Friday, January 22We Deliver News To You

Economy and Finance

Economy and Finance

Early 2021, OJK Launches Consumer Protection Application

JAKARTA - The Financial Services Authority (OJK) will launch the Consumer Protection Portal Application (APPK) in early 2021. We intend this application to optimize consumer protection efforts or customers in the financial services sector under the supervision of OJK. "Starting January 1, 2021, services for complaints and consumer dispute resolution in the financial services sector. They can carried out in an integrated manner through the Consumer Protection Portal Application or APPK. With strong protection, hoped that consumer confidence will increase and strengthen the stability of the financial system in Indonesia," based on the written statement of the OJK, Wednesday (2/12). Various features have been made in the application made by OJK As an integrated consumer protection port...
Economy and Finance

Sri Mulyani Emphasizes Paying Taxes to Safeguard the State

JAKARTA - Finance Minister Sri Mulyani Indrawati emphasized that all taxes that must be paid by the public are an effort to keep the country able to withstand various pressures including the Covid-19 pandemic. The taxes collected are used to realize various aspects the community can enjoy that, from infrastructure to quality education. "Why do we pay taxes? That is to protect Indonesia, to return to society. Why do we buy drinks with taxes or do parents pay taxes? "It's not because the state makes it difficult for parents. But the money that we raised so that Indonesia can run again". She said at the Ministry of Finance's online event in Jakarta, Monday (30/11). She said that they aimed at the development of infrastructure that was being intensified by the government. At making all act...
Economy and Finance

Rupiah Strengthens as Unemployment Increases in the US

JAKARTA - The rupiah exchange rate, which was transacted between banks in Jakarta on Thursday (26/11) morning, moved stronger in line with the increasing number of unemployed in the United States (US). At 9.41 WIB, the rupiah had strengthened 29 points or 0.2 percent to the position of IDR 14,115 per US dollar compared to the previous day's IDR 14,144 per US dollar. "The US dollar appears to be under pressure against major currencies such as the euro, pound sterling, and yen. Due to the rising weekly US unemployment benefit claims report. Which means the number of unemployed has increased," said Ariston Tjendra. Head of Research and Education at Monex Investindo Futures in Jakarta, Thursday (26 / 11). US initial jobless benefits claims data increased to 778,000 claims in November 2020 ...
Economy and Finance

Indonesia Digital Economy Is Predicted to Reach US $ 44 Billion

JAKARTA - The e-Conomy SEA report incorporated by Google, Temasek, and Bain and Company uncover the versatility of advanced economy Indonesia. In its fifth yearly report, named 'At full speed: Resilient and Racing Ahead', the nation's web economy overall is assessed to be worth US $ 44 billion (GMV) by 2020 and is assessed to contact US $ 124 billion (US) by 2025. Consolidating the investigation of Google Trends, Temasek, and Company just as industry sources and master talks with, this report subtleties which areas are performing best and which have been generally influenced by the pandemic. Internet business expanded 54 percent to US $ 32 billion out of 2020, from US $ 21 billion out of 2019. The developing force of web-based business in Indonesia is reflected in the fivefold expansio...
Economy and Finance

UMKM Must Be Creative During the Pandemic

JAKARTA - The Ministry of Cooperatives and Small and Medium Enterprises (UMKM) stated that business people must be patient, resilient, and creative during a pandemic. They also have to be able to diversify their business, so that if one business dies, they can move to other businesses. "Creativity must not die. That is the message of the Minister of Cooperatives and SMEs that we must remember and hold". Said the Secretary of the Ministry of Cooperatives and SMEs, Prof. Rully Indrawan. When opening the West Java Youth Creative Industry Week 2020 with the theme 'Expo and Awarding of Creative Industry Product Innovations. West Java Youth 'in Bandung, Monday (23/11). On that occasion, he also reminded again, the current condition of the Indonesian economy is experiencing a difficult period...
Economy and Finance

