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☆ Indonesia President Not Meddling With Election, Backs Prabowo for Continuity - Loyalist
▼ + stars: | 2024-02-08 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +3 min

If so, there must be something wrong with the appointment process," Luhut told CNN Indonesia. CONTINUITY CANDIDATEAsked why Jokowi supported Prabowo, Luhut said the president believed he was the candidate to advance his economic policies, such as creating downstream industries to process natural resources following its successful implementation on nickel. "It has nothing to do with his son being on the ticket," he said of Jokowi backing Prabowo. Luhut praised Prabowo, who was accused of - but denies - committing human rights violations in the 1990s while special forces commander. I never doubted his sense of nationalism, I never doubted his consistency and I never doubted his love for this republic," Luhut said.

Persons: Joko Widodo, Luhut Pandjaitan, Prabowo Subianto, Jokowi, Luhut, Jokowi's, Prabowo, Anies Baswedan, Fransiska Nangoy, Martin Petty Organizations: Constitutional, CNN Indonesia Locations: JAKARTA

☆ Indonesia launches China-backed 'Whoosh' high-speed railway
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

Indonesia's President Joko Widodo speaks about the planned new capital Nusantara, at Ecosperity Week in Singapore June 7, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsJAKARTA, Oct 2 (Reuters) - Indonesian President Joko Widodo on Monday inaugurated a $7.3 billion high-speed railway connecting the country's capital with the city of Bandung, a China-backed project that has been marred with problems. Monday's launch for the bullet train named "Whoosh" is far behind an original target of operations in 2019. "The name is inspired by the sound of a rushing high speed train," Jokowi, as the president is popularly called, said during the launch. Reporting by Yuddy Cahya Budiman; Writing by Ananda Teresia; Editing by Gayatri Suroyo and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Joko Widodo, Edgar Su, Jokowi, Luhut, Yuddy Cahya, Ananda Teresia, Gayatri Suroyo, Gerry Doyle Organizations: Nusantara, REUTERS, Rights, Initiative, Thomson Locations: Singapore, Rights JAKARTA, Bandung, China, Indonesian

☆ Indonesia's president launches carbon emissions credit trading
▼ + stars: | 2023-09-26 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +3 min

Indonesia's President Joko Widodo speaks about the planned new capital Nusantara, at Ecosperity Week in Singapore June 7, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsJAKARTA, Sept 26 (Reuters) - Indonesian President Joko Widodo on Tuesday launched the country's first carbon emission credit trading, with the aim of creating a market to fund cuts in greenhouse gas emissions and become a major participant in the global carbon trade. Jokowi, as the president is popularly known, said Indonesia has tremendous potential for carbon reduction efforts, particularly nature-based solutions, and its carbon market could grow to 3,000 trillion rupiah ($194.30 billion). Some of Indonesia's biggest coal power plants have begun trading emission allowances since February. Transactions in the emission trading system are recorded using blockchain technology, Luhut said.

Persons: Joko Widodo, Edgar Su, Jokowi, Luhut, Stefanno Sulaiman, Gayatri Suroyo, Martin Petty Organizations: Nusantara, REUTERS, Rights, Tuesday, Pertamina, Indonesia Stock Exchange, Bank Central Asia, Bank, Christian, Thomson Locations: Singapore, Rights JAKARTA, Indonesia, North Sulawesi, Paris

☆ Indonesia proposes critical minerals trade deal with US
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Indonesian President Joko Widodo and U.S. Vice President Kamala Harris ride on an escalator during the 43rd ASEAN Summit in Jakarta, Indonesia, September 6, 2023. REUTERS/Willy Kurniawan/Pool Acquire Licensing RightsJAKARTA, Sept 7 (Reuters) - Indonesia has asked the United States to begin talks on a trade deal for critical minerals so that exports from the Southeast Asian country can be covered under the U.S. Inflation Reduction Act, an Indonesian ministry said on Thursday. Indonesia does not have a free trade agreement with the United States, but the resource-rich country has ambitions to become a major player in the manufacturing of EVs and their batteries, leveraging its vast nickel reserves. "Indonesia invites the U.S. to discuss the formation of the Critical Mineral Agreement," Jokowi added. Harris, during the opening speech of the bilateral meeting, said she would continue to work with Indonesia to build supply chains that included "critical minerals required to expand our clean energy economies" and to boost trade between the two countries through IPEF.

