Gayus Tambunan’s get-out-of-jail scandal has touched a raw nerve like few others in a nation where corruption scandals are daily fare.
That’s because more than a decade after the collapse of former President Suharto’s 32-year dictatorship, many believe the greatest threat is not terrorism, a weak education system, poor infrastructure or even poverty.
“It’s graft,” said Agung Kumoroyekti, a 32-year-old computer salesman who wants the worst corruptors to be put to death.
“Otherwise nothing will change in this country,” he said. “If you’re rich or powerful, you’ll always be able to do what you want.”
President Susilo Bambang Yudhoyono has made fighting graft a top priority.
But the Corruption Eradication Commission (KPK) itself has been beset by scandals of its own, some allegedly fabricated by tainted officials.
On Tuesday, Yudhoyono acknowledged that Indonesians were “not satisfied” with the embarrassing law enforcement system, but said he could not intervene in individual cases, despite the rising complaints.
“Though I could not and would not intervene in the legal process ... as a head of state I should care about the concerns of our people,” he said.
The president did not say what steps he would take to improve the justice system.
“I have received text messages from people who are not satisfied with law enforcement,” Yudhoyono said.
He said the messages began when he was attending last week’s G-20 Summit in South Korea, shortly after Gayus was found to be bribing his way to a Bali vacation during his trial on corruption charges.
In some ways, Gayus, who is charged with pocketing at least $2.7 million from dozens of big companies while he was a mid-level tax collector, is a dream case for a frustrated public and corruption watchdogs.
Each new allegation at his trial, now in its fifth month, has cast a wider shadow on top government officials, police and the judiciary in a country where most people earn less than $300 a month.
On Monday, Gayus broke into tears when he admitted in a hearing at the South Jakarta District Court that he was the wigged man captured by a Jakarta Globe photographer at an international tennis match in Bali on Nov. 5.
“I simply wanted to see my family,” said Gayus, who was surrounded by relatives at the match. “I wanted a vacation.”
National Police spokesman Maj. Gen. Iskandar Hasan said nine police guards have been arrested and face charges of accepting up to $40,000 from Gayus, who allegedly left the jail at least 60 times since his detention in April.
That has raised new questions about whether Gayus still has access to any of his alleged ill-gotten gains.
Pamuji, a 22-year-old street vendor, said the events of the last week have made her more pessimistic about the state of justice in Indonesia.
“If you’re poor and get caught pick-pocketing, you’ll be chased down by a mob and badly beaten,” she said. “I guess if you steal enough money, like him, you can do what you want!”
Emerson Yuntho, from Indonesian Corruption Watch, said that Gayus’s Bali jaunt exposed deep flaws in the legal system.
“The Gayus case reveals two types of problems, taxation and a judicial mafia,” he said, referring to Gayus’s alleged illicit practices in the tax office and bribery of officials to avoid conviction on graft charges in 2009.
“And none of those implicated in the cases have been brought to justice,” Emerson said.
The Gayus Bali getaway also demonstrates to a weary public that even in detention the wealthy evade real punishment, such as the case of Artalyta Suryani, who is serving time on graft charges but was found to be enjoying a luxury cell in a women’s prison earlier this year.
So far none of the institutions in charge of Gayus’s detention — the Ministry of Justice and Human Rights, the Attorney General’s Office and the National Police — have accepted responsibility for his stroll on the beach. Instead they have pointed fingers at one another.
“The whole blame game is expected,” Emerson said. “At one point or another, all these institutions have been implicated in the Gayus scandal.”
Hot Info
Monday, November 22, 2010
Indonesian Garuda’s 2-Part IPO Plan to Hit Market Next Year
Flagship carrier Garuda Indonesia will go ahead with its initial public offering in two stages next year, with the total share sale expected to raise more than Rp 4 trillion ($450 million).
“The first stage will be carried out in February and the second share sale will be conducted at a later date when necessary,” Mustafa Abubakar, the state enterprises minister, said on Friday.
“We have gained approval from the House of Representatives to sell a 40 percent stake, but we’re only going to float 30 percent in the first phase and another 10 percent when we feel it is necessary,” he said.
“I’m optimistic that Garuda’s IPO will go smoothly despite its below-par performance this year,” he added.
Garuda’s IPO had been originally scheduled for the third quarter of this year but was delayed because the company was still revamping its $240 million debt to the European Credit Agency and consolidating its financial report.
The plan for the February float was almost derailed after the State Enterprises Ministry announced incorrect figures for Garuda’s financial results in the first nine months of this year.
It announced a Rp 39.5 billion loss, while the airline had in fact posted a nine-month profit of Rp 194 billion.
But Garuda’s sluggish overall financial performance this year could see the airline fall short of its full-year net profit target of Rp 1.15 trillion. It recorded a net profit of Rp 1 trillion last year.
Garuda earlier said it planned to submit its IPO proposal to the Indonesia Stock Exchange (IDX) next week.
Elisa Lumbantoruan, the company’s acting finance director, said it was still preparing a business plan for next year. Part of that plan includes how to use the 24 new planes it is in the process of leasing.
“Garuda has never before bought 24 new airplanes in a single year,” he said.
The need for 200 pilots to fly the next-generation Boeing aircraft also poses a problem for the company, he said.
“Our pilots are licensed to fly the classic series. We need time for training to enable them to fly the next-generation jetliners,” he said.
“Hopefully we can get the pilots next year, or by 2014 at the latest.”
Garuda plans to use the proceeds from the IPO to increase its fleet to 116 by 2014 from 67 last year, as well as to open more international and domestic routes.
“The first stage will be carried out in February and the second share sale will be conducted at a later date when necessary,” Mustafa Abubakar, the state enterprises minister, said on Friday.
“We have gained approval from the House of Representatives to sell a 40 percent stake, but we’re only going to float 30 percent in the first phase and another 10 percent when we feel it is necessary,” he said.
“I’m optimistic that Garuda’s IPO will go smoothly despite its below-par performance this year,” he added.
Garuda’s IPO had been originally scheduled for the third quarter of this year but was delayed because the company was still revamping its $240 million debt to the European Credit Agency and consolidating its financial report.
The plan for the February float was almost derailed after the State Enterprises Ministry announced incorrect figures for Garuda’s financial results in the first nine months of this year.
It announced a Rp 39.5 billion loss, while the airline had in fact posted a nine-month profit of Rp 194 billion.
But Garuda’s sluggish overall financial performance this year could see the airline fall short of its full-year net profit target of Rp 1.15 trillion. It recorded a net profit of Rp 1 trillion last year.
Garuda earlier said it planned to submit its IPO proposal to the Indonesia Stock Exchange (IDX) next week.
Elisa Lumbantoruan, the company’s acting finance director, said it was still preparing a business plan for next year. Part of that plan includes how to use the 24 new planes it is in the process of leasing.
“Garuda has never before bought 24 new airplanes in a single year,” he said.
The need for 200 pilots to fly the next-generation Boeing aircraft also poses a problem for the company, he said.
“Our pilots are licensed to fly the classic series. We need time for training to enable them to fly the next-generation jetliners,” he said.
“Hopefully we can get the pilots next year, or by 2014 at the latest.”
Garuda plans to use the proceeds from the IPO to increase its fleet to 116 by 2014 from 67 last year, as well as to open more international and domestic routes.
Daniel Radcliffe: Harry Potter is 'Like the Mafia'
Daniel Radcliffe has grown up on the big screen as the young wizard Harry Potter.
Now, after ten years and seven hugely successful films, the 22-year-old actor is reaching the end of the magical odyssey with Harry Potter and the Deathly Hallows Parts 1 and 2. Parade's Jeanne Wolf found out about the incredible journey he's taken.
Is it really over?
"J. K. Rowling pretty much promised me that she wasn't going to write any more Harry Potter books. But, subsequently, I've heard she's been quoted as saying she hasn't ruled it out. So I think the two of us have to have a very interesting conversation at some point in the near future."
Now, after ten years and seven hugely successful films, the 22-year-old actor is reaching the end of the magical odyssey with Harry Potter and the Deathly Hallows Parts 1 and 2. Parade's Jeanne Wolf found out about the incredible journey he's taken.
Is it really over?
"J. K. Rowling pretty much promised me that she wasn't going to write any more Harry Potter books. But, subsequently, I've heard she's been quoted as saying she hasn't ruled it out. So I think the two of us have to have a very interesting conversation at some point in the near future."
Hundreds in Dark as Garuda Indonesia Cancels More Flights
National airline Garuda Indonesia has issued an apology — sort of — to its customers as delays and cancellations stemming from a “new operational monitoring system” continued for a second day on Monday.
Thousands of passengers were left waiting at airports throughout Indonesia on Sunday after a number of flights were delayed or simply canceled, with many of those affected expressing anger for the complete lack of information provided by the airline.
In an advertisement placed on news portal Detik.com, Garuda apologized for the delays but gave no clear explanation about what was causing the ongoing problems.
“Garuda Indonesia apologizes to those who use our service for the flight delays and cancellations related to the application of the new operational monitoring system,” the advertorial said.
Garuda could not be contacted for comment, nor was any information available on its Web site.
On Tuesday, at least three domestic flights from Soekarno-Hatta International Airport in Jakarta were canceled, while at least ftwo lights to the airport were canceled, according to Cecep Sutardi, an operational officer with state-owned airport operator Angkasa Pura II.
He said the latest information from Garuda was only that the airline would help passengers to refund tickets and transfer to other airlines.
One of Garuda’s “pissed off” customers, Aisyah, told the Jakarta Globe by e-mail that she was scheduled to fly from Lampung to Jakarta at 5:50 p.m. on Sunday but was told by the check-in staff that the flight had been delayed until 9:30 p.m.
“She couldn’t give us any specific reason, more like babbling.”
She said she understood that the airline was attempting to apply a new staff roster system, “but as we could all see it was a mess.”
“When finally we boarded on the plane, I asked one of the cabin crew what happened ... She said she had no idea.. They called her on her day off, forcing her to come and work.”
She added that the only compensation offered was fried chicken.
Niky Lauda, wrote to the Globe to say that she was one of many hundreds of people affected.
The 31-year-old manager of sales planning and analysis for a drinks company said she was scheduled to fly from Jakarta to Semarang in Central Java at 12:30 p.m. but the flight was delayed — again with no explanation — until 4:30 p.m. when it was canceled outright.
She said that as she had three days of meetings in Semarang, she persevered and was eventually able to board a Sriwijaya Air flight at 7 p.m. after buying a ticket from a scalper at the exorbitant cost of Rp 850,000 ($92).
Niky said a friend of hers said that there was a six-hour delay for an international flight from Jakarta to Singapore.
She said during her wait at the airport there was no duty manager in charge, and though refunds were available, Garuda failed to offer hotel rooms for those forced to delay their flights till Monday.
Niky said she was disappointed with the nation’s “very terrible” flag carrier.
Thousands of passengers were left waiting at airports throughout Indonesia on Sunday after a number of flights were delayed or simply canceled, with many of those affected expressing anger for the complete lack of information provided by the airline.
In an advertisement placed on news portal Detik.com, Garuda apologized for the delays but gave no clear explanation about what was causing the ongoing problems.
“Garuda Indonesia apologizes to those who use our service for the flight delays and cancellations related to the application of the new operational monitoring system,” the advertorial said.
Garuda could not be contacted for comment, nor was any information available on its Web site.
On Tuesday, at least three domestic flights from Soekarno-Hatta International Airport in Jakarta were canceled, while at least ftwo lights to the airport were canceled, according to Cecep Sutardi, an operational officer with state-owned airport operator Angkasa Pura II.
He said the latest information from Garuda was only that the airline would help passengers to refund tickets and transfer to other airlines.
One of Garuda’s “pissed off” customers, Aisyah, told the Jakarta Globe by e-mail that she was scheduled to fly from Lampung to Jakarta at 5:50 p.m. on Sunday but was told by the check-in staff that the flight had been delayed until 9:30 p.m.
“She couldn’t give us any specific reason, more like babbling.”
She said she understood that the airline was attempting to apply a new staff roster system, “but as we could all see it was a mess.”
“When finally we boarded on the plane, I asked one of the cabin crew what happened ... She said she had no idea.. They called her on her day off, forcing her to come and work.”
She added that the only compensation offered was fried chicken.
Niky Lauda, wrote to the Globe to say that she was one of many hundreds of people affected.
The 31-year-old manager of sales planning and analysis for a drinks company said she was scheduled to fly from Jakarta to Semarang in Central Java at 12:30 p.m. but the flight was delayed — again with no explanation — until 4:30 p.m. when it was canceled outright.
She said that as she had three days of meetings in Semarang, she persevered and was eventually able to board a Sriwijaya Air flight at 7 p.m. after buying a ticket from a scalper at the exorbitant cost of Rp 850,000 ($92).
Niky said a friend of hers said that there was a six-hour delay for an international flight from Jakarta to Singapore.
She said during her wait at the airport there was no duty manager in charge, and though refunds were available, Garuda failed to offer hotel rooms for those forced to delay their flights till Monday.
Niky said she was disappointed with the nation’s “very terrible” flag carrier.
Maids Share Stories of Nearly Being Worked to Death by Saudi Employers
Selvia, a 27-year-old former maid from Sumbawa, a district of West Nusa Tenggara, has been partially paralyzed since 2007.
It happened when she worked as a domestic worker in the Saudi Arabian city of Nabuk, where she says her employers nearly worked her to death.
“They didn’t torture me, but they frequently scolded me and I had to work very hard, lifting heavy objects like gas canisters,” she says.
The back-breaking work did just that — it broke her back, and now Selvia cannot walk properly.
Such stories are common, but only receive sporadic attention, such as the recently discovered horrific abuse of Sumiati, an Indonesian maid, by Saudi employers.
Selvia returned to Indonesia in July 2010.
“When she tried to walk, bent over, I could see that it was costing her a lot of effort,” says Endang Susilowati, an activist from the Panca Karsa Foundation (PPK), which helps former migrant workers who have suffered abuse. “Now her condition is getting worse.”
Endang accuses the government of ignoring its obligations to Selvia by not allowing her full treatment the West Nusa Tenggara General Hospital in the provincial capital Mataram without a government-issued insurance card known as a Jamkesmas.
Selvia’s injury, she argues, stems from a workplace accident, and as such the migrant worker placement agency (that sent her to Saudi Arabia ought to pay for her medical bills and arrange her insurance.
Yanti Yusepa, 25, from West Lombok, is another injured former migrant worker who is still waiting for her insurance payout.
She went to Saudi Arabia on Aug. 29 and arrived back in Indonesia on Oct. 6, paralyzed from the waist down after jumping from a second-story window to get away from what she called chronically abusive employers.
Yanti says she worked for three different families in Saudi Arabia, fleeing from the first two after they starved and physically abused her.
She says the third family was particularly cruel. The daughters would burn her with a hot iron while their mother would beat her. That abuse induced her desperate flight.
“I’m still traumatized. I get scared every time I remember mustering the courage to jump from the second-floor window,” Yanti says. “Not a single person was willing to help me when they saw me fall.”
She says she has not received any compensation from her Jakarta-based placement agency, Sinar Berkilau Mandiri, or her Bahrain-based agent, Al Gandir.
She says the agency only gave her Rp 100,000 ($11) to seek treatment at a community health center upon her return.
Yanti says she knows of at least 26 other Indonesian migrant workers sent out by the agent in Bahrain who have also been abused by their employers, in some cases sexually.
“I was afraid to tell this to the agents because they always threatened me and accused me of lying,” she says.
Awajir, a field recruiter for SBM in the province, said the company was fully committed to its obligations to Yanti.
“We even spent Rp 16.5 million of our own to bring her home when her parents got news that she had jumped from the window,” he said.
He added the company was also trying to process her insurance claim, but said Yanti had refused to have her injuries assessed at a hospital.
“We don’t want to be called irresponsible,” Awajir said. “She asked to be brought home, and we did it. She asked for her insurance payout, and we’re working on it.”
Baiq Halmawati, from the PPK, says more than 350 domestic workers from West Nusa Tenggara are currently stationed overseas and may be facing abuse or inhumane working conditions.
It happened when she worked as a domestic worker in the Saudi Arabian city of Nabuk, where she says her employers nearly worked her to death.
“They didn’t torture me, but they frequently scolded me and I had to work very hard, lifting heavy objects like gas canisters,” she says.
The back-breaking work did just that — it broke her back, and now Selvia cannot walk properly.
Such stories are common, but only receive sporadic attention, such as the recently discovered horrific abuse of Sumiati, an Indonesian maid, by Saudi employers.
