tax Amnesty Program of Indonesia: Results So Far?

Although the peak of repatriated fund flows and tax declarations - in the context of Indonesia's tax amnesty program - are expected to occur in the months September and October 2016, there is room for concern whether the ambitious targets of the government can be achieved. Between the launch of the program on 18 July and 1 August 2016 the government only saw IDR 98.43 billion (approx. USD $7.6 million) of additional income from 464 tax payers, while it targets to collect a total of IDR 165 trillion (approx. USD $12.7 billion) within a nine-month period.

2 August 2016

Indonesia trade deal Steve Ciobo's top priority after bilateral meeting with Enggartiasto Lukita

Federal Trade Minister Steve Ciobo has admitted his hopes that a free trade agreement with Indonesia will be signed by next year are ambitious, but says he is making it his top priority.

30 July 2016

Last few hidden treasures of Indonesia head towards a tourism transformation

Millions of Australians holiday in Bali, but across Indonesia there are thousands of breathtakingly beautiful islands the world remains almost entirely unaware of.

29 July 2016

Indonesia central bank sees 2016 GDP growth at 5.09 percent: governor

Indonesia's central bank governor said the economy may grow by 5.09 percent in 2016, with growth in the third quarter sen at 5.2 percent.

29 July 2016

Indonesia will be Asia’s next biggest e-commerce market

Indonesia presents much opportunity for e-commerce among other emerging Asian economies, with current projections putting this archipelago nation’s e-market at $130 billion by 2020 (coming third behind China and India). With an estimated annual growth rate of 50 percent and strong mobile-first initiatives, retailers have a unique opportunity in Indonesia to focus on developing truly mobile platforms to help facilitate e-market growth, particularly in the consumer packaged goods (CPGs) sector.

25 July 2016

Indonesia to Insist on Government-to-Government Arms Deals

In a push toward transparency and the reduction of corruption, Indonesia says its future major arms buys will be conducted under government-to-government arrangements. President Joko Widodo, better known as Jokowi, said the move toward government-to-government deals was intended to stop the use of brokers, who tend to mark up the prices of the weapons.

18 July 2016

EU looking into free trade with Indonesia

The European Union says it has reached a deal with Indonesia to start talks over establishing a free trade regime with the country.

14 July 2016

Indonesia investors anticipate tax amnesty windfall

The Indonesian tax amnesty law passed last month has bolstered financial markets amid high hopes that reduced rates will spur a massive influx of repatriated assets.

27 June 2016

US companies may invest in construction, minerals business: BKPM

Two American companies have expressed interest in investing in construction and minerals processing businesses following the implementation of online licensing, the Investment Coordinating Board (BKPM) has said. BKPM chairman Franky Sibarani said the companies had presented plans to establish representative offices in Indonesia through the board’s Indonesia Investment Promotion Center (IIPC) office in New York, and would start market research in Indonesia soon.

23 June 2016

House to pass tax amnesty bill on Tuesday: Luhut

After six months of deliberations, the House of Representatives is rushing to pass the much-awaited tax amnesty bill to help the government patch holes in its state budget and pave the way for an unprecedented repatriation of billions of dollars kept overseas by wealthy Indonesians. Coordinating Political, Legal and Security Affairs Minister Luhut B. Pandjaitan said he had communicated with several political party leaders and received assurance that the bill would be passed sooner than later.

23 June 2016

House, govt agree to discuss animal and plant quarantine bill

The House of Representatives and the government have agreed to start discussions over an animal, fish and plant quarantine bill in order to prevent the potential spread of diseases and pests. Both parties would soon establish a working unit to discuss the bill, which was initiated by the House.

21 June 2016

Indonesia sees no basis for territorial dispute with China: Minister

Coordinating Political, Security and Legal Affairs Minister Luhut Pandjaitan said there was no basis for Indonesia to engage in a territorial dispute with China as it had clear ocean territory boundaries formularized in its exclusive economic zone (EEZ).

18 June 2016

Indonesians’ love of beef put to test in price war

A CNN poll in 2011 concluded that meaty and spicy beef rendang was the world’s most delicious food. Will the popular Indonesian dish top the list again if restaurants begin using frozen instead of fresh beef? With beef prices remaining high over the past weeks, the Indonesian government is considering increasing the volume of frozen beef imports in an effort to tackle limited supply and cut the lengthy distribution chain of fresh beef in the domestic market.

17 June 2016

EU removes ban against Batik Air, Citilink, Lion Air

The European Commission removed bans against three Indonesian airlines on Thursday, allowing them to offer flights in European airspace, an ambassador has said. The commission, the regulatory arm of the EU, has updated its Air Safety List and decided to lift a ban on low-cost carriers Citilink and Lion Air as well as full-service carrier Batik Air, EU Ambassador to Indonesia and Brunei Darussalam Vincent Guerend said on Friday.

23 March 2016

Bank Indonesia Sees 2016 Economic Growth "Slightly Higher" Than 2015

Indonesia's central bank is expecting domestic economic growth to be "slightly higher" in 2016 compared to 4.8 percent last year, Bank Indonesia Governor Agus Martowardojo said on Wednesday (23/03).

23 March 2016

Indonesia Scraps Minimum Authorized Capital Requirement

The government has dropped a requirement of minimum authorized capital, long seen as hurdles for starting business in Indonesia and keep large portion of the economy in informal sector.

