Indonesia

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Indonesia Moves Closer to Taking Controlling Stake in Freeport Copper Mine

Global mining giants Freeport-McMoRan Inc. and Rio Tinto PLC have agreed to hand over control of the world’s second-biggest copper mine to Indonesia, moving closer to resolving one of the world’s most prominent recent battles over resource wealth, The ...

Daily Headline - global.abi.org - 07/12/2018 - 22:51 - 0 comments

Bank of Indonesia Raises Rates for Second Time in 2 Weeks

Indonesia’s central bank raised interest rates for the second time in as many weeks on Wednesday after its newly-appointed governor called an off-cycle monetary policy meeting, the Financial Times reported. The Bank of Indonesia increased its benchma ...

Daily Headline - global.abi.org - 05/30/2018 - 23:08 - 0 comments

Jokowi Spends to Support Fragile Indonesian Recovery

Indonesia’s household consumption, a major contributor to GDP, has been growing at a lacklustre rate in recent years because of weak commodity prices and currency devaluations, the Financial Times reported. The latest economic indicators and FT Confi ...

Daily Headline - global.abi.org - 05/11/2018 - 00:45 - 0 comments

Indonesia Market Selloff Shows Perils of Relying on Foreign Funding

A steep recent slide in Indonesia’s stock markets and currency is rooted in heavy foreign ownership of the country’s government bonds—something officials here have been trying to change. The Indonesian stock market has slid more than 7% in two weeks, whi ...

Daily Headline - global.abi.org - 05/07/2018 - 23:54 - 0 comments

Indonesia to Turn Over Yacht in 1MDB Probe to FBI

Indonesia will hand over a luxury yacht seized on the resort island of Bali to U.S. authorities, police said Wednesday, giving the Justice Department an elusive asset connected to a $4.5 billion fraud case centered on the Malaysian state fund 1MDB, The ...

Daily Headline - global.abi.org - 03/08/2018 - 00:40 - 0 comments

Senior management responsibility in banks

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ s ...

Resource Article - twallace@abiwor... - 11/08/2017 - 10:02 - 0 comments - 0 attachments

Indonesia’s Tax Amnesty Passes Its Deadline

Last year Indonesia’s finance minister, Sri Mulyani Indrawati, invited chief executives, directors and shareholders from the country’s leading industries to banquets at her ministry, The Economist reported. As they munched, she would give presentatio ...

Daily Headline - global.abi.org - 03/30/2017 - 22:13 - 0 comments

Indonesia Rakes in Billions as Tax Amnesty Gathers Steam

A tax amnesty program launched by Indonesia to bring home money stashed overseas by wealthy individuals has attracted 135.4 trillion rupiah (US$10.5 billion) in asset repatriation since July, the government said Friday, The Wall Street Journal report ...

Daily Headline - global.abi.org - 10/03/2016 - 00:37 - 0 comments

Trikomsel Says Indonesian Court to Review Debt Workout Plan

PT Trikomsel Oke, an Indonesian mobile-phone retailer that defaulted on bonds last year, said that a court hearing on the company’s debt workout plan will be held today, Bloomberg News reported. A Jakarta commercial court had decided on Sept. 26 to postp ...

Daily Headline - abi_admin - 09/28/2016 - 13:43 - 0 comments

Indonesian Government Will No Longer Bail Out Commercial Banks

The Indonesian government will no longer bail out commercial banks when they face financial problems, but will instead force the institutions to use their own assets or those belonging to shareholders to raise funds in a crisis, according to a new regula ...

Daily Headline - global.abi.org - 03/21/2016 - 21:11 - 0 comments

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