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indonesian Govt to include 84 more countries in free-entry policy

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Immigration officials are ready to implement a free-visa policy for 84 countries that were added to the list at the end of last year, bringing to 174 the total number of countries whose nationals can stay in Indonesia for up to 30 days on a free visa, an official said recently.

Law and Human Rights Ministry’s immigration directorate general spokesman Heru Santoso Ananta Yudha said on Monday that implementation to waive visa fees for the latest addition of countries was awaiting the issuance of a presidential decree.

“We at the immigration directorate general fully support the government’s decision and will carry out our duties accordingly,” Heru told the thejakartapost.com.

Foreign Ministry spokesperson Arrmanatha Nasir said the government would maintain appropriate security procedures in relation to the free-visa policy.

He also said the government would continue its efforts to develop Indonesia’s tourism and approach potential regions such as the Middle East and Eastern Europe to visit the archipelago.

Security issues

University of Indonesia international relations expert Hikmahanto Juwana said the government needed to be vigilant and selective with nationalities to be granted free visas to Indonesia.

He urged the government to prepare the implementation, including preparing the immigration officials once the policy took effects.

“For Indonesia, even though tourism is important, [the government] must still be cautious in terms of security and the economy."

"Security is a very important issue considering that minimum immigration officials oversee the supervision," he said.

Hikmahanto also warned against including countries whose citizens were often involved in transnational crimes.

Furthermore, the government should also be careful of countries whose citizens may exploit Indonesia as a transit country to illegally enter Australia.

The situation will not only create trouble for both Australia and Indonesia but may also create misunderstandings between the two nations that could in turn harm their relations, Hikmahanto said.

President Joko “Jokowi” Widodo said on Monday that he was not worried the policy would compromise security or stability in the country. He cited neighboring countries like Singapore and Malaysia that issued free visas to the nationals of more 170 countries but remained safe from security disturbances.

Coordinating Maritime Affairs Minister Rizal Ramli announced in December that the government had added 84 countries to the list of nations eligible to free entry from the current 90 countries in order to boost foreign tourist arrivals. The government is targeting 20 million tourist arrivals by 2019 even though development of the country’s tourist facilities lagged behind that of neighboring countries.

Australia and Brazil and among the 84 countries. Indonesia's relations with the two countries nosedived following the executions of two Australians and one Brazilian for drug offenses last year.

Australian tourists are among the top five visitors to Indonesia along with Singaporeans, Malaysians, Chinese and Japanese.

Other countries whose nationals will be eligible for free visas are Bangladesh, Cameroon, Kenya, Pakistan, Palestine, Ukraine and Uzbekistan. (rin)

- See more at: http://www.thejakartapost.com/news/2016/01/05/authorities-ready-implement-free-visa-policy-additional-84-countries.html#sthash.jJjKdcYI.dpuf

indonesian Govt to include 84 more countries in free-entry policy

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Beijing installing radar in South China Sea: US think tank claims

0 Business, World 00:34:00

<img src="http://www.dailytimes.com.pk/print_images/456/2016-02-24/beijing-installing-radar-in-south-china-sea-us-think-tank-claims-1456280996-1112.jpg" /> 
 
Beijing is introducing radar offices on its manufactured islands in the debated South China Sea, an American research organization has said, in a move examiners cautioned would "exponentially enhance" the nation's observing limits. 
 
Satellite symbolism of Cuarteron reef in the Spratlys discharged by the Washington-based Center for Strategic and International Studies (CSIS) indicated what had all the earmarks of being a high-recurrence radar establishment, and also a beacon, underground dugout, helipad and different interchanges hardware. 
 
The photos came just a week after US authorities said China had sent surface to air rockets in the Paracel islands promote north, and with pressures mounting in the deliberately basic locale. 
 
"Position of a high recurrence radar on Cuarteron Reef would essentially support China's capacity to screen surface and air activity coming north from the Malacca Straits and other deliberately vital channels," said CSIS's Asia Maritime Transparency Initiative. 
 
Pictures of other little reefs adjacent which China has changed into fake islands — Gaven, Hughes, and Johnson South — uncovered different elements recognized by CSIS as plausible radar towers, firearm emplacements, shelters, helipads, and quays. 
 
CSIS said that while the before arrangement of HQ-9 surface to air rockets was "outstanding", it "doesn't adjust the military equalization in the South China Sea". 
 
