Today's Headlines in Indonesia

The Today's Headlines section of Indonesia Investments is a regularly updated section which contains the latest information with regard to topics that are currently causing headlines in Indonesia's media. Most of our headlines cover political, economic and social matters. As a consequence of their recent nature, these topics may not have crystallized fully yet and can, therefore, lack a profound analysis. For publications with a more in-depth understanding of subjects, we refer you to our News, Financial or Business columns.

  • Deficit in Indonesia's Steel Industry Puts Pressure on Trade Balance

    Indonesia imports between 6.5 - 7.5 million tons of steel each year to meet domestic demand. Given that Indonesia's steel exports are insignificant it therefore implies that steel is one of the components that puts heavy pressure on the country's trade balance. The steel deficit of Indonesia is estimated to reach USD $7 billion this year. Indonesia requires some 12.5 million tons of steel per year for its construction projects. However, the domestic steel industry can only supply about 6 million tons of steel.

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  • Palapa Ring Project Indonesia: Construction West Section to Start

    The West section of Indonesia's Palapa Ring project is ready for construction according to the Indonesian Communication and Information Ministry. The majority of funds for the West Palapa Ring section - estimated to require IDR 1.28 trillion (approx. USD $97 million) in total - are ready to be disbursed. The Palapa Ring project, which consists of three sections (the West, Central and East sections), is one of Indonesia's priority infrastructure projects. It involves a huge undersea fiber-optic cable network that will offer faster broadband to the entire archipelago.

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  • Indonesia's Stocks & Rupiah Influenced by Hawkish Fed & Lower Oil Price

    Most Asian stocks slid on Monday (22/08) as there occurred renewed speculation about a Fed Funds Rate hike in September 2016 after hawkish statements from Federal Reserve officials, while crude oil prices fell nearly 2 percent in Asian trade after Iraq indicated that it seeks to boost exports, hence effectively snapping a seven-day winning streak. However, Indonesia's benchmark Jakarta Composite Index (IHSG) was up 0.21 percent to 5,427.17 points on the first trading day of the new week.

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  • Bank Indonesia Sees GDP Growth at 4.9% - 5.3% in 2016

    At the latest policy meeting, Indonesia's central bank (Bank Indonesia) not only adopted a new benchmark monetary tool (the BI seven-day reverse repo rate) but also announced that it cut its forecast for economic growth in 2016. Earlier, Bank Indonesia estimated Indonesia's GDP growth in full-year 2016 in the range of 5.0 - 5.4 percent (y/y). However, it slightly cut its projection to the range of 4.9 - 5.3 percent (y/y) due to the government's decision to curtail expenditure by IDR 133.8 trillion (approx. USD $10.1 billion).

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