Latest News: Page 113

16

Feb

Obama sees huge potential in Asean

"Areas like Southeast Asia provide extraordinary opportunity," Obama said as he delivered opening remarks of the U.S.-ASEAN Summit at Sunnylands in [...]

Obama sees huge potential in Asean. `Areas like Southeast Asia provide extraordinary opportunity,` Obama said as he delivered opening remarks of the U.S.-ASEAN Summit at Sunnylands in Rancho Mirage, California, Monday afternoon local time, Tuesday morning Jakarta time.As president, he said, despite the fact that the United States faces threats around the world, its foreign policy must make room for new frontiers.As president, Obama decided the United States would rebalance its foreign policy to become a Pacific nation.`And to play a larger and more active role in the Asia Pacific,` he said.That, he said, includes U.S. engagement with ASEAN, which is `key to the prosperity and peace,``And to our shared goal of building a region,` he said.He is hosting the event for the first time. Sunnylands was chosen because it is away from the cold and snow of Washington, D.C.The U.S.-ASEAN Summit is the seventh such meeting between the U.S. and ASEAN and is expected to serve as a forum for cooperation and a counterbalance to power in the Asia-Pacific region.
Editor: Fitri Supratiwi
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Obama says he has known Southeast Asia since childhood
Tuesday, February 16, 2016 08:37 WIB| 2,766 Views
Journalist: Hanni Sofia Soepardi

US President Barack Obama (REUTERS/Kevin Lamarque)As you know, I first came to know the people and beauty of Southeast Asia as a young boy, when I lived in Indonesia for several years with my mother.

Sunnylands, California (ANTARA News) - The President of the United States (US) admitted that he first came to know the people and beauty of Southeast Asia as a young boy when he lived in Indonesia for several years. `As you know, I first came to know the people and beauty of Southeast Asia as a young boy, when I lived in Indonesia for several years with my mother,` President Obama said as he delivered opening remarks of the U.S.-ASEAN Summit at Sunnylands in Rancho Mirage, California, Monday afternoon local time, Tuesday morning Jakarta time, when California time was 15 hours slower than Jakarta time. As the US president, Obama admitted that he had had the opportunity to visit almost all of the ASEAN countries. According to him, all delegates of the US-ASEAN Summit present and the ASEAN people have always shown great hospitality. `And I hope that I can repay the hospitality in the next few days,` he said. In his speech, President Barack Obama said he was very happy to welcome the ASEAN Heads of State / Government at the historic meeting. `This is the first time that the United States has hosted the US-ASEAN Meeting. This reflects my personal commitment, the United States' commitment to each country and to the people of ASEAN,` he said. He also expressed his gratitude to Laos, the Chair of ASEAN, and ASEAN Secretary General Le Luong Minh. `I express my gratitude to the (ASEAN) Chair with me from Laos, Secretary General Minh, and the ten ASEAN countries present today,` he said. The theme adopted at the first retreat of the US-ASEAN Summit was Promoting an Innovative, Entrepreneurial ASEAN Economic Community. The meeting took place at the Sunnylands Center & Gardens Interactive Gallery.
Editor: Fitri Supratiwi

Jokowi carries digital economy at US-ASEAN Summit

16

Feb

Jokowi carries digital economy at US-ASEAN Summit

"This Special ASEAN-US Summit is a good opportunity to strengthen relations between ASEAN and the United States (US), especially in the economic [...]

