0 Obama to face Syria scrutiny in Jordan

A day after challenging Israelis to embrace peace with Palestinians, US President Barack Obama Friday will face scrutiny over his strategy on Syria during an overnight stay in Jordan. Obama will fly to Amman for talks and a private dinner with King Abdullah II, after wrapping up the first visit to the Jewish state of his presidency by paying homage to Israeli heroes Theodor Herzl and Yitzhak Rabin. While the thrust of his visit to Israel was reassurance that the United States would mount an "eternal" defense of the Jewish state amid the Iranian nuclear threat, Obama will turn to the agony of Syria's civil war in Jordan. 

Jordan is sheltering nearly 436,000 Syrian refugees, a figure expected to rise to 700,000 by the end of this year, as people fleeing vicious sectarian fighting between Bashar al-Assad's forces and rebel groups spill over its borders. Obama has resisted pouring US arms or ammunition into the conflict, which the UN estimates has taken at least 70,000 lives, but has offered logistical support to rebels and hundreds of millions of dollars in humanitarian aid. Obama will also support political reform efforts inside Jordan, which has been an oasis of relative calm in a region swept by turmoil following the Arab Spring uprisings. 

A senior US official said Obama wanted to coordinate with the king on security challenges and on helping Jordan alleviate the refugee crisis. "We're providing a lot of assistance to support Jordan and international organizations that are supporting the refugee population inside of Jordan," the official said. "We're also working very closely with the Jordanian government as part of the coalition of countries that is supporting the Syrian opposition to pressure the regime, to build up the opposition, and try to bring about a new Syria." 

Obama warned during his trip that Washington was investigating claims that chemical weapons have been used during the Syria conflict and warned it would be a "gamechanger" that could spark international intervention if they were fired off by the Assad regime. The US leader will wrap up his three-day visit to Israel on Friday by paying homage to Herzl, considered the father of modern Zionism. He will also visit the grave of assassinated Israeli prime minister Rabin. After a final short hop to the Church of the Nativity in Bethlehem on the West Bank, which Christians revere as the birthplace of Christ, Obama will fly out of Tel Aviv aboard Air Force One. 

In a powerful direct appeal to Israelis on Thursday, Obama insisted that a two-state peace with the Palestinians could still be forged and is their only hope of true security. "You can be the generation that permanently secures the Zionist dream," Obama said in a soaring speech, warning that a two-state solution was the only way to ensure Israel remained a Jewish state amid changing demographics. Obama urged his young Israeli audience to "look at the world through (Palestinian) eyes." During a subsequent state dinner at his Jerusalem residence, President Shimon Peres told his guest that he was "moved by the way in which you spoke to the hearts of the young Israelis." 

Palestinian president Mahmud Abbas was also pleased with the address, a senior Palestinian official said. "President Abbas welcomed President Obama's speech in Jerusalem saying that achieving peace and the option of two states on the 1967 borders are the way to bring security for the Israeli and Palestinian peoples," peace negotiator Saeb Erakat told AFP. Earlier, Obama's edgy news conference with Abbas in Ramallah reflected Palestinian disappointment with his failure to live up to first-term vows to help forge a Palestinian state. 

The frosty atmosphere lacked the bonhomie of his bonding session with Israeli Prime Minister Benjamin Netanyahu on Wednesday, as the two leaders, both starting new terms, sought to prove their prickly relationship was a thing of the past. In Ramallah, Obama condemned the "continuing threat" of attacks from the Hamas-run Gaza Strip after two rockets hit southern Israel, near the town of Sderot. The Salafist Aknaf Bayt al-Maqdis group claimed the attack in a statement that condemned Obama's visit to the region. 

In front of Abbas, Obama said that the two-state solution was still a possibility, despite claims that Israeli settlement building had crushed Palestinian dreams of a contiguous state. Although he singled out Israeli settlements on land the Palestinians see as part of their future state as a major impediment to reviving peace talks, Obama did not call for a new construction ban. In private talks with Obama, Abbas said that a freeze was a must, according to his political adviser Nimr Hammad.

AFP
source : the jakarta globe

0 BP says to return $8 bn to shareholders

British energy giant BP on Friday said it would return up to $8.0 billion (6.2 billion euros) to company shareholders by repurchasing shares, a day after completing the sale of its stake in a Russian joint-venture. "BP announced today that it intends to carry out a share repurchase, or buy-back, programme with a total value of up to $8 billion," the group said in a statement. 

It added: "Today's decision to buy back shares follows the completion yesterday of the sale of BP's 50 percent interest in TNK-BP to Rosneft. "The programme is expected to return to BP shareholders an amount equivalent to the value of the company's original investment in TNK-BP." Russian state oil giant Rosneft on Thursday announced the creation of the world's top listed oil firm as it sealed a $56-billion acquisition of the British and local stakes in the lucrative but strife-torn joint venture TNK-BP .

AFP
source : the jakarta globe

0 Rupiah Set for Longest Losing Streak Since November on Outflows

Indonesia’s rupiah was poised for a third weekly decline, the longest losing streak since November, as global funds sold the nation’s assets on concern inflation will accelerate and the fiscal deficit will widen. The currency traded near a seven-week low as the benchmark equity index dropped. Overseas investors have cut Rp 2.1 trillion  ($216 million) from their sovereign debt holdings from a record 284.9 trillion on March 14, according to finance ministry data, The 2013 budget shortfall may exceed 2 percent of gross domestic product due to high subsidy costs, exceeding the 1.65 percent target, Finance Minister Agus Martowardojo said on March 19. 

