Friday, July 19, 2019
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Fauzul Muna

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Before joining The Insider Stories as an editor, Muna was a journalist for macroeconomics and energy at Bisnis Indonesia. She received a Master of Science in International Development from The University of Manchester and bachelor degree in Social Development and Welfare from Universitas Gadjah Mada.
Indonesia's Pertamina Finds 3 New Oil and Gas Reserves in 1Q of 2019

Indonesia to Stop Import Oil to Stabilise Rupiah

JAKARTA (TheInsiderStories)--Indonesian President Joko Widodo instructed PT Pertamina to buy all domestic oil production at market prices in order to maintain current account deficit (CAD) and stabilise rupiah against US dollar. Indonesia produces around 740,000 to...

Bank Indonesia Raise Interest Rate to 5.5%

JAKARTA (TheInsiderStories)--Bank Indonesia raised its benchmark seven-day reverse repo rate by 25 basis points to 5.5 percent amid global and domestic economic pressure, said BI's governor Perry Warjiyo said on Wednesday (15/8). The Indonesian Central Bank...

Indonesia Posts Worst Trade Deficit in Five Years at $2B in July 2018

JAKARTA (TheInsiderStories)--Indonesia recorded a widening trade deficit to US$2.03 billion in July 2018, the worst since July 2013, due to soaring consumer goods imports, Central Statistics Agency reported on Wednesday (15/8). It worsened than trade...

Indonesia to Stop Importing Over than 500 Items to Stabilise Rupiah

JAKARTA (TheInsiderStories)--Indonesian government will stop importing 500 items for six months in order to stabilise Rupiah against US dollar. Government also considered to give an incentive for exporters to bring their revenues to the...

Indonesian Government to Evaluate Export Proceeds Tax

JAKARTA (TheInsiderStories)--Indonesian government will evaluate income tax for export proceeds as an attempt to stabilize rupiah exchange rate against US dollar, said Minister of Finance Sri Mulyani on Tuesday (14/8). Mulyani instructed Director General of Taxation and Fiscal...

Indonesia’s Andira Agro Eyes $6.8M from IPO

JAKARTA (TheInsiderStories)--Indonesian palm oil company PT Andira Agro Tbk eyes Rp100 billion (US$6.83 million) from initial public offering (IPO) in August 2018. Andira Agro will offer 500 million shares and set a price at Rp200...

Indonesia Records Weak Investment of $12B in Q2/2018

JAKARTA (TheInsiderStories)—Indonesia recorded weak investment realization of Rp176.3 trillion (US$12.055 billion) in the second quarter of this year, Investment Coordinating Board reported on Tuesday (14/08). It decelerated 4.9 percent from Rp185.3 trillion (US$12.67 billion) in...

JCI Worst Performer in Asia

JAKARTA (TheInsiderStories)--The Jakarta Composite Index (JCI) fell the most among Asia Pacific markets today (13/8) driven by Turkey crisis and widening current account deficit (CAD). On Monday (13/08), JCI closed down 3.29 percent or 200.13...

Indonesian Rupiah Hits Lowest Since 2015 due to Turkey Crisis

JAKARTA (TheInsiderStories)--Rupiah hit the lowest level since 2015 as fears over the looming economic crisis in Turkey spreads to other emerging economies. Rupiah weakened 0.97 percent at Rp14.610 per US$1 at 12.02 WIB, the lowest...

Indonesia’s KoinWorks Raises $22.5M in Series A Financing

JAKARTA (TheInsiderStories)--Indonesia's Peer to Peer (P2P) Fintech Lending KoinWorks announced its Series A funding round of US$22.5 million led by Mandiri Capital Indonesia. CO-Founder & Chairman of KoinWorks Willy Arifin said on Monday (13/8) in a...

Nasution: Investment to Grow 7% as Presidential Candidates Revealed

JAKARTA (TheInsiderStories)--Indonesia's investment will grow above 7 percent growth in the second semester of this year as the presidential candidates nominations cleared uncertainties for investors, said Coordinating Minister for Economic Affairs Darmin Nasution on Friday...

Indonesia’s Investment Board Offers $13.1B Infrastructure Projects to China

JAKARTA (TheInsiderStories)--Indonesia's Investment Coordinating Board offered US$13.1 billion with a public-private partnership scheme to China. Investment Coordinating Board's Deputy for Investment Planning Tamba P. Hutapea said on Friday (10/9) in a press release that the offered...

Rupiah Depreciation Hits Indonesia’s Food & Beverages Industries

JAKARTA (TheInsiderStories)--Food and beverage industry sees its production cost rising by 3-5 percent due to rupiah depreciation against US dollar, said Chairman of Indonesian Food and Beverage Association Adhi S. Lukman on Thursday (9/8). Adhi said that...

Pertamina Officially Takes Over Sanga-Sanga Oil & Gas Block

JAKARTA (TheInsiderStories)--Indonesia's state-owned oil and gas company PT Pertamina (Persero) officially taken over Sanga-Sanga oil and gas block from Vico Indonesia and will integrate its operation with Mahakam block. Pertamina's Senior Vice President Upstream Strategic Planning,...

