Friday, July 19, 2019
JAKARTA (TheInsiderStories) - Bank Indonesia lowered its 7 days reverse repo rate (BI-7DRR) by 25 bps to 5.75 percent during its July meeting after maintained at 6 percent in June. This is the first interest rate cut since September 2017, in an attempt to support growth amid low inflation...
JAKARTA (TheInsiderStories) - Japan trade surplus shrinking to JPY590 billion (US$5.5 billion) in June 2019, from a year ago surplus of JPY728 billion caused of weak global demand and United States - China trade war, the ministry of finance reported on Thursday (07/18). The data showed, exports declined for seven consecutive...
JAKARTA (TheInsiderStories) - The Asian Infrastructure Investment Bank (AIIB) offers an alternative financing on local currency for Indonesia, Thailand, Turkey, India and Russia, to avoid the volatile foreign exchange market, it said on Wednesday (07/17). It said, the launch of local currency financing will begin this month. AIIB' President Jin...
JAKARTA (TheInsiderStories) - Developing Asia will maintain strong but moderating growth over 2019 and 2020, as supportive domestic demand counteracts an environment of global trade tensions, Asian Development Bank (ADB) reported today (07/18). The Fund maintains growth forecasts for developing Asia at 5.7 percent in 2019 and 5.6 percent in 2020—unchanged from...
JAKARTA (TheInsiderStories) - Financial markets gave a thumbs-up to the announced trade truce between China and the United States (US), says IHS Markit' Chief Economist Nariman Behravesh and Sara Johnson, Executive Director for Global Economics said in their latest report. Its impact on growth is likely to be imperceptible. On the plus side,...
JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo has signed Government Regulation Number 50 Year 2019 concerning Import and Delivery of Certain Transport Equipment and the Submission and Utilization of Taxable Services for Certain Transport Equipment that are Not Collected by Value-Added Tax (VAT). Widodo sign the decree on July 4 and...
JAKARTA (TheInsiderStories) - Taiwanese Apple supplier, Compal Electronics look Indonesia become its new investment destination. Currently, the manufacturer of sophisticated electronic products such as iPad, iPhone, and Apple Watch is looking for a new location the Southeast Asian (ASEAN) region for production. "Compal are looking a new locations in ASEAN. They will...
Car Manufacture
JAKARTA (TheInsiderStories) - An Indonesian Car Manufacturer Association (Gaikindo) sees this year' national car sales will not be achieved cause low demand, tight competition, and influx of new players and variants from abroad, such as Wuling, Mitsubishi Xpander, and Nissan. Earlier, the organization predicted the car producers could sell 1.1...
JAKARTA (TheInsiderStories) - United Arab Emirates' (UAE) investment firm Mubadala Petroleum has signed an agreement with British energy producer Premier Oil to farm out a 20 percent participating interest in Andaman and South Andaman concessions located at Aceh Province, said the company today (07/17). Mubadala is the operator of both...
JAKARTA (TheInsiderStories) - Indonesia and Singapore to conclude their bilateral cooperation in the Leaders Retreat by the end of this year, said foreign minister after attended a bilateral meeting between President Joko Widodo and Singapore' Foreign Minister Vivian Balakhrisnan at the Bogor Palace today (07/17). The retreat is an annual meeting between the...
JAKARTA (TheInsiderStories) - Indonesia needs greater funding to reach climate change targets in the future. As a nationally determined contribution (NDC) target, Indonesia needs US$247 billion for the transition. But at the global level, with an average funding calculation that refers to the NDC, Indonesia needs an investment of...
JAKARTA (TheInsiderStories) - Amid the widening deficit in the first half (1H) of 2019, Indonesia' government remain optimistic and predicted economic growth in the second half (2H) to be at 5.2 percent, higher than the 1H realization of 5.1 percent. But, the figure is lower than the 2019 State...
JAKARTA (TheInsiderStories) - Two woman to become a future leader of European Union (EU) and the European Central Bank (ECB). Ursula von der Leyen, a 60-year-old German native, has been elected as the EU’ first female president while former International Monetary Fund (IMF) Managing Director Christine Lagarde as the next president of...
JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo handed over the Plan of Development (PoD) of Masela Block Oil and Gas Project in Tanimbar Islands, Maluku Province to Japan' Inpex Corporation and British' Shell at Merdeka Palace, Jakarta, on Tuesday (07/16). INPEX delegation led by its CEO Takayuki Ueda was accompanied by Minister...
JAKARTA (TheInsiderStories) - Indonesia' finance ministry Sry Mulyani Indrawati on Tuesday (07/16) reported a deficit of the state budget in the first half (1H) of 2019 reached Rp135.8 trillion (US$9.7 million). The deficit is equivalent to 0.84 percent of gross domestic product (GDP). The realization of the budget deficit...
