Indonesian Political, Business & Finance News

Archive: 1 July 2008

20 articles found

Faced with tough choices, consumers vote with their stomachs

A special poll was conducted in April by Roy Morgan Research to understand the views of people around Jakarta on issues relating to the increasing price of fuel, energy and commodities. As many as 2,010 respondents of 14 years of age and older were asked what would impact more greatly on the lives of their families: the rising prices of commodities, fuel or electricity. The overwhelming response was the price of commodities, with 74 percent of respondents ranking it their number one concern.

Rail investors call on government to clear the way

New railway routes are key to boosting efficiency and reducing distribution costs for local developing businesses, but progress has been hampered by land-clearance issues, business players say. "With trains, we will know when our goods will arrive.

Govt to limit reimbursable items under cost recovery scheme

Aditya Suharmoko , The Jakarta Post , Jakarta | Tue, 07/01/2008 10:25 AM | Headlines The government is wrapping up a new regulation that will eliminate 17 expenses that oil and gas contractors can currently claim for reimbursement under the cost recovery scheme, a minister says. Under the scheme, oil and gas operators can claim expenses related to exploration activities once their blocks are in operation.

Indonesia inflation accelerates further in June, led by higher transport costs

Jakarta (ANTARA News) - Indonesia's annual inflation in June accelerated to its fastest pace since September 2006, driven by higher transportation costs after the government hiked subsidised fuel prices the month before, the Central Bureau of Statistics said Tuesday. The consumer price index (CPI) in June was up 2.46 percent from May and was up 11.03 percent from a year ago, said Ali Rosidi, a deputy chairman of the Central Bureau of Statistics.

Govt. plans 10% mandatory biofuel mix by 2010

Indonesia plans to start its mandatory biofuel blending program in September with a 2.5% mix of either bioethanol or biodiesel, a senior industry executive said, Dow Jones reported. The blend will gradually be raised to 10% by 2010 in a bid to reduce reliance on fossil fuels, said Erwin Duma, biofuel business development manager of PT Molindo Raya Industrial. Many ethanol plants are being built to meet the targeted production capacity of 4 million kiloliters of bioethanol by 2010.

Oil palm plantation to be turned back into forest

The government said it has decided to turn 42,000 hectares of oil palm plantation into forests in Padanglawas, North Sumatra, Asia Pulse reported. The plantation was built on a protected forest land by PT Torus Ganda, owned by Darianus Longguk Sitorus, now serving eight years in jail. The license of the company over the land has been revoked, M. Fauzi, an expert staff of the forestry minister was quoted as saying by the newspaper Bisnis Indonesia.

Govt. to expand plantation forests

The government will speed up the development of plantation forests (HTI) in a bid to increase the country's export capacity for pulp, an official of the forestry ministry said, quoted by Asia Pulse Next year, the government targets expansion of HTI by 9 million hectares and by 15 million hectares in 2012, HTI Director Bejo Santosa said.

Essar commissions steel service center

India's Essar Group on Wednesday said its PT Essar steel plant in Indonesia has commissioned a $15 million advanced service center at the firm's cold rolling complex near Jakarta, Asia Pulse reported. The new center, which will have an annual capacity of 300,000 tons, will process hot rolled, pickled, cold rolled and coated steel products, a statement from Essar said.

Qatar interest in tire industry

A group of investors from Qatar led by Qatar Islamic Bank wants to invest in the tire industry in the country, said Alwi Shihab, the special presidential envoy for the Middle East, Asia Pulse reported. Shihab said the investors want to invest in Indonesia as 50% of the Middle East's tire requirement has been supplied by Indonesia.

Energizer to relocate plant to Indonesia

US-based Energizer Holdings Inc. plans to relocate its plant from Singapore to Indonesia where demand for batteries has risen by as much as 10% a year, Investor Daily Indonesia quoted an industry ministry official and a company spokesman as saying, Bloomberg reported. Energizer will make Indonesia its production base for the Southeast Asian region, the newspaper said, citing Budi Dharmadi, the ministry's Director General for Transportation.

AcelorMittal given two licenses: Lutfi

London-based AcelorMittal, the world's largest steelmaker, has been granted two licenses for operations, says M. Lutfi, the head of Indonesia's Investment Coordination Board (BKPM). He told a luncheon hosted by foreign journalists on Wednesday that the company had been granted licenses for operations in East Java and Batam.

Govt. proposes to cut tax rate on dividends

The government plans to lower the tax rate on dividends to 15% from 20% in an effort to improve the investment climate and encourage the development of financial markets, the tax chief said, reported Reuters. The government is keen to develop the country's young financial market by improving regulations and providing tax incentives for people still wary of investing in the stock market.

Govt. sets deadline for tax evaders

The government will fine unregistered taxpayers 20% of their total taxes if they fail to register by the end of this year, as part of efforts to increase tax collections, a legislator said, quoted by Reuters Indonesia has a population of 230 million, but only four million people are on the tax register and just one third of those actually pay tax.

Credit expands despite slowdown

An economic slowdown has not put a brake on credit expansion, according to a central banker, with total outstanding credits up by 33%. In the year ending June 30, banks disbursed Rp284.29 trillion ($31 billion), increasing the total figure for disbursements to Rp1,145.7 trillion, Asia Pulse reported Bank Indonesia deputy governor Muliaman D Hadad as telling Investor Daily. Hadad attributed the increase to active development of the infrastructure, plantation and manufacturing sectors.

Harvey Nichols, Domino's Pizza to hit Indonesia

PaHe Gourmet Wrap yang tidak pedas, baby!

Harvey Nichols, Domino's Pizza to hit Indonesia

Try a 'pizza hut' pizza from papa cafe jalan jaksa...other 'bad' pizza will quickly be put into perspective. If you have a little room left, drop by McDs for a gourmet wrap

Harvey Nichols, Domino's Pizza to hit Indonesia

Death to Dominos! Horrible, raw-dough gummy shite... Looks like a round patch of menses.

Poultry businesses going bankrupt

Originally Posted By: kenyeung Originally Posted By: Polisi Cepek Many Papuans of my aquiantance blame the inter-island chickens for certain health problems the province is suffering. Sounds like a form of "Canareal Disease" called Chirpies. It is tweetable. NFOMPL = Nearly fell off my perch laughing

Poultry businesses going bankrupt

Originally Posted By: Polisi Cepek Many Papuans of my aquiantance blame the inter-island chickens for certain health problems the province is suffering. Sounds like a form of "Canareal Disease" called Chirpies. It is tweetable.

Poultry businesses going bankrupt

Originally Posted By: Polisi Cepek Many Papuans of my aquiantance blame the inter-island chickens for certain health problems the province is suffering. They'd have you believe it's a plot. clearly foul play