VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

South Korean company-LS Cable & System and Indonesian company -PT Artha Metal Sinergi will build a power cable factory worth $50 million dollars. Through a joint venture scheme, the plant will be built in West Karawang, West Java. Indonesian Ambassador to South Korea, Umar Hadi said that the agreement was signed by  the two companies in the Indonesian Embassy in Seoul on June 18, 2018. To RRI World Service-Voice of Indonesia on Thursday (June 21), Ambassador Umar Hadi explained that the ground breaking will be carried out this year and it is targeted to operate by the end of 2019. With the establishment of this cable plant, it is expected that the target of the government in the distribution of adequate electricity across Indonesia is more easily realized.

“In Indonesia yes, with the construction of such a massive infrastructure across Indonesia, the need for power cables will continue to increase steadily. So if this can be produced in Indonesia, of course it will reduce imports, won’t it! So, this will benefit all parties. Either producers and consumers in this case may be PT PLN or other places,” said Umar Hadi.

Ambassador Umar Hadi further said that LS Cable & System as one of the largest power cable companies in the world is interested to invest because Indonesia is the best place to grow the business. He calls Indonesia as 3 + 2 formula. Three main aspects that make Indonesia the best place are the big markets, as Indonesia's production base has a wealth of abundant raw materials, and the number of workforce is abundant and more qualified. In addition, the two driving elements are the pro-business of Indonesian government and Indonesia is also a safe country. He quoted, based on Gallup Report, Indonesia is enlisted in the 10 safest countries in the world. (VOI-Skr/Trans by Rhm)

Eid ul Fitr 1439 Hijr holiday is over. Thursday (21/6), all employees, both civil servants and private employees start the first day of work normally. This also applies to the Embassy of the Republic of Indonesia in Kuala Lumpur, Malaysia. To ensure continuity of service to Indonesian citizens, Ambassador Extraordinary and Plenipotentiary Indonesia for Malaysia, Rusdi Kirana at Wisma Duta Kuala Lumpur, Wednesday (20/6) disclosed that the Embassy's service will be operating for 24 hours. This full day service, according to Ambassador Rusdi Kirana, is done to give provide better services to Indonesian citizens, especially those who come from outside Kuala Lumpur.

“Opening the embassy for working hours at 8 to 5 does not provide benefits to our citizens. Why? Every day, approximately one thousand Indonesian citizens come to the Embassy. They come from other cities at 3 am or 4 am, waiting outside, unable to rest, and having to perform religious activities; then Indonesian embassy has to be opened,” Rusdi Kirana said.

AmbassadorRusdi Kirana further said that for citizens who come to the Embassy outside the office hours, they do not have to look for meal. Because, the embassy has also provided it at the embassy cafeteria, cooked by other Indonesian migrant workers living at the embassy shelter and has been trained by women association (Dharma Wanita) of the Indonesian Embassy. (KBRN/Tomo Hakim/Trans by Rhm)

Russia the host of 2018 World Cup, has recorded its position in the second round after a 3-1 victory over Egypt on on Tuesday (19/6). Therefore, the Russian National Team is on the top of Group A with six points from two matches.   Report from the National Radio News Agency KBRN said Russia's first goal was recorded at Saint Petersburg Stadium, through Ahmed Fathi's own goal in the 47th minute. Russian second goal was recorded by Denis Cheryshev on the 59th minute, and the third by Artem Dzyuba in the 62nd minute. While the Egyptian National Team goal was scored by Mohamed Salah through penalty execution. Meanwhile, Uruguay with three points wins over Saudi Arabia by 0 points on Wednesday (20 / 6), ensuring South American and Russian teams to advance to the top 16 with one game left. (Kbrn/NITA)

Bank Indonesia Governor Perry Warjiyo said the Central Bank is considering to further raise its benchmark interest rate to meet external pressure on the national currency.

The central bank would take further monetary steps by the end of June that could be another increase in benchmark interest rate and relaxation of loan for house (Loan to Value), Perry said in Jakarta on Tuesday.

He said the Central Bank would be consistent in applying the pre-emptive policy and to continue to be ahead of the curve to meet the pressure against stability as a result of the increase in the fund rate of the U.S. Central Bank, and the policy of the European Central Bank.

"Bank Indonesia is ready to launch a pre-emptive , front loading and ahead of the curve policy . Further step could be raising the interest rate and at the same time relaxation of LTV policy to boost the housing sector," he said in Jakarta on Tuesday.

In addition the central bank would continue to optimize double intervention in the state securities and foreign exchange market and while keeping a loose liquidity, he said.

He said he was confident the Indonesian economy, especially financial asset market will remain strong that would attract foreign as well as domestic investors.

Bank Indonesia already raised its benchmark interest rate twice this year from 4.25 percent to 4.5 percent and to 4.75 percent in a bid to meet the global financial market pressure on rupiah.

The external pressure came with the normalization of the U.S. monetary policy and improvement in the U.S. economic data that resulted in reversal in the flows of funds previously flowing into developing economies including Indonesia.

Bank Indonesia is now applying a monetary policy heading toward tight bias and is set to optimize the room still available for raising the benchmark interest rate depending on the economic condition.

On Monday , Perry said Bank Indonesia will focus on maintaining economic stability such as by creating stability of the rupiah value against the U.S. dollar.

"Currently creating stability of rupiah value is the top priority for Bank Indonesia," he said in Sukoharjo.

Perry, however, predicted that foreign funds would return back to the country later this month.

"We will provide the best service in welcoming the funds flowing back to the country starting June 19," he said. (ANTARA)