JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
President Widodo Inaugurates ‘New’ Bung Karno Stadium
President Joko Widodo on late Sunday (14/01) inaugurated the newly-renovated Gelora Bung Karno Stadium in Senayan, central Jakarta after going through 8-months of renovation. The Stadium, with capacity of 80,000 people, will be used during the Asian Games in the middle of this year. After officiating the soccer Stadium, the President, Vice President Jusuf Kalla and a number of cabinet ministers watched a friendly soccer game between Indonesian national team and Iceland, which ended with a score of 4-1 for Iceland.
Papua to Get 10% Freeport’s shares
The central government signed a memorandum of understanding (MoU) with the Papua provincial administration and the Mimika regency administration on Friday, granting the local government a 10 per cent stake in the coming divestment of gold and copper miner PT Freeport Indonesia (PTFI). The government was represented by the Finance Ministry, the Energy and Mineral Resources Ministry and state-owned aluminum firm PT Indonesia Asahan Aluminium (Inalum).
Finance Minister Sri Mulyani Indrawati said that under the MoU, both the Papua administration and Mimika regency would jointly own a 10 per cent stake out of the 51 per cent of divested PTFI shares.
Indonesian Central Bank Warns over Cryptocurrencies
Indonesia’s central bank has issued a fresh warning about trading in cryptocurrencies like Bitcoin because of the risk of losses to the public and even a potential threat to the stability of the financial system. Bank Indonesia (BI) had previously stated that cryptocurrencies were not recognized as a legal medium of exchange, so that they could not be used as a means of payment in Indonesia.
Indonesian authorities have been stepping up their warnings. Last month, BI issued a regulation banning the use of cryptocurrencies by financial technology companies involved in payment systems and said it is examining whether there’s a need to regulate trading on virtual currency exchanges.
24 Smelter Units Starts Operation by 2017
As many as 24 units of processing and refining facilities (smelter) of mining products has been operating by the end of 2017. A number of smelters are currently in the development stage which is divided into two groups, namely in progress of 50% -100% and development of 0%-50%.
“The majority of smelters that have been operating are 15 nickel smelters and refining facilities, followed by four iron smelters, two bauxite smelters, two manganese smelters, and one copper smelter. In the future, the construction of processing facilities and refining of mining products will continue to grow, “said Bambang Gatot, Director General of Mineral and Coal at the Ministry of Energy and Mineral Resources.
Indonesian Govt’ Decide to Import Rice from Vietnam, Thailand
The Indonesian government has responded to the continuous rise in the price of medium-grade rice by announcing the import of 500 thousand tons of rice from Vietnam and Thailand by the end of January this year. According to the Central Statistics Agency (BPS), the average price of medium-grade rice at the mills in December 2017 rose by 2.26 per cent at Rp9,526 per kilogram compared to November, due to an increase in demand.
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