Wednesday, June 19, 2019
JAKARTA (TheInsiderStories) – Indonesian government urged Australia to immediately resolve a legal case for an Montara oil spill that affected societies in East Nusa Tenggara to the coastal areas of Indonesia on August 21, 2009, said government official on Thursday (04/11). Oil spills with a volume of more than 23...
JAKARTA (TheInsiderStories) – Indonesian government has won PT Pasifik Satelit Nusantara (PSN) consortium as the winner of the Government Multifunctional Satellite auction with worth of US$1.5 billion. The Public-Private Partnership projects targeted to launch in 2022. In an official statement released last week, chairperson of the auction committee at the Information, Communication and Technology (ICT)...
JAKARTA (TheInsiderStories) — Today, Indonesia' Anti-graft Commission examine state-owned energy producer PT Pertamina' CEO Nicke Widyawati as a witness for Riau-1 Steam Power Plant corruption case, for suspected Sofyan Basir, the CEO of other state-owned companies, PT Perusahaan Listrik Negara (PLN). The commission' spokesman Febri Diansyah said today' examination was...
US-China Trade Battle Hits Global GDP as Negative for 2-3 Years
JAKARTA (TheInsiderStories) - United States (US) President Donald Trump has escalated the trade war with China by announcing plans to hike the tariff imposed on US$200 billion of Chinese goods from 10 percent to 25 percent starting this Friday (05/10). The president announced the move on Sunday at his twitter...
JAKARTA (TheInsiderStories) – Indonesia targets to become one of the developed countries by 2045 and the economic growth at 7.3 percent at the year, said a minister on Thursday (05/09). The vision makes Indonesia a high-income country with the fifth highest GDP in the world with an average economic...
Consumer Confidence Index Decline in March 2019
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) decided to maintain the benchmark interest rate, BI 7 days reverse repo rate at 6 percent. It is in line with global and domestic economic conditions. Governor of BI Perry Warjiyo explained, some central banks have begun to loosen the macroeconomic policies, but it...
JAKARTA (TheInsiderStories) - The resounding election victory of Prime Minister Narendra Modi’s BJP Party with another large parliamentary majority will provide continuity of macroeconomic policy over the next five years, Rajiv Biswas, Asia Pacific Chief Economist at IHS Markit commenting on the election. "The large parliamentary majority secured by the BJP...
JAKARTA (TheInsiderStories) - The Bakrie Group media, PT Visi Media Asia Tbk (VIVA) will divest its shares by 25 percent maximum in the third quarter of 2019, said the president director on Wednesday (05/29). Anindya Novan Bakrie said, the company’ corporate action will be executed in two schemes, with private placement as one...
JAKARTA (TheInsiderStories) - Economic growth across South-East Asia (SEA) region is expected to moderate to 4.8 percent this year, from 5.3 percent in 2018, amid slowing global trade and escalating US-China trade tensions, according to ICAEW’s latest reported. It said, domestic demand should provide some relief, together with accommodative macro policies, although...
JAKARTA (TheInsiderStories) — Indonesian government and House of Representatives have agreed on 2020’ macro assumptions to decide by the Budget Committee in this month. Next year’ economic growth and currency exchange are set differently than the initial proposal. For 2020, the economic growth set in the range 5.2 to 5.5...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index was closed up 0.29 percent to 6,494.63 on Thursday (04/04), from previous trading had been closed up 0.21 percent to 6,489.78. In the midst of this increasing, there were several companies posted the declining and increasing of stock prices. While, there were corporation...
JAKARTA (TheInsiderStories) - Global fluctuations affected the the Export Benchmark Price (EBP) of mining products for in April. Compared to benchmark price in March, most of the commodities experienced a rise. “The product which experienced an increase namely copper concentrate, manganese concentrate, lead concentrate, zinc concentrate, ilmenite concentrate, nickel and bauxite,”...
JAKARTA (TheInsiderStories) – The Federal Reserves (Fed) maintains a target range for the federal fund level at 2.25-2.5 percent during the March 19-20 meeting, said an official statement on Wednesday (03/20). The central bank maintained its benchmark rate since January of this year. The Federal Open Meeting Committee (FOMC) also...
JAKARTA (TheInsiderStories) – China' industrial production rose only 5.3 percent year-on-year in the February. This was the slowest pace since the same period in 2002 and indicating further weakness in the world's second largest economy. This decline did not followed a 5.7 percent increase in the previous period and the market...
JAKARTA (TheInsiderStories) - Indonesian coal miner, PT Adaro Energy Tbk (IDX: ADRO) prepared capital expenditure up to US$600 million for this year, said the company on Tuesday (03/05). The funds will be used for the company' business development. This year, Adaro targets coal production around 56 million tons (MT) of coal and...
