Indonesia Allocates $302 Million to Back Geothermal Exploration

General Sources - Tuesday 18th June, 2013

Indonesia started a fund to finance the exploration of geothermal energy resources as the nation seeks to reduce its dependence on fossil fuels for electricity. The finance ministry's ...

Ex-Aust diplomat in custody in Indonesia

News.com.au - Tuesday 18th June, 2013

AUTHORITIES in Indonesia have refused to release an Australian businessman and former diplomat despite a court ruling that his detention is ...

Timur apologizes injuries to journalists

The Jakarta Post - Tuesday 18th June, 2013

National Police chief Gen. Timur Pradopo apologized on Tuesday for the shooting of two journalists covering the fuel protests. He also promised to investigate the incidents thoroughly."I apologize for the incident. Investigations are underway to see on why there could be victims during the demonstrations," said Timur at the People's Consultative Assembly/ House of Representatives ...

IFC OJK ink corporate governance road map

The Jakarta Post - Tuesday 18th June, 2013

The International Finance Corporation (IFC), a member of the World Bank Group, and the Financial Services Authority (OJK) signed an agreement to improve corporate governance standards in Indonesia.Under the agreement, signed on Tuesday, the IFC will advise and support the OJK to develop a corporate governance road map to identify gaps and challenges in Indonesia's regulatory framework. It ...

Top Aussies beaten in Bali surf

sportal.com.au - Tuesday 18th June, 2013

Australians Joel Parkinson and Taj Burrow along with Kelly Slater all suffered first-round losses at the Oakley Pro Bali surfing event on Tuesday.Hawaii's Frederick Patacchia upset Parkinson with some powerful backhand attacks in three-to-five feet waves at the primary venue of Keramas."It's a tough wave to surf, Keramas, and I think a lot of us are trying to figure it out," ...

Australian Patrick Alexander held in Indonesia on embezzlement allegations despite ruling his detention is illegal

ABC Australia - Tuesday 18th June, 2013

Indonesia An Australian businessman and former senior diplomat is being held in Indonesia after a business deal turned sour, despite a court ruling that his ongoing detention is illegal.Patrick Alexander, a private equity investor and former second secretary at the Australian Embassy in Jakarta, is tonight under police guard at a Jakarta prosecutor's office.Mr Alexander - who has been ...

Fitch No Rating Impact on Pertamina from Indonesias Fuel Price Rises

Fitch Ratings - Tuesday 18th June, 2013

Fitch: Spanish Floor Clause Ruling May Reduce Excess Spread A recent Spanish Supreme Court ruling could cause lenders to stop applying floor clauses that set minimum interest rates in mortgage contracts, and so reduce excess spread in Spanish RMBS transactions, Fitch Ratings says. The presence of interest rate floors in mortgage contracts has bolstered excess spread during the recent period of ...

RPT-Fitch No rating impact on Pertamina from Indonesias fuel price rises

Reuters - Tuesday 18th June, 2013

Tue Jun 18, 2013 5:50am EDT (Repeat for additional subscribers) June 18 (Reuters) - (The following statement was released by the rating agency) Fitch Ratings said that the proposed fuel price increases in Indonesia will not impact PT Pertamina (Persero)'s (Pertamina; BBB-/Stable) public service obligation (PSO) or its linkages with the state, which drive its ratings. Also, the proposed price ...

Indonesia plans to announce oil price hike this week official

Global Times - Tuesday 18th June, 2013

The Indonesian government plans to announce oil prices hike this week after the parliament gave an approval on the state budget revision on Monday, a minister said here on Tuesday, allowing the country to allocate more funds for infrastructure.After their vote, the lawmakers finally agreed to reduce the amount of fuel subsidy and amount of compensation to counter the impact of the hike, Energy ...

Indonesia sells 2.65 trln rph from debt auction far below target

Reuters - Tuesday 18th June, 2013

JAKARTA, June 18 | Tue Jun 18, 2013 4:29am EDT JAKARTA, June 18 (Reuters) - Indonesia's finance ministry raised 2.65 trillion rupiah at a debt auction on Tuesday, below an indicative target of 8 trillion rupiah, the debt office said. It sold 400 billion rupiah in one-year T-bills, 700 billion rupiah in 10-year bonds and 1.55 trillion rupiah in 20-year bonds. Total incoming bids were ...

Indonesia presses on with fuel hike despite popular anger

Fox News - Tuesday 18th June, 2013

A student hurls a bamboo stick as police spray a water cannon during a protest against the fuel price hike, outside the parliament in Jakarta, on June 17, 2013. Indonesia defied popular anger on Tuesday by pressing ahead with its first fuel price hike since 2008, a day after police fought running battles with thousands outside ...

