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Thu, 30 Nov 2006
Beijing, Jakarta put business before history
JAKARTA - China's growing appetite for natural resources and Indonesia's position as Asia's resource-richest country are pulling the longtime regional adversaries together in a mutually beneficial commercial embrace.
Thu, 30 Nov 2006
Weak Protection for Buyers of Foreign Property
TEMPO Interactive, Jakarta: Association of Indonesia Real Estate Broker has said he considers that the protection for Indonesian consumers as regards purchase of foreign property is still weak.In addition, according to Chairman of Association of Indonesia Real Estate Broker Tirta Setiawan,...
Thu, 30 Nov 2006
Govt needs to 'walk the talk': ABAC
"Stop talking and start working" is the strong message sent by Indonesian business to the government in relation to its efforts to increase investment and improve the country's competitiveness amid the challenges of rapid globalization.
Thu, 30 Nov 2006
APINDO wants wage system changed
Amid a nationwide clamor for minimum-wage increases, a powerful employers' grouping has argued the need for wage levels to be tied to productivity."Provincial, regency and municipal administrations should be deprived of the right to set the minimum wage as they don't assess worker productivity,"...
Thu, 30 Nov 2006
Concerned about gas, Japan signs trade framework
Tokyo (ANTARA News) - Indonesia signed Tuesday the framework for a free trade deal with Japan, which sought firm guarantees for the archipelago's gas exports and took the rare step of agreeing to let in its workers.
Wed, 29 Nov 2006
Tax Breaks on Oil Equipment Extended
Indonesia has extended tax breaks on imports of equipment for oil exploration through to next year in a bid to boost investment in the energy sector, a Finance Department statement said.Authorities abolished import tariffs on oil drilling equipment in 2005 after pleas from oil contractors operating...
Wed, 29 Nov 2006
Bush Supports Indonesia Bio-fuel Initiatives
The US is "very supportive" of biofuel initiatives, President George Bush said on Monday (20/11/06) during a visit to Indonesia, which is trying to develop that sector as it copes with growing energy demand.
Wed, 29 Nov 2006
PGN Plans Compressed Natural Gas Project
State-owned gas distributor PT PGN said on Tuesday (21/11/06) it plans to invest $400 million developing a compressed natural gas project.The company's corporate secretary, Widyadmiko Bapang, said the project is part of the government's effort to reduce the country's oil product consumption in the...
Wed, 29 Nov 2006
Pertamina to Build $1.3b Cracker at Cilacap
State-owned PT Pertamina will spend $1.3 billion to build a 40,000 to 50,000 barrel-per-day (bpd) cracking unit at its Cilacap refinery, an official said Wednesday (22/11/06)."The new cracking unit will enable us to shift production from fuel oil to more valuable products, such as gasoline and...
Wed, 29 Nov 2006
Mobile Market Tipped to Expand 27% Annually
Indonesia’s mobile telecommunications market is predicted to expand 27% annually in the next four years, with subscribers estimated to reach 155 million in 2010.Sales director of Nokia Networks Asia Pacific, Ashwini Bakshi, said the country’s mobile telecommunications market is unique because...
Wed, 29 Nov 2006
Krakatau Steel in Talks on $450m Factory
State-owned steel maker, PT Krakatau Steel, said it will hold talks with a Saudi Arabian company on plans to build a $450 million steel factory in South Kalimantan, Antara reported on Wednesday (22/11/06).
Wed, 29 Nov 2006
Indonesia to Invest $88.4m in New Ships
The Transportation Department on Monday (20/11/06) announced a plan to build 48 new pioneer ships worth Rp796 billion ($88.4 million) in five years.The department’s Director General for Sea Transport, H Harijogi, said the country has 52 pioneer ships and needs 48 more in the next five years to...
Wed, 29 Nov 2006
Indonesia Offers 25 Fishing Port Projects
The Maritime and Fishery Department has offered foreign investors the opportunity to build 25 outer-ring fishing ports valued at Rp15 trillion ($1.66 billion), Antara reported on Tuesday (21/11/06).Six of the port projects have been proposed to the National Development Planning Board to be included...
Wed, 29 Nov 2006
RI likely to extend contract on LNG export to Japan
Tokyo (ANTARA News) - President Susilo Bambang Yudhoyono hinted here on Tuesday that Indonesia might agree to extend the contract on Indonesian liquefied natural gas exports to Japan which would expire in 2011.
Wed, 29 Nov 2006
PT Timah sees refined tin output above target
Jakarta (ANTARA News) - PT Timah's output of refined tin this year will be above its target of 38,407 tons because of the increased supply of ore from unconventional miners resulting from the government's action last month against illegal smelters, Timah corporate secretary Prasetyo Budi Saksono...
Wed, 29 Nov 2006
ANIndian motorbike maker to launch two new products in RI in 2006
Jakarta (ANTARA News) - India-based motorcycle producer PT TVS Motor Company will launch two kinds of motorcycle, namely one with a 100-cc engine and another with a 150-cc engine, in Indonesia later this year, a spokesman said here Tuesday.
