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Fri, 29 Feb 2008
The fuel subsidy trap
Editorial, The Jakarta PostThe government is risking piling big mistakes on top of huge errors, all at the expense of the basic foundation of the economy, by stubbornly refusing to bring domestic fuel prices closer to international market levels.
Fri, 29 Feb 2008
Priok port access badly damaged
Aditya Suharmoko and Novia D.Rulistia The flow of goods to and from Tanjung Priok port has been further disrupted due to worsening road conditions and a scarcity of trailers, Director General of Customs and Excise Anwar Suprijadi said Thursday.
Fri, 29 Feb 2008
Investment in mining likely to remain low
New investment in the mining sector is likely to grow at a slow pace this year as investors wait for the enactment of a new mining bill being deliberated at the House of Representatives.The Energy and Mineral Resources Ministry's director general of coal, mineral and geothermal Simon Sembiring said...
Fri, 29 Feb 2008
Chamber to aid bio-ethanol supply
The Indonesian Chamber of Commerce and Industry launched a "cassava unit" on Thursday to prop up the country's cassava production in response to a growing demand for bio-ethanol supply.The unit, an official of the chamber said, should increase cassava production from current 10 tons per hectare to...
Fri, 29 Feb 2008
Manpower authorities to send 500 RI workers to Australia
government body in charge of recruitment ..... that should be fun when the Australians get the first load delivered. destined to fail!
Fri, 29 Feb 2008
Container crane to arrive in Tanjung Priok soon
Surabaya (ANTARA News) - A giant Container Crane (CC) worth 5.5 million US dollars ordered by PT Terminal Petikemas Surabaya (TPS) from Argentine, has left Batam Port for Surabaya`s Tanjung Perak port."The giant CC left Batam yesterday (Feb 27), and scheduled to arrive in Tanjung Perak on March 8,"...
Fri, 29 Feb 2008
Manpower authorities to send 500 RI workers to Australia
Brisbane (ANTARA News) - Indonesian manpower authorities plan to send up to 500 skilled and semi-skilled workers to Australia this year to be employed in the construction, mining, nursing, education and fruit plantation sectors, an Indonesian consulate official said.
Thu, 28 Feb 2008
Eighty pct of foreign tourists coming to RI `repeat` visitors
I want my medal for tourist visits to Indo that I was promised, and KuKu, did you get my KITAS application for the post of Father Christmas sorted out or is it still at DEPNAKER?
Thu, 28 Feb 2008
Eighty pct of foreign tourists coming to RI `repeat` visitors
Blokes and blokesses doing visa runs more like."Indonesia earned US$5.3 billion in foreign exchange from the 5.5 million foreign tourists, the highest figure reached in the past 10 years."It would be interesting to know how much they have actually lost. The figures have been static for a decade.
Thu, 28 Feb 2008
Eighty pct of foreign tourists coming to RI `repeat` visitors
Jakarta (ANTARA News) - The culture and tourism ministry estimates that around 80 percent or 4.4 million of the 5.51 million foreign tourists who came to Indonesia in 2007 were 'repeat' visitors.Based on these data it was concluded that most of the tourists coming to Indonesia were "loyal" ones or...
Thu, 28 Feb 2008
Leave halal labeling to market: Producers
Amid controversy over a plan to make halal labeling mandatory, food producers said Wednesday the issue of halal labeling should be left to the market to decide.Sarni Ratu, a marketing manager at a fish processing company in North Jakarta, said producers would voluntarily seek halal certificates as...
Thu, 28 Feb 2008
Wood industry in Riau on brink of collapse
The wood processing industry in Riau, including sawmills and molding firms, is on the brink of collapse due to a scarcity of raw material supplies, said the head of Riau's Indonesian Wood Community (MPI), Hotman Butar-Butar.
Thu, 28 Feb 2008
Lippo boosts lending by 51% in 2007, pushing up net profit
Bank Lippo, a publicly listed bank controlled by Malaysia-based giant Khazanah Nasional Berhad, reported a 51 percent growth in lending in 2007 from the previous year."This is the third consecutive year that Lippo's lending has grown in excess of 50 percent.
