Indonesian Political, Business & Finance News

Archive: 27 January 2009

6 articles found

ASEAN, India to ink FTA soon, boost trade by 30%

Alfian, THE JAKARTA POST, NEW DELHI After a string of protracted negotiations since 2003, ASEAN is to sign a free trade agreement (FTA) with India during its next month’s summit. With a combined market of 1.72 billion people, the deal will form the world’s second largest FTA after the ASEAN (Association of Southeast Asian Nations) and China FTA in 2007.

Fisheries sector to reel in better results

The Jakarta Post, JAKARTA Indonesia may this year be in for a 45 percent increase in fishery output, from a year earlier, on the back of a government revitalization program and rising demand, in particular from the domestic market. The Ministry of Marine Affairs and Fisheries has set the fishery production target at 12.78 million tons, significantly up from last year’s 8.71 million tons. The 2008’s figure was a 6 percent rise from 2007.

New Indonesian Mineral and Coal Mining Law

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2009) - East Asia Minerals Corporation (TSX VENTURE:EAS) believes that the changes proposed under the New Indonesian Mineral and Coal Mining Law ("New Mining Law") are largely positive for the Company and considers that the New Mining Law of Indonesia is a globally competitive framework within which to operate. It will provide the Company with excellent security of tenure, and a well defined framework within which to grow the Company.

Options diminish for Indonesia’s job seekers

When the Jakarta Post, Indonesia’s leading English-language newspaper, recruited trainees in 2007, 10 people were offered jobs. But, says Endy Bayuni, the chief editor, the best five turned their offers down, having secured better packages elsewhere. Twelve months and an economic crisis later, “there’s a vast difference”, Mr Bayuni notes. “The quality of job seekers is much higher.

Indonesia reviews drug regulations

Indonesia is to review protectionist regulation that forces foreign pharmaceutical companies to establish manufacturing facilities if they want to distribute and sell drugs in the country. Some foreign diplomats believe proposals to judge companies on a case-by-case basis could violate World Trade Organisation rules. It is unclear how the proposed new rules would be implemented.

Log Export expected to raise timber price

Jakarta (ANTARA News) - The Forestry Ministry's plan to open exports of logs produced from timber estates (HTI) would help HTI businesses strengthen their bargaining power in facing domestic pulp and paper industries at home, an executive said. "It will increase HTI businessmen's bargaining position. So far, they are facing difficulties in developing their timber estates due to unfavorable prices," President Director of state-owned forestry company PT Inhutani IV, Mustoha, said here on Monday.