Thus George Papandreou said in an interview with Fareed Zakaria of CNN, as reported by Bloomberg news agency on Sunday (05/16/2010).

However, neither Papandreou and Zakaria does not mention specifically the possibility of the bank’s name will be sued.

Papandreou stressed, the decision to sue will be taken after an investigation of the Greek parliament on the causes of the crisis.

“Greece will see the past, and explore how the crisis can happen,” he said.

This investigation is equivalent to investigations in other countries or in the United States.

“I do think, one of the causes of the crisis was the pressure from the financial sector, which I hear is less transparent,” said Papandreou.

Nevertheless, with heartened, Papandreou stressed that Greece had done nothing wrong.

“Please give us a chance, and we’ll prove to the world,” he said.

Various models of banking services in the Gallery of Bank Mandiri, Plaza Mandiri, Sudirman Central Business District (SCBD), Jakarta, Monday (22 / 3). Mandiri said its net profit growth in 2009 amounted to Rp 7.16 trillion, up 34.7 percent compared to 2008 amounting to Rp 5.31 trillion.
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JAKARTA, KOMPAS.com – Annual General Meeting of Shareholders (AGM) of Bank Mandiri, Monday (17/05/2010), approved a bonus, or tantieum to Board of commissioners and directors of Bank Mandiri amounting to 1.16 percent of net profit achieved per year 2009.

This was conveyed by the Deputy Director of the new Bank Mandiri Riswinandi in a press statement after the AGM at Plaza Mandiri. “Tantieum, the percentage is 1.16 percent of earnings,” he said.

Thus, the net profit amounting to Rp 7.16 trillion approved, means that given a bonus of Rp 83.056 billion. This amount will be distributed to the six officers who sat in the ranks of the eleven commissioners and officials at the board of directors.

Bank Mandiri Finance Director Pahala N Mansury adding that there are no bonuses or tantieum percentage increase in the GMS. In addition, Pahala asserted that there was no discussion or decision of salary increase from the previous year.

. Because corporate action that was to be read from the market over a year ago when the Bank Indonesia (BI) introduces a policy package single presence policy (SPP).

Bank Niaga & LippoBank a subsidiary Khazanah Nasional Berhad of Malaysia. The same thing happened in Bank Internasional Indonesia (BII) and Bank Danamon. Since the beginning of the banks were speculating tuition policy to limit the birth because of the dominance of banks owned by Singapore and Malaysia who started menggurita in Indonesia.

However, whether unconscious or deliberate, this SPP policy on state-owned banks are certainly not easy to implement because many political and social interests of the complex. The question is, whether the merger plan-LippoBank Bank Niaga, Danamon and BII really happening?

Not only that. Is the wave of merger will occur as BI appetite for banks that lack of capital in line with the objectives of the Indonesian Banking Architecture (API)? Or just good merger and difficult diomongkan realized?

Since the banking crisis of 1989, there were three events of the greatest merger, the merger of four state banks into Bank Mandiri, the merger of nine banks into Bank Danamon, and the merger of four banks into Bank Permata.

In addition, there is a bank merger is smaller, which is now the Century Bank or the Bank introduced the concept of API in 2004. The rest of the event is just talking big merger of the bank owners and bankers to just “fun” BI.

The principle is often adopted merger among other businesses, if two plus two results are not four, but could be five or six, even 10, because the merger is a synergy.

Now, the question why banks are difficult mergers, but so great benefits? In fact, BI itself is so bernafsunya pressing banks to merge, either through funding or tuition fee policy.

Merger Incentive

Many of the reasons why mergers difficult. But according to research firm notes InfoBank, there are three reasons why the merger hard to do banking in Indonesia.

First, differences in vision, mission, and culture of each bank, which would require adjustment time. Since it difficult to place flexibility in integrating capabilities, financial, and infrastructure. Thus, forced mergers between banks with different owners who would be difficult to produce a healthy bank.

Second, conflicts of interest and there antarpemilik bank has a bank of pride that comes a sense of pride for the merger. There was a statement, it’s better to be king in a small bank compared to the neck in a big bank merger. So, step merger will eliminate the influence of votes and the reputation of the bank owners.

