Tony Abbott, Prime Minister of Australia, said that a diplomatic fallout may occur between Australia and Indonesia if the latter sticks to its plan to execute two Australian citizens who are on death row in Indonesia on drug charges. On several occasions the Australian government requested for clemency but these requests were rejected by Indonesian President Joko Widodo. Widodo takes a tough stance on drug-related crimes as the spread of forbidden substances jeopardizes people’s health in Indonesia.

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On 15 February 2015, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic matters such as the latest current account figures, foreign exchange risks, foreign ownership in the banking sector, biodiesel prices, investments in the cement industry, the Cilamaya port tender, and more.

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The central bank of Indonesia (Bank Indonesia) announced on Friday (13/02) that Indonesia’s current account deficit - the broadest measure of trade in goods and services - improved to 2.81 percent of gross domestic product (GDP), or USD $6.2 billion, in the fourth quarter of 2014 (from a revised 2.99 percent of GDP in the preceding quarter). The full-year 2014 deficit amounted to USD $26.2 billion, equivalent to 2.95 percent of GDP from a (revised) deficit of USD $29.1 billion (3.18 percent of GDP) in 2013.

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Indonesian Transportation Minister Ignasius Jonan said that the Cilamaya port project in Karawang (West Java) may be tendered this year to the private sector. The central government is currently engaged in the preparation of the terms of reference (TOR) for the project. Through the construction of the Cilamaya port, which will occupy 2,000 hectares of land some 65 kilometers east of Jakarta, the government aims to reduce the country’s logistics costs and ease traffic at the Tanjung Priok port, the largest Indonesian seaport, in Jakarta.

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