Selvia returned to Indonesia in July 2010.
“When she tried to walk, bent over, I could see that it was costing her a lot of effort,” says Endang Susilowati, an activist from the Panca Karsa Foundation (PPK), which helps former migrant workers who have suffered abuse. “Now her condition is getting worse.”
Endang accuses the government of ignoring its obligations to Selvia by not allowing her full treatment the West Nusa Tenggara General Hospital in the provincial capital Mataram without a government-issued insurance card known as a Jamkesmas.
Selvia’s injury, she argues, stems from a workplace accident, and as such the migrant worker placement agency (that sent her to Saudi Arabia ought to pay for her medical bills and arrange her insurance.
Yanti Yusepa, 25, from West Lombok, is another injured former migrant worker who is still waiting for her insurance payout.
She went to Saudi Arabia on Aug. 29 and arrived back in Indonesia on Oct. 6, paralyzed from the waist down after jumping from a second-story window to get away from what she called chronically abusive employers.
Yanti says she worked for three different families in Saudi Arabia, fleeing from the first two after they starved and physically abused her.
She says the third family was particularly cruel. The daughters would burn her with a hot iron while their mother would beat her. That abuse induced her desperate flight.
“I’m still traumatized. I get scared every time I remember mustering the courage to jump from the second-floor window,” Yanti says. “Not a single person was willing to help me when they saw me fall.”
She says she has not received any compensation from her Jakarta-based placement agency, Sinar Berkilau Mandiri, or her Bahrain-based agent, Al Gandir.
She says the agency only gave her Rp 100,000 ($11) to seek treatment at a community health center upon her return.
Yanti says she knows of at least 26 other Indonesian migrant workers sent out by the agent in Bahrain who have also been abused by their employers, in some cases sexually.
“I was afraid to tell this to the agents because they always threatened me and accused me of lying,” she says.
Awajir, a field recruiter for SBM in the province, said the company was fully committed to its obligations to Yanti.
“We even spent Rp 16.5 million of our own to bring her home when her parents got news that she had jumped from the window,” he said.
He added the company was also trying to process her insurance claim, but said Yanti had refused to have her injuries assessed at a hospital.
“We don’t want to be called irresponsible,” Awajir said. “She asked to be brought home, and we did it. She asked for her insurance payout, and we’re working on it.”
Baiq Halmawati, from the PPK, says more than 350 domestic workers from West Nusa Tenggara are currently stationed overseas and may be facing abuse or inhumane working conditions.
World Tour Begins in Indonesia
Bowo Hartanto was working as a marketing communications analyst at a private company in Jakarta when he decided that his true calling in life was to travel the world. Before going off on his global adventure, however, he thought he would see Indonesia first.
And see Indonesia he did. In 2008, he landed a job working for a Norwegian anthropologist conducting research on Indonesian tribal communities.
For one year, Bowo traveled to remote locations in Sumatra, Java, Bali, Borneo, West Nusa Tenggara, East Nusa Tenggara and Papua.
It didn’t take him long to realize the beauty of his own country. “The journey really opened up my eyes. It taught me that Indonesia is indeed a paradise on earth,” he said.
Moved by his travels, Bowo, 26, started the www.traveljunkieindonesia.com blog with the goal of inspiring more Indonesians to see their own country.
He said that he was concerned that many young people here think that traveling abroad is much cooler.
“On Facebook, I see young Indonesians who are very proud to show off photos taken from holiday trips to other countries,” he said.
His blog aims to change this perception by showing that you don’t need to visit other countries to have fun. “Why would you go to other countries when the real paradise is right here?” he said.
Bowo believes that with all its amazing potential, the tourism industry should be more established.
“Instead of spending their money in Singapore or Kuala Lumpur, young travelers should take the time to see the small cities in our own country and help develop local tourism,” he said.
Bowo, who now lives in Bali, mostly writes about tourist destinations in Indonesia that have not been covered by the mainstream media.
His knowledge and inspiration come from the firsthand experience he gained during his one-year journey. And he’s always eager to discover new places.
Bowo acknowledges that he got hooked on traveling around Indonesia because he loved the beach.
“There’s nothing better than lying on a white, sandy beach and reading a good book,” he said.
But he now knows that Indonesia has more to offer than its beaches and he uses his blog to drum up interest.
“We all know that Indonesia is big, but most of us are afraid to really get out there and explore it,” he said.
Bowo said that of all the places that he’s been to, West Papua’s Raja Ampat, also known as Four Kings, was his favorite.
Raja Ampat, which covers more than 40,000 square kilometers of land and water, is divided into the four main islands of Misool, Salawati, Batanta and Waigeo in addition to thousands of smaller ones.
It also includes Cenderawasih Bay, the largest national marine park in Indonesia.
“I have a strong hunch that Raja Ampat is one of the most beautiful places in the world,” Bowo said.
In the Coral Triangle, the area is known to have the highest coral diversity in the world, making it a perfect diving site. “It’s definitely one of the places you must go to before you die,” he said.
In one of his articles, Bowo also writes about the beauty of Menjangan Island, part of the West Bali National Park. Unknown to most tourists, Bowo said it has some of the best beaches in Bali.
It still has perfectly preserved corals and crystal-clear waters, which means that people don’t have to go scuba diving to appreciate them.
You can just plop into the water anywhere with a snorkel and mask and get ready to enjoy the scenery, he said.
“You have to bring an underwater camera if you go to there,” he added.
Bowo uses social networking Web sites Facebook and Twitter to draw people to his blog in an attempt to spread the word about the beauty of his homeland.
Even though it’s still a new project, he is starting to see some success. Earlier this month, he received an award from a prominent marketing magazine for his efforts to promote Indonesian tourism on the Internet.
Bowo said that Travel Junkie Indonesia is a long-term project. “It’s not about money. It’s all about what I love to do,” he said.
Bowo has since widened his travel horizons beyond Indonesia.
He has been to all countries in Southeast Asia, save for the Philippines.
He is also saving up and looking for sponsors to help finance his dream to start seeing the rest of the world sometime next year.
Currently, he is writing a nonfiction book, “Bali Adalah Negaraku” (“Bali Is My Country”), about a group of foreigners living in Bali who now call it home.
“If those foreigners love Indonesia so much, why can’t we?” he said.
And see Indonesia he did. In 2008, he landed a job working for a Norwegian anthropologist conducting research on Indonesian tribal communities.
For one year, Bowo traveled to remote locations in Sumatra, Java, Bali, Borneo, West Nusa Tenggara, East Nusa Tenggara and Papua.
It didn’t take him long to realize the beauty of his own country. “The journey really opened up my eyes. It taught me that Indonesia is indeed a paradise on earth,” he said.
Moved by his travels, Bowo, 26, started the www.traveljunkieindonesia.com blog with the goal of inspiring more Indonesians to see their own country.
He said that he was concerned that many young people here think that traveling abroad is much cooler.
“On Facebook, I see young Indonesians who are very proud to show off photos taken from holiday trips to other countries,” he said.
His blog aims to change this perception by showing that you don’t need to visit other countries to have fun. “Why would you go to other countries when the real paradise is right here?” he said.
Bowo believes that with all its amazing potential, the tourism industry should be more established.
“Instead of spending their money in Singapore or Kuala Lumpur, young travelers should take the time to see the small cities in our own country and help develop local tourism,” he said.
Bowo, who now lives in Bali, mostly writes about tourist destinations in Indonesia that have not been covered by the mainstream media.
His knowledge and inspiration come from the firsthand experience he gained during his one-year journey. And he’s always eager to discover new places.
Bowo acknowledges that he got hooked on traveling around Indonesia because he loved the beach.
“There’s nothing better than lying on a white, sandy beach and reading a good book,” he said.
But he now knows that Indonesia has more to offer than its beaches and he uses his blog to drum up interest.
“We all know that Indonesia is big, but most of us are afraid to really get out there and explore it,” he said.
Bowo said that of all the places that he’s been to, West Papua’s Raja Ampat, also known as Four Kings, was his favorite.
Raja Ampat, which covers more than 40,000 square kilometers of land and water, is divided into the four main islands of Misool, Salawati, Batanta and Waigeo in addition to thousands of smaller ones.
It also includes Cenderawasih Bay, the largest national marine park in Indonesia.
“I have a strong hunch that Raja Ampat is one of the most beautiful places in the world,” Bowo said.
In the Coral Triangle, the area is known to have the highest coral diversity in the world, making it a perfect diving site. “It’s definitely one of the places you must go to before you die,” he said.
In one of his articles, Bowo also writes about the beauty of Menjangan Island, part of the West Bali National Park. Unknown to most tourists, Bowo said it has some of the best beaches in Bali.
It still has perfectly preserved corals and crystal-clear waters, which means that people don’t have to go scuba diving to appreciate them.
You can just plop into the water anywhere with a snorkel and mask and get ready to enjoy the scenery, he said.
“You have to bring an underwater camera if you go to there,” he added.
Bowo uses social networking Web sites Facebook and Twitter to draw people to his blog in an attempt to spread the word about the beauty of his homeland.
Even though it’s still a new project, he is starting to see some success. Earlier this month, he received an award from a prominent marketing magazine for his efforts to promote Indonesian tourism on the Internet.
Bowo said that Travel Junkie Indonesia is a long-term project. “It’s not about money. It’s all about what I love to do,” he said.
Bowo has since widened his travel horizons beyond Indonesia.
He has been to all countries in Southeast Asia, save for the Philippines.
He is also saving up and looking for sponsors to help finance his dream to start seeing the rest of the world sometime next year.
Currently, he is writing a nonfiction book, “Bali Adalah Negaraku” (“Bali Is My Country”), about a group of foreigners living in Bali who now call it home.
“If those foreigners love Indonesia so much, why can’t we?” he said.
Indonesian Tigers Among Those Struggling Against Extinction
The mighty tiger's struggle against extinction has received little international notice until becoming the focus of a historic 13-state summit that opens in Russia's imperial capital on Sunday.
The fabled beast's numbers have dwindled precipitously over the last century, plunging from 100,000 to just 3,200 today.
They have fallen victim to poachers who skin the majestic animals, selling their internal organs and even paws and whiskers for ancient Asian remedies.
And they have seen humans infringe on their territory, destroying their delicate habitat through industrial expansion, logging and mining.
This grim reality has already spelled the extinction of three tiger subspecies -- the Bali, the Caspian and the Java. The South China tiger meanwhile has not been seen in the wild since 1983.
Another five subspecies are endangered: there are less than 500 of the world's biggest tiger, the Amur; 1,700 to 2,000 of its cousin the Bengal; 350 to 700 Indochinese tigers; 400 Sumatra tigers and 200 to 500 Malaysian big cats.
The graceful cats roam free in 12 countries besides Russia: Bangladesh, Bhutan, Cambodia, China, India, Indonesia, Laos, Malaysia, Myanmar, Nepal, Thailand and Vietnam.
This makes the beast into one of the world's sturdiest animals, with its habitat ranging from the steamy jungles of India and Southeast Asia to the icy cedar forests of Russia's Far East and the soaring mountains of Bhutan.
The Amur tiger bears the name of the history-steeped Siberian river that separates Russia and China. The cats run around 2.4 to three meters from nose to tail and weigh up to 320 kilograms.
While far more prevalent, its Bengal cousin is slightly smaller, weighing around 160 kilograms and reaching about 2.2 meters "between the pegs."
Although hunting tigers is strictly prohibited, they are still poached in great numbers in both India and China, which through the centuries have prized the medicinal powers of their bones, paws and whiskers.
The World Wildlife Fund (WWF) estimates that more than 1,000 tigers have been reduced to skin and bone in the past decade.
India, home to half of the world's tigers but also 54 percent of the poaching and trafficking activity, is by far the biggest culprit, according to world monitors.
In a bid to reverse its dire record, India has set up a special 32,000 square kilometer sanctuary for the animal and pumped millions of dollars into a new conservation program.
But these efforts have fallen well short of their targets: India's tiger population has fallen to 1,411, from the 3,700 estimated to be alive in 2002 and the 40,000 estimated to be roaming free at the time of its 1947 independence.
China for its part remains the world's largest consumer of tiger products despite their official ban, with no tiger parts allowed in Chinese pharmaceuticals since 1993.
But poachers' guns are not the only threat facing tigers.
They have also seen their natural habitat shrink around them, with deforestation and infrastructure development slashing their roaming area by 40 percent, according to the WWF.
Russia is the only country to have seen its tiger population rise in recent years.
It had just 80 to 100 in the 1960s but now has around 500, with experts praising summit host Vladimir Putin, the Russian prime minister, for taking an active role in the cause.
The fabled beast's numbers have dwindled precipitously over the last century, plunging from 100,000 to just 3,200 today.
They have fallen victim to poachers who skin the majestic animals, selling their internal organs and even paws and whiskers for ancient Asian remedies.
And they have seen humans infringe on their territory, destroying their delicate habitat through industrial expansion, logging and mining.
This grim reality has already spelled the extinction of three tiger subspecies -- the Bali, the Caspian and the Java. The South China tiger meanwhile has not been seen in the wild since 1983.
Another five subspecies are endangered: there are less than 500 of the world's biggest tiger, the Amur; 1,700 to 2,000 of its cousin the Bengal; 350 to 700 Indochinese tigers; 400 Sumatra tigers and 200 to 500 Malaysian big cats.
The graceful cats roam free in 12 countries besides Russia: Bangladesh, Bhutan, Cambodia, China, India, Indonesia, Laos, Malaysia, Myanmar, Nepal, Thailand and Vietnam.
This makes the beast into one of the world's sturdiest animals, with its habitat ranging from the steamy jungles of India and Southeast Asia to the icy cedar forests of Russia's Far East and the soaring mountains of Bhutan.
The Amur tiger bears the name of the history-steeped Siberian river that separates Russia and China. The cats run around 2.4 to three meters from nose to tail and weigh up to 320 kilograms.
While far more prevalent, its Bengal cousin is slightly smaller, weighing around 160 kilograms and reaching about 2.2 meters "between the pegs."
Although hunting tigers is strictly prohibited, they are still poached in great numbers in both India and China, which through the centuries have prized the medicinal powers of their bones, paws and whiskers.
The World Wildlife Fund (WWF) estimates that more than 1,000 tigers have been reduced to skin and bone in the past decade.
India, home to half of the world's tigers but also 54 percent of the poaching and trafficking activity, is by far the biggest culprit, according to world monitors.
In a bid to reverse its dire record, India has set up a special 32,000 square kilometer sanctuary for the animal and pumped millions of dollars into a new conservation program.
But these efforts have fallen well short of their targets: India's tiger population has fallen to 1,411, from the 3,700 estimated to be alive in 2002 and the 40,000 estimated to be roaming free at the time of its 1947 independence.
China for its part remains the world's largest consumer of tiger products despite their official ban, with no tiger parts allowed in Chinese pharmaceuticals since 1993.
But poachers' guns are not the only threat facing tigers.
They have also seen their natural habitat shrink around them, with deforestation and infrastructure development slashing their roaming area by 40 percent, according to the WWF.
Russia is the only country to have seen its tiger population rise in recent years.
It had just 80 to 100 in the 1960s but now has around 500, with experts praising summit host Vladimir Putin, the Russian prime minister, for taking an active role in the cause.
Indonesia's Peterporn Celebrity Sex Tape Scandal Trial Opens Amid Tight Security
Heavy police security and screaming fans greeted Peterpan frontman Nasriel Irham as he arrived at the Bandung District Court for the first day of his trial for alleged crimes in relation to the filming of two homemade pornographic celebrity sex tapes.
Nasriel, popularly known as Ariel, the former singer of rock band Peterpan, was accompanied by his girlfriend, celebrity Luna Maya, who allegedly features on one of the clips. She smiled and waved to the press and fans as she braved a media scrum to enter the courtroom.
Ariel will reportedly not be indicted for taping his sexual liaisons with Luna and former television presenter Cut Tari, as prosecutors have been unable to find the appropriate legal articles to charge him under. Instead, he will face charges for his role in the alleged distribution of pornographic materials, which is illegal under the 2008 Anti-Pornography Law.
The hearing, which began just after 9 a.m., is closed to the public.
Twitter user @uwiputri said the security — which included 300 officers and a water canon — was too much. “Why? The police look as if they are going to a war while they are only securing Ariel’s hearing,” she tweeted.
User @maristytwins questioned why the hearing was closed to the public. “Will there be a reenactment in the court room?” she wrote.
The hearing is ongoing.
