Latest News: Page 103

Oil slumps as hopes of production freeze fade

16

Mar

Oil slumps as hopes of production freeze fade

The U.S. benchmark, West Texas Intermediate (WTI) for April delivery, fell 84 cents to settle at $36.34 a barrel on the New York Mercantile [...]

Oil slumps as hopes of production freeze fade. The U.S. benchmark, West Texas Intermediate (WTI) for April delivery, fell 84 cents to settle at $36.34 a barrel on the New York Mercantile Exchange.Europe's benchmark, Brent North Sea crude for May settlement, lost 79 cents to close at $38.74 a barrel in London dealing.Crude oil prices have rallied from their lows in January, helped by talk of a production freeze led by Russia and Saudi Arabia. But sentiment has turned more sceptical this week. "Brent crude prices have fallen for four out of the last six trading days, the worst run in three weeks, as the chances of a coordinated output freeze deal between OPEC and non-OPEC producers recede while Iranian output has increased significantly over the last month," said CMC Markets analyst Jasper Lawler. A proposed meeting in Russia between Saudi Arabia and other oil producers to discuss output limits has been pushed back to April from March 20. Tim Evans of Citi Futures said the market sell-off reflects "a broader recognition that the proposed output freeze by key OPEC and non-OPEC producers looks more like a status quo policy than a game-changer.""A meeting may yet happen in April, but we would not be surprised if the campaign to get a meeting shifts to lobbying efforts targeting the June 2 OPEC summit," Evans said.Traders are also awaiting the release of official U.S. government data on oil inventories later Wednesday, with expectations of another increase in already bulging commercial crude stockpiles.
Editor: Ade Marboenhttp://www.antaranews.com/berita/550280/minyak-terus-merosot-karena-harapan-pembekuan-produksi-memudar

14

Mar

BMKG: Indonesia Set to Enter Dry Season

An official announcement that was published by the BMKG on Monday (3/14/2016), revealed that most, or about 66% of Indonesia, will enter their dry [...]

BMKG: Indonesia Set to Enter Dry Season. An official announcement that was published by the BMKG on Monday (3/14/2016), revealed that most, or about 66% of Indonesia, will enter their dry season starting in May-June.
`The beginning of the dry season will not be the same across Indonesia. There are several areas that already began the dry season in February, namely the eastern coast of northern Sumatera and Riau,` stated the official announcement on Monday (3/14/2016).
The BMKG explained that, when compared to that of the last 30 years, the beginning of the dry season in 2016 is predicted to be 50% late; also, 23% is predicted to have an early dry season.
In addition, the appearance of La Nina is predicted to begin at the end of the year, between October and December 2016, with a probability of 50%. That period coincides with the beginning of the rainy season, so we must be aware of the potential for heavy rainfall.

Editor: Fatkhul Maskur

http://industri.bisnis.com/read/20160314/99/527744/bmkg-indonesia-segera-masuki-musim-kemarau

BEI INDEX MARCH 14 : IHSG Strengthens as Market Awaits Interest Rates from BI, Fed, BoJ

14

Mar

BEI INDEX MARCH 14 : IHSG Strengthens as Market Awaits Interest Rates from BI, Fed, BoJ

The JCI opened up 0.52% or 25.25 points to 4,839.03, and then continued to strengthen to 0.60% or 28.67 points to 4,842.45 at 09.11 western Indonesia [...]

BEI INDEX MARCH 14 : IHSG Strengthens as Market Awaits Interest Rates from BI, Fed, BoJ. The JCI opened up 0.52% or 25.25 points to 4,839.03, and then continued to strengthen to 0.60% or 28.67 points to 4,842.45 at 09.11 western Indonesia time.
Head of Research at Asjaya Indosurya Securities, William Surya Wijaya, said that currently the price of oil is still has a large or small influence on the movement pattern of the JCI.
Previously, market players were focused on the ECB meeting last week. At the moment, Head of Research at NH Korindo Securities Indonesia Reza Priyambada said that investors were focused on the new policy of the Bank of Japan today, and then the meeting of the board of governors of BI this week which will decide on March 17, 2016, including the FOMC meeting of the Fed on March 16, 2016.
The movement of the JCI this morning was supported by the strengthening of several big cap stocks such as PT Hanjaya Mandala Sampoerna Tbk (HMSP), up 1.03% and PT Unilever Indonesia Tbk (UNVR) which was up 0.93%.
Of the 9 JCI sector indices, only the financial sector slightly weakened by 0.02%. Meanwhile, the various industrial and mining sectors led the trading today. The Bisnis27 Index also opened up 0.75% or 3.15 points at 420.38.
Stocks driving the JCI at the beginning of the trading:

Code

(%)

HMSP

+1,03

UNVR

+0,93

ASII

+1,06

TLKM

+0,89

Stocks burdening the JCI at the beginning of the trading:

Code

(%)

BBCA

-0,19

MIKA

-1,23

BNLI

-2,86

NOBU

-4,17

Source: Bloomberg

Editor : Linda Teti Silitonga
http://market.bisnis.com/read/20160314/7/527733/indeks-bei-14-maret-ihsg-menguat-saat-pasar-tunggu-suku-bunga-bi-fed-boj

Bulog's Assignment Is Getting More Confusing

11

Mar

Bulog's Assignment Is Getting More Confusing

It is widely rumored that Bulog will once again be tasked with maintaining price stability of 11 more food items, not just the three food commodities [...]

