In a democratic nation, transparent financial reporting is a crucial tool for citizens to use in monitoring the way the government spends their money. The Indonesian government, however, is regularly criticized for the low quality of its financial reports and the lack of competency within its bureaucracy. In Singapore, South Korea and Hong Kong, the quality of government financial statements indicate overall management practices in their relatively healthy economies.

Even as furniture makers target new markets, overall furniture exports are expected to decline 18 percent this year as demand in Europe and the United States sags because of the recession. In contrast, domestic handicraft makers are expected to be largely unaffected by the crisis. Sae Tanangga Karim, the executive director of the Indonesian Furniture Industry and Handicrafts Association (Asmindo), said furniture exports for this year were projected to total $1.6 billion, down 18 percent from $1.

The US-Indonesia bilateral partnership agreement to be signed at the end of this year could lead to the removal of tariffs on some Indonesian products such as textiles, said representatives of the business community. “The agreement could be the start of another detailed agreement on specific issues, such as removing duties on textiles exported to the US,” said Shinta Kamdani, chairwoman for foreign investment at the Indonesian Chamber of Commerce and Industry (Kadin).

The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned coal miner PT Tambang Batubara Bukit Asam because the scheme has yet to receive the necessary permit from the Transportation Ministry, Bukit Asam’s top executive said on Tuesday.

Indonesian foreign investment coordinating agency of BKPM (Badan Koordinasi Penanaman Modal) has set up a particular service desk aimed at facilitating investors from giant economies like China to do business and pump more investments in Indonesia, BKPM minister Muhammad Lutfi said on Tuesday.

The Denpasar branch of state owned electricity company PLN will apply alternate power blackouts in Bali for 56 days starting Oct. 10. Kompas.com reported Wednesday that the blackout would be inevitable as gas-fired power plant (PLTG) Gilimanuk will undergo maintenance, which will decrease the power supply from 562 megawatts (MW) to 432 MW, well below the peak demand of 490 MW a day.

Indonesia has managed to cope with the deteriorating impacts of global economic crisis not because of the country’s strong economic structure, but rather due to "luck", economist Faisal Basri said Wednesday. He was speaking at the launch of his book titled "Lanskap Ekonomi Indonesia" (Indonesian Economic Landscape). "We survive the crisis not because our [economic] structure is strong, but just luck,” Faisal said. "Our banks don't have subprime mortgage.

TEMPO Interactive, Sumenep:Energy and Mineral Resources Office chief in Sumenep, Madura, Mohammad Fadilah, estimated that despite the many foreign oil and gas companies operating in the area, the profit sharing formula for oil and gas revenues was not balanced. "We only receive funds for community development," Fadilah said yesterday,adding that this was due to the Home Affairs Minister Regulation no. 1/2006 on Oil and Gas.

TEMPO Interactive, Jakarta: Indonesian Embassy in Germany in cooperation with the National Investment Board will launch a guide book on investing in Indonesia during the Indonesian Business Day on October 12th, officials informed on Tuesday.

The rupiah strengthened to its highest level in a year on Tuesday, as the country’s strong economic prospects and comparatively high interest rates boosted foreign investment. It rose 1.2 percent to 9,437 to the US dollar as of the stock market’s close and briefly touched 9,428, the highest level since Oct. 3, 2008, at the onset of the economic crisis, said Bloomberg. The rupiah has risen 15.5 percent this year, making it the best performer among Asia’s 10 most-traded currencies.