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Fuel prices lowered, again Indonesians will enjoy lower fuel, cooking gas and cement prices next week, yet prices of other goods and services may not immediately follow suit as business struggle with a weakening currency and high distribution costs.

Posted in Economy @ 17 January 2015 01:23 CET by Jeroen · permalink · 0 reactions


Bank Indonesia maintains benchmark interest rate at 7.75% Bank Indonesia announced on Thursday it decided to maintain its benchmark interest rate (BI rate) at 7.75 percent with lending facility interest rate at 8 percent and deposit facility at 5.75 percent.

Posted in Economy @ 15 January 2015 20:34 CET by Blog Bot · permalink · 1 reaction


Indonesian foreign debts increase to US$290.6 billion Indonesias foreign debts rose to US$290.6 billion by the end of July from US$284.9 billion a month earlier. The debts included US$134.2 billion owed by government and US$156.4 billion owned by the private sector, data at Bank Indonesia said.

Posted in Economy @ 18 September 2014 13:09 CET by Blog Bot · permalink · 0 reactions


Bank Indonesia allocates Rp3 trillion to print paper money Bank Indonesia, the central bank, has set aside Rp3 trillion per year to print paper currency, which is considered as a substantial amount, hence the government will encourage the use of non-cash transactions.

Posted in Economy @ 19 August 2014 13:38 CET by Blog Bot · permalink · 0 reactions


Indonesia aims for economic growth of 5.6% in 2015 The government has proposed an economic growth of 5.6 percent in the Draft 2015 State Budget, considering the improvement in economic fundamentals and economic stability as well as conducive external factors.

Posted in Economy @ 16 August 2014 00:23 CET by Blog Bot · permalink · 0 reactions


BCA to reduce interest rate for deposits above Rp25 billion PT Bank Central Asia (BCA) Tbk. has cut the interest rate for deposits above Rp25 billion from 9.25 percent to 9.0 percent from this month.

Posted in Economy @ 13 August 2014 23:20 CET by Blog Bot · permalink · 0 reactions


Jakarta stock index down, rupiah value falls The Jakarta composite index (JCI) fell 27.27 points in the first minutes of trade on Wednesday on negative sentiment from the escalation of conflicts in Ukraine. The index of the Indonesian Stock Exchange (BEI) opened 0.53 percent lower at 5,081.81 points with index of 45 most liquid stocks down 0.78 percent to 868.63 points.

Posted in Economy @ 06 August 2014 10:39 CET by Blog Bot · permalink · 0 reactions


BI: economic slowdown in Q2 in line with stabilization scheme Indonesias economic slowdown in the second quarter of this year was in line with macro-economic stability policy adopted by the government and Bank Indonesia aimed especially to control inflation and current account deficit, the central bank said.

Posted in Economy @ 06 August 2014 10:09 CET by Blog Bot · permalink · 0 reactions


Budi Mulya sentenced to 10 years` imprisonment Former deputy governor of Bank Indonesia Budi Mulya was sentenced on Wednesday to 10 years imprisonment by the anti corruption court with a fine of Rp500 million or an additional jail term of 5 months.

Posted in Crime @ 17 July 2014 02:03 CET by Blog Bot · permalink · 0 reactions


Antigraft activists applaud Akil’s life sentence A leading antigraft watchdog has applauded the Anti-Corruption Court’s decision to sentence former Constitutional Court chief justice Akil Mochtar to life in prison. “This verdict will not only give a deterrent effect but also send a message to other law enforcers not to commit corruption or take bribes,” said Emerson Yuntho, the legal monitoring coordinator of the Indonesia Corruption Watch (ICW), on Tuesday.

Posted in Corruption @ 02 July 2014 05:36 CET by Jeroen · permalink · 0 reactions


Bank Indonesia revises down economic growth target Bank Indonesia (BI) revised down its prediction of economic growth in 2014, from its initial 5.5-5.9 percent to 5.1-5.5 percent. "The factor that had made us revise the economic growth target down is the revision of export performance," BI governor Agus Martowardojo said at a press conference here on Thursday.

Posted in Economy @ 08 May 2014 21:23 CET by Blog Bot · permalink · 0 reactions


Boediono refuses to attend hearing on Bank Century scandal Vice President Boediono has refused to attend a hearing with the House of Representatives (DPR) team supervising the revelation of Bank Century bailout scandal on Wednesday, the Vice Presidents spokesman Yopie Hidayat stated.

Posted in C. Sulawesi conflict @ 19 February 2014 17:05 CET by Blog Bot · permalink · 0 reactions


House summons Boediono over Bank Century scandal Former Bank Indonesia governor Boediono will be summoned by the House of Representatives (DPR) monitoring team in relation to the Bank Century bailout scandal on Wednesday, a legislator stated here on Tuesday.

Posted in General @ 18 February 2014 23:00 CET by Blog Bot · permalink · 0 reactions


Bank Century scandal causes Rp7.4 trillion losses to the state Bank Century scandal caused a loss of Rp7.4 trillion in state fund, the Supreme Audit Agency (BPK) said on Monday. The loss was a result of short term loan facility (FPJP) to Bank Century, and the determination of the sick lender as a failed bank, which have potential systemic impact, BPK Chairman Hadi Poernomo said here on Monday.

