Indonesia-Market Factors to watch - July 15
JAKARTA, July 15 (Reuters) - Following is a list of events in Indonesia as well as news stories and press reports which may influence financial markets.
WHAT IS HAPPENING IN INDONESIA (TIMES IN LOCAL/GMT)
(The inclusion of diary items does not necessarily mean that Reuters will cover the event)
- President Susilo Bambang Yudhoyono to hold a political and security cabinet meeting, 1500/0800
- DRINKING WATER PROJECTS NEED PRIVATE INVESTORS-GOCT
The government has asked the private sector to join in drinking water supply projects, which require 48 trillion rupiah ($5.6 billion) of investment in the next four years, because the government can only provide 11 trillion rupiah, said Rachmat Karnadi, the head of a water supply agency. (Bisnis Indonesia p.8 & Kontan p.20)
- EPHINDO, DEEP INDUSTRIES WIN CBM BLOCK
Ephindo Energy Private Ltd. and a consortium of Deep Industries Limited and Monnet Ispat & Energy Ltd. won bidding for the Melak Mendung coal-bed methane (CBM) blocks with an investment commitment of $20 million, said Evita Legowo, the director general for oil and gas at energy and mineral resources ministry. (Bisnis Indonesia p.9, Kontan p.13 & Investor Daily p.9)
- PERMATA TENE TO BUILD SUGAR FACTORY WORTH 1.5 TRLN RPH
Sugar company Permata Tene, a joint venture between Makassar Tene and Permata Dunia Sukses Utama, plans to spend between 1.2-1.5 trillion rupiah to build a sugar factory with annual capacity of 115,200 tonnes, said CEO Vincent Wenas, adding that the construction will start in May next year. (Bisnis Indonesia p.i2)
* Asian stocks will likely struggle on Friday, as Federal Reserve Chairman Ben Bernanke hosed down suggestions of more near-term stimulus for the struggling U.S. economy.
* Indonesia's stocks rose 0.42 percent on Thursday, with the country's largest lender Bank Mandiri the top turnover seeing 2.63 percent increase, and Darma Henwa the top trading down 1.75 percent.
For prices see <0#.JKSE>, for news see .
* U.S. stocks fell on Thursday as Fed Chairman Ben Bernanke backed off hints additional near-term stimulus could be on the way, removing a possible catalyst from a market already facing plenty of obstacles.
* Oil prices fell for the first time in three days on Thursday after Federal Reserve Chairman Ben Bernanke said the central bank was not ready yet to take more monetary easing measures, dashing hopes that energy demand would get a boost from fresh economic stimulus.
* Palm oil futures hit a near three-week high on Thursday on the back of firmer grains complex and crude oil, despite growing stocks in No.2 producer Malaysia.
-------------------Market Snapshot 01:40 GMT-------------
INSTRUMENT LAST PCT NET
CHG CHG S&P 500 1,308.87 -0.67% -8.850 USD/JPY 79.08 -0.06% -0.050 10-YR US TSY YLD 2.970 -- 0.016 SPOT GOLD $1,585.0 -0.11% -1.690
6 US CRUDE CLc1 $95.99 0.31% 0.300 DOW JONES 12437.12 -0.44% -54.49 ASIA ADRS 137.51 -0.80% -1.11 ----------------------------------------------------------
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IN THE NEWS, REUTERS INDONESIA (Click on Timah sees lower exports,higher revenue Indonesia cbank sees Q4 GDP growth at 6.7 pct Indonesia aims 7 trln rph in July 19 auction China firms eye investing $3 bln in E. Java Bank Danamon plans rights issue this year Indonesia sees 6 pct growth in soybean demand Cbank sees strong FX helping with capital flows ($1 = 8532.5 Rupiah) (Reporting by Olivia Rondonuwu and Rin Hindryati)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.