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Tag: Indonesia

  • Vietnam stock hits fresh near 10 years high

    Vietnam stock hits fresh near 10 years high

    Vietnam shares gained 0.9 percent, with real estate developer Vingroup Joint Stock Company climbing 4.7 percent to an all-time peak.

    Global equities were largely muted as concerns of a delay in U.S. tax reform proposal and apprehension over Saudi Arabia’s rising tensions with Iran soured investor sentiment.

    “Markets seem unsure which way to go next – equity markets are largely becalmed…,” ING analysts said in a note.

    Most Southeast Asian stock markets were muted today, with Indonesia slipping from a record close, as investors took a breather in the absence of market-moving data.

    Indonesian stocks slumped 0.3 percent from a record close, dragged by the telecommunications sector, with Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, down 1.7 percent.

    Singapore index was largely flat, with real estate giant CapitaLand Ltd down 1.1 percent and Keppel Corp Ltd giving up 0.9 percent.

    Philippine stocks edged 0.3 percent lower, with industrial stocks accounting for majority of the losses, as SM Investments Corp slumped 2.8 percent, and food processor JG Summit HoldingS dropped 1.2 percent.

    Real estate stock Ayala Land was the biggest drag on the index, declining 2 percent. Manila-based RCBC Securities analyst Fio De Jesus attributed the stock’s move to profit-taking after it rose 1.3 percent in its previous session on strong nine-month earnings.

    Thai shares pared early gains in the session to trade down 0.1 percent ahead of the Bank of Thailand’s rate decision due later in the day. The central bank is expected to leave its benchmark interest rate near record lows again, with the current level seen supporting the country’s economic recovery while inflation stays benign.

  • Indonesia threatens to block WhatsApp messaging over obscene content

    Indonesia threatens to block WhatsApp messaging over obscene content

    Indonesian government gave Whatsapp a two-day notice to block obscene GIF images.  Indonesia on Monday vowed to block Facebook Inc’s WhatsApp Messenger within 48 hours if the service did not ensure that obscene Graphics Interchange Format (GIF) images were removed.

    WhatsApp, which is widely used in Indonesia, the world’s most populous Muslim-majority nation, said message encryption prevented it from monitoring the animated graphics files, known as GIFs, that are available on the app through third-party services.

    WhatsApp said in a statement on Monday that it asked the government instead to work with those providers, which integrate their technology into WhatsApp to allow users to enter keywords to search for GIFs.

    Indonesia’s Internet is partly censored, with access blocked to websites providing criticism of Islam, dating services and sex education, according to research published in May by Tor Project, a nonprofit maker of Web browsing tools.

    Semuel Pangerapan, a director general at Indonesia’s communications and informatics ministry, said WhatsApp would be blocked within 48 hours unless the images supplied by third parties were taken off the service.

    “Yes, true. They have to follow the rules of the host,” Pangerapan said of the proposed block.

    The ministry had sent three letters to WhatsApp over the issue, he said.

    “They have responded, but asked us to speak directly to the third party. The GIFs appeared in their apps. Why do we have to be the one speaking to the third party? They are supposed to be the ones managing it,” said Pangerapan.

    Tenor Inc, one of the third parties, said it was attempting to release a “fix.” Giphy Inc, another provider, did not respond to requests to comment.

    Jennifer Kutz, a Tenor spokesperson, said in a statement that the company is working “to address the content issues raised by the Indonesian government within the next 48 hours.”

    Kutz said the company “regularly” works with “local entities to make sure our content reflects the cultural mores and legal requirements.”

    She declined to identify the proposed fix or existing regions with content restrictions. Tenor allows integrators of its service to block potentially objectionable image results or a defined list of search terms.

    “In the case of WhatsApp, we’re taking on this responsibility,” Kutz said in an email.

    Giphy, a New York City company that also works with WhatsApp, offers its partners a feature for filtering inappropriate images.

    Indonesia’s warning did not appear to target Gboard, a keyboard app developed by Google that provides comparable GIF search results but must be installed separately from WhatsApp on most devices.

    Indonesia had 69 million monthly active Facebook users as of the first quarter of 2014, ranking the country fourth globally after the United States, India and Brazil, company data showed.

    Some reaction on Indonesian social media to the threatened block was sceptical. “While you’re at it, why don’t you block Twitter too, (and) if necessary all browsers in the Playstore, because it’s way easier to search for porn there than on WhatsApp,” wrote one Twitter user, with the handle @jnessy.