Posted in Corruption @ 23 December 2013 21:17 CET by Blog Bot · permalink · 0 reactions


Decline of rupiah test for Bali tourist industry The rapid decline in the value of the Indonesian Rupiah against the U.S. Dollar and a host of other currencies is presenting a myriad of challenges to Bali and its tourism industry.

Posted in Economy @ 02 September 2013 08:01 CET by Blog Bot · permalink · 0 reactions


Central Bank: 'Indonesia loses two islands due to rupiah absence' Bank Indonesia Deputy Governor Ronald Waas said due to a rupiah absence two Indonesian islands namely Sipadan and Ligitan have gone.

Posted in Oddly enough ... @ 05 June 2013 20:04 CET by Blog Bot · permalink · 0 reactions


President officially inducts Chatib Basri as finance minister President Susilo Bambang Yudhoyono at the State Palace here on Tuesday officially installed Muhammad Chatib Basri as the new finance minister to replace Agus Martowardojo.

Posted in Politics @ 21 May 2013 17:47 CET by Blog Bot · permalink · 0 reactions


Supreme Court rejects Miranda Goeltom`s appeal The Supreme Court has rejected the appeal of former Bank Indonesia`s senior deputy governor Miranda Goeltom over a travel check bribery case, upholding her three-year jail term previously meted out by lower and appellate courts.

Posted in Corruption @ 26 April 2013 15:30 CET by Blog Bot · permalink · 0 reactions


Bank official dies during fit and proper test Syafaruddin Ashari, the International Banking manager of the North Sumatra provincial bank, "Bank Sumut", passed away here on Wednesday while undergoing a fit and proper test.

Posted in Oddly enough ... @ 17 January 2013 23:20 CET by Blog Bot · permalink · 0 reactions


Investigations in progress with regard to bailout scandal Indonesia`s chief anti-graft investigator, Abraham Samad, said investigations are being carried out with regard to the (Rp6.7 trillion) Bank Century bailout scandal.

Posted in Crime @ 07 December 2012 18:53 CET by Blog Bot · permalink · 0 reactions


KPK should not hesitate to follow up Century case A constitutional law expert from Brawijaya University, Dr. Ibnu Tricahyo, has stated that the Corruption Eradication Commission (KPK) should not hesitate to follow up the Bank Century bailout case even though it involves the Vice President.

Posted in Corruption @ 03 December 2012 18:26 CET by Blog Bot · permalink · 0 reactions


KPK, immigration launch online blacklisting system for corruptors The Corruption Eradication Commission (KPK) and the Directorate General of Immigration will launch an online blacklisting system for corruptors in an effort to increase efforts to fight corruption.

Posted in Corruption @ 25 October 2012 15:03 CET by Blog Bot · permalink · 0 reactions


Bali to develop tourist villages for elderly foreigners Bali Daily (The Jakarta Post) reports that Bali has plans to develop seven tourism villages catering to retired foreign visitors.

Posted in Tourism @ 13 October 2012 01:00 CET by Blog Bot · permalink · 0 reactions


Indonesian bank fugitive to be deported on Wednesday The Indonesia bank fugitive involved in the Bank Indonesia Liquidity Support (BLBI) program in the Bank Harapan Sentosa (BHS) case, Sherny Kojongian, has been deported from the United States and is scheduled to arrive in Jakarta on Wednesday (June 13).

Posted in Corruption @ 12 June 2012 14:11 CET by Blog Bot · permalink · 0 reactions


KPK detains Miranda Goeltom Former Bank Indonesia senior deputy governor Miranda Goeltom was detained on Friday as a suspect in an alleged bribery case, in connection with her election to her post in 2004.

Posted in Corruption @ 01 June 2012 18:47 CET by Blog Bot · permalink · 0 reactions


Bank Indonesia: 'Bank credit grows 26 percent' Bank credit grew 26 percent in April year-on-year, beating earlier estimates of 23-24 percent. Central bank deputy governor Halim Alamsyah said here on Monday that such growth indicated that the domestic economy was doing well.

Posted in Economy @ 07 May 2012 13:41 CET by Blog Bot · permalink · 0 reactions


Indonesia's Q1 economic growth to reach 6.5 percent Despite the global financial crisis, economic growth in Indonesia is estimated to reach 6.5 percent in the first quarter of 2012, according to Bank Indonesia (BI).

Posted in General @ 08 March 2012 17:29 CET by Blog Bot · permalink · 0 reactions


Indonesia to lower economic growth target Indonesia will revise downward its growth target for the 2012 budget from 6.7 percent to 6.5 percent, Finance Minister Agus Martowardojo has said.

Posted in Economy @ 07 March 2012 14:16 CET by Blog Bot · permalink · 0 reactions


Bali full of illegal money changers News Agency Antara reports that 40% of the moneychangers operating in Bali do not hold the required permits issued by Bank Indonesia. The Secretary General of the Association of the Foreign Exchange Dealers (APVA), Ayu Astuti D, said, “according to our data, 30-40% of the 146 (foreign exchange) companies headquartered in Bali are illegal.”

Posted in Economy @ 23 February 2012 14:05 CET by Jeroen · permalink · 0 reactions


Indonesia's foreign investment to surpass $19 billion in 2012 Foreign investment in Indonesia is projected to reach more than $19 billion this year, local media quoted Bank Indonesia officials as saying on Saturday.

