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Sun, 14 Mar 2010
Indonesia upgraded on signs of growth
Standard & Poor's raised Indonesia's credit rating yesterday amid signs that south-east Asia's largest economy is on track for strong growth in spite of political infighting.Indonesia's economy and currency were among the best performing in the world in 2009.
Sat, 13 Mar 2010
S&P raises RI`s rating to BB
Jakarta (ANTARA News) - International rating agency Standard and Poor`s (S&P) has raised Indonesia`s long-term foreign currency rating to BB from BB- and affirmed its long-term local currency rating at BB+.
Sat, 13 Mar 2010
Over one-third of RI exports to China using FTA facility
Jakarta (ANTARA News) - Thirty percent of Indonesian exports to China are carried out using a tariff reduction facility provided in the Asean-China Free Trade Agreement, Deputy Trade Minister Mahendra Siregar said.
Sat, 13 Mar 2010
Indonesia Tells Bukit Asam to Ditch Partner In Sumatra Railway Unless Project Starts
The Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to help it build the proposed $1.06 billion coal-transportation railway in Sumatra unless its existing joint venture starts work by April.
Sat, 13 Mar 2010
Bank Indonesia Grows More Optimistic on the Economy
The central bank on Friday lifted its growth forecasts for this year and next on the back of strong domestic demand and the accelerating global economic recovery.“Current developments are better than we had expected, as the United States recovers and also the other Asian countries improve.
Sat, 13 Mar 2010
Furniture exports see recovery as orders start rising
Careful display: A stand at the 3rd International Furniture and Craft Fair Indonesia at the Jakarta International Expo in Kemayoran, Central Jakarta, on Thursday. Participants from European and Middle East countries as well as Hong Kong, South Korea and the US are taking part in the exhibition...
Sat, 13 Mar 2010
PLN geothermal projects to be transferred to private firms
About six geothermal power plant projects, which were supposed to be built by PT PLN under the second 10,000 megawatts (MW) electricity crash program, will be transferred to private power producers (IPPs) as the state power company faces difficulties in securing financing for the projects, an...
Sat, 13 Mar 2010
Indonesia, Malaysia promote new approach to CPO exports
Indonesia and Malaysia - the world’s two largest crude palm oil (CPO) producers - seek to jointly professionalize dispute management on environmental issues and public relations to counter EU negative campaigns.
Fri, 12 Mar 2010
Experts Cast Doubt on Indonesia’s Targets for Geothermal Power
:soundoftheothershoedropping:
Fri, 12 Mar 2010
Govt may grant duty-free facility to four other industries
Jakarta (ANTARA News) - The government is looking into the possibility of granting government-borne import duties to four other industries.The industries were in the film, fishery, mining and transportation sectors, Head of the Fiscal Policy Board at the Finance Ministry Anggito Abimanyu said here...
Fri, 12 Mar 2010
No free trade agreement with Indonesia for now
The South-East Asian country has expressed its inability to resolve domestic opposition to the trade pactNew Delhi: A proposed bilateral trade agreement between India and Indonesia has been put in cold storage as the Southeast Asian nation expressed its inability to resolve domestic opposition to...
Fri, 12 Mar 2010
Banks’ Plans Reveal Bullish Outlooks on Indonesian Economy, Lending Growth in 2010
In a reflection of growing optimism about the economy, domestic lenders are targeting an average increase in 2010 loan growth of 24 percent, higher than the central bank’s forecast of 17 percent to 20 percent.
Fri, 12 Mar 2010
Higher Power Bills Called a Threat to Indonesian Industries
Business groups on Thursday came out against the government’s plan to raise electricity rates by an average of 15 percent, arguing that the increase would hurt manufacturers as they try to cope with the recently implemented Asean-China Free Trade Agreement.
Fri, 12 Mar 2010
Experts Cast Doubt on Indonesia’s Targets for Geothermal Power
As Indonesia prepares to host an international conference on geothermal energy next month, experts are questioning whether the government will be able to meet its ambitious target to boost the amount of electricity generated from geothermal sources.
Fri, 12 Mar 2010
Chinese construction firms looking for Indonesian partners
Over 60 major Chinese firms will seek out potential Indonesian partners in the field of construction and mining through a four-day exhibition in Jakarta at the end of May.Vice chairman of China Council for the Promotion of International Trade (CCPIT) Zhang Xiaolin told reporters on Wednesday that...
