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Fri, 12 Feb 2010
Sriboga threatens to relocate to Australia
Flour producer PT Sriboga Raturaya has threatened the government that it may relocate to Australia because of a prolonged decision to impose punitive tariffs on Turkey flour despite the completion of dumping investigations.
Fri, 12 Feb 2010
Indonesia’s old guard stalls Yudhoyono’s reforms
Susilo Bambang Yudhoyono, the Indonesian leader, should be riding high after victories for himself and his party in last year’s presidential and legislative elections and sustained economic growth through the global financial crisis.
Fri, 12 Feb 2010
‘Bureaucracy’ Behind Indonesian Police Closure ITM Coal Mine in Kalimantan
Indonesian police have temporarily shut down the Jorong coal mine in South Kalimantan, which is owned by PT Indo Tambangraya Megah, the country’s fourth-biggest coal miner, since late last week because it does not have a valid permit.
Fri, 12 Feb 2010
PT Subsea Services Indonesia Open for Business in SE Asia
The parent company of Offshore Joint Services (OJS), Subsea Services International, has formed a new Indonesian subsidiary. The new company, PT Subsea Services Indonesia will house OJS's operations in Indonesia as well as those of other future group companies.
Fri, 12 Feb 2010
Turkey is Potential Export Market
TEMPO Interactive, Jakarta:Aip Syarifudin, the Turkish Indonesian Trade Associations (TITA) co-chairman, said the export potential for Indonesia’s oil and gas as well as non-oil and gas industry to Turkey is open wide.
Fri, 12 Feb 2010
The half-baked policies
The promulgation of government regulations on the security of coal and natural gas supplies for domestic needs was one of the programs on the agenda for the administration’s first 100 days in office - which ended late last month.The program was carried out well.
Fri, 12 Feb 2010
Jamsostek Plans to Give Indonesia ‘Workers Bank’ With New Unit
Social security provider PT Jaminan Sosial Tenaga Kerja said on Thursday that it plans to transform a Shariah unit of PT Bank Bukopin into a bank catering to its 8.4 million members after its acquisition of a majority stake in the bank is completed this year.
Fri, 12 Feb 2010
External Factors Seen as Threats to Indonesia's GDP Growth
External factors still pose a threat to growth despite the country’s robust economic performance through the global downturn, Finance Minister Sri Mulyani Indrawati warned on Thursday.Sri Mulyani said the government had no immediate plans to revise its 5.5 percent growth forecast for this year.
Fri, 12 Feb 2010
Stop-Gap Measure to Provide Indonesia With Electricity
State electricity company PT Perusahaan Listrik Negara will rent hundreds of diesel and oil-powered electricity generators to alleviate power shortages in some outlying provinces.Renting the generators was an “emergency measure” to help quickly resolve the shortages, PLN president director...
Thu, 11 Feb 2010
Indonesia’s GDP beats forecasts
Indonesia on Wednesday announced better than expected figures for 2009 growth in gross domestic product, making it one of the fastest growing economies in the G20 group of nations.Indonesia posted 4.5 per cent annual GDP growth for 2009, down from 6.1 per cent in 2008. Fourth-quarter growth was 5.
Thu, 11 Feb 2010
Turkey offers trade cooperation with Indonesia
Jakarta (ANTARA News) - The Turkish government through its trade representative office in Indonesia, TITA (Turkish Indonesian Trade Association), offered trade cooperation with Indonesia.Indonesia is a country with a strong influence in Southeast Asia while Turkey is a gateway to Europe, TITA...
Thu, 11 Feb 2010
Govt asks businesses to lobby Chinese exporters
The government has asked Indonesian businesses to use persuasive measures to curb the possible influx of cheap Chinese products into the country.Edy Putra Irawady, Deputy Coordinating Economic Minister on industry and trade, said in Jakarta on Wednesday that using persuasive measures might be more...