Bulog's Assignment Is Getting More Confusing. It is widely rumored that Bulog will once again be tasked with maintaining price stability of 11 more food items, not just the three food commodities of rice, soybeans and corn.
This means that the results of the coordination meeting at the Coordinating Ministry of Economy on Tuesday, February 20, 2016 have changed again. At that time, Bulog’s role, which was initially requested to become a buffer for 11 food items, was cut to only three food commodities.
Now, it is rumored that Bulog will become a buffer for 11 food commodities, namely rice, soybeans, corn, beef, chicken, sugar, eggs, chili, onions, flour, and cooking oil.
The vagueness of this assignment is due to the fact that the Presidential Regulation (Perpres) on Bulog’s Assignment has yet to be issued.
Wahyu, Director of Procurement at Bulog, said that up until now, the plan to expand Bulog's assignment is still being developed. “The discussion is developing, from stabilizing 11 food commodities to three, but it sounds like it's going back to 11,” said Wahyu on Tuesday (March 8).
The certainty of the assignment to Bulog will only be known after the issuance of a Presidential Regulation governing this matter.
According to Wahyu, Bulog is always ready, whether it will be assigned to become the stabilizer of 11 basic food commodities or only three commodities. “The sooner the Presidential Regulation is issued, the sooner we can move with legal protection,” he said.
If the Presidential Regulation is issued, Bulog can quickly move to prepare infrastructure, funding, and cooperation with other parties to carry out this assignment.
Several other BUMNs in the food sector have expressed their readiness to cooperate with Bulog. Agung Darmawan, Director of PT Pertani, is ready to help Bulog in procuring and drying paddy.
`We are also cooperating in the procurement of dry field rice (GKS),` said Agung.
PT Berdikari has had a long-standing partnership with Bulog.
When Bulog was assigned to import beef, Berdikari's Slaughterhouse (RPH) was used as one of the slaughter places and the cattle pen was used as a shelter for Bulog's cattle. 
Reporter: Noverius Laoli 
Editor: Choirul Arifin
Source: Kontan
http://www.tribunnews.com/bisnis/2016/03/10/penugasan-untuk-bulog-kian-simpang-siur?page=2

CPO PRICE MARCH 10: Market Gains Support From Malaysia Exports

10

Mar

CPO PRICE MARCH 10: Market Gains Support From Malaysia Exports

The contract for the May 2016 delivery of CPO, the most actively traded contract at Bursa Malaysia, opened 0.51% higher at a price of 2,570 ringgit [...]

CPO PRICE MARCH 10: Market Gains Support From Malaysia Exports. The contract for the May 2016 delivery of CPO, the most actively traded contract at Bursa Malaysia, opened 0.51% higher at a price of 2,570 ringgit or Rp8.2 million per ton. 
The commodity continued to rise after jumping 1.15% yesterday. At 10:17 WIB, the CPO was traded 0.35% stronger at 2,566 ringgit per ton.
Intertek's Data shows that the export of CPO climbed 31.1% to 327,551 tons on March 1-10 2016, from 249,835 tons on February 1-10 2016.
Positive sentiments also came from CPO substitute commodities, which were on the rise. The price of soybean oil earlier today closed by climbing 1.93% and slipped 0.44% to US$31.60 per pound at 10:17 WIB. The price of Brent crude oil fell 0.46% to US$40.88 per barrel at 10:18 WIB after closing 3.58% stronger yesterday.
Price Movement of May 2016 CPO Contracts

Date
Level
Change

10/3/2016(10.17 WIB)
2,570
+0.35%

9/3/2016
2,557
+1.15%

8/3/2016
2,528
-0.35%

7/3/2016
2,534
+1.08%

4/3/2016
2,507
+0.24%

Source: Bloomberg

Economic Barriers to the Digital Economy in the Global Economy

10

Mar

Economic Barriers to the Digital Economy in the Global Economy

Farmers feed billions across the globe via precision agriculture – eliminating further depletion of increasingly scarce natural resources. [...]