Nasriel, popularly known as Ariel, the former singer of rock band Peterpan, was accompanied by his girlfriend, celebrity Luna Maya, who allegedly features on one of the clips. She smiled and waved to the press and fans as she braved a media scrum to enter the courtroom.
Ariel will reportedly not be indicted for taping his sexual liaisons with Luna and former television presenter Cut Tari, as prosecutors have been unable to find the appropriate legal articles to charge him under. Instead, he will face charges for his role in the alleged distribution of pornographic materials, which is illegal under the 2008 Anti-Pornography Law.
The hearing, which began just after 9 a.m., is closed to the public.
Twitter user @uwiputri said the security — which included 300 officers and a water canon — was too much. “Why? The police look as if they are going to a war while they are only securing Ariel’s hearing,” she tweeted.
User @maristytwins questioned why the hearing was closed to the public. “Will there be a reenactment in the court room?” she wrote.
The hearing is ongoing.
Indonesian, Saudi Labor Ties in Question After Maid’s Death
With the public still seething over the alleged torture of Sumiati, an Indonesian maid working in Saudi Arabia, reports on Friday that another Indonesian maid had been murdered in the Gulf state prompted President Susilo Bambang Yudhoyono to call for a full review into conditions for Indonesians working abroad.
The president described the reported murder of the maid, identified as Kikim Komalasari, from Cianjur, West Java, as “beyond inhumane.”
“We need to review all cooperation agreements with other countries, mainly with Saudi Arabia,” Yudhoyono said before an emergency cabinet meeting called to discuss the issue. “Steps must be taken.”
Manpower and Transmigration Minister Muhaimin Iskandar said Kikim, 36, who had been working in the city of Abha since June 2009, had died from injuries caused by physical abuse.
Sumiati has been hospitalized in Medina since Nov. 8 after suffering severe cuts to her lips, believed to have been made with scissors, as well as internal injuries from repeated beatings.
With that issue still running hot, Muhaimin on Friday confirmed Kikim’s body had been found on Thursday in a dumpster in Abha, about 600 kilometers south of Jeddah.
The death could not have come at a worse time for relations between Indonesia and Saudi Arabia. As commentators were railing against the Sumiati incident, the Saudi ambassador to Indonesia was summoned to the Ministry of Foreign Affairs and a small but vocal group of protesters gathered outside its embassy.
The cases highlight growing public awareness of the hardships faced by about 3.2 million migrant workers, more than a third of whom work in the Middle East. Activists have long complained that Indonesia lags behind other labor exporters when it comes to protecting its workers.
Foreign Affairs Minister Marty Natalegawa said Saudi Arabia did not have a memorandum of understanding with Indonesia regarding migrant workers. “We will try to convince them that this is needed,” he said.
Problems encountered by migrant workers in Malaysia and Jordan have led to frequent moratoriums on sending workers to those countries, but they are frequently violated.
Yudhoyono said an agreement with Saudi Arabia would be a prerequisite for sending more workers there.
He also complained that reports of maltreatment often came too late, as had happened in the two latest cases.
“We’re planning to give cellphones to all migrant workers,” he said. “That way, at least, we can communicate instantly.”
Muhaimin said a moratorium on sending workers to Saudi Arabia might be necessary in light of the recent abuse cases. “To stop sending migrant workers is one effective way to eradicate abuse, but we have not reached a final decision,” he said.
Indonesian consular officials in Saudi Arabia, he added, are currently gathering information on both Kikim and Sumiati’s cases.
Suhartono, a Labor Ministry spokesman, said a team was also being sent to Cianjur to meet with Kikim’s family, and that the labor supply company that had sent Kikim to Saudi Arabia had adequate insurance to cover compensation.
The minister for women’s empowerment, Linda Amalia Sari, also left for Saudi Arabia on Friday to discuss the abuse cases with Saudi authorities.
“We intend to make a bilateral agreement regarding the protection of migrant workers with the Saudi Arabian government,” she said before leaving. “But we also need to fix the problems in our own country, since 80 percent of the root of the problem is here.”
She said illegal migration and inadequate training before departure contributed to the plight of migrant workers.
The president described the reported murder of the maid, identified as Kikim Komalasari, from Cianjur, West Java, as “beyond inhumane.”
“We need to review all cooperation agreements with other countries, mainly with Saudi Arabia,” Yudhoyono said before an emergency cabinet meeting called to discuss the issue. “Steps must be taken.”
Manpower and Transmigration Minister Muhaimin Iskandar said Kikim, 36, who had been working in the city of Abha since June 2009, had died from injuries caused by physical abuse.
Sumiati has been hospitalized in Medina since Nov. 8 after suffering severe cuts to her lips, believed to have been made with scissors, as well as internal injuries from repeated beatings.
With that issue still running hot, Muhaimin on Friday confirmed Kikim’s body had been found on Thursday in a dumpster in Abha, about 600 kilometers south of Jeddah.
The death could not have come at a worse time for relations between Indonesia and Saudi Arabia. As commentators were railing against the Sumiati incident, the Saudi ambassador to Indonesia was summoned to the Ministry of Foreign Affairs and a small but vocal group of protesters gathered outside its embassy.
The cases highlight growing public awareness of the hardships faced by about 3.2 million migrant workers, more than a third of whom work in the Middle East. Activists have long complained that Indonesia lags behind other labor exporters when it comes to protecting its workers.
Foreign Affairs Minister Marty Natalegawa said Saudi Arabia did not have a memorandum of understanding with Indonesia regarding migrant workers. “We will try to convince them that this is needed,” he said.
Problems encountered by migrant workers in Malaysia and Jordan have led to frequent moratoriums on sending workers to those countries, but they are frequently violated.
Yudhoyono said an agreement with Saudi Arabia would be a prerequisite for sending more workers there.
He also complained that reports of maltreatment often came too late, as had happened in the two latest cases.
“We’re planning to give cellphones to all migrant workers,” he said. “That way, at least, we can communicate instantly.”
Muhaimin said a moratorium on sending workers to Saudi Arabia might be necessary in light of the recent abuse cases. “To stop sending migrant workers is one effective way to eradicate abuse, but we have not reached a final decision,” he said.
Indonesian consular officials in Saudi Arabia, he added, are currently gathering information on both Kikim and Sumiati’s cases.
Suhartono, a Labor Ministry spokesman, said a team was also being sent to Cianjur to meet with Kikim’s family, and that the labor supply company that had sent Kikim to Saudi Arabia had adequate insurance to cover compensation.
The minister for women’s empowerment, Linda Amalia Sari, also left for Saudi Arabia on Friday to discuss the abuse cases with Saudi authorities.
“We intend to make a bilateral agreement regarding the protection of migrant workers with the Saudi Arabian government,” she said before leaving. “But we also need to fix the problems in our own country, since 80 percent of the root of the problem is here.”
She said illegal migration and inadequate training before departure contributed to the plight of migrant workers.
Friday, November 19, 2010
Tesco and Walmart Will Sign in Indonesia
National modern retail market will be enlivened by some new foreign players. Legitnya retail cake attract the world's two retail giants, Tesco of Britain and the Walmart of the United States, tasted it.
Chairman of the Indonesian Employers Association Retail (Aprindo) Benjamin J Mailool not deny the trend of foreign retailers to Indonesia intensified penetration.
"We can not restrict foreign players into our retail sector and this trend is inevitable," Benjamin said after a public hearing with the Commission of Trade and Industry's parliament, on Tuesday night, November 17, 2009.
Walmart and Tesco, said Benjamin, had entered Indonesia as an important list of the next investment destination. "It's a matter Watu, Indonesia has entered the radar for their expansion," he said.
The three countries became sweet cakes retail world, namely China, India, and Indonesia. Go to India, a little difficult in regulation. While China's entry, even though geographically the land outside, but another world of retail competition is very strong.
In fact, some foreign players who already exist in Indonesia, such as Carrefour will launch an expansion through the addition of outlet-outlet.
Benjamin estimates that Walmart and Tesco will enter Indonesia through the merger system. "Then immediately make a new will be difficult," he said.
In addition to a large population, Indonesia's market attractive for retail development due to see a still positive economic growth, political stability economic, and geographic Indonesian archipelago is still potential for the distribution of goods, particularly eastern Indonesia.
"But in addition, they need the certainty of law and trade regulation. For example, the case of Commission who reap the pros and cons will be a consideration," said Benjamin.
Chairman of the Indonesian Employers Association Retail (Aprindo) Benjamin J Mailool not deny the trend of foreign retailers to Indonesia intensified penetration.
"We can not restrict foreign players into our retail sector and this trend is inevitable," Benjamin said after a public hearing with the Commission of Trade and Industry's parliament, on Tuesday night, November 17, 2009.
Walmart and Tesco, said Benjamin, had entered Indonesia as an important list of the next investment destination. "It's a matter Watu, Indonesia has entered the radar for their expansion," he said.
The three countries became sweet cakes retail world, namely China, India, and Indonesia. Go to India, a little difficult in regulation. While China's entry, even though geographically the land outside, but another world of retail competition is very strong.
In fact, some foreign players who already exist in Indonesia, such as Carrefour will launch an expansion through the addition of outlet-outlet.
Benjamin estimates that Walmart and Tesco will enter Indonesia through the merger system. "Then immediately make a new will be difficult," he said.
In addition to a large population, Indonesia's market attractive for retail development due to see a still positive economic growth, political stability economic, and geographic Indonesian archipelago is still potential for the distribution of goods, particularly eastern Indonesia.
"But in addition, they need the certainty of law and trade regulation. For example, the case of Commission who reap the pros and cons will be a consideration," said Benjamin.
8 Entrepreneur's Biggest Mall Jakarta
The developers of the property, especially if the shopping center or mall never stopped building projects. In fact, according to Jones Lang LaSalle, the supply of shopping center space in Jakarta has reached 2.13 million square meters per quarter III-2010.
Head of Research Jones Lang LaSalle, Anton Sitorus, acknowledged, stimulation of the retail business in Jakarta have positive impact on occupancy levels of the shopping center to 80 percent until the third quarter of 2010.
"Retail business is still the perspective of the future to encourage the developers continue to develop berbelanjaan center or mall," said Anton to VIVAnews in Jakarta, Tuesday, November 16, 2010.
Well, anyone that many employers big mall developed a number of malls in Jakarta. According to Anton, they include:1. Lippo Group, the project Pluit Village, Pejaten Village and is currently developing Kemang Village and St. Morris.
Lippo St Moritz2. Djarum Group, the project Grand Indonesia and WTC Mangga Dua.
Shopping at Grand Indonesia3. Duta Pertiwi, with a number of projects that are always synonymous with the brand of ITC.
ITC Roxy Mas (Project Duta Pertiwi)4. Great Group Podomoro, with project Senayan City, Brass City, and Central Park.
Senayan City5. Pakuwon Group, the project Blok M Plaza and Gandaria City.
Blok M Plaza6. Bakrie Group, the project Epicentrum and Market Festival.
Super Block mockups Epicentrum7. Supreme, with projects Mal Kelapa Gading and La Piazza.
Supreme Kelapa Gading8. Ciputra Group, with Mal Ciputra of Ciputra World.
Head of Research Jones Lang LaSalle, Anton Sitorus, acknowledged, stimulation of the retail business in Jakarta have positive impact on occupancy levels of the shopping center to 80 percent until the third quarter of 2010.
"Retail business is still the perspective of the future to encourage the developers continue to develop berbelanjaan center or mall," said Anton to VIVAnews in Jakarta, Tuesday, November 16, 2010.
Well, anyone that many employers big mall developed a number of malls in Jakarta. According to Anton, they include:1. Lippo Group, the project Pluit Village, Pejaten Village and is currently developing Kemang Village and St. Morris.
Lippo St Moritz2. Djarum Group, the project Grand Indonesia and WTC Mangga Dua.
Shopping at Grand Indonesia3. Duta Pertiwi, with a number of projects that are always synonymous with the brand of ITC.
ITC Roxy Mas (Project Duta Pertiwi)4. Great Group Podomoro, with project Senayan City, Brass City, and Central Park.
Senayan City5. Pakuwon Group, the project Blok M Plaza and Gandaria City.
Blok M Plaza6. Bakrie Group, the project Epicentrum and Market Festival.
Super Block mockups Epicentrum7. Supreme, with projects Mal Kelapa Gading and La Piazza.
Supreme Kelapa Gading8. Ciputra Group, with Mal Ciputra of Ciputra World.
It's Most Expensive Rental Stores Mall Jakarta
Rental activity (service charge), shopping center or mall in Jakarta is very excited. Evidently, many renters (tenants) to open new stores, mainly to use the momentum holidays, like Ramadan, Eid, Christmas and New Year.
Cushman & Wakefield Indonesia releases, along the third quarter of 2010, the rate of absorption of retail space in Jakarta was recorded at 77,900 square meters (m2), an increase of 40.8 percent compared to the absorption level of the previous quarter.
The high absorption rate, especially because of the realization of the opening of the main tenantry (anchor) and grew up in a newly built shopping centers, such as Gandaria City.
Soany According to Gunawan, senior manager of research & advisory PT Cushman & Wakefield of Indonesia, the absorption of retail space in Jakarta could penetrate over 95 per cent, mainly in shopping centers that have a strategic location and visited by many visitors, and has a large and reputable tenants.
"Also the target market in the wandering," he told VIVAnews in Jakarta.
In fact, he said, although the rental store in the shopping center or mall is more expensive, tenant interest remains high. Well, whichever mall carrying the most expensive in providing rental store?
Soany said Pacific Place, Plaza Indonesia, Grand Indonesia, Senayan City and known to fix the basic rental price of about Rp834 thousand or U.S. $ 104 (EUR824) per m2 per month. "That's for the rental price of special stores in premium locations or CBD (central business) on ground floor per quarter III-2010," he said.
Senayan City
As for the cost of renting outside the CBD or in the middle of the complex housing that ranges from Rp499 thousand or U.S. $ 62 (EUR494) per m2 per month, he held Pondok Indah Plaza, Mal Kelapa Gading, Mal Pluit, Emporium Pluit Mall, and Gandaria City, and Central Park.
"While the average rental store in the mall Jakarta reached Rp597 thousand or U.S. $ 74 (EUR591) per m2 per month," said Soany.
Cushman & Wakefield Indonesia releases, along the third quarter of 2010, the rate of absorption of retail space in Jakarta was recorded at 77,900 square meters (m2), an increase of 40.8 percent compared to the absorption level of the previous quarter.
The high absorption rate, especially because of the realization of the opening of the main tenantry (anchor) and grew up in a newly built shopping centers, such as Gandaria City.
Soany According to Gunawan, senior manager of research & advisory PT Cushman & Wakefield of Indonesia, the absorption of retail space in Jakarta could penetrate over 95 per cent, mainly in shopping centers that have a strategic location and visited by many visitors, and has a large and reputable tenants.
"Also the target market in the wandering," he told VIVAnews in Jakarta.
In fact, he said, although the rental store in the shopping center or mall is more expensive, tenant interest remains high. Well, whichever mall carrying the most expensive in providing rental store?
Soany said Pacific Place, Plaza Indonesia, Grand Indonesia, Senayan City and known to fix the basic rental price of about Rp834 thousand or U.S. $ 104 (EUR824) per m2 per month. "That's for the rental price of special stores in premium locations or CBD (central business) on ground floor per quarter III-2010," he said.
Senayan City
As for the cost of renting outside the CBD or in the middle of the complex housing that ranges from Rp499 thousand or U.S. $ 62 (EUR494) per m2 per month, he held Pondok Indah Plaza, Mal Kelapa Gading, Mal Pluit, Emporium Pluit Mall, and Gandaria City, and Central Park.
"While the average rental store in the mall Jakarta reached Rp597 thousand or U.S. $ 74 (EUR591) per m2 per month," said Soany.
Google challenger So Taipan Chinese Richest
Forbes has just released 400 people from the land of rich Chinese. The total wealth of the 400th person to reach U.S. $ 423 billion, or jump over the previous year to U.S. $ 314 billion.
The richest man in China's number one held by Qinghiu Zong, Wahaha Group, a food entrepreneur. The total wealth of this 65-year-old businessman was U.S. $ 8 billion.
What is interesting precisely the number two position. This ranking is actually held by young entrepreneurs whose name skyrocketed in the information technology industry. He is Robin Li, founder of search engine Baidu Inc., The challenger giant Google.
Robin Li's wealth soared to U.S. $ 4 billion a year to $ 7.2 billion. Breakout 42-year-old entrepreneur wealth was driven by the rapid growth of Internet users in China. Baidu's shares surged 143 percent in this year.
