Indonesia

Residents in villages?in eastern Indonesia?hit by a deadly earthquake that killed 68 people waited for?help?on?Monday as rescuers searched through collapsed structures to find people trapped under the rubble. Berton SP Panjaitan of Indonesia's disaster management agency said that the death toll had been raised from 54 to 68 late on Monday. He added that over 200 people were injured. Many people are afraid to go back to their homes because of the aftershocks. Panjaitan reported that residents in East Nusa Tenggara were jolted by nearly 1,600 aftershocks as of Monday. The tremor cast a dark shadow on Indonesia's Independence Day...

Authorities said that around 5,000 people were evacuated following a magnitude-7.7 quake in eastern Indonesia, which killed at least 53 and caused landslides. They added that more than 130 people were injured, including many with broken bones. The quake that struck Southeast Asia on Saturday was the deadliest in the nation since a quake in West Java, Indonesia, killed hundreds of people back in 2022. According to Indonesia's national agency for disaster mitigation, BNPB, more than 3,300 people were either in a sport arena or self-evacuated from the eastern Sikka region. Residents were left stranded in tents made of tarpaulin...

Authorities reported on Sunday that 5,000 people had been evacuated after an earthquake of magnitude 7.7 shook a region in eastern 'Indonesia. The quake killed at least 51, blocked roads, and caused landslides. Deputy Health minister Benjamin Paulus Octavianus said in a televised discussion that 36 people had suffered serious injuries in the Saturday morning quake, while 77 others sustained minor injuries. This quake was followed by 341 aftershocks and is Southeast Asia's worst in years. After a devastating earthquake that struck West Java in 2022, hundreds of people died. The disaster management agency BNPB reported that more than 3,300...

Officials said that Indonesia is intensifying efforts to control forest and landfires in six "priority" provinces. Cloud-seeding planes are being used to create rain to slow down the haze spreading throughout the region. Indonesia faces a 'longer and more severe dry season this year due to El Nino intensifying, increasing the risk of forest fires, air pollution and drought. Forestry Ministry data revealed that from January to the end of June, fires affected 107,465 ha (265,552 acres). This is a massive 110% increase in comparison with 2023 when El Nino was last felt by Indonesia. Djamari Chaniago, chief security minister,...

A revival of monsoon rainfall has led to a rapid increase in the planting of summer-sown grains such as rice, cotton and soybeans across a large part of India. This has helped reduce a?earlier deficit in sowing caused by?below normal rainfall. India is the largest rice exporter in the world, with about 40% of the global total. It's also the biggest importer for vegetable oils like palm oil, sunflower oil and soyoil. Indian farmers usually sow summer crops between June and July, after the annual'monsoon' reaches Kerala in the south. The monsoon was three days late this year and its...

A new report released on Wednesday shows that deadly landslides and floods in Indonesia's Sumatra have killed at least 7% the population of critically endangered tapanuli apes. At least 1,200 people were killed and 300,000 homes damaged by the cyclone-induced floods and landslides. Environmental groups blamed the rapid deforestation on Sumatra for the extent of damage. The report said that at least 58 Tapanuli Orangutans were killed by the floods. These orangutans are native to north Sumatra, in an area called Batang Toru Forest. This forest is also home to the majority of the 800 primates. The report was a...

A 'new report' released on Wednesday shows that deadly floods and landslides in Indonesia last year wiped out at least 7% of Tapanuli orangutans, which are critically endangered. Floods and landslides caused by a cyclone in Sumatra last year killed at least 1,200 and destroyed around 300,000. Environmental groups blamed the deforestation on Sumatra for the severity of the damage. The report cited a'survey of the western block in the forest which is home to the majority of the 800 primates. The report was a joint study of Borneo Futures in Brunei, World Weather Attribution, and Liverpool John Moores University....

A new report published on Wednesday shows that deadly floods and landslides last year in Indonesia's Sumatra have?wipedout at least 7% the population of the critically endangered Tapanuli Orangutan. At least 1,200 people were killed and 300,000 homes damaged by the landslides and floods caused by the cyclone. Environmental groups blamed the deforestation on Sumatra for the severity of the damages. The report stated that at least 58 Tapanuli Orangutans were killed by the floods. These orangutans are native to north Sumatra, and live in an area near Batang Toru Forest. This forest is also home to the majority of...

