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Fri, 24 Nov 2006
No investment without big changes: U.S. envoy
As long as Indonesia is unable to fix its corrupt bureaucratic and legal system, the country will find it difficult to attract foreign investment from the U.S. or other countries, the U.S. envoy here says.Ambassador B. Lynn Pascoe said in Jakarta on Wednesday that the meeting between U.S.
Fri, 24 Nov 2006
Banking sector problems could undermine macro recovery: BI
The central bank sees Indonesia's economy picking up further next year as both inflation and interest rates continue their downward trend, but warned that problems in the banking sector could undermine all the recent gains in macroeconomic stability.
Fri, 24 Nov 2006
Macquarie to finance Indonesian toll road project
Jakarta (ANTARA News/Asia Pulse) - Australia's Macquarie Group has agreed to provide a Rp6.6 trillion (US$733 million) loan to build the Solo-Ngawi-Kertosono toll road project.Head of Toll Road Regulatory Body (BPJT) Hisnu Pawenang said Macquarie may provide a long term loan with guarantee in the...
Fri, 24 Nov 2006
economy to grow by 6% as real estate sector revives
Jakarta (ANTARA News/Asia Pulse) - Indonesia's macro economy is likely to expand by six per cent in 2007, with the real estate sector showing signs of a revival and the nation's banks recording increases in lending, an observer said on Tuesday.
Fri, 24 Nov 2006
Exedy Corp enters Indonesia
Automotive component producer Exedy Corporation, Japan, enters Indonesia with its plan to invest USD13 million to build motorcycle component manufacturing facility in Pulogadung, Jakarta.Exedy Corporation (Japan) and Exedy Globalparts Corporation (USA) have established PT Exedy Motorcycle Indonesia...
Thu, 23 Nov 2006
Recovery underway, but more than just GDP matters
Recovery underway, but more than just GDP mattersHelmi Arman, JakartaThe third quarter national accounts show a slow but steady improvement in gross domestic product growth. However, to avoid overlooking important but somewhat obscure issues, analysis needs to be conducted over a longer time frame...
Thu, 23 Nov 2006
'Indonesia must find its own strengths in ICT field'
When President Susilo Bambang Yudhoyono attended the APEC Summit Meeting in Chile in late 2004, Craig Mundie, currently Microsoft's chief research and strategy officer, happened to be the person to whom it fell to introduce the President to the forum.
Thu, 23 Nov 2006
House to formulate draft bill on capital investment
Jakarta (ANTARA News) - The House of Representatives (DPR) will formulate the draft bill on capital investment to provide legal embralla to foreign investors wishing to put their capital in Indonesia."We actually want a profound discussion and approval of the draft bill in order to make it as one...
Thu, 23 Nov 2006
Economy to grow by 6 pct as real sector begins to move
Jakarta (ANTARA News) - The macro economy of Indonesia was predicted to grow by six percent in 2007 as the real sector had begun to move and the national banks have actively distributed credits to customers, an observer said.
Wed, 22 Nov 2006
Revitalizing real sector the main challenge: Indef
While the economy is expanding at a descent clip, the growth achieved to date has done little to help mitigate poverty as most of it has taken place in non-labor intensive sectors, an economic think tank says.
Wed, 22 Nov 2006
Bush visit to boost investors confidence in Indonesia: econom
Jakarta (ANTARA News) - US President George Walker Bush`s visit to Indonesia could increase foreign investors` confidence in Indonesia, economist Umar Juoro said."Bush`s visit could make foreign investors -- those intending to come here and those who already operate in the country -- more confident...
Wed, 22 Nov 2006
Indonesia GDP could grow by 7.0 pct in 2007 if infrastructure
Jakarta (ANTARA News) - GDP could grow 7 pct next year if the government speeds up infrastructure projects, Bank Internasional Indonesia's chief economist Ferry Latuhihin said."There is a chance for the economy to grow 7 pct next year, if the government accelerates the development of infrastructure...
