Indonesian Political, Business & Finance News

Archive: 22 August 2009

5 articles found

Costly Local Autonomy Has Few Plusses

The central government has again urged a halt to the carving out of new regions throughout the country, warning that the process significantly weighed on the national budget while doing little to improve social welfare standards. “We want to see a halt to the proliferation of new regions,” Finance Minister Sri Mulyani Indrawati said during a special plenary session of the outgoing Regional Representatives Council (DPD) on Wednesday.

Indonesian Government Reveals $9.36b Infrastructure Plans

With the country’s woefully inadequate roads, railways and ports becoming creakier by the day, the government says it wants to spend Rp 93.9 trillion ($9.36 billion) next year on an array of priority projects to address the yawning infrastructure deficit. The projects include the building of seaports, airports, railways, roads, bridges, schools and irrigation works.

Alcohol-soaked Bali is running out of booze!

Indonesia News.Net Friday 21st August, 2009 (ANI) Sydney, Aug 21 : In an unusual instance, a British-owned hotel in Bali has reportedly requested its guests to bring in some extra alcohol. After the re-election of Susilo Bambang Yudhoyono as Indonesian president last month, the nation's liquor importation laws have been further tightened. The government has cracked down on illegal alcohol importation too.

Investor protection key under new bill

A planned amendment to the Capital Market Law aims to provide greater protection to investors by, among other reforms, requiring securities firms to separate out any business other than managing investor's funds and promoting the establishment of an insurance fund to help cover investor's risks.

Pelindo I inks $500m port development project

State shipping company PT Pelabuhan Indonesia (Pelindo) I inked a joint commitment with private firms and local governments on Thursday on a port development program estimated to be worth US$500 million in total investment. Those involved in signing the commitment agreement include state oil company PT Pertamina, shipping company Maersk Line, Regional Container Line (RCL), Langkat Regency of North Sumatera, Sabang Regency and the North Aceh Regency of Aceh and the Dumai Regency of Riau.