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Fri, 28 Jan 2011
Online Giant eBay Shifts Focus as It Enters Indonesian Market
Even with its relatively recent arrival in the country, eBay sees huge potential in the Indonesian market.The world’s largest online marketplace was officially introduced in October through its partnership with plasa.
Fri, 28 Jan 2011
Progressive Tariff Hurts Businessmen
TEMPO Interactive, Jakarta:Suryadi Sasmita, the Indonesia Businessmen Association’s secretary general says the plan to apply a progressive tariff at Tanjung Priok Port is not the solution to reducing the number of overloaded containers.
Fri, 28 Jan 2011
Bali`s canned fish exports worth US$20.08 million
Denpasar (ANTARA News) - The Indonesian tourist resort island of Bali exported 8,488.8 tons of canned fish worth US$20.08 million in the January - November 2010, Head of Bali`s Maritime and Fisheries Service I Gusti Putu Nuriatha said.
Fri, 28 Jan 2011
President calls for correction of global economic imbalances
Davos (ANTARA News) - President Susilo Bambang Yudhoyono has called for international cooperation to correct global economic imbalances and accelerate reforms in the financial sector and international financial institutions.
Fri, 28 Jan 2011
S Korea provides 100 million US dollars for Karian reservoir project
Jakarta (ANTARA News) - The South Korean government through KOICA (Korean International Cooperation Agency) is providing at least 100 million US dollars for the building of the Karian Reservoir in Banten.
Fri, 28 Jan 2011
Trading Permit Delays Threaten Exports
An ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on Thursday.“It will create a negative impression for coal mining investors in the future,” Supriatna Suhala, executive director of the Indonesian Coal Mining Association (APBI), said...
Fri, 28 Jan 2011
British Pushing for Better Investment Environment in Indonesia
Representatives from the British government on Thursday urged Indonesia to provide better investment conditions, including improved infastructure.“Lord Powell expressed some concerns about improvements needed for investment, including the roads, the harbors and electricity,” spokesman Yopie...
Thu, 27 Jan 2011
RI tourism needs to be more competitive : UN-WTO
Jakarta (ANTARA News) - The UN-World Tourism Organization (UN-WTO) is of the opinion that Indonesian tourism should be more competitive than other countries in the Asian region."Indonesian tourism is very good but it should be more competitive," Coordinator Consulting Unit on Tourism and...
Thu, 27 Jan 2011
Japan interested in kesambi oil investment
Kupang, East Nusa Tenggara (ANTARA News) - Bec Japan, a Japanese investor, wants to invest in kesambi oil (Schleichera oleosa) in East Nusa Tenggara province, Vice Governor Esthon Foenay said here Tuesday.
Thu, 27 Jan 2011
Investment realization for 2010 almost no surprise: observer
Jakarta (ANTARA News) - Investment realization in Indonesia in 2010 which showed a significant achievement has come almost as no surprise because their agreement date back to two or three years, according to an economic observer.
Thu, 27 Jan 2011
Australian envoy addresses IABC members
Jakarta (ANTARA News) - Australian Ambassador to Indonesia Greg Moriarty addressed the Indonesia Australia Business Council (IABC) members and guests during their Australia Day Business Luncheon and Investiture at the Intercontinental MidPlaza Hotel here on Wednesday.
Wed, 26 Jan 2011
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.
Wed, 26 Jan 2011
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...
Wed, 26 Jan 2011
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.The agreements signed included bilateral cooperation in urea manfacturing; development of an industrial...
Wed, 26 Jan 2011
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.
Wed, 26 Jan 2011
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.
Wed, 26 Jan 2011
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.
Wed, 26 Jan 2011
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...
Wed, 26 Jan 2011
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...
Mon, 24 Jan 2011
Indonesia Jakarta Sees High Unemployment Rate
VIVAnews - Transmigration and Manpower Agency of Jakarta was negative about the targeted decrease of employment rate in the Indonesian capital. The budget only allocates Rp12 billion, lower than the 2011 State Budget of Rp38 billion.
Mon, 24 Jan 2011
Mitsubishi decides on $2.8 billion Indonesia LNG project
TOKYO (Reuters) - Mitsubishi Corp (8058.T) said on Monday it will invest in a liquefied gas development project worth $2.8 billion in Indonesia via a joint venture with companies including Korea Gas Corp (KOGAS) (036460.KS).
Mon, 24 Jan 2011
India Invests US$ 15 Billion
TEMPO Interactive, Jakarta:President Susilo Bambang Yudhoyono’s visit to India on an economic cooperation mission next week is believed to facilitate India’s investment plan in Indonesia worth US$ 15 billion.