Thu, 28 Feb 2008
Industrial machinery fair planned for May in Jakarta
Indonesia will hold the seventh industrial machinery fair in May, with around 250 local and foreign machinery producers set to participate.The annual fair will feature industrial machinery ranging from packaging and food processing machines to pharmacy and printing machines.
Thu, 28 Feb 2008
RI-Germany eye cooperation around renewable energy sources
Indonesia and Germany said Wednesday they want to work together in the energy sector to generate renewable, cleaner sources of energy, in efforts to curtail climate change.Germany's foreign minister and Vice-Chancellor Frank-Walter Steinmeier is on a three-day visit to build relations with...
Thu, 28 Feb 2008
'Efforts have been made to help prevent credit card fraud'
JAKARTA (JP): The country's credit card association said Wednesday a recent case of fraud involving thousands of counterfeit cards caused fewer losses to customers than originally thought.Earlier this month, police confiscated about 7,000 counterfeit credit cards that used stolen data.
Thu, 28 Feb 2008
Majority of Banks Not Yet Meet Good Corporate Governance Provisions
Wednesday, 27 February, 2008 | 18:04 WIBTEMPO Interactive, Jakarta: The majority of national banks have not yet met the provisions of good corporate governance (GCG).Bank Indonesia's evaluation result showed that around 69.3 percent of banks operating in Indonesia have not met GCG provisions.
Thu, 28 Feb 2008
Panasonic to expand plasm TV technology in Indonesia
Osaka (ANTARA News) - Panasonic Gobel Indonesia (PGI) President Commissioner Rahmat Gobel said his company would continue to expand flat-screen TV technology in an effort to create awareness of the importance of efficient and environment-friendly technology in Indonesia.
Thu, 28 Feb 2008
Indonesia`s economy to grow over 7 pct in 2010, minister says
Jakarta (ANTARA News) - Indonesia`s economic growth rate is expected to reach a pre-crisis level of over 7 percent in 2010, a senior economic minister said."In 2010, we expect the gross domestic product (GDP) will be the same as the pre-crisis level.
Thu, 28 Feb 2008
Incentives sought for biodiesel producers
JAKARTA (JP): A committee has asked the government for a tax cut for biodiesel producers to help encourage the eco-friendly fuel business amid high prices of palm oil.Evita H. Legowo, the first secretary of the National Biofuel Development Committee, told The Jakarta Post on Wednesday the proposed...
Thu, 28 Feb 2008
Incentives sought for biodiesel producers
JAKARTA (JP): A committee has asked the government for a tax cut for biodiesel producers to help encourage the eco-friendly fuel business amid high prices of palm oil.Evita H. Legowo, the first secretary of the National Biofuel Development Committee, told The Jakarta Post on Wednesday the proposed...
Wed, 27 Feb 2008
Government to speed up formation of geothermal company
Jakarta (ANTARA News) - The State Ministry of State Enterprises (BUMN) is to speed up the formation of a new geothermal mining company to explore and exploit geothermal potentials in the country, a spokesman said.
Wed, 27 Feb 2008
Government raises CPO benchmark export price by $44 per ton
Jakarta (ANTARA News) - The Indonesian government has raised the crude palm oil (CPO) benchmark export price for March 2008 shipments by US$44 from US$944 to US$988 per metric ton , a spokesman said.Director for agriculture and forestry product export affairs at the Trade Ministry, Erfandi...
Wed, 27 Feb 2008
Competition and consumers' fates
KPPU the Indonesian anti monopoly commission made big news last year for its findings in respect of alleged anti competitive behavior in the telecommunication industry. It seems again there are games going on at "the top end of town" and these have been covered exhaustively.
Wed, 27 Feb 2008
Bad roads slow Indonesian growth, hurt competitiveness
The state of land transportation is not only poor but seems to be getting worse, a seminar revealed, citing a global survey that put Indonesia's ranking in a worse position this year than last year.Bambang Susantono, deputy to the coordinating minister for the economy for infrastructure and...