Thu, 11 Feb 2010
Indonesia forest minister vows land permit crackdown
JAKARTA (Reuters) - Indonesia's forestry minister on Wednesday said he had revoked the land use permits for 23 mining and other firms operating in forested areas and may crack down further, indicating a tougher stance on environmental protection.
Thu, 11 Feb 2010
Licensing problems stall oil, gas projects
The development of at least 16 oil and gas blocks owned by state oil and gas firm Pertamina has been delayed due to the company’s failure to obtain recommendation from the environmental office, a senior official said.
Thu, 11 Feb 2010
Tourist arrivals in Bali up 14 pct
Denpasar (ANTARA News) - More than 2.38 million foreign tourists visited Bali last year, up 14.48 percent from a year earlier, the local statistics office said."In December 2009 alone, the number of foreign tourists visiting the resort island was 222,546, a 26.
Thu, 11 Feb 2010
RI's exports, imports to recover earlier than expected: minister
Jakarta (ANTARA News) - Finance Minister Sri Mulyani Indrawati has predicted Indonesia`s exports and imports as the engine of its economic growth will recover earlier than expected."From the external point of view it seems our exports and imports would recover earlier than expected," she...
Thu, 11 Feb 2010
Japan has potential to invest in Morotai fishery sector
Jakarta (ANTARA News) - Japan appears to be interested in investing in the fishery sector in Morotai regency, North Maluku province, a spokesman said."Its abundant fishery resources makes Morotai to have a high potential for Japanese investment," general chairman of the Indonesian...
Thu, 11 Feb 2010
Private Sector Invests Rp 10 Trillion in Indonesia's Transmigration Program
The controversial transmigration program to relocate the poor from overpopulated regions to less-developed parts of the archipelago has been given an Rp 10.37 trillion ($1.11 billion) infusion, thanks to private businesses seeking a work force in remote areas.
Thu, 11 Feb 2010
Indonesia to Upgrade Ports, Airports in Wake of Trade Deals
The government said on Wednesday it was planning to triple its budget for capital expenditure on state-owned seaports and airports this year to prepare for an expected increase in the flow of goods resulting from free-trade deals with China and India.It said it would spend Rp 10.3 trillion ($1.
Thu, 11 Feb 2010
Indonesia Now On the Global Investment Map, Soros Says
Billionaire investor and philanthropist George Soros praised Indonesia’s economy for successfully weathering the global financial crisis and said the country is now on the global investment radar screen.
Wed, 10 Feb 2010
South Sumatra plans own special economic zone
South Sumatra, which boasts abundant natural resources, plans to develop a special economic zone around the Tanjung Api-api port, with Coordinating Economics Minister Hatta Rajasa making a sales pitch for his own home province.
Wed, 10 Feb 2010
Non-oil/non-gas exports projected to increase 7-8.5 pct
Jakarta (ANTARA News) - The Trade Ministry has projected a 7 percent - 8.5 percent increase in the country`s non-oil/non-gas exports this year after they reached a total value of US$97.5 billion last year.
Wed, 10 Feb 2010
W Kalimantan offers CPO management Coop to Singapore
Pontianak (ANTARA News) - West Kalimantan has offered the Singapore government cooperation in crude palm oil management. "So far CPO from West Kalimantan have to pass Belawan port in Medan (North Sumatra)," the province`s governor, Cornelis, said on the sidelines of a visit by Singapore...
Wed, 10 Feb 2010
Indonesia says it’s ‘managing,’ not banning seaweed exports
Indonesia has denied a plan to ban seaweed exports, saying its growers could meet the demand from Filipino seaweed processors."A total ban is beyond what we intend to happen. What we plan to do is manage exports," Victor Nikijuluw, head of Indonesia's Ministry of Marine Affairs and...
Wed, 10 Feb 2010
Ministry revokes 1,104 import licenses on 2008 regulation
The Trade Ministry has released information saying that it has, as of the end of last year, revoked 1,104 import licenses in line with the enforcement of a 2008 ministerial regulation on imports of particular products.