Robin Li did not this time just enter Forbes list of wealthy businessmen. In fact, last year he entered the world's richest people list at number 258.
Wealth Ma Li and his wife Melissa, doubled in a year. Baidu's stock price continues rising, thanks to a sleek performance, and successfully faced tough competition against Google.
Li is known not only as the founder, now he also became chairman and chief executive officer of Baidu, Inc.. He became the controlling figure of the Internet company from the Bamboo Curtain country as a whole, including the matter of strategy and business operations.
Within nine years after Baidu was founded in January 2000, Li has successfully brought the largest search engine Baidu in China, which controls more than 70 percent market share. Baidu is also the third largest independent search engine in the world.
In 2005, Baidu successfully completed an IPO on the NASDAQ exchange. In 2007 also, Baidu became the first Chinese company that entered the ranks of the NASDAQ-100 Index.
Prior to founding Baidu, Li is one of the search engine experts in the world. Hyperlink analysis his patented in 1996, is one of the findings on which the formation of Baidu's search engine technology.
Initially, he worked as a staff engineer for Infoseek in Silicon Valley, the pioneer in the Internet search engine company, from July 1997 to December 1999, then as a senior consultant for IDD Information Services from May 1994 until June 1997.
Li received his Bachelor of Science Degree in Information Management from Peking University in 1991, and obtained his Master of Science Degree in Computer Science from State University of New York in 1994
The richest man in China's number one held by Qinghiu Zong, Wahaha Group, a food entrepreneur. The total wealth of this 65-year-old businessman was U.S. $ 8 billion.
What is interesting precisely the number two position. This ranking is actually held by young entrepreneurs whose name skyrocketed in the information technology industry. He is Robin Li, founder of search engine Baidu Inc., The challenger giant Google.
Robin Li's wealth soared to U.S. $ 4 billion a year to $ 7.2 billion. Breakout 42-year-old entrepreneur wealth was driven by the rapid growth of Internet users in China. Baidu's shares surged 143 percent in this year.
Robin Li did not this time just enter Forbes list of wealthy businessmen. In fact, last year he entered the world's richest people list at number 258.
Wealth Ma Li and his wife Melissa, doubled in a year. Baidu's stock price continues rising, thanks to a sleek performance, and successfully faced tough competition against Google.
Li is known not only as the founder, now he also became chairman and chief executive officer of Baidu, Inc.. He became the controlling figure of the Internet company from the Bamboo Curtain country as a whole, including the matter of strategy and business operations.
Within nine years after Baidu was founded in January 2000, Li has successfully brought the largest search engine Baidu in China, which controls more than 70 percent market share. Baidu is also the third largest independent search engine in the world.
In 2005, Baidu successfully completed an IPO on the NASDAQ exchange. In 2007 also, Baidu became the first Chinese company that entered the ranks of the NASDAQ-100 Index.
Prior to founding Baidu, Li is one of the search engine experts in the world. Hyperlink analysis his patented in 1996, is one of the findings on which the formation of Baidu's search engine technology.
Initially, he worked as a staff engineer for Infoseek in Silicon Valley, the pioneer in the Internet search engine company, from July 1997 to December 1999, then as a senior consultant for IDD Information Services from May 1994 until June 1997.
Li received his Bachelor of Science Degree in Information Management from Peking University in 1991, and obtained his Master of Science Degree in Computer Science from State University of New York in 1994
Nikko AM Tyndall Investments Acquisition
Timothy McCarthy, Chairman & CEO of Nikko Asset Management Co.., Ltd.. (Nikko AM) has announced that it agreed to acquire the fund manager Tyndall Investments of the Suncorp Group, one of the largest financial services organizations in Australia and New Zealand.
Tyndall Investments (Tyndall) is an investment fund management companies from Australia and New Zealand which has gained many awards and has assets under management of funds Aus $ 25 billion. The company is known and respected in both countries manage the assets Australian & New Zealand Equity and fixed interest on behalf of institutional investors, pension funds, and private clients in a range of products to stock and mutual fund area. Supported 63 people staff and offices in Sydney, Brisbane, Melbourne, Auckland, New Zealand plus.
In addition, Tyndall known as the largest investment management companies of the 15th in Australia and ranked the 5th largest in New Zealand. This acquisition will create an important strategic partnerships in Australia. With a potential market of about Aus $ 1.25 trillion, Australia is the largest mutual fund market-4 in the world and is expected to grow 13% CAGR (compound annual growth rate) between 2010 -20.
Nikko AM will support the supervision and management of assets to Suncorp Tyndall Group. That will help provide investment products for companies and contributes to the range of insurance and savings products aimed at Suncorp 7 million customers.
Clearly, the acquisition of Tyndall will enhance Nikko AM funds under management to $ 145 billion. This is a step Nikko AM to become Asia's leading investment management firm. These last few years, Nikko AM successfully diversify beyond its reputation as one of the largest asset management company in Japan, where Nikko AM has more than 200 distributors. Nikko AM has established its operations in Asia and other countries significantly.
Nikko AM has the capability of investment management and distribution in Tokyo, Singapore, London and New York, as well as offices in Hong Kong. In addition, Nikko AM holds 40% ownership in Rongtong Fund Management Company, a leading investment management company in China. This strength is supported by more than 530 employees worldwide, and in the near future almost 30% of its assets will come from outside Japan and nearly 30% of employees will be located outside of Japan as well.
Tyndall Investments (Tyndall) is an investment fund management companies from Australia and New Zealand which has gained many awards and has assets under management of funds Aus $ 25 billion. The company is known and respected in both countries manage the assets Australian & New Zealand Equity and fixed interest on behalf of institutional investors, pension funds, and private clients in a range of products to stock and mutual fund area. Supported 63 people staff and offices in Sydney, Brisbane, Melbourne, Auckland, New Zealand plus.
In addition, Tyndall known as the largest investment management companies of the 15th in Australia and ranked the 5th largest in New Zealand. This acquisition will create an important strategic partnerships in Australia. With a potential market of about Aus $ 1.25 trillion, Australia is the largest mutual fund market-4 in the world and is expected to grow 13% CAGR (compound annual growth rate) between 2010 -20.
Nikko AM will support the supervision and management of assets to Suncorp Tyndall Group. That will help provide investment products for companies and contributes to the range of insurance and savings products aimed at Suncorp 7 million customers.
Clearly, the acquisition of Tyndall will enhance Nikko AM funds under management to $ 145 billion. This is a step Nikko AM to become Asia's leading investment management firm. These last few years, Nikko AM successfully diversify beyond its reputation as one of the largest asset management company in Japan, where Nikko AM has more than 200 distributors. Nikko AM has established its operations in Asia and other countries significantly.
Nikko AM has the capability of investment management and distribution in Tokyo, Singapore, London and New York, as well as offices in Hong Kong. In addition, Nikko AM holds 40% ownership in Rongtong Fund Management Company, a leading investment management company in China. This strength is supported by more than 530 employees worldwide, and in the near future almost 30% of its assets will come from outside Japan and nearly 30% of employees will be located outside of Japan as well.
Monday, November 15, 2010
Ignored by Tifatul, Porn Star continues to harass Tifatul
Not getting a response, a Norwegian porn star Vicky Vette continues to tease the Minister of Communications and Information Tifatul Sembiring in cyberspace.
Still related to the event Tifatul controversial handshake with Michelle Obama, Vicky also wrote his opinion in a Twitter account, "Funny, I look nothing like Michelle ... but I give a better 'hand' shake (Funny, I saw nothing like Michelle Obama ... but I can give 'xxx' hands better). "
"Just email after you join ... Tiffie example, you have The Biggest I have ever seen," writes Vickie the meaning intended to Tiffie (call Tifatul Sembiring on Twitter).
Then came a question from one of a Twitter user who asked, "Arielpornstar or tiffie??"
"As for Who is cuter ... # Ariel Peterporn or # Tiffie? Ariel has great sex tapes ... Until I see one from # Tiffie it is hard to Decide," said Vicky Vette with ease.
Earlier, Vicky wrote a message in Twitter account, "@ tifsembiring Come to the USA and shake anything You Want:)"
Vicky also wrote that Tifatul can touch it anytime he wanted in public.
"Hmmm, I want to be a 'useful' is also the Minister of Communications of Indonesia!" Vicky added.
Temptations are not too effective. Tifatul not responding or responding to messages Vicky Vette been directed at former President and the Prosperous Justice Party was in Twitter. In fact, during relatively active Tifatul in twitter.
Still related to the event Tifatul controversial handshake with Michelle Obama, Vicky also wrote his opinion in a Twitter account, "Funny, I look nothing like Michelle ... but I give a better 'hand' shake (Funny, I saw nothing like Michelle Obama ... but I can give 'xxx' hands better). "
"Just email after you join ... Tiffie example, you have The Biggest I have ever seen," writes Vickie the meaning intended to Tiffie (call Tifatul Sembiring on Twitter).
Then came a question from one of a Twitter user who asked, "Arielpornstar or tiffie??"
"As for Who is cuter ... # Ariel Peterporn or # Tiffie? Ariel has great sex tapes ... Until I see one from # Tiffie it is hard to Decide," said Vicky Vette with ease.
Earlier, Vicky wrote a message in Twitter account, "@ tifsembiring Come to the USA and shake anything You Want:)"
Vicky also wrote that Tifatul can touch it anytime he wanted in public.
"Hmmm, I want to be a 'useful' is also the Minister of Communications of Indonesia!" Vicky added.
Temptations are not too effective. Tifatul not responding or responding to messages Vicky Vette been directed at former President and the Prosperous Justice Party was in Twitter. In fact, during relatively active Tifatul in twitter.
Hong Kong Eco-Friendly Prisons Controversial
Hong Kong created the first environmentally friendly prison. But this prison instead create a debate on the country's most densely populated.
Future prison costs the U.S. $ 200 million (USD 1.8 billion) to build facilities based on sustainable concepts. This concept includes open space with green features and energy efficient environment.
Authorities say the Lo Wu prison, which opened last August saying that this place aims to provide more humane living conditions to the 1400 women prisoners in that place.
Prison offers advanced features such as a green roof to a lower temperature, rooftop solar panels, natural lighting systems, a room with a higher level and larger residential blocks to enhance natural ventilation.
Lo Wu facility built in the next three years in 53 000 m2 plot of land in the remote region bordering China.
But the buildings that have acknowledged this environment creates debate. The government was unfair, creating a prison for the sake of showing a healthy life to the seven million inhabitants.
South China Morning Post reported that the jail was already stepping over government priorities.
Appears irony that convicted criminals who benefit from environmental planning, but law-abiding citizens have to compromise on their living and working environment to the poor spatial structure in the region.
Poverty in the region increased by 8.6% over several years from 1.16 million inhabitants in 2005 to 1.26 people in mid-2010, based on data from Oxfam Hong Kong, as quoted by Yahoo News
Future prison costs the U.S. $ 200 million (USD 1.8 billion) to build facilities based on sustainable concepts. This concept includes open space with green features and energy efficient environment.
Authorities say the Lo Wu prison, which opened last August saying that this place aims to provide more humane living conditions to the 1400 women prisoners in that place.
Prison offers advanced features such as a green roof to a lower temperature, rooftop solar panels, natural lighting systems, a room with a higher level and larger residential blocks to enhance natural ventilation.
Lo Wu facility built in the next three years in 53 000 m2 plot of land in the remote region bordering China.
But the buildings that have acknowledged this environment creates debate. The government was unfair, creating a prison for the sake of showing a healthy life to the seven million inhabitants.
South China Morning Post reported that the jail was already stepping over government priorities.
Appears irony that convicted criminals who benefit from environmental planning, but law-abiding citizens have to compromise on their living and working environment to the poor spatial structure in the region.
Poverty in the region increased by 8.6% over several years from 1.16 million inhabitants in 2005 to 1.26 people in mid-2010, based on data from Oxfam Hong Kong, as quoted by Yahoo News
Here are 10 Most Sophisticated Weapons in the Future
The race to develop sophisticated weapons are still ongoing. Here are 10 weapons which were amazing.
1. Aurora Excalibur
This weapon is an unmanned aircraft that operate with take off and land vertically. The aircraft can reach speeds of 460 mph (740 KMH) and can carry missiles to be fired. This aircraft can do all those things via remote control. Excalibur successfully tested in June 2009.
2. XM-25 grenade launcher
This weapon capable of firing 25 grenades at whatever distance, the distance can be adjusted and programmed the user. This new weapon combines the ability to shoot and the computer. According to rumors, XM-25 will be used in Afghanistan this month.
3. Hellads
Defense Advanced Research Projects Agency (DARPA) Pentagon to develop future laser weapons, known as the High Energy Liquid Laser Area Defense System. This laser system is made as short as possible in order to be mounted on tactical aircraft without affecting mission performance. The laser is powerful enough to shoot down rockets, missiles, and other artillery. Test level four weapon is scheduled to take place this year.
4. Camouflage Future, Metaflex
Scottish scientist develops camouflage to create materials that referred Metaflex. This material disappeared just as Harry Potter's cloak. Users will be no visible because Metaflex material to bend light when he reached the surface. Cloak missing was tested this year and potentially could be used as a weapon of defense.
5. Free Electron Laser
Navy (Navy) is planning another laser system that can shoot down rockets and missiles that attacked the ship. There is no limit the use of this laser when the target is not tracking, sensors, information exchange, and the target. The initial design was completed in March of weapons and weapon prototype is available in March 2012.
6. Railgun
Military United States (U.S.) test a version of the Railgun in 2008. This weapon can accelerate the speed of the projectile to 2.4 KMH (seven times the speed of sound). Perfect version of this weapon will be ready between 2020-2025 to come.
7. BioDesign Synthetic Organism
DARPA spends $ 6 million (USD 53.7 billion) for the project to create micro-organisms 'are programmed to live forever'. This microorganism contains a molecule that helps to survive, and can be used to kill only the flick of a switch. Berlum debut this weapon is still unknown.
8. China's killer weapon
Chinese Navy to develop 'murder weapon' that has the ability to target and destroy a U.S. airliner. This anti-ballistic missiles to attack U.S. aircraft at a distance of two thousand kilometers. Maneuverability makes it unpredictable this missile capable of avoiding radar. Debut of this weapon is unknown.
9. Hybrid Insect MEMS (HI-MEMS)
HI-MEMS consists of a half insect and half machine. First, micro-mechanical system is placed inside the insects during metamorphosis. Insects are operating like a remote control car. HI-MEMS will be used to collect information using sensors, such as a microphone or a gas detector. Debut of this weapon is unknown.
10. Silent Dread Weapon System
Silent Dread Weapon System has the ability to shoot 120 thousand bullets per minute. This weapon is completely electric driven, rather than gunpowder. Means that this weapon will not be silent, and there would be no heat. This weapon has not been diketahu Debut
1. Aurora Excalibur
This weapon is an unmanned aircraft that operate with take off and land vertically. The aircraft can reach speeds of 460 mph (740 KMH) and can carry missiles to be fired. This aircraft can do all those things via remote control. Excalibur successfully tested in June 2009.
2. XM-25 grenade launcher
This weapon capable of firing 25 grenades at whatever distance, the distance can be adjusted and programmed the user. This new weapon combines the ability to shoot and the computer. According to rumors, XM-25 will be used in Afghanistan this month.
3. Hellads
Defense Advanced Research Projects Agency (DARPA) Pentagon to develop future laser weapons, known as the High Energy Liquid Laser Area Defense System. This laser system is made as short as possible in order to be mounted on tactical aircraft without affecting mission performance. The laser is powerful enough to shoot down rockets, missiles, and other artillery. Test level four weapon is scheduled to take place this year.
4. Camouflage Future, Metaflex
Scottish scientist develops camouflage to create materials that referred Metaflex. This material disappeared just as Harry Potter's cloak. Users will be no visible because Metaflex material to bend light when he reached the surface. Cloak missing was tested this year and potentially could be used as a weapon of defense.
5. Free Electron Laser
Navy (Navy) is planning another laser system that can shoot down rockets and missiles that attacked the ship. There is no limit the use of this laser when the target is not tracking, sensors, information exchange, and the target. The initial design was completed in March of weapons and weapon prototype is available in March 2012.
6. Railgun
Military United States (U.S.) test a version of the Railgun in 2008. This weapon can accelerate the speed of the projectile to 2.4 KMH (seven times the speed of sound). Perfect version of this weapon will be ready between 2020-2025 to come.
