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Fitch DBSDanamon Decision May Temper Indonesian Bank MA
U.S. Money Funds Return to Eurozone Banks U.S. prime money market funds (MMFs) increased their exposure to eurozone banks in April, although asset allocations to these institutions remain well below 2011 levels, according to Fitch Ratings. As of end-April 2013, MMF allocations to eurozone banks represented 15.1% of assets under management within Fitch Ratings'sample of the 10 largest U.S. ...
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Freeport losing 220000 T of ore output a day at shut Indonesia mine
JAKARTA | Wed May 22, 2013 1:55am EDT JAKARTA May 22 (Reuters) - Freeport McMoRan Copper & Gold Inc is losing production of about 220,000 tonnes of concentrated ore a day after the shutdown of its Indonesian copper mine in Papua after a tunnel collapse that killed 28 people, a company executive said on Wednesday. Freeport closed the remote Papua mine on Wednesday last week, a day after ...
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Editorial Uphill tasks for Chatib
Paper Edition | Page: 6 M. Chatib Basri -- who was installed on Tuesday as the new finance minister to replace Agus Martowardojo, who is to head Bank Indonesia (Central Bank) -- had all along been the front-runner and most qualified candidate to lead the fiscal management all along.Chatib fulfills all the fundamental requirements to lead the fiscal management --he is not affiliated with any ...
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All 28 bodies recovered from Indonesian mine room
JAKARTA, Indonesia -; Rescuers have recovered all 28 bodies from a collapsed underground room inside the giant U.S.-owned gold and copper mine in Indonesia's province of ...
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UPDATE 1-Indonesias Bank Danamon shares tumble 5 pct after DBS approval
Tue May 21, 2013 11:48pm EDT (Adds analyst reaction, details) JAKARTA May 22 (Reuters) - Shares in Bank Danamon Indonesia Tbk PT dropped as much as 5 percent on Wednesday, pressed down by uncertainty over whether Singapore's DBS Group Holdings Ltd will be able to purchase a majority stake in the Indonesian lender. Indonesia's central bank said Singapore needed to open up its banking ...
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China too strong for Indonesia
Defending champion China trounced arch rival Indonesia 5-0 to top Group A of the Sudirman Cup in Kuala Lumpur yesterday, declaring it is ready to face anyone in tomorrow's ...
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Indonesian activists rail against rising cyber-homophobia
Indonesian activists say more work is needed to fight online discrimination against homosexuals and transgendered people. Kamilia Manaf, a representative of the Pelangi Perempuan Institute, which advocates lesbian rights, said that an increasing number of people were insulting members of the lesbian, gay, bisexual and transgendered (LGBT) community on the Internet. "There are people who ...
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Police to probe Labora’s superiors
Paper Edition | Page: 4 The National Police will question the direct superiors of Adj. First Insp. Labora Sitorus over their involvement in his suspicious 'businesses', a top official said. National Police chief of detectives Comr. Gen. Sutarman said on Tuesday that the force's Internal Affairs Division (Propam) was in Papua to interrogate and investigate. "Propam deals with ...
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Lawmakers biggest source of funding for parties Survey
Paper Edition | Page: 4 Antigraft watchdog Indonesian Corruption Watch (ICW) claims to have found in its survey that political parties finance their activities by illegally collecting funds through their politicians at the House of Representatives. Throughout 2012, ICW conducted research on the financial reports of nine political parties: the Democratic Party, Golkar Party, Democratic Party of ...
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Activists rail against increasing ‘cyber-homophobia’
Paper Edition | Page: 4 Activists say more work is needed to fight online discrimination against homosexuals and transgendered people.Kamilia Manaf, a representative of the Pelangi Perempuan Institute, which advocates lesbian rights, said that an increasing number of people were insulting members of the lesbian, gay, bisexual and transgendered (LGBT) community on the Internet."There are ...
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Indonesia - Market factors to watch on May 22
JAKARTA, May 22 (Reuters) - Following are some company-related and market news which could have an impact on the local market. ------------------- MARKET SNAPSHOT @ 0010 GMT -------------- INSTRUMENT LAST PCT CHG NET CHG S&P ...
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US aircraft released after being impounded
After being impounded for 17 hours, a US military aircraft was given clearance at 7:15 a.m. on Tuesday after it entered Indonesian airspace uninvited the day before."We have allowed them to continue their journey to Singapore [the aircraft's final destination] after we received security clearance from TNI headquarters as well as diplomatic clearance [from the Foreign Ministry]," ...
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AGO accused of rights abuse in Chevron case
The Attorney General's Office (AGO) has been accused of violating human rights in investigating a case involving US-based oil and gas giant Chevron Indonesia.National Commission on Human Rights (Komnas HAM) commissioner Natalius Pigai told reporters in Jakarta on Tuesday that Komnas HAM would report its findings to President Susilo Bambang Yudhoyono, the House of Representatives and the ...
