Economy

Economy (10)

Sunday, 02 July 2017 15:58

KPK plays down House’s budget threat

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The Corruption Eradication Commission (KPK) has dismissed the House of Representatives’ threat to scrap its budget allocation in the 2018 state budget over its refusal to present a key witness in the e-ID graft case at an inquiry hearing.   

KPK deputy chairman Alexander Marwata said he was confident the House would not be able to cancel the budget allocation for the anti-graft body and the National Police, which have also refused to comply with the House’s request.

Power deficient Indonesia needs to catch up with its neighbours in solar PV adoption. Subha Krishnan considers whether a planned feed-in tariff will be the right mechanism to kick start this process

Eni has started gas production from the Jangkrik Development Project, in deep water offshore Indonesia, ahead of schedule.

The Project comprises the gas fields Jangkrik and Jangkrik North East, located in the Muara Bakau block, Kutei basin, in the deep water of Makassar Strait.

The first liquefied natural gas (LNG) cargo from the Jangkrik field within the Muara Bakau block has been delivered to the Tanjung Benoa regasification terminal in Bali from the LNG Bontang refinery in East Kalimantan. 

The delivery was part of a long-term contract with state-owned oil and gas giant Pertamina. The Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) deputy chairman, Sukandar, said that a majority of the gas produced from the Muara Bakau field would be prioritized for fertilizer factories and other domestic industries where it was needed. 

A high school dropout turned seafood entrepreneur is leading Indonesia's crackdown on illegal fishing, winning plaudits from conservationists and awards as far away as Washington despite her explosive methods.

 

A favorite tactic: seizing foreign fishing vessels and blowing them into smithereens to send a message to her country's neighbors.

Sunday, 30 April 2017 09:54

Forza Land makes debut listing on IDX

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Real estate developer PT Forza Land Indonesia (FORZ) has listed its shares on the Indonesia Stock Exchange (IDX).

The company listed 1.56 billion shares under the code FORZ, with shares opening at Rp 330, up 50 percent from the offering price of Rp 220.

Jakarta is slated to host an automotive exhibition from Feb. 23 to Feb. 25 at the Jakarta Convention Center in Senayan, Central Jakarta.

Indonesia is a place that travellers speak of as a paradise. Advertisements for leisure travel depict pristine white sand beaches, palm trees swaying in cool tropical breezes, fishermen tossing their nets into the rainbow sunsets, all while cocktails are being served on the verandas of five-star hotels. Potential clientele are assured of the hi-speed Wi-Fi and ease of communication for those doing business or social media networking.

The local unit of German car manufacturer Daimler AG says it wants to assemble more product lineups in Indonesia to help boost sales and increase the utilization of its local plant.

President director of Mercedes-Benz Distribution Indonesia (MDI), the local distribution unit of the firm, Roelof Lamberts, said Tuesday that his side was considering assembling the entry level cars A-Class and B-Class in its plant in Wanaherang, Bogor, West Java after the E-Class recently.

In line with expectations, Bank Indonesia (BI) has continued with its monetary easing by keeping its benchmark sevenday repo rate at 4.75 percent on Thursday to maintain stability amid growing global uncertainty.

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