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Search Result “My Pertamina”

A Faulty Logic in Managing the Economy

THE world economy is grinding slowly. Recession is right at our door. The World Trade Organization (WTO) estimates that international trade this year only grew by 1.2 percent, it is the lowest since 2009. World trade is a vital engine for the economy. If it slows down, business activities around the world will turn anemic.

Market Pulse Tuesday, October 8, 2019 Edition

The Cyber Army's Attack

For the first time, the Muslim Cyber Army Movement declared its hunt against people they believe have insulted ulamas or Islam through the @MuslimCyberpage Facebook account on May 21. Their invitation soon went viral. In just one week, reports of acts of persecution emerged across several regions.

Law Tuesday, June 6, 2017 Edition

A Bank Run to Subvert the Economy

The thinking of those calling for the withdrawal of savings from banks is short-sighted. They have been blinded by the increasingly heated dispute in the run up to the Jakarta gubernatorial election, which is now involving issues of race and religion, and which has spread into the banking sector. This agitation is foolish because it could trigger a financial crisis.

Finance Minister Sri Mulyani was understandably furious about the appearance of a misplaced propaganda spreading on social media. She even asked the police to arrest the troublemakers seeking to justify their political aims by any means. The problem is that the banks are the most important basis of the economic system. If the banks are destabilized, the economy will grind to a halt because the cycle of investment will be halted and the engine of growth will stall.

Opinion Tuesday, November 29, 2016 Edition

A Tomy-Buwas Confrontation

TOMY Winata gave several unusual messages during a fast-breaking event in early June. "I don't want to obstruct the careers of these young officers," one participant of the meeting told Tempo last week, quoting what Tomy said at the Hotel Borobudur gathering in Central Jakarta.

Tomy also spoke of narcotics eradication. "If anyone in my family uses drugs, break their leg first then report it to me," said the Artha Graha group boss. He also bragged about being acquainted with senior police officers. Three Bareskrim investigators, who were present, mostly stayed quiet during the 90-minute meeting.

Cover Story Tuesday, August 30, 2016 Edition

Coordinating Minister for the Economy Darmin Nasution:
There are still holes here and there

SINCE September last year, the government has issued 12 economic policy packages aimed at attracting investments and accelerating growth. However, there are hurdles making the policies difficult to implement.

"It will be good if we can survive," Coordinating Minister for the Economy Darmin Nasution said in an interview at his office on June 29. To Tempo reporters Agus Supriyanto, Akbar Tri Kurniawan, Ayu Prima Sandi, Ali Nur Hidayat and Gustidha Budiartie, the former Bank Indonesia governor spoke about problems hampering the effectiveness of deregulations.

Cover Story Tuesday, July 12, 2016 Edition

Azwir Malaon
Assistant Deputy Minister, Ministry of Tourism Development and Creative Economy

Indonesia is endowed with a rich biodiversity that offers the country huge potential to develop a tourism industry based on an environmentally responsible program. Compared to conventional tourism, ecotourism offers extra benefits. Besides generating revenue, it is an effective medium for education and environmental conservation. Take the biodiversity park in Bangka-Belitung, developed by a group of local environmentalists. They succeeded not only in revitalizing the local economy badly affected by the collapse of the tin industry, they have also proven that through ecotourism, both local residents and tourists can be taught to conserve nature.

Azwir Malaon, deputy assistant minister for tourism at the ministry for tourism development and creative economy, said that these benefits would enable them to maximize Belitung's eco-tourism potential in the next three years, among others, by improving infrastructure and involving both the public private sectors. "Efforts to conserve nature, to improve people's welfare and to boost revenues can go hand in hand," he said. Two weeks ago, Azwir sat down for an interview with Tempo in his Jakarta office. Excerpts:

Outreach Tuesday, May 31, 2016 Edition

Soap Academy

AYU Ekaristi is not like most high school students. She does not spend her afternoons playing sports or enjoying other typical afterschool activities.

When the final bell rings and school lets out, she gets to work, scouring Denpasar, Bali, for potential customers for 4Dem S.C., the company she runs with her Vocational High School No. 4 (SMK 4) classmates. "My tasks include public outreach to promote our products," the 17-year-old said.