7. BioDesign Synthetic Organism
DARPA spends $ 6 million (USD 53.7 billion) for the project to create micro-organisms 'are programmed to live forever'. This microorganism contains a molecule that helps to survive, and can be used to kill only the flick of a switch. Berlum debut this weapon is still unknown.
8. China's killer weapon
Chinese Navy to develop 'murder weapon' that has the ability to target and destroy a U.S. airliner. This anti-ballistic missiles to attack U.S. aircraft at a distance of two thousand kilometers. Maneuverability makes it unpredictable this missile capable of avoiding radar. Debut of this weapon is unknown.
9. Hybrid Insect MEMS (HI-MEMS)
HI-MEMS consists of a half insect and half machine. First, micro-mechanical system is placed inside the insects during metamorphosis. Insects are operating like a remote control car. HI-MEMS will be used to collect information using sensors, such as a microphone or a gas detector. Debut of this weapon is unknown.
10. Silent Dread Weapon System
Silent Dread Weapon System has the ability to shoot 120 thousand bullets per minute. This weapon is completely electric driven, rather than gunpowder. Means that this weapon will not be silent, and there would be no heat. This weapon has not been diketahu Debut
Sunday, November 14, 2010
Little Girl That seems to Heaven
The little girl her life is very short, only 10 years old. But the ordeal through which Zahra Baker, made the world shed tears for him. What kind of story?
This little girl lives in Queensland, Australia, before moving to North Carolina, USA, two years ago. Zahra went with his father, Adam Baker, who had just met with American women via the internet. Zahra biological mother, Emily Dietrich, postpartum depression that made him unconsciously deny the existence of a baby.
This is not the first suffering she experienced. He was sentenced to bone cancer when he was a toddler. Doctors had to amputate one of his legs when Zahra right when Zahra was five years old. Shortly thereafter, the medical team discovered a tumor in his lungs. These diseases require it to always follow chemotherapy.
Effects of chemotherapy appeared when he was eight years old. Zahra lost his hearing. Even so, he still grows a little girl who is active. Some friends say, he likes to attend various events for children's cancer. Included among them, the camp is usually held in the summer.
Zahra's name has become a popular American media since 9 October. At that time, police received a report that the girl with the freckled face is disappearing. In the midst of the investigation, police suspected he was dead. Because, found the bones of about 12 km from his house which is believed to belong to Zahra. Because, also found in the foot he used prosterik.
"Since the beginning of the investigation started, I was shaking. We found a lot of physical evidence that the possibility of Zahra has been found in dead condition," said Police Chief Hickory North Carolina, Tom Adkins. The bones were found earlier this month, in the bush areas Caldwell County.
Zahra lived in the area along with her stepmother, Elisha Baker, who is currently in prison. Elisa was arrested for allegedly turning a police investigation with a fake kidnapping note. Meanwhile Adam, when it was also detained in prison for crimes that had nothing to do with Zahra and was released on bail.
Elisha long run help the police investigation of suspect this pair there is a relationship with the loss of Zahra. Because, the police have trouble finding other people who see Zahra alive. On the same day, a few hours before Zahra completely disappeared, there was a strange incident.
There is a fire at the family home and the couple claimed Baker found a letter kidnapping. The letter contains the abduction of Adam boss's daughter and demanded a ransom. After investigation, the head of Adam and his daughter in a state fine. Elisha finally admitted he was fun to write a letter which entailed a fine police over the allegations with the law.
Soon, Zahra disappeared and the police feel there is something wrong. Search for missing girl case was later changed to homicide investigation. This step proved to be correct. Sources say, Elisa guiding police to the area of bushes, which are found Zahra prosthetic leg.
At around the same place, found the bones of the DNA test proved to belong to Zahra. Time of bone was found half-embedded. The police then conducted the excavation and found the remnants of the human body in a hole that is not too deep. "Medical experts in the field claimed, the bones are matched by a child," said Adkins.
Adam is currently in police questioning, while the investigation continues DNA to the bones were fragmented. While Elisa was also investigated, although the contents of the conversation still not be exposed to the media. Elisa is suspected because of writing a letter to a criminal site manager who blamed Adam.
"Investigator, agents, officers and staff working for this case is very sad for not managed to find her alive and bring him home. Today, we're all grieving," said Adkins
This little girl lives in Queensland, Australia, before moving to North Carolina, USA, two years ago. Zahra went with his father, Adam Baker, who had just met with American women via the internet. Zahra biological mother, Emily Dietrich, postpartum depression that made him unconsciously deny the existence of a baby.
This is not the first suffering she experienced. He was sentenced to bone cancer when he was a toddler. Doctors had to amputate one of his legs when Zahra right when Zahra was five years old. Shortly thereafter, the medical team discovered a tumor in his lungs. These diseases require it to always follow chemotherapy.
Effects of chemotherapy appeared when he was eight years old. Zahra lost his hearing. Even so, he still grows a little girl who is active. Some friends say, he likes to attend various events for children's cancer. Included among them, the camp is usually held in the summer.
Zahra's name has become a popular American media since 9 October. At that time, police received a report that the girl with the freckled face is disappearing. In the midst of the investigation, police suspected he was dead. Because, found the bones of about 12 km from his house which is believed to belong to Zahra. Because, also found in the foot he used prosterik.
"Since the beginning of the investigation started, I was shaking. We found a lot of physical evidence that the possibility of Zahra has been found in dead condition," said Police Chief Hickory North Carolina, Tom Adkins. The bones were found earlier this month, in the bush areas Caldwell County.
Zahra lived in the area along with her stepmother, Elisha Baker, who is currently in prison. Elisa was arrested for allegedly turning a police investigation with a fake kidnapping note. Meanwhile Adam, when it was also detained in prison for crimes that had nothing to do with Zahra and was released on bail.
Elisha long run help the police investigation of suspect this pair there is a relationship with the loss of Zahra. Because, the police have trouble finding other people who see Zahra alive. On the same day, a few hours before Zahra completely disappeared, there was a strange incident.
There is a fire at the family home and the couple claimed Baker found a letter kidnapping. The letter contains the abduction of Adam boss's daughter and demanded a ransom. After investigation, the head of Adam and his daughter in a state fine. Elisha finally admitted he was fun to write a letter which entailed a fine police over the allegations with the law.
Soon, Zahra disappeared and the police feel there is something wrong. Search for missing girl case was later changed to homicide investigation. This step proved to be correct. Sources say, Elisa guiding police to the area of bushes, which are found Zahra prosthetic leg.
At around the same place, found the bones of the DNA test proved to belong to Zahra. Time of bone was found half-embedded. The police then conducted the excavation and found the remnants of the human body in a hole that is not too deep. "Medical experts in the field claimed, the bones are matched by a child," said Adkins.
Adam is currently in police questioning, while the investigation continues DNA to the bones were fragmented. While Elisa was also investigated, although the contents of the conversation still not be exposed to the media. Elisa is suspected because of writing a letter to a criminal site manager who blamed Adam.
"Investigator, agents, officers and staff working for this case is very sad for not managed to find her alive and bring him home. Today, we're all grieving," said Adkins
No Need to Limit Shame Hot Money
BI plans with the government, which will issue the bond stabilization funds (BSF), responded to cold by the bankers. They assess the two authorities are less assertive in dealing with an increasingly hot money flooded the money market in this country.
Why should act half-heartedly? This is strange, let alone our finance minister is a former banker. He should know, would be very dangerous if the hot money coming in, said a director at a government bank.
As reported heavily in recent foreign funds into short-term instruments kept flowing. In just a matter of days, the numbers go up trillions of rupiah.
It is estimated that, this weekend, the figure has reached Rp270 trillion. The majority still ngendon in Government Securities (SUN), which as of 9 November to reach Rp195 trillion. Following in belakanganya SBI (Bank Indonesia Certificate) and the last in stock.
Now, if funds are withdrawn at the same heat (and it certainly happens), then the financial world of this country certainly broke down. Not only the financial sector and capital markets that would hit hard, the real sector would be affected due to the weakening rupiah. BSF will not be able to stabilize the situation like that, said the banker.
That is why, governments are advised to imitate the steps Brazil and Thailand who impose taxes on the funds coming from abroad. Rules that will be more complete if the deadline acquisition of securities in Indonesia (especially SUN and SBI) extended.
Nothing to be ashamed to imitate. Moreover, the hot money was almost pointless for us. Only adding to the burden alone, he said. He estimates that hot funds that will go home cages next year in line with the improving U.S. economy and Europe.
Why should act half-heartedly? This is strange, let alone our finance minister is a former banker. He should know, would be very dangerous if the hot money coming in, said a director at a government bank.
As reported heavily in recent foreign funds into short-term instruments kept flowing. In just a matter of days, the numbers go up trillions of rupiah.
It is estimated that, this weekend, the figure has reached Rp270 trillion. The majority still ngendon in Government Securities (SUN), which as of 9 November to reach Rp195 trillion. Following in belakanganya SBI (Bank Indonesia Certificate) and the last in stock.
Now, if funds are withdrawn at the same heat (and it certainly happens), then the financial world of this country certainly broke down. Not only the financial sector and capital markets that would hit hard, the real sector would be affected due to the weakening rupiah. BSF will not be able to stabilize the situation like that, said the banker.
That is why, governments are advised to imitate the steps Brazil and Thailand who impose taxes on the funds coming from abroad. Rules that will be more complete if the deadline acquisition of securities in Indonesia (especially SUN and SBI) extended.
Nothing to be ashamed to imitate. Moreover, the hot money was almost pointless for us. Only adding to the burden alone, he said. He estimates that hot funds that will go home cages next year in line with the improving U.S. economy and Europe.
Wednesday, November 10, 2010
State Bank of India Wants a Second Indonesian Bank
India’s top lender, State Bank of India, is looking to acquire a bank in Indonesia, and has set aside more than $100 million for the purchase, the Financial Express reported on Monday, citing a senior company executive.
“We have short-listed the names of two or three banks and will zero in on one of them soon.
The bank has a budget of over $100 million for buying a bank in Indonesia,” said Pratip Chaudhuri, deputy managing director at SBI.
Officials at the bank were not immediately available to comment on the story.
SBI’s acquisition plan would be its second purchase of an Indonesian bank after it bought a stake in Bank Indomonex four years ago. It converted the bank into Bank SBI Indonesia.
SBI Indonesia has several branches in Jakarta, Bandung, Surabaya and Medan, according to its Web site.
Indonesia’s accelerating economy, which grew 5.8 percent in the third quarter of this year from a year earlier, is forecast to expand by 6 percent this year and 6.2 percent next year, according to data from the government.
The growth is thanks to a boom in consumer spending and a higher lending growth target, which is forecast to increase by 22 percent this year, Bank Indonesia, the country’s central bank, has said.
There are 121 commercial banks currently operating in Indonesia. Bankers and analysts want the number reduced to make supervision more efficient.
Indonesia’s central bank has encouraged banks in Southeast Asia’s largest economy to merge in order to improve efficiency after it spent more than Rp 450 trillion ($50.4 billion) to bail out lenders during the 1998 Asian financial crisis.
Joni Swastanto, the director of banking supervision at Bank Indonesia, was not available for comment on this story.
Malaysia combined its 54 banks into 10 and Thailand cut the number of financial service companies to 12 from 16 several years ago.
“We have short-listed the names of two or three banks and will zero in on one of them soon.
The bank has a budget of over $100 million for buying a bank in Indonesia,” said Pratip Chaudhuri, deputy managing director at SBI.
Officials at the bank were not immediately available to comment on the story.
SBI’s acquisition plan would be its second purchase of an Indonesian bank after it bought a stake in Bank Indomonex four years ago. It converted the bank into Bank SBI Indonesia.
SBI Indonesia has several branches in Jakarta, Bandung, Surabaya and Medan, according to its Web site.
Indonesia’s accelerating economy, which grew 5.8 percent in the third quarter of this year from a year earlier, is forecast to expand by 6 percent this year and 6.2 percent next year, according to data from the government.
The growth is thanks to a boom in consumer spending and a higher lending growth target, which is forecast to increase by 22 percent this year, Bank Indonesia, the country’s central bank, has said.
There are 121 commercial banks currently operating in Indonesia. Bankers and analysts want the number reduced to make supervision more efficient.
Indonesia’s central bank has encouraged banks in Southeast Asia’s largest economy to merge in order to improve efficiency after it spent more than Rp 450 trillion ($50.4 billion) to bail out lenders during the 1998 Asian financial crisis.
Joni Swastanto, the director of banking supervision at Bank Indonesia, was not available for comment on this story.
Malaysia combined its 54 banks into 10 and Thailand cut the number of financial service companies to 12 from 16 several years ago.
Indonesian Fantasy Film Festival Getting a Sci-Fi Feel
The annual Indonesia International Fantastic Film Festival is back for the fourth time. Following in the footsteps of genre-specific film festivals in Spain, Brussels and Pusan, the festival brings the hottest international releases in horror, thriller, fantasy, science fiction and anime. It is also the only film festival of its kind in Southeast Asia.
There will be 27 feature films this year, in addition to eight Indonesian short films, which will be played at random before the start of the main feature. The festival, known as INAFFF, will be on Nov. 16-21 at the Grand Indonesia Blitz Megaplex in Jakarta, and on Nov. 26-28 at the Paris van Java Blitz Megaplex in Bandung.
Because the festival was previously named Screamfest, festival director Rusli Eddy said that people may get the notion that INAFFF is only about horror. “INAFFF is a fantasy film festival,” Rusly said. “For the past two years, fans of anime have started to come and give color to the festival.” The committee is trying to balance horror films with other genres to attract more filmgoers.
In Jakarta, the festival will kick off with a British science fiction film, “Monsters,” about a failed NASA mission to prove the possibility of alien life in the solar system. Directed by Gareth Edwards, “Monsters” was chosen to open the festival because of its positive critical reviews. According to Rusli, it’s a good example of how a low-budget film has managed to steal the show.
“When it was first shown at Cannes, screenings were always sold out, despite the fact that it’s a low-budget film with home-made special effects,” he said.
INAFFF will also have a variety of Scandinavian films. One is Norway’s horror thriller, “Detour,” inspired by true events in the Swedish forest, and Switzerland’s “Cargo,” a horror/science-fiction film about a weird sound in the cargo of a space station in 2237.
“For the past four years, Scandinavians have produced surprisingly good films in the fantasy genre,” Rusli said.
Torsten Hvas, the scriptwriter for Iceland’s “Reykjavik Whale Watching Massacre,” is coming to Indonesia to attend the question-and-answer session after the screening of the film, which is scheduled to play on Nov. 20, at 3 p.m.
The hottest tickets may well be the second and third film adaptations of the popular Millennium Trilogy by Swedish author Stieg Larsson: “The Girl Who Played With Fire” and “The Girl Who Kicked the Hornet’s Nest.” The latter will close the festival in Jakarta, which means that tickets will be hard to come by because half of the studio has been reserved for those with invitations. The first of the trilogy, “The Girl With the Dragon Tattoo,” is already showing at Blitz Megaplex.
Another film to be screened is “Corridor,” which is a mystery/thriller about a cat-and-mouse game between neighbors in an apartment building, and “Psalm 21,” a horror/thriller about a young priest in Stockholm.
Ever since INAFFF started selling tickets last week, the first film to be 90 percent sold out is Thailand’s “Surprise Movie.” According to Rusli, this is because the public thinks that Thais produce the best horror films.
Japan, on the other hand, seems to have a reputation for science fiction. The festival will screen anime adaptation “Time Traveller: The Girl Who Leapt Through Time,” and “Redline,” Japan’s anime science fiction about a destructive car race. And if you want to laugh, there’s “Alien vs. Ninja.”
Unfortunately for Indonesian filmmakers, there was no spot given to them this year. At last week’s press conference, Rusli, along with film producer Sheila Timothy, directors the Mo Brothers and critic Ekky Imanjaya, shared their concerns about the local film industry in 2010, especially for what they refer to as “fantastic” films. They also held a workshop and a short film competition for young filmmakers in Indonesia, especially for films of this genre.
According to Sheila, horror is a strong genre in the Asia Pacific. Japan and Korea have released popular horror films, such as “The Ring” trilogy and “Ju On.” But she also pointed out that the number of viewers for local films is decreasing.
“We have plenty of Indonesian horror films, but since they’re not well-executed, they don’t attract more than a million viewers,” Sheila said.
Timo, from the Mo Brothers, added that horror is a part of Indonesian culture. “Horror is easy to develop in Indonesia, so it would be a pity if we’re stuck with films about pocong [white-shrouded corpses], virgins and kuntilanak [female ghosts] — I am honestly sick of such movies,” he said.
