Daily Archives: July 22, 2018

CNH Industrial appoints new Chairman

London, July 21, 2018

The Board of Directors of CNH Industrial meeting today noted with deep regret that Chairman Sergio Marchionne will be unable to return to work. The Board has therefore named Suzanne Heywood as Chairman.

The Board will continue the process that is already under way to select a new CEO. In the meantime Derek Neilson will continue, in his role as the Company’s Interim CEO, to ensure the Company’s operational continuity.

In addition, the Board wishes to recognise the extraordinary leadership and commitment Sergio Marchionne brought to the company. Their thoughts go out to him and his family.

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com

Contacts:

Corporate Communications

Email: mediarelations@cnhind.com

Investor Relations

Email: investor.relations@cnhind.com

Attachments

INDONESIA, EU TO ESTABLISH MOST MODERN TRADE AGREEMENT

BRUSSELS, The fifth round of talks on the Indonesia-European Union Comprehensive Economic Partnership Agreement (I-EU CEPA) will prepare the most modern trade agreement, as it covers several specific issues not addressed earlier.

The recently-concluded fifth round of talks, which took place in Brussels, not only covered discussions on trade in goods but also the trade of services, investments, and other forms of cooperation, Trade Ministrys International Trade Negotiations Director General, Iman Pambagyo, said in a statement.

Among the specific issues discussed were energy and raw materials (ERM), for which negotiations were held by Energy and Mineral Resources Ministrys special staff for Investment and Infrastructure Development Prahoro Yulijanto Nurtjahyo and staff for Strategic Planning Yudo Dwinanda Priaadi.

The ERM negotiations are targeted for completion in September 2018.

ERM-related issues discussed cover EUs keenness to secure access to energy and minerals from Indonesia, including ways to enforce the application of the mineral exit duty.

The discussion continued with the spotlight on Indonesias stance to prioritize state sovereignty in the management of energy and mineral resources.

“Related to raw materials, Indonesia aspires to increase the added value. It is mandated by the law related to export duty on minerals, and discussion on the matter involves several ministries, including the energy and mineral resources ministry, trade ministry, industry ministry, and finance ministry,” Priaadi stated.

The second topic discussed related to the implementation of energy business activities, wherein the EU has sought certainty in doing business in Indonesia.

He explained that the EU had also put forth a proposal for oil and gas blocks not sold at auctions to be handed over directly to them.

However, Priaadi explained that such a step could not be taken, as current rules encourage companies to be competitive in doing business.

“Please follow the auction. If it is competitive and can provide the best proposal, it can be given (the right of management). The government continues to improve the ease of doing business activity,” Nurtjahyo stated.

He also asserted that highlighting simplified policies and streamlined regulations, among others, will demonstrate Indonesias position in the ERM negotiations.

“It is very beneficial for the EU, so they finally know and can reiterate the perfection of the draft ERM proposal,” he noted.

The third ERM-related issue discussed was that both parties also agreed to encourage the implementation of international standards in energy and mineral business activities, especially related to safety.

Furthermore, it was agreed to conduct various research activities, development, and innovation related to ERM, mainly concerning renewable energy and energy efficiency.

Related to the palm oil issue, after the conclusion of negotiations, Pambagyo conveyed that the EU-Indonesia negotiations are bigger than the palm oil issue, as they also concern the commodity trade in goods, services, investments, and other forms of cooperation.

Although in trade, the contribution of palm oil is quite large, but Indonesia is also looking to raise that of other commodities.

“We are continuing this negotiation, but we are still echoing our concern about palm oil, as we receive discriminative treatment there,” Pambagyo noted.

Source: NAM News Network

INDONESIA, EU TO ESTABLISH MOST MODERN TRADE AGREEMENT

BRUSSELS, The fifth round of talks on the Indonesia-European Union Comprehensive Economic Partnership Agreement (I-EU CEPA) will prepare the most modern trade agreement, as it covers several specific issues not addressed earlier.

The recently-concluded fifth round of talks, which took place in Brussels, not only covered discussions on trade in goods but also the trade of services, investments, and other forms of cooperation, Trade Ministrys International Trade Negotiations Director General, Iman Pambagyo, said in a statement.

Among the specific issues discussed were energy and raw materials (ERM), for which negotiations were held by Energy and Mineral Resources Ministrys special staff for Investment and Infrastructure Development Prahoro Yulijanto Nurtjahyo and staff for Strategic Planning Yudo Dwinanda Priaadi.

The ERM negotiations are targeted for completion in September 2018.

ERM-related issues discussed cover EUs keenness to secure access to energy and minerals from Indonesia, including ways to enforce the application of the mineral exit duty.

