As the central bank’s restriction on credit card ownership comes into effect on Jan. 1, domestic banks are bracing for less business from potential new customers. Steve Marta, general manager of the Indonesia Credit Card Association (AKKI), said the number of credit cards in circulation next year will grow by just 5 percent, compared with Read more
Honeywell (NYSE: HON) today announced that it has appointed Alex Pollack president of Honeywell Indonesia. In this new role, Pollack will be responsible for advancing Honeywell’s technology leadership and business outcomes with multiple constituencies, including government and public agencies. He will also be responsible for driving growth initiatives across the company, including expanding into new Read more
Indonesia plans to impose a tax on companies borrowing money from overseas, as part of an effort to control the private sector’s foreign debt, Bisnis Indonesia reported on Wednesday, quoting a high level official at the finance ministry. Bambang Brodjonegoro, head of the ministry’s fiscal policy unit, said the finance ministry will coordinate with the Read more
Bumi Resources Minerals (BRMS), a multi-minerals mining arm of the Bakrie Group, reported a net loss in the first nine months of this year due to temporary decline in its Batu Hijau copper and gold mine. BRMS reported a $13.2 million in net loss in January-September, a swing after booking nearly $68 million in net Read more
Commodity exchange traded funds have been a boon to individual investors because they give exposure to certain areas of the market that were once hard to reach. These ETFs are also one of the best ways an investor can diversify their portfolio. Up until a few years ago, the average individual investor could not invest Read more
NEW DELHI: Retail prices of essential food commodities like wheat, rice, sugar, pulses and edible oil have witnessed an upward trend since January this year, Parliament was informed today. “The monthly average retail prices from January, 2012 onwards show an upward trend in the case of rice, wheat, pulses, edible oils, sugar and vegetables,” Food Read more
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