Third, the tax issue is the lack of incentive memberatkan.Tepatnya in matters of taxation in the context of a merger or other incentives such as the ease of expansion or ease in opening branches. Problem is that taxation may be resolved very urgent because it is still a long attraction between the BI and the Ministry of Finance in this regard the Directorate General (DG) Taxes.

Banking merger in Indonesia is not new news. Mergers often and even very often the case that banks are owned by one hand. Plus is owned by the government such as Bank Mandiri, Bank Danamon, and PermataBank (before didivestasi).

If the same ownership, will easily eliminate the first and second factors. While if the same ownership by the government, certainly easier in terms of taxation because it only concerns the right pocket and left pocket.

Well, based on the facts above, voluntary mergers of different ownership certainly difficult. Prediction, the merger wave will certainly not happen until 2010 or last year of consolidation. However, if the merger incentives are given, can be voluntary merger will happen.

In fact, different banks antarpemilik though since the merger as tax incentives to encourage owners are banks. However, if not given the incentive, it might be a place is a merger of one such property-LippoBank Bank Niaga and Bank Danamon, BII.

It is estimated that the merger of Bank Niaga-LippoBank going smoothly because, apart from the owner wants to merge to become the major banks, they also can work together: LippoBank strong in the retail market, Bank Niaga is strong in consumer markets and corporate banking.

Lippobank have cheap funds and Bank Niaga more expensive funds. While the merger BII, Bank Danamon was not expected to occur if there is no tax incentives. In addition to its valuation of shares differs significantly between the two banks, is also not much to disinergikan and also taxable.

BII is estimated to be released by the Temasek Group because if it merged with Bank Danamon force will not have significant business synergies.

Both the market and is also almost the same capabilities. However, if they really do mergers, to consider the impact on employees.

Step merger is always followed by layoffs for its employees. Especially for supporting employees in the central office. But layoffs are not something the bank employees had feared that always ended with a golden handshake, greeting stickers or pesangonnya always great when a bank employee layoffs occur.

Along with the merger have also supervised the transfer of assets or the elimination of credit, especially credit-credit group. Mergers usually can also lead to moral hazard in the merging bank’s assets.

For that, need more surveillance and carefulness of Bank Indonesia. Finally, the merger will only occur in bankbank owned by one group or one ownership. It was difficult to place on a voluntary basis among the different owners of the bank.

If the tax incentives in the form of merger or operational convenience in the bank, the merger is a great way. That is the dilemma now. On the one hand to the merger of BI to facilitate the monitoring and strengthening the capital structure, on the other side of the Ministry of Finance did not want to lose tax revenue in the form of merger.

If so, the merger easier diomongkan expensive in the country for this coordination matters. Or, because the banking consolidation policy was launched BI market is not frienly, only the BI alone knew the goal while the banks do not know the importance of goals.

In fact, the consolidation of banks tend not to answer the needs of banks today, who still likes to buy certificates of Bank Indonesia. (SBBI)

JAKARTA – Since the days of Sukarno became the first president of Indonesia to have changed six times president, international donor agencies the World Bank is always “faithful” menggerojoki debt. Want to know the total?

World Bank or the World Bank has been active in Indonesia since 1967. At that time, Indonesia needs enough money to fund the construction. While the State of Equatorial Emerald is still not able to fund infrastructure programs.

“From that time until now, the World Bank has financed more than 280 development projects and programs valued at $ 26, 2 billion in all economic sectors,” says Managing Director of The World Bank Group Ngozi Okonj, the discussion of issues of poverty, governance, and economic , at Hotel Mulia, Senayan Jakarta, Wednesday (30/1/2008).

If you converted the amount equivalent to Rp243, 725 trillion (Rp9.302 per USD).

These loans, he said, has used the Indonesian government to support the development of energy, industry, and agriculture. While the most dominating sector during the first 20 years of infrastructure that gift to the poor.

While the current lending World Bank consists of 28 projects worth $ 2, 9 billion or equivalent to Rp26, 977 trillion, with the remaining funds are not disbursed $ 1, 7 billion or equivalent to Rp15, 814 trillion.