BLSM won’t influence political choices VP

The Jakarta Post - Tuesday 18th June, 2013

Vice President Boediono said he was sure that the temporary direct cash assistance (BLSM) would not be able to influence the political choices of people who benefited from the assistance."So, if there are people who still worry about the assistance, they may need to think again about that Rp 150,000 (US$15.2) monthly cash aid for four months; it actually means nothing for our ...

Indonesia may decide this week on Freeport mine resumption - minister

Mine Web - Tuesday 18th June, 2013

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Trans7 asks police to account for violence against journalist

The Jakarta Post - Tuesday 18th June, 2013

Trans7 coordinator of regional news coverage, Pasaoran Simanjuntak, said the Jambi Police should thoroughly investigate the violence against its video journalist, Antonius Nugroho Kusumawan, who was seriously injured when he was covering the fuel protests in front of the Jambi Legislative Council (DPRD) office, on Monday.The police should also account for losses in the incident, he ...

Public transportation tariff expected to increase only by 10-20 percent

The Jakarta Post - Tuesday 18th June, 2013

The Transportation Ministry's director general for land transportation Soeroyo Alimoeso said the tariff increase of public transportation should be set only between 10 to 20 percent if the government-proposed subsidized-fuel price hike took effect."Definitely, the fuel price hike may lead to a rise in public transportation tariff; but, the tariff is expected to increase only by 10 to ...

Legislators want govt to increase minimum wage

The Jakarta Post - Tuesday 18th June, 2013

House of Representatives legislators urged the government to revise the minimum labor wage after the plan on raising subsidized-fuel price had been approved.Golkar Party's Poemida Hidayatullah said as quoted by tribunnews.com that the government had to start formulating incentive schemes for businesses so that they would not bear higher production costs if the minimum wage were to be ...

Indonesias Petral concludes Q3 gasoil jet fuel term contracts

General Sources - Tuesday 18th June, 2013

SINGAPORE, June 18 (Reuters) - Indonesia's Petral, the trading arm of state-owned Pertamina, has concluded negotiations to buy gasoil and jet fuel for the third quarter of the year, industry sources said on Tuesday. The company finalised its third-quarter term contract to buy 0.35 percent sulphur gasoil at premiums of between 80 cents and $1.15 a barrel over the Pertamina pricing ...

Indonesia Guangxi to expand co-op in exclusive economic zone

China Daily - Tuesday 18th June, 2013

coo peration in building exclusive economic zones in both countries, an Indonesian minister said on Monday. The plan was unveiled at a meeting between Peng Qinghua, secretary of Guangxi Zhuang autonomous region CPC Committee, and Indonesian President Susilo Bambang Yudhoyono at the State of Palace. During the meeting, both sides agreed to set up another economic zone for cooperation in the ...

Tempers flare during Indonesia fuel protests

Asia News Network - Tuesday 18th June, 2013

Some rallies against the proposed fuel-price hike staged across Indonesia on Monday were tainted by violence. National Police spokesperson Sr. Comr. Agus Rianto said five protesters, six police and two journalists were injured in rallies in Ternate, North Maluku and Jambi. In Ternate, around 2,000 protesters clashed with local police as they tried to occupy the Baabulah Airport around 12pm ...

Jakarta points finger at Singaporean palm oil ventures for causing smog

The Standard - Tuesday 18th June, 2013

(29 mins ago) Smog from forest fires in Indonesia stayed at unhealthy levels in Singapore today as the two neighbors blamed each other for the seasonal problem. Singapore's Pollutant Standards Index stood at 115 as offices opened – still above the ';unhealthy’’ threshold of 100 but down from the peak reached late yesterday when the entire island was shrouded by a ...

PKS beef case ready to go before the court

The Jakarta Post - Monday 17th June, 2013

Paper Edition | Page: 4 The Corruption Eradication Commission (KPK) has wrapped up its investigation into former Prosperous Justice Party (PKS) chairman Luthfi Hasan Ishaaq and his aide Ahmad Fathanah in the beef importation affair.KPK spokesman Johan Budi said that dossiers on the two suspects were complete and had been handed to prosecutors in the case. The trial of the two could start as ...

‘Rise in inequality harms poverty reduction’

The Jakarta Post - Monday 17th June, 2013

Answer: For us, gender inequality is one of the causes of poverty in Asia. Our first focus is on women's economic leadership as well as women's political leadership. When I say women's economic leadership, I mean improving women's livelihoods while, at the same time, women should be able to bargain in the market and have better access to credit. So, we work on a range of ...