• Stock Market & Rupiah Update Indonesia: Another Day in the Red

    As we approach the year-end, and without the presence of positive triggers, investors seem to engage in profit-taking. Therefore, Indonesia's benchmark Jakarta Composite Index now extended its losing streak to seven straight sessions. Indonesian stocks fell 0.99 percent to 5,111.39 points on Wednesday (21/12), a decline led by consumer staples and financial shares, while the Indonesian rupiah depreciated 0.16 percent to IDR 13,459 per US dollar (Bloomberg Dollar Index). The Federal Reserve's recent rate hike still seems to overshadow global investor sentiment.

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  • Indonesia's Counter-Terrorism Squad Kills 3 Militants

    Indonesia's special counter-terrorism force Densus 88 killed three alleged terrorists in a shooting just outside the Indonesian capital city of Jakarta on Wednesday morning (21/12). Meanwhile, Densus 88 arrested another man and discovered a cache of bombs, presumably intended to be used for suicide bombings during Christmas celebrations. The shooting - and discovery of the bombs - took place at two rented houses at a housing complex in South Tangerang (Banten Province) some 25 kilometers outside Jakarta.

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  • Rising Religious Tensions in Indonesia after Islamic Edict

    Rising religious tensions not only rise in Indonesia due to the blasphemy trial of Jakarta Governor Basuki Tjahaja Purnama (Ahok) but also due to a recently issued edict by the Indonesian Ulema Council (MUI), Indonesia's highest Islamic clerical body. This edict prohibits Muslims to wear Christmas clothes and accessories and primarily aims at those Muslims who work in shopping malls where many restaurant and shop owners make their staff dress up in "Christmas-spirit".

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  • Oil & Gas Sector Indonesia: Gross Profit Sharing Fairer Mechanism

    The government of Indonesia is confident that the new gross profit sharing mechanism that is set to replace the cost recovery scheme in the oil and gas industry in early 2017 is a fairer system for both the oil & gas contractor and the government. Earlier this month, Indonesia's Energy and Mineral Resources Ministry announced this change in course. However, the new gross profit sharing mechanism in the oil and gas industry will only be applied to new contracts starting from early 2017.

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