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January 24, 2017 edition

As we enter 2017, the government has been busy seeking ways to stabilize the rupiah. With the Federal Reserve raising US dollar interest rates late last year, other world currencies, including the rupiah, have weakened. Our currency, which in the third quarter of last year averaged about Rp13,100 per US dollar, closed the year at Rp13,400. Unfortunately, the rupiah will continue to face pressure, given the Fed's plan to further raise interest rates this year.
It is no surprise that the government recently allowed mining companies to export their mineral ores. This is to increase exports and foreign exchange earnings, to help stabilize the rupiah. Previously, the government banned mineral exports to encourage mining companies to go up the value chain and build the smelter production phase. Under the new arrangement, 70 percent of ore production is allowed for exports, while the remaining is required to be sold to local smelter companies. Currently, there are about 30 plus local smelter facilities, some in various phases of construction, a few already completed.

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More Economy articles in other editions

January 17, 2017 edition

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January 3, 2017 edition

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December 27, 2016 edition

Brexit forced economists to redo their projections for 2017. And, rightly so, as not long after the United Kingdom (UK) decided to leave the European Union (EU), its currency slumped to its lowest level in many years. The concern is that this nationalistic, anti-trade and anti-migration sentiment is gaining followers in other EU countries, which raises uncertainty over the future of the EU and its euro currency, especially with the upcoming elections in France, Germany, Italy and the Netherlands.
Forecasting became tougher when Donald Trump won the United States (US) general election. Although it's still uncertain what exactly his economic policies would look like, he did campaign to limit the flow of trade and migration, in particular, trade between China and the US and the flow of migrants between Mexico and the US, which could disrupt world trade.

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December 20, 2016 edition

Region-owned enterprises will receive interest-free bailout in the oil and gas block. The ONWJ is prioritized.

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December 13, 2016 edition

Property transactions by Indonesians in Singapores elite areas are conspicuously rising. Amid the tax amnesty programs aggressive campaign, Indonesians are choosing to bury their money in the neighboring country.

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November 29, 2016 edition

Syahrul Fitra, who visited Surya Dumai Agrindo's plantation area as a legal researcher from the Jakarta-based Auriga Nusantara Foundation, pretended to be a local resident in order to penetrate the premises. Syahrul did not look familiar to the two security guards at the company's entrance portal in Kampung Baru village, Bengkalis, Riau.
That afternoon, Syahrul joined a group of Kampung Baru citizens who wanted to fish in the canal located inside the oil palm plantation owned by Surya Dumai. There was a half-meter gap by the portal that serves as an entry-exit point for workers. The path, which lies along the edge of the oil palm plantation, is a popular path for people headed for the canal. "If you take a car, you'll certainly not be able to go through. So I pretended I was going fishing," said Syahrul, interviewed last week.

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