• Remarkable News Indonesia: Is Bali David Bowie's Final Resting Place?

    Music legend David Bowie, who passed away on 10 January 2016 after a battle with liver cancer, wanted to be cremated - and his ashed scattered - on the Indonesian island of Bali. American media reported that the rock star wrote in his will that he be cremated according to a Buddhist ritual (although Bali is better known for its Hinduism-inspired rituals). If it would be impossible to be cremated on Bali, then he would still want his ashes to be scattered on the island. Reportedly, Bowie was cremated in New Jersey (USA) on 12 January.

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  • In Line with Slowing Economy, Indonesia's Credit Growth Slowed in 2015

    As expected, credit growth in Indonesia slowed in 2015 amid the nation's overall economic slowdown. Loan growth was particularly affected by weaker demand for property and working capital loans. Indonesia's gross domestic product (GDP) growth in 2015 is estimated to have slowed to 4.7 percent year-on-year (y/y), the country's slowest growth pace since 2009. In its January policy meeting Bank Indonesia decided to cut its key interest rate by 25 basis points to 7.25 percent, a move that should encourage loan growth this year in Southeast Asia's largest economy.

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  • Bank Indonesia Detects Lower Foreign Currency Demand

    Although causing waves of both criticism and support, Indonesia's central bank implemented BI Regulation No. 17/3/PBI/2015 regarding the Mandatory Use of the Rupiah in Indonesia on 1 July 2015 thus restricting the use of foreign currencies in transactions conducted within Indonesia in an effort to deepen the domestic rupiah market and stabilize the rupiah. After nearly seven months in effect the new regulation seems to have worked and lessened domestic demand for the US dollar according to a Bank Indonesia official.

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  • Tourism in Indonesia: Australia Gets the Visa-Free Visit Facility

    Indonesia's state news agency Antara reported on Friday (29/01) that the government of Indonesia will sign a regulation next week that allows visa-free visits for 80 additional countries, including Australia. Currently, a total of 90 countries already enjoy this visa-free facility (for trips that last a maximum of 30 days). Antara quoted the words of the country's Deputy Tourism Minister for Overseas Promotion I Gde Pitana. In 2015 the government provided this facility to an additional 45 countries in an effort to boost the tourism industry and generate more foreign exchange earnings.

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