“The rupiah’s weakening is driven by negative sentiment on Indonesia,” said Fahrudin Haris Prastowo, a foreign-exchange trader at Bank Rakyat Indonesia in Jakarta.  “Inflation will likely accelerate and the budget deficit is still burdened by subsidies, which is causing concern among foreign investors.” The currency declined 0.5 percent this week to 9,757 per dollar as of 9:08 a.m. in Jakarta, the biggest drop since the five days ended Feb. 1, according to prices from local banks. It fell 0.3 percent on Friday and touched 9,770 earlier, the weakest level since Feb. 4. One-month non-deliverable forwards dropped 0.6 percent this week and 0.1 percent today to 9,798, a 0.4 percent discount to the spot rate, data compiled by Bloomberg show.                        

Yield Curve
A daily fixing used to settle the derivatives was set at 9,730 per dollar on Thursday by the Association of Banks in Singapore, compared with 9,733 the previous day. The rate is published at 11:30 a.m. in the city-state each day.     One-month implied volatility, a measure of expected moves in the exchange rate used to price options, lost 22 basis points, or 0.22 percentage point, to 5.96 percent this week. It rose five basis points today.  Overseas investors sold $65 million more Indonesian shares than they bought this week, exchange data show. 

The Jakarta Composite index fell 0.4 percent, adding to last week’s 1.1 percent decline.     The government’s priority is to limit subsidized-fuel usage and increasing prices isn’t the emphasis, Finance Minister Martowardojo said in Jakarta on Thursday. Consumer prices gained 5.31 percent in February, the most in 20 months.  The difference in yield between two- and 10-year bonds widened six basis points this week to 118 basis points, the biggest gap since June. Longer-maturity notes are more sensitive to inflation expectations. The yield on the 5.625 percent securities due May 2023 was at 5.48 percent, the highest level since Nov. 12, prices from the Inter Dealer Market Association show.

Bloomberg
source : the jakarta globe

0 Cyprus MPs study bailout 'Plan B' as meltdown looms

Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders. Cypriot politicians have until Monday to approve a "Plan B" bailout deal with the European Union and International Monetary Fund or face being choked from the ECB funds, which would likely cause teetering banks to collapse. There was also intense pressure for a deal from the EU. 

One source warned that Cyprus risked expulsion from the eurozone if parliament failed to approve a workable plan to restructure its outsized banking sector by Tuesday. But MPs adjourned an emergency session late Thursday without voting on the first two bills in a package of draft legislation the government has drawn up as part of its revised plan. They said they needed more time to study the plans to set up a "national solidarity fund" and impose capital controls to prevent a run on the banks when they reopen on Tuesday after more than a week. 

The new solidarity scheme would nationalise pension funds, with bonds issued against future natural gas revenues. The second bill would "impose temporary restrictive measures on the movement of capital". Central bank chief Panicos Demetriades said legislation had also been drafted on reorganising the Cypriot banking system. "This consolidation process will prevent the risk of bank failures and protect in their entirety all insured deposits up to the amount of 100,000 euros ($129,000)," he said as he entered the presidential palace for emergency talks with the cabinet. 

Lawmakers on Tuesday rejected a highly unpopular measure, which would have slapped a one-time levy of up to 9.9 percent on bank deposits as a condition for the loan. That forced the government to redraw a plan to resolve the chaos unleashed by an initial scheme to tax bank accounts by 5.8 billion euros ($7.47 billion) to complement 10 billion euros in eurozone and IMF loans between now and 2016. Speaker of parliament Yiannakis Omirou insisted a revised levy on bank deposits was not on the table, a move seen as placating Russians who are believed to have more than $30 billion in private and corporate cash in Cyprus banks. 

Around 200 people protested outside the legislature, mostly employees of the Laiki or Cyprus Popular Bank, which is in the eye of the storm. As the government urged people not to panic, Popular Bank announced a limit on withdrawals of 260 euros a day because of a "high demand for cash" from its ATMs, under siege by customers drawing their daily limits of up to 700 euros. Without the legislation the island's second largest bank faced the threat of immediate bankruptcy, said the central bank chief. 

"With the establishment and enactment of the above legislative framework, consolidation measures will be implemented at Popular Bank, in order for it to be able to continue to provide banking services to customers, with the reopening of banks on Tuesday," said Demetriades. Acting leader of the ruling Disy party Averof Neophytou said restructuring Popular Bank would provide 100-percent protection for 361,000 out of 379,000 account holders. 

The remainder would not enjoy full protection because they exceeded the 100,000-euro limit for deposit insurance. He added that restructuring the banks would also cut their recapitalisation needs, meaning the sum Cyprus needs to raise from its own resources in return for a 10-billion-euro bailout would be reduced from 5.8 billion euros to 3.5 billion. The troika of lenders -- the EU, ECB and International Monetary Fund -- agreed to the 10-billion-euro bailout on Saturday provided Cyprus came up with the rest. The chairman of the Eurogroup of finance ministers, Jeroen Dijsselbloem, said currency partners were willing to work with Nicosia on its new plans. 

