By Reuters Staff
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JAKARTA, Feb 16 (Reuters) - Indonesian President Joko Widodo has named the chief executive of Bank Permata, Ridha D.M. Wirakusumah, as the chief executive of the country’s new sovereign wealth fund, CNBC Indonesia reported on Tuesday, citing sources.
The president is due to formally announce the appointment to the public later today, the news outlet reported.
The president’s office did not immediately respond to a request for comment, while a spokesman at the state-owned enterprises ministry declined to comment. (Reporting by Gayatri Suroyo, Maikel Jefriando and Tabita Diela Editing by Ed Davies)
By Reuters Staff
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BEIJING, Jan 29 (Reuters) - China’s banking and insurance regulator issued draft rules on Friday in which emphasized stronger Communist Party leadership in both state-owned and private banks and insurers to contain corporate governance risks.
The draft rules urged state-owned banking and insurance institutions to prioritize the key business decisions made by the Communist Party committee before consulting the board and the top leadership, according to statements of the China’s Banking and Insurance Regulatory Committee. (CBIRC)
It also limited the number of financial institutions one single individual can be appointed to as the independent director in order to restrain interest transfers. It also urged all lenders and insurers to shoulder responsibilities in environmental, social and corporate governance, a relatively new concept to Chinese financial institutions.
Indonesia's sovereign wealth fund will focus on investment in toll roads in its first review of $9.5 billion worth of infrastructure projects for its assets, its newly appointed chief executive said on Tuesday.