Wed, 27 Feb 2008
Government approves proposal to exempt electronics from luxury sales tax
with all the smuggling that goes on with electronic items in indonesia, i'd be surprised if any tax on those items you bought ended up in govt coffers.
Wed, 27 Feb 2008
Government approves proposal to exempt electronics from luxury sales tax
Jakarta (ANTARA News) - The Indonesian government has approved the tariff team`s proposal to exempt electronic products from luxury sales tax (PPnBM), the team`s chief said."We have just discussed (the proposal to exempt) electronic products from PPnBM with the Finance Ministry.
Wed, 27 Feb 2008
We need healthy food, not halal labels
The bill on halal product assurance, being drawn up by the government, is expected to become the center of controversy in the country when deliberated in the House of Representatives.The most contentious issue in the debate is the Indonesian Ulema Council's (MUI) demand for halal certification to...
Tue, 26 Feb 2008
Low-cost housing development to increase up to 30 percent
The Jakarta Post, JakartaA real estate association said Monday it would aim for a 25 to 30 percent increase in the development of houses for low-income people throughout the country in 2008."We will continue to develop more subsidized houses for low-income people, particularly in Greater Jakarta,...
Tue, 26 Feb 2008
Indonesia Strengthens Position in Palm Oil Excellence
Indonesia Strengthens Position in Palm Oil ExcellenceTuesday, 26 February, 2008 | 19:06 WIBTEMPO Interactive, Jakarta: Indonesia will strengthen its position as the country of excellence in the world's palm oil industry by holding the World Palm Oil Summit and Exhibition (WPOSE) on 20-24 May, 2008...
Tue, 26 Feb 2008
Indonesia`s IAA to start US$14 bln refinery project in 2009
Jakarta (ANTARA News/Asia Pulse) - PT Intanjaya Agromegah Abadi (IAA) said it will start construction of a US$14 billion oil refinery project in 2009.The company plans to build two refineries each with a processing capacity of 300,000 barrels of crude oil per day in Pare-Pare and Batam.
Tue, 26 Feb 2008
Too much of a good thing will be disastrous for the retail sector
The runaway development of shopping malls in Jakarta is living proof of reckless greed, a monumental disaster in the offing. It is a good example of how poor information, bad planning and a lack of common sense is already hurting, and will continue to hurt, investors and workers alike.
Tue, 26 Feb 2008
Japan biggest E Asian contributor to Lampung`s forex earnings
Bandarlampung (ANTARA News) - Japan was the biggest East Asian contributor to Lampung province`s foreign exchange earnings in 2007, a local trade and industry official said here on Monday.In the January - December period in 2007, Lampung exported 2,390,786 tons of non-oil/non-gas commodities worth...
Tue, 26 Feb 2008
Manulife insurance premiums grow by 88%
Life insurance company PT Manulife Indonesia announced Wednesday (20/2/08) its total insurance premiums grew by 88% last year to Rp767 billion from Rp 419 billion in 2006, The Jakarta Post reported. The growth was remarkable, president director David Beynon said, considering the industry as a whole...
Tue, 26 Feb 2008
Govt. allocates $64.7M for coastal area development
The ministry of marine and fisheries has allocated funds amounting to Rp594 billion ($64.7 million) for development programs in small islands and coastal areas in 2008, a spokesman said, Asia Pulse reported Monday (18/2/08).
Tue, 26 Feb 2008
Foreign cargo operators asked to work with local partners
The transport ministry suggests foreign air cargo carriers should cooperate with Indonesian counterparts if they want to provide cargo transport to Indonesian cities, Asia Pulse reported Monday (18/2/08). Local cargo carriers should have a share of at least 30%, Air Transport Director Tri S.
Tue, 26 Feb 2008
Kajima to step up urban development business
Kajima Corp. plans to expand its urban development project in Jakarta, starting with the construction of a large office building, Nikkei reported Tuesday (19/2/08). The general contractor completed a large office building on Monday, and already plans to begin constructing a similar-sized office...
Tue, 26 Feb 2008
Jakarta plans $393M rail link to airport
Jakarta plans to build a Rp3.6 trillion ($393 million) railway system linking Soekarno-Hatta Airport in Banten province with the capital to cope with growing passenger traffic, the Straits Times reported Monday (18/2/08). Targeted to be ready next year, the railway will stretch along 33.