Fri, 12 Mar 2010
DHL opens direct flight on S’pore, Balikpapan route
BALIKPAPAN: DHL Express has launched a direct flight from Singapore to Balikpapan to meet the surge in cargo transportation from the city state to East Kalimantan, a company executive said.Ahmad Mohamad, the senior technical advisor PT Birotika Semesta/DHL, said in Balikpapan on Wednesday that the...
Fri, 12 Mar 2010
Oil and Gas Investment Target Increased
TEMPO Interactive, Jakarta:The government is targeting investment in the oil and gas industry this year to increase US$ 15.98 trillion to reach a production target of 965,000 barrels per day.The Financial Note and draft 2010 State Budget, which have been proposed by the government to the House of...
Thu, 11 Mar 2010
Indonesia Hopes To Attract $12 Billion In Geothermal Investments
JAKARTA -(Dow Jones)- Indonesia hopes to attract as much as $12 billion in investments in its massive geothermal resources during an event in Bali next month, a government official said Thursday.Bambang Setiawan, Director General of Mineral Resources, Coal, and Geothermal at the Ministry of Energy...
Thu, 11 Mar 2010
Indonesia Wants Australian Firms to Tap Energy-Rich Provinces
March 11 (Bloomberg) -- Indonesian President Bambang Susilo Yudhoyono said expanding trade links with Australia is an opportunity for companies to invest in his country’s energy-rich eastern region.Yudhoyono, speaking to business leaders in Sydney today on the final day of his three-day visit to...
Thu, 11 Mar 2010
Indonesia Gives its Miners More Cash to Spend
The government said on Wednesday that it would only demand dividends of about 35 percent from the three state-owned mining companies this year to give the firms more money to invest in their businesses.
Thu, 11 Mar 2010
SBY says Indonesia open for business
Indonesia's president has finished his three-day trip to Australia with a sales pitch calling on Australian businesses to invest in Indonesia.In the last formal engagement of his trip, Susilo Bambang Yudhoyono addressed a hand-picked gathering of business leaders and dignitaries in Sydney.
Thu, 11 Mar 2010
PLN geothermal projects to be transferred to private firms
About six geothermal power plant projects, which were supposed to be built by PT PLN under the second 10,000 megawatts (MW) electricity crash program, will be transferred to private power producers (IPPs) as the state power company faces difficulties in securing financing for the projects, an...
Thu, 11 Mar 2010
New Bureaucratic Reforms
TEMPO Interactive, Jakarta:The government will give priority to create conditions that will prevent people from carrying out corruption. This is intended as a preemptive move towards bureaucratic reforms, said State Minister for Administrative Reforms E.E.
Thu, 11 Mar 2010
Q1 economic growth expected to reach over 5 pct
Jakarta (ANTARA News) - Finance Minister Sri Mulyani Indrawati said the country`s economic growth in the first quarter of this year was believed to reach over five percent."We have a growth estimate but in the first quarter it could reach over five percent," the minister said at the...
Wed, 10 Mar 2010
Govt to issue presidential regulation on extractive industries
Pekanbaru, Riau (ANTARA News) - The government will immediately issue a presidential regulation on extractive industries in an effort to make the management of oil profit-sharing funds more transparent.
Wed, 10 Mar 2010
Govt forms new bureaucratic reforms team
The government will form a special team overseeing bureaucratic reforms that will be answerable to the Vice President.Vice President Boediono will schedule the first meeting today (Wednesday) with Cabinet ministers or their representatives, his spokesman, Yopie Hidayat, said Tuesday.
Wed, 10 Mar 2010
Turkey Interested in Indonesian Products
TEMPO Interactive, Jakarta:Turkish entrepreneurs who are members of the Turkey-England Business Association have expressed their interest in Indonesian products, like furniture, textiles, food, umbrellas and shoes.
Wed, 10 Mar 2010
UBS Gather Hundreds of Foreign and Indonesian Investors
TEMPO Interactive, Jakarta:UBS Securities Indonesia, a securities company, intends to gather together foreign investors with Indonesia’s leading investors recorded at the Indonesia Stock Exchange for the UBS Indonesia Conference this week.
Wed, 10 Mar 2010
More Opportunities for South Sulawesi Exports
TEMPO Interactive, Makassar:There are more opportunities for South Sulawesi premium commodities to penetrate the international market.The Department of Trade has invited 25 trade attachés to discuss the export potential of five premium commodities of the region, namely rice, corn, cacao, seaweed...
