Bank Indonesia on Thursday raised its policy rate to maintain the attractiveness of Indonesian assets. Following its two-day board of governors meeting, the central bank decided to hike its seven-day reverse repo rate by 25 basis points (bps) to 6 percent, while the lending and deposit facilities were increased by the same amount to 6.75 […]
Read MoreWhile the implementation of the 20 percent blended biodiesel ( B20 ) mandatory policy needs fine tuning, biodiesel producers want the government to increase biodiesel content in fuel to 30 percent early next year. “If we want to save our foreign exchange further, we need to reduce diesel fuel imports by utilizing more fatty acid methyl esters [FAME]. We need to upgrade […]
Read MoreTEMPO.CO, Jakarta – Minister of National Development Planning/head of the National Planning Board (Bappenas), Bambang Brodjonegoro, has stressed the importance of boosting export to cover the rising trend of current account deficit. “It is true that the problem in oil and gas sector has caused the deficit. But if we can export more, the deficit can be covered,” Brodjonegoro stated on Wednesday. The central bank, Bank Indonesia (BI), has recorded an increase of current account deficit (CAD) in the third quarter of 2018 […]
Read MoreChinese e-commerce giant Alibaba provided a great opportunity for Indonesian products to reach China during Singles’ Day, also known as 11.11, the biggest online shopping festival in the world on November 11. Five Indonesian products were sold on the global platform of Alibaba’s Tmall, namely Kapal Api coffee, Yan Ty Ty bird’s nest, Richesse wafer, […]
Read MorePresident Joko “Jokowi” Widodo has ratified seven bilateral and multilateral trade agreements by signing a presidential regulation in a bid to boost trade, according to a senior trade official. Trade Ministry secretary-general Karyanto Suprih confirmed on Tuesday that he had been informed about the ratification. “This morning, I heard that the President had signed a […]
Read MoreState-owned cement producer PT Semen Indonesia (SI) president director Hendi Prio Santoso says the company will be able to produce 53 million tons of cement following the company’s acquisition of PT Holcim Indonesia. “Semen Indonesia alone controls 40 percent of the cement market in Indonesia, while Holcim controls 15 percent of the market. It means […]
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