"The Eurogroup stands ready to discuss with the Cypriot authorities a draft new proposal, which it expects the Cyprus authorities to present as rapidly as possible," Dijsselbloem said after a two-hour conference call with fellow ministers. One EU source, speaking on condition of anonymity, underlined that Nicosia had "until Tuesday" to broker a solid deal -- suggesting Cyprus might otherwise find itself kicked out of the eurozone. In comments published Friday in Germany's daily newspaper Bild, German Finance Minister Wolfgang Schaeuble warned Cyprus: "Cosmetic changes alone are not enough." 

The authorities there had to "make serious savings", he added. In Moscow, Prime Minister Dmitry Medvedev condemned the European proposals to solve the Cyprus crisis as "absolutely absurd," further raising tension between Russia and the European Union. Stock markets in Tokyo, Hong Kong and Shanghai opened down Friday in the shadow of the Cyprus banking crisis.

AFP
source : the jakarta globe

0 Pleasure in heaven and earth

About 1,000 meters above sea level, Josep Punti passes chocolate bread and Catalan white wine to each of his 11 guests. “Salut!” everybody on board, with glimmering faces, exclaims as they toast. The ritual marks the apex — literally — of the one-hour gas balloon flight over Sallent, some 70 kilometers north of Barcelona. Every bite of the bread and sip of Cava, or Spanish sparkling wine, help passengers stave off the chilling morning breeze. 

The temperature on the ground measures 5 degrees Celsius at the end of winter, regardless of the sunlight. For those who are afraid of heights, wine is a remedy, at least according to Chris, a Liverpool native, who, like other passengers, joined the flying adventure for the first time. “I don’t feel comfortable with high altitudes, but the wine helps me feel relaxed. We should have the wine before the flight,” he says. For Pep, however, the wine is just a trademark of his company, Aircat. 

“Other companies serve the wine after the flight, which is just ordinary. I want something different,” he says. But even without the fear killer called wine, one would and should be in a state of bliss observing the mosaic of green forest and vineyard, reddish countryside houses and auburn chapels from the sky. Far to the south, multi-peaked Montserrat Mountain is crystal clear, while to the north the partially snow-covered Pyrenees stands tall. It takes Pep and his two friends about half an hour to prepare everything before the balloon can take off. 

First, they slide the passenger cargo off their van and place it in the middle of the launch site, which is actually a small square just near a housing complex.  Then they roll out the 200-kilogram balloon and fill the giant yellow, smiley balloon with hydrogen gas.The basket, made of wood with iron handlebars, can carry 12 people, including the pilot. The passengers are divided into two “cabins”. They are separated from the “cockpit”, where Pep, sandwiched by two gas cylinders, directs the airship. 

Before takeoff, Pep briefs all the passengers about the safety rules, which includes the prohibition of intruding into the cockpit. But no safety equipment is available during the flight, except for Pep’s mastery in piloting the balloon. He holds a certificate recognized in Europe. Indeed, safety is an issue of great importance, particularly as the trip took place just weeks after a hot air balloon exploded over Luxor in Egypt. Its 21 foreign passengers and operators plummeted about 300 meters to the ground, leaving 19 of them dead. 

Pep says he has been running the business for 13 years with no accidents. Aircat operates six balloons and at least one of them flies every weekend. Each passenger pays ¤150 (US$195) per trip. “Only strong winds and rain can prevent our balloons from flying,” he says. Pep always tries to keep his guests calm, turning their fright into delight. During the flight he takes questions and gives answers while his right hand frequently pulls the gas-filling kits to keep the balloon afloat. 

His responsibility does not stop at ensuring the safety of his guests. Using his camera, he takes pictures of his passengers. The results? Although he is definitely not a pro, the pictures please everybody, thanks to the angles he chooses. The soft landing on a post-harvested vineyard a few kilometers away from the launch pad does not mark an end to the attraction. Pep guides his guests to a restaurant for a brunch, which is part of his tour package. Traditional Catalan cuisine, which includes bread smeared with tomato and olive oil, sausages and fried eggs plus red wine, is perhaps best saved for last. Salute!

source : the jakarta post

0 Causes Unclear in Fatal Papua Clashes

Six people have died in a clash between two ethnic groups that started on Friday around Freeport Indonesia’s Tanggul Tengah mining area in Papua. The conflict occurred around a river bank at Freeport’s Mile 34-35 area, said Freeport head of communications Daisy Primayanti. She said the company believed those participating in the conflict were illegal miners and the dispute centered on access to mining areas. 

“We are saddened by the incident that resulted in six civilians killed. Until now the company’s internal security officers and the police are still working together to monitor the situation to prevent the clash from happening again,” Daisy said on Wednesday. But based on reports by news outlet Gatranews, the cause of the clash between the two Papuan ethnic groups, the Damal and Key clans, remains unclear. 

“Although the situation in the city of Timika was conducive [to peace], people were advised to not go out to the Kwamki Lama area and were advised to remain cautious,” said an anonymous source quoted by Gatranews, referring to the still-tense situation on Sunday. According to one report, two Damal group members from Kwamki Lama went to the area to check on animals traps they had installed. Soon after, 30 people arrived at the scene and accused the men of stealing goods from the Key clan. 

The accusation led to an argument and later the duo were mobbed by their accusers. One of the men escaped the scene and returned with dozens of men from the Kwamki Lama area to help with the dispute. The men who arrived were equipped with weapons, escalating the conflict. But according to a separate report, the incident stemmed from an earlier conflict between the groups over mining locations. The six people killed in the violence have been identified as Fitron, Etimus Mom, Rusli Rizal, Namura, Syamsul and Yosep Watfian. The bodies of Rusli and Etimus were discovered on Saturday at miles 32 and 34, respectively. 