23 March 2016

Indonesia Seeks to Curb Use of Tax Havens by Companies

Indonesia hopes its plans for a tax amnesty will dissuade companies from channeling profits through overseas tax havens and shopping around for the most advantageous tax treaties, its finance minister said on Wednesday (23/03).

19 March 2016

Govt Green-Lights Jakarta-Bandung Fast Train Construction

Indonesia's Transportation Ministry has finally issued a construction permit for the first five kilometers of the Jakarta-Bandung fast train track, allowing the project to begin immediately, a senior official said on Friday (18/03).

18 March 2016

Indonesia waives visa requirements for 79 more countries

Jakarta, March 18 (IANS) Indonesia has waived visa requirements for 79 more countries, expanding the list to 169 visa-free nations as it continues its efforts to boost foreign visitor numbers.

18 March 2016

Big Indonesia Investment-Rules Changes to Take Effect Soon: Official

Major easing of foreign investment restrictions that Indonesia announced last month as a "big bang" liberalization should become effective by the end of March, a senior official said on Friday (18/03).

17 March 2016

BI Expects Q1 Growth at 5.1%, Better Than Q4 2015

The Indonesian economy will expand at a faster rate in the first quarter of 2016 compared to the previous quarter, on the back of higher government spending and more optimistic consumers, a senior executive at the central bank said in Jakarta on Thursday 17.03.16.

16 March 2016

Indonesia Logistics Costs Can Match Asian Peers in Two Decades: Roland Berger

Indonesia is on the right trajectory to reduce its logistics costs to 19 percent of its gross domestic products (GDP) by 2020, thanks to government efforts to modernize ports and open up the logistics sector to foreign investment, according to an assessment from global consulting firm Roland Berger.

10 March 2016

Indonesia Launches Warehouse-Sharing Scheme to Cut Logistics Costs

Indonesia launched on Thursday a warehouse-sharing scheme aimed at improving competitiveness by reducing the cost of moving goods around the sprawling archipelago.

7 March 2016

Indonesian Motorcycle Industry Expects Sales to Inch Up This Year

The Indonesian Motorcycle Industry Association, or AISI, expects sales of two-wheelers in the archipelago to increase slightly this year on the back of a better economic outlook, the association's president said over the weekend.

3 March 2016

Indonesia Continues CEPA Talks With European Union

Indonesia is continuing protracted talks on a free-trade agreement with the European Union, hoping to reach an agreement on the matter before President Joko Widodo's official visit to Europe in April, a minister said.

25 February 2016

Indonesia Cbank Says Current Rupiah Rate Competitive, Sees It Strengthening

Indonesia's central bank said the current exchange rate of rupiah is competitive for exports and that it is likely to strengthen on capital inflows, a senior official said.

25 February 2016

French's Wiko Mobile Ready to Manufacture 4G LTE Smartphones in Indonesia

Wiko Mobile, a French smartphone manufacturing company, is ready to manufacture its 4G LTE smartphones in Indonesia starting in April this year, the chief executive of its Indonesian affiliate said on Wednesday, 24.02.2016.

23 February 2016

Indonesia's Bank Mandiri 2015 Profit Rises 2%, Beats Estimates

Indonesia's biggest bank by assets, Bank Mandiri, reported a better-than-expected net profit for 2015 on Tuesday, but its bad loans crept up partly due to its exposure to the commodities sector.

22 February 2016

Finance Ministry Pushes Back 2016 Budget Revisions to Assume New Oil Price

The government has decided to postpone a revision of the 2016 state budget from March to May, taking more time to assess the impact of falling global oil prices to the state's balance sheet. Indonesia expects its oil price, known as Indonesia Oil Price, to be at an average of $50 per barrel in calculating the state budget this year. The price in January was at $27.5 a barrel, down from $35.5 per barrel in December.

19 February 2016

Indonesia to Sell More Retail Bonds to Expand Local Investor Base

Indonesia will sell more sovereign bonds to local individual investors this year, an official at the finance ministry said, as it tries to lower its dependence on foreign funds and deepen the local financial market.

18 February 2016

Indonesia Central Bank Sees 2016 GDP Growth at 5.4%

Bank Indonesia Deputy Governor Perry Warjiyo said the country's economic growth may reach 5.4 percent this year, accelerating from 4.8 percent last year, after the central bank cut its main interest rate 50 basis points in the first two months of 2016.

18 February 2016

Indonesia's President Pledges More Steps to Open Economy

Indonesian President Joko Widodo on Wednesday pledged further steps to open Southeast Asia's largest economy to foreign investment after announcing the most significant liberalization in a decade last week.

17 February 2016

Indonesia's F&B Sector Attracts US Investors: BKPM

Jakarta. Indonesia's investment campaign during the Asean-US Summit may yet prove successful as potential investors from the United States have expressed interest and willingness to invest in the country’s food and beverage industry, the Investment Coordinating Board (BKPM) said on Wednesday 17.02.

12 February 2016

ADB Announces $10b Funding for Indonesia Over the Next Five Years

Jakarta. The Asian Development Bank will boost lending to Indonesia to help support the government's development priorities, the Manila-based lender said in a statement on Friday 12.02.

11 February 2016

Indonesia Completes Its First E-Commerce Guideline

Jakarta. The Indonesian government has completed a road map for its e-commerce industry that would guide future regulations on the trade of online goods and services, as well as data and fund transfers done over the Internet, according to a state official.

13 January 2016

Indonesia allows foreigners to own landed houses

The government now allows foreigners living in Indonesia to own houses as part of efforts to boost the economy, following the release of a regulation signed by President Joko "Jokowi" Widodo.