However, it went on: "New radar offices being created in the Spratlys, then again, could altogether change the operational scene." 
 
Beijing asserts just about the entire of the South China Sea — through which 33% of the world's oil passes — while a few other littoral states have contending claims, as does Taiwan. 
 
The US has lately sent warships to cruise inside of 12 nautical miles — the typical regional point of confinement around characteristic area — of a questioned island and one of China's manufactured developments in what it says is a resistance of the privilege to free section. 
 
The Chinese military has as of now been utilizing the islands to screen military and non military personnel activity electronically yet the new radar establishments "will exponentially enhance that ability", said Euan Graham, executive of the International Security Program at the Lowy Institute. 
 
They would be exceedingly helpless in struggle yet would give China "a huge knowledge advantage — and make it much harder for the US and other local naval forces and aviation based armed forces to travel through the South China Sea undetected," he included. Into the great beyond radar is basic for rocket focusing on, he noted. A week ago China affirmed it had put "weapons" on Woody Island in the Paracels, guarding what it said was its sovereign right to do as such. 
 
Gotten some information about the radar establishments, Chinese outside service representative Hua Chunying said Tuesday that the zone was Chinese domain "past question" and Beijing was qualified under universal law for the "vital and constrained organization of resistance offices". 
 
"Verbally, what the US discusses is flexibility of route, yet in its heart, maybe what it's reasoning about is outright authority on the ocean," she told a customary preparation. 
 
Beijing says it guards the privilege to free section, and demands its island building has regular citizen purposes, for example, pursuit and salvage offices, and in addition military. A large group of establishments with potential military use are being produced, by, including upwards of three runways — no less than one of them 3,000 meters (10,000 feet) long. 
 
China is hoping to convey "all the cautious and hostile ability implies that it has" as it looks for territorial predominance, said Jean-Pierre Cabestan, of Hong Kong Baptist University. 
 
"In perspective of the shortcomings of different petitioners, China will have the capacity to command and after that possibly control the South China Sea — its principle goal being to drive the US Navy and Air Force to reconsider before cruising or flying over the zone," he told AFP. 
 
In the last three or four years, the Obama organization had turned out to be "additionally ready" to test Beijing's cases in the South China Sea, said Lin Wencheng, of Taiwan's National Sun Yat-sen University, including: "The radar to some degree focuses on the US's military exercises in this locale."

Beijing installing radar in South China Sea: US think tank claims

Beijing is introducing radar offices on its manufactured islands in the debated South China Sea, an American research organization has sai...

Turkey PM unveils plan to boost struggling tourism sector

0 Business, News 00:32:00

<img src="http://www.dailytimes.com.pk/digital_images/456/2016-02-23/turkey-pm-unveils-plan-to-boost-struggling-tourism-sector-1456213052-9525.jpg" /> 
 
Ankara - Turkish Prime Minister Ahmet Davutoglu on Monday declared a multi-million-dollar help bundle for the nation's battling tourism industry which has been hit by an emergency with Russia and security concerns, AFP reported. 
 
Davutoglu said that an aggregate of 255 million Turkish lira ($86.5 million) in money related guide would be given to Turkish traveler organizations while there would likewise be measures to offer firms some assistance with restructuring obligation. 
 
"These measures will be actualized rapidly and we surmise that the bundle will restore the tourism division," Davutoglu told journalists in Ankara. 
 
"We are in a touchy time however we will defeat the troubles of the tourism area and we will protect our positions as a standout amongst the most appealing destinations," he included

Turkey PM unveils plan to boost struggling tourism sector

Ankara - Turkish Prime Minister Ahmet Davutoglu on Monday declared a multi-million-dollar help bundle for the nation's battling touris...

Haier group to acquire General Electric of US for $4.5 billion

0 Business, News, Pakistan 00:31:00

<img src="http://www.dailytimes.com.pk/print_images/456/2016-02-24/haier-group-to-acquire-general-electric-of-us-for-4-5-billion-1456269226-3959.JPG" /> 
 
Haier Group, China is set to obtain the home apparatus business of the American monster, General Electric (GE) at an incredible $4.5 billion. 
 
Reporting the arrangement, Haier and GE say the two organizations would collaborate worldwide to grow their scope in the assembling and mechanical areas. The arrangement would empower Haier, which is hoping to put its items in homes the world over, to grow its operations internationally and especially in the United States, opening further the vital US market for Haier brand coolers, clothes washers, aeration and cooling systems and other home machine classes. 
 
