Susilo Bambang Yudhoyono News
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Indonesia named Chatib Basri finance minister today as the government prepares to raise the price of subsidized fuel and curb a current-account deficit that has hurt the rupiah.
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The death toll from an accident at Freeport-McMoRan Copper & Gold Inc.’s Grasberg mine complex in Indonesia rose to 14 as Chief Executive Officer Richard Adkerson arrived in the country.
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The death toll from an accident at Freeport-McMoRan Copper & Gold Inc.’s mine in Papua province rose to 11 as Chief Executive Officer Richard Adkerson arrived in Indonesia.
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Indonesia’s bonds fell this week, pushing the 10-year yield up by the most since August, and the rupiah declined on speculation the nation’s lack of progress in cutting fuel subsidies will spur outflows.
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Voters in the Philippines appear to have delivered a resounding victory to President Benigno Aquino in midterm elections. The son of former President Corazon Aquino looks set to control both houses of Congress, giving him a mandate to continue his reform policies. His biggest worry now is making them stick.
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Indonesia’s rupiah fell to a four- month low and government bonds declined on speculation uncertainty about the nation’s next finance minister and a plan to cut fuel subsidies is shaking investor confidence.
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Indonesia posted the smallest current-account deficit in a year last quarter, and the Southeast Asian nation’s central bank said capital inflows will help to further narrow the gap and support the rupiah.
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President Susilo Bambang Yudhoyono is poised to swear in a new finance chief as early as tomorrow while his government prepares to set higher subsidized-fuel prices, moving to end policy ambiguity that has hurt investor confidence and the currency.
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President Susilo Bambang Yudhoyono is poised to swear in a new finance chief as early as tomorrow while his government prepares to set higher subsidized-fuel prices, moving to end policy ambiguity that has hurt investor confidence and the currency.
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Unilever, the seller of Lipton tea and Dove shampoo, expects Southeast Asia’s currencies to strengthen further against the U.S. dollar and euro in the next few years as foreign investment boosts economic growth.
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