President Joko ‘Jokowi’ Widodo has finally signed Government Regulation No. 1/2017, which is the fourth amendment of Govt Reg No. 23/2014 about mineral and coal business operation. The new regulation basically extends export of minerals, including copper concentrates from Freeport and Newmont (now Amman Mineral) beyond January 11, 2017 with certain conditions.
Read MorePretty much as predicted PT Bank Maybank Indonesia Tbk (BNII) has recently signed agreement with PT Reliance Capital Management for the divestment of Maybank’s 68.55% shares in consumer financing firm PT WOM Finance Tbk (WOMF).
Read MoreInternational Living has just released its 2017 Annual Global Retirement Index, placing Mexico the best place to retire. Malaysia remained in the Top 10, but out of Top 5. Thailand out of Top 10, but joined two other Southeast Asian countries—-the Philippines and Vietnam—-in the Top 24. Indonesia is not in the list.
Read MoreCrude oil rose 2.87% to US$52.32 per barrel on Wednesday (Jan 11) on reports of Saudi supply cuts to Asia. U.S. crude was trading 3 cents firmer at $52.28, having climbed nearly 3 percent overnight, Reuters reported. Brent crude had ended $1.46 higher at $55.10 a barrel.
Read MoreThe Corruption Eradication Commission (KPK) was finally able to examine the Golkar Chairman and Speaker of the House of Representatives Setya Novanto on his involvement in the graft-ridden procurement of electronic identity card (e-KTP). Other than Novanto, the KPK also examined several other important names that are allegedly acquainted with the case. To date, the KPK has reportedly examined 250 individuals in relation to the case, but only 2 individuals have been named as suspects.
Read MoreThe Ministry of Environment and Forestry has started their work in 2017 by, among others, filing new civil lawsuits against the companies that are allegedly responsible for the land and forest fires in 2015. The new lawsuits are for four companies in three different district courts.
Read MoreThe Indonesian Football Association (PSSI) under the new leadership of Lt. Gen. Edy Rahmayadi, who is also the Commander of the Army’s Strategic Reserves Command (Pangkostrad), has held its annual congress. In said congress, the PSSI made some important decisions, especially related to the 2017 football league and the preparation of the national team.
Read MoreArticle 93 of Law No. 4/2009 about Mineral and Coal clearly states that holder of mining business permit (IUP) and Special IUP (IUPK) is not allowed to transfer IUP and IUPK to others. We all know, however, thousands of IUP have been transferred to or acquired by others in the past eight years or so.
Read MoreIn the speech he delivered on the 44th anniversary of the ruling party PDIP last Tuesday (Jan. 10), President Joko “Jokowi” Widodo spoke of the country’s biggest challenge: reducing inequalities and other imbalances—such as the state of infrastructure in Java and outside Java. The President underlined the importance of continuing the push for massive infrastructure development across the country to address the imbalances and eventually foster social justice. Some believe that Jokowi’s speech is an indirect response to the article wrote by his predecessor Susilo Bambang Yudhoyono (SBY) published a day earlier in Kompas newspaper.
Read MoreForeign investors continued selling local stocks on Wednesday (Jan 11), they booked net sell of Rp121.4 billion that day. Trading value reached Rp5.3 trillion, while volume increased but trading was focused on second and third liners stocks. Investors reduced trading in blue chip stocks amid lack of fresh news.
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