What is the Most Important in Aviation Industry?
The International Air Transport Association (IATA) has called on government institutions, airlines and aviation industry stakeholders to safeguard the development of Indonesia’s commercial airline industry by striving to meet international standards of coordination and safety.
“The key to unlocking the aviation industry’s future potential is a global mind-set that is supported by strong partnerships. Aviation connects people and business to make global expansion possible. Airlines must be profitable, safe and secure,” Tony Tyler, IATA’s director general and CEO said Monday in a statement made available to The Jakarta Post on the sidelines of the IATA 70th annual general meeting and World Air Transport Summit in Doha, Qatar. Continue reading “What is the Most Important in Aviation Industry?” »
Foreign Tourism came to Indonesia is Less than March
Tourism decreased 5.13 percent last April, falling from a March tally of 765,000 to 726,300 foreign arrivals.
The Central Statistics Agency (BPS) head Suryamin said that the decrease reflected recent trends, as Indonesia had for years witnessed a drop off in tourism during the month of April.
“The figure has always dropped from March to April. We hope we can make improvements in the future because tourism benefits the economy,” Suryamin said in Jakarta on Monday, as quoted bykontan.co.id. Continue reading “Foreign Tourism came to Indonesia is Less than March” »
World’s 10th-largest economy behind peers
Business news : from Jakpost
Indonesia’s position as the world’s 10th-largest economy, according to a 2011 report, immediately dims among Southeast Asian peers, such as Malaysia and Thailand, when it comes to gross domestic product (GDP) per capita.
In the 2011 World Bank-affiliated International Comparison Program (ICP) report, Indonesia — the region’s largest country in terms of economy and population — recorded US$2,058 billion in GDP expenditure and $8,539 in GDP expenditure per capita.
Malaysia’s GDP expenditure was only $606 billion but its GDP expenditure per capita was more than two times that of Indonesia, at $20,926, the report said. Meanwhile, Brunei was among five economies with the highest GDP per capita, after Qatar, Macau, Luxembourg and Kuwait.
Continue reading “Based on GDP, Indonesia is one of World’s 10th-largest economy” »
Gazprom get China National Petroleum Corp deals
Russia’s President Vladimir Putin has signed a multi-billion dollar, 30-year gas deal with China.
The deal between Russia’s Gazprom and China National Petroleum Corp (CNPC) has been 10 years in the making.
Russia has been keen to find an alternative energy market for its gas as it faces the possibility of European sanctions over the crisis in Ukraine.
No official price has been given but it is estimated to be worth over $400bn.
President Putin said in a statement to the Russian news channel Rossiya: “The price is satisfactory for both sides. Continue reading “Gazprom get China National Petroleum Corp deals” »
Norway Loses Reputation as Stable Investment
Norway, western Europe’s largest oil producer, is angering a growing number of oil and gas companies after dictating terms for offshore projects worth billions of dollars.
In the latest blow to the nation’s reputation, the opposition bloc last week defied the minority government and decided to force Statoil ASA (STL) and other producers to prepare to power North Sea developments from land, raising costs and potentially delaying the projects. That comes after last year’s surprise tax increase on oil output.
“Twice in a year, the framework for how oil companies operate has been changed,” said Erling Kvadsheim, head of licensing policy at the Norwegian Oil and Gas Association, a lobby group that represents groups such as Statoil, BP Plc (BP/) and Exxon Mobil Corp. (XOM) “This can make projects less profitable, because you have to include political risk in your calculations, and makes marginal projects less attractive.” Continue reading “Norway Loses Reputation as Stable Investment” »
Reverse Mortgages: Take the Longevity View
It’s a reversal in reverse mortgages. And that may mean a boon for boomers.
