• Bank Indonesia’s Foreign Exchange Reserves Rise slightly in August 2014

    The central bank of Indonesia (Bank Indonesia) announced that the foreign exchange reserves of Indonesia climbed slightly in August 2014. At the end of that month, the assets stood at USD $111.2 billion, up from USD $110.5 billion at the end of the previous month, fueled by strong oil and gas export revenue. These reserve assets can now adequately cover 6.5 months of imports or 6.3 months of imports and servicing of government external debt repayment, well above the international standards of reserves adequacy at three months of imports.

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  • Tourism in Indonesia: Growing but not Reaching its Potential

    The Indonesian government should improve inter and intra island connectivity to boost the number of foreign and domestic tourists in Indonesia. Due to the country’s lack of quality and quantity of infrastructure, a number of Indonesian regions that contain huge tourist potential cannot be reached easily. This was one of the conclusions drawn at a dialogue about the progress made after the Masterplan for Acceleration and Expansion of Indonesia’s Economic Development (MP3EI) has been underway for three years.

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  • Newmont Nusa Tenggara and Indonesian Government Signed MoU

    The Chief Executive at Newmont Nusa Tenggara, Martiono Hadianto, said that on Wednesday evening (03/09) a Memorandum of Understanding (MoU) has been signed between the USA- based mining giant and the Indonesian government after an 8-month dispute over the country’s ban on exports of mineral ore (implemented on 12 January 2014). The mining company can now resume copper concentrate exports next week. Earlier this week it had been announced that both sides would come to an agreement.

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  • Indonesia to Challenge EU’s Palm Oil Derivative Anti-Dumping Measures

    Indonesia is expected to challenge the anti-dumping measures on fatty alcohol - set by the European Union (EU) - at the World Trade Organization (WTO) as bilateral meetings have not led to the desired outcome. Recently, two Indonesian companies (Musim Mas and Ecogreen Oleochemicals) were forced by the EU to pay anti-dumping duties as these companies sold fatty alcohol at prices that were lower than those in the EU. Fatty Alcohol is made from palm kernel oil (a palm oil derivative) and are used in a wide variety of personal care products.

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