Wed, 10 Feb 2010
New association aims for independent economy
A number of experts and scholars in economics and politics declared the foundation of the Indonesian Political Economy Association (AEPI) on Tuesday, aiming to help Indonesia move toward an independent economy.
Wed, 10 Feb 2010
Govt considers restricting more products in unregulated ports
The government is considering adding more categories of products, as well as extending existing categories, to a revision of a 2008 Trade Ministry regulation on imports of particular products in a bid to protect the domestic market.
Wed, 10 Feb 2010
Creative industries contribute 7.5 pct to export earnings
Jakarta (ANTARA News) - Trade Minister Mari Elka Pangestu said the contribution of creative industries to Indonesia`s non-oil/non- gas exports reached around 7.5 percent or Rp114.9 trillion."Creative industries contributed around 7.
Wed, 10 Feb 2010
Two foreign investors to develop goldmines in North Halmahera
Ternate (ANTARA News) - Investors from China and Australia were interested in developing the gold mine in North Halmahera regency, North Maluku.Head of the North Halmahera mining and energy agency Aser Tidore said here Monday that the Chinese investor was interested in developing the goldmine in...
Wed, 10 Feb 2010
N Sulawesi to reject Chinese cement not meeting SNI norms
Manado (ANTARA News) - Cement made in China that does not meet SNI (Indonesian National Stadard) norms will not be allowed to enter North Sulawesi province despite the Asean-China Free Trade agreement (ACFTA), a local trade official said.
Wed, 10 Feb 2010
RI sends letter to China to renegotiate ACFTA
The Indonesian government has sent a letter to China requesting a renegotiation of the ASEAN-China Free Trade Agreement [ACFTA].“Director General for International Trade Gusmardi [Bustami] sent a letter of request to renegotiate with China.
Tue, 09 Feb 2010
Indonesia Plans To Cap Palm Oil Exports By 2015
The government plans to cap crude palm oil exports at 50 percent of output by 2015 and 30 percent by 2020 in a bid to boost the downstream processing sector, Industry Minister MS Hidayat said on Monday.
Tue, 09 Feb 2010
Single Asean market a step closer
An ambitious initiative to allow cross-border trading between several south-east Asian stock exchanges took a significant step towards completion yesterday with a firm commitment to technology for the project.
Tue, 09 Feb 2010
Indonesia’s Economy Probably Expanded at Fastest Pace in a Year
Feb. 9 (Bloomberg) -- Indonesia’s economy probably expanded at the fastest pace in a year in the fourth quarter as lower interest rates and government stimulus spurred consumer spending.Asian economies from China to Vietnam are picking up speed after policy makers boosted spending and cut...
Mon, 08 Feb 2010
Bright future for biodiesel in Indonesia
As Indonesia is today the world’s largest producer of crude palm oil (CPO) - a desirable feedstock for biodiesel production - it has the potential to grow into a world biodiesel leader and a model for plantation sustainability.
Mon, 08 Feb 2010
Investment policies to ‘focus on maximizing value creation’
Senior editor Manggi Habir recently met up with Gita Wirjawan in his new position as head of the Investment Coordinating Board (BKPM) and talked about his strategy and plans going forward.Question: What is your investment strategy when you came into the BKPM?Answer: Let me answer that question by...
Mon, 08 Feb 2010
Bali's Blue Bird of Happiness Threatened with Extinction
From http://www.balidiscovery.com/messages/message.asp?Id=5801Blue Bird Taxi Responds to Illegal Operation ClaimsBlue Bird Insists their Bali Taxi Fleet Operating in Accordance with the Law.(2/7/2010) The Blue Bird Taxi Group has responded vigorously to island officials and legislators who are...
Mon, 08 Feb 2010
Bali Real Estate: Boom or Bust?
Editorial: Changes in Land Ownership Rules Now Under Consideration May Threaten Bali's Culture and Heritage.(2/2/2010) The Indonesian press has been awash with news of a promised change in property laws that, if approved, would allow foreign nationals to lease land for 75 years.
