The fall of Bitcoin price was influenced by issue from the main of central bank organization in the world who warned of the use of Bitcoin. The central bank stated that cryptocurrencies such as Bitcoin would become increasingly useless in the future. The doubt of the central bank refered to the fact that the value of Bitcoin in a month had reached its lowest point at US $ 6,255 or Rp 84 million on June 13, 2018. It was its duty to release a statement as a warning to the public.

Bitcoin and some other kinds of digital money are cryptocurrencies that are not measurable at all. Even if more and more people use cryptocurrency, it will increase the risk of disturbance of trust and efficiency.

Cryptocurrency is a technology that uses the currency digitally. This technology uses cryptography for security so that this type of currency can not be copied. The value of a cryptocurrency is largely determined by the power of buy and sell of this technology users.

Considered as a breakthrough of financial technology, a various of cryptocurrencies are developed by various companies and engineers team in some parts of the world. Even Google Ventures also invests in one of cryptocurrency technology. Until now, more than 500 cryptocurrencies have been created with innovative concepts.

One of the weaknesses of cryptocurrency is its value basically based on the power of buy and sell so it is not guaranteed by anything. Because of these conditions the value of a cryptocurrency often drops more than 20% in just one day.

Always Use Critical Sense

The weakening sign of the value of cryptourrency have increased in a week. The Bank of International Settlements (BIS), the main of global central banks that has a headquarter in Swiss, needed to make an anticipate step, even it is only a warning. BIS stated the latest warning that Bitcoin would be increasingly useless in the future.

Furthermore, BIS revealed that cryptocurrency that actually only exist in the digital network is using a great trust to maintain the stability of its value and capability. The situation that only depends on the belief in the cryptocurrency could disappear instantly if the decentralized network in every digital currency is fragile.

As more and more people are optimistic about or use cryptocurrency, decentralized networks are more easy to stuck. Except of that, BIS is also worried to see another potential risk which is the high transaction costs per second, especially for Bitcoin. Those were Some of the facts that make BIS could not just be silent. The facts were potentially harming the society. “Trust can evaporate at any time because of the fragility of the decentralised consensus through which transactions are recorded, and that cryptocurrency is also able to stop functioning one day and will make it lose value,” Said BIS in its statement in Reuters.

Source: Antara, Reuters

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post Cryptocurrency, Not Always Safe Investment appeared first on INESIA.

“Recently ponpes has taken a part in encouraging the economic growth, because many of them which have built the cooperatives, develop the various business units, both small and medium scale, and also, have business incubators,” said Minister of Industry Airlangga Hartarto.

Ministry of Industry has intensively carrying out the activities of developing of new industrial entrepreneurs and the development of industrial units in the pesantren. It was called the Santripreneur program. “Almost 70 percent of Indonesian businessmen are in MSME sector. This is a quite strong asset to face the industrial revolution 4.0,” said Airlangga.

Airlangga added that ponpes had great potential to create new entrepreneurs and grow the small and medium industries. “This is certainly a gift from God that we should be grateful for. Our potential is very large that supported by a lot of campuses and pesantrens in Indonesia which is not exist in other countries in the world,” he added.

Based on data from the Ministry of Religious Affairs, during the year 2014-2015, in Indonesia there were 28,961 ponpes spread all of the province which had santri of more than 4 million people. From the total of ponpes, 23,331 ponpes or 80 percent of them were in 4 provinces, which were West Java, East Java, Central Java and Banten.

Minister of industry optimistically said that with the development of the digital era today, the students could be a strategic change agent in building the nation and the Indonesian economy in the future. For that reason, Indonesian santri must study seriously in science, both religion and entrepreneurship. They, the majority of millenial generation, also need to understand the latest technology.

Moreover, in the next 10 years, Indonesia would havethe demographic or momentum bonus when the population was dominated by productive age (ages 15-64 had reached 70 percent). Currently Indonesia’s economy is ranked 16th in the world. We believe, according to aspirations in Making Indonesia 4.0, it can be a country that is in the top 10 of the world’s strongest economies by 2030.

Therefore, the ministry of industry was committed to support the development of national Small Medium Industry (IKM) in the era of digital economy, by building an e-commerce platform called e-Smart IKM. The Government have been working with a number of domestic marketplaces to provide IKM e-Smart workshops to several regions in Indonesia, so santri should also take this opportunity.

Until now, there were 1,730 IKM businessmen who have participated in IKM e-Smart workshops. By 2019, The ministry of industry would target to invite up to 10 thousand IKM businessmen in Indonesia to attend the workshop. Government will also build technology centers to improve the acces of IKM to technology acquisitions and provide the mentoring support to encourage the innovation.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post Santripreneur Can Contribute to Indonesian Economy appeared first on INESIA.

