Aditya Suharmoko, The Jakarta Post, Jakarta As the government seeks to boost domestic industry in anticipation of a U.S. recession, businesses in turn want an increased effort made to reduce costs, help diversify export destinations, boost bank loans and empower small and medium firms.

Tuesday, 21 October, 2008 | 11:52 WIB TEMPO Interactive, Balikpapan: The number of residents in Balikpapan, East Kalimantan, increases by about 1,500 people every month. The newcomers usually are from Java and Sulawesi. This has made the current number of residents in Balikpapan now total 591,000 people.

HSBC Holdings announced in London on Monday it would acquire majority ownership of Indonesia-based Bank Ekonomi for US$607.5 million, as a step toward doubling its presence in the country. HSBC would acquire a 38.84 share in Ekonomi from PT Lumbung Artakencana, 38.6 percent from PT Alas Pusaka and 11.45 percent from individual shareholders, giving it 88.89 percent ownership of the thriving bank.

Ika Krismantari, The Jakarta Post, Jakarta Analysts have predicted that the growth of the cell phone business in the country will not last much longer, with a downturn expected to hit the market in the next two or three years, as it will have become a saturated market. Indosat president director Johnny Sjam said in an interview recently that the company's average revenue per user (ARPU) would decline by 25 percent from last year, forcing the company to revise downward this year's revenue target.

Monday, 20 October, 2008 | 18:43 WIB TEMPO Interactive, Yogyakarta:The global financial crisis has made the Yogyakarta Tourism Board seek new ways to bring tourists to its city. The board is determined to lure more visitors from Australia, Eastern Europe and South Africa. "We are changing our strategy by focusing on Australia, Eastern Europe and South Africa," said Tazbir, director of the Yogyakarta Tourism Board, yesterday.

Monday, 20 October, 2008 | 18:46 WIB TEMPO Interactive, Singapore:Indonesians are still very much the target of the Singapore property sector. Property buyers from Indonesia are currently in second place after Malaysia. Far East Organization executive director Chia Boon Kuah said Indonesian citizens are a potential market for Singaporean property developers. He said many Indonesians own apartments or condominiums in his country. Far East, the biggest developer in Singapore, currently operates 2.

Mustaqim Adamrah, The Jakarta Post, Jakarta The Industry Ministry seeks to decrease rattan exports to help ensure supply for the local furniture industry. Benny Wahyudi, the ministry's director general for agriculture and chemical industries, said last week the ministry was in the process of submitting a request to the Trade Ministry to revise a 2005 Trade Minister regulation on rattan exports.