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Forestry Ministry KPK ink deal to battle graft
Following the extension of the two-year moratorium on forest clearances, the Forestry Ministry signed a memorandum of understanding (MOU) with the Corruption Eradication Commission (KPK) on Tuesday to prevent malpractice and corruption."This effort has been made to improve the ministry's administration following the moratorium. The ministry can no longer 'sell' concession ...
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SBY asks D-8 to enhance cooperation
Warm welcome. President Susilo Bambang Yudhoyono (right) welcomes Developing 8 (D-8) Secretary General, Seyed Ali-Mohammad Mousavi (left), to the Presidential Office in Jakarta, on Tuesday. The … Full News here ...
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Indonesia- 2013 inflation may rise to 7 if fuel prices go up
(MENAFN) Indonesian finance minister, Muhamad Chatib Basri, announced that if local fuel prices rise, then the country's 2013 inflation level might grow to 7 percent, reported Reuters.Earlier this month, the Indonesian president stated that the government may raise fuel prices if only the parliament endorsed a financing program to protect the poor from the inflationary impact of high fuel ...
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China to face Indonesia again in badminton quarters
KUALA LUMPUR (AFP) - Luck was not on Indonesia's side on Tuesday as hours after suffering a crushing 5-0 defeat to China, they were drawn to meet the eight-time Sudirman Cup champions again, this time in the quarter-finals.Germany, who stunned hosts Malaysia 3-2, were matched against South Korea, while Taiwan will meet Denmark, and Thailand will face Japan in the other quarter-finals on ...
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Freeport tunnel victims all evacuated
Thirty-eight workers buried in a collapsed tunnel at the Big Gossan underground training facility at the PT Freeport Indonesia mine have been all evacuated.A statement released by Freeport said that eight bodies were removed from the collapsed tunnel on the last day of rescue efforts on Tuesday.They were identified as Daniel Tedy Eramuri, David Gobay, Febry Tandungan, Ferry Edison Pangaribuan, ...
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Mine Collapse Kills 21 in Indonesia
Jakarta, May 21 (Prensa Latina) Authorities confirmed today that 21 miners were found dead after a mine collapse at the gold and copper deposit being exploited by the U.S. Freeport consortium in the Indonesian province of Papua. The Asian nation's president Susilo Bambang Yudhoyono asked Freeport and government agencies to thoroughly investigate the collapse that affected an underground ...
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Indonesia approves DBS purchase of Danamon stake
JAKARTA (AFP) - Indonesia on Tuesday approved the purchase by Singapore's DBS of a 40 percent stake in Bank Danamon, but demanded the city-state open up its financial sector before any full takeover.More than a year after DBS launched its bid to make the biggest ever bank acquisition in Indonesia, central bank governor Darmin Nasution said it could acquire part of Danamon but could not yet ...
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Man missing in Batanghari River boat accident
Muhammad Iqbal Saleh, a member of a tugboat crew, went missing in Batanghari River, Jambi after a barge cable snapped and knocked him into the water.Harbormaster tower chief at the Jambi port, Elman Inik, said on Tuesday that he had ordered his staff to call the police and contact Iqbal's family."We have been searching, but have to stop now due to nightfall," he said.Muhammad ...
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Cebongan case files will be soon given to military prosecutors
Military Police investigators display evidence, including two AK-47 replicas, taken in the Kopassus prison case, at a press conference at Denpom IV Diponegoro headquarters in Semarang, Central Java, on ...
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Colorado Indonesia Schools Win Schlumberger Scholarships
Schlumberger Ltd. announced Tuesday its contribution of five scholarships to the American Association of Petroleum Geologists' (AAPG) Outstanding Student Chapter Awards. Two universities were selected as the 2013 chapter winners and four additional universities were awarded honorable mention student chapter scholarships. Colorado School of Mines in Golden, Colorado was the top award ...
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New rice contamination reported in China
BEIJING -; Authorities are investigating rice mills in southern China following tests that found almost half of the staple grain in one of the country's largest cities was contaminated with a toxic ...
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Singapore may give Indonesian banks more access in boost to DBS
SINGAPORE | Tue May 21, 2013 8:42am EDT SINGAPORE May 21 (Reuters) - Singapore's central bank said on Tuesday it is exploring the possibility of giving Indonesian banks greater access to the city-state's market, in a move that may help Southeast Asia's largest bank DBS Group get majority control of Bank Danamon. Its announcement follows Indonesia's central bank's ...
Indonesia Feature
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Indonesia and Singapore: model of inter-dependence?
Indonesia is a regional power in South East Asia, but lacks the development and economic wealth of smaller nations, such as the tiny state of Singapore. Hence, it makes sense for the two countries to cooperate closely with one another as Indonesia has natural resources Singapore needs and Singapore has the financial strength Indonesia needs.
Indonesia is the sleeping giant of South East Asia. With a population of 288 million, a land mass the size of Mexico and territorial waters that could fill half of China, it’s an immense country and a regional power within the geopolitical organization known as ASEAN (the Association of South East Asian Nations). Indonesia takes up almost half the area occupied by the ASEAN countries and accounts for one third of its GDP. Read more
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