Indonesia produced 639,000 tons of coffee beans in 2017 or about 8 percent of world coffee production, with the composition of 72.84 percent is robusta and 27.16 percent of arabica. Indonesia also has various types of specialty coffee that known in the world, including luwak coffee with typical flavor and aroma according to its geographical indications which is the excellence of Indonesia.

Until now there are 22 Geographical Indications for Indonesian Coffee. Starting from Gayo Arabica Coffee, Arabica Toraja Coffee, to the latest are Robusta Pupuan Bali Coffee, Arabica Sumatera Koerintji Coffee, Liberika Tungkal Jambi Coffee, and Liberika Rangsang Meranti Coffee.

“For Temanggung regency, we appreciate the step of Government of Temanggung Regency that already have registered two Geographical Indications Coffee from Temanggung that are Arabica Sindoro-Sumbing Java Coffee and Robusta Temanggung Coffee,” said Airlangga.

He continued, with country’s potential market that is still increasing, the policy development of the coffee processing industry, through the increase of human resources capacity such as baristas, roasters, and coffee testers (cupper). Except of that, the increase of value added of country’s coffee beans, and the improving of the quality of processed coffee which is mainly the roasted coffee through the capability of roasting technology.

One of the efforts to increase human resources was the Ministry of Industry had compiled the Standard of Indonesian National Work Competence (SKKNI) for coffee processing industry on 2017. It is expected that SKKNI can be implemented by national coffee stakeholders in the future.

Furthermore, in accordance to the mandate of Plantation Regulation No. 39 of 2014 on Plantations, a Coffee Council of Indonesia (Dekopi) was established in Yogyakarta on December 9, 2017 and continued with the inauguration of the Dekopi Board on 11 March 2018 for the period of 2018-2022. “These programs are the government’s commitment for the development of national coffee commodities,” said Minister of Industry.

The development of country’s processed coffee industry and specialty coffee is still very good, considering the average of Indonesian’s coffee consumption is 1.1 kg per capita per year. It is far below coffee importing countries such as; US is 4.3 kg, Japan is 3.4 kg, Austria is 7.6 kg, Belgium is 8.0 kg, Norway is 10.6 kg, and Finland is 11.4 kg per capita per year.

The strength of the national coffee processing industry is not only supported by the large domestic market but also the increasing of capability of the national coffee processing industry to export to international markets, especially to developing countries such as Asia, Middle East, and Africa, except of conventional export destinations. “Hopefully in the future, Indonesia can become the main exporter of roasted beans in Asia and (all over) the world,” Airlangga said.

Export Rose 10 Percent

Meanwhile, the national coffee processing industry was able to significantly contribute to the country’s foreign income from export value that reaching 469.4 million US dollars in 2017, up to 10 percent from the previous year. According to Minister of Industry, the positive of the export value of coffee was due to several factors, such as the increased of productivity in the industrial sector and the rising of commodity prices.

Therefore, we intensively boost the competitiveness of the national coffee processing industry, so it can compete in the global arena. Airlangga also said that the Ministry of Industry always supports the promotion of coffee by including coffee in the exhibitions in various countries.

Director General of Agro Industry of Ministry of Industry, Panggah Susanto, said that in order to increase the value of national industry including coffee processing sector in globalization era of trade and free market, it needed strategic efforts to boost its competitiveness and productivity.

Among of the efforts were the using of technology that increase the efficiency and innovation, improving the quality of product through the implementation of the quality of management system and food safety, and the development of product diversification to adjust of the market demand.

“With the country’s potential market that still has developed, the policy of the development of country’s coffee processing industry also needed the increase of human resource (HR) capacity, such as barista, roater, and coffee tester or cupper,” said Panggah.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post Government Committed to Increase Value Added of Indonesian Coffee appeared first on INESIA.

The Ministry of Industry is committed to increase the value added of coffee in Indonesia, which is the fourth biggest coffee producing country in the world after Brazil, Vietnam and Colombia. "We are committed to increasing the value added of coffee through the support of machine, so after roasting and packaging, the coffee can have the value added," said Minister of Industry Airlangga Hartarto.

Indonesia produced 639,000 tons of coffee beans in 2017 or about 8 percent of world coffee production, with the composition of 72.84 percent is robusta and 27.16 percent of arabica. Indonesia also has various types of specialty coffee that known in the world, including luwak coffee with typical flavor and aroma according to its geographical indications which is the excellence of Indonesia.

