indonesia - Banking & Finance

Finance Ministry to launch Portal for Auction

JAKARTA, Nov 14 (ANTARA News) - The Ministry of Finance will launch a website named lelang.go.id to facilitate people to participate in the auction process as well as make this activity more informative and accessible.
Date: 14 November 2018; Type: Industry Updates; Source: Antara

Parliament passes into Law RAPBN 2019 in Plenary Session

Jakarta, Oct 31 (ANTARA News) - The House of Representatives (DPR) has passed into law the draft state budget (RAPBN) 2019 in a plenary session here on Wednesday. Finance Minister Sri Mulyani Indrawati said the draft budget reflected optimism at the same time prudence amid the environment full of challenges. "Prudence and watchfulness doe ...
Date: 31 October 2018; Type: Legal News; Source: Antara

Government to set aside Special Allocation funds for National Museums

Jakarta, Oct 20 (PNA) (ANTARA News) - The government will set aside Special Allocation Funds (DAK) for several national museums in the country.
Date: 20 October 2018; Type: Legal News; Source: Antara

Indonesian, Australian Central Banks agree to extend Swap Agreement

Jakarta, Aug 9 (ANTARA News) - The central banks of Indonesia and Australia have agreed to extend their bilateral local currency swap agreement worth Rp100 trillion (AUS$10 billion) from December 2018 to December 2021.
Date: 09 August 2018; Type: Industry Updates; Source: Antara

BI and Philippine Central Bank sign MoU on Money Laundering

Jakarta, Aug 5 (ANTARA News) - Bank Indonesia (BI) and Bangko Sentral Ng Pilipinas (BSP) have signed a Memorandum of Understanding (MoU) on cooperation to prevent money laundering and block fund for terrorism.
Date: 05 August 2018; Type: Industry Updates; Source: Antara

Indonesia to use Two References for Financial Market

Jakarta, July 24 (ANTARA News) - Indonesia will soon use two financial market's references of INDONIA for the overnight index and Jakarta Interbank Offered Rate (JIBOR) for a week to 12-month index.
Date: 24 July 2018; Type: Industry Updates; Source: Antara

House Commission approves Additional Budget for Industry 4.0

Jakarta, July 13 (ANTARA News) - The Commission VI of the House of Representatives has approved proposal for additional budget of RP2.57 trillion for the Industry Ministry to carry on with the national agenda of the fourth industrial revolution.
Date: 13 July 2018; Type: Legal News; Source: Antara

Digital Innovation could push Development of Sharia Finance

Makassar, S. Sulawesi, July 4 (ANTARA News) - A Finance Ministry official said innovation of services in digital economy could lead to development of sharia economy in this southeast Asia's largest economy.
Date: 04 July 2018; Type: Industry Updates; Source: Antara

Revision of State Budget to be presented by the end of June: Finance Minister

Jakarta, June 26 (ANTARA News) - Finance Minister Sri Mulyani Indrawati said her ministry will propose the draft revision of the state budget to the House of Representatives by the end of June after it reports the realization of state budget in the first half of 2018.
Date: 26 June 2018; Type: Industry Updates; Source: Antara

Minister outlines Four Economic risks in 2019

Jakarta, June 5 (ANTARA News) - The Finance Minister, Sri Mulyani Indrawati, has pointed out four risks that could affect economic performance in 2019.
Date: 05 June 2018; Type: Industry Updates; Source: Antara

Bank Indonesia to prioritize Monetary Policy

Jakarta, May 31 (ANTARA News) - Bank Indonesia will prioritise monetary policy oriented towards exchange rate stability as the Indonesian rupiah weakened by 37 points to RP14,025 from RP13,988 to the US dollar on Wednesday`s opening.
Date: 31 May 2018; Type: Legal News; Source: Antara

Minister believes BI will make Best Decision on Exchange Rate

Jakarta, Apr 27 (ANTARA News) - The Coordinating Minister for Economic Affairs, Darmin Nasution, believes Bank Indonesia (BI) will make the best decision on adjusting its benchmark interest rate to stem the rupiah's weakening.
Date: 27 April 2018; Type: Industry Updates; Source: Antara