The reverse mortgage, long a pariah in financial planning circles, lets homeowners tap home equity and defer repayment until they sell, move or pass away. As interest on the loan builds, home equity shrinks. Leading up to the financial crisis, many senior homeowners cashed out big chunks of home equity as lump sums, often to pay other debts. Whether borrowers had the cash flow to afford the home’s ongoing costs — property tax, insurance, maintenance — was another question. By 2010, nearly 10 percent of reverse mortgages were in technical default after falling behind in tax and insurance payments.
The stigma has been so bad that reverse mortgages were left off the financial planning curriculum at Texas Tech University until a few years ago. They graduated to a brief mention as a last resort. Now, strategies for using reverse mortgages in retirement get a full day, says John Salter, assistant professor of financial planning at the university and a planner at wealth management firm Evensky & Katz. Continue reading “Take the Longevity View (Reverse Mortgages)” »
BI: This Month, Interest Rate still 7,5%
Bank Indonesia (BI) has decided to maintain the benchmark interest rateat 7.5 percent, similar to April’s level.
BI has set the rate at this level since November 2013.
The rate was announced in Jakarta on Thursday afternoon by BI Governor Agus Martowardojo after conducting a board of governorsmeeting (RDG).
“We are consistent in maintaining the rate as we want to achieve an inflation rate of 4.5 percent, plus minus one percent,” Agus told the press after the RDG as quoted by kontan.co.id.
The monthly RDG is to evaluate monetary policy that has been carried out as well as to prepare future monetary policies.
Apart from the BI rate, the bank also maintained its lending and deposit facilities at 7.5 percent and 5.75 percent, respectively. (nfo/nvn)
Source : Jakpost
Asian stocks drop, but oil comodity climbs
Asian stocks fell, led by Japanese shares after a two-day holiday, as the yen held gains versus the dollar and emerging-market currencies strengthened. The New Zealand dollar weakened, while nickel and crude oil climbed.
The MSCI Asia Pacific Index slipped 0.8 percent by 10:01 a.m. in Tokyo, as Japan’s Topix index sank 1.8 percent. Standard & Poor’s 500 Index futures fell 0.1 percent after a selloff in Internet stocks sent the gauge down 0.9 percent in the U.S. The yen held yesterday’s 0.5 percent jump as the Korean won and Malaysian ringgit climbed. New Zealand’s dollar fell after the central bank detailed conditions for intervention. Nickel rose and gold advanced as oil in New Yorkadded 0.4 percent.
Continue reading “Asian stocks drop, but oil comodity climbs” »
Venezuela’s Minimum Wage Hike Is No Match for Inflation
Venezuelan President Nicolas Maduro raised his country’s minimum wage by a whopping 30 percent last week, following a 10 percent increase in January.
During a workers’ rally commemorating May Day, Maduro told the crowd the raises were fresh evidence of the success of the country’s socialist revolution. “In the 15 years of the Revolution, we have given, in accordance with our socialist program and constitutional mandate, 25 salary hikes and 25 pension increases,” Maduro said during a nationally televised address.
What Maduro neglected to say was that the increases are necessary to keep pace with the country’s inflation rate, which at 56 percent last year was the highest in the world.
Continue reading “Venezuela’s Minimum Wage Hike Is No Match for Inflation” »
If Stability reached at Libya, Oil Prices migh be cheaper
Now that Libya’s government has wrested control of its ports back from armed rebels, the country is finally starting to export crude oil again. Libya’s oil has essentially been trapped since militias seized its three largest ports last summer in an attempt to grab a share of the country’s oil revenue.
On Tuesday, a ship bound for France began loading as much as 850,000 barrels of crude at Libya’s easternmost port of Hariga. This is the second shipment of oil to be loaded at Hariga in the last two weeks. On April 16, a ship called the Aegean Dignity began loading crude for export for the first time since rebels took over the port last July. In an interview with Bloomberg News at the time, the ship’s manager said that the crew “didn’t see any people with guns or soldiers” at the port trying to interfere. Which is usually good news.
Continue reading “If Stability reached at Libya, Oil Prices migh be cheaper” »