Rusli’s body was discovered with serious arrow wounds. Yosep’s body was found b y Yuli Mangera, a local resident who was doing road construction. Yuli discovered Yosep with an arrow stuck in his body. Yuli reported his discovery to the Kuala Kencana Police who immediately sent a forensic team to the location to identify the body. Papua Police spokesman Sr. Comr I Gede Sumerta Jaya said on Tuesday night that Yosep’s body had been taken to the Mimika regional hospital for an autopsy. 

Some of the victims died after being hit by poison arrows, while others sustained serious blows from blunt objects. Local authorities are still investigating the cause of the clash. A disputed mining area had reportedly been set ablaze by the disputing parties. Freeport’s copper and gold mining areas in Papua have been the backdrop for numerous violent clashes since 2009. In November 2011, eight illegal miners were shot and killed by police for encroaching Freeport’s mining site in Paniai.

source : the jakarta globe

0 JJF punished over coaches' violence

The Japanese Olympic Committee (JOC) said on Tuesday that it has cut funding for the All Japan Judo Federation and ordered it to take preventive measures as punishment for coaches' abusive training of female judokas. The JOC also canceled a US$260,000 annual subsidy for the federation for this year. 

The JOC directive also included a ban on violent coaching, more transparency in team selections and increased hiring of female coaches, the committee said in a statement. The JOC has also established an anonymous reporting system for any violence, harassment or misconduct in sports. A committee of JOC executives and an outside lawyer have concluded after careful review that "serious misconduct had occurred" during judo training, the JOC said in a statement.

source : the jakarta post

0 FIFA 'totally trusts host Brazil'

Despite fears Brazil won't be ready to host the 2014 World Cup, FIFA president Sepp Blatter isn't worried. "Don't be afraid. It's all a question of trust and confidence. From the FIFA side it is totally there," Blatter told reporters on Tuesday after meeting with Brazil's sports minister and FIFA's World Cup organizing committee. 

Persistent delays have raised doubts over Brazil's preparations for hosting the world's biggest sporting event. Brazil has delivered only two of six stadiums so far for the Confederations Cup in June, when the eight-nation tournament will test how matches are staged. Players, officials, fans and media must also be transported around Brazil which FIFA says is more like a continent than a country.

source : the jakarta post

0 Golkar leader says don’t tar party with treasurer’s role in PON scandal

A senior Golkar Party leader says that the actions of party treasurer and lawmaker Setya Novanto in the PON scandal have nothing to do with the party. Sharif Cicip Sutardjo, party deputy chairman and fisheries and maritime affairs minister, said that the public should separate Setya’s public and private actions in scandal surrounding construction of venues last year for the National Games (PON) in Riau. 

“If there’s are legal problems entangling him then it is his personal affair and has nothing to do with his position in the Golkar Party,” Sharif told reporters on Wednesday. However, Cicip said that Setya would be severely punished if the Corruption Eradication Commission (KPK) found evidence that Setya was criminally involved in the case. “We have rules and the sanctions are certain,” Cicip said. 

Setya could be suspended in the same way Riau Governor Rusli Zainal was suspended from the Golkar central board after he was named a suspect in the same case. On Tuesday, KPK investigators raided the offices of Setya and fellow Golkar lawmaker Kahar Muzakir at the House of Representatives’ compound. Setya, who currently leads the Golkar Party’s lawmakers in the House, has been accused of asking an official in Riau, which hosted the games in 2012, for a US$1 million bribe for Golkar lawmakers to approve construction projects for the games. 

The KPK said that the raids were conducted as part of the commission’s investigation of Rusli, the only senior Golkar politician to have been charged in the case. On Tuesday, KPK investigators also raided the private residence of Rusli in Kembangan, West Jakarta. KPK deputy chairman Busyro Muqoddas said on Wednesday that the house might belong to Rusli’s second wife, identified as Syarifah Darmiati, declining to give further details. Shortly after the raid, the Golkar Party central board convened an emergency meeting to discuss the next steps. Senior Golkar politician Agun Gunandjar Sudarsa apparently contradicted Cicip, saying that the party remained solidly behind Setya. 

“Golkar members have a commitment to help each other and work together,” Agun told reporters. KPK spokesman Johan Budi said on Wednesday that investigators found strong indications that Setya and Kahar were involved in the PON graft case. “The places that we raided yesterday bear the traces of corruption from RZ,” Johan said, referring to Rusli. The former head of the Riau Youth and Sports Agency Lukman Abbas previously testified that he gave Rp 9 billion to Setya and Kahar. 

Lukman alleged that both politicians declined to accept the bribe directly, insisting that the money be given to Kahar’s assistant, identified as Acin. “The money was paid to help expedite the disbursement of fund for the Riau PON from the state budget,” Lukman said in his testimony given on Aug. 2, 2012. “The money was given to Acin by two employees of a consortium for the stadium construction,” he added. Lukman received a five-and-a-half year sentence for his role in the case.

source : the jakarta post

0 KUHAP bill will not weaken the antigraft body: Govt

The government said on Wednesday that the bill on Criminal Code procedures (KUHAP) would not curtail the antigraft body’s power to wiretap corruption suspects. Deputy Law and Human Rights Minister Denny Indrayana said the Corruption Eradication Commission (KPK) would be exempted from a clause in the draft KUHAP bill requiring law enforcement bodies to request a court permit before they could carry out wiretaps. 

