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Indonesia

Indonesia sentences eight Taiwanese drug smugglers to death

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JAKARTA: Eight Taiwanese drug smugglers were sentenced to death by an Indonesian court after being nabbed with around a tonne of crystal methamphetamine in a country that has some of the world’s toughest anti-drug laws. The men were arrested during raids last July, when the drug network’s suspected leader was killed in a shootout with Indonesian police. “The defendants have ... Read More »

Indonesia charges Pole suspected in Papua arms smuggling plot

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JAKARTA: A Pole detained in Indonesia late last month could face life imprisonment having been charged with plotting against the state after being named as a suspect in a conspiracy to smuggle arms to separatists in Papua, a police spokesman said on Monday. Jakub Fabian Skrzypski was detained on Aug. 26 and is being held at police headquarters in the ... Read More »

Man who spent 18 years in Indonesian jail for smuggling hash returns to France

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A Frenchman detained for 18 years after trying to smuggle drugs into Bali arrived in Geneva and was on his way home after being deported in a case that sparked outrage in France over Indonesia’s tough narcotics laws. Police arrested Michael Blanc on the day after Christmas in 1999 at the tropical island’s airport with 3.8 kilogrammes (8.4 pounds) of ... Read More »

Scott Morrison visit expected to restart ministerial meetings with Indonesia

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Scott Morrison arrived in Indonesia on Thursday night, starting his first overseas visit hoping to grow the $16.2 billion trade relationship and establish regular ministerial cooperation with Joko Widodo’s administration. The two countries are expected to sign a formal agreement to conclude long-running free trade negotiations and announce formation of a Strategic Partnership between Canberra and Jakarta, restarting ministerial-level meetings ... Read More »

Indonesia urges exporters to use FX earnings to support rupiah

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JAKARTA: Indonesia’s government has made a fresh appeal to the country’s exporters to exchange their holdings of foreign currencies to help support the tumbling rupiah, as Turkey’s financial crisis sparks fears of emerging market contagion. The rupiah slipped another 0.2% on Thursday to 14,625 to the dollar, quickly shrugging off a surprise rate increase by the central bank the previous ... Read More »

Foreign exchange reserve declines to US$118.3b

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Indonesia’s foreign exchange reserve declined by US$1.5 billion to $118.3 billion in July, Bank Indonesia (BI) reported on Tuesday, lower than $119.8 billion reserve in June as the central bank continues its market intervention to prevent the rupiah from sliding further against the US dollar. “The foreign exchange reserve decline in July was primarily due to payment of the government’s ... Read More »

Indonesian police bust people-smuggling network bringing ‘fake Rohingya refugees’ to Australia

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The revelation comes as real Rohingya refugees took to the water to escape persecution in Myanmar and crowded camps over the border in Bangladesh, the ABC News reported. Brigadier General Herry Rudolf Nahak said the men were, in fact, Bangladeshis working in Malaysia who were convinced by the people smugglers that they would earn more money in Australia. Indonesian police ... Read More »

Man who spent 18 years in Indonesian jail for smuggling hash returns to France

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A Frenchman detained for 18 years after trying to smuggle drugs into Bali arrived in Geneva and was on his way home after being deported in a case that sparked outrage in France over Indonesia’s tough narcotics laws. Police arrested Michael Blanc on the day after Christmas in 1999 at the tropical island’s airport with 3.8 kilogrammes (8.4 pounds) of ... Read More »

Member of Bali Nine drug smuggling gang dies in prison

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A member of the Bali Nine drug smuggling gang has died of stomach cancer, an Indonesian justice ministry official has said. Tan Duc Thanh Nguyen, 34, was serving a life sentence for his role in trying to traffic heroin from the resort island to Australia in 2005. The group’s ringleaders, Myuran Sukumaran and Andrew Chan, were executed by firing squad ... Read More »

8 Taiwanese sentenced to death in Indonesia for smuggling drugs

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An Indonesian court sentenced eight Taiwanese to death for trying to smuggle 1 ton of crystal methamphetamine into the country from China. Five were convicted in one trial, and the other three in a separate trial, before the South Jakarta District Court. “The defendants have been found legally and convincingly guilty of committing an evil conspiracy…by importing 1 ton of ... Read More »