MADRID – the Asian development Bank (ADB) will disburse the funds of 800 million yuan, or approximately USD114, 5 million (equivalent to Rp1, 064 billion) to support energy efficiency programs in the sectors of small and medium businesses in China.

Assistance will be distributed in the form of credit through the Standard Chartered Bank appointed by ADB. Deputy Director General of ADB’s Operations Department S Chander says, China is selected because its energy consumption level of the second highest in the world so be one significant contributor to the greenhouse effect phenomenon.

“Targeted, there will be 20-40 percent energy savings,” he said in a written statement of ADB, Monday (5/5/2008). Related work with Standard Chartered Bank, Chander said, in addition to channel aid, international banks will join the credit risk with ADB.

“Standard Chartered Bank will also contribute to promote energy efficiency projects globally,” he said.

Meanwhile, the Chief Executive of Standard Chartered Bank for Asia Jaspal Singh Bindra welcomed cooperation with the ADB since Asia is the core market this international banks. “We are pleased to be the first bank to be working with ADB in this energy programs,” he said

Oversea-Chinese Banking Corporation Limited (OCBC Bank) officially completed the acquisition of ING Asia Private Bank Limited and its subsidiaries (IAPB) based in Singapore with an investment of around U.S. $ 1.45 million or $ 2.02 Sin million.

With the completion of the acquisition process, the IAPB now renamed Bank of Singapore Limited (the Bank of Singapore), officially became a subsidiary wholly owned by OCBC Bank.

Bank of Singapore will be led by Renato (Bing) de Guzman, who previously also served as CEO IAPB. All the Private Banking business activities IAPB and OCBC Bank will be merged and operate as Bank of Singapore.

Thus the Bank of Singapore will become a leading Private Banking in Asia which has more than 7.000 customers with total customer funds managed some U.S. $ 23 billion. This reinforces a unique position as the only Private Banking, headquartered in Singapore.

David Conner, CEO of OCBC Bank said the success of this acquisition marks an important milestone in our private banking activities. With increasing scale, will bring significant benefits both for customers IAPB Private Banking and OCBC.

“We are committed to continue investing in Private Banking business and provide services which better meet the needs of our customer’s high networth,” said David Conner, CEO of OCBC Bank in a press release yesterday.

Renato (Bing) de Guzman, CEO of Bank of Singapore, said he believed Bank of Singapore will continue to grow and reach a huge market today or in the future.

“We will always focus to attract some of the best Private Banking employees of existing and new to achieve long-term growth and professional development, as part of the OCBC Group.”

OCBC Bank, founded in 1912 and is a financial group by assets, the second largest in Southeast Asia. OCBC Bank have a long-term credit ratings of Aa1 from Moody’s.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and China. Having a network of more than 490 branches and representative offices in 15 countries and regions, including 390 branches and offices in Indonesia operated by OCBC Bank NISP as subsidiaries.

OCBC Bank’s subsidiary engaged in the Great Eastern Insurance Holdings, while other subsidiaries engaged in asset management services, Lion Global Investors, is one of the largest asset management companies in Southeast Asia.

Ministry of Manpower and Transmigration RI and IMM Japan today,  approved the amendment to the implementation of the memorandum of understanding to Japan apprenticeship program, the office of the Ministry of Manpower and Transmigration, Jakarta. The signing of a Memorandum of Understanding amendments made by the Minister of Manpower and Transmigration Muhaimin Iskandar and President of IMM Japan Kyoe Yanagisawa.

According to the minister Muhaimin Iskandar, the implementation of cooperation programs in Japan apprenticeship actually been going on for about 17 years. However, as changes to employment regulations and conditions of the Japanese economy today is an amendment to the memorandum of understanding which already exists.

“We Japanese have the Employment Act so that the new memorandum of understanding that already exists also require adjustments and amendments. Well, today, a new memorandum of understanding was signed,” he explained.

Minister added, Employment Act new Japanese better. “Laws that put workers in Indonesia a better position with the same rights as Japanese workers. Some Japanese companies also raised the current standard of wages of interns from Indonesia,” he said.