Posted in Economy @ 14 January 2012 19:58 CET by Blog Bot · permalink · 0 reactions


President: 'Corruption, red tape obstructing economic growth' President Susilo Bambang Yudhoyono admitted here Friday that corruption and complicated bureaucratic procedures were still obstructing Indonesia`s economic growth.

Posted in Politics @ 24 December 2011 10:17 CET by Blog Bot · permalink · 0 reactions


Wanted bribery suspect Nunun Nurbaeti nabbed Coordinating Minister for Political, Legal and Security Affairs Minister Djoko Suyanto said here Saturday Nunun Nurbaeti, a suspect in a high-profile bribery case, has been arrested in Bangkok and brought back to Jakarta.

Posted in Corruption @ 11 December 2011 03:10 CET by Blog Bot · permalink · 0 reactions


President Yudhoyono calls for the arrest of more fugitives Indonesian President Susilo Bambang Yudhoyono on Thursday called on National Police to continue pursuing wanted fugitives following the arrest of Muhammad Nazaruddin.

Posted in Crime @ 12 August 2011 05:24 CET by Blog Bot · permalink · 0 reactions


Bank Indonesia: Growth rate to reach 6.6 percent Indonesia's central bank, Bank Indonesia, on Thursday forecast that the country's economic growth will reach 6.6 percent this year.

Posted in Economy @ 15 July 2011 02:11 CET by Blog Bot · permalink · 0 reactions


BI imposes harsh sanctions on Citibank Bank Indonesia (BI) announced Friday it was imposing severe sanctions on Citibank following a massive embezzlement scandal by a bank employee and the suspected death of a customer at the hands of debt collectors recently. The bank possibly faces other sanctions if found guilty of the two crimes by a court.

Posted in Economy @ 08 May 2011 07:15 CET by Jeroen · permalink · 0 reactions


Megawati refuses KPK witness summons Indonesian Democratic Party of Struggle (PDI-P) chairwoman Megawati Soekarnoputri has declined to comply with a summons to appear as a witness in the investigation of the Bank Indonesia vote-buying bribery scandal.

Posted in Corruption @ 20 February 2011 01:26 CET by Jeroen · permalink · 0 reactions


Minister makes impromptu visit to Cipinang Penitentiary Law and Human Rights Minister Patrialis Akbar made an impromptu inspection of Cipinang Penitentiary in East Jakarta, one of the penitentiaries being used to hold 19 former legislators who have been named suspects by the Corruption Eradication Commission (KPK) in a bribery case.

Posted in Corruption @ 30 January 2011 01:56 CET by Jeroen · permalink · 0 reactions


KPK detains 19 suspects in traveler check scam One by one, politicians considered bribery suspects were taken into custody by the Corruption Eradication Commission’s (KPK). KPK deputy chairman Haryono Umar confirmed Friday the commission had decided to detain the suspects who allegedly received bribes in connection with the election of a Bank Indonesia senior deputy governor in 2004.

Posted in Corruption @ 29 January 2011 03:42 CET by Jeroen · permalink · 0 reactions


Indonesian lawmaker denies requesting 100 billion bribe  Indonesian lawmaker Muhammad Hatta on Wednesday denied allegations that he requested a Rp. 100 billion ($11.11 million) bribe, the Jakarta Post reported.

Posted in Corruption @ 16 December 2010 01:16 CET by Blog Bot · permalink · 0 reactions


Bank Indonesia governor: 'Southeast Asia considers single currency' Bank Indonesia governor Halim Alamsyah has said the Southeast Asia region could consider an eventual currency convergence to strengthen the region's economy and facilitate international transactions.

Posted in Economy @ 11 December 2010 05:42 CET by Blog Bot · permalink · 0 reactions


Indonesia claws its way to economic superpower status Indonesia is one of the "rising stars" of emerging Asia and some economists believe this vast nation will one day become a regional superpower, behind only China and India, as global economic activity increasingly shifts towards east Asia, away from the faltering developed nations of the west and Japan.

Posted in Economy @ 03 October 2010 03:29 CET by Jeroen · permalink · 0 reactions


Moody's improves Indonesia debt rating The international ratings agency Moody's revised Indonesia's debt rating from stable into positive. The positive outlook shows the greater possibility that Indonesia may get to have a rating improvement within the next year.

Posted in Economy @ 23 June 2010 04:11 CET by Jeroen · permalink · 0 reactions


Bank Indonesia officials grilled over alleged money printing bribery Bank Indonesia deputy governor Budi Rochadi said an internal audit team had questioned four officials for their alleged involvement in a bribery case over the printing of Rp 100,000 bills in Australia. "The internal audit team has summoned four people from staff to director levels for questioning over the printing of the Rp 100,000 bills," he said in Jakarta.

Posted in Corruption @ 28 May 2010 03:28 CET by Jeroen · permalink · 0 reactions


Arrests made in Bali over ATM scandal Police in Bali and Jakarta have made a number of arrests in a scam that has fleeced larges sums of money from the bank accounts of people who used ATMs in Bali. The well-organized and sophisticated criminals reportedly installed an additional fake slot on an ATM Machine together with a small CCTV camera that recorded the password entered by the ATM customer.