Tue, 26 Feb 2008
Indosat goes all-out to expand network
JAKARTA (JP): The country's second-largest telecom company, PTIndosat, is to issue bonds worth a total of Rp 1.5 trillion(around US$163 million) to support its expansion drive.The company is also seeking another $400 million in externalfunding in the form of bank loans or global bonds.
Tue, 26 Feb 2008
Electricity Crisis to Last Until 2009
TEMPO Interactive, JakartaMonday, 25 February, 2008 | 15:06 WIBPT PLN (the State Electricity Company) is predicting that Indonesia will experience an electricity crisis up until next year.The state-owned company, according to Muljo Adji, PLN's Manager of Load and Distribution Center, is currently...
Mon, 25 Feb 2008
Governments must promote earning of livelihoods
Whether or not the retail operations of large corporations will have a negative impact on small traders is a debatable point. However, it is beyond debate that the most significant threats to small traders come from government obstruction, corrupt public officials, and poor infrastructure.
Mon, 25 Feb 2008
Gates Seeks Closer Ties With Indonesia
JAKARTA, Indonesia (Map, News) - The United States is working to broaden its ties with Indonesia as the island nation emerges as a leader in the Asia-Pacific region, U.S. officials said Monday as Defense Secretary Robert Gates arrived here.
Mon, 25 Feb 2008
Singapore`s Temasek Holdings may sell BII stake - report
Singapore (ANTARA News) - Singapore's Temasek Holdings Pte Ltd may decide to sell its stake in Bank International Indonesia (BII), Indonesia's sixth-largest bank, instead of merging it with PT Bank Danamon Indonesia, the Asian Wall Street Journal reported Monday, citing unnamed sources.
Mon, 25 Feb 2008
Jakarta to provide US$2.2 bln for railway infrastructure
Jakarta (ANTARA News/Asia Pulse) - The Indonesian government plans to provide Rp20 trillion (US$2.2 billion) to build infrastructure for railway mass transport under the state-owned railway company PT Kereta Api in the next four years.
Mon, 25 Feb 2008
The informal sector: Jakarta's survival strategy
What a BS. Paying Rp10.000 for lunch from street vendor can cost you Rp10M in expenses following costly treatment of Typhoid. Beside, these people don't pay taxes thus, they are no benefit to the Indonesian economy, just a cost because they use and abuse all the facilities.
Mon, 25 Feb 2008
Tax office aims to boost number of taxpayers
JAKARTA (JP): Indonesia has huge untapped tax potential with lessthan 3 percent of the nation's 220 million people in possessionof tax identification numbers (NPWP), a tax office official saidover the weekend.
Mon, 25 Feb 2008
Lampung imports pedigree cows worth US$116.5 million
Bandarlampung (ANTARA News) - Lampung imported pedigree cows worth US$116.5 million from Australia in 2007 in an effort to increase its cow population, an industry official said.Lampung Industry Service Head Suparmo said here on Saturday, with US$116.
Mon, 25 Feb 2008
Govt allocates Rp7.2 trillion for sugar mill revitalization
Yogyakarta (ANTARA News) - The government has allocated Rp7.2 trillion to revitalize around 52 sugar mills across Indonesia, Indonesian Sugar Experts Association (IAGI) chairman Bambang Prijono Basoeki said here on Saturday.
Sat, 23 Feb 2008
HSBC readies $250m in personal loans
Agustina Wayansari, The Jakarta Post, JakartaWith the retail banking potential still relatively untapped here, HSBC Indonesia says it will stay focused on developing its retail division."We target to disburse around US$250 million in personal loans this year, more than triple last year's total of...
Sat, 23 Feb 2008
Lippo Cikarang plans to boost revenue growth by more than 40%
PT Lippo Cikarang, a publicly listed property developer that manages 3,000 hectares of land in Cikarang, West Java, plans to gradually construct and sell around 800 new houses and several industrial clusters this year to boost its revenue.