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Sat, 04 Jul 2015
Investments for Indonesia caught in bureaucratic web
JAKARTA: Since taking office in October, Indonesia’s Joko Widodo has been unrelenting in his pursuit of investment dollars. In just the first quarter, almost US$6.5 billion flowed into Indonesia - 14 per cent higher than in 2014, according to the Indonesia Investment Coordinating Board.
Sat, 04 Jul 2015
Uber and Go-Jek Get Totally Different Reception in Jakarta
Jakarta, GIVnews.com – In recent weeks, five Uber drivers were arrested by the Jakarta police, who was working together with the Organization of Land Transportation Operators (Organda). Organda Jakarta, which organizes all forms of land transportation in the capital city, has accused Uber of...
Fri, 03 Jul 2015
E-commerce group concerned over draft regulation
A group of e-commerce business players have raised concerns over a draft regulation prepared by the Trade Ministry, saying that the legislation had the potential to prevent small e-commerce business from growing.
Fri, 03 Jul 2015
Consumer Confidence Indonesia Falling: Less Ramadan & Idul Fitri Shopping
The latest survey of Bank Indonesia shows that consumer confidence in Indonesia has fallen in June 2015 on fears of shrinking job availability as well as declining income and business activity. Last month, the central bank’s Consumer Confidence Index fell 1.5 points to 111.3.
Fri, 03 Jul 2015
New Indonesian Regulation restricting foreign currency use in Indonesia – impact on shipping companies
Bank Indonesia (BI), Indonesia’s central bank, has introduced new measures to stabilise the value of the Indonesian Rupiah (IDR) and implement Indonesia’s Currency Law. The regulations will impact on all companies operating in Indonesia, including shipping and ports services companies.
Fri, 03 Jul 2015
Indonesia to draft new laws to address rapid rise of transport apps
Indonesia’s lawmakers are planning to start deliberations on a new law that would address the rapid growth of smartphone-based transportation applications. The new law would regulate the increasingly popular services, which otherwise fall into a grey area in the country’s existing transport...
Fri, 03 Jul 2015
Riady to ride wave of digital commerce
An executive director in the Lippo Group, Mr John Riady spearheads the family business' e-commerce drive. The group, whose chairman is Mr Riady's grandfather Mochtar Riady, has diverse interests in areas such as property, media, hospitals, education, cinemas and now e-commerce, among others.
Fri, 03 Jul 2015
Mandatory use of the rupiah in Indonesia
Bank Indonesia has issued Regulation 17/3/PBI/2015 concerning the mandatory use of the rupiah within the Indonesian territory, which applies to cash transactions as of March 31 2015 and non-cash transactions as of July 1 2015. The regulation implements the Currency Law (7/2011).
Thu, 02 Jul 2015
MyRepublic launches Indonesian fibre service
Fibre broadband start-up MyRepublic, based in Singapore and backed by Indonesian telco Sunshine Network and French telecoms billionaire Xavier Niel, has announced the launch of fibre internet services in Indonesia.
Thu, 02 Jul 2015
NGOs, Activists Fret New Role for Indonesia’s Spy Agency
A mysterious new partnership between Indonesia’s spy agency and Investment Coordinating Board (BKPM) to boost foreign investment has civil society wary of deepening agrarian conflict in the post-authoritarian country.
Thu, 02 Jul 2015
Homegrown Internet innovators rise in Southeast Asia
Last December, the 30-something CEO of a startup in Jakarta raised $100 million, a record for such a business in Indonesia. His name is William Tanuwijaya, and his e-commerce company is called Tokopedia. SoftBank is now Tokopedia's largest investor.
Wed, 01 Jul 2015
Govt Confident Tax Amnesty for Criminals Will Work
Jakarta. The government says its proposed amnesty for tax evaders will be a success because from 2017 increased exchange of tax-related data between nations will make it harder for criminals to keep money overseas.
Wed, 01 Jul 2015
Frustrated Indonesian leader launches charm offensive with investors
JAKARTA - Exasperated by the performance of his economics team, Indonesia's president has personally taken on the job of promoting Southeast Asia's largest economy to skeptical investors, said palace officials and economists.
