Khazanah Nasional, the Malaysian government's investment arm, confirmed it will merge Lippo Bank and Bank Niaga in Indonesia, creating the country's sixth largest bank by assets to comply with competition regulations, The Financial Times reported Monday (31/12/07).

PT Bakrie Sumatra Plantations said Wednesday (2/1/08) it has raised its stake in Agri Resources BV to 25% after acquiring an additional 5% stake for $8.24 million, Thomson Financial reported. Agri Resources BV, which is incorporated in the Netherlands, is a joint venture between Bakrie and Singapore's Agri International Resources Pte Ltd, which is owned by equity investors. Agri Resources BV was created as a vehicle to acquire palm oil plantations in Indonesia.

Karimun District administration in Riau Islands province will soon build a container port on a 70-hectare plot of land only 25-minutes sailing from Singapore and Malaysia, Asia Pulse reported Friday (4/1/08). The container port is badly needed to meet market demand as well as to support the operation of the special economic zone (KEK) and to prepare a free trade era, said Nurdin Basirun, Karimun's district head.

Indonesia’s special envoy to the Middle East, Alwi Shihab, says he expects up to $5 billion in investment from the region this year, The Jakarta Post reported on Saturday (5/1/08). He said agreement on a $1 billion investment fund with the Qatar Investment Authority late last year should unlock other commitments. He added that in 2007 countries from the region had already invested some $2.55 billion through joint venture companies operating in infrastructure, chemical products and tourism.

The number of tourists visiting Indonesia jumped 14% in the first 11 months of 2007 compared to the same period a year ago, Central Bureau of Statistics data showed Wednesday (2/1/08), Agence France-Presse reported. The 4.11 million arrivals were boosted by a resurgence of tourism in Bali, which saw a 32.3% increase to 1.59 million visitors in the January to November period.

Unemployment in Indonesia fell to 9.1% in August 2007 from 10.3% a year before, Dow Jones reported Wednesday (2/1/08). The Central Statistics Agency (BPS) said the number of jobless dropped to 10.01 million people in August from 10.93 million a year before. At the same time, the labor force expanded to 109.95 million people from 106.39 million.

The country's non-oil and gas exports may grow at a slower pace of 14.5% this year compared to the 16-16.5% pace estimated for last year amid weaker global demand, Trade Minister Mari Pangestu said Friday (4/1/08), Thomson Financial reported. The ministry had previously projected non-oil and gas exports would grow 14-18% this year from $93 billion estimated for 2007.