WTI crude oil advanced 2.67% to US$62.01 per barrel in Asian trading, reportedly as US crude supply glut eases. The benchmark July contracts of crude palm oil (CPO), meanwhile, ended higher by more than 1% to RM2183 per ton on Bursa Malaysia Derivatives Wednesday (May 6).
Read MoreThe Corruption Eradication Commission (KPK) will team up with the National Police (POLRI) and the Attorney General Office (AGO) and establish the so-called anti-corruption joint task force. Many believe this to be President Joko “Jokowi” Widodo’s experiment. The President is keen on seeing whether the three law enforcement institutions could work together in eradicating corruption. So will this be a successful experiment or is this a naive move that is destined for failure?
Read MoreThe talk about a cabinet reshuffle continues. National media outlets like MetroTV—private television station owned by the founder of Nasdem party, Surya Paloh—even went as far as reporting that three ministers could be sacked. Detik.com, an online news publisher owned by Chairul Tanjung, has been reporting the news that as many as ten ministers could be replaced. But President Joko “Jokowi” Widodo has kept silent on the matter. But the same can’t be said of Vice President Jusuf Kalla.
Read MorePT XL Axiata (EXCL) Tbk booked net loss of Rp758 billion in the first quarter of 2015 against profit of Rp379 billion the corresponding period of 2014 due to a huge Rp1.05 trillion loss on foreign exchange translation.
Read MoreTwenty-six Indonesian companies expected to generate a potential transaction of 10 million USD during the 2015 Salon International de l’Alimentation (SIAL) Canada. SIAL Canada is an international agro-food industry event. It was held from April 28 to 30 in Toronto and Indonesia was the country of honor for the 2015 SIAL Canada.
Read MoreComposite index of Indonesia Stock Exchange (IDX) returned to positive territory within one hour of trading Wednesday (May 6), thanks to the surge of metals-related shares and blue chip stocks. Rally in crude oil has also lifted resources stocks in most part of the world.
Read MoreThe Law No. 23/2014 on Regional Government has once again caused complications. The Law states that the affairs of coastal and small islands are 70 percent the jurisdiction of the Central Government and 30 percent remains the jurisdiction of Provincial Government and without the involvement of Regency/City Government. Figuring the detail for that outline is where things get interesting.
Read MorePT Pelabuhan Indonesia II, the state-owned port management company, which manages the country’s largest port Tanjung Priok, has succeeded in issuing US$1.6 billion worth of Notes in the bond market of Singapore Exchange (SFX). The Notes will be listed and quoted this morning.
Read MoreThe name Benjina went worldwide after an investigation report was published by the Associated Press about suspicion of indentured services. Soon after the news broke, the Ministry of Marine and Fisheries (KKP), through its Task Force on Combating Illegal Fishing conducted a field investigation and found 322 foreign crews stranded in the factory of PT Pusaka Benjina Resources (PBR) in Benjina, Aru Islands, Maluku. The foreign crew members were suspected as victims of forced labor.
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Bank Indonesia, the central bank, recorded economic growth of 4.71% (y-o-y) in the first quarter of 2015, significantly slower than the previous quarter of 5.02%, due to a combination of factors, including weak domestic demand. The central bank, however, anticipates stronger growth in the second quarter onwards.
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