Business News

OJK prepares rules on MTN, e-bookbuilding, disgorgement funds

The Financial Services Authority (OJK) is preparing three regulations on medium-term notes (MTN), electronic bookbuiling (e-bookbuiling) and disgorgement funds, which are scheduled to be issued in the third quarter.OJK stock market supervision executive head Hoesen said the authority needed to issue the regulations so that it could supervise financial services.He…

Online retailers approve of revocation of e-commerce tax regulation

Representatives from online marketplaces and online retailers have welcomed the government’s decision to revoke a regulation on e-commerce taxes that was originally to be enforced on April 1. Critics of the regulation argued it would have halted the growth of the e-commerce industry, which is still in early stages of…

Ministry tightens rules on sandals, textiles, home appliances over safety concerns

The Trade Ministry has issued new regulation requiring safety checks and labeling for electronic devices and goods containing hazardous chemicals, including rice cookers, rubber sandals and mattresses. The regulation, which will take effect on Aug. 14 2019, applies to local producers and importers."The ministry is requiring local producers and importers…

Govt to use online platform to sell items made by inmates

The government plans to promote items produced by inmates through e-commerce platforms to help the prisoners adjust back to regular life and earn a living once they are released from prison.Business empowerment for convicts has been a recurring program run by the Law and Human Rights Ministry for the last…
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