June 21, 2016 edition
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Cover Story
Questionable Cash
Weekly Business
Weekly Business
Economy
To Stop the Bleeding
Cover Story
Investigation continues into the alleged bribery related to the drafting of regional regulations covering land reclamation on the north shore of Jakarta. Starting with the peculiarities over the collection of additional contributions, the Corruption Eradication Commission (KPK) looked into suspected outlays of money from reclamation developers to the Friends of Ahok, a volunteer group supporting Jakarta Governor Basuki Tjahaja Purnama's candidacy as an independent in the upcoming gubernatorial election. Billions of rupiah are believe to have flowed.
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Weekly Business
BANKING
BI Rate Slashed to 6.5 percent
At a two-day meeting, Bank Indonesia's board of governors agreed to cut its benchmark interest rate (BI Rate) by 25 basis points to 6.5 percent, effective from June 17. The drop is the fourth this year, following 25-point cuts in the months of January, February and March.
BI Rate Slashed to 6.5 percent