“The KPK has its own law that is considered lex specialis. It does not have to abide by the KUHAP,” Denny said. The former member of the government-sanctioned task force on judicial corruption denied reports that the draft bill aimed to weaken the antigraft agency. The government finally submitted drafts of the Criminal Code (KUHP) and KUHAP bills to the House of Representatives for deliberation after years of delay. 

The bills will revise the existing KUHP and KUHAP laws, which were made decades ago and widely considered out of date. In the KUHAP, wiretapping is legally forbidden to protect civil rights. Law enforcers are allowed to conduct wiretapping while investigating certain crimes but they must obtain warrants from their superiors and a judge. A judge could issue a permit for wiretapping for 30 days that could be extended for a maximum additional 30 days. The KPK expressed concern about the bill. 

Its spokesman, Johan Budi, said that the bill should clearly stipulate that it did not limit the KPK’s authority to wiretap. “Don’t let the revised KUHAP overlap with another law,” he told reporters at the KPK’s headquarters in South Jakarta on Wednesday. A number of legal experts, however, expressed their concern that the bill, when enacted, would weaken the KPK, which had succeeded in uncovering many graft cases by bugging the telephone conversations of rogue officials. 

Andi Hamzah, criminal law expert from the University of Indonesia, said that even though the KPK had its own law it might still have to comply with the Criminal Code procedures. During an emergency situation, the KPK could notify the court about the wiretapping but it must stop if the court denies it a permit, he said, as quoted by tempo.co, on Wednesday. The KPK’s authority to wiretap has long been the subject of controversy. 

Several lawmakers attempted to strip the commission of this power through a proposed revision to the 2002 KPK Law. The planned revision aimed to end the commission’s prosecution authority, leaving the prosecution of graft cases to the Attorney General’s Office (AGO) and the police. Antigraft watchdogs opposed the move and President Susilo Bambang Yudhoyono made it clear that his administration would revise the KPK Law, and rejected the lawmakers’ proposal.

source : the jakarta post

0 First Lady ‘joins’ chairmanship race

Many regional chapters of the Democratic Party have nominated First Lady Ani Yudhoyono as candidate for the party’s chairmanship, amid intense internal struggle within the party ahead of the party’s extraordinary congress later this month. Democratic Party executives confirmed on Tuesday that many regional party chapters had backed the candidacy of Ani. “There are at least two reasons Bu Ani should be nominated. First, she served as party deputy chairperson in 2004, so she has the capacity. 

Second, local party chapters were impressed by Bu Ani when she accompanied her husband in presidential visits to regions,” the head of the Democratic Party faction at the House of Representatives, Nurhayati Ali Assegaf, said. Nurhayati, however, said that Ani had no intention of running for the party chairmanship. “But the voices of local party chapters should be heard and considered by the President as the chair of the party’s Supreme Assembly,” she said. 

Nurhayati said that Ani would be the perfect candidate to bring the party together after it was rocked by graft allegations. A party patron, Ajeng Ratna Sumilar, meanwhile, said that Yudhoyono had picked at least three candidates that he could endorse for the party chairmanship. Yudhoyono is said to have proposed that the election of the new party chairman should be done through an acclamation and that party members would only endorse his pick. 

Ajeng hinted that Yudhoyono would propose “a senior party member who is highly regarded by party members”. Ajeng, however, denied that the candidate would come from Yudhoyono’s family. “[Yudhoyono] will never propose members of his family,” Ajeng said. When asked if the candidate currently serves as a minister, Ajeng only said, “It’s likely.” 

There are five ministers who are members of the Democratic Party; Cooperatives and Small and Medium Enterprises Minister Syariefuddin Hasan; Law and Human Rights Minister Amir Syamsuddin; Youth and Sports Minister Roy Suryo, Energy and Mineral Resources Minister Jero Wacik and Transportation Minister EE Mangindaan. Among them, only Jero has expressed interest in leading the party. “If ordered [to run for party chairman by Yudhoyono], I must be ready,” he said on Monday. 

Yudhoyono’s pick would likely hurt the candidacy of House of Representatives speaker Marzuki Alie, who has been expected to be a frontrunner following his alliance with the ousted party chairman Anas Urbaningrum. Some party members confirmed that Marzuki and Anas will likely build an alliance ahead of the congress, with Marzuki being asked to push for an amendment to party statutes in exchange for votes from Anas’ supporters. 

Lawmaker Achsanul Qosasi, known to be Marzuki’s supporter in the party chairmanship race 2010 in which Marzuki lost to Anas, called on Yudhoyono to name Marzuki as the sole candidate. “I agree that there would be a high risk of conflict if the upcoming congress is held like a free market. But I would like to ensure that Marzuki has the right to be party chairman now,” he said.

source : the jakarta post

0 Obama sends private letter to new pope

The White House says President Barack Obama has sent a letter to the new pope. Obama sent the letter with the U.S. delegation that traveled to Rome for Pope Francis' installation Tuesday, led by Vice President Joe Biden, the first Roman Catholic to be elected vice president. A senior official with the U.S. Embassy passed the letter on to an official at the Vatican. 

