Bank Indonesia has announced that foreign debt grew 5.5 percent year-on-year (yoy) to US$355.7 billion in the second quarter of 2018, slower than growth in the previous quarter, which was 8.9 percent. Foreign debt consisted of $179.7 billion in government and Bank Indonesia debt and $176 billion in private debt, according to the central bank’s […]
Read MoreSaving and lending cooperatives, locally known as simpan-pinjam, have dominated grassroot-level financing for decades in Indonesia, but they are now tussling with technology as they compete with internet-based lenders. Some of the cooperatives are opening up to new technology by partnering with fintech lenders. For example, Koperasi Syariah Benteng Mikro Indonesia (Kopsyah BMI) in Tangerang, Banten, […]
Read MoreJAKARTA: Indonesia’s central bank left its benchmark interest rate unchanged for a second month, while keeping the door open for more policy action if needed. After hiking by 175 basis points since May, Bank Indonesia kept its seven-day reverse repurchase rate at 6 percent on Thursday, as predicted by all 26 economists surveyed by Bloomberg. […]
Read MoreResponding to recent confusion over a finance ministerial regulation on taxation for online transactions, the Director General of Taxation will issue a regulation as a guideline for traders who conduct business using e-commerce platforms. Finance Minister Sri Mulyani Indrawati said on Wednesday that the director general would ensure that online merchants would not have to […]
Read MoreBank Indonesia (BI) Governor Perry Warjiyo said on Wednesday that the central bank’s policy rate was nearing its peak after a series of aggressive hikes last year to make the rupiah more stable. The central bank’s board of governors is expected to announce their latest monetary stance on Thursday at 2 p.m. with analysts believing […]
Read MoreLarge department stores seem to be starting 2019 under gloomy prospects after closing several of their outlets in the first month of the year. Analysts see this as an indication that giant retail companies can no longer afford to compete with the growing number of smaller convenience stores. The spokesperson for Hero Supermarket, Tony Mampuk, […]
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