Outreach Tuesday, May 10, 2016 Edition

Not Quite the End of Alchemy

Central banks are impotent and out of ammunition. There is much talk about this ridicule among economists, seeing central bankers' futile efforts to recover optimism and economic growth. No less than Mervyn King, former Bank of England governor, had to admit that sense of powerlessness in his new book The End of Alchemy.

King's confession carries some truth. Various central banks, like those in Europe and Japan, have deployed a myriad of policies-from quantitative easing, which is basically printing money to buy government bonds, to squeezing the interest rates to a negative level. And still, the economy refuses to rise from its stupor.

Economy Tuesday, April 26, 2016 Edition

Saving Business and the Economy

Happy 2016. We all need a moment of prayer when facing tough challenges. Indonesia, especially, a country whose economic health depends very much on commodity prices, continues to remain soft.

One key factor determining our economy's 2016 destiny is China. When its economy grows, there is hope that commodity prices will move in sync. In turn, the trickle effects from rising commodity exports should help lift Indonesia up.

Economy Tuesday, January 5, 2016 Edition

A Foreign Investor's View: Will Indonesia's Economy Recover?

After five years of steadily deteriorating economic performance, the Indonesian economy may be in the process of turning around. After reaching a 21st-century high of 6.4 percent in 2010, the country's GDP growth rate has been lower every year since. It is unlikely to be higher than 4.7 percent this year, the lowest level since the 2009 global crisis. There are now some signs that the slump may be ending, however, and 2016 growth may exceed five percent. What caused the last five years of decline? What is causing the fledgling recovery and what are its prospects for success?

Changing Directions

Special Report Tuesday, December 29, 2015 Edition

The Economy: Not Out of the Woods Yet

Our economy has gone through a rough patch last year and, unfortunately, the prognosis for this year remains cloudy. Depending on one's view of the market's potential reaction to a much-awaited US interest rate hike, there are two opposing views emerging. At the optimistic end are those who expect a slight bump, noting that asset prices have already factored in the upcoming rate hike. But, at the other end are those expecting a bigger jolt. People in this camp are worried about a toxic mix of a significant weakening of emerging-market currencies and a large US dollar public and private debt burden, all of which could translate into a major crisis. With the continuing global economic malaise, even the US economy might not be immune to this potential crisis, the pessimists further argue. For Indonesia, this camp points to a weaker 2016 growth of 4.5 percent, at best.

However, even the optimists are cautious, with their subdued 5.0-5.3 percent forecast. The positive scenario starts with a weak first half of 2016, a carryover from this year. The difference, however, is that with inflation brought down to Bank Indonesia's comfort range of 4-5 percent and a benign market reaction to a rise in US interest rates, a much sought-after cut in Bank Indonesia's interest benchmark rate could happen as early as the second quarter of 2016. This, the optimists argue, should breathe some life into the lackluster economy in the second half of 2016 and point to a stronger 2017 outlook.

Special Report Tuesday, December 29, 2015 Edition

Agus Martowardojo, Bank Indonesia Governor
There will be shocks but a better economy

Although growth is still predicted at around 4.8 percent, the plunging value of the rupiah has battered Indonesia's economy in 2015. Hence the spotlight on Bank Indonesia, the central bank, and its efforts to safeguard monetary policy. The problem is that the Federal Reserve's decision to postpone deciding on the interest rates to next year is simply feeding more speculation. With the Chinese economy continuing to slow down, the situation is still far from comfortable for the Indonesian economy. "External conditions will still contribute to the stability of the financial markets and the stability of the financial system," Bank Indonesia Governor Agus Martowardojo told Tempo reporters Tomi Aryanto, Yandhrie Arvian, Ayu Prima Sandi and Andi Ibnu in an interview at the end of October.

Cover Story Tuesday, November 3, 2015 Edition

Fajar Hutomo, Deputy Director, Access to Finance, Creative Economy Agency
Crowdfunding is a Solution to Financing

Crowdfundingfinancing a project or a business by raising money from the publicis a relatively new trend in Indonesia. According to Fajar Hutomo, Deputy Director of Access to Finance at the Creative Economy Agency, it has only become popular five years ago. But actually, Indonesia is familiar to koperasi (cooperatives), a collective system of funding. "That's the original Indonesian crowdfunding," said Fajar.

