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Hot Emergent Market: Indonesia

Southeast Asia's largest economy may grow 60 percent in the next five years to $800 billion due to a stable administration, lower capital costs and a government plan to spend as much as $34 billion to build roads, ports and power plants by 2017, Morgan Stanley said. Leaders of the nations known as BRIC will meet this week in the Russian city of Yekaterinburg.

Southeast Asia's largest economy may grow 60 percent in the next five years to $800 billion due to a stable administration, lower capital costs and a government plan to spend as much as $34 billion to build roads, ports and power plants by 2017, Morgan Stanley said. Leaders of the nations known as BRIC will meet this week in the Russian city of Yekaterinburg. Indonesia may expand as much as 4 percent this year, making it the fastest-growing major economy in Southeast Asia, according to the International Monetary Fund. Morgan Stanley expects 3.7 percent growth this year.

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Hot Emergent Market: Indonesia

Southeast Asia's largest economy may grow 60 percent in the next five years to $800 billion due to a stable administration, lower capital costs and a government plan to spend as much as $34 billion to build roads, ports and power plants by 2017, Morgan Stanley said. Leaders of the nations known as BRIC will meet this week in the Russian city of Yekaterinburg.

Southeast Asia's largest economy may grow 60 percent in the next five years to $800 billion due to a stable administration, lower capital costs and a government plan to spend as much as $34 billion to build roads, ports and power plants by 2017, Morgan Stanley said. Leaders of the nations known as BRIC will meet this week in the Russian city of Yekaterinburg. Indonesia may expand as much as 4 percent this year, making it the fastest-growing major economy in Southeast Asia, according to the International Monetary Fund. Morgan Stanley expects 3.7 percent growth this year.

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Rupiah and Korean Won rose this week, leading Asian currencies

The rupiah extended this quarter's gain, the best performance in Asia. The MSCI Asia Pacific Index of stocks climbed for a fourth day as Australia's economy unexpectedly expanded in the first quarter. The Philippine peso strengthened on speculation falling borrowing costs will help revive economic growth.

The Indonesian rupiah and the Korean Won gained after data from the U.S. and Australia added to signs of a global economic recovery, giving investors the confidence to buy emerging-market assets.

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Indonesia cut its interest rate

The Bank Indonesia cut its benchmark rate by 25 basis points to an all-time low of 7% in June.

The rate cut came in line with expectations. This is the lowest level since July 2005, when the measure was first introduced. In May, the central bank had slashed its benchmark rate by a quarter point to 7.25%.

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Indonesia Casts Doubt On ASEAN Integrated Capital Market

Indonesia expressed their doubts on the viability of an integrated capital market among ASEAN member states by 2015.

Indonesia expressed their doubts on the viability of an integrated capital market among ASEAN member states by 2015. The chairman of the capital market and financial institution supervisory agency (Bapepam-LK) Fuad Rahmany said that there is a lack of a common regulatory framework shared between the countries for the region to implement an integrated capital market by 2015. He also added that the region has the problem of synchronizing the regulations that were issued by each member country particularly because most of the ASEAN member states have inherited deep-rooted legal systems from their former colonial occupiers, making it difficult to adopt a single regulation to suit all needs.

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Indonesia Eyes More Currency Swap Agreements

Indonesia is looking to forge more bilateral currency swap agreements with other countries to bolster confidence and ease volatility of the rupiah against the US dollar.

Indonesia is looking to forge more bilateral currency swap agreements with other countries to bolster confidence and ease volatility of the rupiah against the US dollar. This comes after the country signed a Rp 175 trillion or 100 billion yuan ($15 billion) currency swap agreement with China to provide short-term foreign exchange liquidity and help boost bilateral trade and investment. Currency swap agreements would eventually reduce the need for US dollars because bilateral trade between the two agreeing nations could use the currency under the swap deal.

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Indonesia Not To Let Rupiah Fall To Help Export

Bank Indonesia said it will not let the rupiah fall against the dollar to make exports more competitive amid slumping global demand, arguing that such a move carries risks as well.

Bank Indonesia said it will not let the rupiah fall against the dollar to make exports more competitive amid slumping global demand, arguing that such a move carries risks as well. These risks include further exposing local companies to overseas debts. Most of Indonesia's debts, both in the private and the public sectors, are denominated in US dollars. The rupiah has already weakened 7.3 percent this year and is one of the worst performing currencies in Asia against the US dollar.

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Corporate Overseas Debt Poses Risk to Indonesian Reserves

The Bank of Indonesia revealed that over $22.6 billion worth of overseas debts, or about 42 percent of the country's existing foreign exchange reserves, are set to mature by the end of this year, which poses a threat to the country's economy.

The Bank of Indonesia revealed that over $22.6 billion worth of overseas debts, or about 42 percent of the country's existing foreign exchange reserves, are set to mature by the end of this year, which poses a threat to the country's economy. The bank, however, was quick to assure that the maturing debt amount was 'still within safe limits according to World Bank criteria'. But these overseas debts were among the factors that might lead to the weakening of the rupiah against the dollar.

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Indonesia To Get $1b Standby Loan

Indonesia is finalizing an agreement to get a $1 billion (Rp 12 trillion) standby loan from the Islamic Development Bank (IDB) and the French government to help prop up its economy during the global financial crisis.

Indonesia is finalizing an agreement to get a $1 billion (Rp 12 trillion) standby loan from the Islamic Development Bank (IDB) and the French government to help prop up its economy during the global financial crisis. It is expected that the country will get $500 million from the IDB and $500 million from the French government. Prior to this agreement, Indonesia already received $5.5 billion.

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Indonesia, Malaysia Push For Sub-Regional Cooperation

Indonesia and Malaysia are pushing the region's private sectors and administrations to initiate sub-regional development cooperation.

Indonesia and Malaysia are pushing the region's private sectors and administrations to initiate sub-regional development cooperation. The two countries pledged to work together within the sub-regional framework of the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) and the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA). They argue that there are good opportunities for cross-border sub-regional economic development and cooperation in energy, agriculture, agribusiness, mining and forestry.

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Indonesian Government Gears Up To Limit Free Trade Deal Adversities

The Indonesian government is preparing to provide financial and technical support for the country's meat and tropical fruit businesses ahead of the ASEAN-Australian and ASEAN-New Zealand free trade agreements (FTA).

The Indonesian government is preparing to provide financial and technical support for the country's meat and tropical fruit businesses ahead of the ASEAN-Australian and ASEAN-New Zealand free trade agreements (FTA). The Ministry of Agriculture proposed to use Rp 145 billion (US$12.18 million) from this year's stimulus package to help boost their competitiveness against foreign competitors. These businesses are expected to face problems after the FTA's are implemented. Under the FTA, Indonesia will completely remove its import duties on fourth beef products from Australia and New Zealand by 2020 and on seven dairy products between 2017 and 2019.

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