September 29, 2015 edition
Global financial markets have a tendency to adopt one main issue as a guidepost. Two weeks ago, people were worried whether the US Federal Reserve will raise interest rates. Now, the topic has shifted across the ocean to the Chinese economy.
Before the market's guidepost changed, the delay of the Fed's interest hike actually troubled Indonesia. The Fed, however, is still signaling that US interest rates could rise in the near future. So, in the end, leaving the decision hanging only perpetuates speculation and uncertainty. Both the government and Bank Indonesia are obviously facing more difficulty in setting the appropriate direction for macroeconomic or monetary policy, as they have to speculate on what the impact of the Fed's decision would be like.
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September 22, 2015 edition
Pertamina's proposal was the main item on the agenda at a recent limited Cabinet meeting held at the Presidential Palace. In the meeting, Pertamina CEO Dwi Soetjipto submitted plans by the state-owned oil and gas enterprise to build a terminal for the storage and piping of oil. With the facility, the company hoped to increase current fuel reserves from an average of 19 to 30 days.
There was not much disagreement on the subject at the meeting, which was chaired by President Joko Widodo. However, two days later, Coordinating Minister for Maritime Affairs and Resources Rizal Ramli came out strongly gainst the plan. He even claimed that there were people who were conspiring to manipulate the proposal for their own benefit. "I will take down anyone engaged in KKN (corruption, collusion, nepotism) practices. This must be a proposal from those who want to play 'project games'," Rizal said during a speech at the National Coordination Meeting of the Ministry for Maritime Affairs and Fisheries at the Grand Sahid Hotel.
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September 15, 2015 edition
The meeting in the office of the Coordinating Minister for the Economy Darmin Nasution was heated right from the start. A team from the Boston Consulting Group (BCG) was to reveal the result of their week-long study of two proposals, one from China and one from Japan, for a high-speed rail connecting Jakarta and Bandung.
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September 8, 2015 edition
THREE Pertamina executives arrived at the Trans Pacific Petrochemical Indotama (TPPI) refinery in Tuban, East Java, on Thursday two weeks agoDirector of Processing Rachmad Hardadi, Director of Finance Arief Budiman and Commissioner Widhyawan Prawiraatmadja. Twenty-eight others were also on hand to inspect the plant.
"We were checking everything about its operations," said Pertamina spokesman Wianda Pusponegoro, on Tuesday last week.
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September 1, 2015 edition
August 25, 2015 edition
Dozens of students swarmed the fried sausage vendor cart in front of State Junior High School 16 in Palmerah, Jakarta, on Thursday afternoon last week. The snack, made from processed beef and chicken, is a perennial favorite among schoolkids nationwide.
Most of the meat is still locally sourced. "But a growing number of products are imported," said National Meat Processors Association Executive Director Haniwar Sharif last Wednesday.
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August 17, 2015 edition