Friday, August 23, 2019
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Lexy Nantu

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Japan’s Hashimoto, Sula Energy to Invest US$275M in Palu

JAKARTA (TheInsiderStories) - Japan' manufacturer Hashimoto Corp. and local firm PT Sula Kor Energi (SKE) will invest a total of Rp3.9 trillion (US$274.64 million) in the Special Economic Zone Palu, Central Sulawesi, said an...

Indonesia’s Pertamina Controls 95.90% Tuban Petro Shares

JAKARTA (TheInsiderStories) - Indonesian government through state-owned energy producer, PT Pertamina has controls 95.9 percent - from 70 percent earlier - of PT Tuban Petrochemical Industries (Tuban Industries) in Tuban, East Java, said the...

Indonesian Govt Targets to Submit Land Bill Draft to Parliament in September

JAKARTA (TheInsiderStories) - The Indonesian government is targeting to finalize the land bill draft in late September this year to be subsequently submitted to parliament, officials said today (08/22). The bill will become a...

US’s Central Bank Sees July Cut as Mid-Cycle Adjustment

JAKARTA (TheInsiderStories) - Federal Reserves (Fed) policymakers split over the The United States (US) interest rate policy, showed at the minutes note in their meeting on July 30 - 31. The board of governors viewed...

East Ventures Closes US$75M Sixth Fund to Focus on Indonesian Startups

JAKARTA (TheInsiderStories) - Southeast Asian venture capital firm East Ventures has closed its sixth fund at US$75 million, with support by prominent startup founders helping to surpass the fund's initial $30 million targets, the...

Breaking News: Indonesia’s Chief Security to Visit Papua Tonight as Riots Continues

JAKARTA (TheInsiderStories) - The Coordinating Minister for Political, Legal and Security Affairs Wiranto will visit Papua and West Papua tonight when the condition of Indonesia's easternmost region has not been conducive following rioting that...

Global Economy: Heightened Danger, Increased Policy Stimulus

JAKARTA (TheInsiderStories) - The past month has brought its fair share of good and bad news. The United States (US) Federal Reserve cut interest rates as expected. The US also enacted an additional fiscal...

Indonesia Stops New Exploration Permit at Primary Forests and Peatlands

JAKARTA (TheInsiderStories) - Indonesian government decided to stopped new licenses for exploration in primary natural forests and peatlands to save the existence of the zones and an efforts to reduce emissions from deforestation and degradation, its...

WhatsApp Looks to Launch Mobile Payments in Indonesia

JAKARTA (TheInsiderStories) - WhatsApp, United States' Facebook Inc’s messaging service, reportedly in talks with multiple Indonesian digital payment firms to offer their mobile transaction services, Reuters has reported today (08/20), in a bid to...

Indonesia Eximbank, African BDEAC Signs US$50M Framework Agreement

JAKARTA (TheInsiderStories) - Indonesian Eximbank signed an uncommitted framework agreement on a Bank Line Facility worth US$50 million with the Development Bank of the Central African States (BDEAC), the agency announced today (8/20). The...

Asia’s Sluggish Exports Widens Japan’s Trade Deficits in July

JAKARTA (TheInsiderStories) - Japan’s trade deficit widened by 9.8 percent year on year (YoY) to JPY249.6 billion (US$2.3 billion) in July on a non-seasonally adjusted basis. The trade deficit also expanded by 273.9 percent...

Indonesian Govt Tightens Coal Import Duty Rule

JAKARTA (TheInsiderStories) - Indonesian government has tightened the fiscal facilities in the form of exemption from import duties and value-added tax (VAT) on imported goods in the context of a work contract and a...

Indonesia Eyes 73.6M Foreign Tourists in 2045

JAKARTA (TheInsiderStories) - The government is targeting Indonesia as a leading Asian and World tourism destination by 2045 with a total of 73.6 million foreign tourist visits, from the 18 million people set for...

Breaking News: Indonesian Apparatus on Alert as Conflict in West Papua Rises

JAKARTA (TheInsiderStories) - The Indonesian police and military personnel are on alert following the increasing tension in Manokwari, West Papua. The negotiation process is hampered considering the mass remains violent. When the officials met...

Indonesian Govt Injects US$1.24B for Eight SOEs in 2020

JAKARTA (TheInsiderStories) - The government will provide additional capital of Rp17.7 trillion (US$1.24 billion) for eight state-owned enterprises (SOEs) in 2020. That figure is down by Rp10 billion compared to 2019 of Rp17.8 trillion....