Persons: Joko Widodo, Kamala Harris, Willy Kurniawan, EVs, Jokowi, Luhut Pandjaitan, Harris, Gayatri Suroyo, Kanupriya Kapoor Organizations: ASEAN Summit, REUTERS, Rights, U.S, Association of Southeast Asian Nations, ASEAN, Economic, EV, IPEF, Thomson Locations: Jakarta, Indonesia, Rights JAKARTA, United States, Washington, North America, U.S, Indonesian, Japan

Nickel is a central component of the transition away from fossil fuels, making access to Indonesia’s stocks an objective of greatest urgency. “It’s frustrating.”Money and PowerAt 76, Mr. Luhut remains wiry, spry and prone to nationalist pique. He vehemently rejects the notion that Indonesia — a country of nearly 280 million people — must pick a side or imperil its business with the United States. The animosity between the United States and China was not the only issue causing him angst. Since the ban was introduced in 2014, Indonesia’s exports of nickel products have multiplied more than tenfold, exceeding $30 billion last year, according to government data.

Persons: Biden, ”, “, spry Organizations: National Security Council, Everything, European Union Locations: Jakarta, America, Indonesia, United States, China

☆ Indonesia plans incentives for EV makers, sets up meeting with BYD, Tesla
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

Indonesia, the largest economy in Southeast Asia, has been trying to attract EV makers to invest in the country, enticing them with its rich nickel reserves - the world's biggest - which can be processed into EV batteries. However, some automakers like China's BYD have instead chosen to invest in Thailand, the region's automotive hub. "Tomorrow we are going to finalise incentives that we are going to give to any EV investment in Indonesia," Luhut said, adding they were awaiting President Joko Widodo's approval. Indonesia has been wooing Tesla for years, hoping to host an Asian production hub for the American EV maker. Tesla has been in talks with Indian officials for an investment in an EV factory there.

Persons: Pandjaitan, Luhut, Joko Widodo's, Elon Musk, Tesla, Ananda Teresia, Gayatri Suroyo, Kanupriya Kapoor Organizations: CNBC Indonesia, Maritime Affairs, Natural, EV, Thomson Locations: JAKARTA, Indonesia, Thailand, Vietnam, Southeast Asia, China's, Chengdu, California, United States, American

☆ From mineral resources to hydropower, Indonesia minister highlights investment opportunities
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrom mineral resources to hydropower, Indonesia minister highlights investment opportunitiesIndonesia's Coordinating Minister for Maritime Affairs and Investments Luhut Binsar Pandjaitan tells CNBC's JP Ong why investors should put money into his country, and outlines opportunities from renewable energy to mineral resources such as nickel, copper and cobalt.

Persons: CNBC's JP Ong Organizations: Maritime Affairs, Investments Locations: Indonesia

☆ Indonesia to propose limited free trade deal with US on critical minerals
▼ + stars: | 2023-04-10 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

Slideshow ( 2 images )JAKARTA (Reuters) - Indonesia will propose a free trade agreement for some minerals shipped to the United States so that companies in the electric vehicle battery supply chain operating in the country can benefit from U.S. tax credits, a senior minister said on Monday. Washington has issued a new guidance for EV tax credits under the Inflation Reduction Act (IRA), requiring a certain value of battery components to be produced or assembled in North America or a free trade partner. Indonesia does not have a free trade agreement with the United States, but its nickel products have increasingly become important in the battery supply chain. Asked about the new IRA guidelines, Indonesian minister Luhut Pandjaitan, who has been spearheading efforts to attract U.S. companies, told a news conference Jakarta will propose a limited free trade agreement (FTA) with Washington. “It’s the same in essence, that for critical minerals there will be free trade with requirements on processing, such as for nickel, aluminium, cobalt, copper,” he said.

☆ Indonesia to provide incentives to boost EV sales starting March 20 - official
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, March 6 (Reuters) - Indonesia will provide incentives to boost sales of electric vehicles (EVs) starting March 20 as part of efforts to accelerate adoption and attract investment into production, senior cabinet minister Luhut Pandjaitan said on Monday. The programme will cover sales of 200,000 electric motorbikes and 35,900 electric cars, said Industry Minister Agus Gumiwang Kartasasmita. Officials have been trying to attract investment from electric car makers such as the United States' Tesla and China's BYD Auto. South Korea's LG and Hyundai have started construction on plants to assemble batteries and electric cars in the Southeast Asian country. "We believe with this programme, (auto companies) would be more attracted," Agus said, adding that companies eligible to join the programme are required to have a plant in Indonesia.