    The country’s regulators have reached settlements with several technology companies after threatening to shut them down. In August, Indonesia announced it would block Giphy’s website for showing gambling-related ads. Access soon was restored after it agreed to cooperate with regulators.

    Bans similarly were rescinded in recent years on social media websites such as Vimeo and Tumblr and the chat app Telegram, which regulators had said was “full of radicals and terrorist propaganda.”

    The Indonesian Consumers Foundation (YLKI) had urged the communications ministry to block pornographic GIF images accessible via emoticons, complaining that children could easily reach them, according to news website kompas.com. Terms of use for WhatsApp, Tenor and Giphy say users must be 13 years old.

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  • Indonesia’s Blockchain Scene Heats Up

    Indonesia’s Blockchain Scene Heats Up

    Bali’s first-ever blockchain conference happened in the grand ballroom of The Trans Resort Bali, a five-star resort hotel a short drive from Bali’s famous tourist areas of Kuta and Seminyak. It was organized by Black Arrow Conferences, which have also organized successful blockchain conferences in Mumbai, India and Jakarta, Indonesia — together with a local organizing team comprised of Bali-based cryptocurrency afficionados.

    The event was surprisingly large for a small island. Conference sponsorship slots and attendee tickets were completely sold out, filling the room to capacity with 315 registered attendees and 33 partners, supporters and sponsoring organizations and companies from around the world.

    A mix of Indonesian and international companies were in attendance: Bitcoin Indonesia, PundiX, BlockchainZoo, Coindo, Blocktech, BBW, Cybermiles, Genesis Mining, Decent, Emurgo, Cointed, Waves, MiCai, Eximchain, Coinscore and Datum as well as representatives from the Indonesia and Bali Chamber of Commerce and Industry and the National Police Anti-Terrorism Unit Densus 88.

    Bali a Blockchain, Cryptocurrency and Historic

    As we reported here at Bitsonline previously, Indonesia has a thriving trading community and blockchain startup scene.

    Bali is a popular place for blockchain companies looking for a place to temporarily relocate for some focus time on their projects, while also enjoying the lush beauty in the hills of Bali near the town of Ubud. Companies like Consensys, Changetip, Satoshipay and personalities well-known to many in the community — such as Joel Dietz, Toni Lane Casserly and Andreas Antonopoulos — have all spent quality time here.

    Ubud is also a favorite of Sir Richard Branson, who once toyed with the idea of buying a villa not far from town. In decades past, Charlie Chaplin, Buckminster Fuller and others have come to rest and recover, and to test new ideas that they would bring back to the world.

    Blockchain Companies Work Together to Strengthen the Industry in Indonesia

    Bitcoin Indonesia, the country’s largest exchange, boasts 550,000 registered members, and is developing an international focus. Its representatives meet with regulators often, in order to keep abreast of changing opinions within the bank, which have the effect of being treated as law.

    Just last week, Bitsonline reported that the Bank of Indonesia is forbidding payments platform providers from using cryptocurrency. However any service which converts currencies from bitcoin to Indonesian rupiah — for the purpose of completing a transaction — is exactly the same thing as a purchase with a foreign credit card in Indonesia.

    This resulted in Bitcoin Indonesia closing its popular cryptocurrency payment platforms TokoBitcoin.com and Bitbayar.com.

    Companies Already Building Legal Workarounds

    However, companies are already developing legal workarounds (don’t you just love blockchain?). PundiX CEO Zac Cheah demonstrated cryptocurrency exchange POS devices which complete a bitcoin conversion — which is legal — before the customer makes and settles payment in Indonesian Rupiah.

    The heads of the Indonesian and Bali Chambers of Commerce and Industry attended, and showed their support in working with blockchain companies in Indonesia to find a regulatory solution that would allow the industry to continue to grow.

    A representative from the Densus 88 Special Forces Anti-Terrorism Unit in charge of ending terrorist financing, presented the American version of anti-money laundering and anti-terrorist financing regulations. However he admitted there was only one known case of terrorism financing using cryptocurrencies that he was aware of — without going into details.

    BlockBali Conference Will Become an Annual Event

    Bitsonline interviewed speaker Roberto Capodieci, CEO of Blockchain Zoo — which is about to open a Blockchain Center in the town of Ubud. He told us:

    “Crypto in paradise! The god’s island of Bali, home to thousands of digital nomads, and my home since 2004, is indeed the right place to hold this kind of conference. Not only is there already a large audience on the island, but it makes a great reason for international experts to participate and extend their stay for a day or two and enjoy a short tropical holiday! Furthermore, BlockBali was organized in an excellent manner, had several key people from the industry to present, and a variety of topics to keep the audience constantly attentive and interested. I really look forward to more conferences like this one.”

