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Indonesia seeks to impose import duties on intangible goods,

  Indonesia seeks to impose import duties on intangible goods, JAKARTA: Indonesia is looking to impose import duties  on intangible goods, such as electronic books and software, Finance Minister Sri Mulyani Indrawati has said. She earlier said that Indonesia was bound by a World Trade Organization (WTO) moratorium that banned developing countries charging import tariffs on intangible goods traded electronically. ... Read More »

WTO rules against Indonesia in US coated paper tax dispute,

JAKARTA: On December 6, 2017, a world Trade organization panel ruled in favor of US authorities in a dispute concerning trade dispute duties levied by the United States on Indonesian exporters of coated paper, having earlier twiced deferred forming a panel.In its ruling against Indonesia, the panel rejected all challenges to the US anti-dumping duties and countervailing duties, which were ... Read More »

Indonesia needs aggressive fiscal policy: Minister

JAKARTA: Indonesia needs more aggressive fiscal policy to spur demand and investment in Southeast Asia’s largest economy, according to chatib barsi, finance minister. Efforts to kick start economic growth through eight interest rate reductions since the beginning of 2016 have failed to yield desired results and President Joko Widodo may now need to pursue a more expansionist fiscal policy, Basri ... Read More »

Police foil smuggling of 600 thousand ecstasy pills from Netherlands

JAKARTA: Team from Directorate of Drugs at National Police (Polri) Headquarters managed to thwart the drug-trafficking type of ecstasy that is circulated by the Netherlands-Jakarta international ring. In the foiling effort, officers arrested six suspects and secured 243.20 kilograms of ecstasy drugs packaged in 120 packs, totaling 600 thousand pills. “Six suspects and hundreds of thousands of ecstasy pills are ... Read More »

Indonesian agribusiness giant APRIL outed in Paradise Papers

  JAKARTA: Indonesia’s second-largest pulp and paper firm routed billions of dollars through a network of offshore shell companies, likely to minimize its tax burden in the Southeast Asian country, where it has drained vast swaths of carbon-rich peatland in order to establish vast timber estates. The company, APRIL, also sought the removal of an environmental condition from a $600 ... Read More »

Indonesia Oct inflation seen easing slightly

JAKARTA: Indonesia’s annual inflation likely eased for a fourth consecutive month in October, a Reuters poll showed, as food prices were seen under control. The consumer price index (CPI) likely rose 3.68 percent in October on annual basis, compared with 3.72 percent in September, according to the median forecast from 18 analysts polled by Reuters. The annual core inflation rate, ... Read More »

Jakarta aggrieved by China’s ban on Indonesian mangosteens

  JAKARTA: Indonesia is experiencing friction with its largest trading partner, China, over access to the Chinese market for its mangosteens. Enggartiasto Lukita, Indonesia’s Trade Minister, told Asia Times on October 13, during a trade expo in Banten, on Java island, that: “We [have] complained about the export to China for mangosteens, bananas and bird nests.” China, which surpassed the ... Read More »

US imposes preliminary anti-dumping duties on Argentine, Indonesian biodiesel

  JAKARTA: The US Department of Commerce has imposed preliminary anti-dumping duties on biodiesel from Argentina and Indonesia ranging from around 50 to 70 per cent. The initial finding from the commerce department said exporters from Argentina had sold biodiesel at dumping margins of 54.36 to 70.5 per cent, while exporters from Indonesia sold it at a margin of 50.71 ... Read More »

Indonesia revises up Aug exports, imports

JAKARTA: Indonesia’s statistics bureau on Monday said it had revised the value of August’s exports and imports, but maintained the trade surplus figure. August exports were revised up to $15.23 billion from $15.21 billion, while imports were revised to $13.51 billion from $13.49 billion. The bureau maintained Indonesia’s trade surplus in August at $1.72 billion. The bureau on Monday gave ... Read More »

Indonesian police seized record 3.7 tons of controlled substances last year

  JAKARTA: Indonesian narcotics police seized 3.7 tons of controlled substances last year (2016), as ramped up raids led to hundreds of shipments being intercepted in the country’s war on drugs. About 1,230 suspects, including 21 foreigners, were nabbed in more than 800 operations by the National Narcotics Agency (BNN). The total drug seizure and arrests were significantly higher than ... Read More »

