Latest News: Page 69

Libya plans on raising its oil production to 900,000 barrels

17

Nov

Libya plans on raising its oil production to 900,000 barrels

“We have been producing 300,000 barrels per day for several months, and we are gradually moving to 600,000 barrels per day. Our target is to reach [...]

U.S. dollar gains on hawkish Fed official comments

17

Nov

U.S. dollar gains on hawkish Fed official comments

Federal Reserve Bank St. Louis President James Bullard said Wednesday that "a single policy rate increase, perhaps as soon as December, would likely [...]

U.S. dollar gains on hawkish Fed official comments. Federal Reserve Bank St. Louis President James Bullard said Wednesday that `a single policy rate increase, perhaps as soon as December, would likely be sufficient to move monetary policy to a neutral setting,` Xinhua reported.He added that it is possible for the U.S. economy to get a medium-term boost if U.S. President-elect Donald Trump increases infrastructure spending and overhauls the tax code.Boston Fed President Eric Rosengren said Tuesday that the central bank won't be easily swayed from raising interest rates in December.On the economic front, the Producer Price Index (PPI) for final demand was flat in October, seasonally adjusted, missing market consensus of a 0.3 percent gain, the U.S. Department of Labor reported Wednesday.U.S. industrial production was unchanged in October after edging down 0.2 percent in September, the Federal Reserve announced.The U.S. dollar index, which measures the greenback against six major currencies, rose 0.28 percent to 100.510 in late trading.In late New York trading, the euro fell to 1.0670 U.S. dollars from 1.0720 U.S. dollars, and the British pound dropped to 1.2433 U.S. dollars from 1.2440 U.S. dollars. The Australian dollar decreased to 0.7477 U.S. dollar from 0.7545 U.S. dollar.The U.S. dollar bought 109.35 Japanese yen, higher than 109.13 yen of the previous session. The U.S. dollar rose slightly to 1.0039 Swiss francs from 1.0021 Swiss francs, and it decreased to 1.3431 Canadian dollars from 1.3468 Canadian dollars. (Uu.A012) 
Editor: Alm 
http://www.antaranews.com/en/news/596626/us-dollar-rises-on-fed-officials-comments

Government Shuts Down Sugar Factories in East Java

16

Nov

Government Shuts Down Sugar Factories in East Java

"There are some PTPN sugar factories that are inefficient and old, and these are the ones that we will close," said State-Owned Enterprises Minister [...]

Government Shuts Down Sugar Factories in East Java. `There are some PTPN sugar factories that are inefficient and old, and these are the ones that we will close,` said State-Owned Enterprises Minister Rini Soemarno at the Launching of the Farmer Card event in Situbondo Asembagus PG, East Java, today.
Minister of State-Owned Enterprises Rini Soemarno's statement is also a response to the various polemics surrounding the government's plan to close sugar factories in East Java. There are 10 sugar factories that are planned to be closed.
Although they will be closed, according to Rini, the government still guarantees that farmers will still be able to plant sugar cane to supply other sugar factories inEast Java. One of them, Asembagus PG owned by PTPN XI, will have its capacity increased from 4,000 tons per day to 6,000 tons per day.
`Once the capacity is increased, farmers will still be able to supply sugar cane and the factory will be able to keep milling. This is in order to be more efficient,` Rini said.
Including in East Java, especially in Situbondo, if the factory's capacity is increased, farmers will be able to increase production of sugar from 110 tons of sugar cane to 140 tons per hectare.
Rini even stated that if farmers' sugar cane production conditions increase, the possibility of building a new sugar factory is not ruled out.
`Sugar factories will be very profitable for farmers because they can continue to plant sugar cane and supply new sugar factories,` she said.
Rini even emphasized that in the new sugar factory, farmers will be given the opportunity to be shareholders so that there is continuity between the factory and the farmers. Because, she said, the cane factory should not end up not wanting to plant sugar cane. `That is why in the new factory, farmers will also be given the right to be shareholders so that they feel a sense of ownership,` she said.
She explained that the government's efforts are not intended to produce quality sugar because Indonesia's sugar prices are still lower than sugarinternational.

On that occasion, Rini Soemarno also launched the `Farmer Card` for sugar cane farmers in East Java. 31,000 Farmer Cards were distributed throughout East Java.
Farmer Cards are intended for farmers so that they can detect all of their needs, from fertilizer to loans requested from the bank. (OL-5)
http://www.mediaindonesia.com/news/read/77713/pemerintah-tetap-tutup-pabrik-gula-di-jatim/2016-11-16

Asian Agri Utilizes Palm Oil Industrial Waste as Biogas for PLTBG

16

Nov

Asian Agri Utilizes Palm Oil Industrial Waste as Biogas for PLTBG

According to the Director of PT Asian Agri Freddy Widjaya, his party has established a Biogas plant as one of the solutions for palm oil waste [...]

