Tag: Indonesia

Pakistan’s former ambassador to Indonesia sold embassy building illegally
12Sep By Joe RodriguezNo Comments
Asia

Pakistan’s former ambassador to Indonesia sold embassy building illegally

Pakistan’ former ambassador to Indonesia, Major General (retd) Syed Mustafa Anwar has been found guilty by National Accountability Bureau (NAB) of illegally selling the embassy building in Jakarta.Taking the case forward, NAB has filed a reference in court against Major General (retd) Syed Mustafa Anwar, in which it has stated that Anwar sold the Pakistani embassy building in Jakarta at a throwaway price during 2001-2002.The country’s top graft body went on to add that the illegal sale of the embassy building resulted in a loss of USD 1.32 million to the exchequer.According to media reports, NAB’s findings revealed that former ambassador Anwar was determined to sell the embassy building almost immediately after his appointment in Jakarta. For this purpose, he authorised an advertisement fo...
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Indonesia, Australia come into ‘Comprehensive Economic Partnership Agreement’
28Jul By Michael SmithNo Comments
USA

Indonesia, Australia come into ‘Comprehensive Economic Partnership Agreement’

In order to reduce trade barriers and boost economic growth, Australia and Indonesia came into the “Indonesia-Australia Comprehensive Economic Partnership Agreement” (IA-CEPA) on July 5.The agreement will open up new opportunities for Australian and Indonesian businesses, primary producers, service providers and investors.“The mutual benefits from this Agreement are critical. Australia wants not only a stronger Australia but also a stronger Indonesia. By reducing trade barriers, we can grow both of our economies and by encouraging trade and investment in areas of high potential for Indonesia, we can build greater capacity for its continued successful development,” the Australian government said in a statement.A key component of the IA-CEPA is a sweeping free-trade agreement (FTA) that will...
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Indonesia warns unemployment could hit decade-high due to coronavirus pandemic
22Jun By Mike TrudellNo Comments
Asia

Indonesia warns unemployment could hit decade-high due to coronavirus pandemic

Indonesian ministers on Monday warned that the country’s unemployment rate could hit the highest in more than a decade this year due to the coronavirus pandemic, with four million to 5.5 million people losing their jobs this year.Planning Minister Suharso Monoarfa told a parliamentary hearing on Monday that four million to 5.5 million people could lose their jobs this year, pushing the unemployment rate up to 8.1-9.2 per cent, versus 5.28 per cent in 2019.“The unemployment rate may remain between 7.7 per cent and 9.1 per cent in 2021”, he said.The forecast is still more conservative than that of Indonesia's chamber of commerce and industry, whose chairman expects new rounds of layoffs by August on top of an estimated 6.4 million jobs shed so far.“The number of people living below the pover...
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16May By Team FPNo Comments
Market

Indonesia asks big internet companies to pay value-added tax on sales of digital products and services

Big internet companies have been asked by the Indonesian government to pay value-added tax on sales of digital products and services from July, a move that other countries may also adopt as they seek to boost revenues following the coronavirus pandemic.Indonesia will impose a 10% VAT on digital products sold by non-resident internet companies with a significant presence in the Indonesian market, including streaming services, applications and digital games, beginning July 1, as per a regulation published on the finance ministry's website.Earlier, Indonesian authorities had said services by streaming platforms like Spotify and Netflix would be among those subject to the new tax.  The COVID-19 pandemic has accentuated a push by governments around the world to tax internet giants, who could se...
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