PT ANZ Panin Bank, a unit of Australia & New Zealand Banking Group, plans to expand in Indonesia and Asia as a fundamental part of its growth strategy, executives said, Dow Jones reported. Indonesia is a high priority in ANZ's push to become a super-regional bank and generate 20% of its revenue from Asian operations by 2012, they said.

Indonesian ships are strengthening their domination of domestic cargo transport carrying 148.7 million tons or 65.3% of the total domestic cargoes in 2007, an official said, Asia Pulse reported. In 2004, ships flying the Indonesian flag carried only 54% or 101.3 million tons of domestic cargo, Transport Minister Jusman Syafii Djamal said.

The government will introduce regulations requiring industries to work a maximum of two days per month at weekends in order to spread peak power loads, Energy and Resources Minister Purnomo Yusgiantoro and Industry Minister Fahmi Idris said Friday, Kompas reported. The two ministers said the decision on the required shift in working days had been made following discussions with the Indonesian Chamber of Commerce and Industry (Kadin), related government departments and state power utility PT PLN.

The Industry Ministry said it will issue a regulation requiring new investors in manufacturing industry to use new machines starting 2009 to be more energy efficient, Asia Pulse reported. Metal, Machines, Textile and Multifarious Industries Director General Ansari Bukhari said the use of new machines is aimed at saving at least 20% of energy consumption. Details of the regulation including sanctions against violations are being discussed, Bukhari said.

Four Japanese investors have expressed interest in investing in the Batam-Bintan-Karimun (BBK) free trade zone, a minister said, Asia Pulse reported. "Four companies are interested in investing in Batam or Bintan, and there will be a business mission from Japan to visit the BBK region in September 2008," Trade Minister Mari Elka Pangestu said. The government was informed about the Japanese companies' interest during BBK investment promotions in Japan last July 2008.

Realized direct investment in Indonesia grew 56.2% in the year's first half compared to the same period last year, with robust foreign investments offsetting a domestic decline, the Investment Coordinating Board (BKPM) said, quoted by The Jakarta Post. "Realized investment in the first half of the year reached $11.32 billion from $7.25 billion in the same period last year," said BKPM chairman Muhammad Lutfi.

The House of Representatives and the government have agreed to reduce income taxes by 50% of normal tariffs for micro, small and medium businesses which have legal entities, Antara reported. The reduced income tax tariff was given to taxpayers with a business turnover of Rp4.8 billion ($526,451) to Rp50 billion per annum, Drajat Wibowo, a member of the House's working committee on the income tax bill, said at the weekend.

Data released by Bank Indonesia shows that foreign participation in local financial markets through Bank Indonesia Certificate (SBI) in June increased more than two times to Rp33.6 trillion from Rp16.6 trillion in May. Deutsche Bank in a report says that the number shows “improved confidence in the macro outlook” despite the concern on high inflation.

Aditya Suharmoko, The Jakarta Post, Jakarta The government and the House of Representatives last week finalized an amendment to the income tax law, which, when enacted next month, will cut taxes and offer incentives to businesses. Income tax for businesses will be set at 28 percent next year, replacing the current progressive system, and will be further reduced to 25 percent at the start of 2010.

Ghazanfar Ali Khan | Arab News RIYADH: Saudi Arabia and Indonesia are all set to enter into a new vision of commercial relation with two-way trade showing 70 percent increase during the first two months of the current year. Jakarta, on the other hand, has invited a large number of Saudi businessmen to visit a major trade exhibition later this year,” said Sintoyo, who heads the commercial section of the Indonesian embassy, here yesterday.

Ten years into the reform movement, many businesses in the country are still engaging in corruption to ensure their financial success. Money for bribes remains a variable in a company's production costs, spent to ensure safe and timely delivery of goods, obtain business permits or win government projects, business players claim.

Published: July 16 2008 16:08 | Last updated: July 16 2008 16:08 Companies operating in Indonesia have criticised the government over power cuts and Jakarta’s attempts to deal with them, including an edict forcing factories to move production to weekends from next week. A series of potential blackouts are scheduled for this week and next in Jakarta and the nearby industrial zone of Tangerang.

The House of Representatives on June 24 approved a draft law on the formation of 12 new regencies in the country, including Anambas in Riau Islands province. The formation of new autonomous regions is part of Riau Islands' strategy to enhance balanced development and provide improved public services. It hopes that the formation of Anambas, currently part of Natuna regency, can reduce operating expenses in an area of the province made up largely of ocean.

Monday, 21 July, 2008 | 18:27 WIB TEMPO Interactive, Gorontalo:“At the moment, Indonesia imports 400.000 cattle and beef equivalent to 200.000 cattle. We still need an additional 600.000 cattle for the program,” said Vice-President Jusuf Kalla, following the launching of integrated and self-sufficient villages, Bongo II & III in Gorontalo, last week. To avoid imports, Kalla said, Indonesia requires one million cattle to meet demands for beef in the next four or five years.

Jakarta (ANTARA News) - State electricity company PT Perusahaan Listrik Negara (PLN) said on Monday its planned electrical tariff hike will not apply to all industries. The tariff hike will only apply to industries and businesses of group three and above, Al Hilal, chief of the company`s board of commissioners, said. "Their number is only around 8,000," he said. To date, PLN has around 35 million subscribers, he said.