Bumi Resources Pays Its Debt Early
Posted by Jakarta Updates on Nov 09, 2011 | Leave a Comment
PT Bumi Resources Tbk (Bumi) director, Dileep Srivastava said that Bumi has paid early its first debt installment of USD 600 million to China Investment Corporation. He added that the first payment of the debt is due on October 2011 but was settled almost two years before its mature.
“The amount paid is refinanced by syndicated bank loans, which includes Bank of America Merrill Lynch, Deutsche Bank, Barclays Bank...
Agriculture Ministry Wants To Raised Milk Import Duty
Posted by Jakarta Updates on Nov 08, 2011 | 1 Comment
The Indonesian Ministry of Agriculture proposed to the Finance Minister to keep the 5 percent import duty for milk product. In fact, if possible, the Ministry wants it to be raised to 10 percent. Other than that the Ministry also proposed a quota system to limit the exposure of imported milk.
It was reported before that the Ministry of Industry have requested the Ministry of Finance to eliminate import duty for milk....
211 Indonesian Migrant Workers Under Capital Punishment Threat
Posted by Jakarta Updates on Nov 08, 2011 | Leave a Comment
As much as 211 Indonesian migrant workers are under death sentence threat all over the world. Countries they are in are Saudi Arabia, Malaysia and China. Most of the crimes committed are drug trafficking in Malaysia and the rest are adultery and witchcrafts.
This fact is mentioned by the Indonesian Migrant Workers task force spokesperson Humprey Djemat in Jakarta on Monday (11/08/2011).
Humprey said that the task force...
Kerinci Seblat Conservation Park Road Development Need to Consider Economic Aspect Too
Posted by Jakarta Updates on Nov 07, 2011 | Leave a Comment
The Indonesian Forestry Ministry said that the road development that cuts through the Kerinci Seblat Conservation Park (TNKS) can still be cancelled provided that sufficient proof of its environmental damages. At the moment there are teams of experts that currently looking at the benefit as well as drawback of the road development.
“Building roads that cut through protected forests requires deep impact analysis. Because...
Indonesian Gross Domestic Product Growth Predicted At Over 6 Percent
Posted by Jakarta Updates on Nov 07, 2011 | Leave a Comment
The Indonesian Gross Domestic Product growth during the third quarter of 2011 does not seem to be affected by the international economic slowdown. Some analysts predict that the growth at the end of September will reach 6.7 percent amid the stability of domestic economic growth.
This prediction is expressed by Eugene Leow from DBS group Research in Singapore. “We see a growth of 6.4 percent in 2011 and 6.1 percent in...
5.2 Million Hectares Of Forests For REDD+ In Papua
Posted by Jakarta Updates on Nov 04, 2011 | Leave a Comment
The Papua Local Government is preparing 5.2 million hectares or about 60% of Papua provincial forest for the REDD+ carbon scheme. However, the Papua Local Government admitted to not yet have regulation issued that can preserve these forests for the duration required by the scheme.
According to West Papua Forest and Plantation Department Head, Hendrik Runaweri, the province has been officially accepted as a member of Governors...
Bank Mandiri Aggressively Funding Palm Oil Industries
Posted by Jakarta Updates on Nov 04, 2011 | Leave a Comment
The Government owned bank Mandiri is one of the local bank that actively supporting the palm oil industries by providing massive line of credit to the industry. Up until the first semester of 2011, Bank Mandiri has provides loan of around USD 3 billion to the Indonesian palm oil industries and farmers.
Bank Mandiri Vice President of Corporate Banking Rafjon Yahya says that palm oil industries are still has the highest...
Hotels In Palembang Are Fully Booked In Anticipation Of The 26th SEA Games
Posted by Jakarta Updates on Nov 03, 2011 | Leave a Comment
Hotel room price in Palembang, South Sumatera has increased by 50% since November 1, 2011. This increase is influenced by the South East Asian (SEA) Games XXVI which will be held between November 11 and November 22, 2011 in Palembang. Around 3,000 rooms have been booked for the Sea Games guests.
“The increase is needed because the demand for rooms is very high. Beside that we also need to improve the facilities and...
ATM Card Migration Into Chip Is Going To Be Costly For Indonesian Banks
Posted by Jakarta Updates on Nov 03, 2011 | Leave a Comment
Indonesian banks will have to provide the funds for the card migration process from magnetic stripe to chip technology as mandated by the Indonesian Central Bank. Other than for the card replacement itself, the funds will also be required to replace or upgrade their ATM machine to enable the machine to accept the card with the new chip technology.
To get around the big funds required for this migration process, state...
Iranian Illegal Immigrant Boat Capsized Killing 7 People
Posted by Jakarta Updates on Nov 02, 2011 | Leave a Comment
Seven illegal immigrants from Iran was found dead after their wooden boat bound to Australia crashed around Palwangan, Kalipucang, Ciamis Regency, West Java, Indonesia. As much as 15 others are still lost and the 48 survivors were taken to Surakarta Immigration office.
Ciamis head of police, Kombes Agus Santoso explained that the ship was about 2 x 7 meter in size and carrying around 70 people from Pakistan, Iran and...
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