Indonesian Political, Business & Finance News

Archive: 10 August 2009

3 articles found

Indonesia's Texas? Rural Java braces for oil boom

Sorry, but what a lousy way to frame Cepu. Indonesia's Texas? That's just daft in so many ways.

Indonesia's Texas? Rural Java braces for oil boom

BOJONEGORO, Indonesia (Reuters) - Few things seem to happen at speed in this sleepy Java town where rickshaws ply the streets. But this rural area of rice fields and teak forests is set to be transformed by Indonesia's biggest oil find in years. Oil production could start to flow from the huge Cepu field straddling East and Central Java later this month and eventually add millions of dollars to the coffers of local governments, as well as an influx of workers and a wave of new expectations.

ANZ targets big growth in Indonesia

Australia and New Zealand Bank (ANZ)expects the bulk of its business here to come from institutional, retail and wealth banking, following its acquisition of Royal Bank of Scotland's (RBS) local assets.