Latest News: Page 106

07

Mar

Oil leaps on hopes of US demand

US benchmark West Texas Intermediate (WTI) crude for April delivery jumped $1.35 to close at $35.92 a barrel on the New York Mercantile Exchange. In [...]

Oil leaps on hopes of US demand. US benchmark West Texas Intermediate (WTI) crude for April delivery jumped $1.35 to close at $35.92 a barrel on the New York Mercantile Exchange.  In London, North Sea Brent crude for May delivery, the European benchmark for oil, finished at $38.72 a barrel, up $1.65.  WTI crude gained about three dollars over the week with Brent advancing more than $3.50.  It was the second straight week of strong gains in oil markets, which had wallowed near 13-year lows below $30 a barrel in January.  `We are seeing a lot of investors coming back in and putting money back to work,` Carl Larry of Frost & Sullivan told AFP.  On Friday, `we got a lift from the (US) jobs number,` he said, referring to the closely watched Labor Department monthly employment report.  Job creation was much stronger than expected in February, and the unemployment rate held steady at 4.9 percent, an eight-year low.  The surprisingly robust jobs figures `underscored pretty decent economic growth,` boosting the outlook for demand, said Kyle Cooper of IAF Advisors.  Some analysts cautioned that beneath the headline jobs number, details were less rosy, such as a modest slowdown in wage growth and a continued high number of part-time workers.  But from the oil market's perspective, that does not matter, said Larry. `Whether they are full-time or part-time, they are still workers being put to work.`  The latest US oil rig count from Baker Hughes offered an indication that US crude output is being curtailed. The oilfield services company said the number of active rigs fell by 13 to 489, down 60 percent from a year ago. (Uu.A026)
Editor: Heppy Ratna
http://www.antaranews.com/berita/548587/harga-minyak-melonjak-didorong-harapan-permintaan-as

European lyrics of Indonesia for business and investment in the MEA era

07

Mar

European lyrics of Indonesia for business and investment in the MEA era

"Indonesia has its own attraction for foreign investors to develop their businesses in Indonesia. The opening of the ASEAN market has made countries [...]

European lyrics of Indonesia for business and investment in the MEA era. `Indonesia has its own attraction for foreign investors to develop their businesses in Indonesia. The opening of the ASEAN market has made countries in Europe and America compete to expand their businesses to the Southeast Asian market, including Slovenia,` said Director General for National Export Development at the Ministry of Trade Nus Nuzulia Ishak in Jakarta, Friday. Slovenia, a former Yugoslav state in Central Europe with a stable and growing economy, and on Friday (4/3) the State Secretary of the Slovenian Ministry of Economic Development and Technology, Ales Cantarutti, paid a courtesy visit to Indonesia to explore business and investment opportunities. According to Nus, increasing trade and investment cooperation with Slovenia will have a significant impact on national economic growth and this is a good opportunity to increase Indonesian exports, especially to Slovenia. According to Nus, since bilateral relations between Indonesia and Slovenia began in 1992, trade cooperation between the two countries has continued to grow. The total trade between Indonesia and Slovenia in 2015 was recorded at US$ 106 million, an increase of 11.74 percent from the previous year. Currently, Indonesia's main partners in Europe include the Netherlands, Italy, Germany, and Spain. Meanwhile, Slovenia's main trading partners include Germany, Austria, Croatia, Italy, and France.  In 2015, Indonesia's exports to Slovenia were recorded at US$ 93.25 million, or up 12.88 percent from the previous year. Meanwhile, Indonesia's imports from Slovenia in the same year amounted to US$ 12.78 million, up 4.09 percent. In the meeting, Nus was accompanied by representatives from the Indonesian Chamber of Commerce and Industry, the Investment Coordinating Board (BKPM), the Ministry of Energy and Mineral Resources (ESDM), and the Ministry of Defense. Meanwhile, the Slovenian Delegation consisted of a number of officials, members of the Slovenian Chamber of Commerce and Industry, and seven Slovenian business actors from various sectors.  One of the agenda items of the visit is a business-to-business (B2B) meeting between Slovenian business actors and Indonesian business actors. The Slovenian delegation is also scheduled to visit several companies in Jakarta to find the right partners for joint ventures and to see the production activities firsthand. The sectors targeted by Slovenia in this visit include energy, wood processing, electronic transmission, defense equipment, and waste management. The arrival of the Slovenian business delegation is expected to increase Indonesian exports to Slovenia in particular and to Europe in general.  Slovenia's economy tends to be stable compared to other former Yugoslav countries. Slovenia's per capita income is among the highest in Central Europe. Slovenia was hit by the global crisis in 2008, but Slovenia has recovered and now has a strong economy. Some of Indonesia's main export products to Slovenia include natural rubber, valued at US$ 49.57 million or 53.16 percent of Indonesia's total exports to Slovenia, coal at US$ 12.08 million or 12.96 percent, and uncoated paper and cardboard at US$ 3.79 million or 4.07 percent. 
Editor: Aditia Maruli
http://www.antaranews.com/berita/548631/eropa-lirik-indonesia-untuk-bisnis-dan-investasi-di-era-mea?utm_source=populer_home&utm_medium=populer&utm_campaign=news

