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Today's Headlines Erick Thohir

  • Suning Holdings Group Acquires Inter Milan from Indonesia's Erick Thohir

    FC Internazionale Milano (or simply Inter Milan) will go into Chinese hands after Indonesian businessman Erick Thohir and former Inter President Massimo Moratti agree to sell a stake in the Italian football club to China-based electronic retailer Suning Commerce Group. Three years ago media tycoon Thohir, founder of the Mahaka Media Group, purchased a 70 percent stake in Inter Milan, a deal worth around 300 million euro. Suning Commerce Group will now acquire a controlling 68.55 percent stake in Inter. Thohir remains as president with a 31 percent stake.

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  • Indonesia and the Panama Papers: Names and Numbers

    Reportedly, around 3,000 Indonesian individuals and companies are mentioned in the Panama Papers, the massive leak involving around 11.5 million confidential documents from the database of the world's fourth-largest offshore law firm, Mossack Fonseca. These documents show how political figures as well as celebrities, sport stars and businessmen exploit secretive offshore tax regimes. Icelandic Prime Minister Sigmundur David Gunnlaugsson became the first victim of the leakage (he resigned on Tuesday). What about Indonesia and the Panama Papers?

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  • Muhammad Lutfi Replaces Gita Wirjawan as Indonesia's Trade Minister

    Indonesia's President Susilo Bambang Yudhoyono will officially appoint Muhammad Lutfi as the new Trade Minister on Friday (14/02), thus replacing Gita Wirjawan who requested to step down as Trade Minister on 31 January 2014 in order to focus solely on his presidential bid. Muhammad Lutfi will only have eight months time to head the Trade Ministry because a new Indonesian government will be inaugurated in October (legislative and presidential elections are scheduled for April and July 2014).

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  • Indonesian Businessman Buys 70% Stake in Football Club Inter Milan

    Indonesian media tycoon Erick Thohir bought a 70 percent stake in football club Inter Milan of Italy. Thohir, one of the richest businessmen in Indonesia and who already holds large stakes in Philadelphia 76 (NBA) and DC United (Major League Soccer), paid about 300 million euro to obtain the 70 percent stake in the three-time European Champions League winner. The deal, which took months to finalize, was announced by Inter Milan president Massimo Moratti. Foreign ownership of football clubs has been a recent phenomenon in Europe.

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Latest Columns Erick Thohir

  • The Role of State-Owned Enterprises in the Indonesian Economy

    One characteristic of the Indonesian economy is that the state-owned enterprises (SOEs) play an important role in this USD $1.0 trillion economy. They not only play an important role because some of them rank among Indonesia’s biggest companies (in terms of profit, sales and assets), thereby generating plenty of money for the government (in the form of tax revenue or dividend) while at the same time creating jobs for millions of Indonesians.

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