Rusli said INAFFF aims to also give a boost to good local horror films. “Badly produced horror films are a hidden danger. There was not a single Indonesian movie that reached box office success this year, which may hinder film directors in finding investors and create good movies,” he said.
There will be 27 feature films this year, in addition to eight Indonesian short films, which will be played at random before the start of the main feature. The festival, known as INAFFF, will be on Nov. 16-21 at the Grand Indonesia Blitz Megaplex in Jakarta, and on Nov. 26-28 at the Paris van Java Blitz Megaplex in Bandung.
Because the festival was previously named Screamfest, festival director Rusli Eddy said that people may get the notion that INAFFF is only about horror. “INAFFF is a fantasy film festival,” Rusly said. “For the past two years, fans of anime have started to come and give color to the festival.” The committee is trying to balance horror films with other genres to attract more filmgoers.
In Jakarta, the festival will kick off with a British science fiction film, “Monsters,” about a failed NASA mission to prove the possibility of alien life in the solar system. Directed by Gareth Edwards, “Monsters” was chosen to open the festival because of its positive critical reviews. According to Rusli, it’s a good example of how a low-budget film has managed to steal the show.
“When it was first shown at Cannes, screenings were always sold out, despite the fact that it’s a low-budget film with home-made special effects,” he said.
INAFFF will also have a variety of Scandinavian films. One is Norway’s horror thriller, “Detour,” inspired by true events in the Swedish forest, and Switzerland’s “Cargo,” a horror/science-fiction film about a weird sound in the cargo of a space station in 2237.
“For the past four years, Scandinavians have produced surprisingly good films in the fantasy genre,” Rusli said.
Torsten Hvas, the scriptwriter for Iceland’s “Reykjavik Whale Watching Massacre,” is coming to Indonesia to attend the question-and-answer session after the screening of the film, which is scheduled to play on Nov. 20, at 3 p.m.
The hottest tickets may well be the second and third film adaptations of the popular Millennium Trilogy by Swedish author Stieg Larsson: “The Girl Who Played With Fire” and “The Girl Who Kicked the Hornet’s Nest.” The latter will close the festival in Jakarta, which means that tickets will be hard to come by because half of the studio has been reserved for those with invitations. The first of the trilogy, “The Girl With the Dragon Tattoo,” is already showing at Blitz Megaplex.
Another film to be screened is “Corridor,” which is a mystery/thriller about a cat-and-mouse game between neighbors in an apartment building, and “Psalm 21,” a horror/thriller about a young priest in Stockholm.
Ever since INAFFF started selling tickets last week, the first film to be 90 percent sold out is Thailand’s “Surprise Movie.” According to Rusli, this is because the public thinks that Thais produce the best horror films.
Japan, on the other hand, seems to have a reputation for science fiction. The festival will screen anime adaptation “Time Traveller: The Girl Who Leapt Through Time,” and “Redline,” Japan’s anime science fiction about a destructive car race. And if you want to laugh, there’s “Alien vs. Ninja.”
Unfortunately for Indonesian filmmakers, there was no spot given to them this year. At last week’s press conference, Rusli, along with film producer Sheila Timothy, directors the Mo Brothers and critic Ekky Imanjaya, shared their concerns about the local film industry in 2010, especially for what they refer to as “fantastic” films. They also held a workshop and a short film competition for young filmmakers in Indonesia, especially for films of this genre.
According to Sheila, horror is a strong genre in the Asia Pacific. Japan and Korea have released popular horror films, such as “The Ring” trilogy and “Ju On.” But she also pointed out that the number of viewers for local films is decreasing.
“We have plenty of Indonesian horror films, but since they’re not well-executed, they don’t attract more than a million viewers,” Sheila said.
Timo, from the Mo Brothers, added that horror is a part of Indonesian culture. “Horror is easy to develop in Indonesia, so it would be a pity if we’re stuck with films about pocong [white-shrouded corpses], virgins and kuntilanak [female ghosts] — I am honestly sick of such movies,” he said.
Rusli said INAFFF aims to also give a boost to good local horror films. “Badly produced horror films are a hidden danger. There was not a single Indonesian movie that reached box office success this year, which may hinder film directors in finding investors and create good movies,” he said.
Hatta Hopes Obama Visit Spurs American Investment in Renewable Energy
Indonesia’s top economic minister said he hoped US President Barack Obama’s visit would encourage investment in renewable energy and heavy machinery, noting that US investment this year through September outside of oil and gas had jumped to $871 million.
“We want a technology transfer and hope there is investment in renewable energy management,” Hatta Rajasa, coordinating minister for the economy, said on Tuesday just before the US president landed for his two-day trip.
“We also hope the US will invest in our railway sector, which is clearly behind.
“Companies such as General Electric or Caterpillar could open a locomotive factory here.”
Hatta said US investment in Indonesia had been increasing over the past few years.
The value of US investments, excluding oil and gas, had reached $157 million in 2008, rising to $171 million last year before making a big jump in 2010 as foreign investors capitalized on strong economic growth here.
“Investment [from the US] increased rapidly outside the oil and gas,” Hatta said, without elaborating on which sectors were the top recipients.
Trade Minister MS Hidayat projected that US non-oil and gas investment in Indonesia would hit a record high of $1 billion in the next few years, and he said the government would encourage US companies to invest more in heavy machinery.
Caterpillar, which already has a factory here making mining equipment, plans to invest $500 million in Indonesia next year, he said.
Analysts said that building a stronger relationship with Indonesia would help the United States handle a rising China.
US officials say Obama’s stop in Indonesia underscores his goal of boosting exports to create jobs.
Enlarging overseas markets for US companies is a central theme of Obama’s four-country tour of Asia that began in India on Saturday.
Hatta said the United States was an important export destination for Indonesia, and there were opportunities that could be developed for the benefit of both nations.
“In trading volume and destination of our exports, the US was ranked second and always gives a trade surplus to Indonesia.”
He expects the balance of trade between Indonesia and the United States to recover this year to $21 billion, the same level as 2008, after falling to $18 billion of two-way trade last year.
He said Indonesia’s trade surplus with the United States was expected at $5 billion this year.
“We want a technology transfer and hope there is investment in renewable energy management,” Hatta Rajasa, coordinating minister for the economy, said on Tuesday just before the US president landed for his two-day trip.
“We also hope the US will invest in our railway sector, which is clearly behind.
“Companies such as General Electric or Caterpillar could open a locomotive factory here.”
Hatta said US investment in Indonesia had been increasing over the past few years.
The value of US investments, excluding oil and gas, had reached $157 million in 2008, rising to $171 million last year before making a big jump in 2010 as foreign investors capitalized on strong economic growth here.
“Investment [from the US] increased rapidly outside the oil and gas,” Hatta said, without elaborating on which sectors were the top recipients.
Trade Minister MS Hidayat projected that US non-oil and gas investment in Indonesia would hit a record high of $1 billion in the next few years, and he said the government would encourage US companies to invest more in heavy machinery.
Caterpillar, which already has a factory here making mining equipment, plans to invest $500 million in Indonesia next year, he said.
Analysts said that building a stronger relationship with Indonesia would help the United States handle a rising China.
US officials say Obama’s stop in Indonesia underscores his goal of boosting exports to create jobs.
Enlarging overseas markets for US companies is a central theme of Obama’s four-country tour of Asia that began in India on Saturday.
Hatta said the United States was an important export destination for Indonesia, and there were opportunities that could be developed for the benefit of both nations.
“In trading volume and destination of our exports, the US was ranked second and always gives a trade surplus to Indonesia.”
He expects the balance of trade between Indonesia and the United States to recover this year to $21 billion, the same level as 2008, after falling to $18 billion of two-way trade last year.
He said Indonesia’s trade surplus with the United States was expected at $5 billion this year.
Court Told Bashir Wanted an Attack During Obama's Indonesia Visit
Radical cleric Abu Bakar Bashir apparently urged his followers earlier this year to stage a terror attack while US President Barack Obama was on Indonesian soil, a Jakarta court was told on Tuesday, just hours before Obama’s arrival here.
The apparent threat was revealed during the opening session of Dr. Syarif Usman’s trial on charges related to financing an alleged terrorist training camp uncovered earlier this year in Aceh.
Prosecutors say Syarif is close to Bashir, who is in jail on charges related to the Aceh camp.
Prosecutors told the South Jakarta District Court that Bashir told another suspect, Luthfi Haidaro, aka Ubaid, “to take advantage of the visit by US President Barack Obama to Indonesia.”
“But there was no further discussion on how to move forward,” prosecutor Kiki Ahmad Yani said.
Bashir’s alleged instruction to Ubaid was given in a meeting in January, two months before Obama’s first scheduled visit in March.
That trip was cancelled.
In February, police began dismantling the Aceh camp, believed to have been training militants to launch attacks similar to the one in Mumbai, India, in 2008.
In an exclusive interview with the Jakarta Globe before Obama’s planned March visit, Bashir urged Indonesians to protest. “America is a great infidel because it is fighting Islam,” he said at the time.
The United States and Indonesia have long cooperated to fight terrorism, and US defense officials have lauded Indonesia’s ability to pursue extremists.
The US has provided money for helicopters, radar systems and small boats to help build an interdiction force.
US officials have said that the presence of the Aceh camp was a dangerous sign that militant are trying to refine their tactics, perhaps with Al Qaeda backing.
Earlier proposed visits to the region by Obama triggered threats of a terrorist attack.
US officials said they believe the threats were for an attack on Western interests, but were not necessarily aimed directly at the president.
Tuesday’s trial focused on charges that Syarif gave Rp 200 million ($22,400) to Jamaah Ansharut Tauhid, a hard-line group founded by Bashir that security officials link to the Aceh camp.
“The money was intended to buy weapons for paramilitary training,” a prosecutor told the court.
“The goals of the paramilitary training in Aceh were to uphold Islamic Law and terrorize foreigners, international non-governmental organizations and other foreign interests in Aceh,” according to the indictment.
The apparent threat was revealed during the opening session of Dr. Syarif Usman’s trial on charges related to financing an alleged terrorist training camp uncovered earlier this year in Aceh.
Prosecutors say Syarif is close to Bashir, who is in jail on charges related to the Aceh camp.
Prosecutors told the South Jakarta District Court that Bashir told another suspect, Luthfi Haidaro, aka Ubaid, “to take advantage of the visit by US President Barack Obama to Indonesia.”
“But there was no further discussion on how to move forward,” prosecutor Kiki Ahmad Yani said.
Bashir’s alleged instruction to Ubaid was given in a meeting in January, two months before Obama’s first scheduled visit in March.
That trip was cancelled.
In February, police began dismantling the Aceh camp, believed to have been training militants to launch attacks similar to the one in Mumbai, India, in 2008.
In an exclusive interview with the Jakarta Globe before Obama’s planned March visit, Bashir urged Indonesians to protest. “America is a great infidel because it is fighting Islam,” he said at the time.
The United States and Indonesia have long cooperated to fight terrorism, and US defense officials have lauded Indonesia’s ability to pursue extremists.
The US has provided money for helicopters, radar systems and small boats to help build an interdiction force.
US officials have said that the presence of the Aceh camp was a dangerous sign that militant are trying to refine their tactics, perhaps with Al Qaeda backing.
Earlier proposed visits to the region by Obama triggered threats of a terrorist attack.
US officials said they believe the threats were for an attack on Western interests, but were not necessarily aimed directly at the president.
Tuesday’s trial focused on charges that Syarif gave Rp 200 million ($22,400) to Jamaah Ansharut Tauhid, a hard-line group founded by Bashir that security officials link to the Aceh camp.
“The money was intended to buy weapons for paramilitary training,” a prosecutor told the court.
“The goals of the paramilitary training in Aceh were to uphold Islamic Law and terrorize foreigners, international non-governmental organizations and other foreign interests in Aceh,” according to the indictment.
Hopeful Menteng Students Ready, Though Obama Not Likely to Visit
It is nowhere on Barack Obama’s itinerary, but the students and faculty of SDN Menteng 1 elementary school have not given up hope that he would find time to drop by his old school.
Students were preparing, even if in small ways, for the possibility he could squeeze in a visit to the school he attended for two years as a small boy.
“I haven’t said anything [about a possible visit] to the students, because if it’s canceled again I bear the responsibility of telling them, and it’s not easy to cancel something to a kid,” Hasimah, the principal of the school, told the Jakarta Globe.
“But maybe the president will think about the school after visiting Istiqlal [Mosque] because it’s nearby, and decide to make a short stop here. We would welcome him like other state guests,” she said.
Though no special preparations had been made, Hasimah said the students had practiced dancing and singing often enough for an impromptu performance if needed.
In March, preparations had been made for a visit by Obama to the school, with a US Embassy team conducting early inspections. “It was almost certain at the time, but then it was canceled,” Hasimah said.
“With this one, we haven’t heard or been informed of anything. That’s why I didn't say anything to the children. They might hear something from the media, but not me. The teachers even made their own batik uniforms called Obama Batik.”
Shadam Sambega Raditya, 7, who had hoped to talk with Obama, said that he was disappointed the US president would not visit. “He lied,” he said.
Shadam’s mother, Erly Indriani, said her son was very excited by the prospect of a visit. “I never told him anything though, I don’t want him to be disappointed,” Erly said.
Iin, a dance teacher, said that the two earlier cancellations had put a damper on expectations at the school.
“So after June, we didn’t tell the students anything. Children still go to dance classes, but for regular practice and not to welcome Obama,” she said.
Ilham Sugiantoro, 8, said he was not too disappointed because he had lived in the United States when Obama was elected president. Some of Obama’s childhood classmates did get invitations to hear him speak at University of Indonesia’s campus today, although it was unclear if they would get the chance to meet with him in person.
“So far, the only plan scheduled is to see his public speech,” Sonny Gondokusumo, Obama’s former classmate at the school, told the Globe.
Sonny said he and his friends had prepared a gift for “Barry” Obama: photographs of them together in elementary school.
“But we doubt if we will be able to get them in,” Sonny said. “We are not allowed to bring anything other than a cellphone and pocket camera.” Still, he said, “we are happy that Barry can finally make it to Indonesia, that’s all.”
Students were preparing, even if in small ways, for the possibility he could squeeze in a visit to the school he attended for two years as a small boy.
“I haven’t said anything [about a possible visit] to the students, because if it’s canceled again I bear the responsibility of telling them, and it’s not easy to cancel something to a kid,” Hasimah, the principal of the school, told the Jakarta Globe.
“But maybe the president will think about the school after visiting Istiqlal [Mosque] because it’s nearby, and decide to make a short stop here. We would welcome him like other state guests,” she said.
Though no special preparations had been made, Hasimah said the students had practiced dancing and singing often enough for an impromptu performance if needed.
In March, preparations had been made for a visit by Obama to the school, with a US Embassy team conducting early inspections. “It was almost certain at the time, but then it was canceled,” Hasimah said.
“With this one, we haven’t heard or been informed of anything. That’s why I didn't say anything to the children. They might hear something from the media, but not me. The teachers even made their own batik uniforms called Obama Batik.”
Shadam Sambega Raditya, 7, who had hoped to talk with Obama, said that he was disappointed the US president would not visit. “He lied,” he said.
Shadam’s mother, Erly Indriani, said her son was very excited by the prospect of a visit. “I never told him anything though, I don’t want him to be disappointed,” Erly said.
Iin, a dance teacher, said that the two earlier cancellations had put a damper on expectations at the school.
“So after June, we didn’t tell the students anything. Children still go to dance classes, but for regular practice and not to welcome Obama,” she said.
Ilham Sugiantoro, 8, said he was not too disappointed because he had lived in the United States when Obama was elected president. Some of Obama’s childhood classmates did get invitations to hear him speak at University of Indonesia’s campus today, although it was unclear if they would get the chance to meet with him in person.
“So far, the only plan scheduled is to see his public speech,” Sonny Gondokusumo, Obama’s former classmate at the school, told the Globe.
Sonny said he and his friends had prepared a gift for “Barry” Obama: photographs of them together in elementary school.
“But we doubt if we will be able to get them in,” Sonny said. “We are not allowed to bring anything other than a cellphone and pocket camera.” Still, he said, “we are happy that Barry can finally make it to Indonesia, that’s all.”
Cheering, Bakso and Friendship — An Indonesian Welcome Home for Obama
He’s famous for his coolness and dignified bearing, but on a showery Tuesday afternoon, US President Barack Obama touched down in Jakarta for the first time since his childhood to a welcome fit for a rock star.
