Indonesian Political, Business & Finance News

Archive: 15 February 2008

9 articles found

Indonesian growth in 2007 fastest in 11 years

Jakarta (ANTARA News) - Indonesia's full-year growth for 2007 clocked in at 6.32 percent, the fastest rate since the country was hit by the Asian financial crisis 11 years ago, official data showed Friday. The figure was slightly higher than the government forecast of 6.30 percent, but remained lower than the pre-crisis level of 7.8 percent recorded in 1996.

Indonesia`s United Tractors January heavy equipment sales up 60 pct

Jakarta (ANTARA News) - Indonesia's PT United Tractors said Friday its "Komatsu" heavy equipment sales rose 60 percent to 491 units in January from 306 a year earlier, led by sales to the mining and agriculture sectors. The "Komatsu" heavy equipment grabbed a 55 percent market share in Indonesia during the month, the company told Thomson Financial. United Tractors is operating a mining contracting business via its unit PT Pamapersada Nusantara and coal mining through PT Dasa Eka Jasatama.

Software giant comes to RI

On the back of higher demand for business software in Indonesia, U.S. software giant SAS is opening an office in Jakarta in efforts to better penetrate the market. Through its local unit, PT SAS Institute, SAS has planned an investment of between US$8 million and $10 million in Southeast Asia's largest economy for the next two years.

Tax director general aims big this year

Aditya Suharmoko, The Jakarta Post, Jakarta The tax office said Thursday it would strive to significantly raise tax revenue this year in an attempt to increase the country's coffers. Finance Ministry Director General of Taxation Darmin Nasution told a press conference that this year his office aimed to collect Rp 523.85 trillion (US$56.57 billion) in taxes -- a 26.6 percent increase from Rp 426.23 trillion in 2007.

Government upholds deadline on Newmont's divestment process

The government is insisting PT Newmont Nusa Tenggara complete its planned divestment process by Feb. 22, threatening to terminate the U.S. company's mining contract for its gold and copper operations in West Nusa Tenggara if it fails to meet the deadline. Simon Sembiring, director general for geology and mineral resources at the Energy and Mineral Resources Ministry, said Thursday the government had decided to stick to its deadline after a meeting with the company failed to reach an agreement.

BlueScope invests $113m to lift output

JAKARTA (JP): Australian steel producer PT BlueScope Steel Indonesia is investing $113 million to expand its plant in response to rising local demand for steel. Attended by Industri Minister Fahmi Idris, the ground-breaking ceremony for the expansion was held Tuesday in Cilegon, Banten. "The company plans to triple its factory capacity," director general of metal, machinery, textile and industry Anshari Bukhari said as quoted by Antara. Managing director and CEO of BlueScope Steel Ltd.

Indonesia 2007 GDP expected to grow at fastest pace in 11 years

Jakarta (ANTARA News) - The Indonesian economy is expected to have grown at its fastest pace in 2007 since the country was hit by the Asian financial crisis 11 years ago, driven mostly by private consumption. Falling interest rates, a strong financial market performance, and an increase in pay for civil servants are expected to have underpinned the recovery in purchasing power, said Destry Damayanti, an economist at Mandiri Securities.

Bengkulu to build new ports

Bengkulu (ANTARA News) - Bengkulu province which partially consists of beaches will in this year build several new ports for its plantation produce and coal. One of the ports which already has a permit for its construction will be located in Muko Muko Regency, and a further survey to be followed by construction work will soon be conducted, executive director of the Pulau Baai Port Authority in Bengkulu Hasan Basri said on Thursday.

Bengkulu develops Sigarar Utang coffee

Bengkulu (ANTARA News) - Sigarar Utang coffee, like arabica coffee of Medan, North Sumatra, is now being developed in Bengkulu on land with an altitude of about 1,000 meters avove sea level. Some 44,000 sigarar utang coffee trees in the Mangkorajo hills in Lebon regency, had been developed since 2006, and since 2007 also developed in Mojorejo village, Rejang Lebong regency as pilot project, said Madihi, staff member of the Bengkulu Provincial Forestry Agency, said on Thursday.