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Indonesia

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  • JAKARTA, March 5- Investment bankers and company executives are worried President Joko Widodo's drive for clean governance is falling apart amid a dispute between rival law enforcement agencies in Southeast Asia's largest economy. Indonesia's main anti-corruption agency, Corruption Eradication Commission, has been severely weakened over the last few...

  • WASHINGTON, March 4- The United States expects a global deal to cut customs red tape and streamline import procedures to come into force this year, a senior trade official said on Wednesday. Trade Representative for World Trade Organization and Multilateral Affairs, said Washington was "pretty confident" the deal agreed in Bali in 2013 would be up and running by...

  • *Indonesia beef price could rise 50 pct ahead of Ramadan in June. JAKARTA, March 4- Plans by Indonesia's new president to make the nation self-sufficient in foods such as beef are showing signs of backfiring, with a major industry group warning prices for the meat could soar 50 percent in the next few months. Reduced imports would also hurt shipments from world No.3...

  • JAKARTA, March 4- Selling goods online may only rely on a few mouse clicks, but in Indonesia, delivering purchases to dozens of islands via creaky ports and potholed roads is the logistical challenge Lippo Group faces when its department store opens in cyberspace this month. Lippo, the biggest shareholder of No. 1 retailer PT Matahari Department Store Tbk, is...

  • KUALA LUMPUR, Malaysia— Two airplane catastrophes put Malaysia on the map in a bad way in 2014. But they didn't hurt the country's tourism, and the higher visibility may even have helped: visitor numbers had their strongest growth in years. For the past decade, Malaysia has run an elaborate campaign to market itself abroad as an ideal Asian destination, touting a...

  • *GM to stop car manufacturing in Indonesia. GM Indonesia to shutter assembly plant, axe 500 jobs. Feb 27- A day after announcing it is to stop making GM-branded cars in Indonesia, General Motors said on Friday it would cease production of its Chevrolet Sonic in Thailand by the middle of this year.

  • *GM to stop car manufacturing in Indonesia. BEIJING, Feb 26- General Motors will stop making GM-branded cars in Indonesia, a battleground for global automakers, closing an assembly plant, axing some 500 jobs and shifting its focus to sport utility vehicles. The retreat also comes as GM drives into Indonesia with its Chinese partner, SAIC Motor Corp..

  • *GM to stop car manufacturing in Indonesia. BEIJING, Feb 26- General Motors is to stop making cars in Indonesia, a battleground for global automakers in emerging Southeast Asia, closing an assembly plant, axing some 500 jobs and shifting its branding focus to sport utility vehicles. GM tried to take on Japanese rivals by locally producing its Chevrolet Spin, a...

  • JAKARTA/ WASHINGTON, Feb 24- The United States is pressing Indonesia to relax local-content rules it believes will handicap efforts of tech firms such as Apple to expand into one of the world's last big markets where demand for high-end smartphone has yet to really take off. "The United States shares these concerns, and strongly supports ensuring that...

  • Global gasoline-price subsidies evaporate Monday, 23 Feb 2015 | 9:16 AM ET
    Motorists line up at a gas station in Bali, Indonesia.

    The crash in crude prices has some governments taking a hard look at costly subsidies that have kept gas pump prices artificially low.

  • Bank Mandiri: 'We need capital injection'  Sunday, 22 Feb 2015 | 7:53 PM ET

    Pahala Mansury, CFO of Bank Mandiri, explains how the bank will improve its capital after the Indonesian parliament turned down a government plan to inject $436 million into Bank Mandiri.

  • A man walks past an electronic board displaying share prices at the Indonesia Stock Exchange (IDX) in Jakarta, Indonesia, on Thursday, April 10, 2014.

    An Indonesian telecom found a way to restructure its debt over creditor objections: it loaned itself money and counted its own votes toward approval.

  • METALS-London copper prices drift on Lunar New Year lull Wednesday, 18 Feb 2015 | 8:43 PM ET

    MELBOURNE, Feb 19- London copper edged lower on Thursday, paring gains from a short-covering burst the session before, with trade subdued as many Asian nations celebrate Lunar New Year. Copper is expected to remain stuck in the $5,300- 5,800 range in place for the past month until Chinese buying activity ramps up in mid-March. *Other markets taking some holiday...

  • TIMELINE-Indonesia's Bakrie Telecom restructuring process Wednesday, 18 Feb 2015 | 4:00 PM ET

    BACKGROUND Bakrie Telecom Tbk set up a special purpose vehicle- Bakrie Telecom Pte Ltd- to sell a $380 million bond in New York in 2010. The bond matures in May 2015 and bears an 11.5 percent coupon. Bakrie Telecom Tbk guarantees the bond while Bakrie Telecom Pte Ltd lends the proceeds to the listed parent company under an inter-company loan agreement.

  • But investors who have sued PT Bakrie Telecom Tbk and its subsidiaries in New York over a $380 million bond say they were barred from voting on the restructuring. The bond's trustee Bank of New York Mellon said that violated both the terms of the bond contract and the law, without specifying which country's law, according to a letter to Bakrie Telecom seen by...

  • JAKARTA, Feb 18- They might be late to the party, but central banks in Southeast Asia are joining the global rush of easier policy, as deflationary pressures create room for them to prop up faltering growth without weakening defences against capital outflows. Indonesia surprised markets with a rate cut on Tuesday, and Singapore eased its policy in January.

  • *Japan ended Indonesia imports about 10 yrs ago on bird-flu worry. JAKARTA, Feb 18- Indonesian poultry suppliers are weeks away from making their first exports of processed chicken to Japan in a decade, an endorsement of quality that will boost the Southeast Asian nation's push into a regional market dominated by Thailand. Hit by scares over chicken meat safety...

  • BI: 'Confident that inflation will stay low'  Tuesday, 17 Feb 2015 | 7:31 PM ET

    Perry Warjiyo, deputy governor of the Bank Indonesia, says the central bank announced a rate cut on Tuesday due to optimism that inflation will fall below 4 percent by year-end.

  • Wellian Wiranto, economist at OCBC, says Indonesia's central bank will likely hold rates steady on Tuesday as the country's current account deficit still needs further improvements.

  • JAKARTA, Feb 16- Indonesia has dropped its demand that Freeport-McMoran Inc build a $1.5 billion copper smelter in Papua province, saying a regionally owned enterprise would take on the project instead, website Detik.com reported, quoting the mining minister. The ministry in December said Arizona- based Freeport, which runs the world's fifth-largest copper...