Mon, 08 Feb 2010
GDP Growth in Q4 Expected To Surprise to the Upside
Economists are predicting that fourth-quarter GDP growth will be well above Bank Indonesia’s forecast due to strong domestic consumption and a rebound in exports.A Jakarta Globe survey of economists at six local banks and research institutes found an average forecast of 5.
Mon, 08 Feb 2010
Govt to set up three SEZs for agribusiness
The government is aiming to attract less than Rp 100 trillion (US$10.6 billion) in investment through the development of three special economic zones (SEZs) producing agricultural products this year.The three zones will be located in Medan, North Sumatra, in Dumai, Riau, and in Merauke, Papua, Vice...
Mon, 08 Feb 2010
Brighter prospect for exports
The Central Bureau of Statistics (BPS) recently reported the Indonesian export performance for December 2009. This report defied a lot of expectations since the Indonesian exports in December 2009 reached US$13.33 billion, setting an all-time record.
Mon, 08 Feb 2010
East kalimantan to Launch New Power Plant
TEMPO Interactive, Jakarta: East Kalimantan will launch a new power plant which will reduce electricy deficit in the second largest city in the province, Balikpapan. East Kalimantan Governor Awang Faroek Ishak will officiate the 80 Megawatt diesel power plant in Batakan, Balikpapan, which is part...
Mon, 08 Feb 2010
RI trying to attract more Japanese investors after global crisis
Jakarta (ANTARA News) - Indonesia will in the next five years focus its ties with Japan by raising the flow of Japanese investment to Indonesia in the wake of the global economic crisis, an envoy said.The signing of the Agreement on Strategic Partnership for Peaceful and Prosperous Future in 2006...
Mon, 08 Feb 2010
Govt expects this year`s credit growth to reach 20 pct
Jakarta (ANTARA News) - The government expects the country`s credit growth to reach 20 percent this year to boost investment and exports, a minister said.Speaking to the press here on Friday, Coordinating Minister for Economic Affairs Hatta Rajasa expected all banking credits this year could be...
Sat, 06 Feb 2010
GINSI urges govt to impose import duties on Chinese products
Jakarta (ANTARA News) - The Association of Indonesian Exporters (GINSI) has reminded the government to keep imposing import duties on various Chinese products, although the ASEAN-China Free Trade Area (ACFTA) had taken effects of January 1, 2010.
Sat, 06 Feb 2010
Govt seriously tackling infrastructure problems under ACFTA
Medan, N Sumatra (ANTARA News) - The government is seriously tackling damaged roads and electricity shortages to enable local industries and SMEs to face the implications of the ASEAN-China Free Trade Area (ACFTA), a trade ministry official said.
Sat, 06 Feb 2010
Russian bizmen interested in Indonesia`s mining sector
Jakarta (ANTARA News) - Indonesian Ambassador to Russia Awaluddin Hamid said some Russian investors were interested in investing in Indonesia`s mining sector."Some Russian businessmen are interested in investing in gold and coal mining," Awaluddin said at the Foreign Affairs Ministry here...
Fri, 05 Feb 2010
Govt revokes 715 problematic bylaws
Quoting: biznewsGovt revokes 715 problematic bylawsThe government has revoked at least 715 regional bylaws which were considered to have hindered investment in Indonesia within the first 100 days of President Susilo Bambang Yudhoyono's second-term administration.
Fri, 05 Feb 2010
Indonesian eco-resorts go for wildlife wow factor
JAKARTA, Feb 5 (Reuters Life!) - While on honeymoon in Indonesia, Australian newlyweds Richard and Clair Webb decided to go somewhere truly exotic: not a luxury resort on an idyllic beach, but an eco-friendly lodge surrounded by wild orangutans.
Fri, 05 Feb 2010
Indonesia considers coal export slowdown
JAKARTA, Feb. 4 (UPI) -- Indonesia, the world's third-largest coal exporter, plans to gradually cease its coal exports to save for its future needs, says a government official.The National Energy Board, or DEN, is now putting together such a recommendation to be submitted to the government this...