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May, 2, 2016

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Business > Asia > Indonesia
At least 35 people were injured Wednesday when a packed commuter train slammed into the back of another at a station in the Indonesian capital Jakarta during rush hour, an official said.
 
Despite serious plunges in the stock market, coupled with a faltering Indonesian economy and a declining rupiah, the Indonesia Stock Exchange (IDX) says that seven companies still plan to hold initial public offerings (IPOs) before the end of the year.
 
Indonesia will issue permits to import another 50,000 cattle, the government said, after beef prices soared and butchers went on strike following a decision to dramatically reduce shipments from Australia.
 
Inflation remained unchanged yet high in Indonesia in July despite predictions of easing, as consumers stocked up on food and transport tickets ahead of the Muslim holiday of Eid, government data showed Monday.
 
Renewed dangers in Bank Indonesia reserves
Bank Indonesia (BI) has warned that the rupiah's depreciation might exert stronger inflationary pressures this year, with the central bank consequently forced to intervene more aggressively in the market to stem excessive declines in the currency.
 
In an attempt to attract more foreign investment, Indonesia has streamlined its investment application process and aims to create 25 special economic zones in the future, said Indonesia Investment Coordinating Board (BKPM) Chairman Franky Sibarani yesterday.
 
Peter Sondakh, the Indonesian billionaire, made his fame and fortune turning around sickly state-owned enterprises into hugely profitable companies.
 
Indonesia announced Friday it will grant a 30-percent stake of the Mahakam gas block to be shared between French Total and Japanese Inpex, while giving the majority stake to state-owned oil firm Pertamina in 2018.
 
Indonesia's energy ministry said Friday the country will rejoin the Organization of Petroleum Exporting Countries this year to forge a closer relationship with oil suppliers.
 
Indonesian Finance Minister Bambang Brodjonegoro has tinkered with fiscal policy as he relaxed the requirements for corporate tax allowances and eased luxury taxes on certain items to pump fresh blood into the sluggish economy that is expanding at a six-year low.
 
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