Crowdfunding is a project-based systemnot a long term financing institution. Nevertheless, its effectiveness has been proven through the use of local websites such as kitabisa.com or wujudkan.com, that have successfully financed various charities, startup businesses, as well as social entrepreneurship.

Outreach Tuesday, September 29, 2015 Edition

Darmin Nasution, Coordinating Minister For The Economy
When The Economy Slows Down, Find A Way To Push It Forward

The last time former Bank Indonesia governor Darmin Nasution involved himself with the government was in 2013. Yet when he did rejoin, it was straight towards an economic morass. This time around, he was made coordinating minister for the economy, replacing Sofyan Djalil. Darmin is new in the cabinet, yet he faces a daunting task: to ensure that Indonesia gets away from the global economic storm.

Interview Tuesday, September 15, 2015 Edition

Triawan Munaf, Creative Economy Board Chairman :
We can create new billionaires

THERE is no question that Triawan Munaf's background qualifies him to be chairman of the Creative Economy Board (Bekraf). He certainly is no stranger to the world of creative industry. During the 1970s he was a vocalist with the Bandung-based rock band Giant Step and a decade later, set up the Euro RSCG Adwork company. The company was the agency that came up with the logo of a red bull, which is now the icon of the Indonesian Democratic Party of Struggle (PDI-P). "I have worked with creative people for decades," said Triawan.

He is convinced that this sector has huge potential. In his books, the potential can earn Rp500 trillion, or seven percent of Indonesia's gross domestic product (GDP). He predicts that five years from now, this figure can double to 14 percent of GDP. He cites as example, the popular computer game 'Slide The Block', which was created by Alegrium, a local company. "This game is now rated in the top four by the App Store. Amazing, right?" said Triawan.

Interview Tuesday, February 24, 2015 Edition

Sudradjat Coconut Expert, Bogor Institute Of Agriculture
If Our Economy Is To Be People-oriented, The Coconut Industry Must Be Better Developed

It has been 30 years since Sudradjat 'fell in love' with coconuts. The thesis and dissertation of this lecturer of Agronomy and Horiculture at the Bogor Institute of Agriculture (IPB) were all about coconuts. He claimed to have been attracted to the philosophy of the cocounut tree-also known as 'the tree of life'. The coconut can grow anywhere and it has become, "the symbol of beauty in the tropics," said Sudradjat.

Outreach Thursday, January 1, 1970 Edition

Blasphemy by Social Media

I Wayan Hery Christian rushed out of his prison cell at the Maesa Detention Center in Palu, capital of Central Sulawesi. He wore a white T-shirt and black jeans and beamed when he saw his attorney, Nurhana, who visited him around noon on Wednesday last week. "When will the execution letter be issued, Bu?" he asked. "Just wait," the lawyer said.

Christian is in prison for the crime of blasphemy. The Palu District Court sentenced the Palu College of Pharmacy student to seven months behind bars for spreading hatred of an ethnic, religious, racial or intergroup nature on the social network, Path. "The defendant is found guilty of blasphemy by means of information technology pursuant to Article 28 paragraph 2 in conjunction with Article 45 paragraph 2 of the Electronic and Transaction Information Law," presiding judge Abdul Halim Amran said as he read out the verdict three weeks ago.

Law Thursday, January 1, 1970 Edition

A New Focus on Creative Economy

In a plenary meeting at the House of Representatives (DPR) on Tuesday last week, a wave of legislators interrupted the proceedings to question a number of changes the new president has announced for his cabinet. Among other things, they questioned Persident Joko Widodo's break-up of the Tourism and Creative Economy Ministry, which no longer included the creative economy aspect.

Legislators from the Golkar Party and the National Mandate Party (PAN), which supported failed presidential candidate Prabowo Subianto in the July election, said they would write President Jokowi about the matter. "The Creative Economy Ministry was promised in the campaign but now it has been eliminated," said Tjatur Sapto Edy, chief of the PAN's faction in the House.