Financial markets underestimate the economic risks associated with biodiversity loss. This could expose countries to debt crises and higher borrowing costs. The study, ?led ?by economists from the Universities of Sussex, Sheffield and Heriot-Watt, presented what they described as the world's first biodiversity-adjusted sovereign credit ratings model. The report said that existing rating frameworks do not take into account environmental degradation and leave $83 trillion worth of global assets susceptible to mispricing. Researchers estimated that a partial collapse in key ecosystems, such as marine fisheries, tropical forests, and wild pollinators, could result in an increase of $162 billion annually for...

India predicted an El Nino weakened monsoon for 2026, which will bring the lowest rainfalls in 11 years. This is fueling concerns about crops, food and growth in the world's 5th largest economy. About half of the farmland in a $4 trillion economy, where irrigation is not available on nearly half of it and half of its population relies on farming for their livelihood, receives about 70% of its annual rainfall from monsoon rains. Gaura Sengupta is chief economist at IDFC First Bank. She said that the inflation risk and growth are impacted by prospects of low rainfall and distribution....

Scientists warned that climate change is causing unprecedented fire outbreaks in Africa, Asia, and other parts of the world this year. Conditions are expected to worsen as summer in the northern hemisphere approaches and El Nino weather patterns take hold, they said. Scientists warned that fires in the northern hemisphere from January to April had already caused unprecedented damage. They burned more than 150,000,000 hectares of land (370.66,000,000 acres), 20% more than previous records. Researchers said that temperature records may be broken this year. This will cause widespread fires and drought, as well as the effects of climate change caused...

Indonesian authorities confirmed on Saturday that they had located the two Singaporeans who were missing, but it was not yet known if either of them was alive. They also confirmed the death of an Indonesian woman 'hiker, after Mount Dukono erupted in the Pacific island of Halmahera. "We have located their coordinates." Iwan Ramdani of Indonesia's rescue agency said that it was around the crater's rim. This is consistent with the witness reports and drone surveillance. The spokesperson for the disaster mitigation agency, Abdul?Muhari, stated that both appeared to be between 20 and 30 metres (65 to 100 feet) away...

You wouldn't guess it by the price of aluminium. Two damaged Gulf smelters, and the resulting?logistical constraints at other smelters have already created a 2 million metric ton gap in the global supply chains. After surging to a 4-year high of $3,787.50 per tonne in early June, London Metal Exchange's (LME) 3-month aluminium now trades around $3,170 a tonne, exactly where it traded before the United States launched its "Operation?Fury", a joint strike with Israel against Iran, on February 28. Where did the war premium end up? Is the market right in being so'relaxed' about?the unprecedented shortage of a metal...

After the Iran conflict, when oil flows were disrupted and costs rose, India decided to buy Russian coal and crude oil to boost its energy supply. According to data compiled by Kpler, the world's third largest oil importer is expected to experience a surge in arrivals of Russian crude to a new record of 2,55 million barrels per?day (bpd). The imports of?Russia in June will be higher than the 2,13 million bpd that were imported in May. This was the third highest on record, and only behind the 2,16 million bpd for May 2023. In June, Russia's share will be...

According to the minutes of a Friday meeting between Danantara Indonesia and industry associations, a unit assigned to manage strategic commodity exports won't take over existing customer relationships or contracts, which eases concerns about possible?trade flow interruptions. Investors are spooked at President Prabowo Subianto’s plan to put all strategic commodities in Indonesia under the control of Danantara, Indonesia’s sovereign wealth fund. Danantara Sumberdaya Indonesia met with the Indonesian Employer's Association, the Indonesian Mining Association, the Indonesian Coal Miners Group APBI, the Nickel Industry Group FINI, and the Palm Oil Producer Association GAPKI to discuss the implementation of the plan. The...

Indonesia released a highly anticipated?regulation? on Friday, which brought exports of strategic commodities under the control of the central government. The move was intended to boost state earnings and stabilize its rupiah. On May 20, President Prabowo announced that Indonesia will 'bring?exports?of all its strategic commodities?under the control of a?new state company. This move has scared investors. Prabowo signed the 11-page regulation on the State Secretariat Ministry's website on May 20, and it outlines the schedule of implementation for the new controls. The regulation stated that only state-owned enterprises can export palm oil, coal and ferroalloys, either in the capacity...