Wed, 01 Jul 2015
Indonesia's PANDI Contributes to Responsive and Resilient Internet with First L-Root Instance
JAKARTA - The first L-Root instance in Indonesia has been successfully installed in Jakarta, increasing the Domain Name System's (DNS) overall fault tolerance and its resilience against certain types of cyber threats, such as Distributed Denial of Service (DDoS) attacks, a press release by ICANN...
Wed, 01 Jul 2015
BPJS Ketenagakerjaan Fully Transformed Into Government Body
Men work at a construction site without proper safety equipment. The government has made it mandatory for companies to register employees to join the universal social security scheme provided by The Social Security Administration Body for Employment, or BPJS Ketenagakerjaan.
Wed, 01 Jul 2015
Indonesia enforces foreign currency rules
Australians holidaying in Indonesia could find themselves short of money from today after the country’s central bank pushed through new legislation prohibiting foreign currencies from being used in domestic transactions.
Wed, 01 Jul 2015
Reduced 2015 property sales target imminent
JAKARTA -- Indonesian property developer Ciputra Development is planning to reduce its property sales target for the year as the national economic slowdown continues to erode demand. "We thought this year [would] be better, but investment has been weak," Ciputra director Harun Hajadi told reporters...
Tue, 30 Jun 2015
Malaysian developer begins S$1b project an Bintan
Malaysian-based property developer The Haven Sdn Bhd is starting the construction of hotel, resort and condotels projects, namely The Haven Bintan Hotel and Resort, in a 26-hectare area inside the Lagoi integrated tourism area, worth S$200 million (US$148 million) of initial investment.
Mon, 29 Jun 2015
Ministry keeps eye on unruly importers
The Trade Ministry is getting tough on importers that fail to provide sufficient documentation as such failures have made logistics dwelling time longer and created high business costs in the country which is struggling to revive its economy.
Mon, 29 Jun 2015
Ban on purchasing foreign boats
The letter refers to an article titled “President to ban purchase of foreign boats, (The Jakarta Post, June 21). Perhaps, President Joko “Jokowi” Widodo is unaware of Indonesia’s 2008 law on cabotage and its impact on the country.
Sun, 28 Jun 2015
Indonesian SMEs and the ASEAN Economic Community
Byline Randy W. Nandyatama Is there someone here who does not have a dead brother? I have a dead brother. He was killed by a bullet to his head. It was before dawn on the 1st of January, 1994 (…) for this purpose we Zapatistas have many big pockets in our uniforms; not for keeping bullets, for...
Sat, 27 Jun 2015
Eastern delight all-round in opportunities for Grimsby-area companies in Indonesia
EDUCATION in renewables could be the key to business opportunities for Grimsby-area companies in Indonesia. Two leading training providers operating in North East Lincolnshire are exploring opportunities, working alongside Hull and Humber Chamber of Commerce.
Fri, 26 Jun 2015
Bitcoin Brings Mathematical Certainty to Comply With Islamic Law
CoinTelegraph spoke with Matthew J. Martin on why Bitcoin is better for financial services companies that want to attract Muslim clients and offer “sharia-based” financial products. Matthew J. Martin is the founder of the startup Blossom Finance that uses Bitcoin to help Muslims with Islamic...
Fri, 26 Jun 2015
Austrex signs $10 million deal to form end-to-end meat processing company in Indonesia
One of Australia's largest exporters of live cattle has signed a deal, reported to be worth $10 million, with two Indonesian businesses to form an end-to-end meat processing company based in South Sulawesi.
Fri, 26 Jun 2015
Indonesia May Replace Economics Team, Vice President Says
JAKARTA, Indonesia—A cabinet shake-up is coming and could bolster the Indonesian government’s economics team as it struggles to reverse a downturn in Southeast Asia’s largest economy, Vice President Jusuf Kalla said Friday.