Jakarta (TheInsiderStories) - Drought occurred seven provinces in Indonesia, with details 79 regencies comprising of 1,969 villages in 556 districts. Potential loss due to the drought recorded Rp3 trillion (US$214.29 million), National Disaster Management Agency' spokesman Agus Wibowo told TheInsiderStories on Tuesday (07/16). He revealed, highest drought potential occurred in West...
JAKARTA (TheInsiderStories) - Indonesia' Coordinating Minister for Maritime Affairs (CMMA) Luhut Binsar Pandjaitan believed that the implementation of the 30 percent biodiesel mixture (B30) program could help to reduce fuel imports of US$3 billion. This program is expected to be implemented early next year. Every year, the fuel consumption in...
JAKARTA (TheInsiderStories) - Indonesian government evaluated the 16 economic policy packages has launched during the five years term of President Joko Widodo and Jusuf Kalla' administration, said the senior official late Monday (07/15). As a result, in terms of investment, the issue of licensing still hampers the entry of investment...
JAKARTA (TheInsiderStories) - Indonesia National Air Carriers Association (INACA) have protested to Ombudsman regarding the Transportation Minister decree Number 106 Year 2019 concerning upper limit tariff for economy class or the domestic passenger. The organization assessed that government' request to reduce upper limit tariff was 12 percent -16 percent is...
JAKARTA (TheInsiderStories) - Cement sales of state-owned company, PT Semen Indonesia Tbk (IDX: SMGR) corrected by 4.86 percent  throughout the first half (1H) of 2019 compared to the previous year, it said on Monday (07/15). Based on the company data, until June total cement sales recorded 12.74 million tons from the...
JAKARTA (TheInsiderStories) -  Indonesia’ state-owned power producer, PT Perusahaan Listrik Negara (PLN) announced that it had issued global bonds worth US$1.4 billion on July 10. The funds use to construct of additional generating, transmission and distribution capacity in the 35 thousand Megawatt (MW) program to be completed by 2024. Last...
JAKARTA (TheInsiderStories) - Indonesia' industrial and logistics sector grow rapidly in Southeast Asia, driven by strong domestic trends including the e-commerce sector penetration, growth in intra-regional trade and increased logistics efficiency, as the Southeast Lang Jones LaSalle (JLL) reported on Monday (07/15). The study emphasizes that Indonesia' rapidly expanding e-commerce...
Singapore (TheInsiderStories) - Moody's Investors Service has downgraded the corporate family rating of PT Agung Podomoro Land Tbk (IDX: APLN) to B2 from B1. At the same time, the rater has downgraded the backed senior unsecured rating of the 2024 notes issued by APL Realty Holdings Pte. Ltd., a wholly owned subsidiary...
JAKARTA (TheInsiderStories) - Indonesia' Disaster Management Agency reported two people died and 2,000 displaced due to a 7.2 magnitude earthquake in 62 kilometers (km) northeast of Labuha, South Halmahera, North Maluku on Sunday, July 14. The agency' spokesman, Agus Wibowo, told the Media today (07/15)m that the earthquake had no tsunami...
JAKARTA (TheInsideStories) - Palm oil exports have begun to erode over the foreign policies on some of Indonesia' main export destinations, especially to India, China, Bangladesh, and European Union, said an Indonesian palm oil association (GAPKI). The organization recorded in April 2019, Indonesia' Crude Palm Oil (CPO) and derivatives, oleochemical...
JAKARTA (TheInsiderStories) - Indonesia and Turkey agreed to finalize the Indonesia-Turkey Comprehensive Economic Partnership Agreement (IT-CEPA) negotiations this year, which is expected to overcome obstacles and encourage increased trade performance of the two countries. The total trade between the two countries in 2018 was recorded at US$ 1.79 billion, rose...
JAKARTA (TheInsiderStories) - Indonesia' government has approved the latest revision of plan of development (PoD) of Masela block in the Arafura Sea North Maluku to bring the gas-rich block development entered the final investment decision (FID) stage, the energy and mineral resources ministry announced on Friday (07/12). The revision was approved...
JAKARTA (TheInsiderStories) - PT Uni-Charm Indonesia, the local arm of Japan-based diaper and feminine-care firm Unicharm Corp., planned to hold an initial public offering (IPO) in this year. The potential funding that can be obtained around Rp1 trillion (US$70.92 million), said the management last week. Director of PT Sinarmas Sekuritas...
JAKARTA (TheInsiderStories) - China's trade surplus widened to US$50.98 billion in June 2019, up 24.6 percent from the same month last year of $40.91 billion. This is the biggest trade surplus since December last year, the Customs Department announced on Monday (07/15). However, China's export performance declined slightly in all...
JAKARTA (TheInsiderStories) - Indonesia' trade surplus narrowed to US$200 million in June 2019 from a $1.71 billion in the same month a year earlier, as exports fell 8.98 percent in annual basis (YoY). While imports rose 2.80 percent, the first annual increased inbound shipments in six months, Statistics Indonesia...

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