Posted in Crime @ 25 January 2010 06:17 CET by Jeroen · permalink · 0 reactions


Tighter security after mass ATM skimming in Indonesia Banks in Indonesia are taking immediate steps to prevent the theft of their clients' money through their automatic teller machines (ATMs) after four banks reported theft of more than Rp5 billion (400.000 euro) in this way since Jan 16.

Posted in Crime @ 23 January 2010 13:00 CET by Jeroen · permalink · 0 reactions


Magnetic strip on bank cards may become a problem Bank Indonesia has decreed that, beginning in early 2010, all credit cards issued in Indonesia are required to contain a computer chip as an added security measure. A regulation issued by the Bank in April 2009 mandates the use of chips.

Posted in Economy @ 06 January 2010 01:22 CET by Jeroen · permalink · 0 reactions


Tourists staying shorter and spending less Despite growing tourist arrivals to Bali, recent information released by Bank Indonesia show that the amount being spent by tourist visitors to Bali is on the decline. Ida Bagus Viraguna Bagoes Oka who heads the Bali branch of Bank Indonesia, pointed to the changing composition of Bali visitors now dominated by Asians who stay for shorter periods and spend less on a per day basis while holidaying in Bali.

Posted in Tourism @ 04 October 2009 15:02 CET by Jeroen · permalink · 0 reactions


Former governor of Bank Indonesia goes to Cipinang prison Burhanuddin, a former governor of the Indonesian Central Bank has been given a three-year sentence for corruption by the Supreme Court. He will spend the prison term in the Cipinang prison in East Jakarta. "We have executed the verdict today," said the director for prosecutions of the corruption watchdog KPK, Ferry Wibisono earlier. While this case was handled by the special corruption court, Burhanuddin still had to spend the days before his verdict in detention at the national police headquarters.

Posted in Corruption @ 15 September 2009 06:42 CET by Jeroen · permalink · 0 reactions


Brand new from the roadside It is quite difficult to get them, those new 2,000 Rupiah bank notes. And it gets even more difficult when you want to have a bundle of 100 notes, like they are issued by Bank Indonesia. You would say that bringing a visit to a branch of Bank Indonesia to change these bank notes, but that is not entirely true.

Posted in Culture @ 07 September 2009 06:48 CET by Jeroen · permalink · 0 reactions


Bank Mandiri to buy 11% stake in Garuda Indonesia Bank Mandiri, the biggest lender in Indonesia, has announced that it will take an 11 percent stake in now state-owned Garuda Indonesia. All parties involved agreed on this share for Bank Mandiri. Under the plan, Mandiri will convert 100 million dollar of the bond debt into equity. The buy values Garuda Indonesia around 910 million dollar (635 million euro).

Posted in Garuda Indonesia @ 29 August 2009 13:15 CET by Jeroen · permalink · 0 reactions


Interest from government account stolen by officials The corruption watchdog KPK has ordered six banks in Java, Sumatra and Kalimantan to close accounts of provincial government officials that were receiving interest from savings accounts that belong to their local administrations. Haryono Umar, staff of the KPK said that the banks would bear incentives for government officials that parked government funds in savings accounts.

Posted in Corruption @ 26 August 2009 04:28 CET by Jeroen · permalink · 0 reactions


Old and dirty money; how to get rid of it You will all probably have experience with it. You have just paid in the local supermarket and your change is a pile of banknotes that are just a few euro cents in value. If you are lucky enough, they will add a handful of aluminum coins with even less value than those uang kertas ('paper money') as well.

Posted in Culture @ 06 August 2009 15:11 CET by Jeroen · permalink · 0 reactions


Key interest rate cut to 6.50 percent The board of governors of Bank Indonesia have decided yesterday that the benchmark interest rate was to be lowered with 25 basis points to 6.50 percent per year. "This decision was made after the board of governors concluded that the declining inflation rate continues in line with the limited domestic demand as well as the expectation of declining inflation," said Bank Indonesia in a statement.

Posted in Economy @ 06 August 2009 03:28 CET by Jeroen · permalink · 0 reactions


The little ones are back again! I had to do without them for quite some time as they were very rare in Yogyakarta. The last time I remember receiving one of them must have been more than two years ago by now. Not because they are not needed, it's just because making them is costly enough. Distribution is another problem, because of the sheer weight when you need to distribute a lot of them throughout the country.

Posted in Culture @ 28 July 2009 07:40 CET by Jeroen · permalink · 0 reactions


Bali property sector used for money laundring? Both BisnisBali and the Bali Post carry articles suggesting Bali has earned the dubious distinction of becoming a "heaven" for money launderers. The Head of the Bali branch of Bank Indonesia, Drs. Viraguna Bagoes Oka, speaking at a meeting on money laundering, said, "the potential (for money laundering) is very high in Bali, especially in light of the high level of investment activity."

Posted in Corruption @ 20 July 2009 03:29 CET by Jeroen · permalink · 0 reactions


New 2.000 Rupiah banknote officially released The Indonesian central bank, Bank Indonesia, has officially launched the new 2.000 Rupiah banknote today. The banknote with a value of 2.000 Rupiah is an addition to the current set of available values of 1.000, 5.000, 10.000, 20.000, 50.000 and 100.000 Rupiah. Bank Indonesia states that the banknote is fulfilling a need among the Indonesian population to have a value between the much-used values of 1.000 and 5.000 Rupiah.

