Jakarta (ANTARA News) - Indonesia's consumer price index (CPI) in March rose 0.95 percent from February and was up 8.17 percent from a year ago led by food prices, an official said Tuesday. The rise in the CPI was bigger than analysts had expected. Ten economists polled by Thomson Financial News were expecting that CPI in March would rise by 7.37 percent to 7.63 percent from a year earlier. Month-on-month, the forecast was for a rise of 0.21 percent to 0.5 percent.

Singapore (ANTARA News/Dpa) - Rising food and fuel prices are presenting East Asia with "testing times in 2008," the World Bank warned on Tuesday. Growth for developing countries was forecast at 8.5 per cent compared with 10.2 per cent last year and the lowest since 2002, said the half-yearly report on the region. "The near-term outlook for the region will depend to a large extend on the robustness of domestic demand in the face of slower exports," it said.

Jakarta (ANTARA News) - Indonesia's trade surplus dropped to $2.71 billion in February from $3.48 billion in January as exports fell from their all-time high, Central Bureau of Statistics deputy head Ali Rosidi said Exports dropped to $10.53 billion dollars in February, 4.9 percent below the all-time high they hit in January, but rose 28.5 percent from a year before, he said.

Bakrie brothers.

Aburizal "Mango face" Bakrie

Responding to the Constitutional Court amendment of Article 22 of the Investment Law, the House of Representatives and the Investment Coordinating Board (BKPM) said Monday the de facto duration for property rights would remain unchanged. Both institutions said that although the amendment had scrapped exact time periods for property rights in the article, the period for land cultivation right remained up to 95 years for foreign investors.

Most corrupt institutions The findings of an integrity survey conducted by the Corruption Eradication Commission (KPK) in 30 public institutions and state companies providing public services between last August and October in Greater Jakarta simply validated the international perception of Indonesia's government as one of the most corrupt in the world.

Publicly listed property developer PT Bakrieland Development booked a 98.5 percent increase in audited net profit last year due to robust sales. Bakrieland posted a net profit of Rp 134.2 billion (around US$14.5 million) in 2007, from Rp 67.6 billion recorded in the previous year, a media statement said Monday. President director Hiramsyah Thaib attributed the profit jump in particular to the 98.9 percent rise in sales, from Rp 393.2 billion in 2006 to Rp 782.5 billion last year.

Novia D. Rulistia, The Jakarta Post, Jakarta Despite the pleas of business players, the government is unlikely to increase spending for infrastructure development, with the President insisting on securing the state budget in the midst of global price inflation. Addressing the Indonesian Chamber of Commerce and Industry (Kadin) national coordinating meeting on Monday, President Susilo Bambang Yudhoyono said it was impossible to increase infrastructure spending further.

Publicly listed nickel producer PT International Nickel Indonesia (Inco) said it will spend around $212 million this year, Asia Pulse reported Friday (28/3/08). Inco president Arif S. Siregar said $60 million of the expenditure will be for project construction, $70 million for routine expenditure, $42 million for environmental reclamation and $29 million for other costs.

Cement maker PT Semen Gresik said its net profit in 2007 rose 37.04% to Rp1.8 trillion ($196 million) from a year earlier on higher demand for its product, Asia Pulse reported Tuesday (25/3/08). Sales rose 10% to Rp9.601 trillion, PT Semen Gresik president director Dwi Soetjipto said. He said Semen Gresik had set itself the target of raising its domestic sales by 6% this year. "The company now holds a 44.2% share of the national cement market.

The Transport Ministry will name 25 ports this week which will be allowed to serve ships engaged in international shipping, reducing the number from 141 at present, Asia Pulse reported Tuesday (25/3/08). The decision is aimed at reducing room for smuggling or illegal trading, said Sea Transport Director General Effendi Batubara. Indonesia has 977 general seaports and 141 of them are still open for ships serving international shipping.

India's KS Oils Ltd said on Wednesday (26/3/08) it has acquired 20,000 hectares of palm plantation in Indonesia, where it will invest 2.3 billion rupees ($57.5 million) over a period of three years, Reuters reported. The plantation will yield 80,000 metric tonnes annually, a statement said. Earlier, the firm had said it planned to set up a 15,000-acre plantation in Indonesia.

Saipem SpA may spend $390 million to build a port on Karimun Island, says Kontan newspaper, citing Karimun regional secretary Taufiq Ilyas, Bloomberg reported Thursday (27/3/08). The Indonesian unit of the oil-drilling services company plans to sign an agreement on April 3 with the Karimun government to build on a 140 hectare plot of land, Ilyas was cited as saying.

A parliamentary committee and the government agreed to raise the budget deficit target to 2.1% of GDP from 1.7% due to soaring fuel subsidies, according to a committee member, while spending on fuel subsidies may have to nearly triple to around Rp130 trillion ($14.11 billion), Finance Minister Sri Mulyani Indrawati said.