Financial System remains stable: BI

Jakarta, Apr 23 (ANTARA News) - The financial system remains stable and the bank intermediation function continues to improve, Bank Indonesia (BI) Executive Director for Communications Agusman stated.
Date: 23 April 2018; Type: Industry Updates; Source: Antara

Indonesian Government issues Bonds in Double Currencies

Jakarta, Apr 18 (ANTARA News) - The Indonesian government has issued dollar-denominated bonds and euro-denominated bonds worth US$1 billion each.
Date: 18 April 2018; Type: Industry Updates; Source: Antara

Indonesian Central Bank gets New Governor

Jakarta, Mar 28 (ANTARA News) - The House of Representatives (DPR), through its Commission XI on banking affairs, in a fit and proper test session on Wednesday endorsed the candidacy of Perry Warjiyo as the new Bank Indonesia (BI) Governor.
Date: 28 March 2018; Type: Industry Updates; Source: Antara

President issues Regulation to eradicate Money Laundering, Terrorism

Jakarta, Mar 14 (ANTARA News) - President Joko Widodo has issued a Presidential Regulation No.13 Year 2018 on the Prevention and Eradication of Money Laundering and Terrorism, the information center of the Cabinet Secretary said here, Tuesday.
Date: 14 March 2018; Type: Legal News; Source: Antara

Government not to propose Budget Revision for Subsidy Change

Jakarta, 13 (ANTARA News) - The government will not propose a revision of the state budget in relation to a change in the ceiling of subsidy due to a fluctuation of global crude prices, a Finance Ministry official said.
Date: 13 March 2018; Type: Legal News; Source: Antara

Bank Indonesia studies Use of Blockchain

Jakarta (ANTARA News) - Bank Indonesia (BI) is studying the use of blockchain, a system in which a record of transactions made in bitcoin or another cryptocurrency is maintained across several computers.
Date: 30 January 2018; Type: Legal News; Source: Antara

Central Bank warns Banks against violating LTV Regulation

Jakarta, Jan 27 (ANTARA News) - Bank Indonesia said the Jakarta administration`s plan to build low cost houses on bank credit without down payment needs legal basis.
Date: 27 January 2018; Type: Legal News; Source: Antara

Bitcoin possesses Potential to fund Terrorism: BI

Denpasar, Bali, Jan 25 (ANTARA News) - Bank Indonesia (BI) stated that the digital currency Bitcoin possesses the potential to be used as terrorism funds and in money laundering crimes as its transactions are being done under a pseudonym.
Date: 25 January 2018; Type: Legal News; Source: Antara

INDUSTRY UPDATES

House Panel to probe 'Budget Anomalies' in January

MANILA, Dec 13 (PNA) - The House of Representatives rules committee will start its investigation on the alleged “budget anomalies and questionable allocations” by the Department of Budget and Management (DBM) on January 3, Majority Leader Rolando Andaya Jr. announced on Thursday.

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ASEAN launches Safe Migration Campaign

Jakarta, Dec 12 (ANTARA News) - The Association of Southeast Asian Nations (ASEAN) has launched a safe migration campaign to increase public awareness of the advantages of employing migrant workers.

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Nation celebrates Universal Declaration of Human Rights

Government agencies and diplomatic and international organisation representatives gathered in Vientiane to mark the 70th anniversary of the Universal Declaration of Human Rights and its lasting impact, which was supported by the United Nations, European Union and Australia.

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SC welcomes Malaysia's Improved Ranking in Corporate Governance

KUALA LUMPUR, Dec 13 (Bernama) - The Securities Commission Malaysia (SC) is encouraged by the recognition of Malaysia's initiatives to improve corporate governance, which was a result of the collective effort by various stakeholders.

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INDUSTRY UPDATES

MyCC to identify Anti-Competitive Elements in Eggs Market

KUALA LUMPUR, Dec 13 (Bernama) - The Malaysia Competition Commission (MyCC) is working closely with the Ministry of Domestic Trade and Consumer Affairs (MDTCA) to identify any anti-competitive elements that may occur in the domestic market for chicken eggs.

