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Aug 12, 2015

Indonesia’s Widodo to reshuffle cabinet as economic growth sags

JAKARTA (Reuters) – Indonesian President Joko Widodo will replace key economy ministers in a cabinet reshuffle on Wednesday, sources said, a long-expected change to reassure investors worried about a policy drift that has allowed growth to slip to a six-year low.

According to media reports and Reuters sources, former central bank governor Darmin Nasution will replace Sofyan Djalil as chief economic minister and prominent private equity executive Tom Lembong will take over the trade portfolio.

Aug 9, 2015

Indonesia urges U.S. Fed to hurry up and raise rates

JAKARTA (Reuters) – Indonesia wants the U.S. Federal Reserve to hurry up and raise interest rates because uncertainty over when it will tighten has created downward pressure on the rupiah, the country’s chief economics minister said.

Sofyan Djalil, coordinating minister for economics, told Reuters that he did not see the rupiah dropping when the U.S. easing does come because the move has been built into market expectations, and in fact the currency is now undervalued.

Aug 7, 2015

Indonesia open to Pacific trade pact after Obama Congress victory

JAKARTA (Reuters) – Indonesia is now open to joining the Trans-Pacific Partnership (TPP) trade agreement following U.S. President Barack Obama’s victory in a congressional battle over the pact, the country’s chief economic minister said on Friday.

The TPP would cut trade barriers and harmonize standards across 12 Pacific rim economies, including Australia and Japan, that have a combined gross domestic product of $28 trillion.

Jan 18, 2015

Insight – Indian spy’s role alleged in Sri Lankan president’s election defeat

COLOMBO/NEW DELHI (Reuters) – Sri Lanka expelled the Colombo station chief of India’s spy agency in the run-up to this month’s presidential election, political and intelligence sources said, accusing him of helping the opposition oust President Mahinda Rajapaksa.

An Indian foreign ministry spokesman denied any expulsion and said that transfers were routine decisions. Rajapaksa, voted out of office in the Jan 8 election, told Reuters he did not know all the facts while the new government in Colombo has said it is aware of the reports but cannot confirm them.

Jan 9, 2015

Sri Lankan president concedes defeat after decade in power

COLOMBO (Reuters) – Sri Lankan President Mahinda Rajapaksa conceded defeat to his opposition challenger on Friday after a presidential election, ending a decade of rule that critics say had become increasingly authoritarian and marred by nepotism and corruption.

“We don’t have any good news. It is all bad news,” said a senior government official and close ally of Rajapaksa as the results came in from Thursday’s election on this Indian Ocean island of 21 million people. “I think people need a change and this is democracy.”

Jan 7, 2015

Sri Lanka presidential election brings country to crossroads

COLOMBO, Jan 8 (Reuters) – Sri Lankan President Mahinda
Rajapaksa has urged voters to back “the devil they know,” and
hand him a third term when they go to the polls on Thursday,
rather than an “unknown angel” who promises to root out
corruption and political decay.

There have been no reliable opinion polls ahead of the vote,
but many believe opposition candidate Mithripala Sirisena will
quash Rajapaksa’s bid for re-election and change the country’s
direction.

Jan 7, 2015

Presidential election brings Sri Lanka to a crossroads

COLOMBO (Reuters) – President Mahinda Rajpaksa has urged Sri Lanka’s voters to back “the devil they know” and hand him a third term when they go to the polls on Thursday, rather than an “unknown angel” who promises to root out corruption and political decay.

There have been no reliable opinion polls ahead of the vote, but many believe opposition candidate Mithripala Sirisena will quash Rajapaksa’s bid for re-election and change the country’s course.

Jan 7, 2015

Sri Lanka’s political outlook shaky, whoever wins knife-edge election

COLOMBO (Reuters) – In a measure of how far Thursday’s presidential election in Sri Lanka has become a knife-edge contest, diplomats here have been checking the rules in case of a dead heat: according to a 1981 act, the rival candidates would draw lots to settle on a winner.

Until very recently, few would have predicted such uncertainty, not least President Mahinda Rajapaksa, who called the election two years early, confident that – despite his waning popularity – he could win an unprecedented third term.

Nov 24, 2014

India’s Jindal Steel shelves $10 bln project after coal setback

NEW DELHI (Reuters) – India’s Jindal Steel and Power Ltd has shelved a $10 billion coal-to-diesel project, its chairman told Reuters, becoming the first big casualty of a court decision to scrap coalfields allocated to private firms since 1993.

Jindal Steel’s 1.5 billion ton coalfield in the eastern state of Odisha was among 214 canceled by the Supreme Court in September, when it ruled the practice of selective allocation was illegal and arbitrary. With nine coalfields taken back, the company has been worst hit by the tougher-than-expected verdict.

Nov 24, 2014

Jindal Steel shelves $10 bln project after coal setback

NEW DELHI (Reuters) – Jindal Steel and Power Ltd(JNSP.NS: Quote, Profile, Research) has shelved a $10 billion coal-to-diesel project, its chairman told Reuters, becoming the first big casualty of a Supreme Court decision to scrap coalfields allocated to private firms since 1993.

Jindal Steel’s 1.5 billion tonne coalfield in Odisha was among 214 cancelled by the Supreme Court in September, when it ruled the practice of selective allocation was illegal and arbitrary. With nine coalfields taken back, the company has been worst hit by the tougher-than-expected verdict.

    • About John

      "John Chalmers is the Reuters' Bureau Chief for South Asia. He was previously a correspondent in London, Paris, Hanoi, New Delhi and Brussels."
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