JAKARTA (TheInsiderStories) – Good morning. We provide several pieces of important news that might help your business decisions today:
Indonesia Parliament approves 2018 state budget
Indonesia’s House of Representatives approved the central government’s 2018 state budget (APBN 2018) in a plenary session on Wednesday (25/10). The government is aiming for Rp2,220.7 trillion Rupiah (US$163.67 billion) in spending next year and expects revenue of Rp1,894.7 trillion, based on an assumption of 5.4-percent GDP growth. The 2018 deficit target is at 2.19 percent of GDP versus the expected 2.92 percent in the revised 2017 budget.
U.S New Home Sales Rise in September
Sales of new U.S. single-family homes unexpectedly rose in September, hitting their highest level in nearly 10 years. The Commerce Department said new home sales surged 18.9 percent to a seasonally-adjusted annual rate of 667,000 units last month. That was the highest level since October 2007, and followed August’s upwardly-revised sales pace of 561,000 units.
Pindad to Raise Rp1Trillion From Three-years Bond
State owned arms manufacturer PT Pindad planned to raise 1 trln Rupiah from the sale of three-year bond with a 9.2 percent coupon affixed. The proceeds will go to finance business expansion, capital expenditures and operating expenses.
Govt. to Allocate Rp228 trillion for Election Security
The Indonesian Government has allocated Rp228 trillion from the state budget to maintain harmony during the general election to be held in 2018. Minister of Finance Sri Mulyani says the allocation was made to ensure the election process runs normally, avoiding or controlling any political tensions that might arise.
Bali Private Sector to Build Rp2 trillion Gas Power Plant
Several Balinese businessmen are working with foreign investors to build a Rp2 trillion gas power plant with a capacity of 200 MW. Chairman of Bali Chamber of Commerce Anak Agung Ngurah Alit Wiraputra explains the plan to build the power plant addresses the rising demand for electricity in Bali every year, cutting its dependence on power from Java.
Airbus Considers Building New Maintenance Facility in Indonesia
Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan has revealed that Airbus, a European multinational aircraft manufacturer, is mulling a plan to establish a maintenance facility in Indonesia, in partnership with local aerospace company PT Dirgantara Indonesia. The facilities would provide maintenance services for Airbus or Airbus-licensed aircraft, including the CN235, CN295 or A400M military transport aircraft currently in service with the Indonesian Air Force.