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MITI, MIDA, Intel hold IoT Forum to review Progress

KUALA LUMPUR, Dec 12 (Bernama) - The Ministry of International Trade and Industry (MITI), Malaysian Investment Development Authority (MIDA) and Intel Malaysia conducted the Internet of Things (IoT) Malaysia Forum 2018 yesterday to review IoT’s progress since its introduction five years ago.

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Unions request Government to set Workers’ Minimum Wage

Unions have asked the government to set the minimum wage for the construction and service sectors and to solve the five other major problems facing them, a statement released on International Human Rights Day on Monday said.

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Dewan Rakyat adjourns, Reform Agenda implemented - Speaker

KUALA LUMPUR, Dec 11 (Bernama) - The reform agenda of the Parliament was implemented at the second meeting of the first term of the 14th Parliament which came to a close today after sitting for 30 days since Oct 15.

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INDUSTRY UPDATES

Court proposes Mediation in Theresa Kok's Suit against Jamal

KUALA LUMPUR, Dec 11 (Bernama) - The High Court today proposed that Primary Industries Minister Teresa Kok who filed a libel suit against Datuk Seri Jamal Md Yunos over alleged misuse of Yayasan Warisan Anak Selangor (Yawas) funds, resolve the case via mediation.

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Vietnam, Laos boost Judicial Cooperation

Hanoi, Dec 10 (VNA) - Vietnamese Minister of Justice Le Thanh Long and his Lao counterpart Xaysi Santivong agreed to work closely together to launch a bilateral cooperation programme for 2019, during their talks in Hanoi on December 10.

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Nation marks Constitution Day

BANGKOK, 10th December 2018 (NNT) - Today marks National Constitution Day, observing the importance of the administrative document and celebrating its 20 incarnations throughout the democratic history of Thailand.

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INDUSTRY UPDATES

Court has Final Say on Trillanes' Travel Abroad: DOJ

MANILA, Dec 10 (PNA) - Justice Secretary Menardo Guevarra on Monday said the Bureau of Immigration (BI) will not prevent Senator Antonio Trillanes IV from traveling abroad if no travel ban is handed down by the courts against him.

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Government concerned about Readiness of SMEs to adopt Industry 4.0

KUALA LUMPUR, Dec 10 (Bernama) - The Government is concerned about the readiness of local industries, particularly Small and Medium Enterprises (SMEs), to adopt Industry 4.0.

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Memorandum of Understanding between Bank Negara Malaysia and Dubai Financial Services Authority

On 28 November 2018, Bank Negara Malaysia (BNM) and Dubai Financial Services Authority (DFSA) had signed a Memorandum of Understanding (MoU) on supervisory cooperation for effective supervision of banking and insurance/ takaful/ reinsurance institutions operating in both countries.

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DFA holds first ever Gender and Development Assembly

MAKATI, Dec 6- As part of the Department of Foreign Affairs’ (DFA) programs to continually mainstreaming gender and development (GAD) policies in its programs and activities, it hosted the agency’s first ever Gender and Development (GAD) Assembly at the Makati Diamond Residences on 06 to 08 November 2018.

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Vietnam, Cambodia PMs attend Business Forum

Vietnam and Cambodia could make their two-way trade value at US$7-8 billion by 2020 as they have established sound cooperation across sectors and their governments have regularly taken measures to remove difficulties for businesses, Prime Minister Nguyen Xuan Phuc said.

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Cambodia, Laos set to boost Bilateral Trade

Cambodia and Laos have pledged to boost trade and investment across their border, while trade volume between the two countries last year was just over $27 million, according to the Cambodian Ministry of Commerce.

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INDUSTRY UPDATES

Revenue Department says it does not collect Higher Tax from Online Merchants

BANGKOK, Dec 8 (NNT) - The Revenue Department has insisted that the Revenue Code Amendment Act draft is not intended to make online merchants pay more tax but to analyze the behavior of taxpayers.

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