Until now there are 22 Geographical Indications for Indonesian Coffee. Starting from Gayo Arabica Coffee, Arabica Toraja Coffee, to the latest are Robusta Pupuan Bali Coffee, Arabica Sumatera Koerintji Coffee, Liberika Tungkal Jambi Coffee, and Liberika Rangsang Meranti Coffee.

"For Temanggung regency, we appreciate the step of Government of Temanggung Regency that already have registered two Geographical Indications Coffee from Temanggung that are Arabica Sindoro-Sumbing Java Coffee and Robusta Temanggung Coffee," said Airlangga.

He continued, with country’s potential market that is still increasing, the policy development of the coffee processing industry, through the increase of human resources capacity such as baristas, roasters, and coffee testers (cupper). Except of that, the increase of value added of country’s coffee beans, and the improving of the quality of processed coffee which is mainly the roasted coffee through the capability of roasting technology.

One of the efforts to increase human resources was the Ministry of Industry had compiled the Standard of Indonesian National Work Competence (SKKNI) for coffee processing industry on 2017. It is expected that SKKNI can be implemented by national coffee stakeholders in the future.

Furthermore, in accordance to the mandate of Plantation Regulation No. 39 of 2014 on Plantations, a Coffee Council of Indonesia (Dekopi) was established in Yogyakarta on December 9, 2017 and continued with the inauguration of the Dekopi Board on 11 March 2018 for the period of 2018-2022. "These programs are the government’s commitment for the development of national coffee commodities," said Minister of Industry.

The development of country’s processed coffee industry and specialty coffee is still very good, considering the average of Indonesian’s coffee consumption is 1.1 kg per capita per year. It is far below coffee importing countries such as; US is 4.3 kg, Japan is 3.4 kg, Austria is 7.6 kg, Belgium is 8.0 kg, Norway is 10.6 kg, and Finland is 11.4 kg per capita per year.

The strength of the national coffee processing industry is not only supported by the large domestic market but also the increasing of capability of the national coffee processing industry to export to international markets, especially to developing countries such as Asia, Middle East, and Africa, except of conventional export destinations. "Hopefully in the future, Indonesia can become the main exporter of roasted beans in Asia and (all over) the world," Airlangga said.

Export Rose 10 Percent
Meanwhile, the national coffee processing industry was able to significantly contribute to the country’s foreign income from export value that reaching 469.4 million US dollars in 2017, up to 10 percent from the previous year. According to Minister of Industry, the positive of the export value of coffee was due to several factors, such as the increased of productivity in the industrial sector and the rising of commodity prices.

Therefore, we intensively boost the competitiveness of the national coffee processing industry, so it can compete in the global arena. Airlangga also said that the Ministry of Industry always supports the promotion of coffee by including coffee in the exhibitions in various countries.

Director General of Agro Industry of Ministry of Industry, Panggah Susanto, said that in order to increase the value of national industry including coffee processing sector in globalization era of trade and free market, it needed strategic efforts to boost its competitiveness and productivity.

Among of the efforts were the using of technology that increase the efficiency and innovation, improving the quality of product through the implementation of the quality of management system and food safety, and the development of product diversification to adjust of the market demand.

"With the country’s potential market that still has developed, the policy of the development of country’s coffee processing industry also needed the increase of human resource (HR) capacity, such as barista, roater, and coffee tester or cupper," said Panggah.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.
Email : info@investinindonesia.id
Hotline/Whatsapp : +62812-1000-7112
Office : +6221-80674920

The post Government Committed to Increase Value Added of Indonesian Coffee appeared first on INESIA.

Maybe this will be a bad news for those who are optimistic about the development of Bitcoin that in less than a month this cryptocurrency has dropped dramatically to 21%. On June 18, 2018, the price of Bitcoin was traded at US $ 6,443 or Rp 86.9 million. The Data released by Coinbase stated that Bitcoin’s price on May 19, 2018 was US $ 8,536 or Rp 115 million (US $ 1 = Rp 13,500). While on June 18, 2018 the value of Bitcoin was at US $ 6,443 or Rp 86.9 million.

The fall of Bitcoin price was influenced by issue from the main of central bank organization in the world who warned of the use of Bitcoin. The central bank stated that cryptocurrencies such as Bitcoin would become increasingly useless in the future. The doubt of the central bank refered to the fact that the value of Bitcoin in a month had reached its lowest point at US $ 6,255 or Rp 84 million on June 13, 2018. It was its duty to release a statement as a warning to the public.