    Sarfraz Patel, CEO of Blackarrow Conferences, was similarly optimistic for a future conference:

    “The success of BlockBali has been outstanding. A great turnout of 300+ people from 31 countries. This being our second conference in Indonesia, we have seen a 50 percent growth in attendance and we can clearly see the Indonesian community rising up to blockchain and cryptocurrency. This definitely paves the way for much bigger and better conferences in the future.”

     

    credits: Bitsonline

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  • Lazada Online Revolution offering 210 million items

    Lazada Online Revolution offering 210 million items

    In its sixth year, the Lazada Online Revolution mega-sale will be the biggest yet when it takes off on November 11 across six countries – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

    Themed “Shop the Universe”, the sale will offer 210 million products, up sevenfold from last year, and has expanded its product categories to include fashion, luxury cosmetics, groceries, pet supplies and digital goods such as e-vouchers and prepaid mobile-phone top-ups. International brands include Huawei, Laneige, Levi’s, Mac, Ray-Ban, Shiseido and Triumph.

    There will be about 26 million deals offering discounts of up to 90 per cent, including items from the Taobao Collection, which offers kitchenware, furnishings, fashion apparel and accessories.

    Shoppers in Southeast Asia ordered about two million items within the first 24 hours of last year’s Online Revolution 2016. Among the top sellers were VR glasses, smartphones, shower gels and mascaras.

    As well as its own 130 delivery centres across the six countries, Lazada will work with more than 80 delivery companies to handle demand during the sale.

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  • Telekom Malaysia signs backhaul deal with edotco

    Telekom Malaysia signs backhaul deal with edotco

    Telekom Malaysia has entered an agreement with regional infrastructure services company edotco aimed at providing backhaul services for Malaysian mobile operators’ LTE deployments.

    Under the partnership, Telekom Malayia will provide its next-generation backhaul (NGBH) services for connectivity between operators’ cell sites and their core network at edotco’s ground-based tower sites in selected areas.

    The two companies will also explore opportunities to provide common infrastructure via smart centralized radio access network (smart CRAN) services to allow operators to expand their coverage footprints.

    Malaysia-based edotco provides end-to-end tower services ranging from tower leasing, co-location, build-to-suit, energy, transmission and operation and maintenance. The company operates in Malaysia, Sri Lanka, Bangladesh, Cambodia, Pakistan and Myanmar, and has a portfolio of over 26,000 towers across these markets.

    “Telekom Malaysia is proud to be given the opportunity to fulfill our role as the strategic partner in the country’s economic development. This partnership allows us to share and converge our capabilities towards accelerating Malaysia to be digitally connected,” Telekom Malasia group CEO Dato’ Sri Mohammed Shazalli Ramly said.

    “Telekom Malaysia is also committed to support the Government’s aspiration in providing better broadband access to Malaysians nationwide and further embrace smart solutions by offering next generation services.”

    The collaboration is subject to the signing of a definitive agreement that is expected to be finalized within the next six months.

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  • Fintech Firm TrueMoney Reaches 13,500 Customer Service Points in Indonesia

    Fintech Firm TrueMoney Reaches 13,500 Customer Service Points in Indonesia

    PT Witami Tunai Mandiri, the Indonesian operations of Southeast Asian fintech firm TrueMoney, has reached 13,500 Indonesia customer service points. Through these agent-managed service points TrueMoney provides a suite of e-money solutions, including depositing and withdrawing cash, paying for online purchases, and domestic fund transfers, which are fully compliant with Indonesian central bank regulations.

    TrueMoney is now one of the largest non-bank e-money providers, and the first non-bank fintech firms to hold a remittance license as well as a Shariah-complaint e-money license, critical for reaching a large percentage of Indonesian consumers.

    Alfamart, one of Indonesia’s largest convenience store operators, is TrueMoney’s latest partner, bringing its 13,168 outlets onto TrueMoney’s agent network. With TrueMoney’s suite of e-money solutions, Alfamart’s customers – many of which have no bank account or credit/debit card – can use digital financial services – pay, purchase, and transfer – that they may otherwise have no access to.

    Nussy Aryanto, President of TrueMoney Indonesia said, “Far too many of Indonesia’s people have no, or very limited access to financial services. By being mobile first and working with a number of partners such as Alfamart, we are able to offer access, convenience and completely new financial products to this large population. Our mission is to bring basic financial services to every single Indonesian.”

