A worker checks the quality of crude palm oil (CPO).

Indonesia lowers crude palm oil export tax to 12 pct for May

REPUBLIKA.CO.ID, JAKARTA - Indonesia, the world's top producer of palm oil, lowered its export tax for crude palm oil (CPO) to 12 percent for May from 13.5 percent in April. Oke Nurwan, export director of agriculture and forestry products at Indonesia's Trade Ministry, said that. The government left the cocoa export tax unchanged at 10 percent for May, he told...

Garuda Indonesia's fleet (illustration)

Fitch Downgrades Garuda to 'A-'

REPUBLIKA.CO.ID, JAKARTA - Fitch Ratings has downgraded PT Garuda Indonesia Tbk's (Garuda) National Long-Term Rating to 'A-(idn)' from 'A(idn)'. The Outlook is stable. At the same time, Garuda's outstanding IDR 2 trillion bonds due in 2018 have also been downgraded to 'A-(idn)' from 'A(idn)'. 'A' National Ratings denote expectations of low default risk relative to other issuers or obligations in...