His trip was twice postponed and threatened this time by Mount Merapi’s eruptions, but long-time Jakarta residents could not recall another foreign leader arriving to such fanfare.
Throngs of office workers braved city streets in the rain or peered from high-rise office blocks for a glimpse of Obama’s motorcade as it sped down an empty toll road and onto Jalan Sudirman en route to the Presidential Palace.
Magazine editor Ratna Dewi joined the crowd outside her office to catch a fleeting glimpse of Obama in Cadillac One, the US president’s virtually impregnable armor-plated limousine.
“Obama’s different from other leaders,” Ratna said. “He’s charismatic, he appeals to young people — and he’s one good-looking man!”
Countless others gathered around television screens as Air Force One touched down at Halim Perdanakusuma Airport after a flight from India, their screams echoing through hallways and living rooms as the American leader and the first lady, Michelle Obama, descended to the tarmac to be greeted by an honor guard of officials and soldiers.
Although he is beset by political troubles back home, the reception left little doubt that Obama remains a star in the city he called home between 1967 and 1971.
For his part, the former Menteng resident said he barely recognized the city.
“As I was driving down the streets, the only building that was there when I first moved to Jakarta was Sarinah,” he said at a joint press conference with President Susilo Bambang Yudhoyono.
“Now it’s one of the shorter buildings on the road.”
“When you visit a place that you spent time in as a child, as a president it’s a little bit disorienting.”
At the glittering state dinner that followed at Istana Negara — a place that, as a child from “Menteng dalam,” he said he never imagined he would one day enter — Obama thanked his hosts for the “bakso, nasi goreng, emping, krupuk.”
“Semuanya enak,” he said, praising the food to a crowd that included former President Megawati Sukarnoputri, who made her first visit to the palace since she left office in 2004 after a falling-out with Yudhoyono.
During the dinner, Yudhoyono conferred the Bintang Jasa Utama, the nation’s highest civilian honor, on Obama’s late mother, Ann Dunham Soetoro, for her work with NGOs in Indonesia.
“In honoring her you honor the spirit that led her to travel to various parts of the country,” Obama said. “I am deeply moved.”
But Obama emphasized that his visit was more than nostalgia.
“I’m here to focus not on the past, but on the future,” he said.
At the palace, Obama and Yudhoyono formally launched the Comprehensive Partnership Agreement, which is designed to enhance investment and trade between the two countries.
“Indonesia is one of the growing markets that we’re going to focus on as part of my initiative to double US exports,” Obama said.
Yudhoyono said the US was Indonesia’s third-largest trading partner, with trade valued at $21 billion in 2008.
But Obama wanted more. “We don’t like No. 3, we want to be No. 1,” he said.
Obama also stressed the importance of cooperation “in science and technology” to fuel growth and entrepreneurship. Yudhoyono called for enhanced cooperation on global environmental challenges.
Obama vowed to double education partnerships in the next five years, and to support Indonesia’s lead in tackling climate change.
He also praised Indonesia’s successful transition from a dictatorship to a democracy, and the work of civil society groups in fighting corruption and promoting human rights.
Obama also noted the existing partnership between Washington and Jakarta to combat terrorism and maritime piracy.
And as the visit comes in the wake of twin natural disasters that have rocked the country, Obama said he hoped his presence showed that “in good times and bad times the United States stands as a friend to Indonesia.”
The visit is also widely seen as a further attempt by Obama to reach out to the Islamic world.
“We don’t expect that we are going to completely eliminate some of the misunderstandings, mistrust developed over a long period of time, but we do think that we’re on the right path,” he said.
He reserved his harshest words for Israeli settlements in the West Bank, saying Israel’s decision to approve 1,000 new housing units in East Jerusalem sent the wrong signal.
“This kind of activity is never helpful when it comes to peace negotiations, and I’m concerned that we’re not seeing each side make the extra effort involved to get a breakthrough,” Obama said.
“Each of these incremental steps end up breaking trust.”
Obama is scheduled to make a major speech at University of Indonesia this morning, which is expected to help build warmer relations with the Muslim world.
There have been reports that Mount Merapi’s eruptions could cause him to leave before his scheduled afternoon departure for the G-20 summit in Seoul.
His trip was twice postponed and threatened this time by Mount Merapi’s eruptions, but long-time Jakarta residents could not recall another foreign leader arriving to such fanfare.
Throngs of office workers braved city streets in the rain or peered from high-rise office blocks for a glimpse of Obama’s motorcade as it sped down an empty toll road and onto Jalan Sudirman en route to the Presidential Palace.
Magazine editor Ratna Dewi joined the crowd outside her office to catch a fleeting glimpse of Obama in Cadillac One, the US president’s virtually impregnable armor-plated limousine.
“Obama’s different from other leaders,” Ratna said. “He’s charismatic, he appeals to young people — and he’s one good-looking man!”
Countless others gathered around television screens as Air Force One touched down at Halim Perdanakusuma Airport after a flight from India, their screams echoing through hallways and living rooms as the American leader and the first lady, Michelle Obama, descended to the tarmac to be greeted by an honor guard of officials and soldiers.
Although he is beset by political troubles back home, the reception left little doubt that Obama remains a star in the city he called home between 1967 and 1971.
For his part, the former Menteng resident said he barely recognized the city.
“As I was driving down the streets, the only building that was there when I first moved to Jakarta was Sarinah,” he said at a joint press conference with President Susilo Bambang Yudhoyono.
“Now it’s one of the shorter buildings on the road.”
“When you visit a place that you spent time in as a child, as a president it’s a little bit disorienting.”
At the glittering state dinner that followed at Istana Negara — a place that, as a child from “Menteng dalam,” he said he never imagined he would one day enter — Obama thanked his hosts for the “bakso, nasi goreng, emping, krupuk.”
“Semuanya enak,” he said, praising the food to a crowd that included former President Megawati Sukarnoputri, who made her first visit to the palace since she left office in 2004 after a falling-out with Yudhoyono.
During the dinner, Yudhoyono conferred the Bintang Jasa Utama, the nation’s highest civilian honor, on Obama’s late mother, Ann Dunham Soetoro, for her work with NGOs in Indonesia.
“In honoring her you honor the spirit that led her to travel to various parts of the country,” Obama said. “I am deeply moved.”
But Obama emphasized that his visit was more than nostalgia.
“I’m here to focus not on the past, but on the future,” he said.
At the palace, Obama and Yudhoyono formally launched the Comprehensive Partnership Agreement, which is designed to enhance investment and trade between the two countries.
“Indonesia is one of the growing markets that we’re going to focus on as part of my initiative to double US exports,” Obama said.
Yudhoyono said the US was Indonesia’s third-largest trading partner, with trade valued at $21 billion in 2008.
But Obama wanted more. “We don’t like No. 3, we want to be No. 1,” he said.
Obama also stressed the importance of cooperation “in science and technology” to fuel growth and entrepreneurship. Yudhoyono called for enhanced cooperation on global environmental challenges.
Obama vowed to double education partnerships in the next five years, and to support Indonesia’s lead in tackling climate change.
He also praised Indonesia’s successful transition from a dictatorship to a democracy, and the work of civil society groups in fighting corruption and promoting human rights.
Obama also noted the existing partnership between Washington and Jakarta to combat terrorism and maritime piracy.
And as the visit comes in the wake of twin natural disasters that have rocked the country, Obama said he hoped his presence showed that “in good times and bad times the United States stands as a friend to Indonesia.”
The visit is also widely seen as a further attempt by Obama to reach out to the Islamic world.
“We don’t expect that we are going to completely eliminate some of the misunderstandings, mistrust developed over a long period of time, but we do think that we’re on the right path,” he said.
He reserved his harshest words for Israeli settlements in the West Bank, saying Israel’s decision to approve 1,000 new housing units in East Jerusalem sent the wrong signal.
“This kind of activity is never helpful when it comes to peace negotiations, and I’m concerned that we’re not seeing each side make the extra effort involved to get a breakthrough,” Obama said.
“Each of these incremental steps end up breaking trust.”
Obama is scheduled to make a major speech at University of Indonesia this morning, which is expected to help build warmer relations with the Muslim world.
There have been reports that Mount Merapi’s eruptions could cause him to leave before his scheduled afternoon departure for the G-20 summit in Seoul.
Monday, November 8, 2010
Prambanan temple open despite Merapi eruptions
Amid a series of rain of volcanic ashes from the erupting Mount Merapi in Yogyakarta, the management of Prambanan temple kept the archeological site open to public despite the dwindling number of visitors over the past week.
Priyo Santoso, an official with PT Taman Wisata Candi Borobudur, Prambanan & Ratu Boko, said temple workers had to clean up volcanic ashes which covered the temple structure every time the shower of ashes ended using dozens of vacuum cleaners.
The number of visitors has declined since Merapi's erupted for the first time on Oct. 26.
"On regular days, the temple could attract up to 2,000 people, but since last week, there were no more than 500 people visiting the place in one day," he said.
Built in the 8th century, the Hindu temple is located in the border of Sleman regency of Yogyakarta province and Klaten regency of Central Java.
Previously the Central Java authorities decided to close down Borobudur temple in Muntilan, Magelang, after heavy rain of ashes poured the area and leaving a thick ash layer in the world’s largest Buddhist temple.
Priyo Santoso, an official with PT Taman Wisata Candi Borobudur, Prambanan & Ratu Boko, said temple workers had to clean up volcanic ashes which covered the temple structure every time the shower of ashes ended using dozens of vacuum cleaners.
The number of visitors has declined since Merapi's erupted for the first time on Oct. 26.
"On regular days, the temple could attract up to 2,000 people, but since last week, there were no more than 500 people visiting the place in one day," he said.
Built in the 8th century, the Hindu temple is located in the border of Sleman regency of Yogyakarta province and Klaten regency of Central Java.
Previously the Central Java authorities decided to close down Borobudur temple in Muntilan, Magelang, after heavy rain of ashes poured the area and leaving a thick ash layer in the world’s largest Buddhist temple.
Lava from Mount Merapi's latest eruption destroys two hamlets
Two hamlets at Mount Merapi slopes have been destroyed by lava sparked from a major eruption which took place at the world’s most active mount on early Friday.
One of the destroyed hamlets was Brogangsuruh at Argomulyo village, Cangkringan district in Sleman regency, and the other was Slodokan at Wukirsari village also in the same district.
One of the destroyed hamlets was Brogangsuruh at Argomulyo village, Cangkringan district in Sleman regency, and the other was Slodokan at Wukirsari village also in the same district.
Tour d’Indonesia skips stage over volcanic eruption
The Speedy Tour d’Indonesia 2010 cycling competition has decided to skip its planned fifth stage, from Semarang to Yogyakarta, due to the eruption of Mount Merapi, near Yogyakarta.
Tour chief commissionaire Jose Adolfo Cruz said Wednesday the eruption had made conditions too hazardous for the cyclists, Kompas.com reported.
A cyclist from Yogyakarta, Nugroho Krisnanto, said he was disappointed the stage had been canceled. “But it's OK because the conditions won’t allow us to race,” he added.
Tour chief commissionaire Jose Adolfo Cruz said Wednesday the eruption had made conditions too hazardous for the cyclists, Kompas.com reported.
A cyclist from Yogyakarta, Nugroho Krisnanto, said he was disappointed the stage had been canceled. “But it's OK because the conditions won’t allow us to race,” he added.
Students reject Obama’s visit
Around 100 members of the Liberation Student Movement marched from Al Markaz Al Islami to a fly over in the South Sulawesi capital of Makassar on Friday to express their opposition to a planned visit of US President Barack Obama to Indonesia next week.
The students displayed banners and pamphlets denouncing the US president, who they said would use his Indonesian trip to polish his international image amid alleged war crimes involving the US in Afghanistan, Iraq and other Muslim countries across the world. Some students set fire to Obama’s picture during the march.
They also accused Obama of attempting to perpetuate American imperialism through bilateral cooperation with Indonesia.
The students displayed banners and pamphlets denouncing the US president, who they said would use his Indonesian trip to polish his international image amid alleged war crimes involving the US in Afghanistan, Iraq and other Muslim countries across the world. Some students set fire to Obama’s picture during the march.
They also accused Obama of attempting to perpetuate American imperialism through bilateral cooperation with Indonesia.
RI on track to get investment grade
Indonesia’s debt is well on track to achieve an investment grade in line with the continued improvement of the country’s economic fundamentals, a senior Bank Indonesia official has said.
Perry Warjiyo, the central bank’s director of monetary policy research, said the world’s major
rating agencies had continued to positively rate Indonesia’s economic performance.
Perry said that based on the statements made by several rating agencies during a recent meeting, “we are optimistic that we will get the rating upgrade to investment grade next year”.
He added that in the meetings, the central bank convinced the agencies that the country’s macroeconomy was stable and that the debt-to-GDP (growth domestic product) ratio was lowering.
In the 2011 state budget recently approved by the House of Representatives, the debt ratio against the GDP was set at 26 percent, or lower than this year’s 27.4 percent.
In 2009, the ratio stood at 30 percent and it reached 54 percent in 2004.
Indonesia’s economy has grown in the 4-6 percent range in recent years and is expected to expand by 6.3 percent in 2011.
The government has also forecast the economy to grow up to 7.7 percent by the end of President
Susilo Bambang Yudhoyono’s tenure in 2014.
The world’s three major rating agencies — Moody’s Investors Services, Standard & Poor’s (S&P) and Fitch Ratings — have upgraded Indonesia’s sovereign debt rating this year to one and two notches below investment grade.
Perry Warjiyo, the central bank’s director of monetary policy research, said the world’s major
rating agencies had continued to positively rate Indonesia’s economic performance.
Perry said that based on the statements made by several rating agencies during a recent meeting, “we are optimistic that we will get the rating upgrade to investment grade next year”.
He added that in the meetings, the central bank convinced the agencies that the country’s macroeconomy was stable and that the debt-to-GDP (growth domestic product) ratio was lowering.
In the 2011 state budget recently approved by the House of Representatives, the debt ratio against the GDP was set at 26 percent, or lower than this year’s 27.4 percent.
In 2009, the ratio stood at 30 percent and it reached 54 percent in 2004.
Indonesia’s economy has grown in the 4-6 percent range in recent years and is expected to expand by 6.3 percent in 2011.
The government has also forecast the economy to grow up to 7.7 percent by the end of President
Susilo Bambang Yudhoyono’s tenure in 2014.
The world’s three major rating agencies — Moody’s Investors Services, Standard & Poor’s (S&P) and Fitch Ratings — have upgraded Indonesia’s sovereign debt rating this year to one and two notches below investment grade.
BI borrows $3 billion to beef up rupiah
Bank Indonesia (BI) Governor Boediono said Friday that the central bank had cashed in U$3 billion in foreign loans to beef up the foreign exchange reserves, which as of Friday stood at $53.7 billion.
"The foreign exchange reserves have risen because the government cashed loans, and we use the cash to beef up the national foreign exchange reserves. Today, the foreign exchange reserves stand at $53.7 billion," the central bank chief said as quoted by Antara news agency.
Boediono said BI was at present in the process of completing a Bilateral Swap Arrangement (BSA) with Japan to strengthen the country's foreign exchange reserves.
"I think we are still trying to negotiate its articles. The agreement will be ready in the near future. It's just an administrative matter," he said.
The BSA is worth $12 billion, or up 100 percent from the previous one which was only US$6 billion.
In the future, Indonesia's foreign exchange reserves would also get support from disbursements of stand-by loans the government has obtained worth $5.5 billion.
BI was currently waiting for the schedule for the stand-by loan disbursements.
Boediono said the foreign exchange reserves were adequate to support the rupiah's stability and meet the need for the US greenback domestically.
"The stand-by loan and the BSA swap that we are getting, I think they are enough," he said.
The rupiah on Friday morning traded at Rp12,140/12,165 per US dollar, down 20 points from RP12,120/12,130 in the market's close a day earlier.
However, the local currency on Friday noon rose Rp70 points to Rp12,030 from Rp12,100 in the market's close on the previous day.
"The foreign exchange reserves have risen because the government cashed loans, and we use the cash to beef up the national foreign exchange reserves. Today, the foreign exchange reserves stand at $53.7 billion," the central bank chief said as quoted by Antara news agency.
Boediono said BI was at present in the process of completing a Bilateral Swap Arrangement (BSA) with Japan to strengthen the country's foreign exchange reserves.
"I think we are still trying to negotiate its articles. The agreement will be ready in the near future. It's just an administrative matter," he said.
The BSA is worth $12 billion, or up 100 percent from the previous one which was only US$6 billion.