Jokowi carries digital economy at US-ASEAN Summit. `This Special ASEAN-US Summit is a good opportunity to strengthen relations between ASEAN and the United States (US), especially in the economic sector,` President Jokowi said at the ASEAN-US High Level Summit or ASEAN-US Summit Retreat I, which was held at the Interactive Gallery, Sunnylands Center & Gardens, California, US, Monday afternoon local time or Tuesday, Jakarta time. At the session themed on Promoting an Innovative, Entrepreneurial ASEAN Economic Community, the President highlighted two priorities that need attention from ASEAN and the US, namely MSME cooperation, as well as technology and digital economy. According to President Jokowi, MSME cooperation needs to be mainstreamed because MSMEs form the backbone of Indonesia and ASEAN economies.  `Around 88.8 percent to 99.9 percent of the type of businesses in ASEAN are MSMEs, and they absorb 51.7 percent to 97.2 percent of the workforce in ASEAN,` he said. In Indonesia itself, the President said, MSMEs that have a strong resilience capacity support the national economy, even in the midst of a global crisis. However, the President continued, MSMEs often face challenges, particularly related to increasing capacity, accessing capital and alternative financing, access to technology, access to the global market, and integration with regional and global supply chains. To that end, President Jokowi thought that ASEAN-US cooperation is needed to ensure there is complete support for the development and resilience of MSMEs, particularly in the context of market access and knowledge transfer from large-scale companies to MSMEs. On the same occasion, President Jokowi also stated that technology and digital economy are inevitable in the digitalization era. `Every government must ensure that this era can provide benefits for the people, particularly MSMEs. MSMEs must gain access to technology and digital economy,` the President said. According to the President, Indonesia has a vision to make Indonesia the biggest digital economy in 2020.  Therefore, Indonesia strongly supports ASEAN-US cooperation in the field of information technology, particularly the use of digital economy for the public. `I believe this cooperation can narrow the development gap among ASEAN countries,` the President said while closing his speech at the Session I Retreat.
Editor: Fitri Supratiwi
http://www.antaranews.com/berita/545332/jokowi-usung-ekonomi-digital-pada-ktt-as-asean

Trade Minister: Progressive CPO Tax in France Due to Minimal Information

15

Feb

Trade Minister: Progressive CPO Tax in France Due to Minimal Information

"I met specially with Ecology Faction senator, Senator Ronan Dantec, and his response was positive," said Trade Minister Thomas, through a press [...]

Trade Minister: Progressive CPO Tax in France Due to Minimal Information. `I met specially with Ecology Faction senator, Senator Ronan Dantec, and his response was positive,` said Trade Minister Thomas, through a press release to KOMPAS.com (14/02/2016). Trade Minister Thomas also met with Jerome Bignon, the Biodiversity Bill Rapporteur. The result was that Bignon said that the draft would only be decided by the French National Assembly in March 2016.`I will use the available time span well to continue to communicate and lobby a number of parties, especially the Ecology Faction,` Thomas continued.According to Trade Minister Thomas, the key factor in this case is the lack of information about palm oil that is well understood by the government, parliament, and the French people. This causes all information about palm oil products to be less accurate. In the end, the decision that is made will be less good. Therefore, going forward the government will carry out an intensive public campaign.`I invite all parties, not just the government alone, to support the success of this public campaign,` explained Trade Minister Thomas.He plans to invite representatives of the French Parliament and Government to Indonesia to observe the palm plantations firsthand. This is to show that palm oil is not only owned by large companies. Palm oil in Indonesia is also a source of revenue for 16 million workers and supports the people's economy in poverty eradication.`The principles of sustainable palm oil are also being carried out aggressively through ISPO (Indonesian Sustainable Palm Oil),` said Trade Minister Thomas.Previously, the Indonesian Government opposed Amendment Draft No. 367 regarding the Biodiversity Regulation. This amendment draft states that products made from palm oil, palm kernel oil, and coconut oil will be subject to progressive tax. The plan is for this tax to begin in 2017 at EUR 300 per ton and to continue to increase in 2020 at EUR 900 per ton.

Author
: Aprillia Ika

Editor
: Aprillia Ika

http://bisniskeuangan.kompas.com/read/2016/02/15/070933626/Mendag.Pajak.Progresif.CPO.di.Perancis.Akibat.Informasi.Minim

Rupiah has Opportunities to Beat US Dollar Today

15

Feb

Rupiah has Opportunities to Beat US Dollar Today

Central Bank of Asia's Economist, David Sumual, said that last weekend's rupiah weakness was more driven by the action of buying dollars at a low [...]