Bitcoin and some other kinds of digital money are cryptocurrencies that are not measurable at all. Even if more and more people use cryptocurrency, it will increase the risk of disturbance of trust and efficiency.

Cryptocurrency is a technology that uses the currency digitally. This technology uses cryptography for security so that this type of currency can not be copied. The value of a cryptocurrency is largely determined by the power of buy and sell of this technology users.

Considered as a breakthrough of financial technology, a various of cryptocurrencies are developed by various companies and engineers team in some parts of the world. Even Google Ventures also invests in one of cryptocurrency technology. Until now, more than 500 cryptocurrencies have been created with innovative concepts.

One of the weaknesses of cryptocurrency is its value basically based on the power of buy and sell so it is not guaranteed by anything. Because of these conditions the value of a cryptocurrency often drops more than 20% in just one day.

Always Use Critical Sense
The weakening sign of the value of cryptourrency have increased in a week. The Bank of International Settlements (BIS), the main of global central banks that has a headquarter in Swiss, needed to make an anticipate step, even it is only a warning. BIS stated the latest warning that Bitcoin would be increasingly useless in the future.

Furthermore, BIS revealed that cryptocurrency that actually only exist in the digital network is using a great trust to maintain the stability of its value and capability. The situation that only depends on the belief in the cryptocurrency could disappear instantly if the decentralized network in every digital currency is fragile.

As more and more people are optimistic about or use cryptocurrency, decentralized networks are more easy to stuck. Except of that, BIS is also worried to see another potential risk which is the high transaction costs per second, especially for Bitcoin. Those were Some of the facts that make BIS could not just be silent. The facts were potentially harming the society. “Trust can evaporate at any time because of the fragility of the decentralised consensus through which transactions are recorded, and that cryptocurrency is also able to stop functioning one day and will make it lose value," Said BIS in its statement in Reuters.

Source: Antara, Reuters

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.
Email : info@investinindonesia.id
Hotline/Whatsapp : +62812-1000-7112
Office : +6221-80674920

The post Cryptocurrency, Not Always Safe Investment appeared first on INESIA.

Indonesia need its own accommodation in Saudi Arabia that can be used for hajj pilgrimage and umrah pilgrimage, moreover Indonesia have the most pilgrimages in the world.

"Indonesia as a country with the majority of the most Muslim population in the world and recently also have the largest quota of pilgrimage, should have national pride because Indonesian Government can provide benefit for pilgrimages and also lift the pride of the nation," Said member of commission VIII, Achmad Mustaqim. According to him, by owning self accommodation it will make the pride of Indonesian nation that have the most Muslim population in the world.

The PPP politician also warned that Umrah pilgrimage last year were already more than 1 million people (excluding Hajj pilgrimage), so that the asset of accommodation would also give benefit for the Hajj Financial Management Board (BPKH).

These benefit, he added, could eventually be used to subsidize the pilgrimage so it can make affordable cost for people who want to go to the Holy Land, as the increase of living cost in Indonesia. The Vice President Jusuf Kalla said investment of pilgrimage in Saudi Arabia will be profitable, and pilgrimages from Indonesia can get the benefit.

"Because the development of Hajj pilgrimages are getting higher and the development of umrah pilgrimages are almost a million a year, so if Indonesian Government, through the Hajj Financial Management Board (BPKH), decide to invest in Saudi Arabia it will be profitable because it can be used within a year," Said Vice President.

The Vice President explained the plan of Indonesian Government investment in Saudi Arabia can be used for pilgrimage’s accomodation. It used to be the using of the accommodation in Mecca only took three months during the Hajj and Umrah pilgrimage, then with the investment it will make the Indonesia pilgrimage use the facility for one year.

Previously, several members of the House of Representatives emphasized the increase of Pilgrimage Operation Cost (BPIH), should be accompanied with the increased of the service of the organizer. "The service should be a top priority, so the increase will be an encouragement to equally increase the quality of pilgrimage process, and in the satisfaction rate of pilgrimage will increase," said Member of Commission VIII DPR RI Iqbal Romzi.

According to the PKS politician, the increase of BPIH pilgrimage cost Rp345 thousand compared to last year’s cost is very realistic related to the price increase in Saudi Arabia. Member of the House of Representatives Commission VIII Diah Pitaloka also hope the efficiency on transportation should not impact the services of pilgrimage. "The efficiency will improve the protection and health services especially for weak pilgrimages," said the PDI-P politician.

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.
Email : info@investinindonesia.id
Hotline/Whatsapp : +62812-1000-7112
Office : +6221-80674920

The post Indonesia Pilgrimage Need an Accommodation in Saudi Arabia appeared first on INESIA.