Bank Indonesia (BI) needs to follow the monetary policy of the United States Federal Reserve (Fed) in setting its reference rate so as to ensure stability in the rupiah’s exchange rate against the US dollar, Maybank Indonesia economist Myrdal Gunarto said on Monday. He said the rupiah exchange rate this year would not be stable, […]
Read MoreBank Indonesia has hinted that it will maintain its tight money policy this year amid the normalization of monetary policies by central banks in other countries. “The interest rate has nearly reached the peak, but liquidity is still low. Is it hawkish or not? The interest rate is [hawkish],” BI Governor Perry Warjiyo said in […]
Read MoreAfter lowering fuel prices for land transportation, President Joko “Jokowi” Widodo will likely call on state-owned oil and gas holding company Pertamina to lower the price of aviation turbine fuel (avtur), which has been blamed for the high operational costs of airlines. “I just heard from Pak [tycoon] Chairul Tanjung about avtur sold at Soekarno-Hatta International Airport, […]
Read MoreState-owned energy holding company Pertamina lowered the prices of its subsidized and non-subsidized gasoline by up to Rp 800 (6 US cents) per liter on Sunday, a move some consider political ahead of the presidential election in April. Although proposals to lower or increase fuel prices are made by Pertamina or other fuel distributors, they […]
Read MoreThe government has launched one-stop investment services in Batam to help process business permits on the island city, which has been designated as one of the country’s special economic zones. The one-stop services are located at a public service mall inaugurated recently by the Office of the Coordinating Economic Minister. Susiwijono, a secretary at the Office […]
Read MoreJAKARTA: Indonesia is set to make halal labelling mandatory for consumer products and services this year with the government assuming greater control of the certifying process from the Muslim-majority nation’s Islamic cleric council. Issuing halal certificates to consumer goods from shampoos to toothpaste and cosmetics may net the government about 22.5 trillion rupiah (US$1.6bil) in […]
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