The Commonwealth Bank of Australia (CBA) is close to completing its acquisition of a 95% stake in Surabaya-based Bank Arta Niaga Kencana, the founder of the Indonesian bank Harry Wijaya said Wednesday (25/7/07), according to Dow Jones Newswires.

State-owned pawn shop operator PT Perum Pegadaian said it plans to issue 10-year bonds worth Rp600 billion ($66.6 million) to strengthen its working capital.The fixed-and/or floating-rate bonds will be divided into series-A bonds worth Rp400 billion and series-B bonds worth Rp200 billion, the...

State asset management firm PT PPA sold the luxury Bali Nirwana hotel in Bali for Rp510.8 billion ($55.97 million) to Singapore's E-Crisps Trading Ltd, PPA said on Thursday (26/7/07), according to Reuters.

PT Asian Agri plans to invest Rp1.3 trillion ($142.9 million) to build crude palm oil factories to increase its production by up to 10%, The Investor Daily reported on Thursday (26/7/07).The daily quoted Semion Tarigan, director of one of its units, PT Inti Indosawit, as saying the firm plans to...

Recent improvements in Indonesia's macroeconomic indicators are improving confidence in the economy as a whole, with the central bank's latest survey showing estimates of higher growth built on more investment and a continued increase in bank lending for the year.

To encourage the use of environmentally friendly fuel, the government is considering a regulation that will make the use of biofuel mandatory, particularly in Java and Sumatra, an official said Saturday.Evita H.

As one of the top industries that have the potential to push Indonesia's economic growth above 7 percent, the electronics industry should be able to double exports to US$15 billion by 2010, the Indonesian Chamber of Commerce and Industry (Kadin) has said.