Rupiah has Opportunities to Beat US Dollar Today. Central Bank of Asia's Economist, David Sumual, said that last weekend's rupiah weakness was more driven by the action of buying dollars at a low price, also known as bargain hunting.On top of that, there was also pressure due to the correction of oil prices. `The domestic sentiment is pretty good. The current account deficit is shrinking,` he said.From the aforementioned factors, David sees an opportunity for the rupiah to strengthen on Monday (2/15/2016). Especially if the import and export figures are still within range. However, the appreciation will be limited because the US dollar has also received a positive catalyst from retail sales data.Furthermore, the market still tends to avoid risks, and this is advantageous for the emerging market currencies. The market is inclined to wait for the US inflation data that will be a strong sign towards the Fed raising the interest rates.However, the appreciation of the rupiah will be limited because the market will anticipate the BI rate. Analysts predict that today the rupiah will fluctuate between Rp 13,200 and Rp 13,700 per US dollar. (Namira Daufina)

Author
: Aprillia Ika

Editor
: Aprillia Ika

Source
: KONTAN

http://bisniskeuangan.kompas.com/read/2016/02/15/080047426/Rupiah.Berpeluang.Ungguli.Dollar.AS.Hari.Ini

CPO PRICES FEB 11: RI supply shrinks, CPO climbs to Rp8.42 million/ton in Malaysia

11

Feb

CPO PRICES FEB 11: RI supply shrinks, CPO climbs to Rp8.42 million/ton in Malaysia

April 2016 palm oil futures contract, the most active contract in Bursa Malaysia, started trading 0.43% lower at RM2, 556 per tonne. However, CPO [...]

CPO PRICES FEB 11: RI supply shrinks, CPO climbs to Rp8.42 million/ton in Malaysia.  April 2016 palm oil futures contract, the most active contract in Bursa Malaysia, started trading 0.43% lower at RM2, 556 per tonne.
However, CPO prices turned higher to RM2, 578 per tonne and were trading 0.31% up at RM2, 575 or Rp8.42 million per tonne at 10.27 WIB.
Sentiments on CPO price in Kuala Lumpur stems from decreased palm oil supply in Indonesia, the palm oil- producing country in the world.
Indonesia Palm Oil Producers Association data shows that palm oil export decreased by 22% to 1.7 million tonnes in January 2016 compared to the previous month, its lowest decrease in April 2014.
 `Supply is very limited in a low production period and is affected by El Nino. Production will remain low until June or July. Domestic demand is increasing,` Joeliant of PT SMART Tbk (SMAR) told Bloomberg.
Production in January reached 2.23 million tonnes, down from a production of 2.43 million tonnes in December. Stockpiles also decreased from 2.9 million tonnes to 2.05 million tonnes in the same period.
The effect of El Nino is predicted to cause CPO stocks in Malaysia to drop 11% to 2.33 million tonnes, the lowest level in 6 months. 
Intertek predicts that CPO export in Malaysia will drop 22.7% to 249, 835 tonnes between 1-10 February 2016 compared to that in the same period in the previous month.
April 2016 CPO Contract Price Movement

Date
Level
Change

11/2/2016(10.27 WIB)
2.575
+0.31%

10/2/2016
2.567
-0.50%

9/2/2016

8/2/2016

5/2/2016
2.580
+1.94%

Source: Bloomberghttp://market.bisnis.com/read/20160211/94/518039/harga-cpo-11-februari-pasokan-ri-menyusut-cpo-naik-ke-rp842-jutaton-di-malaysia

OPEC oil output rises in January despite lower prices

11

Feb

OPEC oil output rises in January despite lower prices

OPEC, the Organization of the Petroleum Exporting Countries, has kept its oil production at a high level in recent months despite a slump in world [...]

OPEC oil output rises in January despite lower prices. OPEC, the Organization of the Petroleum Exporting Countries, has kept its oil production at a high level in recent months despite a slump in world crude prices, Xinhua reported. `The increase in crude output was largely contributed by Nigeria, Iraq, Saudi Arabia and Iran,` said the report. Tehran has said that it could significantly increase its oil production shortly after sanctions are lifted. OPEC members have shown no sign of cutting oil production to balance the market. In the past few meetings of OPEC member states in Vienna, the cartel has refused to reduce crude oil production in order to maintain its market share, and the OPEC has kept its output at over 30 million barrels of crude oil per day. Despite the low oil prices, other major oil producers, such as the United States (US) and Russia, have also kept their oil production high. Non-OPEC producers are expected to pump more crude in 2015 than they did a year earlier. However, the cartel still predicts a decline in non-OPEC oil production in 2016.(T.A026)
Editor: B Kunto Wibisono

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