    According to the International Finance Corporation about 20%-25% of Indonesia’s 255 million population has a bank account, but there are around 325 million mobile subscriptions. With 85% of the population owning a mobile phone, about half are smartphones. This means digital services, including digital financial solutions, can reach a much larger segment of the population if delivered, at least in part, through mobile devices.

    Hans Prawira, President of Alfamart said, “We have millions of customers across Indonesia, especially outside of major cities. We are always trying to serve their needs, and our partnership with TrueMoney will bring a whole new set of products and services that will improve our customers’ lives. It will now be much easier and cheaper for them to send and receive funds from relatives, using cash at our outlets; their lives will be changed.”

    Marketing Magazine recently awarded TrueMoney Indonesia “The Best Innovation in Marketing” for it efforts at building an agent network of roadside shops and grocery stores to provide financial services across Indonesia.

    TrueMoney provides a number of e-payment services across Southeast Asia, including TrueMoney Wallet, WeCard (with MasterCard), TrueMoney Cash Card, Kiosk, Express, Payment Gateway, and Remittance. It also provides cash-in and cash-out services, which will be especially useful in Indonesia where a large number of the population is unbanked or underserved by banking and financial institutions. They can do this at any of TrueMoney’s 13,500 agent locations in ten provinces.

    Today, TrueMoney Indonesia introduced its newest service TrueMoney Remittance, with Alphamart as the service provider. TrueMoney Remittance is a cash-to-cash service which allows customers to send and withdraw cash from any of Alphamart’s 13,168 stores.

    TrueMoney launched its operations in Indonesia in June 2016. The partnership with Alfamart follows a number of important partnerships across Indonesia, including Samsung. TrueMoney is a subsidiary of Thailand-based Ascend Money, one of the largest fintech companies in Southeast Asia with over 20 million customers. Ascend Money is backed by Thailand’s CP Group and has recently secured a 20% investment by ANT Financial Services Group, operator of China’s most popular e-wallet Alipay.

  • AirAsia announces flights from Manila to Bali, Jakarta

    AirAsia announces flights from Manila to Bali, Jakarta

    Budget carrier AirAsia on Thursday announced it will start servicing flights from Manila to Bali and Jakarta in Indonesia starting January 2018.

    In a statement, AirAsia Philippines said it will start flying from Manila to Jakarta, Indonesia starting January 9, and to Bali, Indonesia starting January 19.

    Daily flights from Manila to Bali will have a departure time of 6:40 p.m., and an arrival time of 10:25 p.m. Flights back to the Philippines leave Bali at 11:20 p.m.

    Meanwhile, flights from Manila to Jakarta will have a departure time of 8:00 a.m, and an arrival time of 11:00 a.m. Flights back to the Philippines leave Jakarta at 11:30 a.m.

    In the same statement, AirAsia said it will also start flying to Ho Chi Minh in Vietnam starting November 17.

    Flights from Manila to Ho Chi Minh will have a departure time of 10:25 p.m. every Tuesday, Friday, and Sunday. Flights back to Manila leave Ho Chi Minh at 1:35 a.m. every Monday, Wednesday, and Saturday.

    With the new routes, AirAsia also on Thursday announced all-in promo fares available from P2,950 available until October 22, with a travel period from November 17, 2017 to April 30, 2018.

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  • PT Telkom adopts Palo Alto firewalls

    PT Telkom adopts Palo Alto firewalls

    Indonesia’s PT Telkom has moved to strengthen its security capabilities by adopting Palo Alto Networks’ next-generation firewalls.

    The operator will deploy Palo Alto’s Next Generation Security Platform for its security operations center to support its global expansion plans. Telkom aims to become one of the five largest telecoms operators in Southeast Asia.

    Telkom has replaced its legacy firewall systems with eight Palo Alto firewalls, as well as its network security management solution Panorama and its contextual threat intelligence service AutoFocus.

    Panorama provides  static rules and dynamic security updates to simplify the management of a changing threat landscape.

    “Palo Alto Networks has enabled us to take our security operations to a higher level. I now have complete visibility of threats, the team has become more skilled, and we’re better able to focus on the development of new services,” Telkom Indonesia VP of IT strategy and governance Sihmirmo Adi said.

    He said the operator expects the platform to help it save billions of rupiahs in future capex and spend significantly less time managing its network.