A White House spokesman says the letter is private and wouldn't disclose any details about its contents. Former Cardinal Jorge Bergoglio of Argentina was elected pope last week. Obama said he hopes to work with the pontiff to promote peace, security and dignity for people of all faiths. He said the selection of the first pope from the Americas speaks to the region's strength and vitality.

source : the jakarta post

0 US Open ups prizes to $50M by 2017

U.S. Open tennis organizers plan to increase annual prize money to $50 million by 2017 — nearly double what it was last year — and switch back to a Sunday men's final in 2015, The Associated Press has learned. The tournament also is adding an extra $4.1 million to this year's prize pool, on top of a $4 million jump already announced in December, bringing 2013's payout to $33.6 million. It was $25.5 million in 2012. Those moves, aimed at improving relations with players seeking more say and more money, have been formally presented to the ATP Player Council in Key Biscayne, Florida. 

Details were described to the AP by U.S. Tennis Association officials in telephone interviews after their session with representatives from the men's tour. The USTA planned to announce the changes Wednesday. "Roger Federer said it perhaps best of all: 'It's time for us to work together, as opposed to working against each other,'" USTA Executive Director and Chief Operating Officer Gordon Smith said. Federer, the 17-time major champion, is president of the ATP Player Council. He is not playing in the tournament that begins this week at Key Biscayne, but participated in Tuesday's meeting via telephone. 

Federer joined other top players, including current No. 1 Novak Djokovic, in lobbying the USTA and other Grand Slam tournaments to raise prize money. Asked to describe the nature of the negotiations with players, which began about a year ago, USTA Chairman of the Board and President David Haggerty said: "I wouldn't say necessarily 'pressure.' I would say 'spirited discussions.'" The USTA says it does not plan to pay for the higher prize money with a similar leap in ticket prices. "Frankly, we'll take somewhat of a hit," Smith said, "but it's the right thing to do for the Open and for the players, so we're doing it." 

The distribution of the new prize money — how much will go to the singles champions, for example, or to losers in the early rounds or to doubles teams — hasn't been decided. An announcement is expected closer to the start of the U.S. Open, which runs from Aug. 26 to Sept. 9. The USTA did confirm its commitment to equal paychecks for men and women. But it is not ready to say exactly how prize money will go up between now and 2017, other than that it will increase each year. "We have a good idea, but we are still working on that," Smith said. 

"We've shared our thinking (with the ATP), and I think we're all pretty much on the same page, but we're working out the details." In December, the USTA said it would move the women's singles final to Sunday and the men's final to Monday in 2013, building in a day of rest ahead of each title match for the first time and moving from a 14-day tournament to 15 days. Tournament director David Brewer told the AP that schedule will remain in place in 2014, but the U.S. Open permanently will shift things in 2015: women's semifinals Thursday, men's semifinals Friday, women's final Saturday, men's final Sunday. 

"It's where we all want to be," Brewer said. "They wanted a 14-day event. We wanted a 14-day event. So it's good news." Some top male players complained the U.S. Open had been the sport's only Grand Slam tournament with their semifinals and final on consecutive days. The USTA liked its old "Super Saturday" setup — since 1984, both men's semifinals and the women's final were all on that day's schedule at Flushing Meadows — but Brewer acknowledged it was time to scrap it. "We realize the game has changed and how they play the game is different even than it was 10 years ago," Brewer said. "The format we've had for 30 years was putting players and the tournament in jeopardy at some point."

source : the jakarta post

0 Chinese bowl, $3 at tag sale, sells for $2.2 M

A rare Chinese bowl bought at a tag sale for $3 has sold at a New York City auction for more than $2.22 million. The 1,000-year-old bowl was part of the opening session of Sotheby's fine Chinese ceramics and works of art auction on Tuesday. 

Sotheby's says it was sold to a London dealer for $2.225 million, far above the presale estimate of $200,000 to $300,000. The person who put the bowl up for auction bought it at a tag sale in 2007 and had it displayed in the living room for several years before becoming curious about its origins and having it examined. The bowl is 5 inches (12.5 centimeters), white in color and from the Northern Song Dynasty.

source : the jakarta post

0 Asia stocks mixed after Cyprus vote on bailout

Asian stock markets were mixed Wednesday after Cypriot lawmakers rejected a tax on bank deposits that would have partly funded an emergency bailout to save the Mediterranean country from financial collapse. The vote by Cyprus' parliament Tuesday rejected a plan cobbled together by international lenders to provide the country with 15.8 billion euros ($20.4 billion) to bail out its heavily indebted banks and shore up government finances. 

If it doesn't get the money, the banks could fail, Cyprus' government finances could be ruined for years and the country could face expulsion from the union of 17 countries that use the euro. That's a scenario European policymakers fought to avoid with Greece with its bailouts because of fears it would splinter the currency union. Hong Kong's Hang Seng rose 0.7 percent to 22,198.37. South Korea's Kospi fell 0.4 percent to 1,971.71. Australia's stock market was dragged lower by mining shares. 

The S&P/ASX 200 fell 0.3 percent to 4,972. Benchmarks in Taiwan and Singapore also fell. Mainland Chinese shares rose. Stock markets in Japan were closed for a public holiday. "There seems to be no quick and easy way out of the Cyprus mess and the markets will likely enter a period of considerable uncertainty following rejection by the Cyprus' parliament of the bailout terms offered," analysts at Credit Agricole CIB in Hong Kong said in an email commentary. But strong housing data from the U.S. softened the damage to confidence. 

Government data showed U.S. builders stepping up construction of homes, while a private report showed the number of Americans with equity in their homes increased last year. That suggests one of the biggest drags from the housing crisis is easing. Fears over uncertainty about Cyprus have also been contained by European Central Bank's backstop to euro nations. The ECB said after the vote that it would continue to provide emergency liquidity to Cypriot banks to make sure they do not collapse. 

