• Steel Price Rises but China and Other Steel Producing Nations Divided

    The price of steel has surged 20 percent to USD $365 per ton in April 2016 from USD $305 per ton at the start of the year. The primary reason for the higher steel price is China's plan to curtail the country's installed steel production capacity by a further 150 million tons over the next five years. In recent years the steel price has dropped significantly due to the global oversupply, mainly originating from the chronic steel oversupply in China where domestic demand declined amid the nation's economic slowdown.

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  • Foreign Ownership Landed Houses & Apartments in Indonesia (Update)

    Foreigners (expats) can buy a landed house or apartment in Indonesia (under the so-called 'right-of-use' category, locally known as hak pakai, which is weaker than the ‘right-of-ownership’ category or hak milik). However, the government set various requirements (including a minimum price). A new regulation stipulates a foreigner is not allowed to rent out his Indonesian property to other parties (authorities have the right to scrap the foreigner's 'right-of-use' title if he breaches this prohibition). Ferry Mursyidan Baldan, Indonesia's Agrarian and Spatial Planning Minister, provided an update on the issue of 'foreign property ownership in Indonesia'.

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  • Widodo Wants Moratorium on New Palm Oil Concessions in Indonesia

    Indonesian President Joko Widodo has ordered the nation's Minister of Environment and Forestry Siti Nurbaya to issue a moratorium on new palm oil concessions in a number of provinces. Although Widodo wants Indonesia - the world's top producer and exporter of crude palm oil (CPO) - to raise CPO output, he believes this increase can be achieved by increasing productivity of existing palm oil plantations, not by adding new plantations. Indonesia is often criticized by environmentalist groups for its forestry policies and poor law enforcement (which led to the severe haze that spread through Southeast Asia last year).

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  • Indonesia's Partnerships with Denmark & the United Kingdom

    Indonesia's Agriculture Minister signed a Memorandum of Understanding with the government of Denmark for investment into Indonesia's corn and sugar plantations as well as the cattle industry. Based on the words of Indonesian Agriculture Minister Amran Sulaiman it involves total Danish investment of at least IDR 2 trillion (approx. USD $152 million) for a period of five years. The deal involves the transfer of Danish agricultural technology, while Indonesia's part of the deal is to provide two million hectares of land. Meanwhile, Indonesia also plans to reaffirm its partnership with the UK in the creative economy industry.

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