The discussion continued with the spotlight on Indonesias stance to prioritize state sovereignty in the management of energy and mineral resources.

“Related to raw materials, Indonesia aspires to increase the added value. It is mandated by the law related to export duty on minerals, and discussion on the matter involves several ministries, including the energy and mineral resources ministry, trade ministry, industry ministry, and finance ministry,” Priaadi stated.

The second topic discussed related to the implementation of energy business activities, wherein the EU has sought certainty in doing business in Indonesia.

He explained that the EU had also put forth a proposal for oil and gas blocks not sold at auctions to be handed over directly to them.

However, Priaadi explained that such a step could not be taken, as current rules encourage companies to be competitive in doing business.

“Please follow the auction. If it is competitive and can provide the best proposal, it can be given (the right of management). The government continues to improve the ease of doing business activity,” Nurtjahyo stated.

He also asserted that highlighting simplified policies and streamlined regulations, among others, will demonstrate Indonesias position in the ERM negotiations.

“It is very beneficial for the EU, so they finally know and can reiterate the perfection of the draft ERM proposal,” he noted.

The third ERM-related issue discussed was that both parties also agreed to encourage the implementation of international standards in energy and mineral business activities, especially related to safety.

Furthermore, it was agreed to conduct various research activities, development, and innovation related to ERM, mainly concerning renewable energy and energy efficiency.

Related to the palm oil issue, after the conclusion of negotiations, Pambagyo conveyed that the EU-Indonesia negotiations are bigger than the palm oil issue, as they also concern the commodity trade in goods, services, investments, and other forms of cooperation.

Although in trade, the contribution of palm oil is quite large, but Indonesia is also looking to raise that of other commodities.

“We are continuing this negotiation, but we are still echoing our concern about palm oil, as we receive discriminative treatment there,” Pambagyo noted.

Source: NAM News Network

INDONESIA DEPORTS FRENCH DRUG SMUGGLER AFTER 18 YEARS

JAKARTA, A Frenchman who served 18 years in custody for smuggling drugs into Bali was deported on Saturdayin a case that sparked outrage in his native country over Indonesia’s tough narcotics laws.

Police arrested Michael Blanc on the day after Christmas in 1999 at the tropical island’s airport with 3.8 kilogrammes of hashish hidden inside scuba diving canisters.

The now 45-year-old was originally given a life term – narrowly escaping the death sentence handed to some other foreign drug traffickers, including two members of the notorious Bali Nine who were executed in 2015.

Blanc’s prison term was later cut to 20 years and then in 2014 he won something that few foreigners get in Indonesia – parole.

The former cook arrived at the airport in Jakarta escorted by Indonesian immigration officials, and accompanied by his mother, Helene Le Touzey, who gave up her life in France to spend nearly two decades in Indonesia campaigning for his release.

The two departed on a Turkish Airlines flight at 9 pm local time. They are expected in France on Sunday.

The life sentence handed out by an Indonesian court, which rejected Blanc’s claim that he was carrying the drug-filled gear for a friend, was criticised in France as overly harsh.

Paris raised the issue at the highest levels, with the then-prime minister Francois Fillon bringing it up during a visit to Indonesia in 2011.

In 2008, Blanc’s sentence was cut to 20 years thanks in large part to his mother’s efforts.

Le Touzey later helped secure her son’s parole in 2014, despite the fact that Indonesian law does not usually allow conditional release of foreigners after serving just two-thirds of their sentence.

Blanc’s three-year parole period ended in July 2017, after which he was required to finish one year of probation.

Indonesia has some of the world’s toughest drug laws.

More than 70 people, including 42 foreigners, are facing the firing squad for drug offences, according to the Coalition for the Abolition of Death Penalty in ASEAN (Association of Southeast Asian Nations).

Indonesia has executed several drug traffickers since President Joko Widodo took office in 2014.

Among them were foreign nationals, including two Bali Nine members arrested in 2005 for an attempt to smuggle heroin from Indonesia to Australia.

The executions of Australian ringleaders Andrew Chan and Myuran Sukumaran sparked diplomatic outrage and a call to abolish Indonesia’s death penalty.

Although Jakarta suspended executions last year, Widodo has said the country is facing a “drug emergency” and previously ordered police to shoot traffickers who resist arrest.

High-profile cases like that of Australian national Schapelle Corby, who spent more than nine years behind bars for smuggling marijuana into Bali, have stoked concern that Indonesia is becoming a drug destination.

Corby was deported in 2017 after several years of parole.

Source: NAM News Network