National Tuesday, November 11, 2014 Edition

Muhamad Syukur IPB Professor of Agronomy and Horticulture
Needed: One plant breeder for every 1,000 farmers

During the corner-stone laying ceremony of the Bogor Institute of Agriculture (IPB) back in 1961, former President Sukarno requested that IPB produce as many agronomists and horticulturists as possible. "He knew the diversity of Indonesia's environment, and agronomists and plant breeders were needed everywhere in the country," said Muhamad Syukur, Professor of Agronomy and Horticulture at IPB.

According to Syukur, commodity plants would grow better if they were studied and treated so their genes could be improved to become better varieties. Tempo English reporter Syari Fani interviewed him two weeks ago on the problems faced when cultivating plants.

Outreach Tuesday, November 11, 2014 Edition

Moeldoko, TNI Commander in Chief:
I want to be a hero to my troops

WEDNESDAY last week was a happy day for Indonesia's Armed Forces (TNI) chief commander, Moeldoko, who celebrated 29 years of his marriage to Koesni Harningsih. The front porch of his home in Central Jakarta was full of congratulatory floral wreaths and bouquets.

Inside, the happy couple sat across a table on which the ceremonial, conical rice dish was placed. Moeldoko, clad in his four-star army uniform, sitting next to his wife Koesni, recalled how they first met. "There wasn't much of a courtship. We met, I proposed and she said yes," joked Moeldoko.

Interview Thursday, January 1, 1970 Edition

AINUN NAJIB, KAWALPEMILU.ORG fOUNDER:
Here's my data, where's yours?

AINUN Najib's eyes were glued to the iPhone he held, occasionally moving his thumb on the screen, when Tempo met him at the lobby of a well-known hospital in Singapore, on Saturday last week. Ainun had been reluctant to give an interview, given the notoriety kawalpemilu.org, the site he created, had gotten in his home country, these past few weeks.

He had lain low the past two days, on information that a certain person claiming to work for the campaign of one of the presidential candidates was hunting for him. "I must lie low before July 22," Ainun told Tempo. That was the date the General Elections Commission (KPU) was scheduled to announce the official final tally of the presidential election. He was willing to be interviewed after he checked out the background of the Tempo reporter Mahardika Satria Hadi, whom he met in Singapore. "My apologies for having to cross-check you first," said Ainun. But when he did agree to speak about it, he spoke intensely and passionately about the election vote-count website he created overseas, together with two of his colleagues.

Interview Thursday, January 1, 1970 Edition

THE CONFESSION OF 74-YEAR-OLD PETRUS CANISIUS BARA:
I Killed my Own Kin

On March 29, 1966, I was teaching at the Ledemanu primary school in the regency of Sabu Raijua, East Nusa Tenggara (NTT), when a military man from Kupang summoned me to carry out a state duty on the Island of Sabu. I was forced to do so, I did not go voluntarily.

There were 61 others in the extermination team. The calculation was that one Indonesian Communist Party (PKI) prisoner had to be guarded by two persons. Thirty-one prisoners would be executed that night. So, there were 62 guards, including myself.

Literature Thursday, January 1, 1970 Edition

Foiled Again by Tommy Suharto

The Attorney General’s Office appears to have given up trying to get its hands on Tommy Suharto’s money in Bank Paribas in the UK. The corruption allegations relied on were weak and easily fended off by Tommy’s lawyer. The government will now focus on Tommy’s money in PT Timor Putra Nasional.

Law Wednesday, March 23, 2011 Edition

Indonesian Economy 3rd quarter 2010
Lost Momentum at Last Quarter

Indonesia's economy fell just short of the estimated growth rate. Predicted to reach over 6 percent, the economy fared unsteadily at the end of the quarter and only grew by 5.8 percent, caused by a drop in agricultural performance following harvest failures and extreme weather. Food prices soared. Inflation ran high. The situation was worsened by limited electricity resulting from minimum new infrastructure. Government expenditure, normally involving large amounts, was less intense. The weak budget absorption led to less optimal development and contributed to the lack of liquidity on the financial market. Consequently, the initial economic revival was restrained. The momentum for greater strides was unnecessarily wasted.

