Indonesian Political, Business & Finance News

Archive: 26 January 2011

8 articles found

BKPM employees rebel, dump on Gita Wiryawan

Nice one. About time the people stood up for themselves and forced out the corrupt and greedy management. Let's hope this sort of letter actually provokes a response for the good.

BKPM employees rebel, dump on Gita Wiryawan

Bersama surat ini, kami karyawan Badan Koordinasi Penanaman Modal (BKPM) menyampaikan keprihatinan kami atas kondisi lembaga tempat kami berkarya yang saat ini semakin tidak kondusif. Ketidakjelasan arah dan prioritas kerja, sistem penilaian kinerja serta kepemimpinan Bapak Gita Wiryawan yang tidak profesional telah membuat karyawan BKPM tidak hanya kehilangan motivasi, namun juga kehilangan kepercayaan terhadap kepemimpinan Bapak Gita Wiryawan.

Indian, Indonesian business chambers sign 16 MOUs

Business chambers of India and Indonesia on Wednesday signed 16 memoranda of understanding on the sidelines of a three-day state visit to India by Indonesian President Susilo Bambang Yudhoyono.

Indian Billionaires Lead $15 Billion Push to Expand in Indonesia

New Delhi. Indian companies led by billionaires Gautam Adani and G.V. Krishna Reddy signed accords worth $15 billion for projects including airports, steel plants, ports and railroads in Indonesia. A GVK Power and Infrastructure Ltd.-led venture will spend as much as $4 billion to build two airports in Indonesia and Adani Group signed a deal to build a railway and port worth about $1.8 billion, the companies said separately yesterday. Indian companies including Tata Power Ltd.

Indonesia's Slide Into Corruption

Sometimes graft is a grease that allows a badly regulated economy to run. Yet complacency about corruption is always ill-advised, as it can all too easily drive out legitimate business and destroy the trust that holds society together. Indonesia has hovered on this brink in the past and may be there again now. The scandal causing the most buzz is that of tax official Gayus Tambunan, who famously bribed his way out of jail 68 times before his trial and even traveled abroad.

Newmont Sues Indonesia’s Merukh Over $300 Million Loan Breach

Jan. 26 (Bloomberg) -- Two units of Newmont Mining Corp., the world’s second-largest gold producer, are suing its Indonesian partner and businessman Jusuf Merukh in Singapore for reneging on the terms tied to a $300 million loan agreement. Newmont Indonesia Ltd. and NVL (USA) Ltd. sued Merukh’s PT Pukuafu Indah and five of his family members in a bid to get legal proceedings in Jakarta dropped as agreed under the loan, according to papers filed with the Singapore High Court.

Optimism for 2011 Investment Target

TEMPO Interactive, Jakarta:Businessmen are optimistic this year’s investment target can be achieved. “I think the real and non-real investment target of Rp240 trillion can be achieved in 2011,” Djimanto, the Indonesian Businessmen Association (Apindo) chairman, told Tempo yesterday, adding the world economy had improved. Local regulations support investments, including the permanent interest rate reference, while the real sector has already implemented the tax holiday policy.

RI offers Indian companies nine areas of investment

New Delhi (ANTARA News) - Indonesia on Tuesday offered Indian companies nine areas of investment expected to benefit both countries. Visiting Indonesian President Susilo Bambang Yudhoyono made the offer at a business forum attended by some 500 Indian businessmen grouped in the Associated Chambers of Commerce and Industry of India (Assocham), Confederation of Indian Industry (CII), and Federation of Indian Chambers on Commerce and Industry (FICCI).