Widodo Announces 2020′ Macro Assumptions with Growth at 5.3%

JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo has announced the country direction in 2020 at the People’s Consultative Assembly and House of Representatives today (8/16). The president said economic growth will be at 5.3...

Widodo Wants Indonesia Become the 2nd Largest EV Producer in ASEAN

JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo wants to become the second largest electric vehicle (EV) production center in Southeast Asia (ASEAN) to enter the global trends. He also wants the country have an electric...

China Pledges Countermeasures in Response to US Tariff Hikes

JAKARTA (TheInsiderStories) - China announced that it would be forced to take necessary countermeasures if United States (US) moves forward with tariffs set to take effect Sept. 1, continuing the back-and-forth escalation of the...

Indonesia Readies to Develop Two SEZs Worth US$838M Next Year

JAKARTA (TheInsiderStories) - Indonesia' government is ready to develop two special economic zones (SEZs) worth Rp11.9 trillion (US$838 million) which is projected to start early next year, said officials today (08/15). These two SEZs...
Indonesia’s Economic Shrank at 0.52% in 1Q 2019

Indonesia’s Trade Deficit Falls to US$63.5M in July

JAKARTA (TheInsiderStories) - Indonesia’s trade deficit narrowed sharply to US$63.5 million in July 2019 from a $2 billion in the same month a year earlier. Exports fell 5.12 percent year-on-year (YoY) to $15.45 billion...

Indonesia’s PLN Needs US$1B to Complete Eight Geothermal Projects

JAKARTA (TheInsiderStories) - State-owned power producer, PT Perusahaan Listrik Negara (PLN) needs an investment around US$1 billion to complete eight geothermal projects during 2023 - 2024, said an official on Wednesday (08/14). Indonesian government noted...

Indonesia Creates Aviation Industry Ecosystem in Batam

JAKARTA (TheInsiderStories) - Indonesia is committed to creating an aviation industry ecosystem to become the top 10 global aviation markets by 2020 and the world' top five by 2034, said a senior official today...

Indonesia Need US$15B to Meet Geothermal Target

JAKARTA (TheInsiderStories) - Indonesia needs US$15 billion in investment to meet its target of reaching 7.200 megawatts (MW) of geothermal power capacity by 2025, an energy ministry official said on Tuesday (08/13). The capacity...

EU Investigates Steel from Indonesia, China, Taiwan

JAKARTA (TheInsiderStories) - The European Commission announced the opening of an investigation into imports of hot-rolled steel from Indonesia, China, and Taiwan to the European Union (EU) following a complaint from the industry for...

EU Imposes up to 18% Duties on Indonesian Biodiesel

JAKARTA (TheInsiderStories) - The European Commission (EC) has imposed temporary duties ranging from 8 to 18 percent on imports of subsidized biodiesel from Indonesia, the commission announced on Tuesday (08/13). The new tariff will be...

Indonesia’s Pertamina Crude Oil Imports Fall 35% in 1H

JAKARTA (TheInsiderStories) - Indonesia’ state oil and gas firm PT Pertamina said its crude oil imports in the first half (1H) this year fell 35 percent to 220,000 barrel per day (bpd), compared to...

Ribbeck Law Chartered Sues Boeing for US$1B Compensation

JAKARTA (TheInsiderStories) - Ribbeck Law Chartered, which represents the majority of families of the victims of the deadly Boeing 737 MAX 8 crashes, and Global Aviation Law Group, today (08/13) filed additional lawsuits against...

Hong Kong Airport Cancels Flights as Protests Continue

JAKARTA (TheInsiderStories) - All flights in and out of China's Hong Kong Special Administrative Region were canceled on Monday (08/12) after thousands of protesters flooded the city's international airport to denounce police violence, according...

Trump Indicates to Cancel Next Round of China Talks

JAKARTA (TheInsiderStories) - President Donald Trump said last weekend that the next round of trade negotiations between the United States (US) and China may not happen, casting doubt on hopes that the two sides...

Jakarta-Surabaya Medium-Speed Train Will Operates by 2022

JAKARTA (TheInsiderStories) - The government estimates the Jakarta-Surabaya medium-speed train will start operating at the end of 2022. It's expected to sign later this year a memorandum of understanding with the Japan International Cooperation...