One of the world’s largest budget carriers, Malaysia-based AirAsia Group, plans to list its Indonesian unit - Indonesia AirAsia - on the Indonesia Stock Exchange in mid-2016. AirAsia Group Chief Tony Fernandes said that the group is eager to expand its presence in Indonesia, one of the world’s fastest growing regions in terms of air passengers, and aims to raise USD $300 million through this initial public offering (IPO). The fatal crash of Indonesia AirAsia flight QZ8501 in the Java Sea in December 2014 did not dim the group’s ambitions.

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Contrary to earlier reports the Indonesian government has not decided yet to completely phase out production and consumption of low-octane gasoline (known as premium) in Indonesia. Last week state-owned energy company Pertamina said that premium, a subsidized fuel that was introduced under the Suharto regime in order to support the population’s purchasing power (by making transportation costs artificially low) would be gradually replaced by 90-octane pertalite, a higher-grade fuel, starting from May 2015.

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In line with other Asian emerging market currencies, the Indonesian rupiah is depreciating against the US dollar on Monday’s trading day (20/04). According to the Bloomberg Dollar Index, Indonesia’s currency had depreciated 0.25 percent to IDR 12,882 per US dollar at 13:00 pm local Jakarta time. However, Head of Research at NH Korindo Securities Reza Priyambada believes that the currency cannot depreciate much further as positive economic data provides enough support for the rupiah.

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The 60th Asian-African Conference in Jakarta and Bandung officially started yesterday (19/04) in the Jakarta Convention Center. On Sunday, Asian-African senior officials gathered for meetings, while today ministerial meetings are on the agenda. The Asian-African Conference aims to enhance economic, political, social, cultural and environmental cooperation among the participating countries. Representatives and business people from 81 countries (Asia, Africa and the Middle East) will visit Indonesia between 19 and 24 April 2015.

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