October 6, 2015 edition
OIL
Pertamina Lowers jet fuel Price
Pertamina has lowered the price of avtur jet fuel by 5.23 percent. The price decrease is effective for purchases at Soekarno-Hatta Airport starting October 1, 2015. "It's an initial step for avtur price adjustments in Indonesia," said a spokesperson for the state oil and gas company, Wianda Pusponegoro, on Wednesday last week.
Pertamina Lowers jet fuel Price
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More Weekly Business articles in other editions
September 29, 2015 edition
FOOD
Rice Imports Likely
Vice President Jusuf Kalla says the government may need to import rice in anticipation of the El Nino impact. "This is about the drought. We do not want to sacrifice the public (welfare), that is why we will allow import possibilities to begin as soon as possible," he said after chairing a meeting last week.
Rice Imports Likely
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September 22, 2015 edition
INFRASTRUCTURE
China Wins Bandung-Sumedang Toll Road Project
The Metallurgical Corporation of China is to build section II, stage II of the Cileunyi-Sumedang-Dawuan (Cisumdawu) toll road. The company will head a consortium that includes Wijaya Karya, Nindya Karya and Waskita Karya on a contract worth Rp3.48 trillion. The ownership split will be: Metallurgical 65 percent, Wijaya Karya 20 percent and Nindya and Waskita, 7.5 percent each.
China Wins Bandung-Sumedang Toll Road Project
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September 8, 2015 edition
THE GLOBAL ECONOMY
IMF Asks Jokowi to Improve the Exchange Rate
IMF Executive Director Christine Lagarde has advised Indonesia to strengthen its fiscal policy, bolster its foreign exchange reserves, and better manage the exchange rate. She delivered the recommendations to President Joko Widodo in a meeting last Wednesday. She also praised the government's policy of reducing fuel subsidies and dedicating a larger portion of the state budget to infrastructure development.
IMF Asks Jokowi to Improve the Exchange Rate
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August 25, 2015 edition
MONETARY
Foreign Exchange Purchases limited
Bank Indonesia is poised to tighten up purchases of foreign currency in an effort to reduce the speculation that is pushing down the rupiah's exchange rate. The central bank has announced it will reduce the lower limit on purchases required to include an underlying transaction report, from the previous US$100,000 per month to US$25,000.
Foreign Exchange Purchases limited
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August 11, 2015 edition
FINANCE
IMF Postpones Making Yuan a World Currency
THE International Monetary Fund (IMF) has delayed deciding on whether or not to adopt the Chinese yuan as a reserve currency until September 2016. The decision was made after IMF officials declared they needed more information before making a decision. "This is in order to avoid any money market disturbances," one IMF official explained, as quoted by Reuters last Wednesday.
IMF Postpones Making Yuan a World Currency