2,800 False Money in Circulation in Bali

Bank Indonesia reported that Bali has seen rising trend of false money circulation within the last five years at 2,800 bills in 2010 compared to 2005 of 1,800 bills. According to BI Chief of Denpasar, Bali, Jefrey Kairupan, the circulation of false money gets higher every year. "Counterfeit money in Bali increases in circulation. If no control is imposed upon it, the Rupiah will gain lower international trust," said Jefrey on Wednesday. Jefrey went on to say that the high distribution of counterfeit money will in turn reduce the public's trust toward the Rupiah. "Our record shows that money counterfeiters have only been sentenced to imprisonment...

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Indonesia Has Enough Energy Supply until 2030

The national energy supply will still be available until 2030. Nonetheless, the dominant energy of coal and gas will be aimed at domestic supply. Around 60-70 percent of Indonesia's coal commodities are exported while the remaining supply is channeled to domestic market. "We mostly import coal, the most inexpensive energy source. Short-term policy on exports is thus required," said member of National Energy Council, Herman Darnel Ibrahim, on Tuesday, April 19. Given the overflowing stock of coal, according to Herman, nuclear energy is not yet necessary. Coal reserves now reach 20 billion tonnes, while potential coal reserves hit 130 billion...

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98 Pct of China-made Food Not Licensed

Indonesian Food and Drugs Monitoring Agency (BPOM) records that only two percent of China-made cosmetics and food products circulating in the country are licensed. BPOM Chief Kustantiah said on Monday, "98 percent of China-made cosmetics and food products are not registered in the BPOM." For the time being, the BPOM plans to persuade Chinese producers register products that are subjects to imports. "Thus, it will be safe for Indonesian consumers to consume [the products]," she said. News Sourc...

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Thousands of Protesters Block Newmont's Mines

Thousands of protesters from various subdistricts of West Sumbawa, West Nusa Tenggara, are trying to block out mining operations at gold and copper mines belonging to PT Newmont Nusa Tenggara Barat on Monday. The protesters were frustated over the decision made by the central government on buying plan of Newmon divestment share. They demanded that the provincial government repurchase the seven percent shares. The West Nusa Tenggara police oversaw the demonstration. However, there was clash between them, injuring five police officers. A tvOne contributor, Herman Zuhdi, had his camera confiscated by the police. "I was surprised," said Herman. Until...

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Aussie Minister Praises Indonesia's Economy

Indonesia's economy, with 234 million people, has been growing strongly and could be in the top 10 globally by 2025, said Australian Trade Minister Craig Emerson. He will be visiting Jakarta this week to hold talks with Indonesian Trade Minister Mari Pangestu. “As the two largest economies in south-east Asia, there is considerable scope for Australia and Indonesia to strengthen and expand their economic relationship,” Emerson said in his statement to VIVAnews on Sunday. According to the Australian Embassy, Emerson is scheduled to visit Jakarta from Tuesday until Wednesday, 19-20 April 2011. This is Emerson’s first visit to the country as...

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World finance chiefs chastise U.S. on budget gap

WASHINGTON (Reuters) – World finance leaders on Saturday chastised the United States for not doing enough to shrink its massive overspending and warned that budget strains in rich nations threaten the global recovery. Finance ministers in Washington for semi-annual talks took sharper aim than in previous years at the United States' $14 trillion debt. While most of the criticism came from emerging market economies, some advanced nations joined the chorus. Dutch Finance Minister Jan Kees de Jager warned that if the United States and other advanced nations move too slowly it could undermine confidence in the global economy. "Insufficient budgetary consolidation may spark off further escalation of debt sustainability issues, with repercussions on confidence and the still fragile financial...

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Earnings stumbles could awaken bears

NEW YORK (Reuters) – Earnings could make for a bumpy ride in U.S. stocks next week if more key companies undershoot expectations, possibly causing a spike in volatility. Disappointments from Alcoa (AA.N) , Google (GOOG.O) and others in the first week of earnings have dampened some of the enthusiasm about results, ensuring that eyes will be glued to reports in the coming days. These include top technology and financial company results, including Yahoo (YHOO.O), Intel (INTC.O), IBM (IBM.N), Texas Instruments (TXN.N), Goldman Sachs (GS.N) and Citigroup (C.N). This blitz of numbers will come during a holiday-shortened week. U.S. financial markets will be closed on April 22nd in observance of Good Friday. Market watchers also will be anxious to hear how much tech companies may have been affected...

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