Difficult to achieve Indonesia’s tax-to-GDP ratio target in 2017

  JAKARTA: Her view is based on: (1) the country’s limited tax revenue collection so far this year, (2) Indonesia’s structural bad track record in terms of achieving tax revenue and ratio targets, and (3) the fact that we are approaching the year-end, hence there remains limited time to boost tax revenue. Indonesia’s tax revenue realization reached IDR 770 trillion ... Read More »

Indonesia looks to consolidate procurement rules

  JAKARTA: The Indonesian Ministry of Defence (MoD) said on 9 October that it will review its defence procurement procedures with a view to introducing a consolidated policy. The aim is to simplify processes and enhance transparency, it said. The MoD said the review is necessary in light of “different perceptions” about defence acquisition processes in the country, which has ... Read More »

Indonesia’s inflation at six-month low

JAKARTA: Indonesia’s consumer prices increased 3.72% year over year in September and 0.13% on a monthly basis, per the Central Statistics Agency. The country’s core inflation, which excludes volatile items such as food prices, increased 3% year over year in September compared with 2.98% in August. The inflation is well within the central bank’s target range of 3-5%. Moreover, it ... Read More »

Bank Indonesia suspends unlicensed e-wallets

JAKARTA: Leading Indonesian e-commerce startups have had to partially suspend e-wallet operations until they are granted a license by the central bank, as the growing popularity of the electronic services attracts greater regulatory scrutiny. These include Tokopedia, which recently announced it will raise $1.1 billion from Alibaba Group Holding and other investors; Shopee, a unit of Singapore-based Sea, which recently ... Read More »

Indonesia’s Sept annual inflation rate eases, hits 6-mth low

JAKARTA: Indonesia’s annual inflation rate eased for a fourth month in September to its lowest since March on the back of a continued decline in food prices, the statistics bureau said on Monday. Annual headline consumer prices rose 3.72 percent in September, compared with a growth of 3.82 percent in August. Analysts polled by Reuters had expected 3.67 percent. On ... Read More »

Bank Indonesia under pressure from falling inflation

JAKARTA: Bank Indonesia has cut rates in the face of a steady slide in inflation, and some observers believe it may have to take further action this year. Following the meeting ending on September 22, Bank Indonesia unexpectedly announced it was lowering the seven-day reserve repo rate by 25 basis points, to 4.25%. The central bank likewise cut its policy ... Read More »

Bank Indonesia cuts key rate again to fire up growth

JAKARTA: Indonesia’s central bank today cut its main interest rate for the second consecutive month, wrongfooting most analysts as it seeks to support sluggish lending and consumption holding back growth in South-east Asia’s biggest economy. Policymakers in Indonesia have been struggling to lift the economic growth rate, which has remained around 5 per cent in each of the past four ... Read More »

Exim-Indonesia seek to expand infrastructure investment

JAKARTA: Seeking to expand the investment opportunities of South Korean companies in the profitable Southeast Asian infrastructure market, the Export-Import Bank of Korea has hosted a forum to encourage business in Indonesia, according to officials Thursday. The Indonesia Infrastructure Investment Forum was held Wednesday at Millennium Seoul Hilton jointly by Eximbank and Indonesia’s Ministry of National Development Planning, upon the ... Read More »

Indonesian startups raised $3 bn in 53 investment deals in 2017

INDONESIA:  the land of a thousand kings. An exotic country chock-full of beauty, culture and a rich heritage. Home to more than 261.1 Mn people spread across 17,508 islands, Indonesia has undergone dramatic urbanisation in the last couple of years. Today, it boasts a thriving startup ecosystem. As per a report by Google and management consulting firm AT Kearney, in ... Read More »

Australia-Indonesia free trade talks going round in circles

JAKARTA: The latest press conference on free trade deal negotiations between Australia and Indonesia felt a lot like Groundhog Day. Australian Trade Minister Steven Ciobo and Indonesian Trade Minister Enggartiasto Lukita proudly told the assembled media that Indonesia will reduce tariffs on imported Australian raw sugar and Australia will eliminate import duties on Indonesian herbicides and pesticides. Only problem is ... Read More »