A consortium of Chinese and Indonesian firms on Tuesday signed a contract with KCIC, a firm tasked with monitoring the high-speed train project linking Jakarta to Bandung, unveiling the construction phase of the project.
SINGAPORE: An Indonesian entrepreneur and philanthropist is leading the launch of another Shariah compliant cryptocurrency allowing Muslims to fulfill financial obligations as required by the religion with an appropriate Islamic financial instrument.
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Apart from the sovereigns like Malaysia, Indonesia, Iran, Kuwait and Bangladesh, among others, tapping the Islamic debt capital market, it seems that non-sovereigns are also playing their part with dollar issuances of their own.
Indonesia is primed to see a surge in Islamic financial stocks as local Shariah financial institutions prepare to go public, in a move that would expand a rare asset class and offer Islamic asset managers more investment options.
When Australia reduced its foreign aid to Indonesia by 40 per cent in 2015, Indonesia’s Foreign Ministry responded that ‘Indonesia … is no longer a country that needs aid for development’. At face value, this seems to be the case. Data released by the OECD’s Development Assistance Committee (DAC) in October 2017 shows that net foreign aid to Indonesia from DAC member countries and from multilateral aid agencies like the World Bank has decreased...