The Indonesian Financial Services Authority (OJK) is closely monitoring the claim & disbursement of insurance for the victims of crashed AirAsia flight QZ8501. Firdaus Djaelan, the chief executive of OJK’s supervision of non-banking industry division, told reporters yesterday in a press conference that, as we expected, the OJK would make sure the victims of the crashed flight fully compensated.
Read MoreJakarta will have its next gubernatorial election in July 2017. Given the current political dynamics, we can assume that the 2017 gubernatorial election will be a direct election whereby residents of Jakarta will get the chance to vote for the gubernatorial pair they see fit for governing the capital city. This means Governor Basuki “Ahok” Tjahaja Purnama only have 2 years (or less) to prove himself worthy of getting re-elected. Will he succeed?
Read MoreComposite index of Indonesia Stock Exchange (IDX) opened higher by 0.55% this morning as some peers moved into green zone on bargain hunting. Almost all blue chip stocks opened higher grounds this morning, except for banks owned...
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Appointment of Rini Soemarno as minister of state-owned enterprises was welcomed with lots of criticism from both within the inner circle of President Joko Widodo and the opposition. Rini, known for close relationship with PDIP chairwoman Megawati Soekarnoputri, has made some interesting decisions in the first two months in office.
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The speculation game about what may have caused Air Asia flight QZ 8501 continues. This game won’t end until the truth about what happened inside the plane’s cockpit is revealed. For that, the authorities would need to find the cockpit voice recorder, and the flight data recorder otherwise known as the black box. The search is underway, but even if the black box is found, what kind of revelation can everyone expect? To answer that question, let’s look into the conduct of past investigations.
Read MorePresident Joko “Jokowi” Widodo has appointed I Dewa Gede Palguna as the new Justice of the Constitutional Court (MK). The former politician of the Indonesian Democratic Party of Struggle (PDI-P) is expected to have his oath taken today (Wednesday, Jan. 7). I Dewa Gede Palguna will replace outgoing Chief Justice Hamdan Zoelva, whose term of service ends today.
Read MoreCrude oil price now falls to US$47 per barrel Tuesday on supply concern. Member countries of Organization of Petroleum Exporting Countries (OPEC) opt not to cut their oil productions, to compete the growing oil supply from United States. Indonesian crude oil price also dropped by US$15.83 to US$59.56 per barrel at December 2014, compared to previous month. Apart from supply concern, the current oil price drop is also due to the appreciation of dollar and the slowdown of China economy.
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Shares of Asia Resource Minerals Plc (ARMS) collapsed 5 pence to 10 pence in London yesterday as the Company, which controls Berau Coal Energy (BRAU), revealed that Borneo Bumi Energi and Metal Pte Ltd—controlled by Samin Tan—demanded a change in the board of directors.
Read MoreGold producer PT J Resources Asia Pasifik (PSAB) Tbk was furious with statements from Reza Priyambada, analyst from PT Woori Korindo Securities, published by some media outlets late last year regarding strange movement of PSAB shares. Reza was given seven days to clarify his allegations about insider trading and manipulation in the shares trading.
Read MoreNational media quoted Sukhyar, director general for coal & minerals at energy & mineral resources ministry, saying PT Freeport Indonesia has opted to partner with Mitsubishi Materials Corp for the development of US$2.3 billion copper smelter project in Gresik, East Java.
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