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Most Asian currencies slip on anxiety over trade talks

MOST Asian currencies inched lower on Tuesday as investors turned a little wary ahead of the next round of trade talks between the United States and China.

Indonesian presidential hopefuls vow energy self-sufficiency via palm oil

JAKARTA: Indonesia’s two presidential candidates pledged to achieve energy self-sufficiency by boosting the use of bioenergy, particularly fuelled by palm oil, to cut costly oil imports by South-East Asia’s biggest economy.

In a televised election debate, President Joko Widodo(left) said if he won a second term the government planned to implement a B100 programme. Agreeing on the importance of bioenergy for self-sufficiency, his opponent Prabowo Subianto(right) said if elected he would also “boost the use of palm oil, palm sugar, cassava and ethanol from sugar (cane)”.

Indonesian presidential hopefuls vow energy self-sufficiency through palm

JAKARTA: Indonesia's two presidential candidates pledged on Sunday to achieve energy self-sufficiency by boosting the use of bioenergy, particularly fuelled by palm oil, to cut costly oil imports by Southeast Asia's biggest economy.

ndonesia's presidential candidate Joko Widodo (L) shakes hands with his opponent Prabowo Subianto after the second debate between presidential candidates ahead of the next general election in Jakarta, Indonesia, Feb 17. - Reuters

Indonesian presidential hopefuls vow energy self-sufficiency through palm

JAKARTA (Reuters) - Indonesia's two presidential candidates pledged on Sunday to achieve energy self-sufficiency by boosting the use of bioenergy, particularly fuelled by palm oil, to cut costly oil imports by Southeast Asia's biggest economy.

BI mulls accumulating global sukuk as syariah buffer

JAKARTA: Bank Indonesia (BI) is weighing the use of sukuk issued by other countries in its monetary operations as demand for syariah-compliant securities surge among lenders in the world’s largest Muslim-majority country.

Indonesia to postpone halal label deadline amid industry concerns

JAKARTA: Indonesia will push back by as much as seven years an October deadline for halal labels on food, drugs and cosmetics, after industry voiced fears the move could bring chaos and threaten supplies of life-saving vaccines and other products.

Top left: A shopkeeper arranges medicines to sell at a wholesale market in Jakarta. Centre: Vendors prepare medicines to sell at a wholesale market in Jakarta. Right: A shopkeeper prepares medicines to sell at a wholesale market in Jakarta. Bottom Left: A worker prepares medicines to sell inside a storeroom at a wholesale market in Jakarta. CENTRE: Vendors stand as they wait for customers inside a stall at a wholesale market for medicines in Jakarta, Indonesia. Right: A shopkeeper arranges snacks to sell at a mini market in Jakarta, Indonesia, February 15, 2019. - REUTERS

Land-burning fines unpaid years after fires

JAKARTA: Indonesian plantation companies fined for burning huge areas of land since 2009 have failed to pay hundreds of millions of dollars in penalties meant to hold them accountable for actions that took a devastating environmental and human toll.

XL Axiata extends rally after expediting 2G assets reduction

JAKARTA: Shares of XL Axiata surge the most since June as the firm is expediting the reduction of its second generation assets, in a hope to lower depreciation charges, improve margins and profitability.

XL Axiata plans to spend 7.5 trillion rupiah in capital expenditure this year, as it will begin the trial of 5G mobile phone technology, the firm says in a statement.

Maybank Indonesia posts record profit

PETALING JAYA: Maybank Indonesia has recorded a new high of 2.2 trillion rupiah (RM635.93mil) in its profit after tax and minority interests (Patami) for the financial year ended Dec 31, 2018.

profit before tax rose 20.5% to a record 3 trillion rupiah (RM867.18mil), its highest achievement to date.

Credit Suisse cuts Indonesia stocks, a move that burned JPMorgan

SINGAPORE: Credit Suisse Group AG has downgraded Indonesia’s equities market to a sell rating, despite the government backlash JPMorgan Chase & Co. received more than two years ago for a similar move.

The bank’s research team now has a bearish call with six reasons why investors should sell the nation’s shares. Those include an overbought rupiah and stock market, a liquidity squeeze and economic growth that may be set for “strong   negative revisions.”