For information, apprenticeship program to Japan have been conducted since 1993 up to December 2009 and has managed to dispatch as many as 29,587 interns from Indonesia to Japan. Meanwhile, the current workers who still run apprenticeship programs in Japan amounted to 5668 people.

Apprenticeship program, held in Japan for 3 years. The Indonesian trainee placed in various companies spread in Japan with approximately 56 areas of work, especially in the field of manufacturing industry.

Sri Mulyani explained that the program setting the salaries of state officials have been discussed with the Ministry of Administrative Reform (PAN) and the House of Representatives (DPR). However, Finance Minister did not explain when the discussion was conducted.

“Have you ever discussed about the arrangement, but it all until today not been implemented,” Sri Mulyani said after accompanying the President in the event Feed the World, hosted Chamber of Commerce, Friday (29/1/2010).

The reason, because there are still some things that have not been resolved. Unfortunately, Sri Mulyani reluctant to explain in more detail what the reason. However, Ministry of Finance to ensure that no salary increase plan. “There is no raise, just calm down,” said Sri Mulyani.

Sri Mulyani added, together with the Ministry of PAN has surveyed all state officials, among others, the ministers, Chairman of the House of Representatives, Chairman of the DPD, Chairman of the Assembly, governors, regents / mayor, the Chief Justice, and Chief Justice Kosntitusi. According to Sri Mulyani, the survey was conducted to see equality and balance of each officer in carrying out their duties and functions.

“What I do with that time Minister of PAN is made of scenarios to create a harmony,” he said.

Earlier, Chairman of the House Budget Harry Azhar Azis admitted that the Parliament and government have agreed to raise the state officials. Big budget allocated Rp 158 trillion

The urge was made by the local economic actors, waiting for the results of a policy meeting the Federal Open Market Committee (FOMC) held for two days from Wednesday (16/12/2009).

The Fed has maintained interest rates at levels 0-0,25 percent since December 2008, to withdraw liquidity pressure at that time. In addition, local economists also requested that the Fed is more aggressive again in the pouring trillions of dollars into financial markets to flourish credit.

“With the restoration of conditions which are still running, we saw the Fed has not made many changes. Especially near the end of this year, in which the market would dry up,” ujat Chief U.S. Economist Joseph LaVorgna Deutsche Bank, was quoted as saying by the AFP, Wednesday (16/12 / 2009).

However, market participants First Trust Brian Wesbury says different things. According to him, the Fed is not going to be hasty in changing its policies. “There are two things that influence it, namely unemployment data and inflationary pressures,” Wesbury added.

Just FYI, Uncle Sam’s Economic Affairs in the 3rd quarter of this year could grow in 2009. This growth surprised many parties. The reason is in the same period last year, experienced a contraction due to recession.

In order to maintain such growth, the Fed also asked to speed up recovery program with a variety of measures

In its response to the SEC complaint, Bank of America suggested that the proxy statement for the merger in May contain false or misleading, or leave important facts. He also said he was not negligent in preparing the proxy statement. SEC spokesman John Heine said: “As we alleged in our complaint, Bank of America, not investors, complete and accurate information on premiums, employees of Merrill Lynch to pay.” We want to prove in court that the spread does not violate federal laws on securities, “said Heine. Rakoff earlier this week with a schedule for the case to court in March 1st, 2010 Agreed, months later he wanted. He called the 1. date of March “and firmly established.” Bank of America, headquartered in Charlotte, North Carolina, is facing numerous lawsuits and investigations by regulators and legislators to the merger of Merrill making it the largest U.S. bank.

New York Attorney General Andrew Cuomo has threatened to sue the bank officials, possibly including CEO Kenneth Lewis. Ohio Attorney General Richard Cordray plans Monday, the status of a class of shareholders of the bank. Bank of America fell from 38 cents to $ 16.60 on the NYSE on Friday. They traded at $ 33.74 for the purchase of Merrill announced on September 15, 2008. SEC case against the Bank of America Corp., U.S. District Court, Southern District of New York (Manhattan), No. 09-6829.