NATIONAL

SBY urges ASEAN to be prepared for tough times

Rendi A. Witular, The Jakarta Post, Nusa Dua | Fri, 04/08/2011 10:40 AM | National
Protracted global imbalances, upward pressure on commodity prices, and the fallout from natural disasters
and climate change are the most daunting challenges ASEAN members must address, President Susilo
Bambang Yudhoyono says.

The future challenges were cited by Yudhoyono in his speech marking the opening of the 15th ASEAN
(Association of Southeast Asian Nations) finance ministers meeting in Nusa Dua, Bali, on Friday.

"There should be a concerted coordination among ASEAN members and the setting up of a global
surveillance system to address the future challenges," said Yudhoyono.

"ASEAN needs to be adaptive and responsive to these challanges."

Among the imminent impacts of these challenges, he said, was the vulnerability of food and energy security.

Instabilities in the Middle East have caused oil prices to rise above US$100 per barrel, while weather
uncertainties have undermined productivity in the argriculture sector.

Because of the unprecedented weather patterns, Indonesia has seen a disruption in its rice self-sufficiency
program this year, and is planning to import to meet demand.

The country's imports of soybeans have skyrocketed by more than 15 percent this year, according to data
from the Agriculture Ministry.

Later this evening, the finance ministers are scheduled to work on new economic policies aimed at
strengthening development in the region.
BUSINESS

BI tells Citibank to stop processing new credit card

applications
Damar Harsanto, The Jakarta Post, Jakarta | Thu, 04/07/2011 8:07 PM | Business
Bank Indonesia has told embattled Citibank to stop processing new credit card applications pending the
investigation into the death of Irzen Octa, an alleged victim of violence by Citibank debt collectors.
Citibank Indonesia vice president for customer care, Hotman Simbolon, told The Jakarta Post on Thursday
that the ruling was a sanction in addition to another sanction handed down on Wednesday to freeze new
Citigold service applications.
“These are the sanctions imposed by BI on Citibank so far,” Hotman said.
The freezing of Citigold is related to the alleged embezzlement of at least Rp 17 billion (US$2 million) in
client funds implicating its senior relationship manager Inong Malinda aka Malinda Dee.
Hotman, however, assured that other Citibank banking operations would continue including services for
existing Citibank credit card holders.
Citibank is scheduled to meet the House of Representatives on Friday at 2 p.m. to hear recommendations
from the House following its recent probes into the case.