"Assuming the ICP turned, the increase was not significant subsidies"

Nanang Vitello

Sindonews.com -Executive Director Institute for Essential Services Reform (IESR), Fabby Tumiwa argues, if the crude oil price assumption of Indonesia (ICP) changed, would make an impact on the magnitude of subsidies on electricity. However, if the only ICP are changing and are not followed by other factors, then the change is not too significant subsidies.

Because, besides the assumption, there are several other factors that also affect electricity subsidies, among others the target production of electric power and the growth of sales of electricity.

"However, if production and sales growth targets for electricity was also changed, then the impact is significant," he said in Jakarta on Sunday (5/5/2013).

On the other hand, although electricity tariffs (TTL) rose an average of 4.3 percent per three months, still unable to cover the increased needs of electricity subsidies. The reason, according to Faby, increased electricity rates are still lower than the cost of fuel for electricity.

Previously Deputy Minister of MINERAL RESOURCES, Susilo Siswoutomo said that ICP changes done since seeing the realization it's been above assumptions and crude oil price trends and improving world economic growth.

The head of the unit of Work Implementing Specific business activities Upstream Oil and Gas (oil & gas SKK), Rudi Rubiandini estimates, assuming this year about ICP USD105 per barrel.

Assuming the change is accompanied by a change of oil lifting ICP 830 thousand and-850 thousand barrels per day (BPD), the oil and gas sector of the country's revenue this year is estimated at USD27,9-USD29,5 billion from the initial target of USD31 billion.

According to the Ministry of MINERAL RESOURCES, on average during the quarter I/ICP 2013 reached USD111,11 per barrel, ICP in March amounted to USD107,42 per barrel, February amounted to USD114,86 per barrel and January amounted to USD111,07 per barrel.

(rna)

Finance; Investment; Business; Economics

Finance; Investment; Business; Economics

Increase of Garuda airlines coupled Taxi service, the Bosowa

Finance Info-PT Garuda Indonesia Tbk (GIAA) has employed a cab Bosowa to enhance service excellence (best service), especially for passengers who travel to the South Sulawesi city of Makassar (South Sulawesi).

Commissioner of PT Bosowa (Taxi Bosowa), Subhan Aksa explains, it entered into a partnership with Garuda Indonesia by giving discount voucher from Taxi Bosowa.

"The purpose of this promotion the program Enjoy Makassar Makassar city to help develop as tourist destinations by providing convenience and value over the transport," he said in remarks released in Jakarta, Thursday (2/5/2013).
"In this town, there are Taxis are available to take the Bosowa anyone, saw a lot of things that are cool and spots for you in Makassar. Expected tourists visiting will be returned to Makassar, "he added.

According to him, the taxi Bosowa had the privilege to work closely with the national airline Garuda, which grew rapidly in the Asian region. He hopes that this cooperation can pamper passengers on Garuda.

"To be a pride for us, Garuda Indonesia gave credence to Taxi Bosowa to serve customers Garuda Indonesia on the ground especially in need of taxi services in the city of Makassar," he said.

The signing of the cooperation undertaken Subhan Aksa and Vice President of the East Indonesian Region of Garuda Indonesia, Garuda Indonesia offices in Rosyinah, in Makassar, not long ago.

As for the program called Garuda Indonesia Enjoy this Bosowa Ujung Pandang with Taxi will last for three months, starting May 1, 2013 to 31 December 2013. Ticket owner Garuda will get vouchers amounting to Rp20 Bosowa thousand Taxis with city check-in at the sales office Garuda Indonesia Makassar. Passengers simply show the Boarding Pass at the counter in the arrival area Taxi Bosowa Soekarno Hatta.

In addition to this program, Subhan is also hoping to explore cooperation Bosowa Taxi with Garuda Indonesia. On the other, according to Rosyinah, Garuda Indonesia appreciates this cooperation.

It believes that, working together will bring benefits to both parties, particularly loyal customers Garuda Indonesia and taxi Bosowa.

(izz)

Finance; Investment; Business; Economics

Finance; Investment; Business; Economics

Unemployment in Cyprus will increase 30%

Dani Mohammad Dahwilani

Sindonews.com -analysts predict bailout deal on Cyprus would lead to a loss of investor and thousands of jobs. Where the number of unemployed would increase to 30 percent.

Professor Hari Tsoukas, an analyst of business in Europe, unemployment in Cyprus tend to rise at least doubled from 14 percent to at least 25 percent and may be up to 30 percent. "This is a big challenge now facing the people of Cyprus," he said, as reported by Skynews, Tuesday (26/3/2013)

During the week-long people have been rationed, and some of them withdraw from cashpoints. Banks have been closed since last March 16. However President Nicos Anastasiades recently will reopen the bank on Thursday (28/3/2013).

Anastasiades insisted, it would perform some transaction restrictions to prevent the flow of big money out.

According to Fiona Mullen, an economist who specializes in Cyprus, this means it is difficult for the company to pay salaries and buy goods. In the short term this crisis will be felt importers of food and medicine.

"Unemployment has now been reached 15 percent will increase as a result of the closure of Laiki bank (the second largest bank of Cyprus), be 17.5 percent. In fact, going to 20 percent within three months and 26 percent in one year's time, "said Mullen, as reported in the previous Sindonews .

While the former Governor of the Central Bank of Cyprus Afxentis Afxentiou, argues, the effect can last up to a decade.  "Cyprus has undergone a big hit and the standard of living we will spiral. Although the economy may recover in two to three years, our standard of living at least takes 10 years to get back, "he explained.

(dmd)

Finance; Investment; Business; Economics

Finance; Investment; Business; Economics