Month: February 2024

Jokowi to Join Golkar?

There has been a rumor that President Joko “Jokowi” Widodo might join Golkar, the second largest political party in Indonesia. Jokowi, who never said he left the ruling party PDIP, didn’t confirm or deny the rumor, which adds more speculation that it might be true. Jokowi’s decisions prior to and after the election clearly suggested he has left PDIP. Still, let’s talk a bit about the matter due to its future political implications. 

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Palm Oil Rises for 3rd Session

Malaysian palm oil futures hovered near MYR 3,880 per tonne, continuing their bullish traction for the third session as rival oils were higher. Meanwhile, crude oil prices held their gains amid shipping disruptions in the Red...

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Asian Markets Mostly Advance

Asian equity markets mostly rose on Tuesday as investors digested the latest inflation figures from Japan, while looking ahead to Australian inflation numbers and the Reserve Bank of New Zealand’s interest rate decision on...

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Oil Rises for 2nd Session

WTI crude futures extended gains to above $78 per barrel on Tuesday, following a 1.4% rise in the previous session due to supply concerns and a stronger US physical market. Uncertainties persist over a possible Gaza ceasefire,...

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Asuransi Jiwasraya Case and Bakrie Group

The trial of the decade ended in 2020. Benny Tjokrosaputro and Heru Hidayat, who were defendants in the corruption related to PT Asuransi Jiwasraya, were found guilty and sentenced to life imprisonment. It’s a historic outcome in Indonesia’s corruption eradication effort, but questions remain until today. Benny insisted that he was not the one to blame in the case. During the court proceedings he accused the Bakrie Group for playing a bigger role in causing State losses, Benny even tried to sue the Supreme Audit Agency (BPK) repeatedly, but we never really understand what he really meant. Interestingly, this week the South Jakarta District Court registered a lawsuit filed by several familiar names against the Attorney General’s Office (AGO) and although the court has not published detailed information on the lawsuit, the plaintiffs remind us of the Asuransi Jiwasraya case.

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