Wed, 29 Nov 2006
The rich, the poor and the new middle class
ACNielsen's methodology is different, they use household expenditure. There is way, way tooooo much guesswork involved with determining individual income like these guys have tried to do...Indonesia's a funny place in this regard; formal, stated income means next to nothing.
Wed, 29 Nov 2006
The rich, the poor and the new middle class
Do we really understand what life is like for Indonesians in general, who has how much money and what has become of the middle class since the economic crisis of 1997?This report dwells on how much Indonesians are earning and how that defines the boundaries of each socio-economic strata.
Wed, 29 Nov 2006
TVS motorcycles to enter the showrooms in early 2007
TVS Motor Company, India's third largest motorcycle manufacturer, which has just built a plant here, is set to start selling its bikes on the Indonesian market in early 2007."Initial production at our current plant will start in December," TVS president director B.L.P.
Wed, 29 Nov 2006
BRI sets aside Rp 4 trilion for agricultural sector, biofuel l
Urip Hudiono, The Jakarta Post, JakartaState-owned Bank Rakyat Indonesia (BRI) says it is ready to extend up to Rp 4 trillion (US$439 million) in loans to the agricultural sector, including for the development of biofuel plantations across the country.
Wed, 29 Nov 2006
Four foreign banks eye local lenders
The central bank's efforts to shape up Indonesia's banking sector seem to be bearing fruit, with the announcement of the industry's latest series of merger and acquisition plans.Four foreign banks have expressed an interest in acquiring small-sized lenders here, Bank Indonesia Deputy Governor Siti...
Wed, 29 Nov 2006
Local companies look overseas for justice
Despite efforts to improve legal certainty under President Susilo Bambang Yudhoyono's administration, investor trust in the Indonesian legal system remains low.Asrul Sani of the Indonesian Corporate Counsel Association (ICCA) said that given the lack of trust in the local courts and arbitration...
Wed, 29 Nov 2006
Malaysian bank to raise finance for Indonesian power station
Kuala Lumpur (ANTARA News) - Malaysian investment bank Affin said Monday it will raise 308 million dollars in financing for the construction of two geothermal power plants on the island of Java in Indonesia.
Wed, 29 Nov 2006
Malaysia's Genting unit discovers oil in Indonesia
Kuala Lumpur (ANTARA News) - Genting Bhd said its subsidiary Genting Oil Natuna Pte Ltd (GONPL) has discovered oil in its two offshore exploration wells in Indonesia, named Ande Ande Lumut 2X-R and Ande Ande Lumut 3X.
Tue, 28 Nov 2006
Former TNI chief might take top Pertamina post
Former Indonesian Military Chief Gen. (ret.) Endriartono Sutarto could be appointed as president of Indonesia’s state-owned oil and gas company PT Pertamina, according to two sources in Jakarta, replacing incumbent President Ari H. Soemarno, who took over the spot in March.
Tue, 28 Nov 2006
Veep orders Pertamina to overcome kerosene supply shortage
Jakarta (ANTARA News) - Vice President Jusuf Kalla ordered state-owned oil company Pertamina here on Monday to immediately overcome its kerosene supply shortage to several parts of the country.The vice president summoned the head of the oil and gas upstream business management board (BPH Migas)...
Tue, 28 Nov 2006
Indonesian cacao exporters facing problem with quality
Medan, North Sumatra (ANTARA News) - National cacao exporters are still facing problem with finding good quality cacao at home amidst increasing demand for good quality cacao in the world market, a cacao exporter said here on Monday.
Tue, 28 Nov 2006
Indonesians Buy Most Apartments in Singapore
TEMPO Interactive, Jakarta: Purchase of apartments in Singapore by Indonesian citizens between 2003 and 2005 continues to rise.In 2003, Indonesians bought as many as 500 apartments in Singapore and in 2004 the number rose to 600.The amount rose again in 2005 to 830 apartments, or an average19.
Tue, 28 Nov 2006
We're very optimistic about the footwear industry here: Adidas
We're very optimistic about the footwear industry here: AdidasUrip Hudiono, The Jakarta Post, JakartaIndonesia's footwear industry appears to be showing signs of recovery, after experiencing a slump since the Asian financial crisis and losing out in competition for export production from other...
Tue, 28 Nov 2006
Japan to pour millions into South Sulawesi development
Japan International Cooperation Agency (JICA), through its community empowerment program (CEP), is preparing a number of development projects valued at US$15 million in South Sulawesi."The South Sulawesi administration and the Japanese government have signed an agreement to carry out development...
Tue, 28 Nov 2006
Essar may invest $500m in Kalimantan
PT Essar Indonesia, a local affiliate of India-based conglomerate Essar Group, will build a pellet factory at a cost of US$500 million on Kalimantan island to strengthen its presence in the country's steel industry, an official says.
Tue, 28 Nov 2006
Lower rate may spur lending growth
With the interest rate's downward trend, Indonesia's major banks will have more room next year to expand their lending, which has been fairly low for the past two years.Banking analysts have estimated that the easing of inflation will allow central bank Bank Indonesia to further lower its key rate...