Fri, 26 Jun 2015
Finally, a startup that can take the pain out of hiring service providers in Indonesia
In Indonesia, finding a person to fix your leaky roof, install air conditioning units, or solving any typical chores around the house can be a pain. Few of these service providers have an online presence. Your best bet is to keep an eye out for flyers that float onto your porch or fill your mailbox.
Fri, 26 Jun 2015
This island paradise might be Indonesia's best kept secret
For most of its history, Nihiwatu has flown under the radar. Every now and again, the name would crop up when travellers of a certain ilk got together. Surfers knew about it. The wave that is Nihiwatu's raison d'etre saw to that. The best left-hand break in Indonesia was the word.
Thu, 25 Jun 2015
New UN Report Finds Increase in Foreign Investment for Indonesia in 2014
Jakarta. Indonesia ranked 14th globally when it came to measuring the inflow of foreign direct investment last year, climbing five places from 2013, according to a recent report from the United Nations Conference on Trade and Development (UNCTAD).
Thu, 25 Jun 2015
BKPM aims to lure more Japanese, Chinese firms
The Investment Coordinating Board (BKPM) hopes to attract more Japanese and Chinese investors to open factories in the country after others have proven successful in business here. “We fully support investment efforts by both lots of investors as their industries are labor-intensive ones that...
Thu, 25 Jun 2015
Japan contributes to ASEAN, India in retail, railway
AEON Mall, a subsidiary of Japan's largest retailer AEON Group, recently launched its first shopping mall in Indonesia. The massive facility is developed and operated by AMSL, in partnership with AEON and the local real estate giant, Sinar Mas Land.
Thu, 25 Jun 2015
Indonesia’s Jokowi presidency is becoming a desperate mess
The urgent, as they say, is too often the enemy of the important. We are rightly concerned with a bevy of foreign issues, many of them genuine crises — terrorism in the Middle East and at home, China’s territorial assertiveness in the South China Sea, Barack Obama’s likely sellout to Iran in...
Thu, 25 Jun 2015
Indonesia risks own goal as rupiah-only rule lifts company costs
[JAKARTA] For Indonesian drug maker PT Kalbe Farma, a ban on using currencies other than the rupiah for local transactions is coming at the worst possible time. Bank Indonesia will prohibit an estimated US$12 billion a day of such trades between domestic parties from July 1.
Wed, 24 Jun 2015
What does Asia have to offer against Square?
Last week Jack Dorsey, co-founder and CEO of Square, the world’s third largest fin-tech company by market capitalisation, also took a role of iCEO at Twitter. On top of that, a new wave of rumours about the company to go public by the end of this year hit the media.
Wed, 24 Jun 2015
This new Indonesian startup is a cross between Uber and Avis
Renting vehicles is common practice in Indonesia’s holiday destinations like Bali, where sightseeing is a main draw and mobility is necessary. However, one doesn’t often hear of folks renting cars in megacities like Jakarta, as most of the time they just hop into one of the many taxis swarming...
Wed, 24 Jun 2015
Indonesia police launch Uber investigation
Police in Jakarta have launched an investigation into Uber after local taxi companies filed a complaint against the ride-hailing app in the latest regulatory battles to blight the company’s expansion plans in Asia.
Wed, 24 Jun 2015
Four countries keen to invest in Indonesia's shipping sector
Jakarta (ANTARA News) - The Indonesian Investment Coordinating Board (BKPM) revealed that between October 2014 and May 2015 period, Japan, South Korea, China, and Australia have expressed keen interest to invest in Indonesia's shipping sector.
Wed, 24 Jun 2015
Investors lose patience for Indonesia’s infrastructure buildout
Have Indonesia’s construction stocks lost their lustre? For the past two years, many of the country’s listed construction companies — often referred to as “the Karyas” or “the Works” — have soared on a seemingly endless bull run.
Wed, 24 Jun 2015
Investors calm over weak rupiah: BKPM
Investment Coordinating Board (BKPM) chairman Franky Sibarani has said the weakening of the rupiah, which has recently been above Rp 13,000 per US dollar, poses no significant problems for investors. “At meetings, we ask [investors] what they think about the rupiah exchange rate, which stands at...