Haier Group Chairman and CEO ZhangRuimin remarked, "This key organization together gives another beginning stage to both Haier and GE and I am sure that this association will convey upgraded worth to the partners of both organizations. Further, we share normal objectives that we would like to accomplish together through upgrading the estimation of the Haier and GE brands and encouraging so as to build up our workers independent development and collaboration." 
 
In his remarks, GE CEO Jeff Immelt said, "We are satisfied to be offering our Appliances business to Haier and to dispatch this new organization. Haier has an expressed center to develop in the United States, construct their assembling vicinity here, and to put further in the business." 
 
He underscored that development, new item presentation, and brand administration are essential to the general methodology of both organizations. He said under the arrangement, GE apparatuses furnish Haier with awesome items, best in class fabricating offices, and a gifted group. Furthermore, he included, "We see the chance to cooperate to construct the GE brand in China." 
 
By Haier Group declaration, Qingdao Haier Company, a Shanghai-recorded organization in which Haier claims 41%, would procure the GE apparatus unit. It said the arrangement "sets up a model for cross-fringe speculation and participation in the middle of China and the United States." 
 
GE Appliances is headquartered in Louisville, Kentucky and is a main home machines organization in North America. The business has nine assembling plants crosswise over five states in the US and has fabricated world-class logistics and conveyance capacities and additionally solid client connections in both the retail and contract channels. In 2014, GE Appliances had around $5.9 billion in income, and utilizes roughly 12,000 representatives all inclusive, 96% of whom are situated in the United States. 
 
The obtaining of GE Appliances is a critical interest in extending Haier's vicinity in the U.S. also, in the Western side of the equator. This exchange would make quick and long haul esteem not just for the groups in which both organizations work, additionally for representatives, clients, business accomplices, and shareholders. 
 
Haier and GE Appliances would bolster and have entry to buyers and suppliers in Haier's and GE's individual and reciprocal locales. Specifically, this exchange would give GE Appliances access to the interest for its fantastic items in the China market and position the organization for further universal development. Besides, by making a bigger, more worldwide organization, the exchange would give expanded chances to all representatives. 
 
Qingdao Haier Company Chairman Liang Haishan said, "Qingdao Haier and GE Appliances are driving machine organizations in the eastern and western sides of the equator. The partnership of both sides will prompt a lot of common advantage. Qingdao Haier and GE Appliances are exceptionally reciprocal organizations, especially in the zones of brand showcasing, item development, and production network and quality administration. This meeting up will promote upgrade both the Haier and GE brands."

Haier group to acquire General Electric of US for $4.5 billion

Haier Group, China is set to obtain the home apparatus business of the American monster, General Electric (GE) at an incredible $4.5 billi...

SECP announces board of directors for PSX

0 Business, News, Pakistan 00:30:00

<img src="http://www.dailytimes.com.pk/print_images/456/2016-02-24/secp-announces-board-of-directors-for-psx-1456269162-8001.jpg" /> 
 
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has designated conspicuous experts to go about as autonomous executives on the leading body of the Pakistan Stock Exchange Limited (PSX). 
 
By, Muneer Kamal, who has served as director of the leading group of the previous Karachi Stock Exchange (KSE) since 2011-2015, has been reappointed. Other people who are named as free chiefs incorporate Moin M Fudda, Tawfiq Asghar Hussain, Muhammad Naeem, Rahat Kaunain Hassan and Samir Ahmed on the PSX Board. The majority of the said people are profoundly qualified and prepared experts of magnificent notoriety and respectability, having unlimited experience of the monetary and capital markets and the administrative, legitimate and scholarly area. 
 
Muneer Kamal has more than 35 years of broad involvement in saving money and monetary segment including conspicuous positions at the Citibank, Faysal Bank Limited, Union Bank Limited and KASB Bank Limited. He has additionally served as the SECP chosen one executive. Different directorships and workplaces held by him are Chairman-National Bank of Pakistan (NBP), Director-Government Holdings (Private) Limited and Director-Engro Corporation Limited. 
 
Moin M Fudda is the Honorary Consul General of New Zealand for Pakistan since 1990 and has additionally served as Country Director of Center for International Private Enterprise from 2005-2016. He has additionally served as Managing Director-previous KSE for a long time and as Chairman-previous Islamabad Stock Exchange Limited for 2015. Before joining KSE, he was the Country Chief of Commercial Union Insurance and prior Executive Director-Pakistan Insurance Corporation. 
 