Posted in Economy @ 09 July 2009 10:42 CET by Jeroen · permalink · 6 reactions


Indonesian exports down 23 percent in April Indonesian exports in April fell 22.5 per cent from the same month a year ago to 8.46 billion dollars, the Central Bureau of Statistics said Monday. Indonesia, South-East Asia's largest economy, had a trade surplus of 2.08 billion dollars in April because its imports dropped 45 per cent to 6.38 billion dollars, the bureau said.

Posted in Economy @ 02 June 2009 08:03 CET by Jeroen · permalink · 0 reactions


Indonesia cuts key interest rate by 25 basis points The Indonesian central bank (Bank Indonesia) Tuesday reduced benchmark rate by 25 basis points to 7.25 percent, a Bank Indonesia senior official said. "The decision to reduce the benchmark rate was made after the governor board learned about the ongoing economic developments in both the domestic and international market," said Strategic Planning and Public Relations Director at Bank Indonesia Dyah Makhijani.

Posted in Economy @ 05 May 2009 04:12 CET by Jeroen · permalink · 0 reactions


Indonesia's central bank cuts key interest Indonesia's central bank has reduced its key interest rate by a quarter percentage point to 7.5 percent. The governor of Bank Indonesia said Friday the decision was made after closely watching economic developments at home and abroad.

Posted in Economy @ 03 April 2009 02:36 CET by Jeroen · permalink · 0 reactions


Global financial crisis showing heavier effects on Indonesia Indonesia is suffering from the gradually increasing impact of the global financial crisis, with its export value growth in 2009 predicted to drop below zero. Indonesian central bank (Bank Indonesia)'s Deputy Governor Hartadi Sarwono said on Thursday that the country's export value is expected to drop 4.6 percent this year.

Posted in Economy @ 20 March 2009 08:32 CET by Jeroen · permalink · 0 reactions


Indonesia cuts rates by 50 basis points to 8.25% Bank Indonesia Governor Boediono and his board voted unanimously on Wednesday morning to cut interest rates by 50 basis points from the current 8.75 percent to 8.25 percent - exactly in line with analyst expectations.

Posted in Economy @ 04 February 2009 05:38 CET by Jeroen · permalink · 0 reactions


Four ex-BI officials formally charged in corruption case Four former Bank Indonesia (BI) executives have been formally accused of complicity in the illegal transfer of Indonesian Banking Development Foundation (YPPI) funds to a number of legislators and ex-BI officials in 2003.

Posted in Corruption @ 30 January 2009 05:45 CET by Jeroen · permalink · 0 reactions


2.000 Rupiah bank notes to be issued next year The State-owned bank notes printing company (Perum Peruri) executive-director Junino Jahja said his office will print Rp2.000 bank notes next year, in line with Bank Indonesia plans to issue the bank notes in 2009.

Posted in General @ 23 December 2008 05:32 CET by Jeroen · permalink · 0 reactions


Bank Indonesia to withdraw four banknotes from 1998 issue As of 31 December 2008, four banknotes which were issued in 1998, are no longer valid tender in Indonesia. The banknotes are officially withdrawn at the end of the year since they have been replaced by new ones in recent years. The banknotes that are withdrawn are the 10.000 Rupiah banknote with the image of Cut Nyak Dhien, the 20.000 Rupiah banknote with Ki Hajar Dewantara, the 50.000 Rupiah banknote with WR. Soepratman and the 100.000 Rupiah banknote with Soekarno and Hatta. The last one is made from polymer, not to be mistaken with the paper one, which will still be valid.

Posted in General @ 01 December 2008 05:07 CET by Jeroen · permalink · 0 reactions


Anti-corruption watchdog detains relative of Yudhoyono Indonesia's anti-corruption watchdog arrested a relative of President Yudhoyono in connection with the misappropriation of millions of dollars in bank funds, media reports said Friday. After several hours of questioning, Aulia Tantowi Pohan, the father-in-law of Yudhoyono's son, was arrested Thursday in connection with an 8-million-dollar graft case at the country's central bank.

Posted in Corruption @ 28 November 2008 07:27 CET by Jeroen · permalink · 0 reactions


Indonesian central bank keeps benchmark rate at 9.5% Indonesian central bank kept on hold its benchmark interest rate at 9.5 percent on Thursday, the bank said. "Amid the current global financial upheaval and slowing of the world economy, the Bank Indonesia (the central bank) thinks that it is necessary to keep a right monetary policy so that it can achieve a balance between the economic growth and efforts to maintain monetary stability," the bank said in a statement.

Posted in Economy @ 06 November 2008 11:17 CET by Jeroen · permalink · 0 reactions


Former Indonesian central bank governor jailed The former governor of Indonesia's central bank has been sentenced to five years in jail for corruption. Burhanuddin Abdullah, whose term as governor ended in May 2008 and who has always denied any wrongdoing, told the court he will appeal.

Posted in General @ 29 October 2008 10:18 CET by Jeroen · permalink · 0 reactions


Parliamentary commission agrees Indover rescue Indonesia's central bank may bail out a failed subsidiary in the Netherlands to avoid a possible sovereign credit rating downgrade, lawmakers said on Friday, in a deal that local media estimated could cost nearly $700 million. A Dutch court in early October froze assets and liabilities of Indonesische Overzeese Bank NV (Indover), a subsidiary of Bank Indonesia that is active in the interbank market, at the request of the Dutch central bank (DNB) amid the global credit crisis.

