Aditya Suharmoko, The Jakarta Post, Jakarta As the government seeks to boost domestic industry in anticipation of a U.S. recession, businesses in turn want an increased effort made to reduce costs, help diversify export destinations, boost bank loans and empower small and medium firms.

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HSBC Holdings announced in London on Monday it would acquire majority ownership of Indonesia-based Bank Ekonomi for US$607.5 million, as a step toward doubling its presence in the country.HSBC would acquire a 38.84 share in Ekonomi from PT Lumbung Artakencana, 38.

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Ika Krismantari, The Jakarta Post, JakartaAnalysts have predicted that the growth of the cell phone business in the country will not last much longer, with a downturn expected to hit the market in the next two or three years, as it will have become a saturated market.

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Mustaqim Adamrah, The Jakarta Post, Jakarta The Industry Ministry seeks to decrease rattan exports to help ensure supply for the local furniture industry.

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