• Federal Reserve's Janet Yellen: Case for US Rate Hike Strengthens

    Federal Reserve's Janet Yellen: Case for US Rate Hike Strengthens

    After the speech of Federal Reserve Chair Janet Yellen at an annual meeting of central bankers in Jackson Hole (Wyoming) on Friday (26/08), speculation about a looming Fed Funds Rate hike has risen. In her speech Yellen said the case for higher US interest rates has strengthened in recent months due to the nation's economic growth and stronger jobs market. Meanwhile, Federal Reserve Vice Chairman Stanley Fischer said a US interest rate hike could come as early as September 2016.

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  • Business Leaders Indonesia Reject Mandatory CSR Program

    Business Leaders Indonesia Reject Mandatory CSR Program

    Indonesia's business community rejects the proposal of the House of Representatives (DPR) to impose mandatory corporate social responsibility (CSR) programs on Indonesian companies. A proposal that is being discussed among the DPR stipulates that companies need to allocate about 2 - 3 percent of their annual spending for their CSR programs. Hariyadi Sukamdani, Chairman of the Indonesian Employers Association (Apindo), informed that Indonesian employers generally reject the proposal. Instead the government should focus on improving companies' tax compliance (which remains very low).

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  • 13th Economic Policy Package Indonesia: Low-Cost Housing

    13th Economic Policy Package Indonesia: Low-Cost Housing

    Earlier this week the government of Indonesia released its 13th economic policy package. This 13th edition focuses on the reduction of bureaucracy (red tape) in a bid to boost the construction of low-cost housing for the poorer segments of Indonesian society. Currently, property developers are required to obtain 33 permits before they can start to build affordable housing for the low-income people of Indonesia. This results in a costly and time-consuming process.

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  • Profit of Indonesia's State-Owned Energy Firm Pertamina Soars 221%

    Profit of Indonesia's State-Owned Energy Firm Pertamina Soars 221%

    Indonesia's fully state-owned energy company Pertamina saw its net profit grow by a whopping 221 percent (y/y) to USD $1.83 billion in the first half of 2016. This remarkable performance is attributed to the company's enhanced operational performance and efficiency in the upstream and downstream segments. Dwi Soetjipto, General Director of Pertamina, that despite the oil and gas industry being plagued by major challenges, Pertamina managed to take its responsibility in terms of the energy supply, being the nation's foremost local energy supplier.

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