The Today's Headlines section of Indonesia Investments is a daily updated section which contains the latest information with regard to topics that are currently causing headlines in Indonesia's media. Most of our headlines will cover political, economic and social matters. As a consequence of their recent nature, these topics may not have crystallized fully yet and can, therefore, lack a profound analysis. For publications with a more in-depth understanding of subjects, we refer you to our News, Financial or Business columns.
In a final ruling, released overnight (09/11), the US Commerce Department set anti-subsidy rates in the range of 34.45 - 64.73 percent for palm oil-based biodiesel imports that originate from Indonesia. This final ruling was slightly lighter than the preliminary 41.06 - 68.28 percent range that was set in August 2017.
Bank Indonesia, the central bank of Indonesia, said the country's official foreign exchange reserves fell to USD $126.5 billion at the end of October 2017 (from the all-time record high level of USD $129.4 billion at the end of the preceding month).
Local governments in Indonesia have been announcing their new minimum wages in recent weeks. According to national law, municipal minimum wages have to be announced before 21 November 2017 (and will come into effect on 1 January 2018). Overall, the Indonesian government set a 8.71 percent increase in minimum wages for 2018. This way it allows the Indonesian workers to adjust to continuously rising living costs.
Ngakan Timur Antara, Head of the Agency for Industrial Research and Development (in Indonesian: Badan Penelitian dan Pengembangan Industri, or BPPI), said Indonesia occupies the fifth position in terms of the world's largest leather and footwear (shoe) exporters.