  • Telkomsel wins 2.3-GHz spectrum auction

    Telkomsel wins 2.3-GHz spectrum auction

    Indonesian state-owned mobile operator Telkomsel has emerged as the winner of an auction for 30 MHz of 2.3-GHz spectrum with a bid of 1 trillion rupiah ($73.9 million).

    The company beat out four other operators, including XL Axiata and Indosat, to secure the spectrum.

    Telkomsel will need to pay an upfront fee of double its bidding price – 2 trillion rupiah – within 10 days as well as an annual license fee.

    With the acquisition of the additional spectrum Telkomsel is expected to be in a position to expand its network capacity by 30%, the report states.

    Telkomsel is Indonesia’s dominant mobile operator with 178 million subscribers and 150,000 base stations across the nation. It is the mobile subsidiary of state-owned operator PT Telkom.

    Under government regulations Telkomsel will now be unable to bid during the next spectrum auction, scheduled to commence next week.  Indosat, XL Axiata and Hutchison 3 Indonesia are expected to participate in the auction for two blocks of 2.1-GHz spectrum.

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  • AirAsia now connects Bali and Kolkata

    AirAsia now connects Bali and Kolkata

    AirAsia Indonesia inaugurated its new flight route from Bali to Kolkata in India on Oct. 4.

    The service offers four flights a day departing from I Gusti Ngurah Rai International Airport in Bali and arrives at Kolkata’s Netaji Subhas Chandra Bose.

    Upon landing, the maiden flight, which used an Airbus A320-200 airplane, was greeted with a water canon at the airport in Bali.

    According to AirAsia Group CEO for Indonesia Dendy Kurniawan, the ticket sales for this route was first made available on Aug. 17 in accordance to the 72nd anniversary celebration of Indonesia’s Independence Day.

    “We want to emphasize that this expansion is only possible due to the hard work of the Transportation Ministry. We are currently in the first category of the FAA safety rank and we really appreciate it,” said Dendy.

    Following the launch of the new service, AirAsia now offers two routes to India as it previously launched Bali – Mumbai flight in May.

    This also marks the fourth international route from AirAsia Indonesia after Bali – Narita, Bali – Mumbai and Jakarta – Macau.

    The travel time between Bali from Kolkata is 7.5 hours including a short transit in Kuala Lumpur, Malaysia.

    India has the second highest growth percentage for the number of tourists to Indonesia with 27 percent per year, right behind China with 45 percent per year.

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  • Permata Bank adopts voice biometric authentication

    Permata Bank adopts voice biometric authentication

    Permata Bank has become the first domestic bank in Indonesia to introduce voice biometrics as part of its customer authentication protocol, using technology from customer experience company NICE.

    NICE Real-Time Authentication (RTA), together with its process automation solution, will allow the financial institution to conduct secure and seamless voice authentication, improving customer service.

    Permata Bank is a veteran NICE customer, already benefiting from its Quality and Workforce Management solutions, as well as real-time back office applications. More recently, the bank sought new ways to improve fraud prevention and increase the efficiency of its contact center, turning to NICE to address these challenges.

    NICE’s Real-Time Authentication (RTA) solution creates and utilizes one voice print for each caller to deliver quick and efficient customer service across all voice channels, with no customer effort required.

    Authentication takes place within the first few seconds of the call, and customers’ issues are resolved during the natural flow of conversation. This automated, rapid and transparent process will help Permata Bank deliver better service while improving the accuracy of its fraud prevention program.

    “Permata Bank’s introduction of voice biometrics in the local banking industry positions us as a leader in financial services innovation throughout Indonesia,” Permata Bank director of consumer banking Bianto Surodjo said.

    “This is largely thanks to NICE’s unique Fluent engine capability, which provides omnichannel authentication with a single voiceprint, which is a major advantage over competing solutions in the market.”

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  • Xiaomi plans Indonesia-based business

    Xiaomi plans Indonesia-based business

    Xiaomi has announced plans to set up a permanent business entity in Indonesia. Indonesia is pushing for foreign firms that have internet-based services there to set up local companies for the purpose of tax compliance.

    Speaking at the Xiaomi Way of Innovation event in Jakarta, CEO/founder Lei Jun said Indonesia was the company’s “most important” market after China and India.

    International Data Corporation (IDC) data for the first quarter of this year ranked Xiaomi, which entered the smartphone market in 2010, the fifth-largest smartphone manufacturer in the world. It has a presence in more than 60 countries and last month shipped a record 10 million smartphones, thanks to growing demand in India.

    Lei said Xiaomi was mostly known in Indonesia as a smartphone manufacturer, but he wanted to change that by taking more of the firm’s products mainstream. Xiaomi was also an internet and e-commerce company, he said.

