The wRap Indonesia: Cut in fuel prices, rupiah gains
JAKARTA, Indonesia – Indonesia cuts energy prices in its most recent economic stimulus announcement, the rupiah rises, and other top news stories to start your day.
1. Newest stimulus measures
Indonesia Wednesday, October 7, unveiled its third batch of stimulus measures in the space of a month, including a cut to energy prices, as Southeast Asia's biggest economy battles a slowdown.
The economy is growing at its slowest pace for 6 years and the rupiah is at a 17-year low, as the country is hit hard along with other emerging markets by signs of strengthening in the US and turmoil in China. In the 3rd installment of an economic policy package, the government announced a cut in a range of energy prices, including diesel, jet fuel, and liquefied petroleum gas, used by tens of millions across the country in cooking. Read more.
2. Rupiah gains
Waning expectations of an early rise in US interest rates helped higher-yielding currencies advance against the dollar again Wednesday, October 7.
The Indonesian rupiah and the Malaysian ringgit led gains on upbeat Indonesian trade data and strong Malaysian export figures for August. On Tuesday, the rupiah's gain was the biggest in one day, in over 6 years. Read more.
3. Drone footage of haze
New aerial footage released Wednesday, October 7 showed smoke billowing from Indonesian forest fires as smog-choked Singapore's biggest supermarket chain announced a ban on products from a paper company accused of the haze shrouding Southeast Asia.
Fires illegally started to clear land for plantations on Indonesia's Sumatra island and the Indonesian part of Borneo have for weeks been producing thick haze that has cloaked Singapore and Malaysia, prompting the cancellation of outdoor events and school closures. Read more.
4. Midnight curfew
Will nightclubs in Jakarta soon have a midnight curfew?
After a proposal last week to limit opening hours by the Regional Representatives Council (DPRD) DKI, Head of Tourism and Culture Department Purba Hutapea assessed the plan and expressed his disapproval. "In the Jakarta metropolitan, many expatriates and professionals who work late look for entertainment after 10. It would be too short," Hutapea told Rappler. Read more.
5. Shark fins
Indonesian authorities have seized about 3,000 shark fins that were about to be flown to Hong Kong, an official said Wednesday, October 7, a rare success in the battle against the illegal trade.
The fins from the oceanic whitetip shark, a species protected in Indonesia and banned from export, were seized last week at the international airport that serves the capital Jakarta, government official Rusnanto, who goes by one name, said, Read more. – Rappler.com