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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


KPK completes investigations of Rudi Rubiandini The Corruption Eradication Commission (KPK) said it has wrapped up investigations of former chief of the upstream oil and gas regulator (SKK Migas) Rudi Rubiandini , who is charged with corruption and money laundering.

Posted in Corruption @ 10 December 2013 20:07 CET by Blog Bot · permalink · 0 reactions


Bank Mandiri official arrested over fictitious credit application The Attorney Generals Office has arrested a Bank Mandiri official in connection with the disbursal of loans to build a thermal power plant in Central Kalimantan, which led to Rp43 billion in losses for the state.

Posted in Corruption @ 03 December 2013 23:09 CET by Blog Bot · permalink · 0 reactions


KPK to question energy and mineral resources minister The Corruption Eradication Commission (KPK) intends to question Energy and Mineral Resources Minister Jero Wacik as a witness soon in an alleged graft case involving the Upstream Oil and Gas regulatory special task force (SKK Migas).

Posted in Corruption @ 26 November 2013 14:45 CET by Blog Bot · permalink · 0 reactions


Rudi Rubiandini named suspect in money laundering case The Corruption Eradication Commission (KPK) has named former Chief of Special Task Forces for the Upstream Oil and Gas Regulatory (SKK Migas) Rudi Rubiandini as a suspect in a money laundering case.

Posted in Corruption @ 14 November 2013 17:27 CET by Blog Bot · permalink · 0 reactions


Pertamina president answers anti-graft body summons President Director of the states oil and gas company PT Pertamina Karen Agustiawan responded to the anti-graft bodys summons as a witness in the oil and gas bribery case of 2012-2013.

Posted in Corruption @ 07 November 2013 19:33 CET by Blog Bot · permalink · 0 reactions


Murderer and corruptor Tommy Suharto starts own party Former president Suharto’s youngest son, Hutomo Mandala Putra or Tommy, is ready to declare his new political party, the National Republic Party, in June this year. Lt. Gen Edi Waluyo, a party initiator, said Friday that he and some other party initiators had already begun preparing the party’s officials in regions.

Posted in Politics @ 23 April 2011 03:07 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


Garuda to go public within a matter of months The Indonesian government has confirmed that the national airline PT Garuda Indonesia will offer up to 25% of its shares via an initial public offering scheduled for Q2 of 2010. To this end, an underwriter has been appointed by Garuda.

Posted in Garuda Indonesia @ 21 January 2010 06:16 CET by Jeroen · permalink · 0 reactions


Order your Indonesian escort girl online now! Ever wondered how to order your Indonesian girl online? Well, for those who though that you have to get out of your house life has just become easier today! A website , hosted by Google, so probably not online for too long. The site starts with a lot of information about different sexual actions and eventually closes of with the way of booking; by email or mobile Indonesian phone number.

Posted in Culture @ 02 September 2009 07:57 CET by Jeroen · permalink · 3 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


Indonesia court seizes assets linked to Suharto family Indonesia's government has seized 134 million US dollars from a firm linked to former President Suharto's family. Finance minister Sri Mulyani Indrawati, says Bank Mandiri had been ordered to transfer the funds to a government account.

Posted in General @ 29 August 2008 05:11 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


Shares rise to new record high led by blue chip stocks Indonesia shares rose to a new record high Thursday on combination of local fund share purchases and buoyant investor sentiment as well as expectation of cut next week in the central bank's one month rate. The Jakarta Stock Exchange Composite index closed up 17.828 points, or 1.12 percent at of 1,606.696 as gainers led losers 80 to 4.

Posted in Economy @ 03 November 2006 03:41 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


Visa Indonesia records 90 % surge in transactions Visa Indonesia has announced that the total value of transactions made by using Visa electronic cards grew by 89.7 percent in the 12 months up to the end of June 2006, with a total transaction value of 26.44 billion U.S. dollars. The record high reaffirms Visa's position as the market leader in the Indonesian card market, The Jakarta Post reported Friday.

Posted in Economy @ 01 October 2006 04:35 CET by Jeroen · permalink · 0 reactions


Ex-Mandiri directors acquitted in graft case An Indonesian court on Monday acquitted the former CEO and two other ex-directors of Indonesia's biggest bank in a corruption trial that has been a key symbol in President Susilo Bambang Yudhoyono's war on graft. Prosecutors had demanded 20 years prison each for the men.

Posted in General @ 20 February 2006 07:03 CET by Jeroen · permalink · 0 reactions


Shared end at record high at BI move Indonesia shares ended at a record high Monday buoyed the central bank's move to defy market expectations and not hike its benchmark Bank Indonesia rate for the first time since July, analysts said.

Posted in Economy @ 10 January 2006 07:07 CET by Jeroen · permalink · 0 reactions


Boediono takes on economy President Susilo Bambang Yudhoyono announced a Cabinet reshuffle on Monday aimed at boosting his government's economic performance against a background of high inflation and unemployment. The changes to the one-year-old Cabinet saw Boediono, a former finance minister in the administration of President Megawati Soekarnoputri, take over the coordinating minister for the economy post, replacing Aburizal Bakrie, who was given a new assignment as the coordinating minister for people's welfare.

Posted in Politics @ 06 December 2005 17:15 CET by Jeroen · permalink · 0 reactions


Merpati in talks with Deutsche Bank on 450 bln rupiah loan State-owned airline PT Merpati Nusantara is in talks with Deutsche Bank AG for a 450 bln rupiah bridging loan to refinance debts, Bisnis Indonesia reported quoting an official at the Office of the State Minister for State Enterprises. 'Merpati is negotiating the terms of the loan with Deutsche Bank,' Bisnis quoted Deputy State Minister for State Enterprises for logistic and tourism Harry Susetyo as saying. He said the government is considering listing Merpati to repay the loan.