Mon, 24 Jan 2011
JICA Assists Local Industry
TEMPO Interactive, MAKASSAR:The South Sulawesi government is cooperating with the Japan International Cooperation Agency (JICA) to develop the passion fruit, cocoa, silk and marble industries. “The evaluation result of JICA’s part time work in South Sulawesi showed there are many commodities...
Mon, 24 Jan 2011
Indonesia a Top Destination for Foreign Investors
TEMPO Interactive, Jakarta:The president director of PT CIMB Securities Indonesia Bernard Thien, says that Indonesia is now a favorite destination for foreign investors. Investment returns over the past five years have made Indonesia a popular choice for investors, he said.
Mon, 24 Jan 2011
INCO Asked to Leave South Sulawesi
TEMPO Interactive, Jakarta:Southeast Sulawesi Governor Nur Alam has asked PT International Nickel Indonesia to cease operating in the province due to negligent practices, while new investors are already queuing to replace the nickel miner.
Mon, 24 Jan 2011
Indonesia to develop Bali port to cope with int'l standard
JAKARTA, Jan. 24 (Xinhua) -- Indonesia's state-owned port company Pelindo III will develop Bali provincial port of Benoa to cope with international standard, a top executive said here on Monday.Jarwo Suryanto, president director of Pelindo III, told a parliamentary hearing that in 2010, as many as...
Mon, 24 Jan 2011
Indonesian president departs for India visit
JAKARTA, Jan. 24 (Xinhua) -- Indonesian President Susilo Bambang Yudhoyono on Monday departed to India for a working visit, planning to sign over 30 investment deals valued at over 15 billion U.S. dollars, local media reported.
Mon, 24 Jan 2011
W Nusa Tenggara needs Rp45 tln in investment
Mataram, W Nusa Tenggara (ANTARA News) - West Nusa Tenggara province needs Rp45 trillion in investment to achieve an economic growth rate of 6-7 percent in 2014, an official said."This means that we need at least Rp9 trillion in investment a year," H.M.
Mon, 24 Jan 2011
Investment in 2010 sharply Increases 54.2 pct
Jakarta (ANTARA News) - The Investment Coordinating Board (BKPM) recorded the domestic (PMDN) and foreign (PMA) investments in Indonesia in 2010 increased 54.2 percent from Rp135.2 trillion in 2009 to Rp208.5 trillion, its chief said.
Mon, 24 Jan 2011
RI aims to lure Rp240 tln investment this year
Jakarta (ANTARA News) - The Investment Coordinating Board (BKPM) has set a target of luring Rp240 trillion of investment this year, up 15 percent of the realized investment of Rp208.5 trillion last year.
Mon, 24 Jan 2011
President`s Indian Trip to Enhance Investment
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono`s two-day working trip to India is expected to enhance economic cooperation between the two countries in the field of trade and investment."The visit to India is intended to step up bilateral cooperation between the two countries in...
Thu, 20 Jan 2011
Industry Warns New Tax May Worsen Prices Spiral in Indonesia
A government policy to impose import duties on raw materials may push fertilizer prices up and consequently food prices as well, an industry executive warned on Wednesday.On Dec. 22 the Finance Ministry began imposing an average 5 percent import duty on capital goods, where previously there was...
Wed, 19 Jan 2011
A Voyage Into the Darkness of Indonesian Corruption
If Jonathan Swift had written a satire on corruption in Indonesia, he couldn't have imagined a more farcical plot than that involving Gayus Tambunan. In just eight months, the detained civil servant, a mid-level tax official, managed to bribe his way out of prison 68 times, fly to at least three...
Wed, 19 Jan 2011
Indonesia Pursues ‘Investment-Grade’ Rating
TEMPO Interactive, Jakarta:Bank Indonesia Governor Darmin Nasution said the decision made by Moody's to increase Indonesia’s debt rank was an acknowledgment from the international community that Indonesia’s fundamentals were improving.
Wed, 19 Jan 2011
Hundreds of Problematic Regulations Annulled
TEMPO Interactive, Jakarta:The Home Affairs Ministry has found that 329 regional regulations were problematic throughout 2010. The ministry later asked the regional governments to revise or annul the relevant regulations.