U.S Seeks $350M in Trade Sanction Against Indonesia

JAKARTA (TheInsiderStories)--The United States (U.S) has urged World Trade Organization (WTO) to impose an annual sanction on Indonesia over trade disputes that cost US industries of US$350 billion in 2017. The U.S considers Indonesia is...

IHS Markit: Improved Trade Balance Lifts Japan’s Current-Account Surplus in June

JAKARTA (TheInsiderStories)--Improved trade balance lifted Japan's current-account surplus in June 2018, IHS Markit reported in a press release on Wednesday (8/8). Japan's current account surplus rose 27.1% year on year (year on year/yoy) to JPY1.7...

Moody’s Upgrades Indonesian Banking System to Stable

JAKARTA (TheInsiderStories)--Moody's Investors Service has changed its outlook for the Indonesian banking system to stable from positive following the rating upgrade of the sovereign and many rated banks during April-June 2018. Moody's Vice President and...
Car Manufacture

Indonesia’s Manufacturing Sector Grows Below Target in First Half

JAKARTA (TheInsiderStories)--Indonesia's manufacturing sector in the first semester this year grew below 2018 target, making it harder to reach Making Indonesia 4.0 target of 25 percent contribution to the gross domestic product (GDP) by...

Political Cycle and Rupiah Depreciation Blamed for Low Investment in Q2

JAKARTA (TheInsiderStories)--Low investment in the second quarter of this year was caused by political cycle and rupiah depreciation against US dollar, Head of The Investment Coordinating Board Thomas Lembong said on Tuesday (7/8). Indonesia recorded...

Two Indonesia’s Companies Go IPO, MD Pictures Listed

JAKARTA (TheInsiderStories)--Indonesia's ethanol producer PT Madusari Murni Indah and digital media company PT Arkadia Digital Media Tbk eye Rp357 billion (US$25 million) from initial public offering (IPO) in the third quarter of 2018. So far...

Indonesia’s Warung Pintar Raises $4M Funding Round

JAKARTA (TheInsiderStories)--Retail technology startup company Warung Pintar raised US$4 million funding round from Vertex Ventures, Pavilion Capital, and LINE Ventures, the company announced in a press release on Tuesday (7/8). Since its initial funding 6...

Lombok Earthquake Kills 91 People, Injures 209 People

JAKARTA (TheInsiderStories)--A 7.0 magnitude earthquake in Lombok on Sunday Night (5/8) killed 91 people and injured 209 people, Indonesian disaster agency reported on Monday (6/8). The National Disaster Mitigation Agency's spokesperson Sutopo Purwo Nugroho said...

Indonesia’s Pertamina Eyes Corridor Gas Block

JAKARTA (TheInsiderStories)--After winning the rights to expiring contract of Rokan block, Indonesia's state-owned oil and gas company PT Pertamina (Persero) is now eyeing Corridor Block in South Sumatra after its contract expires in 2023. The...

Indonesia’s GDP Expands 5.27% in Second Quarter

JAKARTA (TheInsiderStories)--Indonesia's gross domestic product (GDP) expanded 5.27 percent in the second quarter of this year (year on year/yoy) or the highest since 2013, supported by growth in household consumption, investment, and exports. It was...

Indonesia’s Telkom to Issue $103M Medium-Term Notes

JAKARTA (TheInsiderStories)--Indonesia's largest telecommunication and network provider PT Telekomunikasi Indonesia Tbk (IDX: TLKM) plans to issue conventional and sharia medium-term notes (MTN) worth of Rp1.5 trillion (US$103.471 million). The notes will be issued in 1-year tenor,...

Indonesian Govt. Spends $39M on IMF-World Bank Meeting Preparation

JAKARTA (TheInsiderStories)--Indonesian government spent Rp566 billion (US$39.01 million) on the preparation of International Monetary Fund (IMF)-World Bank (WB) meeting that will be held on October 12-14, 2018 in Bali. Coordinating Minister for Maritime Affairs Luhut...

Indonesia’s Medco First Half Net Profit Falls 48%

JAKARTA (TheInsiderStories)--PT Medco Energi International Tbk (IDX: MEDC)'s net profit for the first half this year fell 48.6 percent to US$41.4 million (year on year/yoy) due to a loss in PT Amman Nusa Tenggara...

Kalla: Indonesia Needs Strict FX Policy to Stabilize Rupiah

JAKARTA (TheInsiderStories)-- Indonesia may need stricter foreign exchange (FX) regime in order to help stabilize the Rupiah, Vice President Jusuf Kalla said on Thursday (02/08), citing the little amount of foreign currency earnings from exports repatriated...

Indonesian Govt. to Issue Regulation on Rooftop Solar Panels

JAKARTA (TheInsiderStories)--The Indonesian government will immediately issue a regulation regarding rooftop solar panels to allow consumers selling excess electricity to PT Perusahaan Listrik Negara (Persero), a state official said on Wednesday (1/08). Energy and Mineral...

BTPN, Bank Sumitomo to Officially Merger in January 2019

JAKARTA (TheInsiderStories)--PT Bank Tabungan Pensiunan Nasional (IDX: BTPN) and PT Bank Sumitomo Mitsui Indonesia (SMBCI) officially started a merger process and targets its completion by January 2019. BTPN and SMBCI's Commissioners approved the merger plan on...