Indonesian President Joko Widodo stated during the launch of the “I Love Sharia Finance Program” that Indonesia should become the global center for Islamic finance (also known as sharia banking). The program, initiated by the country’s Financial Services Authority (OJK), was launched in Jakarta on Sunday (14/06). Islamic finance is a form of banking or banking activity that is consistent with the principles of sharia (Islamic law). In recent years, the global market for sharia-compliant financial instruments has risen robustly.

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On 14 June 2015, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic subjects such Indonesia’s economic growth in 2015, an update on the coal mining sector, stocks as well as the rupiah, the IPO of Mega Manunggal Property, the country’s luxury goods tax, and more.

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Next week Indonesian authorities start to exempt various goods from the country’s luxury tax in an effort to boost consumption in Indonesia’s slowing economy. Today (12/06), Indonesian Finance Minister Bambang Brodjonegoro said that the government aims to boost Indonesians’ purchasing power, industrial growth and to reduce consumers’ tendency to purchase goods abroad by scrapping the luxury goods sales tax for various products. Secondly, Indonesia will halve lending rates for some small businesses.

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Semakin kuat dugaan bahwa fenomena cuaca El Nino akan berdampak pada Indonesia dalam beberapa bulan mendatang. Selama beberapa minggu terakhir ini muncul beberapa laporan mengenai cuaca kering yang ganjil dan memberikan dampak negatif pada panen dan komoditi agrikultur di sejumlah wilayah Asia Tenggara. Di Indonesia, cuaca kering pada umumnya terjadi dari bulan Mei sampai Agustus. Meskipun begitu, El Nino mungkin menyebabkan cuaca yang lebih hangat dan memperpanjang musim kering sampai September dan karenanya mempengaruhi produksi di puncak musim panen. Hal ini akan mengurangi hasil produksi agrikultur dan menyebabkan tekanan inflasi.

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