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Syafi'i Ma'arif: "Many groups are more interested in symbols, not substance"

Lately Syafi'i Ma'arif has a long line of visitors waiting outside his office door. As Chairman of Muhammadiyah, he is often asked on the reactions of Islamic groups in Indonesia on the US attack of Afghanistan. Syafi'i was even invitedand asked to explainexclusively by ambassadors of the European Union countries. The topic was the pattern of Islamic movements here, from the radical to the moderates.

Interview Tuesday, November 6, 2001 Edition

Market Pulse: A Busy Start In 2017

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.

Economy Tuesday, January 24, 2017 Edition

A More Uncertain 2017

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.

Economy Tuesday, December 27, 2016 Edition

Revving Up The Economy for 2017

The tax amnesty program that will run through March 2017 offers hopes of increased economic growth. The government may be euphoric over the additional revenues generated, but the success should not tempt it to rest on its laurels.

The much-touted tax amnesty program has managed to collect Rp93.6 trillion as of last September, albeit a far cry from the government's target of Rp165 trillion. While going at the target, the tax directorate-general might as well take advantage of the broad tax base to increase revenues next year.

Opinion Tuesday, October 25, 2016 Edition

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