Global credit rating agency Standard & Poor’s on Thursday cut Indonesia’s debt outlook from “positive” to “stable”, arguing that recent economic reforms had lost its momentum, while a weaker external profile had reduced the chance of an upgrade over the next 12 months, reported Bloomberg.
The Indonesian economy could grow to be among the world’s top ten largest by 2025 if more investments are placed in manufacturing, infrastructure development and urbanisation, said a report by Citi Research on Thursday, noting a 128 percent jump in foreign direct investment from 2009-2012.
U.S. sporting goods giant Nike on Tuesday said that it would be launching an immediate investigation into its manufacturers in Indonesia, reported AFP, after reports emerged that Nike-contracted factories had hired military officers to intimidate workers into waiving their rights to the country’s newly enforced minimum wage.
The Indonesian government is set to omit the English language as a subject from primary school education as part of a curriculum overhaul to come into effect next year, reported the Jakarta Post on Thursday.
According to Deputy Education and Culture Minister Musliar Kaslim, the move was necessary to allow students to master the Indonesian language first before learning other foreign languages.
Indonesian President Susilo Bambang Yudhoyono spoke out in support of the nation’s anti-corruption body, the Corruption Eradication Commission (KPK), on Monday after the KPK became entangled in a bitter feud with the National Police over investigations of corrupt behaviour into each other’s agencies.
Indonesia could soon surpass Germany and the United Kingdom to become the world’s seventh largest economy, generating $1.8 trillion in annual gross domestic product, according to a recent report by McKinsey and Co.
Indonesia, a secular state, has the world’s fourth largest population and the world’s 16th largest economy. In terms of production, 55 percent of its population produces almost three-quarters of the country’s $837 billion economy.
A new “cleaner version of Facebook” is set to be launched in Indonesia this November, reported the Jakarta Globe on Monday, with its creators hoping to offer “better protection” for young Muslims from “harmful content” online.
Indonesia’s government is reportedly planning to merge its three time zones into a Unified Indonesia Time (Waktu Indonesia Bersatu), said Khabar Online on Monday, in a move that could synchronise Indonesia’s clocks with those of other regional economies such as Singapore, Taiwan, and Hong Kong.
Tax collectors in Indonesia will soon be trading their office wear for military fatigues, reported the Financial Times on Thursday, after the finance ministry announced plans to send 32,000 of its tax officers for two to three weeks of physical training with the military in order to boost morale and promote professionalism.
Bank Indonesia (BI), Indonesia’s central bank, are increasingly worried over how some large depositors are currently holding banks “hostage” over interest rates, reported the Jakarta Post on Tuesday, with 99 percent of the country’s banks believed to be unable to lower their lending rates for businesses.
