• Economic Minister Hatta Rajasa Says Government Won't Join a Currency War

    Recent concerns about a global currency war, which is considered to threaten worldwide economic and financial stability, has prompted Indonesia's Economic minister Hatta Rajasa to ensure that Indonesia will not participate in such a tactic. The Central Bank of Indonesia (Bank Indonesia) has in fact been selling US dollars to support the IDR rupiah, which has been under growing pressure lately due to Indonesia's current account deficit and the risk of capital outflows.

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  • Agreement Reached in Separation of Bakrie Group and Bumi Plc

    Agreement Reached in Separation of Bakrie Group and Bumi Plc

    Yesterday it was announced that the Bakrie Group, one of Indonesia's most controversial and richest conglomerates, has signed a heads of terms agreement that sets out conditions for the Bakrie's withdrawal from London-listed coal miner Bumi Plc. Bumi Plc, having the largest coal deposits in Indonesia at its disposal, was established in 2010 by British financier Nathaniel Rothschild and the Bakrie Group to bring coal assets to European investors.

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  • President Yudhoyono Back to Take Leadership of his Crumbling Democratic Party

    Just a few years ago, Susilo Bambang Yudhoyono's Democratic Party (in Indonesian Partai Demokrat or PD) enjoyed huge popularity among Indonesia's population. More than one fifth of the electorate voted for the 'Democrats' in the 2009 parliamentary election, a notable achievement in Indonesia's pluralistic society. In particular, the party's hard stance towards corruption was likened by the people. Now, however, the party crumbles under its own weight.

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  • BKPM: Foreign and Domestic Investment Realization Increases 18.7% in Q4 2012

    BKPM Indonesia Investments

    The Investment Coordinating Board (BKPM) of Indonesia announced today that investment realization figures for domestic and foreign direct investment in the fourth quarter of 2012 increased by 18.7 percent to IDR 83.3 trillion (US $9 billion) compared to the same period in 2011 (when it was IDR 70.2 trillion). For the whole year of 2012, the cumulative of investment realization is IDR 313.2 trillion, implying that it had surpassed the government target of IDR 283.5 trillion.

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