Economic Barriers to the Digital Economy in the Global Economy. Farmers feed billions across the globe via precision agriculture – eliminating further depletion of increasingly scarce natural resources. Consumers collectively converge to transform a 130-year-old soft drink recipe for the better, driven by nutrition.There’s no denying that hyperconnectivity and the data it generates is transforming our lives and upending the business world.According to The Economist Intelligence Unit (EIU) study, “The Impact of Hyperconnectivity on Your Organization,” we are merely scratching the surface when it comes to realizing the full potential of the Digital Economy. Businesses which successfully integrate hyperconnectivity into their strategies are more likely to experience streamlined collaboration across divisions and geographies, adopt a data-driven approach to organizational decision-making, and accelerate process improvement. The real gains, however, lie in the transformative changes taking place across the enterprise.Digital Economy imperativeBeyond how machines, people, processes, and things are connecting with one another, several business cases are proving that the Digital Economy is upending the business world. In the EIU study, 59% globally cite embracing hyperconnectivity as imperative to keep pace with ever-changing market demands – and 69% claim that a failure to adapt represents significant risk and missed opportunity.Here in Indonesia, a report by the Indonesian Internet Service Providers Association (APJII) and the University of Indonesia’s Communication Studies Research Center, states that by the end of 2014, Indonesia already had 88,700,000 mobile Internet users. This number is projected to steadily increase to 112 million mobile Internet users by 2017. With this, Indonesia has significant potential to become a hub for new digital economy growth. This is further strengthened by Indonesia’s young and growing population, which is projected to reach 280 million by 2030, contributing to an average annual GDP growth of 2.4% from now until then.As Indonesia’s population continues to grow, so too will their engagement with social media. These social media trends are popular among the middle class, which business leaders see as a positive development. Aside from its rapid growth and undeniable pervasiveness, it presents a substantial opportunity to engage with digitally connected consumers.The Indonesian government and its stakeholders need to work closer to push for a sustainable growth of the Digital Economy. Indonesia is now starting to catch up with countries that focus on their digital economy, by beginning to increase the provision of broadband infrastructure, including fixed and mobile broadband, and the deployment of fourth-generation (4G) technology. The target of Indonesia’s Master Plan for the Acceleration and Expansion of Indonesia’s Economic Development (MP3EI) is to transform 135 cities/districts by 2019 as a legacy of the current President. This will further fuel Indonesia’s growth as a digital nation.The Digital Economy is not only leveling the playing field, but also enabling every business regardless of size, industry, or geography. Here are four areas of any business responding favorably to the increased speed, collaboration, and insight hyperconnectivity brings:1. Strategy and business developmentTraditionally, expanding into international markets has been viewed as a risky move. Now, many businesses are capitalizing on the removal of barriers that once discouraged them.According to the EIU study, while 39% remain apprehensive that moving forward will strain established markets, almost half of the respondents agree that their plans for global expansion are a strategic way to compete against ever-changing digital channels. Furthermore, knowing where to go next is only getting easier – 40% will be better able to identify new geographies ripe for their current offerings.2. Product developmentToday’s customers have a greater voice in how products are created and delivered than ever before. But the future will see customer and business relationships becoming even more intertwined through digital channels. The EIU study reports over 50% of respondents plan to customize products and services to meet individual needs. Even more striking, 41% foresee incorporating customers into the product development process.The primary source of competitive pressure, however, does not come from customers. Rather, it’s the digital offerings of established rivals that loom largest. More than half (57%) admit to experiencing “moderate” or “severe” competitive pressure as a result of incumbents’ digital offerings. And there seems to be no relief in sight – with 69% expecting significant competition from the same established players.3. Supply chainSignificant cost savings – at least for the 35% of respondents the EIU study cites. As more businesses seize the opportunity to expand their operations, 38% also find that hyperconnectivity empowers them to work just as effectively with international suppliers.Why? Not only does the Digital Economy open doors to every supplier across the globe, it opens buyers to your products. As a result, businesses will become more selective about the suppliers they choose (39%) and increase the variety of materials purchased through the supply chain (27%).4. Human resourcesIn the EIU study, the most cited impact of hyperconnectivity is the acceleration of business processes. In fact, 46% indicate the automation of business processes as their most adopted response to the interconnectedness of data, processes, and things. Going forward, almost half of respondents believe that hyperconnectivity can help their organizations become more agile and innovative while reducing centralized control.Take PT Kereta Api Indonesia (Persero) for instance. The 151-year-old Indonesian state-owned enterprise that manages the railway transportation in Indonesia is currently aligning its business models with business processes brought about by the digital world.By streamlining services through hyperconnectivity, PT Kereta Api Indonesia (Persero) is building customer trust by delivering what customers value most – reliable and responsive customer service, and competitive pricing.PT Kereta Api Indonesia’s IT vision is to become a business driver in realizing the company’s vision of transforming into the best railway service provider. To reach this vision, the company’s management turned to SAP solutions to power their business. They implemented the key ERP solutions for their Railstar Project to enable improvements in railway infrastructure maintenance. This drive for improvement enabled effective changes for its administration and financial reporting processes, as well as better management of its receivables and payables, leading to increased efficiency.No matter how you transform, automate or accelerate processes, people are always at the heart of such transformation. With the influence of hyperconnectivity, more than a third have introduced digital training to support such shifts as automated business processes (46%), outsourced functions (33%), and agile development practices (39%). However, this appears to merely be the tip of the iceberg.

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