Bank Indonesia (BI), the countrys central bank, unveiled a package of new regulations last week, including the multiple license rule, which is set to come into force next year. One of the nine regulations will classify banks based on their core capital and is expected to encourage consolidation between small banks through mergers and acquisitions and ultimately strengthen the nations banking sector, analysts say. According BI Governor Darmin Nasution said in Jakarta, these regulations are to encourage sustainable and inclusive financial growth.
Indonesias constitutional court partially upheld the latest challenge to the country’s mining laws on Thursday, in a verdict that sees regional governments gaining more control over the use of land for mining.
Indonesia’s biggest airport operator PT Angkasa Pura II will seek 20 trillion rupiah in commercial loans and bonds from next year to finance its $2.7 billion development of the country’s main airport, its chief executive said.
The Supreme Court rejected a ruling declaring Indonesias biggest telecommunication operator Telkomsel bankrupt overturning a controversial decision stemming from Rp 5.3 billion ($555,000) in unpaid debt.