Posted in Economy @ 25 October 2008 10:09 CET by Jeroen · permalink · 1 reaction


Indonesia okays Niaga-Lippo merger PT Bank CIMB Niaga Tbk and PT Bank Lippo Tbk have received approval from Bank Indonesia, the countrys banking regulator, to merge their businesses. In a statement here Thursday, CIMB Group said the approval was given yesterday, paving the way for the first banking merger under the Indonesian government's single presence policy. CIMB Group chief executive, Datuk Nazir Razak, said the merger would create the fifth largest bank in Indonesia by assets.

Posted in Economy @ 16 October 2008 11:25 CET by Jeroen · permalink · 0 reactions


Indonesia keeps stock exchange closed Indonesia closed its stock exchange for the second day to halt a flurry of selling that sent the main stock index plummeting more than 20 percent this week, while Asian trading ended mixed. Stock exchange president Erry Firmansyah said it will remain closed to give investors a chance to "calm down before they make decisions."

Posted in Economy @ 09 October 2008 05:19 CET by Jeroen · permalink · 0 reactions


Bank Indonesia increases interest rate Bank Indonesia has increased its policy rate by 25 basis points to 9.5% as they continue their ongoing battle with inflation. Indonesia did not join Australia, who cut rates today by the highest since a recession in 1992. It is predicted however that today’s increase may be the last this year as the aim of the central bank moves onto supporting growth rather than continuing the fight against inflation.

Posted in Economy @ 07 October 2008 03:41 CET by Jeroen · permalink · 0 reactions


Indonesian authorities plan uniforms for accused corruptors There is growing criticism of Indonesian President Susilo Bambang Yudhoyono's decision not to dismiss two senior ministers, implicated in a Bank Indonesia corruption scandal. The situation has been further complicated in recent weeks by allegations that the father-in-law of President Yudhoyono's eldest son was approving the bribes.

Posted in Human rights @ 13 August 2008 15:36 CET by Jeroen · permalink · 0 reactions


Woman sentenced for five years in prison for bribing officer An Indonesian businesswoman was jailed yesterday for five years in a corruption scandal that has grown to include two senior members of President Susilo Bambang Yudhoyono's cabinet. Artalyta Suryani was found guilty of paying a prosecutor some 423,076 euro to drop an investigation into the misuse of central bank funds.

Posted in General @ 30 July 2008 02:53 CET by Jeroen · permalink · 0 reactions


Indonesia's economy likely grew over 6% for sixth quarter Indonesia's economy probably grew by more than 6 percent for a sixth quarter as the lowest interest rates in three years spurred spending on homes and cars. Southeast Asia's biggest economy expanded 6.2 percent in the three months to March 31 from a year earlier, about matching the 6.25 percent expansion in the preceding period, according to the median forecast of 17 economists in a Bloomberg News survey. The Central Statistics Bureau will release the data in Jakarta today.

Posted in Economy @ 13 May 2008 03:56 CET by Jeroen · permalink · 0 reactions


Chief of Indonesian central bank arrested on graft charges The anti-corruption commission in Indonesia has finally arrested the country's central bank governor on graft charges, a spokesman for the body said Thursday. The watchdog, which has been investigating Burhanuddin Abdullah since last February over the alleged misappropriation of 100 billion Rupiah in bank funds, said he was taken in for questioning early Thursday and later arrested.

Posted in General @ 11 April 2008 07:28 CET by Jeroen · permalink · 0 reactions


Indonesia 2007 GDP expected to grow at fastest pace in 11 years The Indonesian economy is expected to have grown at its fastest pace in 2007 since the country was hit by the Asian financial crisis 11 years ago, driven mostly by private consumption. Falling interest rates, a strong financial market performance, and an increase in pay for civil servants are expected to have underpinned the recovery in purchasing power, said Destry Damayanti, an economist at Mandiri Securities.

Posted in Economy @ 14 February 2008 14:08 CET by Jeroen · permalink · 0 reactions


Pertamina needs 70 million dollars per day for imports Pertamina is in need of twice as much foreign money because of high oil prices on the international market with prices reaching as high as 100 US dollars per barrel. Earlier today the general manager of PT Pertamina, Ari Hernanto Sumarno, said that Pertamina was in need of foreign money to pay for the imports of oil for the company. Pertamina has to buy oil from outside Indonesia, even if the prices rise. This is caused by the fact that the total production of oil in Indonesia is not sufficient to cover all of it's needs.

Posted in Economy @ 18 January 2008 05:50 CET by Jeroen · permalink · 0 reactions


Indonesia migrant workers bring in big bucks Migrant workers from Indonesia continue to make a huge contribution to the country's economy because the remittances they make. During the second quarter of 2007, these workers overseas send home some 1.1 billion euro. This is 5.4 percent more than the same period last year, according to data from Bank Indonesia. The central bank estimated that the figure for the full year will reach about 3.5 billion euro.

Posted in Economy @ 21 October 2007 06:07 CET by Jeroen · permalink · 0 reactions


Tommy denies latest corruption charges Hutomo "Tommy" Mandala Putra has denied charges about misappropriation of liquidity credits from Bank Indonesia which are said to be channeled to the Clove Marketing and Buffer Agency (BPPC). Tommy was chairman when the credits were disbursed and he said that the BPPC had returned all of the credits, which reached 759 billion Rupiah (59.76 million euro).

