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Fri, 23 May 2008
Soekarno-Hatta's Terminal 3 operational in December
Terminal 3 of the Soekarno-Hatta International Airport will be operational in December, president director of state-owned airport operator PT Angkasa Pura II Edie Haryoto said Thursday."The new terminal will be able to handle four million people, increasing the airport's capacity to 22 million...
Fri, 23 May 2008
Sorghum as alternative food staple
Indonesia is likely to cultivate sorghum as an alternative food staple to wheat as many factors hinder the latter's local production, a food expert says."Since wheat is a subtropical plant, we need to focus first on cultivating a tropical breed," said Listyani Wijayanti, from the State Ministry of...
Fri, 23 May 2008
President ready to risk popularity for the economy
Presidential spokesman Andi Mallarangeng said President Susilo Bambang Yudhoyono was ready to lose popularity over his plan to raise subsidized fuel prices to preserve the economy."The president realizes that raising fuel prices carries a political risk.
Fri, 23 May 2008
Indonesia awards five oil-and-gas contracts
Jakarta (ANTARA News) - Indonesia has awarded five oil and gas exploration and development contracts to four companies including Italy's ENI, the energy ministry said Friday.ENI Indonesia Ltd. was awarded the contract for a block in West Timor, ministry oil and gas director general Luluk Sumiarso...
Fri, 23 May 2008
PT Bakrie Indo eyes infrastructure projects valued at US$5 bln
Jakarta (ANTARA News/Asia Pulse) - PT Bakrie Indo Infrastructure said it hopes to win more infrastructure projects, mainly power generating projects, worth US$5 billion until 2013.The target does not include three projects worth US$2.
Fri, 23 May 2008
Indonesia monorail scheme `implausable`: World Bank
Jakarta (ANTARA News) - A long-delayed plan to privately fund a monorail to ease congestion in Indonesia's traffic-choked capital is "completely implausible", the World Bank said here Friday.The plan to build the 27-kilometre (17 miles) network entirely with private sector money would be...
Thu, 22 May 2008
Bhakti Group to expand in media, telco
Widely diversified Bhakti Group said it will invest at least $180 million this year to expand business in the mass media and telecommunications sector, Asia Pulse reported Monday.Hary Djaja, president of holding company PT Bhakti Investama, said mass media subsidiary PT Media Nusantara Citra plans...
Thu, 22 May 2008
Investment continues in plantation sector
New investment plans totaling $376.5 million were announced last week for the plantation sector, as returns continue high for commodities such as crude palm oil. Singapore-listed Indofood Agri Resources (Indoagri) said it will soon acquire 60% of PT Laju Perdana Indah at a price of Rp375 billion...
Thu, 22 May 2008
World Bank to stop soft loans to Indonesia
The World Bank said it will stop offering soft loans to Indonesia as the country has been promoted to the category of middle income nation starting June, Asia Pulse reported Wednesday.Country director Joachim von Amsberg said the donor agency will no longer accept IDA requests from Indonesia, which...
Thu, 22 May 2008
Boediono points to 7% growth in one-three years
Outgoing chief economic minister Boediono said Friday that he hoped economic growth can "return to the level of 6.5% to 7%" within the next one to three years, Dow Jones reported.Boediono, who is going to take up the position of Governor of Bank Indonesia, said rate increases by the central bank...
Thu, 22 May 2008
Pyridam to invest Rp 7b for plant's infrastructure
Publicly listed pharmaceutical company PT Pyridam Farma announced Monday it plans to spend about Rp 7 billion (US$753,900) this year to upgrade its facility in Cianjur, West Java.Corporate secretary Ryan Arvin said Monday up to Rp 5 billion would be spent on developing the factory's water system...
Thu, 22 May 2008
Govt lowers industrial growth target further to 5%
The ministry of industry has revised down the country's industrial growth target for the third time in five months to between 4.5 and 5 percent in response to the government's plan to increase fuel prices.The fuel price increases, expected to happen in June by an average of 28.