Indonesia stock market slumps 2.5% as trade resumes

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JAKARTA: Indonesian shares slumped 2.5% their sharpest intraday fall in nearly two months, after trade resumed following a long holiday for Eid Al-Fitr celebrations. Global equity markets saw a selloff during the Eid holiday and Indonesia is expected to play catch-up, driven by stocks with high foreign ownership such as Bank Central Asia and Bank Mandiri, according to a Trimegah ... Read More »

Indonesia tries to get companies to hold more rupiah to stem weakness

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JAKARTA: Over the past couple of decades, Indonesian companies have developed a tried and tested strategy to cope with the periodic plunges in the rupiah: retain dollars to protect their profits. But their behaviour can add to downward pressure on the currency, exacerbating problems for policymakers in southeast Asia’s biggest economy, especially given its relatively open nature compared to neighbours ... Read More »

Indonesia, India Upgrade Ties With 15 Agreements

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JAKARTA, INDONESIA (AP) — Indonesia and India agreed Wednesday to upgrade bilateral relations by signing more than a dozen agreements on a broad range of areas including defense, maritime affairs, trade and investment. After meeting with visiting Indian Prime Minister Narendra Modi, President Joko “Jokowi” Widodo said they agreed to make their economies open and hoped a comprehensive economic partnership ... Read More »

Indonesia’s currency is spiraling. It’ll have to make sacrifices to save it

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Indonesia’s rupiah has been growing worryingly weak, and the country’s central bank has seen little success after multiple attempts to prop up the currency. Now, Bank Indonesia said it will meet again on Wednesday — and speculations are rife that the central bank has more tricks up its sleeve. The rupiah has been one of the worst-hit Asian currencies as ... Read More »

Government to increase biodiesel mix to 25%

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The government is planning to issue a regulation on the production of 25-percent biodiesel ( B25 ) early next year. Once issued, the policy will replace the current regulation on 20-percent biodiesel ( B20 ) production. The 5-percent increase in biodiesel is expected to save US$1 billion in oil imports a year, in addition to supporting clean energy. Energy and ... Read More »

Jakarta Asian Games to Cost $3.2b to Indonesia Economy

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JAKARTA: This year’s Asian Games in Jakarta and Palembang will cost $3.2 billion to the Indonesian economy, a new survey has estimated. Indonesia’s National Development Planning Agency (Bappenas) claims Jakarta Palembang 2018 will have a multibillion dollar impact on the local economy along with another major event to be held in the country this year, the meeting of International Monetary ... Read More »

Indonesia violence: Samurai sword-armed men target police station

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Four men who attacked a police station with samurai swords in Indonesia have been shot dead, authorities say. The group began the assault by ramming a car into the police headquarters in the town of Pekanbaru in Riau province. A police officer was killed and one of the assailants arrested. The Islamic State (IS) group has claimed the attack via ... Read More »

China Contributing $500 Million to Trump-Linked Project in Indonesia

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The Chinese government is extending a $500 million loan to a state-owned construction company to build an Indonesian theme park that will feature a Trump-branded golf course and hotels. A subsidiary of Chinese state-owned construction firm Metallurgical Corporation of China (MCC) signed a deal last week with the Indonesian firm MNC Land to build an “integrated lifestyle resort,” as part ... Read More »

Indonesia to auction Rokan Oil Block in July

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The Energy and Mineral Resources Ministry plans to auction Rokan Oil Block in Riau in July as the contract between the government and Chevron Pacific Indonesia is slated to end in 2021. The ministry’s oil and gas director general, Djoko Siswanto, said it was understandable that the block attracted many investors as it was highly productive. “If there are many ... Read More »

Freeport Indonesia Divestment Still Targeted for This Year, Inalum Says

Seorang wanita melintasi layar elektronik pergerakan saham di Bursa Efek Indonesia, Jakarta, Jumat (6/10). Pada penutupan perdagangan akhir pekan, IHSG ditutup naik 3 poin atau 0,06 persen ke 5.905. ANTARA FOTO/Akbar Nugroho Gumay/NZ/17

Nusa Dua, Bali. Freeport-McMoRan’s divestment of a controlling interest in Indonesia’s Grasberg mine is still planned for 2018, even though the price and some contract terms are still to be agreed, the head of state mining holding company Inalum said. Inalum, which is arranging funding for the deal, already has a “committed” loan for the transaction with Freeport and Rio ... Read More »