☆ Indonesia to suspend some palm oil export permits - officials
▼ + stars: | 2023-02-06 | by ( Bernadette Christina | ) www.reuters.com time to read: +3 min

Summary Cooking oil prices up ahead of Islamic festivalsPalm oil export quotas linked to domestic salesExporters accumulated export quotas last year - ministerTwo-thirds of existing quotas suspended till May 1 - officialJAKARTA, Feb 6 (Reuters) - Indonesia will suspend some palm oil export permits to secure domestic supply amid rising cooking oil prices ahead of upcoming Islamic festivals, senior cabinet minister Luhut Pandjaitan said on his official Instagram account on Monday. Indonesia issues export permits for palm oil companies that have already sold a proportion of their products to the domestic market, under a policy known as "Domestic Market Obligation" (DMO). Sahat Sinaga, chair of the Indonesia Palm Oil Board, said companies have been holding back exports, due to lower global market prices and high export levies. Malaysian benchmark palm oil prices have fallen more than 40% since reaching a peak last year. Rattling global edible oil markets, Indonesia last year banned exports of palm oil used in everything from margarine to cosmetics and fuel for three weeks due to soaring cooking oil prices.

☆ Indonesia close to EV deals with BYD Group and Tesla - minister
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Jan 17 (Reuters) - Indonesia is finalising agreements with China's automaker BYD Group and U.S. carmaker Tesla (TSLA.O) to invest in electric vehicle (EV) production facilities in the Southeast Asian country, a senior cabinet minister said on Tuesday. Indonesia is aggressively promoting investment into batteries and EVs at home to take advantage of its rich nickel resources. BYD Group, the number one in the world, Tesla, the number two, Hyundai and so on, they are all finalising deals with Indonesia," coordinating minister Luhut Pandjaitan said in a meeting with provincial governments. BYD Group and Tesla did not immediately respond to requests for comment. SGMW Motor Indonesia, part of a joint venture of SAIC Motor Corp Ltd, General Motors Co (GM.N) and Wuling Motors Holdings (0305.HK), has built assembly facilities in Indonesia.

☆ Indonesia says investment talks with Tesla still ongoing
▼ + stars: | 2023-01-12 | by ( Bernadette Christina | ) www.reuters.com time to read: +3 min

Luhut Pandjaitan, who has been leading the talks with Tesla, declined to disclose further details, citing a non-disclosure agreement. Bloomberg News also reported that the Indonesia talks include plans for production facilities and to facilitate the company's supply chain, citing people familiar with the matter. "I can't comment, we're still talking," Luhut told Reuters, adding that he had just recently held another round of talks with Tesla. Tesla currently makes its electric cars in China's Shanghai, Germany's Berlin, and Austin and Fremont in the United States. Indonesian authorities have said Japanese firms Toyota Motor Corp (7203.T) and Mitsubishi Motors Corp (7211.T) have pledged investments in EV production.

☆ Russian President Vladimir Putin will not attend G-20 summit in Indonesia
▼ + stars: | 2022-11-10 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

JAKARTA, Indonesia — Russian President Vladimir Putin will not attend the Group of 20 summit in Indonesia next week, an Indonesian government official said Thursday, avoiding a possible confrontation with the United States and its allies over his war in Ukraine. U.S. President Joe Biden, Chinese President Xi Jinping and other world leaders are to attend the two-day summit in Bali that starts Nov. 15. Luhut Binsar Pandjaitan, the Chief of Support for G-20 events told reporters in Denpasar, Indonesia, that Russia’s Foreign Minister Sergey Lavrov will lead the Russian delegation. Biden will attend ASEAN and the G-20 while Vice President Kamala Harris will travel to APEC. Putin’s decision not to attend the G-20 comes as Russia’s forces in Ukraine have suffered significant setbacks.

☆ Putin won't attend the G20 in person, sending his foreign minister instead
▼ + stars: | 2022-11-10 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +2 min

Putin said he won't go to the G20 in person, though he may give a speech by video, officials said. Foreign Minister Sergei Lavrov will lead the Russian delegation in Bali, Russia said. While Foreign Minister Sergei Lavrov will lead the Russian delegation in person, Putin may give a speech by video at the event being held in Bali later this month, state-owned news agency TASS reported. Unlike Russia, Ukraine is not a member of the G20 group of nations, but has been invited by host nation Indonesia. Zelenskyy later said that he will attend the summit, likely via video link-up, Ukrainian state broadcaster Suspilne reported on Tuesday.

Indonesia's Coordinating Minister of Maritime Affairs and Investment Luhut Pandjaitan, talks during an interview at his office in Jakarta, Indonesia, October 24, 2022. Register now for FREE unlimited access to Reuters.com RegisterIndonesia is the world's biggest exporter of thermal coal, palm oil, refined tin and a major seller of nickel-based steel, copper, rubber and other resources. The government banned exports of nickel ore in 2020 in a move that has attracted investment in processing facilities - a strategy officials refer to as "resource downstreaming". Maybe by 2024, I think we can reach $300 billion or more," Luhut told Reuters. The European Union has complained to the World Trade Organization about Indonesia's nickel ore export ban and a dispute panel is due to announce a report this quarter.

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