JAKARTA (TheInsiderStories) – Good morning. We offer you several relevant news items that might help your business decisions today.
Freeport Closes Access Road to Tembagapura After Shooting Incident
PT Freeport Indonesia (FI) temporarily closed down the mine access road from Timika to Tembagapura and vice versa after the shooting incident to three units of their vehicles in 61 Mile, Tembagapura District, MimikaRegency on Sunday morning (24/9). Vice President Corporate Communications Riza Pratama, said that the main access road will be closed down in 24 hours in compliance with the procedure. (Antara)
Flights in Bali Running Normal
Flights in Bali are still running normal despite Mount Agung in Karangasem, Bali, has the highest alert status. Transportation Ministry’s air transport directorate general spokesperson Agus Soebagio said on Sunday (24/9), there is no any signs that Ngurah Rai International Airport will closes down due to Mount Agung volcanic activity. On Friday evening (22/9), the Center of Volcanology and Geological Hazard Mitigation announced that the status of Mount Agung has reached the highest level. With such an announcement, the danger zone expands. (Tempo)
BI: GDP growth improved slightly in Q3-2017
Bank Indonesia (BI) expects economic growth to improve slightly in the third quarter, reaching a range of 5.1-5.2 percent. The acceleration from the 5.01 percent growth in the second quarter may result from peppier consumption. (Jakarta Globe)
TLKM & JSMR set up joint venture for electronic toll road payments
State-owned telecommunications company PT Telekomunikasi Indonesia Tbk (IDX: TLKM) and state-owned toll road operator PT Jasa Marga Tbk (IDX: JSMR) will establish a joint venture company that will be in charge of electronic toll road payments, before the end the year. The joint venture will function as a clearinghouse to collect payments and distribute funds to the relevant banks to anticipate liberalization of a toll road payment system no longer controlled by just one bank.
CTRA issues MTN of SGD150 million
Real-estate developer PT Ciputra Development Tbk (IDX: CTRA) has issued medium-term notes (MTN) in Singapore dollar currency, with SGD150 million carrying a coupon of 4.85 percent per annum, to come due in 2021.
Government of Indonesia to auction East Kalimantan block soon
The government plans to auction off the East Kalimantan oil and gas block immediately after state-owned firm Pertamina declined to take it over from its current operator, when its concession expires next year. A local unit of United States energy giant Chevron Corp. is operating the block until October 2018, and has decided not to extend its contract.
The Fed Perceives Calm Reaction of Market to Balance Sheet Squeeze
John William, a Fed Bank of San Francisco banker – does not expect any market turbulence as the Fed gets underway with reducing its huge balance sheet, built up in its campaign to stimulate the U.S. economy. The Fed could indeed increase rates again this year and up to three more times next year, but the exact timing is not important, with a gradual increase in interest rates now underway. (CNBC)
North Korea-U.S escalating rhetoric over nuclear weapons dispute
North Korea said targeting the U.S. mainland with its rockets was inevitable after President Donald Trump called Pyongyang’s leader, Kim Jong-Un, “rocket man”, further escalating the rhetoric over the North’s nuclear weapons and missile programs. (Reuters)