Wed, 22 Nov 2006
Japan to accept Indonesian nurses, hotel trainees under econo
Tokyo (ANTARA News) - Japan will accept nurses, care workers and hotel trainees from Indonesia under a bilateral economic partnership agreement in the final stages of talks, the Nihon Keizai Shimbun reported, without citing sources.
Wed, 22 Nov 2006
Indonesia, US to cooperate in biofuel development - Yudhoyo
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono said the Indonesian and the US governments have agreed to cooperate in the development of biofuel to enable the two countries to become less dependent on oil."On energy, we (Indonesia and US) are going to cooperate in biofuel development.
Wed, 22 Nov 2006
Market Eyeing Bakrie Group Shares
TEMPO Interactive, Jakarta: Capital market analysts have predicted that investors will be focusing on Bakrie group's shares after PT Energi Mega Persada Tbk controversially sold Lapindo Brantas Inc to a foreign investor.
Wed, 22 Nov 2006
Excise Duty Rise Triggers Illegal Cigarettes
TEMPO Interactive, Jakarta: Ismanu Soemiran, Head of the Association of Indonesian Cigarette Producers, is of the opinion that cigarette excise duty rise to Rp10 per cigarette starting January 2007 will create financial losses for the state.
Tue, 21 Nov 2006
Govt lifts import duty, coal export tax
To attract investors to put their money in the country's vast energy resources, the Finance Ministry has lifted import duties on goods and equipment for oil and gas exploration and production as well as export tax on coal products.
Tue, 21 Nov 2006
Indian Oil Set to Join Retail Business
The Indian Oil Corp is set to enter the petroleum retailing business in Indonesia. The government-owned company plans to set up retail outlets in the country through a wholly owned subsidiary. The Indian Oil board in its next board meeting later this month is expected to approve the formation of...
Tue, 21 Nov 2006
Nuclear Plans to Go Ahead
Indonesia is pressing ahead with plans to construct nuclear power plants, Kyodo News reported on Thursday (16/11/06).“A technology and economic study has been done and we have come to a conclusion that these nuclear power plants are very viable for Indonesia,” Research and Technology Minister...
Tue, 21 Nov 2006
Indosat to Roll Out 3G Service
Indonesia's second largest mobile phone operator, PT Indosat, is aiming to launch its third-generation (3G) services by the end of the month, a senior company official said on Thursday (16/11/06).Two of Indosat's rivals, market leader PT Telkomsel and number three player PT Excelcomindo Pratama,...
Tue, 21 Nov 2006
Telkom: No Swift Impact from Competition
An influx of new foreign-backed competitors will not have an impact on PT Telkom's bottom line until 2008, a senior company executive said Tuesday (14/11/06).The massive infrastructure investment needed to allow new telecommunications firms to compete adequately in Indonesia will delay any impact...
Tue, 21 Nov 2006
FDI Approvals Higher
Approvals for foreign direct investment (FDI) rose 18% to $13.21 billion during the January to October period from the same period a year ago, a release from the state investment agency (BKPM) said on Tuesday (14/11/06).Domestic direct investment approvals more than tripled to Rp143.67 trillion.
Tue, 21 Nov 2006
Growth Rate Starts to Rise
Gross domestic product grew 3.49% in the third quarter from the second quarter, faster than expected, as the World Bank said in a report that the economy was in position to boost growth to between 6% and 6.5% next year. Compared with a year earlier, GDP grew 5.
Mon, 20 Nov 2006
Bush expected to help boost RI's biofuel development program
Jakarta (ANTARA News) - Indonesia`s preparations to develop biofuel will seemingly get a further boost when President Susilo Bambang Yudhoyono and US President Geoerge W Bush meet in Bogor, West Java, on Monday.
Mon, 20 Nov 2006
US$1.1b PGN pipeline expected to come onstream next month
President Susilo Bambang Yudhoyono has been drafted in to inaugurate a US$1.1 billion pipeline linking South Sumatra and West Java some time before the end of this year.The pipeline, which will be operated by state-owned gas distributor PT Perusahaan Gas Negara (PGN), will supply between 300...
