Indonesia's Top 5 Richest Government Officials

A number of high-ranking government officials in Indonesia have submitted their assets report through The Public Official Asset Declaration (LHKPN) for 2022. On the corruption eradication commission's official website wealth and assets of various government officials from ministers to regional heads are worth billions and trillions of rupiah.

Indonesian Minister of Tourism and Creative Economy Sandiaga Uno is among the richest minister in Indonesia. With a total reported asset worth Rp10,99 trillion. Minister Uno's assets in 2022, went up about Rp300 billion, in comparison to 2021, which was at Rp10,61 trillion.

Minister Uno is an entrepreneur as well, who founded a company called PT Saratoga Investama Sedaya, which cemented his name as Indonesia's leading entrepreneur. His name began to be taken into account. After going back and forth in the list of the country's richest people.

Next, Karawang's Regional Head Aep Syaepuloh has a net worth of about Rp400,8 billion. Syaepuloh is also an entrepreneur that got into politics. In 2007, he founded a company called Bintang Jaya Pratama, a company that works within the contractor industry and is often involved in big projects, such as the Jakarta-Cikampek elevated toll road. He also owns a business in the heavy machinery sector.

Syaepuloh was also Commissioner of Swastika Tunggal Indonesia and Director of Tri Panca Indonesia previously. 

Moreover, Manado's Governor Andrei Anguow is amongst the richest regional governments in Indonesia. Anguow was once head of commission 3 of the people's representative council in North Sulawesi and was Head of The North Sulawesi Province's representative council from 2016 to 2020. His assets are allegedly even higher than that of North Sulawesi's Governor Olly Dondokambey. 

Moreover, Palu's Governor Hadianto Rasyid has a total asset worth Rp266,80 billion. Rasyid is recorded to own 33 lands and buildings spread across Palu, Donggala, Sigi, and Tangerang. Besides his political career, Rasyid is also an entrepreneur at a private company, his assets also went up in 2021. 

The next regional head that is amongst the richest in Indonesia, is Makassar's Governor Mohammad Ramdhan Pomanto, he has a total asset worth Rp212,3 billion, based on the report made through the public official asset declaration for 2022. 

Whilst still under a verification process. Pomanto's assets can also be seen to increase from 2021, in the amount of Rp204,5 billion.

IDR349 Trillion Suspicious Transactions Surrounding RI Finance Ministry

Indonesia's Minister of Finance, Sri Mulyani, revealed two individuals that may be involved in the 349 trillion of suspicious transactions, surrounding The Ministry of Finance. 

Minister Sri Mulyani said, that her revelations were based on the reports filed by the Indonesian Financial Transaction Reports and Analysis Centre (PPATK).

The first individual reportedly tied to the suspicious transaction, is a person with initials DY. A tax report filed by DY claimed they only had Rp38 billion, in assets but the PPATK report revealed that DY made transactions valued Rp8 trillion.

The other individual, is a person with initials SB.

According to tax reports from 2017 to 2019, SB owns shares in the BSI company, valued at Rp11,56 trillion. But according to the PPATK report, SB's actually had shares valued Rp11,77 trillion.

Indonesia's Finance Minister confirmed that SB had shares in the BSI company. She also said that if there is concrete evidence, then the company has to pay their dues and pay all of the necessary fines.

Debate on How Coffee Affects Heart Performance

Coffee lovers and doctors have long wondered whether a jolt of Java can affect the heart. New research published finds that drinking caffeinated coffee did not significantly, affect one kind of heart hiccup.

Coffee has been associated with multiple health benefits and even a lower risk of dying. Based on large studies, that observed participants’ behavior.

Research has shown, moderate coffee consumption doesn’t raise the risk of heart rhythm problems. 

But it did signal a slight increase in another type of irregular heartbeat in people who drank, more than one cup per day. And it was found that people tend to walk more and sleep less on the days they drank coffee.

Chinese Construction Machinery Exports Building Momentum

Chinee enterprises are seizing a window of opportunity to export construction machinery.

Industry watchers say, China's infrastructure market and cutting-edge technologies have paved the way for strong exports.

Powel: Path to 2% Inflation Likely Be 'Bumpy'

The federal reserve extended its year-long fight against high inflation on Wednesday (22/3/2023), by raising its key interest rate by a quarter-point, despite concerns that higher borrowing rates could worsen. The turmoil that has gripped the banking system. 

Speaking at a news conference Wednesday, Fed Chair Jerome Powell said, the process of getting inflation back down to 2% has a long way to go and is likely to be bumpy. 

The Fed is deciding in effect, to treat inflation and financial turmoil as distinct problems. To be managed simultaneously by separate tools. Such as higher rates to tame inflation and greater fed lending to banks to calm financial turmoil. 

Domestic Products Hampered By Imported Used Clothes

President Joko Widodo has instructed the enforcement of the import ban on used clothing, as it threatens Indonesia's domestic textile industry and micro small to medium-sized businesses or msmes. So what are the strategies that are being implemented, to eradicate the smuggling of used clothes and thrifting in the country? Let's take a look.

The practice of buying and selling imported used clothing is still a phenomenon so far. Not only is the price cheap and affordable, sometimes even tucked into branded goods, which makes people very interested in buying it.

Actually, the prohibition of imported used clothing already exists, namely through Permendag number 40 of 2022 concerning amendments to the regulation of the minister of trade number 18 of 2021 concerning goods prohibited from export and goods prohibited from import.

However, the sale of imported used clothing is everywhere. Not only in Jakarta, which is located in the mall and in the city of Bandung, the location of the sale of used imported clothes is in The Gede Bage Cimol Market and The Candle Market in Astana Anyar. Even, to meet the high consumer demand not infrequently imported used clothing is made like a shock market.

Indonesia, has a very large water area and many rat harbors so that it can facilitate various smuggling crimes. Various efforts are now being made. One of which is by carrying out destruction as an effort of law enforcement and consumer protection.

Fed Hikes US Interest Rates By 25 bps

The federal open market committee of the US Federal Reserve, announced on Wednesday (22/3/2023), that it would raise the target range of the federal funds rate by 25 basis points to between 4.75 and 5%, the highest level since October 2007. It marks the ninth consecutive rate increase since March 2022.

At a news conference on Wednesday, federal reserve chair, Jerome Powell said, efforts have been made to bring inflation down to 2% over time.

The process of getting inflation back down to 2% has a long way to go and is likely to be bumpy.

The central bank leader said rate cuts are not in base case for the remainder of 2023.

The US Dollar fell noticeably in late trading on Wednesday, as market participants digested the federal reserve's latest decision on rates.