• Upstream Textile Industry of Indonesia Requests Tax Exemption

    The upstream textile industry of Indonesia urges the Fiscal Policy Office (in Indonesian: Badan Kebijakan Fiskal, or BKF) to exempt local raw materials - supplied by local manufacturers - from VAT. Redma Gita Wirawasta, Secretary General of the Indonesian Synthetic Fiber Producers Association (APSyFI), said he has discussed this proposal during several recent meetings with the BKF.

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  • High Steel Price May Disturb Indonesia's Construction Projects

    Steel manufacturers are concerned that the recent surge in steel prices may disrupt domestic infrastructure development projects. Purwono Widodo, Director International Relations at the Indonesian Iron & Steel Industry Association (IISIA), said the price of steel - particularly hot rolled coil - has continued to increase, especially in the last two months.

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  • Public Holidays in Indonesia: Idul Adha, Day of Sacrifice

    On Friday (01/09) markets are closed in Indonesia as the people celebrate Idul Adha, the day of sacrifice. On this public holiday people commemorate a story that is known in both Muslim and Christian circles, namely Ibrahim (Abraham)'s willingness to sacrifice his son, Ismael, to God. At the last moment, however, God intervened and told Ibrahim to sacrifice a sheep instead of Ismael. Ibrahim's act proved his commitment to God.

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