Indonesia

Indonesia to probe StanChart for $1.4bn client transfer

Indonesia will investigate whether citizens linked to the transfer of 1.4 billion dollars of Standard Chartered private bank client assets complied with tax amnesty requirements.The country’s Finance Ministry received data on the fund transfer for tax compliance purposes and found it involved 81 private citizens, without any military, police, law enforcement or civil servants involved, Ken Dwijugiasteadi, director-general for taxation, told reporters in Jakarta on Monday.

10 October 2017
0

Weak spending stumps Indonesian policy makers

Almost four million new jobs, rising wages and eight interest-rate cuts in Indonesia should have been enough to spur consumers into action in the world’s fourth most populous nation.Instead, an increasing number of people are keeping a tight grip on their purse strings and putting their money in the bank, leaving policy makers and economists perplexed.

9 October 2017
0

Indonesia is the next start-up frontier

Big-name investors including Expedia and Alibaba are pumping billions of dollars into Indonesian tech start-ups in a bid to capitalise on the country’s burgeoning digital economy and potential as Southeast Asia’s largest online market.Indonesia has seen a surge of cash into its technology sector over the past two years, helping support dozens of homegrown start-ups ranging from ride hailing apps to e-commerce firms.And with a population of more than 250 million, a swelling middle class and gr

8 October 2017
0

LGBT Community Threatened In ASEAN

World renowned philosopher Plato once said, "we can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light."At a time when the rest of the world is fighting for tolerance and human rights, the 10 ASEAN (Association of Southeast Asian Nations) member states are seemingly lagging behind in promoting equality for all. The region is facing issues pertaining to gender equality in the workforce.

8 October 2017
0

Updating ASEAN's education system

Education policies are a vital function in transforming the education landscape and configuring the learning outcomes of any nation. A prominent feature of a successful educational transformation is that it’s guided by a clear goal or vision. This would ideally be implemented through coherent planning, micro-management and a constant monitoring process.

7 October 2017
0

World Bank sees currency risk in Southeast Asia

Malaysia, and to a lesser degree Indonesia, Thailand and the Philippines, remain more exposed to exchange rate risk than other developing economies in East Asia and the Pacific as global financial conditions tighten, the World Bank said.Companies and banks in these countries have sizeable external debt, although foreign exchange reserves currently appear adequate, the Washington-based multilateral lender said in a report on Wednesday.

4 October 2017
0

Polygamy dating app sparked controversy in Indonesia

A Tinder-style dating app for polygamists has sparked controversy in Indonesia, the world's most populous Muslim nation – but its developer says he "just wants to help" unmarried middle-aged women.Indonesian law defines marriage as between a man and a woman but polygamy is tolerated in certain circumstances, despite being generally frowned upon.Ayo Poligami, loosely translated as "let's go polygamy", is a free smartphone app that matches married and single Muslim

3 October 2017
0

Mount Agung and the Pacific 'Ring of Fire'

Mount Agung has been threatening to erupt for the first time in more than 50 years. The volcano last erupted in 1963 which left nearly 1,600 people dead. Indonesian officials raised the alert status to the highest level on late Friday, September 22. Over 144,000 people have fled the volcano and its vicinity since it started rumbling, but officials urged evacuees who are from outside of the immediate danger zone to return home.

3 October 2017
0

Bank Mandiri cautioned Indonesia from more rate cuts

Indonesia’s central bank should avoid cutting interest rates further because borrowing costs are at an appropriate level even as loan growth remains subdued, according to the chief of the country’s biggest lender.The current benchmark rate of 4.25 percent is “quite optimal,” Bank Mandiri President Director Kartika Wirjoatmodjo said in an interview on September 28. “Overall liquidity is much better” and “is not an issue anymore,” he said.

3 October 2017
0

Celebrating Indonesia’s cultural heritage, batik

“I consider myself lucky to be able to wear batik on several international events in Indonesia and overseas. It is a sense of pride,” Monika Nabillya, a 26-year-old accountant who resides in Indonesia, told The ASEAN Post.Batik is one of the most highly developed art forms of Indonesia’s rich cultural heritage. In 2009, UNESCO (The United Nations Educational, Scientific and Cultural Organisation) recognised Indonesian batik as a Masterpiece of Oral and Intangible Heritage of Humanity.

2 October 2017
0

Go-Jek to expand beyond Indonesia

Go-Jek, Indonesia’s first billion-dollar startup, is looking to expand its ride-hailing services to three to four countries in Southeast Asia, escalating its rivalry with Grab and Uber Technologies.Co-founder and Chief Executive Officer Nadiem Makarim didn’t specify the countries or services that Go-Jek will target, but said in an interview they will be places with a large population and where cash rules, hinting that Go-Jek’s digital payment service will be a key part of its push into new ma

2 October 2017
0