Wed, 24 Jun 2015
Burlington pub keeping imprisoned man's name in public eye
A Burlington pub is trying to maintain public awareness of the plight of a former local resident imprisoned in Indonesia. The Judge and Jury has placed a sign in front of its business on the northwest corner of Mainway and Walker’s Line.
Wed, 24 Jun 2015
Indonesia hopes tax amnesty will lure back capital
Indonesia hopes to bring billions of dollars in financial assets parked overseas back home - by pardoning past financial crimes. A Bill on tax amnesty is expected to be discussed in Parliament this year, said Finance Minister Bambang Brodjonegoro.
Tue, 23 Jun 2015
Indonesian ecommerce enabler Paraplou Group diversifies. Is it stretching itself too thin?
If you follow Indonesian ecommerce, there’s a decent chance you’ve heard the name Vela Asia. Until recently, the company referred to itself as a fashion ecommerce enabler, providing website-building, logistics, digital marketing, and other services. Last February, it successfully bagged US$1.
Tue, 23 Jun 2015
Securing Indonesia’s Energy Future
As Indonesia remains one of the fastest developing countries in the world, it is becoming increasingly difficult to meet its future energy needs. Analysts note that rising energy consumption follows an increase in GDP, which is exactly what Indonesia is experiencing.
Tue, 23 Jun 2015
Indonesia Seeks to Mend Fences With Wary Investors in Resources
Jakarta. Nationalistic policies imposed by Indonesia’s previous administration — including a ban on unprocessed mineral exports — threw the resources sector into turmoil last year. Now, there are signs under President Joko Widodo that the government is trying to mend fences with wary...
Tue, 23 Jun 2015
Malaysia,Indonesia record total trade of RM13.9b in Q1 2015
KUCHING: Malaysia and Indonesia recorded total trade amounting to RM13.98 billion in the first quarter of this year, said Indonesian Consul General to Sarawak, Jahar Gultom. He said of the total amount, the oil and gas sector accounted for RM2.
Tue, 23 Jun 2015
Govt revises down GDP growth forecast
The government has revised the country’s economic growth projection in the 2016 state budget, indicative of macro assumptions, to between 5.5 and 6 percent from between 5.8 and 6.2 percent previously.
Tue, 23 Jun 2015
Jokowi and the mysticism of Indonesian politics
The Jewish communities across Europe were outraged when in 1666 Sabbatai Zevi — a rabbi hailed as the messiah — converted to Islam instead of facing death, following his arrest by the Ottoman authorities in Istanbul.
Mon, 22 Jun 2015
Rothschild to sell out of ARMS as Asian bidder closes in on deal
LONDON June 8 (Reuters) - Financier Nathaniel Rothschild will abandon his troubled investment in Indonesia's coal industry, he said on Monday, agreeing to sell his stake in Asia Resource Minerals (ARMS) after securing an improved offer from an Asian bidder.
Mon, 22 Jun 2015
Transjakarta to Be Integrated with Go-Jek through Go Busway
The plan of integrating Go-Jek and Transjakarta, which DKI Jakarta’s Governor Basuki Tjahaja Purnama always dreams of, will soon be materialized. PT Transjakarta’s Main Director Antonius Kosasih stated that there’ll be a new app called Go Busway which is installed in Go-Jek app which...
Mon, 22 Jun 2015
Eight ministries responsible for long dwelling time: Pelindo
Jakarta (ANTARA News) - President Director of PT Pelindo II R. J. Lino said here on Monday that dwelling time at Tanjung Priok Port was long because the eight ministries involved in the activities were not interconnected yet. "It is not Pelindos fault.
Mon, 22 Jun 2015
Global Investors Bullish on Indonesian FinTech StartUps
Indonesian FinTech startups have attracted global venture capital giants, such as the Japan-based venture capital firm CyberAgent Ventures. Earlier this month, the firm announced that more than half of their new US$50 million fund will be dedicated to Indonesian startups.