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Indonesia: Rupiah Strengthens by 10 points Wednesday Morning

TEMPO.CO, Jakarta – The rupiah was trading stronger by 10 points to Rp13,314 per US dollar in Jakarta interbank market this morning. Samuel Sekuritas economist Rangga Cipta said today that the rupiah is getting stronger against US dollar as the Central Statistics Agency (BPS) releases July inflation figures that remain steady. “Despite lower inflation due to weakened consumer purchasing power, the market has responded positively,” he said. The BPS records 0.22 inflation rate in July. As such, 2017 year to […]

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Indonesia Aims to Become World Largest Coffee Producer

TEMPO.CO, Makassar – Agriculture Minister Amran Sulaiman said that Indonesia is aiming to become the second largest coffee producer. Therefore, farmers are expected to step up production from 691,000 tons in 2016 to 1 million ton this year. “We are now [in] the fourth [rank]. We need to increase [production] to 1 million ton. If we can achieve it, we will rank second in the world,” he said yesterday, July 31, in Makassar. The minister said […]

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Indonesia: Govt Has No Option But to Import Salt: Minister

TEMPO.CO, Pekanbaru – Minister Darmin Nasution said that the government has no option but to import salt following the lack of supply on the domestic market. “We have no choice, it’s already been done, the stocks of salt are lacking,” the Coordinating Minister for Economic Affairs Darmin said yesterday, July 31, in Pekanbaru. He said that salt import is […]

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Vietnam: Indonesia seeks to boost palm oil, paper trade

HANOI — Vietnam’s import of palm oil and paper from Indonesia could experience a year-on-year increase of 38 per cent, Indonesian ambassador to Vietnam Ibnu Hadi said on Wednesday. While addressing a seminar held by the Indonesian Embassy in Vietnam with the aim of linking the two countries’ businesses in the trade of palm oil […]

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Alibaba Eyeing Indonesian Major E-Commerce Company

TEMPO.CO, Jakarta – Alibaba Group Holding Co. is eyeing investment opportunities in Indonesianmajor e-commerce company Tokopedia, according to Strait Times. A source said that the China-based company is currently negotiating to lead a series of US$500 million funding for Tokopedia. A smooth negotiation would see Alibaba joining SoftBank Group and Sequoia Capital as the existing investors of Tokopedia. Alibaba may challenge JD.com that aim to become an investor as well. Both Alibaba and Tokopedia managements have yet to issue a statement on the report. For Alibaba, Tokopedia is the […]

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