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September, 30, 2016

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Business > Asia > Indonesia
Indonesian carriers feel weak rupiah
Some local airlines have decided to scale back their fleet expansion plans and reduce their promotion expenditure as the rupiah's fall against the U.S. dollar has began to affect their businesses.
 
With the rupiah sinking, George Lee, 59, a Singaporean chef working in Jakarta, feels lucky to be paid in Singapore dollars. Two years ago, he would get 7,000 rupiah for every Singapore dollar. Now, he gets over 9,000 rupiah.
 
Indonesia's trade deficit unexpectedly hit a record high in July, data showed Monday, heaping pressure on policymakers to shore up the economy which is facing a grim future as investors flee.
 
Indonesia on Friday unveiled measures aimed at boosting confidence in Southeast Asia's biggest economy after huge outflows of foreign capital this week sent stocks and the rupiah tumbling.
 
Indonesia's inflation hit its highest level in July since early 2009 after a fuel price hike and an increase in the cost of food during Ramadan, official data showed Thursday.
 
Demand for condominiums in Jakarta and nearby areas has grown in the past few years due largely to robust economic growth as well as the scarcity of land in the capital city.
 
Indonesian President Susilo Bambang Yudhoyono has told his ministers not to play blame games among themselves in relation to stabilizing beef prices, which continue to soar. According to the president, soaring beef prices are related to problems in issuing an import permit.
 
Indonesia's initial drafts on a connectivity framework and multi-year plans for investment in infrastructure development are taking a new course, an official says on Saturday.
 
Indonesia's oil output is expected to rise to 870,000 barrels per day in 2014, up about 30,000 bpd from this year's target, the head of the country's energy regulator said on Friday.
 
An Indonesian care giver was sentenced recently to three months in jail and deportation for neglect causing injury to her employer.
 
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