From Sugarcane to Sugar, Indonesia's Inefficient Route

03

Mar

From Sugarcane to Sugar, Indonesia's Inefficient Route

They finance the supporters in Entikong in West Kalimantan, which borders directly with Malaysia, to shop for sugar in the neighboring country. [...]

From Sugarcane to Sugar, Indonesia's Inefficient Route. They finance the supporters in Entikong in West Kalimantan, which borders directly with Malaysia, to shop for sugar in the neighboring country. Malaysia is not an exporting country. The neighboring country procures sugar from Thailand. Although Entikong residents get sugar officially from Malaysia which is sourced from Thailand, the price is still cheaper than the sugar produced by hundreds of sugar factories in Indonesia. “This can happen due to the efficiency of sugarcane farming and sugar production in Thailand, which is much better than that in Indonesia. This will become a threat to the sugarcane and sugar production in Indonesia if the AEC takes effect,” said Sahat M. Pasaribu, Agricultural Economist from Bogor Institute of Agriculture (IPB). According to Sahat, one key to the success of the sugar industry in Thailand is its high productivity. It makes the yield to reach more than 10%. With the high productivity of sugarcane land, the sugar industry in Thailand has strong competitiveness in the world sugar market. The result of cost analysis shows that the sugar production cost in Thailand is the lowest worldwide. In 2011, there were 47 sugar factories in Thailand which produced more than 100 million tons of sugar cane and 10 million tons of sugar/year. 
In 2013, its sugarcane production has increased again to more than 105 million tons and its export reaches 9.3 million tons. In 2014, Thailand's sugar production reached 11 million tons with a local consumption of 2.5 million tons/year. “Now Thailand is recorded as one of the largest sugar exporter in the world,” says Sahat. Thailand is now far leaving behind Indonesia which used to be the world's second largest sugar producer in the 80s. Now Indonesia has become a sugar importer. One of the causes of the low sugar production in Indonesia is the issue of efficiency. Especially in terms of sugarcane, because the average level of sugarcane yield in Indonesia only ranges from 5-6 percent. It is far lower than Thailand's which reaches more than 10 percent. There are many factors that cause this. For example, the sugarcane land which is now much reduced, the irrigation system which is not good yet, uneconomical fertilizer, and the lack of farmer's capital. If this can be overcome, there is also another factor that causes the inefficiency of sugarcane production into sugar. 
The poor cultivation management sometimes results in lower sugarcane yields from the farmers. The longer the sugarcane is dry or delayed in the harvest, the lower the yield result will be or not at its best. “For example, in terms of sugarcane harvest and its transportation to the factory. It often happens that the sugarcane farmers bribe the sugar factory to get their land harvested first so that their sugarcane harvest will not dry out and its yield will be good,” says Sahat. In order to increase the sugarcane yield and efficiency in the production process from sugarcane into sugar, a breakthrough must be made by the government which works in partnership with the private sector. Starting from the credit granting, good cultivation management, to the optimal harvest and production process. In addition to the revitalization of the sugarcane factories so that they can produce a maximum yield and their production capacity can be increased. If this efficiency can be carried out well, then the government purchase price (HPP) for sugar cane can be created. Of course, this HPP for sugarcane is created with a price that is attractive to the farmers and encourages them to grow sugarcane which will produce sugar. Editor: Toni Bramantoro http://www.tribunnews.com/bisnis/2016/03/02/dari-tebu-ke-gula-kurang-efisien-di-indonesia?page=3

President Wants State-Owned Company Holding to be Decided Soon

29

Feb

President Wants State-Owned Company Holding to be Decided Soon

In the opening of the closed meeting, he said the implementation of the holding would be the first step towards creating a state-owned enterprise [...]