OJK Prepares New Rules Fintech Lending

JAKARTA - The Financial Services Authority (OJK) is reviewing new regulations regarding the implementation of Financial technology peer to peer lending or fintech lending. The plan is based on the draft Regulation OJK on Information Technology-Based Collective Funding Services to associations and the general public in mid-November 2020. Deputy Commissioner of the OJK Institute and Digital Finance. Imansyah said the plan for the new regulation was due to the massive addition of fintech and avoiding regulatory arbitrage. "There are two main thoughts, there are those who let it. Let the market become the regulator of the fintech context. But there are also those who say we need rules to make it clear which fintech is really good. Which ones are fake, "he said, last weekend. According to h...
Economy and Finance

Indonesian Export Performance Is Considered To Remain Solid In The Pandemic Era 

JAKARTA - Indonesia's trade performance recorded a surplus of 3.61 billion US dollars in October 2020. Thus, this is the sixth time trade balance Indonesia Has experienced a surplus in a row this year.  Researcher at the Institute for Economic and Social Research (LPEM), Faculty of Economics and Business, University of Indonesia (FEB UI), Mohammad Dian Revindo, assessed that a trade surplus occurred because export performance remained solid amid the Covid-19 pandemic. "Indeed, exports are solid during this pandemic. Export performance is almost the same as last year's export, which is not a pandemic situation, meaning exports are very solid," Revindo said, Thursday (19/11). Based on the records of the Central Statistics Agency (BPS), the export value in October 2020 reached 14.39 billi...
Economy and Finance

Jokowi Invites Foreign Investors to Use Omnibus Law

JAKARTA - President Joko Widodo (Jokowi) specifically invited foreign investors, especially in the Asia Pacific region, to take advantage of the ease of investing offered by the Omnibus Law on Job Creation.  "I invite CEOs and entrepreneurs in the Asia Pacific region to take advantage of the opportunities from the Omnibus Law which passed," said Jokowi.  The President added that the government is currently pursuing the preparation of implementing regulations for the Job Creation Law. This implementing regulation will simultaneously regulate the details of policies that reduce investment regulations and make it easier to start a business.  "We will finish implementing regulations as soon as possible. So that various regulatory reforms and debureaucratization can be immediately felt by ...
Economy and Finance

These Are The Benefits And Challenges Of Bidenomics To Indonesian Goverment

JAKARTA - Indonesian Institute Development for Economic and Finance (Indef) economist Bhima Yudhistira said that the election of Joe Biden as president of the United States (US) is a new era for the global economy. Indonesia will also be positive. And by its challenges in the policies economics of the Biden era or often referred to as Bidenomics. The greatest potential for Indonesia is the increase in the value export of several commodities. Starting from clothes, apparel, and footwear to fishery products that have been exported to Uncle Sam’s country. This increase is because Biden plans to raise the federal minimum wage which will increase the purchasing power of the US public, especially the middle and lower class. "This will have an impact on product demands, including Indonesian ...
Economy and Finance

Development of Covid-19 Vaccine Encourages Strengthening of IHSG

JAKARTA - The domestic stock market opened higher on trading Tuesday (17/11). The Jakarta Composite Index (IHSG) rose 0.50 percent to 5,522.58. Meanwhile, the LQ45 index rose 0.63 percent.  Head of research for Samuel Sekuritas Indonesia, Suria Dharma, said the sentiment of the vaccine Covid-19 still drove the strengthening of the IHSG. "The development of the Covid-19 vaccine encourages market optimism," said Suria, Tuesday (17/11). In addition, he continued. The strengthening of the IHSG was also driven by the strengthening of the United States (US) stock market. The US stock market closed overnight in the green zone with the Dow Jones rising 1.6 percent, the S&P 500 up 1.17 percent, and the Nasdaq gaining 0.8 percent.  Moderna reported positive results for the Covid-19 Vaccine ...