Tue, 28 Nov 2006
Malaysia's plantations merger to boost country's palm oil
Kuala Lumpur (ANTARA News) - A merger of three Malaysian plantation conglomerates will create the world's largest listed palm oil estate, and boost the country's status as a palm oil producer amid growing regional competition, analysts said.
Sun, 26 Nov 2006
RI, Japan to open markets to each other
Jakarta (ANTARA News) - Indonesia and Japan will open their markets to each other by cutting import duties on 90 percent of their tariff posts after they have signed an Economic Partnership Agreement (EPA), an Indonesian cabinet minister said.
Sun, 26 Nov 2006
Malaysia's plantations merger to boost country
Kuala Lumpur (ANTARA News) - A merger of three Malaysian plantation conglomerates will create the world's largest listed palm oil estate, and boost the country's status as a palm oil producer amid growing regional competition, analysts said.
Sun, 26 Nov 2006
ASEAN leaders to speed up economic integration
Manila (ANTARA News) - Southeast Asian leaders are to advance to 2015 the target date for integrating the region's vast economies into a single European Union-style market, a draft declaration obtained by AFP showed.
Sun, 26 Nov 2006
BI Optimistic on Rupiah's Improvement
That's not good for my business.... the lower the better!
Sat, 25 Nov 2006
ADB to assist Indonesia with US$428 mln for infrastructure
Manila (ANTARA News/Asia Pulse) - The Asian Development Bank will assist Indonesia in implementing vital reforms to develop its infrastructure and boost economic growth.The Manila-based multilateral lender is to help the country improve its policies, laws and institutions to lure large scale...
Sat, 25 Nov 2006
Brokers worried about current unfair competition
Jakarta (ANTARA News) - Property brokers expressed concern over the unfair competition here on Friday and called on the government to immediately improve the situation."We wish the government would immediately issue a certification regulation which applies to property brokers in the country,"...
Sat, 25 Nov 2006
BI Optimistic on Rupiah's Improvement
TEMPO Interactive, Jakarta: Bank Indonesia (BI) is optimistic that the rupiah exchange rate will improve and be stable next year at the level of between 9,000 and 9,200 per US dollar. “The rupiah will be stable at this range.
Sat, 25 Nov 2006
Import Duty of Malaysian Cars Decrease
TEMPO Interactive, Jakarta: The government has decreased import duty of Malaysian automotive products. The duty of a completely built up (CBU) car is decreased from 20 percent to five percent. However, the government did not decrease completely knock-down (KCD) car. It remains 0 percent.
Sat, 25 Nov 2006
Blackout to Last a Long Time
TEMPO Interactive, Jakarta: The blackout in the Java and Bali electrical systems which has been happening in shifts possibly will continue due to the explosion of a gas pipe belonging to PT Pertamina under the mud dike on the southern side of Porong-Gempol, Sidoarjo, East Java toll road.
Sat, 25 Nov 2006
ADB moves to help RI's reform program
The Asian Development Bank (ADB) will provide US$428 million in loans to support Indonesia in its efforts to implement the critical reforms needed to develop its infrastructure and spur economic growth.
Sat, 25 Nov 2006
Indonesia earns $110 mln from tea exports
Denpasar, Bali (ANTARA News) - Indonesia`s tea exports earn US$110 million in foreign exchange annually and contribute Rp1.2 trillion to the gross domestic product (GDP)."Indonesia is the world's fifth biggest exporting country of tea.
Sat, 25 Nov 2006
BRR Preparing foreign investment in Aceh
they're dreaming. nobody is going to seriously invest in Aceh until the problems there are well and truly sorted out, in particular large capital projects.
Sat, 25 Nov 2006
BRR Preparing foreign investment in Aceh
Are they going to eliminate the practise of Sharia law first? I mean Aceh is hardly Oil Rich Saudi where it is possible to put up with Sharia Law due to the high returns....
Sat, 25 Nov 2006
End-of-Year Inflation May Be Under 6 Percent
TEMPO Interactive, Jakarta: Bank Indonesia (BI) has estimated that the inflation rate by the end of the year will be under six percent, which is better than the target of seven plus minus one percent.“It can be under six percent if inflation in November and December of this year follows the...
Sat, 25 Nov 2006
BRR Preparing foreign investment in Aceh
Banda Aceh, NAD (ANTARA News) - The Aceh-Nias Rehabilitation and Reconstruction Agency (BRR) has started preparing an Investor Outreach Office (IOO) in a bid to facilitate foreign investors to come to Aceh, a spokesman said.
Fri, 24 Nov 2006
Macquarie to finance Indonesian toll road project
ho hum, you say. aussie bank invests in indonesian toll roads. but wait: the very same day, they announce a major move into a gambling cash cow in Europe ... which means, of course, that indoensian toll roads will be at least partly financed from the proceeds of gambling!!will this mean that these...
Fri, 24 Nov 2006
Economy to grow at least 6% in 2007, say ANZ, StanChart
The economy is expected to expand by 6 percent next year on the back of continued strong consumption and exports of selected commodities, economists say.Rising domestic demand will keep consumption robust, backed by declining inflation and interest rates -- the main ingredients for spurring...