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Bukit Asam, Kereta Api deal on coal transportation 130.1mt

JAKARTA (TheInsiderStories) - State coal miner PT Bukit Asam Tbk (IDX: PTBA) and state railway operator PT Kereta Api Indonesia (KAI) signed an agreement for coal transportation at 130.1 million tonnes (mt) of volume during 2017-2021...

Wimboh, will boost optimism ?

JAKARTA (TheInsiderStories) - After a thorough four-day selection process, the House of Representatives (DPR) finally appointed prominent bureaucrat Wimboh Santoso as the new boss of the Financial Services Authority (OJK) for the period of 2017-2022....

Moody’s withdraws EMP’s B2 rating for lack of sufficient information

Singapore, June 08, 2017 -- Moody's Investors Service has withdrawn the B2 corporate family rating of Energi Mega Persada Tbk (P.T.) (EMP) due to insufficient information. RATINGS RATIONALE Moody's has withdrawn the rating because it believes it has...

ECB keeps key interest rates unchanged

JAKARTA (TheInsiderStories) - The Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged...

Indonesia forex reserve stood at US$124.95 billion in May

JAKARTA (TheInsiderStories) - Indonesia’s foreign exchange (forex) reserve stood at US$124.95 billion as of end-May 2017, higher than the end of April 2017 at US$123.25 billion thanks to foreign exchange earning from tax revenues, oil and...

Wimboh Santoso become new OJK’s Chairman

JAKARTA (TheInsiderStories) - Wimboh Santoso elected as the Chairman of the Board Commissioners of the Financial Services Authority (OJK) for the period of 2017-2022 replacing Muliaman Hadad. Last night, Wimboh defeated Sigit Pramono in the voting process...

Japan’s real GDP growth unexpectedly revised down in Q1; outlook remains moderate

By Harumi Taguchi, principal economist at IHS Markit   Key Points: Japan’s real GDP growth for the first quarter (Q1) of 2017 was revised down to 0.3% quarter to quarter (q/q), or 1.0% q/q annualized, from...

China’s trade balance continues to decline on improved demand for imports from developed markets

By Brian Jackson, China Economist, IHS Markit Key Points: China's merchandise exports grew 8.7% in May, compared to 8.0% in April, according to data from the General Administration of Customs. Modestly faster export growth was...

Indonesian ministers offers billion dollar’s projects to foreign investor

JAKARTA (TheInsiderStories) - Indonesian ministers offers projects with worth of billion dollars to foreign investors followed upgrading rating from Standard & Poor's and other agencies revise the country other performances. During visited the offices of three state-owned...

China Harbor, Sheraton, Sofitel invest US$1 billion in Tanjung Kelayang

JAKARTA (TheInsiderStories) - Tanjung Kelayang Special Economic Zone (SEZ) in Bangka Belitung provicne began flooded by investment worth US$1,06 million (Rp14 trillion) to build of ports, hotels and resorts, the senior official said. Coordinating Minister for...

Fin Min revises the minimum balance supervised by tax office Rp 1 billion

JAKARTA (TheInsiderStories) - Ministry of Finance revised the minimum balance that should be reported by the domestic taxpayers and can be requested by the Directorate General of Tax from Rp200 million to Rp1 billion, it said...

BI’s consumer confidence index stood at 125.9 in May

JAKARTA (TheInsiderStories) - Bank Indonesia's (BI) Consumer Confidence Index (CCI) stood at 125.9 in May--the highest level since June 2000--due to confidence over current economic conditions and an upward trend in expectations, the central bank said on...

Indonesian government optimistic economic growth 5.4 to 6.1% in 2018

JAKARTA (TheInsiderStories) - Indonesian government optimistic the economic growth in 2018 to be stronger driven by strong private investment and export performance, said senior official. The Indonesian government in 2018 is expected to grow in the...

PLN issue bonds, Sukuk Ijarah Rp10 trillion

JAKARTA (TheInsiderStories) - The state-owned power producer PT Perusahaan Listrik Negara (PLN) issue bonds and Sukuk Ijarah with a target of Rp10 trillion (US$757.58 million) to meet the investment needs in development of Indonesia's electricity...

Saratoga set to sell 51% Medco Power’s share

JAKARTA (TheInsiderStories) - Indonesian private equity firm PT Saratoga Investama Sedaya Tbk (IDX: SRTG) has rumored to sell 51 percent share of PT Medco Power Indonesia to investors, several sources said. On Dec. 16, Saratoga acquired...

World Bank : East Asia and the Pacific, Indonesia robust in H1 2017

JAKARTA (TheInsiderStories) - Growth in developing East Asia and Pacific continued to be robust in the first half (H1) of 2017, in line with expectations. A continued modest pickup in growth in the region is...

Kalla, Abe discuss acceleration of Jakarta-Surabaya railway project

JAKARTA (TheInsiderStories) - Indonesian Vice President Jusuf Kalla and Japanese Prime Minister Shinzo Abe discussed accelerating the development of medium-speed railway facilities on the Jakarta-Surabaya route during a bilateral meeting in Tokyo, Antara reported. Kalla said the...

Global Growth Set to Strengthen to 2.7 percent as Outlook Brightens

Commodity Exporters Gradually Recovering from Recent Low Prices WASHINGTON, June 4, 2017— The World Bank forecasts that global economic growth will strengthen to 2.7 percent in 2017 as a pickup in manufacturing and trade, rising...

Indonesia retains top 10 ranking in ATKearney’s 2017 Global Retail Development Index™

Indonesia has retained its top ten ranking in A.T. Kearney’s 2017 Global Retail Development Index (GRDI), released today. Indonesia was ranked 8th in this year’s Index, highlighting the country’s resilient retail sector amidst fierce...

Russian investors eyeing oil projects in Tanjung Api-api

JAKARTA (TheInsiderStories) -Russian investor is eyeing oil projects in Tanjung Api-api SEZ in South Sumatra and prepared to invest up to 10 billion euros (over than Rp100 trillion), said one official. Tanjung Api-api SEZ focus...

Indonesian government issued unguaranteed JPY100 billion

JAKARTA (TheInsiderStories) - Indonesian government issued unguranteed samurai bonds JPY100 billion in May, 31 to finance the deficit 2017's budget, Finance Ministry announced. For the first time Indonesia issued samurai bonds in a public offering format since the...

Government pushes pension funds to invest in infrastructure projects

JAKARTA (TheInsiderStories) - The Indonesian government is pushing more private sector, including pension funds, to involve in the infrastructure sector, by investing in the government’s national strategic infrastructure projects. According to the Financial Services Authority (OJK) rule,...

ENGIE, Electric Vine Industries collaborated on a US$240 million’s energy project in Papua

JAKARTA (TheInsiderStories) -French multinational electric utility company ENGIE and developer of private micro networks Electric Vine Industries (EVI) collaborated on a US$240 million project to provide energy in Papua Island, said the company in a press...

China official PMI shows prices slipping into stagnation once again in May, ending beneficial...

By Brian Jackson, China Economist, IHS Markit Key Points: China's official manufacturing purchasing managers' index (PMI) was unchanged at 51.2 in May, according to a release from the National Bureau of Statistics. The index declined...

Indonesia records inflation of 0.39% in May 2017

JAKARTA (TheInsiderStories)- Indonesia recorded Consumer Price Index (CPI) of 0.39 percent month to month (mtm) in May 2017, driven by the rising of staple food prices ahead of the fasting month or Ramadhan. Data from...