January 5, 2016 edition
MINING
Freeport Boss Resigns
Freeport McMoran founder James Moffett resigned from his position as the company's chairman of the board last week. Freeport McMoran shares continued to decline at the stock exchange. Moffett was reported to have made a wrong decision in capital expenditure amid plunging oil and gas prices. As a result, Freeport suffered massive losses. By September 2015, losses amounted to US$8.15 billion. During the same period last year, Freeport enjoyed profits of US$1.54 billion. In addition, share value continued to fall, from US$ 60 to US$ 6.86 per share.
Freeport Boss Resigns
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TRADING
E-Commerce Transactions Grow Five-fold
The government aims for a significant growth in e-commerce transactions in Indonesia next year. Fetnayeti, business development director at the trade ministry, expects online trade turnovers to skyrocket by 554.4 percent, from Rp34.9 trillion to Rp224.9 trillion. "This is why the Ministry of Trade and the Ministry of Communication and Information Technology actively support the development of online businesses," she said at the National Online Shopping Day presentation last week.
E-Commerce Transactions Grow Five-fold
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December 8, 2015 edition
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