Stocks were mixed Tuesday after the eurozone's debt woes offset the encouraging housing data. The Dow Jones industrial average rose marginally to 14,455.82. The Standard & Poor's 500 index fell 0.2 percent to 1,548.34. The Nasdaq composite index dropped 0.3 percent to 3,229.10. Benchmark oil for April delivery was up 20 cents to $92.36 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.58 to finish at $92.16 a barrel on the Nymex on Tuesday. In currencies, the euro was nearly unchanged at $1.2874 from $1.2875 late Tuesday in New York. The dollar rose to 94.98 yen from 95.09 yen.

source : the jakarta post

0 Power still out at damaged nuclear plant in Japan

Four fuel storage pools at Japan's tsunami-damaged nuclear plant have been without fresh cooling water for more than 15 hours due to a power outage, but the plant's operator said Tuesday morning it was trying to repair a broken switchboard that might have caused the problem. Tokyo Electric Power Co. said that pool temperatures were well within safe levels at the Fukushima Dai-ichi plant, and that pools would remain safe for at least four days without fresh cooling water. 

The utility was preparing a backup system in case the repairs didn't fix the problem, Masayuki Ono, an official at operator Tokyo Electric Power Co., told reporters. "If worse comes to worst, we have a backup water injection system," said Ono. The command center at the plant suffered a brief power outage before 7 p.m. Monday. Electricity was quickly restored to the command center but not to equipment pumping water into the fuel pools. The utility was investigating the cause of the power outage and believes it might be due to problems with a switchboard, which it is trying to repair. 

At the same time, the company is preparing to connect another switchboard if repairs cannot fix the problem. The temperature in the four pools had risen slightly, but was well below the utility's target control temperature of 65 degrees Celsius, TEPCO said. The fuel pool for Unit 4, which contains spent and new fuel rods, had risen to 30.5 degrees as of 10 a.m. Tuesday from 25 degrees before the power outage. A common pool storing spent fuel for all reactors was at 28.6 degrees, while the Unit 1 pool was at 17.1 degrees and Unit 3 was at 15.9 degrees. 

TEPCO said the reactors were unaffected and no other abnormalities were found. The March 11, 2011, earthquake and tsunami destroyed the plant's power and cooling systems, causing three reactor cores to melt and fuel storage pools to overheat. The plant is now using makeshift systems.

source : the jakarta post

0 ADB Argues Capital Inflows a Risk to East Asia

Capital inflows into emerging East Asia risk flooding the region with cash, creating asset bubbles, as investors seek higher returns from the fast-growing economies, according to the Asian Development Bank. Outstanding local-currency debt in the region rose 12 percent to $6.5 trillion in 2012, and increased foreign participation has reduced yields, the Manila-based lender said in its quarterly Asia Bond Monitor released on Monday. 

Authorities have taken measures to curb inflows, with Taiwan’s central bank telling lawmakers in a Friday report that global “hot money” has overtaken economic fundamentals in determining the direction of Asian currency and stock markets. “These developments might put upward pressure on exchange rates, making exports less competitive,” the ADB said in the report. 

“There are concerns that higher levels of liquidity could lead to excess credit growth, thus fueling asset-price bubbles in the region.” Six of the region’s currencies are among the top 10 performers among emerging markets in the past year, led by advances of 5.8 percent for the Philippine peso. Yuan positions at local lenders accumulated from sales of foreign exchange to the central bank rose a record 684 billion yuan ($110 billion) in January, official data showed March 5. 

The average yield on Asia’s local-currency debt fell 36 basis points in the past year to 3.6 percent on Thursday, according to indexes compiled by HSBC Holdings. A key consideration in managing capital inflows for several of the small and open economies of the region is to have well-developed and liquid government bond markets, the ADB said in its report. Emerging East Asia is classified as China, Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Developing Asian economies will grow 6.6 percent in 2013, bolstered by private consumption and investment, the ADB said in December.

Bloomberg
source : the jakarta globe

0 Slowing Domestic Investment Prompts World Bank to Cut Indonesia's Growth Forecast

The World Bank has cut its growth forecast for Indonesia this year as the pace of domestic investment recedes and pressures on the country’s external balance intensify due to massive fuel imports. The Washington-based lender forecast Indonesia’s economy would expand by 6.2 percent this year, a notch below the previous forecast of 6.3 percent. Next year’s growth projection remains unchanged at 6.5 percent, the World Bank said in its quarterly report on Monday. 

Indonesia’s economy grew by 6.2 percent last year, down from the 6.5 percent expansion recorded in 2011. Indonesia’s economy has grown by more than 6 percent annually for the past three years. “The biggest risk to near-term growth may come from domestic investment,” the World Bank said in the statement. The country’s fixed investment growth declined to 7.3 percent year-on-year in the fourth quarter of 2012, down from 12.5 percent in the second, the World Bank said. Imports of capital goods also weakened by 12.1 percent year-on-year in January 2013, suggesting a moderation of investment. 

“The weaker commodity market conditions, which have been in place since mid-2011, may continue to impact aggregate investment spending with a lag, particularly in capital-intensive resource sectors where investment is lumpy,” the World Bank said. Higher inflation could erode people’s purchasing power and force the nation’s central bank to tighten monetary policy, both of which could put a brake on investment in Indonesia’s domestic consumer sector, the global lender said. 

