The Corruption Eradication Commission (KPK) has given the Upstream Oil and Gas Regulator (BP Migas) six months to mend its poor inventory system that has given rise to allegations of embezzlement. Speaking after meeting with BP Migas head R. Priyono, KPK deputy chairman for prevention Haryono Umar said Thursday the flawed system was responsible for the depreciation of the regulator's assets from US$24 billion in 1970 to only $3 billion today.

Fadli, The Jakarta Post, Batam Business circles in Batam, Riau Islands province, are calling on the government to expedite the planned setting up of a regional management body (BPK) in the area aimed at replacing -- fully or partly -- the Batam Industrial Development Authority (BIDA). The move would at least provide certainty for businesses, according to the chairman of the local chapter of the Indonesian Employers Association (Apindo) Abidin.

The Jakarta Post, Jakarta Almost certain to meet this year's revised downward target, the government remains boldly confident foreign tourist arrivals will rise 25 percent next year, betting partly on the results of higher promotional budgets, says a ministry official.

The government aims to net more investment from Middle East oil state main players next year, in particular in the agricultural sector, despite the global economic downturn, says a government official. Investment Coordinating Board (BKPM) chairman Muhammad Lutfi said Thursday that Arab investors were largely unaffected by the economic recession sweeping the developed economies and should therefore be factored into the inward investment picture.

Alfian, The Jakarta Post, Jakarta In a bold move, the government forecasts investment in the oil, gas, power and mining sectors next year will grow by 16.7 percent compared to this year, despite the global financial crisis and economic downturn constraining some financial flows.

$12,500 dollar a month export makes the news - $1.8 million USD of furniture flogged in Dubai --- Are things really that bad that this is the most positive business news Indonesia can muster? Or is it just the Christmas effect?

TEMPO Interactive, Mataram:West Nusa Tenggara (NTB) governor Muhammad Zainul Madjdi yesterday released the first batch of bottled water produced by PT Narmada Awet Muda (NAM) exported to Melbourne, Australia. PT NAM director Pengki Yupiter said the business was started in 2006. The company exports five containers of bottled water valued at Rp125 million every month. NAM’s bottled water is normally available in supermarkets, restaurants and airports.

Jakarta (ANTARA News) - A scientist of the Indonesian Institute of Sciences (LIPI) has advised the government to follow Malaysia`s step in restricting its natural oil exploitation. "Malaysia restricts its oil exploitation to about 630,000 barrels per day and gas consumption to 32,000 million standard cubic feet per day," Nur Aisyah K said here on Thursday. Besides, Malaysia whose oil reserves are expected to finish in 12 years, also reduces its dependence on oil consumption.

Kupang, E Nusa Tenggara (ANTARA News) - Research and Technology State Minister Dr Kusmayanto Kadiman succeeded a trial operation of his Castor oil machine in Rote Ndao Regency, East Nusa Tenggara (NTT). "At Rote Ndao, the minister managed the conduct a trial run of the Castor machine which produces Castor oil and Castor pressure stove, fueled with Castor oil," said a NTT mining official, Alex Djari here Thursday. The minister visited Rote Ndao, NTT, Wednesday (12/17).

Jakarta, (ANTARA News) - The government will in 2009 cut refined and raw sugar imports by 50 percent and 20 percent each of their 2008 import quotas in a move to protect local production. "The government is expected to cut its import quotas next year as sugar stocks begin to increase now," Bayu Khrisnamurti, an assistant for agricultural, marine and fishery affairs to the chief economic minister, said at a breakfast meeting here on Thursday.