News

JAKARTA (TheInsiderStories) - United States' (US) court charged the chief financial officer (CFO) of Chinese' Huawei Technologies Co. Ltd., Meng Wanzhou and two affiliates for fraud in violating sanctions against Iran. She was arrested since Dec. 1st in Vancouver, Canada and now in process extradite to US. China considers it to be foul...

JAKARTA (TheInsiderStories) - State-owned oil and gas holding PT Pertamina and its Taiwanes partner CPC Corp., is looking to establish a naphtha cracking plant in Indonesia, said the company on Sunday (03/06). The Indonesian operator is committed to diversifying its business into new and renewable energy segments as support for the government...

JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today: Google, Temasek Coming in as New Investors in Go-Jek: Sources Google, Singapore state investor Temasek Holdings and Chinese online platform Meituan-Dianping are investing in a fundraising round of Indonesian ride-hailing startup Go-Jek, sources familiar...

JAKARTA (TheInsiderStories)—Indonesia’s state-owned oil and gas company PT Pertamina (Persero) lowered its projected capital spending in 2018 by 20 per cent due to worsening market condition. Pertamina's Director for Investment Planning and Risk Management Pertamina Gigih Prakoso said on Tuesday (17/07) that the company's capital spending plan is lowered to...

JAKARTA (TheInsiderStories) – In May 2015, the Joko Widodo government unveiled an ambitious program to develop 35,000 MW installed capacity of power plants in the period of 2015-2019. The program was launched in Bantul, Jogyakarta, marked by the groundbreaking of a number of power plant projects to be developed...

JAKARTA (TheInsiderStories) — To maintain monetary and financial stability, Bank of Indonesia (BI) and Monetary Authority of Singapore (MAS) established financial agreement valued US$10 billion, for foreign exchange liquidity access. The agreement signed by Bi's governor Perry Warjiyo and MAS's acting-director Ravi Menon, on Monday (05/11). The one year-agreement consists...

JAKARTA (TheInsiderStories)--Indonesia's state-owned banks had withdrawn from plans to finance a deal by PT Indonesia Asahan Alumunium to raise its stake in PT Freeport Indonesia to 51%, as per the instruction from State Enterprises Ministry. The Chairman of Association of State-Owned Banks and President Director of PT Bank Tabungan Negara Maryono...

JAKARTA (TheInsiderStories)--China has agreed to increase import of crude palm oil (CPO) from Indonesia by at least 500,000 tons. Last year, Indonesia’s CPO export to China reached 3,730,000 tons. President Joko Widodo said on Monday (7/5) that it was part of the agreements reached with visiting China's Prime Minister Li...

JAKARTA (TheInsiderStories) -- United Kingdom (UUK) House of Common will have another vote over Brexit, as Premier Theresa May expects for more negotiations to European Union (EU). She has spoken to European Commission President Jean-Claude Juncker about her intention. There are seven amendments to be voted by the House. If...

JAKARTA (TheInsiderStories) - Over reliance on tax revenue to finance state budget raises question on the President Joko Widodo’s administration to achieve higher economic growth and a more expansive social welfare program next year, according to economists. Economist from University of Indonesia Faisal Basri said high dependence on tax revenue exposes Indonesia’s...