Indonesian Political, Business & Finance News

Archive: 28 March 2007

5 articles found

Capital Investment Draft Bill Pro-Foreign Investors

TEMPO Interactive, Jakarta: The government has confirmed that the Draft Bill on Capital Investment, which the Trade and Industry Commission of the House of Representatives (DPR) has approved, does not differentiate between local and foreign investors. “Indonesia does not differentiate between local and foreign investors. This would not speed up capital investment and efforts to increase domestic capital investment,” said Industry Minister Fahmi Idris yesterday (03/27).

ADB: Indonesia's Economic Development Continues Improving

TEMPO Interactive, Jakarta: Indonesia’s economic improvement in 2007-2008 will continue rising. This optimism has been stated by the Country Director of Asia Development Bank (ADB) Edgar A. Chua. According to ADB's predictions, the growth in Indonesia's economy this year is estimated to reach six percent of GDP, while the following year growth will be higher at 6.3 percent.

Pertamina Acknowledges LPG Scarcity

TEMPO Interactive, Jakarta: PT Pertamina has acknowledged that there is a scarcity of Liquefied Petroleum Gas (LPG) in several regions in Indonesia. Toharso, Pertamina’s spokesperson, said that the shortage of LPG supplies was because Processing Refinery Unit V in Balikpapan was carrying out annual scheduled maintenance (turn around).

Bill ends government railway monopoly

Under the spotlight of a massive rally in front of the State Palace, the House of Representatives approved Tuesday the rail transportation bill, allowing the private sector to take part in the rail industry. All 10 factions at the House gave their support to the bill in a plenary session here in an effort to reform the much-criticized public transportation system in the country. They said the rail industry had to become more competitive but continue to provide cheap transportation.

Politics of corruption in Indonesia

JAKARTA - Indonesia's politics of corruption has always been murky, with untold billions of dollars spirited from state coffers into politicians' personal accounts during strongman Suharto's 32-year tenure. But never before have graft allegations been so politically charged, with mounting opposition complaints that President Susilo Bambang Yudhoyono's anti-corruption drive has disproportionately netted opposition politicians.