Mon, 20 Nov 2006
Indonesia imposes zero tax on imported goods for upstream oil
Jakarta (ANTARA News) - The government has decided to impose zero tax on imported goods for upstream oil and gas projects in a bid to attract fresh investment into the sector, the Ministry of Finance said in a statement.
Mon, 20 Nov 2006
President talks with Singapore PM on special economic zone
Hanoi (ANTARA News) - Indonesian President Susilo Bambang Yudhoyono and Singaporean Prime Minister Lee Hsien Loong met on the sidelines of the Asia Pacific Ecconomic Cooperation (APEC) forum here on Saturday to discuss matters relating to the Special Economic Zone (SEZ) covering Batam, Karimun and...
Sun, 19 Nov 2006
`Government not serious' about inviting investors to regions
"The government has been slow to respond to the desire of investors to put their money into the provinces," claims a deputy speaker of the Regional Representatives Council (DPD)."The central government is just playing around.
Sat, 18 Nov 2006
Consumer spending drives GDP increase
Indonesia's economy appears to be on track again, growing by 5.52 percent in the third quarter ended Sept. 30 from the same period a year earlier on a revival in consumer spending and strong commodity exports, the Central Statistics Agency (BPS) reported Thursday.This is higher than the revised 5.
Sat, 18 Nov 2006
S'pore shipbuilders relocating to Batam
Fadli, The Jakarta Post, BatamWith Singapore restricting the growth of its shipbuilding industry due in part to environmental reasons, Batam and Karimun islands are taking advantage by attracting increasing numbers of shipbuilders from the neighboring country.
Sat, 18 Nov 2006
Growing commercial activity to up demand for office space
Growing commercial activity resulting from the overall improvement in the economy appears set to spur demand for office space in Jakarta.In its latest report, Jones Lang LaSalle says the demand for office space is expected to grow in line with increasing activity in such sectors as oil and gas,...
Sat, 18 Nov 2006
Lack of land and incentives hamper biofuel investment
Amid an ambitious government plan to develop the bioenergy sector, a lack of land for growing oil-producing crops and limited fiscal incentives pose significant obstacles to progress, a business group says.
Sat, 18 Nov 2006
Indonesian 3rd quarter GDP disappoints as consumption flat
Jakarta (ANTARA News) - Third quarter GDP growth was slightly below estimate partly because growth in private consumption, the largest component of the economy, remained flat, said Lim Su Sian, an economist with Singapore-based DBS.
Sat, 18 Nov 2006
Foreign investment in Indonesian property remains relatively
Jakarta (ANTARA News) - New investment in Indonesia's property market is still dominated by local investors, with foreign interest remaining relatively small, Jones Lang LaSalle said in its Q3 property market report.
Fri, 17 Nov 2006
Indonesia 3rd quarter GDP grows 5.52 pct
Jakarta (ANTARA News) - Indonesia's gross domestic product grew 3.49 pct in the third quarter compared to the previous three months and was up 5.52 pct year-on-year, said Central Bureau of Statistics chief Rusman Heriawan.The figures met market expectations.
Fri, 17 Nov 2006
Decline in foreign investment due to "bad luck"
Jakarta (ANTARA News) - The decline in realized foreign invstment projects in the January-October 2006 period by 47.6 percent compared to a corresponding period last year was more caused by "bad luck" than anything else, presidential spokesman Dino Patti Djalal said here Thursday"There has indeed...
Fri, 17 Nov 2006
Pertamina & McKinsey scandal
In the last few weeks, Koran Tempo consistently run the story about ellegation that state-owned oil and gas company PT Pertamina appointed US consulting firm McKinsey without proper tender. Pertamina agrees to pay around US$15 million to McKinsey as consultant for transformation program.