Posted in Corruption @ 18 August 2007 12:59 CET by Jeroen · permalink · 0 reactions


Indonesian economy grows fastest in more than 2 years Indonesia's economy grew at the fastest rate for over two years in the second quarter as exports rose and lower interest rates helped fuel spending and investment. The largest economy of Southeast Asia expanded 6.3 percent in the three months ending at 30 June after gaining 6.0 percent in the first quarter of the year, according to the Central Statistics Bureau BPS. Economists had expected a growth of 6.1 percent.

Posted in Economy @ 15 August 2007 12:29 CET by Jeroen · permalink · 0 reactions


Lower inflation in May 2007 Year-on-year inflation in Indonesia for the month of May is likely to be lower than the month before as prices of most basic goods were steady, according to the senior deputy governor of Bank Indonesia, the central bank on Thursday. The consumer price index was down 0.16 percent in April from March but was up 6.29 percent year-on-year.

Posted in Economy @ 01 June 2007 09:58 CET by Jeroen · permalink · 0 reactions


Indonesia cuts interest rate to 8.75% The Indonesian Central Bank has cut it's main interest rate by 25 basis points on Tuesday, in line with expectations. This is the 11th rate-cut in one year in response to falling inflation and a strong Indonesian currency.

Posted in Economy @ 09 May 2007 02:36 CET by Jeroen · permalink · 0 reactions


Indonesian central bank to leave Rupiah to market The central bank in Indonesia will allow the market to determine the exchange rates for the Rupiah, even if the currency strengthens beyond 9,000 against the dollar, as was said by deputy governor Aslim Tadjuddin on Friday. Soon after his comments, the currency did indeed break the psychological mark and rose to 8,975 per dollar.

Posted in Economy @ 07 May 2007 09:23 CET by Jeroen · permalink · 0 reactions


Indonesian money may be printed abroad The central bank in Indonesia is mulling printing the local currency overseas as state-run banknote firm Peruri can not meet the demand, as was told by an official today. Bank Indonesia, the central bank, currently needs 6.6 billion new banknotes in this year alone, but the bank calculated that Peruri is not able to print all of the notes within a given time period.

Posted in General @ 25 April 2007 16:54 CET by Jeroen · permalink · 0 reactions


Shares predicted to continue strong gains in 2007 Jakarta's main stock index is set for further heady gains this year, supported by improving economic conditions, firm commodity prices and subdued inflation which should give corporate earnings a boost, encouraging fresh capital into the sharemarket, analysts said. They are picking a gain of between 16-43 pct, after last year's 55 pct surge, which saw the composite index repeatedly setting new records to finish 2006 at an all-time high of 1,805.522 points.

Posted in Economy @ 09 January 2007 03:30 CET by Jeroen · permalink · 8 reactions


Bank Indonesia predicts economic growth between 5.7 and 6.3 % Bank Indonesia predicts the country`s economy will grow between 5.7 and 6.3 percent this year while the International Monetary Fund (IMF) forecasts it will grow by six percent. "The central bank`s board of governors predicts Indonesia`s economy will grow even higher and macro-economic stability would be maintained," BI governor Burhanuddin Abdullah said here on Thursday.

Posted in Economy @ 05 January 2007 05:17 CET by Jeroen · permalink · 0 reactions


Inflation plunges to 6.6 pct in 2006 Indonesia's inflation rate in 2006 plunged to 6.60 per cent from 17.11 per cent a year earlier, the Central Bureau of Statistics (BPS) said. Inflation in December 2006 reached 1.21 per cent with the food stuff group contributing the highest inflation data of 3.12 per cent to the monthly figure, BPS chief Rusman Heriawan said here Tuesday.

Posted in Economy @ 03 January 2007 12:00 CET by Jeroen · permalink · 0 reactions


Indonesia central bank cuts key rate to 14-month low Indonesia's central bank cut its benchmark interest rate to a 14-month low, the seventh reduction since May, to help revive consumer spending and boost investment. Bank Indonesia Governor Burhanuddin Abdullah and his fellow policy makers reduced the rate used as a reference for bill sales by half a percentage point to 9.75 percent, a move predicted by 16 of 21 economists surveyed by Bloomberg News, and indicated further cuts are likely next year.

Posted in Economy @ 08 December 2006 03:03 CET by Jeroen · permalink · 0 reactions


Kalla: 'Rupiah's strength is a concern' The Indonesian rupiah's strength is a concern and businesses in Southeast Asia's biggest economy may feel more comfortable if it weakened to about 9,500 against the dollar, Vice President Jusuf Kalla said.

Posted in Economy @ 24 November 2006 02:32 CET by Jeroen · permalink · 0 reactions


Banker predicts Indonesia's economy continue grow in 2007 A banker has predicted that Indonesia`s economy would continue to grow in 2007 following the lowering six times of Bank Indonesia`s reference rate by 250 base points and the active expansion of banking credits to customers. "The sign for improvement in Indonesia`s economy has been seen since the second quarter of this year with the falling of Bank Indonesia`s interest rate and that of the banking credits," Gunawan Geniusahardja, a commissioner of PT PermataBank, said here on Tuesday after presenting a public expose on subbordinate bonds of PermataBank.