President Wants State-Owned Company Holding to be Decided Soon. In the opening of the closed meeting, he said the implementation of the holding would be the first step towards creating a state-owned enterprise (SOE) that was strong, agile, and brave in facing an era of competitive competition.
“Be it in the form of superholding or holding, or starting first with virtual holding. This must be decided immediately so that the SOE's strength and agility may be immediately carried out, especially in facing the AEC,” he said at the Presidential Palace Complex on Monday (29/2/2016).
With that, he said SOEs could become the locomotive of economic growth by giving the maximum multiplier effect for the prosperity of the people.
In addition, Jokowi said this method could make domestic SOEs not only strong within the country, but also able to achieve in international competitions.
“In addition to restructuring and focusing on business, a total change in work culture in SOEs is also needed; I am certain we have competitiveness,” he said.
Previously, in a copy of the document from the Ministry of SOEs obtained by Bisnis, it was preparing around 15 SOE holdings in the period of 2015-2019 as an effort to make SOEs the front line in national development.
The SOE holdings that were prepared include the sectors of tourism, logistics, food, plantations, fertilizer, pharmaceuticals, ports, construction and infrastructure, connectivity, mining, strategic defense, reinsurance, heavy industry, general insurance, banking, and survey services.

Editor : Fatkhul Maskur

http://finansial.bisnis.com/read/20160229/309/523643/presiden-ingin-holding-bumn-segera-diputuskan

PALM OIL COMPETITIVENESS: 149 Companies Receive ISPO Certification

29

Feb

PALM OIL COMPETITIVENESS: 149 Companies Receive ISPO Certification

Bayu Krisnamurthi, CEO of the Plantation Fund Management Agency (BPDP) of palm oil, said ISPO certification efforts for companies and farmers [...]

PALM OIL COMPETITIVENESS: 149 Companies Receive ISPO Certification. Bayu Krisnamurthi, CEO of the Plantation Fund Management Agency (BPDP) of palm oil, said ISPO certification efforts for companies and farmers will be accelerated. At this time, there are still 540 companies that are still in the process of ISPO audits. Palm oil funds are also expected to assist with the process of financing for the auditing process, in addition to being used for ISPO certification for farmers. “This is important because we want sustainability to become our identity and our advantage. Another important aspect for us to promote in other countries is to show that Indonesia emphasizes this aspect of sustainability,” he explained after holding a meeting with Coordinating Minister for Economic Affairs Darmin Nasution, in Jakarta, Monday (29/2/2016). He said the ISPO Secretariat will also be involved in actualizing the use of palm oil funds to assist farmers in obtaining certification and have their products declared as sustainable products. The additional 540 palm oil companies being audited to obtain ISPO will make total production of sustainable palm oil reach 10 million to 11 million tons of palm oil. “Total Indonesian production is almost 32 million tons or 33 million tons. We still have to work hard to reach 100%,” he said. As is known, ISPO is a policy adopted by the government to increase the competitiveness of Indonesian palm oil in the global market. In addition, ISPO is a form of an effort to reduce greenhouse gases and give attention to environmental problems.  Editor : Linda Teti Silitonga  http://industri.bisnis.com/read/20160229/99/523595/daya-saing-sawit-149-perusahaan-terima-sertifikasi-ispo

Venezuela, Qatar, Saudi Arabia, Russia to meet on oil price-Reuters

26

Feb

Venezuela, Qatar, Saudi Arabia, Russia to meet on oil price-Reuters

"We have reached an agreement...to meet in a yet to be determined city, to decide on the proposals," Del Pino said in an interview with local [...]

Venezuela, Qatar, Saudi Arabia, Russia to meet on oil price-Reuters. `We have reached an agreement...to meet in a yet to be determined city, to decide on the proposals,` Del Pino said in an interview with local television network Telesur. He also called for the participation of all OPEC members and allies in the meeting, so that far-reaching actions could be taken to address the troubled market. `We need to submit this agreement to the world's main oil producers ... and take a decision on how to stabilize the market,` he was quoted as saying by Xinhua. On Feb. 16, oil ministers from Venezuela, Saudi Arabia, Russia and Qatar signed an agreement in Doha on coordinating actions to freeze oil output in an effort to stabilize global oil prices and ensure the sustainability of the industry. Venezuela's state oil firm PDVSA also said that the ministers agreed to establish a monitoring committee `to follow up on the results of these actions.` The Venezuelan government has been actively pushing for a production freeze since mid-2015 because oil prices have plunged by nearly 70 percent since mid-2014 to below 33 U.S. dollars a barrel on Wednesday. (Uu.A026)   
Editor: Maryatihttp://www.antaranews.com/berita/547168/venezuela-qatar-saudi-dan-rusia-akan-bertemu-bahas-harga-minyak

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