Thu, 22 May 2008
Kuwaiti cos offer to finance Indonesian coal gasification project
Jakarta (ANTARA News/Asia Pulse) - Two Kuwaiti companies have offered to finance a US$1.5 billion coal gasification project of state-owned fertilizer company PT Pupuk Kaltim, an Indonesian official said.
Thu, 22 May 2008
Indonesia looks to Papua to expand palm oil plantations
Jakarta (ANTARA News) - Indonesia, the world's largest palm oil producer, is now looking at its vast easternmost provinces in Papua to expand its palm oil plantations, a senior official said Wednesday."After Sumatra and Kalimantan became too dense for new palm oil plantations, the only land...
Thu, 22 May 2008
Indonesia to hike subsidised fuel prices by 28.7 percent
Jakarta (ANTARA News) - The Indonesian government will raise prices of subsidised fuel products by an average 28.7 percent as it cuts subsidy spending amid the relentless surge in global crude oil prices.
Thu, 22 May 2008
Temasek appeals Indonesian court ruling on anti-monopoly case
Singapore (ANTARA News) - Singapore state-linked investment company Temasek Holdings said it has filed an appeal to Indonesia's Supreme Court contesting a lower court's verdict that found it guilty of violating anti-monopoly regulations in the country's telecommunications industry.
Tue, 20 May 2008
New BPMigas chief seeking to reduce loopholes for extra costs
Quote:We still stick with 85 percent to 15 percent in favor of the government in terms of oil production, and 65 percent to 35 percent in favor of the government in terms of gas production. We think with oil prices hitting new records, such arrangements are still attractive for investors.
Tue, 20 May 2008
Land status may trouble strata title property owners
Owners of strata title properties must pay attention to the land status of their offices or apartments, especially when the developers only earn Building Rights to establish the properties, an expert says.
Tue, 20 May 2008
New BPMigas chief seeking to reduce loopholes for extra costs
Ika Krismantari, The Jakarta Post, JakartaUpstream oil and gas regulator BPMigas is responsible for ensuring oil and gas contractors operating in the country generate full benefit for the people, as demanded by the 1945 Constitution.
Tue, 20 May 2008
Motorcycle sales set to weather proposed fuel price increase
Unlike most products on the market, motorcycle sales are likely to weather the pressure from a fuel price rise and may even have to revise up their sales target, market players say.The Indonesian Motorcycle Industry Association (AISI) projected sales of 5.2 million units this year, up from 4.
Tue, 20 May 2008
RI business progress remains dependent on govt support: VP
Business in Indonesia still relies on political rather than technical or professional support, Vice President Jusuf Kalla said Saturday, which allowed unfair competition among businessmen close to the government.
Tue, 20 May 2008
Doubts over Pertamina plan to limit fuel purchases
PT Pertamina may have trouble limiting fuel transactions to stop panic buying in response to planned fuel price increases because of a lack of regulations for implementing the policy.Several gas stations in Jakarta have yet to limit purchases because of confusion over how to put the policy in place.
Tue, 20 May 2008
Rio Tinto to start building US$2 bln nikcel mine in Sulawesi
Jakarta (ANTARA News/Asia Pulse) - Rio Tinto (ASX:RIO) is expected to start work on a US$2 billion investment in a nickel mining project in Lasamphala, Central Sulawesi in the second half of this year.Head of the Investment Coordinating Board (BKPM), Muhammad Lutfi, said the agency and the home...
Tue, 20 May 2008
PT Pamapersada to develop coal mines
Jakarta (ANTARA News/Asia Pulse) - PT Pamapersada Nusantara said it has won a contract worth US$1 billion to develop coal mines for PT Jembayan Muarabara.The subsidiary of heavy equipment company PT United Tractors (JSX:UNTR) will help in digging and removing soil in a coal mine with an estimated...