Tawfiq Asghar Hussain has more than 37 years of different universal involvement in business and focal managing an account incorporating driving positions in American Express Bank and two terms as Deputy Governor, State Bank of Pakistan (SBP). He was President and CEO of Samba Bank Pakistan From 2008-2013. Right away, he is Secretary General-Pakistan Banks' Association and Director-Pakistan Institute of Corporate Governance. 
 
Muhammad Naeem is a qualified Chartered Accountant by calling following 1967. He is in the blink of an eye on NBP's Board and has served as Vice President and Council individual from Institute of Chartered Accountants of Pakistan and Chairman of previous Lahore Stock Exchange Limited (LSE) as SECP-designated chief. 
 
Rahat Kaunain Hassan has been honing with Hassan Kaunain Nafees, Legal Practitioners and Advisers, as senior accomplice since November 2013 and is likewise establishing accomplice of the firm. Before that, she has served as Chairperson of the Competition Commission of Pakistan (CCP) where she was instrumental in foundation of the Office of Fair Trading and slung CCP to get universal praise for unmistakable rivalry law requirement. She has likewise served as General Counsel/Executive Director at the SECP. 
 
Samir Ahmed has more than 30 years of involvement in the money related segment including speculation and business managing an account, capital business sector and monetary regulation. He was Chief Executive-Pakistan Mercantile Exchange Limited, IGI Investment Bank and previous LSE. In the blink of an eye, he is Chief Executive Knightsbridge Capital and part Adjunct Faculty at Lahore University of Management Sciences. 
 
The designated people are relied upon to offer PSX some assistance with achieving great administration alongside assuming careful part in guaranteeing viable requirement of the administrative system and speculator security as a self-administrative association. The arrangements have additionally been made with a perspective to bring differing qualities and collaboration and encourage national level representation on the administering body of the trade.

SECP announces board of directors for PSX

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has designated conspicuous experts to go about as autonomous executives...

Engro Corporation announces PAT of Rs 13.784b

0 Business, News 07:11:00

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<img src="http://www.dailytimes.com.pk/print_images/456/2016-02-23/engro-corporation-announces-pat-of-rs-13-784b-1456188598-3797.jpg" /> 
 
KARACHI: Engro Corporation declared its year-finished results showcasing a solid execution in general in its organizations. Be that as it may, on a united premise, the stellar execution of manure, the initiation of business exercises at the LNG terminal and the consenting to of major monetary arrangements for SECMC were held under wraps by a testing business environment in its rice and polymer organizations. By and large, Engro Corporation had another extraordinary year running with record income of Rs 184,264 million as against Rs 175,958 million in 2014 on a united premise, accomplishing a 4.7% YoY top line development. In spite of the difficulties postured in some of its key organizations, the organization posted a merged benefit after-expense (owing to proprietors) of Rs 13,784 million instead of Rs 7,007 million amid 2014. Productivity was driven by Engro Fertilizers, which had another remarkable year on the back of two-plant operations attributable to proceeded with gas supply consistently. Engro Corporation effectively rebuilt its manure exchanging and rice organizations as EXIMP was procured by Engro Fertilizers while Engro EXIMP Agriproducts was obtained by Engro Corporation. Be that as it may, the productivity was somewhat balanced by misfortunes in rice business essentially because of non-money weakness loss of Rs 3,384 million booked against property, plant and hardware and stores and extras. Likewise, the petrochemicals business, in accordance with the bearish worldwide item costs, endured misfortunes because of declining Ethylene-PVC value delta. The organization likewise declared a last money profit of Rs 7/offer for the year finished December 31, 2015. Engro Powergen, an entirely possessed auxiliary of Engro Corporation, which claims and works Engro Powergen Qadirpur Limited (EPQL) and which went into a joint endeavor with the Sindh government to shape the Sindh Engro Coal Mining Company, finished overburden evacuation of 3.7 million Banked Cubic Meter (BCM) under SECMC and in addition consenting to real financing arrangements for the task in December 2015. Monetary close of the undertaking is normal inside of the year of 2016.</div>

Engro Corporation announces PAT of Rs 13.784b

KARACHI: Engro Corporation declared its year-finished results showcasing a solid execution in general in its organizations. Be that as it...

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