    He referred to the company’s business model as a “golden triangle” as it was propped up by three key elements: hardware, internet and retail.

    Xiaomi’s products include robot vacuum cleaners, rice cookers, washing machines, scooters, toys and desk lamps.
    “Hopefully in the future Xiaomi’s ecosystem of products can deliver a great impact on Indonesian users and producers.”

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  • Aeon Indonesia shifts focus to entertainment

    Aeon Indonesia shifts focus to entertainment

    Aeon Indonesia is putting the accent on entertainment in its new mall, Jakarta Garden City.

    About an hour’s drive east from the city centre, it is the Japanese retailer’s second location after two years in Indonesia.

    Jakarta Garden City devotes relatively little space to traditional retail like clothing (H&M and Uniqlo will not be found there). Instead, it focuses on interactive experiences, and more than half of its 227 tenants are foodcourt stalls or restaurants.

    It also house Indonesia’s first skating rink to meet international standards, a movie complex and Fanpekka, a Scandinavian-style educational center for children. On the roof is one of the country’s largest Ferris wheels.

    Aeon is marketing Jakarta Garden City as Indonesia’s largest entertainment mall.

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  • Polygamy dating app draws criticism in Indonesia

    Polygamy dating app draws criticism in Indonesia

    A Tinder-style dating app for polygamists has sparked controversy in Indonesia, the world’s most populous Muslim nation — but its developer says he “just wants to help” unmarried middle-aged women.

    Indonesian law defines marriage as between a man and a woman but polygamy is tolerated in certain circumstances, despite being generally frowned upon. Ayo  Poligami, loosely translated as “let’s go polygamy”, is a free smartphone app that matches married and single Muslim men with women who want to create “big families”.

    It has attracted more than 56,000 members since its launch in April, according to developer Lindu Cipta Pranayama.

    But women’s rights campaigners have criticised the app, warning of a strong link between polygamy and domestic violence.

    “Due to the controversy, I initially wanted to permanently shut down the site, but when I saw many women in their 40s of 50s who are still virgins and unmarried I decided to keep it,” Pranayama told Tuesday.

    “Can you image being in your 40s or 50s but never been touched by a man?” added the 35-year-old, who created the app after failing to find a wife on several dating sites.

    Indonesian men who apply to one of the country’s Islamic courts, which have jurisdiction over marriage, are able to take a second wife under certain circumstances.

    For example, a court may review and grant an application if the man’s first wife is unable to bear children or has a disability and gives her permission.

    Adriana Venny Aryani, from Indonesia’s National Commission on Violence Against Women, said polygamy as facilitated by Ayo Poligami could be harmful to wives.

    “When the husband is practicing polygamy, women are emotionally abused, economically (abused), and sometimes violently,” she said.

    Pranayama said a high number of fake accounts had caused the platform to temporarily close, but a new version is set to launch on Thursday with more stringent user criteria.

    Indonesian authorities recently shut down another controversial matchmaking site, Nikahsirri.com, which offered “virgin auctions” for men and women looking for marriage.

    Police arrested the founder of the short-lived site, Aris Wahyudi, over the “pornographic content” it contained.

  • Indonesia’s Inflation Eased in September to 3.72%, Weighed by Food Prices

    Indonesia’s Inflation Eased in September to 3.72%, Weighed by Food Prices

    Inflation in Indonesia continued to ease in September as some basic food commodity prices dropped, suggesting full-year inflation will be limited despite a pick up in the first few months of the year.

    September’s consumer price index, a gauge of inflation, rose 3.72% compared with the same period a year ago, slowing from August’s 3.82% rise, the official Statistics Agency said Monday. Compared the month before, prices rose 0.13%, after falling 0.07% in August.

    The median forecast from a survey of 10 economists by The Wall Street Journal was for 3.70% year-over-year inflation. The median prediction for on-month inflation from seven economists polled was 0.10%.

    Inflation was stoked by a 1.03% increase in education costs in September, compared with August. But a 0.53% fall in basic food prices mitigated the impact on headline inflation, the agency added.

    Core inflation, which excludes volatile food prices and those determined by the government, picked up to 3.00% compared with a year ago, August’s 2.98%, the first increase in many months, which may indicate an early recovery in consumers’ purchasing power.

    Although inflation is likely to continue retreating for the rest of the year, Bank Indonesia isn’t expected to cut interest rates again next month, after two consecutive 0.25-percentage-point cuts recently.

     

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