Tue, 20 May 2008
Indonesian investment chief defends Temasek ruling
Jakarta (ANTARA News) - Indonesia's investment agency chief on Monday rejected suggestions that a court ruling against Singapore's Temasek Holdings for alleged breach of anti-monopoly laws would deter foreign investors.
Sun, 18 May 2008
Study finds widening salary gap in Indonesia
Mariani Dewi, The Jakarta Post, Jakarta The gap in salaries between managers and clerics in Indonesia widened last year from 2006 in part because of a shortage in talent amid the country's growing economy, a global study says.
Sat, 17 May 2008
Inflation must be lowered to 3-4 percent to improve economic condition
Jakarta (ANTARA News) - Chief economic minister Boediono said Indonesia had to achieve an inflation rate of between three and four percent in the medium term in order to create better economic conditions."We will keep striving to lower the inflation rate in the medium term to three or four percent.
Sat, 17 May 2008
Indonesia Power Invests US$100 Million in Hydropower plant
Jakarta (ANTARA News) - PT Indonesia Power has invested US$100 million to optimize the operation of three hydropower plants (PLTA) managed by Perum Jasa Tirta II in Purwakarta, West Java, a spokesman said.
Sat, 17 May 2008
Tap water firms draft business plan for debt restructuring
The Indonesian Drinking Water Association (Perpamsi), which groups together hundreds of heavily indebted state tapwater firms (PDAMs), is drafting a standardized business plan to help restructure their debts.
Sat, 17 May 2008
Power Telecom expands Java network
Fiber optic network provider PT Power Telecom has started the second phase of a project spanning Java that will help increase Internet and telecommunication subscribers, an official says.The project consists of an 833 kilometer high-speed connection linking Jakarta and Surabaya, which will...
Sat, 17 May 2008
Chinese firms take a closer look at RI's investment potentials
A delegation of 174 business players from China met Indonesian counterparts Thursday to discuss Indonesia's potential for investment and business cooperation.The delegation, the biggest in number from China so far, included representatives from five sectors: Mining and energy; small to medium scale...
Sat, 17 May 2008
Pertamina to buy more LPG and import more fuels
State oil and gas company PT Pertamina plans to buy 40,000 tons of liquefied petroleum gas (LPG) from ConocoPhilips for US$32 million to secure its May supply, which has been disrupted by a glitch at its Balongan refinery in West Java.
Sat, 17 May 2008
Govt accelerates import duty reduction
Aditya Suharmoko, The Jakarta Post, Jakarta The Finance Ministry has prematurely reduced import duties on raw materials to help domestic industries compete with rival products from overseas.The Ministry's head of fiscal policy (BKF), Anggito Abimanyu, said Thursday the reduction applied to duties...
Sat, 17 May 2008
Chinese firms give closer look at Indonesian investment potentials
A delegation of 174 businessmen from China has met Indonesian counterparts recently to discuss Indonesia's potential for investment and business cooperation, local press said Friday.The delegation, the biggest in number from China so far, included representatives from five sectors: Mining and...
Sat, 17 May 2008
Govt to seek offers for airport train projects
The government is seeking offers for the construction of a railway linking Jakarta with the Soekarno-Hatta International Airport in Cengkareng, Banten, after the previous winner failed to start construction, an official said Friday.
Sat, 17 May 2008
Wika sees 42% rise in net sales
Publicly listed PT Wijaya Karya (Wika), a state-owned construction and engineering company, projected a 42 percent increase in net sales revenues to Rp 6.1 trillion (US$655 million) this year on the back of booming construction, procurement and engineering work.
Fri, 16 May 2008
Medco invests around US$1 bln to diversify business
Jakarta (ANTARA News/Asia Pulse) - The Medco Group said it will invest at least US$1 billion to diversify its business. The group whose core business is in the oil and gas industry, has established new companies - PT Medco Mining, PT Medco Agro and PT Medco Papua.
Fri, 16 May 2008
Leighton Wins Coal Mining Contract
Friday, 16 May, 2008 | 14:03 WIBTEMPO Interactive, Jakarta: Leighton International, sister company of Leighton Holdings Limited Group, an undertaking for project development and the biggest contractor in Australia, won the contract worth US$350 million from the PT Mahakam Sumber Jaya (MSJ) , mining...
