/   

Business

  • Global stocks drift ahead of Fed minutes

    Asian stocks got a slight boost Wednesday from positive U.S. economic figures that reinforced expectations of eventual Fed rate hikes and a stronger dollar, while European markets drifted lower ahead of Federal Reserve minutes.

  • Japan trade deficit widens, exports up slightly

    Japan's trade deficit rose in July from the month before to a wider than expected 964 billion yen ($9.4 billion), though exports were higher for the first time in three months, the government said Wednesday.

  • Govt has lined up three candidates to replace Karen: Dahlan

    State-Owned Enterprises Minister Dahlan Iskan has said that he has three possible replacements for Karen Agustiawan, who has resigned from her post as CEO of state-owned oil and gas firm PT Pertamina.

  • Govt, Pertamina to discuss 12-kg LPG new price

    Economic Coordinating Minister Chairul Tandjung says that the state owned oil and gas firm PT Pertamina will continue its plan to increase the price of the 12-kilogram LPG canister despite Karen Agustiawan resignation.

  • No political pressure behind Pertamina CEO’s resignation: Minister

    Coordinating Economic Minister Chairul Tanjung has said state-owned gas and oil producer PT Pertamina CEO Karen Agustiawan resigned to pursue a teaching career at Harvard University and to spend more time with her family.

  • Banyu Urip field to get new floating storage facility

    A floating storage and offtake (FSO) vessel, which will be used to process oil produced from the Banyu Urip field in the Cepu oil block in East Java, will be delivered to Indonesia by the end of next month.

  • BNI ready to launch ATMs in Hong Kong

    State lender Bank Negara Indonesia (BNI) is looking forward to an increase in remittance transactions from Hong Kong, thanks to the company’s automated teller machines (ATMs) that are due to be installed there later this week.

  • Major banks on track to use six-digit PIN for credit cards

    Major lenders — Bank Central Asia (BCA), Bank Negara Indonesia (BNI) and Bank Mandiri — are on track to comply with the central bank’s regulation that will require the use of a six-digit personal identification number (PIN) for credit card transactions, their senior executives said.

  • Industry Ministry to focus on strategic sector

    The Industry Ministry has pledged to continue developing strategic sectors amid a shift of government priorities and a marginal increase in the ministry’s 2015 budget.

  • Regional funds surge despite their low economic impact

    Consuming one-third of total spending, transfer funds to regions are under the spotlight for their trivial role in propelling local economies, despite their enormous amounts.

  • Asia stocks make slight gains, await Yellen speech

    Asian stock markets got a slight boost Wednesday from positive U.S. economic figures that reinforced expectations of eventual Fed rate hikes and a stronger dollar.

  • Energy board raises alarm, demands breakthrough

    Indonesia’s National Energy Council (DEN) has warned the next administration that doing “business as usual” could trigger an “energy emergency” in the country and has provided policy recommendations primarily aimed at reducing the burdensome fuel subsidy and creating breakthroughs, especially in renewable energy.

  • Govt to revise rules on modern retail shops, franchises

    The government plans to revise two trade ministry regulations on modern retail shops and franchises, which it claims will improve the business climate in the domestic retail industry.

  • S. Korea’s new ambassador prioritizes CEPA

    During his courtesy call to Industry Minister MS Hidayat on Tuesday, the new South Korean Ambassador to Indonesia, Cho Tae-yong, stated his intention to resume talks on a bilateral comprehensive economic partnership agreement (CEPA), which had reached a stalemate due to disagreements over a direct investment scheme.

  • Rupiah falls to 11,694 per dollar Wednesday morning

    The rupiah traded among banks in Jakarta on Wednesday morning depreciated by 15 points to Rp 11,694 per US dollar, down from the previous Rp 11,679 per dollar.

  • State companies asked to resist interference

    Senior executives of major state-owned companies said that political interference from either the government or major political parties has become common practice in most of the country’s state enterprises.

  • No politics in budget design, says Finance Minister

    The incumbent government has no hidden agenda to cause problems for Indonesia’s future leader, Finance Minister Chatib Basri has insisted, referring to the proposed 2015 state budget.

  • JCI strengthens 0.28% in morning trade

    The Jakarta Composite Index (JCI) opened on a positive note in Wednesday's first trading session, climbing 0.28 percent to 5,179.46.

  • AirAsia increases KL-Balikpapan flights

    Kuala Lumpur-based low-cost carrier AirAsia Berhad announced on Tuesday its plan to increase its Kuala Lumpur-Balikpapan flight service from three times a week to once a day in mid-October this year.

  • BPDs lack access to new capital

    Access to new capital and corporate governance continue to be the biggest challenges that Indonesia’s regional banks (BPDs) face in supporting their rapid growth in loans, according to Fitch Ratings in its latest report.