Posted in Economy @ 14 November 2006 15:24 CET by Jeroen · permalink · 0 reactions


Bank of Indonesia cuts key rate for sixth time Indonesia’s central bank cut its benchmark interest rate for the sixth time since May and said borrowing costs may be reduced again in December, after inflation slowed to a two-year low and the currency strengthened. Bank Indonesia Governor Burhanuddin Abdullah and his fellow policy makers cut the rate used as a reference for bill sales by half a percentage point to 10.25%.

Posted in Economy @ 08 November 2006 02:11 CET by Jeroen · permalink · 0 reactions


Bank Indonesia may cut key policy rate for sixth time since May Indonesia's central bank will probably cut its benchmark interest rate by half a percentage point, the sixth reduction since May, to help revive consumer spending after inflation slowed to a two-year low. Bank Indonesia Governor Burhanuddin Abdullah and his fellow policy makers will cut the rate used as a reference for bills sales to 10.25 percent, according to 15 of 16 economists in a Bloomberg survey. One expects a reduction to 10 percent. The central bank decision is due in Jakarta tomorrow.

Posted in Economy @ 06 November 2006 03:17 CET by Jeroen · permalink · 0 reactions


BI closes down UFJ Indonesia The central bank has closed Bank UFJ Indonesia at the request of its own shareholder, the Bank of Tokyo-Mitsubishi UFJ (BTMU). As of Oct. 5, the lender has been effectively required to terminate all banking and other operations at all of its branch offices, Bank Indonesia said in a statement released Friday.

Posted in Economy @ 15 October 2006 03:09 CET by Jeroen · permalink · 0 reactions


Trials and travails of Indonesia's richest man Publicity-shy paper and plantation magnate Sukanto Tanoto is in Indonesia's national headlines after topping two high-profile lists. Forbes Asia last month listed the 56-year-old tycoon as the richest individual in Indonesia, with assets worth about US$2.8 billion (Rp25.2 trillion). In June, the self-made ethnic-Chinese tycoon also topped a list of state-owned Bank Mandiri's six biggest debtors.

Posted in General @ 15 October 2006 00:00 CET by Jeroen · permalink · 0 reactions


Indonesia pays off IMF debts The Indonesian government has decided to pay off the remaining debts from the International Monetary Fund (IMF) totaling 3.2 billion U.S dollars, the central bank chief said. "So next week we owe nothing to the IMF. After completing the early repayment, we will stand at the same level of playing field. We are no longer a troublesome member," Bank Indonesia Governor Burhanuddin Abdullah was quoted Friday by the major economic daily Bisnis Indonesia as saying.

Posted in Economy @ 06 October 2006 14:23 CET by Jeroen · permalink · 1 reaction


A lesson from Malaysia One more time I would like to look back to Malaysia a little bit. However I was only there for a week, I still had time to look around more than enough to get back to it for (maybe) one more time. Maybe it's just that I have too much time here, but I think it's rather because I would like Indonesia to have something of it as well. They will have to do most of the work however, I don't have much to tell here of course. I can at least tell about my ideas a little bit on the internet, to get it of my list and probably to never get back to it.

Posted in General @ 06 October 2006 00:00 CET by Jeroen · permalink · 0 reactions


Central bank vows further cuts in interest rate The Indonesian central bank said Friday it may further cut the benchmark interest rate to 10 percent by the end of the year. Earlier this week, Bank Indonesia cut the interest rate by 50 basis points to 11.25 percent. "We are confident that, between now and the end of the year, the inflation will be contained below 7 percent and Bank Indonesia interest rate will move to 10 percent," Bank Indonesia deputy governor Aslim Tadjuddin told reporters here.

Posted in General @ 11 September 2006 14:13 CET by Jeroen · permalink · 0 reactions


New policy package on financial sector issued The government and Bank Indonesia (BI) have signed a joint decree to improve coordination between fiscal and monetary authorities and help reform financial markets. Announcing the package Wednesday, Coordinating Minister for the Economy Boediono said it was expected to accelerate reforms in the banking sector, non-bank financial institutions and in capital markets. It would also enhance businesses' access to capital, he said.

Posted in Economy @ 06 July 2006 14:53 CET by Jeroen · permalink · 0 reactions


Indonesia takes antigraft fight to Interpol meeting Asian police forces should cooperate to strengthen efforts to fight corruption and money laundering, President Susilo Bambang Yudhoyono said Tuesday. "We should send a signal loud and clear to the corrupt everywhere that there is no safe haven anywhere for them to hide their stolen money," he said in a speech opening a three-day meeting of Asian police in Jakarta.

Posted in General @ 12 April 2006 07:18 CET by Jeroen · permalink · 0 reactions


Foreign exchange reserves reaches record high Indonesia's foreign exchange reserves during the first three months of this year reached 41.1 billion U.S. dollars, a figure never recorded before, Bank Indonesia (BI) Governor Burhanuddin Abdullah said on Wednesday. "This is the highest figure ever recorded since the founding of the republic of Indonesia," Antara news agency quoted Abdulah as saying when presenting the bank's first quarter evaluation.

Posted in Economy @ 06 April 2006 07:03 CET by Jeroen · permalink · 0 reactions
    
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