Indonesian Political, Business & Finance News

Archive: 5 March 2008

8 articles found

Without quality education, the country will change fundamentally

If knowledge is power, then Indonesia has a long way to go. This is not to cast aspersions on the country, but to highlight an opportunity for investors. When all the facts are considered, it makes a lot more sense to invest in a school than in another shopping mall. Of all Indonesians over the age of 14, only 5 percent have any education beyond high school. Of the remaining 95 percent, only a third have finished high school.

PGN to build LNG terminals worth $1.7 billion

Ika Krismantari , The Jakarta Post State gas distributor PT Perusahaan Gas Negara (PGN) plans to build three liquefied natural gas receiving terminals with a total investment of US$1.78 billion. President director Sutikno revealed the plan in a presentation during a hearing with the House of Representatives on Monday evening. He said the three projects would be located in West Java, East Java and North Sumatra and LNG distribution networks would be formed around them.

Recent electricity blackouts: The coal paradox

As the number one thermal coal exporter in the world, Indonesia should not be facing a coal crisis. Oil prices have been rising steadily for the last five years, from US$31 per barrel in 2003 to $102 per barrel today. There has been a recent hike in oil prices rising 67 percent from $61 per barrel in early 2007 to a record high of $103 per barrel. This follows the weakening rupiah, winter in the northern hemisphere, strong oil demand and political instability in the Middle East.

Creative workers sought to fill overseas vacancies

Rendi Akhmad Witular, The Jakarta Post Indonesian beauty therapists migrating to frosty Canada are among many Indonesians being headhunted for work overseas. Reputed for having a leading international spa industry, Indonesia is a haven for headhunters around the world searching for the best spa therapists, including masseuses and beauty experts.

Royal visit seen as boost for RI investment

Prince Andrew, the Duke of York, was in Jakarta on Tuesday as a special envoy for trade and investment, aiming to strengthen bilateral ties between the United Kingdom and Indonesia and look for new business opportunities. The high-level visit, business players said, would help bridge the perception gap between existing foreign investors in the country and potential investors on Indonesia's investment climate.

Prince Andrew meets RI trade minister

Whatever you say Ms. Stark

Tax Directorate General agrees on one percent income tax

Batam (ANTARA News) - The Tax Directorate General agreed to set the income tax on property at one percent of the price of a low-cost house or flat, general chairman of Real Estate Indonesia Teguh Satria said in Batam Tuesday night. Lost-cost homes and flats will be subject to an income tax of five percent of their sales price. "The tax director general has expressed agreement, but implementation still has to wait for a government regulations," he said.

Prince Andrew meets RI trade minister

Jakarta (ANTARA News) - Britain`s Prince Andrew met with Indonesian Trade Minister Mari Elka Pangestu on Tuesday in his capacity as an investment and trade envoy of the British Royal Family. Prince Andrew expressed keen interest in enhancing trade and investment relations between the two nations, Mari Pangestu said following the meeting.