FICO: APAC Banks Still Fear for Next Money Laundering Breach
JAKARTA (TheInsiderStories) – Following the recent Asian money laundering scandal, there were around 91 percent of Asia-Pacific (APAC) banks thinking that the industry is still at risk of accidentally facilitating subsequent money laundering scandals, told FICO in the recent survey today (02/27). Based on the reports, most of respondents (62...
Indonesia’s Economic Shrank at 0.52% in 1Q 2019
JAKARTA (TheInsiderStories) — Can’t cope up with the trade balance issue, Indonesia suffered trade balance deficit for US$190 million, during January to March. Oil and gas continuously contributed the deficit by $1.34 billion. While non-oil and gas has $1.15 billion surplus. However, in the monthly calculation, Indonesia has another trade...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) on Tuesday's trading (4/23) closed up 0.75 percent or 48.08 points at 6,462.82 from Monday's trade (4/22) which closed down 1.42 percent or 92.48 points to 6,414.74. Top Gainers Yesterday, shares of PT Menteng Heritage Realty Tbk (IDX: HRME) posted the biggest price...
JAKARTA (TheInsiderStories) – An Astra International Group subsidiary, PT United Tractors Tbk (IDX: UNTR), prepared US$800 million in capital expenditure (capex) to develop its business lines, including the purchase of new heavy equipment owned by its unit PT Pamapersada Nusantara (PAMA). Corporate Secretary of the company Sara K. Loebis explained,...
Indosat's New CEO Appointment Triggers Question
JAKARTA (TheInsiderStories) — A telecommunication provider, PT Indosat Ooredoo Tbk (IDX: ISAT) new CEO’ appointment has triggered question. The appointment of Ahmad Abdulaziz Al Neama as the company's new leader came without shareholders general meeting. Moreover, there has been three replacement in the last one year period. Indosat has let...
JAKARTA (TheInsiderStories) - Indonesian government officially reduce the upper limit of airfare tariff between 12 percent to 16 percent. Its expected the tariff will be effective starting May 15 and will be continuously evaluated based on applicable regulations. The tariff reduction applies differently, depending on the flight route served by...
JAKARTA (TheInsiderStories) - Delicate situation of oil price made Saudi Arabia recommended oil producer countries to gently driving oil inventories down. It sees no need to boost production quickly now, with oil at around US$70 a barrel, as it fears a price crash and a build-up in inventories. Saudi Energy Minister Khalid...
JAKARTA (TheInsiderStories) - State-owned cement producer, PT Semen Indonesia Tbk (IDX: SMGR) released local bonds with total amount Rp4.08 trillion (US$ 326.39 million). The funds will be use to pay the long-term debt of its new unit PT Holcim Indonesia Tbk (IDX: SMCB) from Holdervin B.V. Based on the disclosure of...
JAKARTA (TheInsiderStories) - United States (US) president, Donald Trump encouraged the United Kingdom (UK) to walk away from any negotiations with the European Union (EU), if they are unable to secure a favorable Brexit deal, The Sunday Times reported. He also talked up the possibility of a post-Brexit trade deal between...
JAKARTA (TheInsiderStories) - Global foreign direct investment (FDI) flows slid by 13 percent in 2018, to US$1.3 trillion from $1.5 trillion the previous year – the third consecutive annual decline, a United Nations (UN) investment report says. It said the contraction was largely precipitated by United States (US) multinational enterprises...
JAKARTA (TheInsiderStories)-The Group of 20 (G-20) summit on 28-29 June will be overshadowed by the bilateral meeting on the sidelines of the summit between Donald Trump and Xi Jinping, as they try to conclude a US-China trade deal. President Trump has signal that the US will implement another round of...
JAKARTA (TheInsiderStories) - International Monetary Fund (IMF) projected a slower economic growth in this year, than its previous projection. It said, global economy is now prone to Brexit, United States - China trade war, high level debt, and financial market restlessness, said IMF Managing Director Christine Lagarde on Tueday (02/04). She rated, this...
JAKARTA (TheInsiderStories) - The Deposit Insurance Corporation (DIC) maintained guarantee interest rates for deposits in Rupiah at commercial banks by seven percent, following Bank Indonesia which held its benchmark interest rate for the fourth time at the 6 percent. The spokesman Samsu Adi Nugroho said the guarantee interest rate still...
JAKARTA (TheInsiderStories) - President of Indonesia Joko Widodo revealed the budget needed for the integration of Jakarta and its surrounding transportation management (Bogor, Depok, Tangerang and Bekasi) worth of Rp 571 trillion (US$ 40.79 trillion). The amount to meet the needs of the development of basic needs includes transportation of Mass Rapid...
Indonesia's Lippo Karawaci Secures Funding US$1.01B
JAKARTA (TheInsiderStories) – Indonesia' property developer, PT Lippo Karawaci Tbk (IDX: LPKR) has secured funding around US$1.01 billion to support the businesses and pay the debts, said the company on Tuesday (03/12). The funding comprising of $730 million from right issue and $280 million from the completion of its...

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