Indonesia is on track to achieve its (revised) oil lifting target in 2016 (referring to crude oil that is ready for sale). Two weeks before the end of 2016, Indonesia produced an average of 821,000 barrels of oil per day (bpd) this year so far, slightly above the target of 820,000 bpd that was set in the Revised 2016 State Budget. Initially, the Indonesian government targeted national oil production at 830,000 bpd. However, earlier this year the target was revised down to 820,000 bpd.

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Express Transindo Utama, Indonesia's second-largest taxi operator, saw its shares surge on Monday morning (19/12) after the company announced a pilot program for ride-sharing and vehicle financing in Jakarta in cooperation with ride-hailing company Uber. The partnership involves the integration of Uber technology with the operations of the Indonesian listed taxi operator. Hence, Express drivers can take orders from the Uber app, in addition to their normal taxi services.

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The central bank of Indonesia (Bank Indonesia) expects inflation to reach the range of 0.50-0.60 percent month-on-month (m/m) in December 2016 as Christmas and New Year celebrations, traditionally, give rise to higher consumer spending. The projection would also imply that full-year inflation will fall well within Bank Indonesia's target range of 3.0 - 5.0 percent (y/y) in 2016 (year-to-date, Indonesian inflation has accumulated to 2.59 percent), the second straight year of mild inflation (for Indonesian standards).

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On 18 December 2016, 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 over the last seven days. Most of the topics involve political, social and economy-related topics such as the impact of the Fed Funds Rate hike, the November trade balance, Bank Indonesia's interest rate environment, tax amnesty program, infrastructure development, Ahok's blasphemy trial, and more.

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