Asian Agri Utilizes Palm Oil Industrial Waste as Biogas for PLTBG. According to the Director of PT Asian Agri Freddy Widjaya, his party has established a Biogas plant as one of the solutions for palm oil waste management, which is processed into an alternative green energy in supporting electricity needs.
“The Biogas Plant established by Asian Agri is a form of our responsibility towards environmental sustainability. Rather than merely operating a corporate business, we strive for palm oil processing waste to become beneficial to the environment and to the community,” said Freddy Widjaya in the industrial area of Asian Agri, Pekanbaru, Riau, on Tuesday (15/11/2016).
Freddy explained that in addition to being used to meet the energy needs for the operation of the plant, the electricity generated by Asian Agri’s Biogas can also be used to meet the electricity needs of the community around the plant.
To build the Biogas plant, Asian Agri has invested US$4.7 million. Thus far, Asian Agri has built 5 biogas power stations in Riau, Jambi and North Sumatra, each of which is capable of producing 2 MW of electricity.
For its operational needs, the plant requires approximately 700 Kilo Watt (KW) of electricity; thus, there is an excess of electricity (excess power) of 1.3 MW.
`If a modest home requires 900 watts, then Asian Agri’s excess electricity can be used by more than 7,000 homes, which means that many of the electricity needs of homes can be supported by Asian Agri’s biogas plant,` he concluded.
Asian Agri targets building up to 20 biogas power stations by the year 2020.

Author
: Pramdia Arhando Julianto

Editor
: M Fajar Marta

http://bisniskeuangan.kompas.com/read/2016/11/15/220203426/asian.agri.manfaatkan.limbah.industri.sawit.jadi.biogas.untuk.pltbg

U.S. dollar rises on upbeat economic data

16

Nov

U.S. dollar rises on upbeat economic data

The U.S. Department of Commerce announced on Tuesday that the advance estimate of U.S. retail sales for October rose 0.8 percent month-on-month to [...]

U.S. dollar rises on upbeat economic data. The U.S. Department of Commerce announced on Tuesday that the advance estimate of U.S. retail sales for October rose 0.8 percent month-on-month to 465.9 billion U.S. dollars, beating market consensus of a 0.6 percent increase.The upbeat sales data fanned market speculation for a rate hike later this year.The U.S. dollar index, which measures the greenback against six major currencies, edged up 0.09 percent to 100.200 in late trading.The greenback has been rising for five straight sessions as U.S. President-elect Donald Trump's potential economic policies have heightened market expectations for further interest rate hikes.Analysts said that Trump's increased possibilities of tax cuts and a series of generally pro-growth policies, aided and abetted by a Republican sweep of both houses of the U.S. Congress, have lifted market speculation of rekindling inflation and more rate increases down the road.In late New York trading, the euro fell to 1.0720 U.S. dollar from 1.0729 U.S. dollars, and the British pound decreased to 1.2440 U.S. dollars from 1.2491 U.S. dollars. The Australian dollar rose to 0.7545 U.S. dollar from 0.7540 U.S. dollar.The U.S. dollar bought 109.13 Japanese yen, higher than 108.42 yen of the previous session. The U.S. dollar was up slightly to 1.0021 Swiss francs from 0.9985 Swiss franc, and it decreased to 1.3468 Canadian dollars from 1.3560 Canadian dollars, Xinhua reported.  (UU.A026)
Editor: Ruslan Burhani
http://www.antaranews.com/berita/596422/dolar-as-menguat-didukung-data-ekonomi-positif?utm_source=topnews&utm_medium=home&utm_campaign=news
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Oil prices rise on hopes of OPEC output deal

16

Nov

Oil prices rise on hopes of OPEC output deal

OPEC countries have started diplomatic talks to agree on details of a landmark deal to rein in their crude output, media reports said Tuesday, with [...]

Oil prices rise on hopes of OPEC output deal. OPEC countries have started diplomatic talks to agree on details of a landmark deal to rein in their crude output, media reports said Tuesday, with Qatar, Algeria and Venezuela spearheading the efforts. OPEC reached a deal in September to cap oil production at a policy meeting later this month, the first such agreement to cut output since 2008.  The output quotas for individual OPEC members are to be set at the cartel's next meeting on November 30 in Vienna, Austria. The U.S. benchmark, light sweet crude or West Texas Intermediate (WTI) for December delivery, jumped 2.49 U.S. dollars to settle at 45.81 dollars a barrel on the New York Mercantile Exchange.  Meanwhile, the global benchmark, Brent North Sea crude for January delivery, increased by 2.52 dollars to close at 46.95 dollars a barrel on the London ICE Futures Exchange, Xinhua reported. (UU.A026)
Editor: Ruslan Burhani
http://www.antaranews.com/berita/596424/harga-minyak-bangkit-didukung-harapan-kesepakatan-produksi-opec?utm_source=topnews&utm_medium=home&utm_campaign=news

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