Etisalat today announced the acquisition of 15.97% in the Indonesian mobile operator Excelcomindo, the third largest mobile operator in Indonesia. Etisalat has agreed to pay $438m (Dhs1.6bn) for the stake, implying the equity value of Excelcomindo to be $2.742bn (Dhs9.955bn). With this acquisition, Etisalat now operates across 16 countries worldwide.

TEMPO Interactive, Jakarta: Entrepreneurs are pushing the government to realize its promise to provide tax holidays. “During this uncertain situation, we’re asking the government not just to talk about giving tax holidays. Take a concrete measure and complete the Tax Bill,” Sofjan Wanandi, General Chairman of Indonesian Businesspeople Association, told Tempo, yesterday (11/12).

Jakarta (ANTARA News) - Indonesian domestic cement consumption rose five percent in November on a year earlier and was 35 percent higher than in October, the Association of Cement Producers said Thursday. The association's chairman, Urip Timuryono, said cement consumption bounced back to 3.38 million tons in November after falling to 2.50 million tons in October. The low base in October was largely due to a lengthy holiday, which meant there were fewer working days in the month.

The public debates over the role of tax holidays in attracting investment that Chairman of the Investment Coordinating Board (BKPM) Muhammad Lutfi revived last week could distract the government from the real reforms needed to reinvigorate the economy.