Thank fuck for that. What with Fast Net and this, surfing in Indonesia is finally getting up to speed.

Trade Minister Mari Elka Pangestu called on Indonesian and Australian businesses to diversify the types of goods and services traded between the two countries as their governments take soundings on the establishment of a free trade agreement. Acknowledging that exports to and imports from Australia are booming this year, she told the Indonesia Australia Business Council (IABC) that the types of goods and services traded between the two nations have remained relatively unchanged.

PT Exelcomindo Pratama officially launched Monday a new submarine fiber optic cable network linking Batam with Johor, which gives the country's third largest mobile operator the largest telecoms backbone network in the country. The network, which cost around US$10 million, is mainly aimed at enhancing the company's services to individual and corporate customers for internet traffic and data loading purposes.

The Investment Coordinating Board (BKPM) has reported steady and sharp increases in new foreign investment approvals amid persistently negative perceptions among foreign businesspeople and analysts of Indonesia's investment climate. Most foreign investors and business consultants still consider the country one of the least attractive places in Southeast Asia for direct investment due to numerous impediments to business operations.

Jakarta (ANTARA News) - Investment in Indonesia during the first 10 months of the year rose 113 percent from a year ago to a record 114.70 trillion rupiah (12.5 billion dollars), an official said Tuesday. The figure, for actual domestic and foreign direct investments, exceeded the previous record of 111.44 trillion rupiah set for the same period in 2005, chairman of the National Investment Coordinating Board Muhammad Lutfi said.

Since its establishment in June 2000, the Indonesian Business Competition Supervisory Commission (KPPU) has issued a long list of rulings. The binding rulings, which are weakly enforced, are often protested against by companies found guilty by the commission of committing monopolistic practices. The sort of reactions received by the KPPU vary from supportive to severely hostile.

TEMPO Interactive, Jakarta: Lim Say Boon, Chief Investment of Strategist Standard Chartered Bank, said that investors’ funds that came from developed countries amounting to US$2.5 trillion have flooded the financial markets of developing countries since the subprime mortgage crisis and world oil price increases. “The funds have entered the financial markets of China, India and Indonesia,” said Lim during a Wealth Management seminar presentation in Jakarta, Monday (12/11).

Batam-based electronics component maker PT Sat Nusapersada plans to build a new factory and acquire stakes in two other companies next year to expand its operations and meet growing demand for its products, The Jakarta Post reported. President director Abidin told reporters Thursday (8/11/07) that the company would buy a stake in PT SM Engineering and the assets of PT Sat Nusapersada Brothers at a cost of Rp23 billion (around $2.5 million).

The World Bank continued to be upbeat on Indonesia’s economic prospects, with country head Joachim von Amsberg predicting expanding growth in 2008, despite global economic problems. Von Amsberg said the bank predicted 6.4% growth next year, just above this year’s expected figure of 6.3% but below the government’s own projection for 2008 of 6.8%. The prediction is based on stronger inflows of foreign investment to the country, Asia Pulse reported.

TEMPO Interactive, Jakarta: Several circles have urged the government be open in discussing the Draft of President Regulation on Modern Markets. So far the parties with interests in the policy (stakeholders) have acknowledged that they have not been involved yet as regards formulating the policy. “We haven’t been asked for a dialog by the government for a long time,” Susanto, General Chairman of the Indonesian Modern Market Suppliers Association, told Tempo last weekend.

TEMPO Interactive, Jakarta: Health Minister Siti Fadilah Supari has acknowledged that Indonesia’s human development index is still low. Last year, Indonesia was in 108th position out of 177 countries in the world. “Much lower than ASEAN (Association of Southeast Asian Nations) neighboring countries, such as the Philippines, Thailand, Malaysia and Singapore,” she said during the ceremony celebrating “National Health Day,” at the Senayan Sports Hall, Monday (12/11).

Jakarta (ANTARA News) - PT Astra Agro Lestari`s (AALI`s) crude palm oil production in October 2007 increased by 11.6 percent to 88,343 tons from 79,161 tons in September, a company executive said here Monday. AALI Director Santoso in his report to the Jakarta Stock Exchange said the increase was attributed to enough rainfall in the country.

Denpasar (ANTARA News) - Bali`s handicraft exports to East Europe during the January-September period in 2007 reached a total value of US$2.1 million, the head of Bali`s industry and trade office`s foreign trade section, Ni Wayan Kusumawathi, said here Monday. Bali`s exports of non-oil/non-gas commodities were encouraging and the province was expected to maintain its performance, Ni Wayan said.