Economy Wednesday, December 15, 2010 Edition

Is Regional Autonomy Working?

Eleven years after regional autonomy was launched in Indonesia, centralized power was redistributed around many parts of Indonesia. But the intended result of equitability remains out of reach. A number of the new provinces have made good of their autonomy, yet others remain poor if not worse off. Weak rural economies have not been helped by the worsening infrastructure. In retrospect, was regional autonomy a mistake? A special report by a joint production of Koran Tempo and Tempo English Edition on how autonomy has affected Kalimantan, Flores and Papua.

Outreach Wednesday, September 22, 2010 Edition

Indonesian Economy 3rd Quarter 2008
Still High, Positive Signals

The national economy is not as lethargic as many people think. Although lower than the second quarter, Indonesia's economic growth in the third quarter is relatively high at 6.1 percent. In the next few months there will be positive signals. Declining commodity prices are relaxing pressures on inflation. Bank Indonesia may lower interest rates starting the beginning of the next year. The business world and consumption sector may still grow. As such, economic growth is estimated to remain high. But the government must be prudent. Non-performing loans in the plantation sector have the potential to increase.

Economy Tuesday, December 9, 2008 Edition

Whitewashing Tommy’s Money

Questions still remain regarding the release of funds belonging to Motorbike Corporation, a Bahamas-based company owned by the convicted Hutomo Mandala Putra alias Tommy Suharto. The law firm owned by Minister Yusril Ihza Mahendra helped him to get this money, which was released from Bank Paribas London in February 2005.

Supporting documents from a number of government offices and state institutions were obtained, thanks to the assistance of one of the subordinate officials working under Yusril, who at that time was the Justice & Legal Affairs Minister. This official even used a departmental bank account—as authorized by Minister Hamid Awaludin, Yusril’s successor. What was the motive for Yusril and Hamid to assist in the release of that Rp90 billion?

Cover Story Tuesday, March 13, 2007 Edition

Tommys Money and Two Ministers

The disputed case of the Rp425 billion owned by Tommy Suharto will be heard in the Guernsey District Court, Great Britain. The Indonesian government has prepared a stack of documents in order to prove that these funds were illegally obtained by means of corruption, collusion and nepotism, carried out by the youngest son of former President Suharto.

Tommy insists the money is his.

However, one point has escaped the publics notice: in 2004 Tommy withdrew Rp90 billion of his money from the London branch of Bank Paribas. The bank was willing to release the money because the Indonesian government had guaranteed that the money was not in dispute. Tommy had hired the Law Offices of Ihza & Ihzafounded by former Minister of Justice & Legal Affairs, Yusril Ihza Mahenderato handle the disbursement of the money. Was Yusril involved? And how far did Justice & Human Rights Minister Hamid Awaludin intervene in the case?

Cover Story Tuesday, March 6, 2007 Edition

15 Days on the Hunt for Tommy

It is not easy to catch Tommy Suharto, the fugitive connected with PT Goro Batara Sakti's property-swap scam who has disappeared for nine months. Greater Jakarta Police's Special Detective Team have ransacked a number of places and tailed many people, but Tommy has proved slippery. The son of Suharto even stopped by his sister's house on July 15 for her birthday party, despite the Cendana area being the police's top priority target area. Just where have the police found Tommy's trail?

Cover Story Tuesday, August 14, 2001 Edition

Why is Karen quitting pertamina

KAREN Agustiawan's meeting with the head of the United Federation of Pertamina Labor Unions (FSPPB), Ugan Gandar, was supposed to deal with a cooperation agreement. Then the subject shifted to a hotter topic. "Is it true you're going to resign?" Ugan asked Karen, CEO of Pertamina, the state oil and gas company.

Karen did not deny it. The 56-year-old woman confirmed her plan to step down. At first, she said she wanted to focus on her family and give lectures at Harvard University in the United States. Unsatisfied with that answer, Ugan pressed further. "Finally she admitted she was resigning because she refused to be victimized," Ugan told Tempo.

Economy Tuesday, August 26, 2014 Edition

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