Fri, 17 Nov 2006
Medan to have new international airport
Multa Fidrus, The Jakarta Post, TangerangState airports operator PT Angkasa Pura II is set to build a new Rp 3.3 trillion (about US$300 million) international airport at Kualanamu, about 24 kilometer northeast of Medan, North Sumatra, to replace the severely congested Medan Polonia airport.
Fri, 17 Nov 2006
Lenovo ups competition in local PC market
Armed with a new marketing strategy, China-based computer manufacturer Lenovo launched its first consumer-oriented products in Indonesia on Wednesday to tap into the country's growing personal-computer market.
Fri, 17 Nov 2006
McKinsey Appointed Without Tender
TEMPO Interactive, Jakarta: Ari Sumarno, PT Pertamina Managing Director, has acknowledged the appointment of the consultant McKinsey for the transformation program was carried out without tender.The pattern of consultant appointment was by a 'beauty contest'.
Fri, 17 Nov 2006
Gas Company Targeting 2 Million Customers
TEMPO Interactive, Jakarta: PT Perusahaan Gas Negara Tbk (the State Gas Company) is targeting to gain two million customers by 2010.Managing Director of the company W.M.P. Simandjuntak has said that in order to reach this target, the company requires capital expenditures of around US$1 billion or...
Thu, 16 Nov 2006
Batam full, shipyards turning to Karimun
Batam (ANTARA News) - Some 33 shipyards grouped in the Batam Shipyard Offshore Association (BSOA) have started turning to Karimun islands for their new investment as Batam has already become too full of business activities.
Thu, 16 Nov 2006
15 Business Sectors to Get Tax Incentives
TEMPO Interactive, Jakarta: The government has decided to give tax incentives to 15 business sectors by the beginning of next year.The tax relief can be realized because the government has finished revisions of the Governmental Regulation Number 148/2000 concerning Facilities of Income Tax for...
Thu, 16 Nov 2006
World Bank Asks for Continuation of Direct Subsidy
TEMPO Interactive, Jakarta: The World Bank has asked that the government not to stop its direct cash subsidy (SLT) program as compensation for the fuel price rises.The reason for this is that the program is considered as being capable of neutralizing the impact of the price rises.
Thu, 16 Nov 2006
Singapore Still Reluctant About Handling Money Laundering
TEMPO Interactive, Jakarta: Indonesia is finding it difficult to cooperate with Singapore in handling money laundering.Yunus Husein, Head of the Center of Report and Analyzes of Financial Transaction (PPATK), said that Indonesia has twice proposed the signing of a memorandum of understanding about...
Thu, 16 Nov 2006
Sluggish US Economy Threatens Indonesia
TEMPO Interactive, Jakarta: It is predicted that the United States’ economic growth will be sluggish next year and this will influence Asian economies, including Indonesia’s.“Directly or indirectly, US economic growth influences Indonesia,” said Ian Morris, HSBC’s senior US economist,...
Thu, 16 Nov 2006
World Bank forecasts stronger growth for RI
Indonesia's economy will not only weather the expected global slowdown next year, but will expand by 6.2 percent, the fastest growth rate for 10 years, says the World Bank's latest economic assessment on the country and other Asian nations.
Thu, 16 Nov 2006
Telkomsel expects to win 7 mln new subscribers in 2007
Jakarta (ANTARA News) - Indonesian mobile phone service provider PT Telkomsel, a subsidiary of state-owned telecom firm Telkom, expects to gain seven million new customers next year, the company president said Tuesday.
Thu, 16 Nov 2006
Bali unveils Aussie tourism ad
From correspondents in LombokNovember 14, 2006 06:41pmArticle from: AAPBALINESE tour operators have turned the tables on Australia with a new internet ad demanding to know: "Aussie, where the Bali are ya?!".
Thu, 16 Nov 2006
Nuclear Generating Plant to be Built at Ujung Lemah Abang
TEMPO Interactive, Jakarta: The government has set Ujung Lemah Abang, Murian Peninsula, Central Java, as the location for constructing a nuclear-based electric generating plant. The tender will be offered in 2008 and construction will be carried out in 2011.