Business News

BANK INDONESIA HOLDS KEY RATE AT 6 PERCENT

Indonesian Central Bank (BI) maintained its key rate at 6 percent announced by the BNI Governor Perry Warjiyo. The deposit and lending facility also maintained at 5.25 percent and 6,75 percent, respectively. BI Governor said that that the policy is in line with joint efforts by the central bank and…

Biodiesel policy fails to reduce diesel fuel imports: BPS

The mandatory distribution of a 20 percent blend of biodiesel ( B20 ) that was launched in early September has not reduced diesel fuel imports. Imports in November even increased to 845,082 tons, 26.10 percent higher than the figure in October, according to the data issued by Statistics Indonesia (BPS).…

Consumer goods tariff hike shows little effect in curbing imports

A government policy to impose higher import tariffs on 1,147 consumer goods has been unable to significantly discourage importers, with imports decreasing by less than 10 percent since the rule was implemented in October. “From January to September, the [monthly] value of imports was US$31.1 million. It only decreased to…

Ministry regulates digital signature vendors

The Communications and Information Ministry is closely monitoring startups that provide digital signatures services to prevent any misuse, an official has said. To do so, the ministry has armed itself with Ministerial Regulation No. 11/2018 on electronic certification vendors, which was issued on Sept. 6. The regulation contains 14 requirements…
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