• Indonesia's International Reserves Fall to Support the IDR Rupiah

    Bank Indonesia's foreign exchange reserves have fallen by US $4 billion to US $108.8 in January from US $112.8 in December 2012. The current reserves translate to six months of imports and short-term government debt payments. Reasons behind the four percent decline are massive spending by Indonesia's Central Bank to support the weakening IDR rupiah in combination with overseas debt payments.

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  • Governor of Riau Declared a Suspect in Pekanbaru Corruption Case

    Today, the governor of the Riau province (on Sumatra), Rusli Zainal, was officially declared a suspect by the Corruption Eradication Board (KPK). Zainal is accused of taking bribes from the management of state-controlled Adhi Karya, a construction company, in exchange for a contract to build facilities for last year's National Games in Pekanbaru, the capital city of Riau. The KPK stated that they found convincing evidence to underpin its allegation.

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  • Demonstrations due to Unclarity about Jakarta's New Minimum Wage

    In late 2012, the local Jakarta government decided to increase the monthly minimum wage to IDR 2.2 million (US $229), a 44 percent increase from the previous standard. This rigorous change was one of the first policy changes of the newly elected Joko Widodo administration. Joko Widodo (often referred to as Jokowi) enjoys huge popular support and, similar to Barrack Obama at the start of his reign, provides hope to Jakartans, who have high expectations of his administration.

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  • Heavy Rainfall Causes Floods on Jakarta's Arterial Roads Again

    Floods Jakarta January 2013 Indonesia Investments

    Today, Jakarta was hit again by floods, brought on by heavy rainfall, that reached up to 50 centimeters at some locations and paralyzed part of Jakarta's traffic. Barely two weeks ago, Indonesia's capital city had experienced sustained floods that took the lives of more than 20 people and resulted in losses totaling US $3.3 billion. It might not be Jakarta's last day of floods as the rainy weather conditions are forecast to continue in February.

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