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Indonesia to open university sector to 100% foreign ownership

JAKARTA: Indonesian President Joko Widodo has instructed his cabinet to open up the university sector to 100% foreign investment, and allow overseas institutions to open campuses, the head of the country’s investment board said. South-East Asia’s biggest economy has had long-standing policies to protect sectors such as higher education from foreign investment, but Widodo’s administration […]

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Indonesia: Rupiah Falls 15 Points to Close at Rp13,759/Dollar on Wednesday

TEMPO.CO, Jakarta – The Indonesian rupiah fell 15 points against the US dollar to close at Rp13,759 at the Jakarta inter-bank spot market on Wednesday evening after it traded at Rp13,744 previously. According to observer Rully Nova, external factors, particularly trade war remain one of the factors causing the rupiah’s exchange rate to weaken in money market. “Many market agents […]

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Indonesia: Association urges postponing new coal shipping rules

The Indonesian Coal Mining Association (APBI) has called on the government to postpone implementing a new shipping policy that will oblige coal and crude palm oil (CPO) exporters to ship their commodities using only domestic shipping companies and insurance services. The policy is stipulated in Trade Minister Regulation No. 82/2017, which was issued last October and was […]

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Indonesia: Grab Opens Registration for Former Uber Drivers

TEMPO.CO, Jakarta – Management of ride-hailing app Grab opened its doors for former Uber drivers through an online registration. Grab Indonesia Managing Director Ridzki Kramadibrata said that the online registration allows outer region drivers or company partners as it’s called, to be integrated into the company’s core system which would enable them to register outside of Jakarta. […]

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Indonesia Targets Third Position in Global Footwear Industry

TEMPO.CO, Jakarta – Indonesia is targeting the third position in the global footwear industry by improving its current position as the fourth country after China, India, and Vietnam. “This year, we are targeting to enter the big three, supported by government interventions and ease of doing business,” Industry Ministry`s Small and Medium Industries for Fashion and Crafts director, […]

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Bank Indonesia to launch QR code payment regulation

Bank Indonesia (BI) has confirmed that it will issue a new regulation on quick response (QR) codes due to the method’s growing use among payment service providers. The Bank Indonesia Regulation, scheduled to be launched this month, will focus on the harmonization of QR code payment systems used by all providers and on the standardization […]

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