Fri, 16 May 2008
Pertamina needs to be reformed: legislator
Semarang (ANTARA News) - Chairman of the Indonesian Demotratic Party of Struggle (PDIP) faction in the House of Representatives (DPR) Tjahjo Kumolo said his party rejected the government`s fuel oil price hike plan and was asking for the reform of state-owned oil company Pertamina for it lacked...
Fri, 16 May 2008
Rp20 Billion allocated for Bali tourist port construction
Denpasar (ANTARA News) - The government through the Transportation Ministry allocated Rp20 billion in 2008 for the construction of Amuk Port in Karangasem district, Bali, for cruise ships."The allocation of funds is the second phase after the Transportation Ministry disbursed Rp10 billion for the...
Fri, 16 May 2008
Software piracy rate drops, but financial losses swell
Software piracy in Indonesia dropped last year, but total estimated losses swelled due to market growth, a report says.The rate of piracy dropped one percentage point to 84 percent in 2007, although the gap was hardly closed to neighbors Malaysia, with 59 percent, and Singapore, with 37 percent.
Fri, 16 May 2008
Govt eyes wood products certification body
With help from the Indonesian Ecolabelling Institute (IEI) and the European Union, the government is developing an executive body under the Forestry Ministry to be responsible for the certification of sustainable wood products and production system.
Fri, 16 May 2008
Weakened spending power set to hit electronics sales
The Electronics Marketers Club (EMC), which groups together top electronics distributors, is predicting a tough time ahead for the industry as a government-planned fuel price increase is set to hurt purchasing power and sales.
Fri, 16 May 2008
China and India Look For Coal in Indonesia
Thursday, 15 May, 2008 | 16:09 WIBTEMPO Interactive, Jakarta: Companies from India and China are seeking coal in Indonesia. They are National Thermal Power Corp (NTPC) (an electrical company from India); Power Trading Company (PTC); Larsen and Turbo; Reliance; Agrawal Coal; and Watien.
Fri, 16 May 2008
President Meets Director of Intel Corporation
Thursday, 15 May, 2008 | 16:35 WIBTEMPO Interactive, Jakarta: President Susilo Bambang Yudhoyono met Director of the Intel Corporation, Craig R. Barret at the President's office at 2pm today. Information and Communication Minister, M.
Fri, 16 May 2008
Bali to build modern port for cruise ships
Denpasar (ANTARA News) - A modern and permanent port for foreign cruise ships will be built in the Indonesia`s island resort of Bali, chief of Bali Provincial Transportation Office Putu Sujana Cahyanta said here on Thursday.
Fri, 16 May 2008
Indonesian economy grows 6.28 pct in first quarter: official
Jakarta (ANTARA News) - The Indonesian economy grew 6.28 percent in the first quarter compared with a year ago, driven by exports and investment, an official said Thursday.Exports grew 15.03 percent in the first three months of the calendar year while investment surged 13.
Fri, 16 May 2008
Govt hopes China to increase investment in Indonesia
Jakarta (ANTARA News) - The Indonesian government hopes that China will increase its investment in Indonesia which so far only accounts for 0.3 percent of the total foreign investments in the country, a minister said.
Fri, 16 May 2008
Riau to invite foreign investment in plantation, fishery sectors
Jakarta (ANTARA News) - The Riau provincial administration will invite foreign businessmen to run some projects in the province, mainly in the plantation and fishery sectors, during the Indonesian Regional Investment Forum (IRIF) to be held here on May 26 and 27.
Fri, 16 May 2008
RI`s Q2 business situation better: BPS
Jakarta (ANTARA News) - Indonesia`s business tendency index (ITB) in the second quarter of 2008 is 108.1, meaning that the business situation over the period is better than in the previous quarter, the Central Bureau of Statistics (BPS) said.