Business News
Sales purchase Agreements hamper efforts to reduce oil import : Official
Sales purchase agreements between domestic oil contractors and foreign firms may hamper the government’s effort to reduce oil import by requiring state-owned oil and gas holding Pertamina to buy all oil lifting produced by the contractors, an official says. Previously, President Joko “Jokowi” Widodo told Pertamina to buy all oil…
Trade Balance Indonesia: Big Monthly Trade Deficit in July 2018
Suhariyanto, Head of BPS, said Indonesia's trade deficit in July 2018 was actually different from before as the deficit occurred in both the oil & gas and non-oil & gas sector. Usually the deficit only occur in the oil & gas sector. Imports into Indonesia reached USD $18.27 billion in…
Bank Indonesia raises key rate by 25 bps to 5,5 percent
Bank Indonesia (BI) raised its key rate on Wednesday in a move to maintain the competitiveness of the domestic financial market and to rein in swelling deficit in the current account. Following a two-day board of governors meeting, the central bank raised its seven-day reverse repo rate by 25 basis…
Indonesia suffers double-digit decline in foreign investment
Foreign direct investment in Indonesia shrank 12.9% on the year in the April-June quarter as companies wary of policy shifts ahead of the April 2019 presidential election stayed on the sidelines. Foreign direct investment totaled 95.7 trillion rupiah ($6.56 billion), the Indonesia Investment Coordinating Board said on Tuesday.
