Macro
Chinese firm wins tender for monorail trains - The Jakarta Post | Sector data
(The Insider Stories) – The Jakarta Monorail (JM) consortium developing one of two new rail-based transport systems in Jakarta has tapped a Chinese firm to supply trains to the project, which it plans to resume this year after work was halted several years ago due to a lack of financing, The Jakarta Post reports. The Full Article
IMF cuts its forecast for global economy in 2013 - Associated Press | Sector data
(The Insider Stories) — The International Monetary Fund has lowered its outlook for the world economy this year, predicting that government spending cuts will slow U.S. growth and keep the euro currency alliance in recession, The Associated Press reports. The full text of the World Bank’s World Economic Report is available here The global lending Full Article
APEC pursuing long-term plan for infrastructure investment | Outlook data
(The Insider Stories) — The Asia Pacific Economic Cooperation Infrastructure is seeking to develop a multi-year plan to meet infrastructure needs in the region, in order to increase capacity to support supply chains that businesses depend on and which are crucial to the success of the export-oriented growth strategies of many APEC members, APEC says in Full Article
New vehicle sales jump by 15% in March | Sector data
(The Insider Stories) — New vehicle sales in Indonesia extended their recent surge in March despite tighter lending, as domestic consumption strongly rises, wire services report. Volumes gained more 15% to 99,957 units from 86,817 units a year earlier, according to auto industry association Gaikindo. The rise is despite tighter credit rules including minimum loan Full Article
World Bank lowers 2013 growth forecast for Indonesia, China | Wires
(The Insider Stories) — The World Bank has cut this year’s growth forecasts for Indonesia and China by 0.1 percentage point to 6.2% and 8.3%, respectively, amid ongoing economic restructuring and moderating investment. “Our growth forecasts for EAP (East Asia and the Pacific) for 2013 and 2014 remain roughly similar to those of December last year. We Full Article
Lion Air passenger jet crashes into sea off Bali | Company data
(The Insider Stories) — A Boeing aircraft operated by Indonesia’s largest airline crashed into shallow water just off the runway of the main airport on the resort island of Bali Saturday afternoon, with all 101 passengers and seven crew members surviving the incident, which raises concerns in a country that has seen improvements in the Full Article
Bank Indonesia keeps rates steady; trims growth forecast | Outlook data
(Insider Stories)-Bank Indonesia trimmed its growth forecast for 2013 and forecast inflation to ease slightly following measures to ease food supply disruptions and once harvest season arrives, while keeping its benchmark rate unchanged. BI kept its benchmark rate unchanged at 5.75%, in line with market expectations and marking the 13th straight meeting it has kept Full Article
Indonesia indicates fuel price hike not on agenda at energy subsidy meeting this weekend | Insider news
(The Insider Stories) — Indonesia will announce a fuel subsidy adjustment this weekend at a coordinating meeting led by the President but indications are that a fuel price hike isn’t on the agenda. “In the meeting with the president we will explore more deeply our options,” Finance Minister Agus Martowardojo said after a meeting with Full Article
EU grants $19.52 mln to help Indonesian exporters | Sector data
(The Insider Stories) — The European Union (EU) is providing up to 15 million euros in a grant to finance the Trade Support Program II (TSP II) that aims to help Indonesian exporters penetrate the EU market. Under TSP II Indonesian companies are taught how to meet international trade standards set by EU nations. Coordinated Full Article
Companies relocate outside Jakarta CBD as office rates jump 100% in 3 years | Sector data
(The Insider Stories) -Sharp increases in office rental rates are pushing companies outside the Jakarta CBD, as demand increases despite land scarcity and limited supply. Areas such as TB Simatupang, S. Parman and MT Haryono, in West and South Jakarta, are attractive as they offer lower rates and direct road access to the CBD, Colliers Full Article
Japanese investor interest strengthens; Indonesian companies offering more services | Sector data
(The Insider Stories) – While Japanese companies have been a mainstay of foreign investment in Indonesia for decades, interest in manufacturing, consumer goods and other sectors is increasing alongside traditional natural resources investment even as Indonesian entrepreneurs are seeking to offer more services to attract Japanese capital. Japanese investors are seeking to maintain their market Full Article
October-February global coffee exports rose 9.6% as Vietnam, Indonesia shipped more | Wires
(The Insider Stories) — A significant rise in shipments from Indonesia and Vietname pushed global coffee exports 9.6% higher to 46.5 million bags in the first five months of the current coffee year, according to the International Coffee Organisation (ICO). According to media reports, exports from India were down marginally in the October-February period. Worldwide Full Article
Singapore says has offered to update tax agreements with Malaysia, Indonesia | Sector data
(The Insider Stories) — Singapore says it has offered to Malaysia and Indonesia to update their tax agreements with the internationally agreed standard for exchange of information for tax purposes, the Monetary Authority of Singapore (MAS) says in a statement. “The Standard provides for the exchange of bank information. Once our tax agreements with Malaysia Full Article
Indonesia sells $3 billion dollar bonds at record-low yields | Sector data
(The Insider Stories) — Indonesia has sold a two-tranche $3 billion dollar bond at record low yields, with demand of around US$12 billion reflecting global investor confidence in the country’s medium- and long-term debt. Finance minister Agus Martowardojo said Indonesia priced a $1.5 billion 10-year offering at 98.953 to yield 176.3 basis points over comparable Full Article
German e-commerce firm seeks to add warehouse space | Company data
(The Insider Stories) — German e-commerce company Lazada is seeking to add to its warehouse space by 5,000 square meters to meet increasing demand from Indonesian customers. Lazada Indonesia was launched in March 2012 and has since contributed to 30% of the firm’s Southeast Asia’s revenue. It currently has 2,500 square meters of storage space Full Article
