Visa records almost 90% increase in card transactions Andi Haswidi, The Jakarta Post, Jakarta Increasing numbers of people appear to be moving away from cash and turning to plastic. Visa Indonesia announced Thursday that the total value of transactions made using Visa electronic cards grew by 89.7 percent in the 12 months up to the end of June 2006, with total transaction value being US$26.44 billion. This record high reaffirms Visa's position as the market leader in the Indonesian card market.

Govt wants quid pro quo for risk guarantees Urip Hudiono, The Jakarta Post, Jakarta The government, in return for agreeing to provide loan guarantees for major infrastructure projects, will expect investors to deliver the projects on time and to fulfill their output targets. A failure to do so, State Minister for National Development Planning Paskah Suzetta said Thursday, could lead to the government seeking compensation, or to reduce the scope of its risk guarantees.

GE pinning high hopes on Indonesian economy Benget Simbolon Tnb., The Jakarta Post, Jakarta Despite Indonesia having yet to fully recover from the financial crisis, and bedeviled by seemingly intractable problems with the legal system and bureaucracy, giant multinational General Electric still has high hopes of the country. "Indonesia is really, I think, the lynchpin of Asean (Association of Southeast Asian Nations).

Four private firms win CPO auction Jakarta (ANTARA News) - Four private companies have won a crude palm oil (CPO) sales bid which was held at the joint marketing office of PT Perkebunan Nusantara (PTPN) plantation company on Thursday, a PTPN official said.