In a 'joint statement' received on Tuesday, business groups in Indonesia asked the government to provide technical guidance to its plan to centralise exports. The Indonesian Employers Association (IAA), along with associations of coal miners and nickel smelters, palm oil producers and miners, supported the new regulations, but expressed the hope that the government would collaborate with the private sector to implement them. They said that the government should "issue transparent technical guidelines" to eliminate negative speculative and maintain confidence on international markets in Indonesia as a global supplier of commodities. On May 20, President Prabowo announced that resource-rich Indonesia...

The Iran War has impacted crude oil and natural gas markets. However, the impact on coal prices has been muted. Prices for thermal grades are quietly rising to multi-year highs. The conflict between the United States of America and Iran has led to the loss of about 10% of crude oil and a fifth of LNG. However, the thermal coal supply has been largely unaffected by the conflict, despite the fact that the cost of shipping and producing has increased due to higher fuel prices. Coal prices are likely to be driven by a number of factors, including the Iran...

Although the Iran war has impacted crude oil and natural gas prices, its impact on coal has been muted. Prices for thermal grades are quietly rising to multi-year heights. The conflict between the United States of America and Iran has led to the loss of about 10% of world crude oil, and a fifth of LNG, but thermal coal supplies remain largely unaffected. Even though the cost of shipping and producing has increased due to higher fuel prices. Coal prices are not solely driven by the?Iran War. Other factors, such as low Chinese production and Indonesian regulations, may be more...

Two sources with knowledge of the issue said that Indonesia is planning to create a 'body' that will oversee the exports of certain commodities. This move is intended to?combat under-invoicing?and increase state revenue. The market has been spooked by the news, as Jakarta's main index fell 3.5% on Tuesday. Sources said that all exports of coal and palm oil will be handled by the state agency. Other strategic commodities are expected to follow. Indonesia is the largest exporter of palm oil and thermal coal in the world. They declined to be named as they weren't authorised by the government to...

Indonesia's Investment Ministry said that it had met with Agincourt Resources to discuss the?legal and environment aspects of operations at Martabe Gold Mine, after Jakarta revoked their mining permits because of environmental violations. Agincourt is a part of the conglomerate Astra International. Astra's largest shareholder is Jardine Matheson. The government revoked the permits of 28 companies after accusations that they had violated environmental laws, which led to the worsening of the floods last year in Sumatra. At least 1,200 people were killed. The sovereign wealth fund Danantara Indonesia headed by Investment Minister Rosan Roeslani has created a new company called...

CNBC Indonesia reported Monday that Indonesia will require all natural resource exporters, starting January 1, to deposit and retain their foreign currency earnings at state-owned banks. The report was based on a government document. According to the new rules, which were introduced in January, exporters are required to keep for a minimum of one year all proceeds from the sale of natural resources such as coal, palm oil, and nickel, within the Indonesian bank system, including private-owned banks. Exporters who are reluctant to convert their proceeds into rupiah can use the money for business purposes if they exchange it. CNBC...

Customs data released on Friday showed that China's imports of coal in October were down 10% from the previous year, due to a holiday which reduced the number working days during the month. Imports will be supported in 2025 by the winter restocking of products during the last two months. Imports in October fell from 46.25 to 41.74 millions metric tons, a drop of almost ten percent. Imports in September reached 46 million metric tonnes, a record high for nine months. Feng Dongbin is vice-general manager of Fenwei Digital Information Technology. He said that imports decreased sequentially, and also from...

According to a copy seen on Wednesday, Indonesian President Prabowo Subianto has issued a decree to resume international carbon trading after a hiatus of four years. In 2021, the Southeast Asian country published carbon market regulations that focused more on compliance than voluntary markets. The regulation effectively ended all trading of carbon credits across borders, even those generated by large projects such as the Katingan Mentaya Conservation Project. Indonesia claimed that the moratorium allows the country to prioritise meeting its own greenhouse-gas reduction targets instead of selling the reductions abroad. The suspension was also a result of concerns that carbon...