Indonesian Political, Business & Finance News

Archive: 27 August 2009

10 articles found

Indonesia's tin industry

JAKARTA, Aug 27 (Reuters) - Here is some background on the tin industry in Indonesia, the world's top exporter and second-largest producer after China. Indonesia produces nearly 30 percent of the world's refined tin. MAIN PRODUCTION AREAS: - Bangka Island, off Sumatra's east coast, is the world's largest tin-producing area. Neighbouring islands Belitung and Singkep are also rich in the metal. - The Dutch East India Company started commercial tin mining on Bangka in the 19th century.

Three Islands in Mentawai Suspected of Being for Sale

TEMPO Interactive, Padang: The Mentawai Islands Regency Government in West Sumatra is investigating three islands in the region that are suspected of being for sale via the www.privateislandsonline.com website. The three island located to the southwest of Siberut Island are a resort site that has been built by foreign investors in Mentawai.

Indonesia Determined To Become World Oil Palm Reference

JAKARTA, Aug 27 (Bernama) -- Indonesia as the world's biggest oil palm producing country, will strive to become a world oil palm reference, Antara news agency reported. Director of the Oil Palm Research centre (PPKS) Witjaksana Darmosarkoro said here Wednesday that the oil palm estates in Indonesia have reached a total of 7 million hectares and a production of 18 million tonnes per year.

Document fee abolition sought to ease export costs

The customs and excise office plans to propose to the Finance Ministry to eliminate a non-tax levy on exports, which is considered to be clogging up the flow of exports. Exporters are also backing this move. The proposal comes after a new policy introduced by the office to enforce the payment of the levy up front - as compared to the old practice of paying it after exports were completed - has caused an additional logjam in export activities.

Koran Tempo Most Independent Newspaper says Research

TEMPO Interactive, Jakarta: The Koran Tempo newspaper is considered to be a medium with independent autonomy and content as the editorial structure and the ownership system do not include a major stakeholder. This statement was made by a media researcher from German, Anett Keller, who carried out research into four national printed media including Kompas, Koran Tempo, Republika, and Media Indonesia, in 2004.

S.Korea's POSCO denies $5 bln Indonesian steel plan

JAKARTA (Reuters) - South Korea's POSCO (005490.KS) denied on Wednesday comments by Indonesia's government that it was planning a $5 billion investment in the country, possibly through a venture with its top steel firm. "POSCO has expressed interest in investing in Indonesia's steel industry with a total investment of $5 billion...They are working on the joint venture with Krakatau Steel," Indonesia's Trade Minister Mari Pangestu told reporters late on Tuesday.

Indonesia Renewable Energy: 1.3 Million New Connections Per Year through 2025

Indonesia can't afford to stop paddling to new shores. It's not all smooth going when it comes to the international renewable energy transition, but commitment is a must. Indonesia is one example of an important country in transition where we're looking at all the positive and negative signals to find investment angles. Made up of over 17,000 islands in the Indian Ocean, this archipelago nation owes its modern existence to integration and access.

Major Palm Oil Forum to Be Held in Yogyakarta Next Year

Indonesia is scheduled to host a major international palm oil conference in Yogyakarta next June. Among topics to be discussed at the meeting are technology used in developing sustainable palm oil production, genetic modification, environmental issues and price trends. An estimated 700 participants from 15 countries, including representatives of 80 palm oil companies, are expected to attend.

Tax refund for overseas tourists planned to boost tourism

Aditya Suharmoko, The Jakarta Post, Jakarta Indonesia plans to introduce a "tax refund" scheme for foreign tourists shopping here as early as next year, as stipulated under the amendment of the existing law on value-added tax and luxury tax, the House of Representatives says.

Indonesian Government to Take Stock of Archipelago

After 64 years of independence, the government is planning to count up exactly how many islands there are in the world’s largest archipelagic country . The inventory, which will involve direct visual checks on each island, will see the government register an exact number, complete with names for each island, with the United Nations for international recognition in 2012, Freddy Numberi, the minister for maritime affairs and fisheries, said on Wednesday.