Inflation accelerated in February to 5.3 percent year-on-year compared to 4.6 percent pace in January. The last time inflation exceeding 5 percent was in June 2011. Bank Indonesia, however, has maintained its benchmark interest rate at a record-low 5.75 percent for 14 straight months. The World Bank also noted that investment “is likely to face some headwinds from ongoing, and possibly further, regulatory uncertainties and political noise as the 2014 elections approach.” 

Such policy uncertainty was most apparent in the country’s mining sector, where the policy environment was ranked as the least attractive among 96 countries, the World Bank said, quoting a recent Fraser Institute survey of global mining executives. The lender estimated that should investment only grow by 5 percent in 2013, about half its pace in 2012, the country’s gross domestic product growth would be reduced by about 1 percentage point. The government has said it expects the economy to grow by 6.5 percent this year, while the central bank has predicted growth of between 6.3 percent and 6.8 percent. 

Chatib Basri, the head of the Investment Coordinating Board (BKPM), and Bambang Brodjonegoro, chief of the fiscal policy office at the Finance Ministry, did not respond to a request for comment on the World Bank report. The World Bank projects the current account deficit to fall to 2.5 percent of GDP in 2013, from 2.7 percent in 2012. The improving global economy is forecast to boost demand for the country’s exports, offsetting energy imports. 

“The oil and gas trade deficit will likely continue to pose a challenge in 2013 amidst strong domestic energy demand, especially if there is not further progress on fuel subsidy reform,” the World Bank said, adding that the fuel subsidy carried an opportunity cost, missed its intended target and distorted energy usage. The government has estimated that subsidized fuel consumption may escalate to between 48 million and 53 million kiloliters this year, more than the 46 million kiloliters set in the state budget. The government spent Rp 211.9 trillion ($21.8 billion) last year to provide cheap fuel below market price. 

This year, the bill could reach beyond Rp 300 trillion, compared to the Rp 216 trillion spending allocated for infrastructure, which according to the World Bank is “inadequate and aging” and “continues to constrain growth, causing bottlenecks and high logistics costs.” The government’s attempt to raise the fuel price failed last year after violent street protests and strong opposition from lawmakers. Suryo Bambang Sulisto, chairman of the Indonesian Chamber of Commerce and Industry (Kadin), expressed support for the World Bank assessment on the fuel issue. 

Suryo said the subsidy money could boost the country’s growth if it were allocated to build infrastructure as well as invest in education, health care and small and medium enterprise development programs. “If the government communicates this well enough there will be no protest if they increase the fuel [price], because there will be a lot of jobs available,” Suryo said. Several economists in Jakarta have long urged the government to raise the subsidized fuel price and shift the funds to finance more productive projects, including boosting the development of infrastructure such as airports, seaports and toll roads. Poor infrastructure has long been blamed for slow growth in Indonesia.

source : the jakarta globe

0 US Citizen Wins Syria Vote for Rebel Premier

Syria's main opposition National Council elected Ghassan Hitto, a communications executive who has lived in the United States for decades, as premier for large swathes of rebel-held territory mired in chaos and poverty. "Ghassan Hitto has won with 35 out of 48 votes," Coalition member Hisham Marwa told reporters in Istanbul, Turkey. The vote came after some 14 hours of closed-door consultations among 70-odd Coalition members, with some members describing Hitto as a consensus candidate pleasing both the opposition's Islamist and liberal factions. 

But other Coalition members withdrew from the consultations before the vote could take place, reflecting divisions within Syria's opposition. When the voting finally took place, a total of 48 Coalition members placed their ballots in a transparent box located at the front of a conference hall in an Istanbul hotel, where the much-awaited meeting took place. "This is a transparent, democratic vote," said Coalition chief Ahmad Moaz al-Khatib. Hitto arrived in the conference hall minutes after the count, and was met with a round of applause as he shook hands with Coalition members.

Agence France-Presse
source : the jakarta globe

0 Orangutans at Kutai National Park attract tourists

Kalimantan orangutans have attracted domestic and foreign tourists visiting Preveb at the Kutai National Park (TNK) in East Kutai District, East Kalimantan. "The number of visitors, especially foreign tourists, increases significantly every year. Most of them are interested to see orangutans," the head of the national park management area I in Sanggata, Kutai Timur District, Hernowo Suprianto, said here on Monday. 

He said Preveb has a total of 25 wild orangutans and a variety of flora and fauna species typical to Kalimantan, including clouded leopard, golden cat, tarantula and many kinds of low tropical rainforest plants. Suprianto said Prevab can be reached by driving a four-wheeled vehicle from Samarinda, capital of East Kalimantan province, to Sangatta, capital of East Kuta district, for nearly six hours. From Sangatta, visitors continue their journey to Kabo Jaya village and then to Prevab by boat for nearly 20 minutes. 

"Most foreign tourists usually spend three nights exploring Prevab forest area, place of wild orangutan sanctuary. But sometimes they cannot find orangutan as this mammal often hides when seeing humans," he said. Data from the Kutai National Park show 750 tourists visited Prevab in 2012, consisting of 540 foreign tourists and 210 domestic tourists. Most of the foreign tourists (126) visited Prevab in August 2012 while most of the domestic tourists (81) visited the area in December, he said. "They not only watched orangutan but also conducted research on some species in the park," Suprianto said. (Uu.S038/S012)

source : antara news