In the future, Indonesia's foreign exchange reserves would also get support from disbursements of stand-by loans the government has obtained worth $5.5 billion.
BI was currently waiting for the schedule for the stand-by loan disbursements.
Boediono said the foreign exchange reserves were adequate to support the rupiah's stability and meet the need for the US greenback domestically.
"The stand-by loan and the BSA swap that we are getting, I think they are enough," he said.
The rupiah on Friday morning traded at Rp12,140/12,165 per US dollar, down 20 points from RP12,120/12,130 in the market's close a day earlier.
However, the local currency on Friday noon rose Rp70 points to Rp12,030 from Rp12,100 in the market's close on the previous day.
Rupiah little changed on speculation
Indonesia’s rupiah was little changed Monday on speculation the central bank will intervene to limit gains in the currency that may hurt overseas sales.
The currency on Sept. 13 reached a one-month high of Rp 8,923 versus the greenback before Japan, the biggest buyer of Indonesian exports, two days later bought dollars to weaken the yen from a 15-year high. Bank Indonesia Governor Darmin Nasution said Sept. 17 any purchases of the US currency would aim to “prevent the rupiah’s fluctuations from becoming too big”.
“Bank Indonesia will come in to cap excessive gains in the rupiah to help exports,” said Joanna Tan, a regional economist at Forecast Singapore Pte. The central bank “doesn’t want too volatile movements in the currency. We will continue to see fund inflows into Indonesia as the economic fundamentals are strong.”
The rupiah traded at Rp 8,978 per dollar as of 3:50 p.m. Monday in Jakarta, from Rp 8,975 at the end of last week, according to data compiled by Bloomberg. The currency touched a three-year high of 8,905 on Aug. 3, less than a week after Bank Indonesia Deputy Governor Hartadi Sarwono said policy makers would continue to guard against excessive gains.
Overseas investors pumped US$536 million into Indonesian equities last week, boosting net purchases for the year to $2.2 billion and helping drive the Jakarta Composite index to a record. The measure fell 0.8 percent today.
Global funds increased holdings of the nation’s bonds by 64 percent in 2010 to Rp 176.9 trillion ($19.7 billion) as of Sept. 17, according to the finance ministry’s website. That helped the government’s benchmark bonds to extend last week’s gains, pushing yields to more than a one-month low.
The rate on the 11 percent security due in November 2020 fell one basis point to 7.87 percent Monday, according to midday prices provided by the Inter-Dealer Market Association.
Indonesia’s economy, Southeast Asia’s largest, may expand 6 percent this year, President Susilo Bambang Yudhoyono said Sept. 15. Growth slowed to 4.55 percent in 2009, from 6.1 percent the previous year, official figures show.
Elsewhere, Asian currencies rose, building on three weekly advances, on speculation global funds will boost their holdings of regional assets to profit from the world’s fastest economic growth.
The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-traded currencies excluding the yen, climbed to a two-year high.
The Philippine peso gained 0.3 percent to 44.055 per dollar and India’s rupee was up 0.4 percent at 45.65 as of 2:53 p.m. in Mumbai. China’s yuan climbed 0.1 percent to 6.7121 and reached 6.7085, its strongest since official and market exchange rates were unified at the end of 1993.
“Strong fundamentals in Asia attract foreign funds to the local stock markets,” said Eric Hsing, a debt trader at First Securities Inc. in Taipei.
“Asian currencies will continue to strengthen.”
Overseas investors have plowed more than $7.5 billion into equities in India, South Korea and Taiwan this month and the MSCI Asia Pacific Index of shares Monday reached its highest level since April. Asia’s developing economies will expand 9.2 percent in 2010, outpacing growth of 2.6 percent in advanced countries, the International Monetary Fund forecast in July.
The yuan strengthened on speculation China will yield to increased political pressure from the US, which is seeking faster appreciation in the currency
The currency on Sept. 13 reached a one-month high of Rp 8,923 versus the greenback before Japan, the biggest buyer of Indonesian exports, two days later bought dollars to weaken the yen from a 15-year high. Bank Indonesia Governor Darmin Nasution said Sept. 17 any purchases of the US currency would aim to “prevent the rupiah’s fluctuations from becoming too big”.
“Bank Indonesia will come in to cap excessive gains in the rupiah to help exports,” said Joanna Tan, a regional economist at Forecast Singapore Pte. The central bank “doesn’t want too volatile movements in the currency. We will continue to see fund inflows into Indonesia as the economic fundamentals are strong.”
The rupiah traded at Rp 8,978 per dollar as of 3:50 p.m. Monday in Jakarta, from Rp 8,975 at the end of last week, according to data compiled by Bloomberg. The currency touched a three-year high of 8,905 on Aug. 3, less than a week after Bank Indonesia Deputy Governor Hartadi Sarwono said policy makers would continue to guard against excessive gains.
Overseas investors pumped US$536 million into Indonesian equities last week, boosting net purchases for the year to $2.2 billion and helping drive the Jakarta Composite index to a record. The measure fell 0.8 percent today.
Global funds increased holdings of the nation’s bonds by 64 percent in 2010 to Rp 176.9 trillion ($19.7 billion) as of Sept. 17, according to the finance ministry’s website. That helped the government’s benchmark bonds to extend last week’s gains, pushing yields to more than a one-month low.
The rate on the 11 percent security due in November 2020 fell one basis point to 7.87 percent Monday, according to midday prices provided by the Inter-Dealer Market Association.
Indonesia’s economy, Southeast Asia’s largest, may expand 6 percent this year, President Susilo Bambang Yudhoyono said Sept. 15. Growth slowed to 4.55 percent in 2009, from 6.1 percent the previous year, official figures show.
Elsewhere, Asian currencies rose, building on three weekly advances, on speculation global funds will boost their holdings of regional assets to profit from the world’s fastest economic growth.
The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-traded currencies excluding the yen, climbed to a two-year high.
The Philippine peso gained 0.3 percent to 44.055 per dollar and India’s rupee was up 0.4 percent at 45.65 as of 2:53 p.m. in Mumbai. China’s yuan climbed 0.1 percent to 6.7121 and reached 6.7085, its strongest since official and market exchange rates were unified at the end of 1993.
“Strong fundamentals in Asia attract foreign funds to the local stock markets,” said Eric Hsing, a debt trader at First Securities Inc. in Taipei.
“Asian currencies will continue to strengthen.”
Overseas investors have plowed more than $7.5 billion into equities in India, South Korea and Taiwan this month and the MSCI Asia Pacific Index of shares Monday reached its highest level since April. Asia’s developing economies will expand 9.2 percent in 2010, outpacing growth of 2.6 percent in advanced countries, the International Monetary Fund forecast in July.
The yuan strengthened on speculation China will yield to increased political pressure from the US, which is seeking faster appreciation in the currency
BI lauded for proposed measures to tackle inflows
Analysts have given the thumbs-up to Bank Indonesia (BI) for the measures prepared to tackle the projected increase in capital inflows following the latest US stimulus measures.
More foreign funds are expected to flow into Indonesia’s stock and debt market following the latest US moves as Indonesia remains one of the most attractive emerging markets that can offer higher returns on investments, analysts said.
As reported on Saturday, BI’s director of monetary policy research Perry Warjiyo said the central bank had prepared several measures to safeguard against potentially adverse effects
These measures, according to Perry, could include raising the minimum holding period for BI certificates (SBIs), extending the length of term deposits and raising foreign exchange minimum reserve requirements.
“The package is [ready]. But it will be applied depending on the impact of [US] quantitative easing on the capital flow and exchange rate,” Perry told reporters recently.
Martin Panggabean, an economist at Bank Mandiri, said BI’s early preparations of a basket of measures were a good sign that it was concerned about potential outflows, especially after the US announced that it planned to inject $600 billion into its economy.
The US Federal Reserve System recently announced that it would shore up US economic recovery through a round of quantitative easing, planning to buy US$600 billion in longer-term Treasury securities in phases until the middle of next year.
The move will increase the money supply to promote lending and liquidity and is expected to result in increased capital flows to emerging markets that offer higher returns, as near-zero interest rates have failed to boost economic growth in the world’s largest economy.
“More capital inflows in the short-term could potentially result in outflows for the longer-term,” Martin added.
Analysts agreed that BI’s prepared set of measures would help avoid the threat of a sudden reversal and would help reduce currency volatility that could result from incoming foreign funds.
According to BI, the rupiah has appreciated by about 5 percent so far this year, trading in the range of Rp 8,900 against the US dollar.
Analysts believed that BI had been guarding the rupiah from further appreciating by buying US dollars as the trend could hurt exports.
As a result, foreign exchange reserves have continually increased, and, according to BI, could reach $100 billion by the end of the year.
“But BI’s capacity is limited,” University of Indonesia (UI) economist Chatib Basri told The Jakarta Post in a telephone interview on Sunday.
If foreign reserves continue to increase, it will result in higher cost of funds, which will in turn force the central bank to tighten payment of foreign debts.
Chatib, who considered the central bank’s package as “an administrative” help, said the government and private sector could also help in order to help manage a potential flood of capital inflows.
“The most important things are, first, for companies to launch initial public offerings [IPOs] so they could help meet foreign demand.
“And the second, how to shift the funds in the financial market to infrastructure projects which are long-term in nature,” Chatib explained.
More foreign funds are expected to flow into Indonesia’s stock and debt market following the latest US moves as Indonesia remains one of the most attractive emerging markets that can offer higher returns on investments, analysts said.
As reported on Saturday, BI’s director of monetary policy research Perry Warjiyo said the central bank had prepared several measures to safeguard against potentially adverse effects
These measures, according to Perry, could include raising the minimum holding period for BI certificates (SBIs), extending the length of term deposits and raising foreign exchange minimum reserve requirements.
“The package is [ready]. But it will be applied depending on the impact of [US] quantitative easing on the capital flow and exchange rate,” Perry told reporters recently.
Martin Panggabean, an economist at Bank Mandiri, said BI’s early preparations of a basket of measures were a good sign that it was concerned about potential outflows, especially after the US announced that it planned to inject $600 billion into its economy.
The US Federal Reserve System recently announced that it would shore up US economic recovery through a round of quantitative easing, planning to buy US$600 billion in longer-term Treasury securities in phases until the middle of next year.
The move will increase the money supply to promote lending and liquidity and is expected to result in increased capital flows to emerging markets that offer higher returns, as near-zero interest rates have failed to boost economic growth in the world’s largest economy.
“More capital inflows in the short-term could potentially result in outflows for the longer-term,” Martin added.
Analysts agreed that BI’s prepared set of measures would help avoid the threat of a sudden reversal and would help reduce currency volatility that could result from incoming foreign funds.
According to BI, the rupiah has appreciated by about 5 percent so far this year, trading in the range of Rp 8,900 against the US dollar.
Analysts believed that BI had been guarding the rupiah from further appreciating by buying US dollars as the trend could hurt exports.
As a result, foreign exchange reserves have continually increased, and, according to BI, could reach $100 billion by the end of the year.
“But BI’s capacity is limited,” University of Indonesia (UI) economist Chatib Basri told The Jakarta Post in a telephone interview on Sunday.
If foreign reserves continue to increase, it will result in higher cost of funds, which will in turn force the central bank to tighten payment of foreign debts.
Chatib, who considered the central bank’s package as “an administrative” help, said the government and private sector could also help in order to help manage a potential flood of capital inflows.
“The most important things are, first, for companies to launch initial public offerings [IPOs] so they could help meet foreign demand.
“And the second, how to shift the funds in the financial market to infrastructure projects which are long-term in nature,” Chatib explained.
Sunday, November 7, 2010
Students use days off to help Merapi victims
With many schools suspending teaching activities following a series of recent eruptions of Mount Merapi, students in Yogyakarta and neighboring cities have spent their days off gathering donations for the eruption's victims.
Benny Berdyanta Raharja, a 10th grader from SMA Bopkri I High School in Yogyakarta, said he had gathered dozens of school friends in his hometown in Klaten to collect donations from road users around the city on Sunday.
"We started at 9 a.m. and in around three hours had managed to collect Rp 400,000 [US$44.8] from passers by," Benny told The Jakarta Post, which was approached by a member of the charity group at an intersection on Jl. Tentara Pelajar.
Klaten is a regency in Central Java that shares borders with Yogyakarta province. Many students from Klaten and other cities around Yogyakarta choose to continue their studies at high schools or universities in Yogyakarta.
Benny said he and his friends were planning to use the money to buy mats and blankets for refugees in the nearest camp.
Ilyas Nurdiansyah, 17, a 12th grader from SMA 2 Klaten State High School, also managed to gather his friend to do the same.
Together with more than 20 schoolmates, Ilyas hopped in several intersections in Jl Raya Bendo-Gantungan, Klaten, playing guitar and singing to invite street users donating their money.
"We actually wanted to do the charity work earlier this week, but since our school has continued to open despite Merapi eruption, we only can do it today [Sunday]," Ilyas said.
Aside of collecting donations, other students chose to lend a hand directly in refugee camps.
Since the local authorities used his school to shelter more than 400 refugees since Saturday, Muhammad Nur Huda, a 12th grader from SMK I Boyolali State Vocational School, said he also felt responsible to help Merapi refugees.
Together with a dozen students, Huda helped camp volunteers to prepare meals for refugees at a public kitchen in the morning, and to secure incoming aid .
"If students don't help the refugees, who else will?," he said.
Benny Berdyanta Raharja, a 10th grader from SMA Bopkri I High School in Yogyakarta, said he had gathered dozens of school friends in his hometown in Klaten to collect donations from road users around the city on Sunday.
"We started at 9 a.m. and in around three hours had managed to collect Rp 400,000 [US$44.8] from passers by," Benny told The Jakarta Post, which was approached by a member of the charity group at an intersection on Jl. Tentara Pelajar.
Klaten is a regency in Central Java that shares borders with Yogyakarta province. Many students from Klaten and other cities around Yogyakarta choose to continue their studies at high schools or universities in Yogyakarta.
Benny said he and his friends were planning to use the money to buy mats and blankets for refugees in the nearest camp.
Ilyas Nurdiansyah, 17, a 12th grader from SMA 2 Klaten State High School, also managed to gather his friend to do the same.
Together with more than 20 schoolmates, Ilyas hopped in several intersections in Jl Raya Bendo-Gantungan, Klaten, playing guitar and singing to invite street users donating their money.
"We actually wanted to do the charity work earlier this week, but since our school has continued to open despite Merapi eruption, we only can do it today [Sunday]," Ilyas said.
Aside of collecting donations, other students chose to lend a hand directly in refugee camps.
Since the local authorities used his school to shelter more than 400 refugees since Saturday, Muhammad Nur Huda, a 12th grader from SMK I Boyolali State Vocational School, said he also felt responsible to help Merapi refugees.
Together with a dozen students, Huda helped camp volunteers to prepare meals for refugees at a public kitchen in the morning, and to secure incoming aid .
"If students don't help the refugees, who else will?," he said.
Merapi reunites Yudhoyono, Kalla
Mt. Merapi eruptions have reunited President Susilo Bambang Yudhoyono and his former vice president Jusuf Kalla, who now chairs the Indonesian Red Cross (PMI).
Their close encounter took place at the Yogyakarta state palace on Saturday when they attended a meeting to discuss concerted efforts to mitigate the impacts of the volcano’s eruptions on the people as the disaster has killed more than 100 people and displaced over 200,000 others.
Also seen in the meeting were National Disaster Mitigation Agency chief Syamsul Maarif and other government officials, kompas.com reported.
“You seem to have already worn your battle suit,” Yudhoyono told Kalla, who was wearing his PMI uniform.
The two were involved in a conversation as if nothing had changed since they parted ways ahead of the 2009 presidential election.
"Have you visited the disaster zone?” asked Yudhoyono.
Kalla explained he had toured regions in Yogyakarta and Central Java which were affected by the volcanic explosions.
Their close encounter took place at the Yogyakarta state palace on Saturday when they attended a meeting to discuss concerted efforts to mitigate the impacts of the volcano’s eruptions on the people as the disaster has killed more than 100 people and displaced over 200,000 others.
Also seen in the meeting were National Disaster Mitigation Agency chief Syamsul Maarif and other government officials, kompas.com reported.
“You seem to have already worn your battle suit,” Yudhoyono told Kalla, who was wearing his PMI uniform.
The two were involved in a conversation as if nothing had changed since they parted ways ahead of the 2009 presidential election.
"Have you visited the disaster zone?” asked Yudhoyono.
Kalla explained he had toured regions in Yogyakarta and Central Java which were affected by the volcanic explosions.
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