Posted in Economy @ 18 November 2005 08:13 CET by Jeroen · permalink · 0 reactions


Indonesia graft agency to question justice minister Indonesia's justice minister will be questioned this week by the country's anti-corruption agency in relation to an investigation of the election commission, the agency's chief said on Monday. The Anti-Corruption Commission (KPK) has been investigating suspected kickbacks by private firms to the General Election Commission, of which Justice Minister Hamid Awaluddin was a member last year.

Posted in Politics @ 06 June 2005 18:15 CET by Jeroen · permalink · 0 reactions


Three Mandiri Bank executives named in corruption probe Prosecutors investigating a graft case reportedly involving 1.3 billion dollars in loans from Indonesia's largest lender have named three state-bank executives as suspects. Bank Mandiri's president ECW Neloe, vice president I Wayan Pugeg and corporate banking director Sholeh Tasripan were Wednesday declared suspects in the corruption case, the attorney general's spokesman Suhandoyo told AFP.

Posted in Corruption @ 12 May 2005 00:01 CET by Jeroen · permalink · 0 reactions


Govt says may merge top two state banks Indonesia is considering merging its two largest state-controlled banks, a minister in charge of state firms said, a move analysts had speculated about after a multimillion dollar export credit scandal at the smaller of the two banks.

Posted in Economy @ 07 February 2004 00:02 CET by Jeroen · permalink · 0 reactions


S&P raises Indonesia's rating, boosts sentiment Foreign investor sentiment toward Indonesia got a further boost Monday from a decision by Standard & Poor's to upgrade the country's credit rating by one notch. Although widely expected, the move nevertheless represents a vote of confidence in the government's bid to cut its public debt, and comes at a time when the country is looking to end its reliance on the International Monetary Fund and to tap the international debt market for the first time since the 1997-98 Asian crisis.

Posted in Economy @ 12 May 2003 00:03 CET by Jeroen · permalink · 0 reactions


IMF: Indonesia may surpass 2004 GDP growth target The International Monetary Fund said Friday that Indonesia's economy in 2004 could grow by more than the government's forecast of between 4% and 5%. The IMF's director for Asia Pacific, Daniel Citrin, who is leading a review of Indonesia's economy, also said the government's 2004 budget deficit target of 1% of gross domestic product was "reasonable."

Posted in Economy @ 03 May 2003 00:01 CET by Jeroen · permalink · 0 reactions


Robbers kill two, escape with Rp 1.8b Armed robbers killed a policeman and a security officer, and injured two other people before escaping with Rp 1.8 billion (US$211,765) owned by Bank Lippo here on Friday. Bogor Police deputy chief, Adj. Sr. Comr. Makmun Saleh said on Friday that the robbery's execution indicated it had been committed by cold-blooded criminals. "If they weren't cold-blooded criminals, they wouldn't have shot and killed them," he said.

Posted in Crime @ 01 September 2001 00:01 CET by Jeroen · permalink · 0 reactions


Budi Sadikin, a clean-cut, affable young executive, is smiling broadly. And for good reason. As head of consumer banking in Indonesia for ABN AMRO Bank, the 37-year-old has watched deposits at the Dutch bank's 15 branches triple in value in just three years — to $800 million at the end of 2000. Until 1998, ABN AMRO, which has been doing business in Indonesia for 175 years, did not even have a consumer-banking unit. Now Sadikin oversees a 200-strong team whose job it is to coax more affluent Indonesians to deposit their money in a foreign bank.

Posted in Politics @ 04 July 2001 00:00 CET by Jeroen · permalink · 0 reactions


Tense times for the rupiah and the economy amid Bank Indonesia's crisis at the top. Syahril Sabirin is back at work after six months away, and there's something of a celebration on. Jacket tossed over his shoulder, Indonesia's mild-mannered banking chief wades through a crowd of central bank employees welcoming him back like some dear uncle. The odd thing is, he's just spent half a year under house arrest, on charges of corruption. But Sabirin is among supporters now. He speaks of the need to rebuild staff morale and clear his name. The government still aims to bring Sabirin to court over a scandal involving $80 million in commissions paid by Bank Bali to a firm linked to Golkar, the former ruling party. Allegedly in exchange for the money, funds were released to Bank Bali with central bank approval. "It's a soap opera," sniffs a senior state official, shocked by Sabirin's return. "A farce," adds another. - It would all be funny — if it weren't for real. In fact, Bank Indonesia has joined the hated military, the bungling police and a government adrift in the gallery of faltering national entities. "This is just one more example of the institutional vacuum," says Robert Broadfoot, managing director of the Hong Kong-based Political and Economic Risk Consultancy. Sabirin's woes are not the central bank's only problem by a longshot. Recently, all but two central bank governors resigned after the Supreme Audit Agency reported that during the financial crisis, nearly $9 billion in emergency loans to private-sector banks, many controlled by Suharto cronies, were diverted to unauthorized spending and lending (see table opposite). Little of the money is likely to ever be recovered. Can Indonesia's currency and economy survive the foibles at the central bank? So far, the rupiah isn't collapsing, though it's down 25% from its 2000 high.

Posted in Economy @ 28 December 2000 00:00 CET by Jeroen · permalink · 0 reactions


Blackout affects activities in Greater Jakarta Hundreds of thousands, or perhaps millions, of people in several parts of Jakarta and Tangerang had their routines interrupted for hours on Monday after a blackout occurred at 10:55 a.m. The total loss suffered by customers of state electricity firm PT PLN during the four-hour electricity failure could reach billions of rupiah. Main streets in the capital witnessed heavy traffic congestion when traffic lights stopped working.

Posted in General @ 08 May 2000 09:49 CET by Jeroen · permalink · 0 reactions
    
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