Wed, 19 Jan 2011
Sasol Withdraws From $10 Billion Project in Indonesia Over Lack of Coal
Sasol Ltd., the largest producer of motor fuels from coal, abandoned a plan to build a $10 billion coal-to-fuels plant in Indonesia to focus on opportunities in the gas-to-fuels industry.The South African company wants to accelerate talks with the Indonesian government about other gas-to-liquids...
Wed, 19 Jan 2011
Jakarta Property Sector Still Sees High Demand
The property sector in Greater Jakarta is expected to show positive growth this year, although lower than it managed last year, on the back of positive macroeconomic conditions and the global economic recovery.
Wed, 19 Jan 2011
Investment Forecast to Continue Growing
Domestic and foreign investment in Indonesia is forecast to increase to Rp 230 trillion ($25.5 billion) this year, higher than the Rp 200 trillion of realzed investment last year, an Investment Coordinating Board (BKPM) executive said.
Tue, 18 Jan 2011
Java Island Not Leading Nation In Personal Income, Survey Says
Where do they get their numbers from. They should try wandering into a few villages where 70% of the population earn a max of Rp400,000/month with a good few on Rp200,000/month.Houses with dirt floors, people unable to eat properly and sod all chance of school for the kids.
Tue, 18 Jan 2011
Indonesian leader orders corruption probes
President Susilo Bambang Yudhoyono sought to bolster his anti-corruption credentials by ordering Indonesia authorities to look into dozens of companies allegedly linked to a tax official who amassed millions of dollars in bribes.
Tue, 18 Jan 2011
Singapore Eyes More Investment in Indonesia: Report
The Government of Singapore Investment Corp (GIC) wants to step up its investment in fast-growing Indonesia, particularly in infrastructure, a top executive said in remarks published Monday.The state investment agency will work with its Indonesian partners to study the various infrastructure...
Tue, 18 Jan 2011
Singapore Eyes More Investment in Indonesia: Report
The Government of Singapore Investment Corp (GIC) wants to step up its investment in fast-growing Indonesia, particularly in infrastructure, a top executive said in remarks published Monday.The state investment agency will work with its Indonesian partners to study the various infrastructure...
Tue, 18 Jan 2011
Java Island Not Leading Nation In Personal Income, Survey Says
A survey released on Monday included a finding that may come as a surprise to the financial movers and shakers in Jakarta.Credit Suisse issued its first Emerging Consumer Survey on spending profiles in seven emerging economies, including Indonesia.
Tue, 18 Jan 2011
Pulp, paper industry attracts US$16 bln investment
Jakarta (ANTARA News) - The pulp and paper industry in Indonesia has developed vastly and attracted an investment worth US$16 billion, Forestry Minister Zulkifli Hasan told a seminar here on Monday.He said that pulp and paper industry at home was able to absorb 242,822 workers and contribute US$4...
Mon, 17 Jan 2011
Moody's upgrades Indonesia's sovereign ratings
TOKYO (MarketWatch) -- Moody's Investors Service said Monday it upgraded Indonesian government's foreign- and local-currency bond ratings to Ba1, from Ba2, with stable outlook. Moody's said in a statement that its main reasons for the move were the country's economic resilience, accompanied by...
Mon, 17 Jan 2011
Indonesian crop failures add to food fears
Indonesian farmer Ujang Majudin pointed to rows of rotting chilli peppers, tomatoes and egg plants as clouds gathered again over his fields, already water-logged by incessant rain.With sharply declining yields and revenue, he faces the toughest season since taking over the family farm 15 years ago.
Mon, 17 Jan 2011
Ministry Wants Commitment from RIM
TEMPO Interactive, Jakarta:The Communication and Information Ministry will demand a written commitment from Research In Motion (RIM), the service provider for Blackberry in a meeting scheduled for January 17.
Mon, 17 Jan 2011
Bali`s carp exports reach 402.2 tons
Denpasar, Bali (ANTARA News) - Bali exported a total of 402.2 tons of fish estimated at 1.82 million US dollars in the eleven months in the January-November 2010 period, in volume it was a 34.93 percent increase, and terms of value it is a 83.
Mon, 17 Jan 2011
RI industrialists not using common sense
Jakarta (ANTARA News) - Dahlan Iskan, president director of state electricity company PT PLN, has accused Indonesian industrialists of being spoiled and not using their common sense in rejecting the new basic electricity tariff for industry.
Mon, 17 Jan 2011
Minister: Palmoil, rubber, promising commodities
Sawang, Aceh (ANTARA News) - State Enterprises Minister Mustafa Abubakar said palm oil and rubber commodities are promising and therefore he called on banks not to hesitate to extend credit for palm oil and rubber plantation development.