Tue, 09 Mar 2010
BI: Q1 growth to exceed 5 pct
Jakarta (ANTARA News) - Bank Indonesia (the central bank/BI) said on Monday the domestic economy may grow above 5 percent in the first quarter of 2010."The economic growth may exceed 5 percent. We will calculate it precisely later on.
Tue, 09 Mar 2010
Yudhoyono to Discuss Trade Accord in Australia Visit
March 9 (Bloomberg) -- Indonesian President Susilo Bambang Yudhoyono begins a visit to Australia today to discuss a regional trade pact and cooperation in combating people smuggling and terrorism with Prime Minister Kevin Rudd.
Tue, 09 Mar 2010
Crude’s Surge Buoys Palm Oil Prices
Palm oil rose as crude oil gained to above $82 a barrel, raising the appeal of the commodity as a feedstock for biodiesel and as Indonesia and Malaysia, the top producers, agreed to tackle environmental and labor issues.May-delivery contract advanced as much as 1.
Tue, 09 Mar 2010
Indonesia’s Image as Corrupt Worsens
Indonesia has overtaken Cambodia as the most corrupt country in the Asia-Pacific region in the eyes of business executives, according to an annual survey by Political & Economic Risk Consultancy, a Hong Kong-based risk analysis firm.
Tue, 09 Mar 2010
Indonesian firm sues Billabong for $58m
From AAPBillabong being sued by Indonesian distributorSurfwear brand Billabong International is being sued by its former Indonesian licensee, CV Bali Balance, over the termination of its distribution licence in Indonesia.
Tue, 09 Mar 2010
RI, Malaysia promote new approach to CPO exports
Indonesia and Malaysia - the world’s two largest crude palm oil (CPO) producers - seek to jointly professionalize dispute management on environmental issues and public relations to counter EU negative campaigns.
Tue, 09 Mar 2010
Govt to spur budget funds spending to boost growth
Jakarta (ANTARA News) - The government will spur the spending of state budget funds to boost economic growth, Sjahrial Loetan, the secretary of the state minister for national development planning, said here on Monday.
Tue, 09 Mar 2010
Govt`s oil production target unrealistic : observer
Jakarta (ANTARA News) - Oil observer Pri Agung Rakhmanto said that the government`s oil production target of 965,000 barrels per day (bpd) in the 2010 was unrealistic and needed revision."The target is too ambitious and is baseless," he said here on Monday.
Tue, 09 Mar 2010
Foreign Investment Expected to Increase
TEMPO Interactive, Jakarta:The government is targeting an increase in direct foreign investment.According to The Investment Coordinating Board (BKPM) chairman Gita Wirjawan, Indonesia has only been able to attract 0.17 percent of total foreign investment in the world.
Tue, 09 Mar 2010
SASOL Investment Soon to be Realized
TEMPO Interactive, Cipanas: The Investment Coordination Board’s (BKPM) deputy chief for planning, Luky Eko Wuryanto, said the coal liquefaction project worth US$ 10 billion with South Africa Synthetic Oil Ltd (SASOL) is in the realization phase.
Tue, 09 Mar 2010
Indonesian firm sues Billabong for $58m
Surf wear company Billabong says it is facing a civil claim from its former Indonesian licensee, which is seeking compensation over the termination of its distribution licence in that country.CV Bali Balance is asking for more than $58 million in compensation for losses it says it suffered from the...
Mon, 08 Mar 2010
HK’s Dairy Farm to Open Hypermarkets in Indonesia
Dairy Farm International Holdings, Hong Kong’s second-biggest retailer, will increase spending on hypermarkets in Southeast Asia and its health and beauty chain in China.Capital spending may rise about 4 percent to at least $300 million as the company builds hypermarkets in Indonesia, Malaysia...
Mon, 08 Mar 2010
Singapore Manufacturers Keen to Expand in Indonesia
With Singapore’s economy expected to rebound this year, manufacturers there are gearing up to invest more in Indonesia to capitalize on the archipelago’s large labor pool and robust growth, the head of the Singapore Manufacturers’ Federation said on Friday.
Mon, 08 Mar 2010
Indonesia and Malaysia Team Up Against Palm Oil Critics
Indonesia and Malaysian palm oil producers have agreed to jointly tackle challenging environmental and labor issues which threaten to hinder the development of the industry in both countries.Producers have lately come under attack on a number of fronts.
Mon, 08 Mar 2010
Indonesian Developer Bakrieland Still Hopes to Salvage Dubai Deal
PT Bakrieland Development said on Friday that it had granted investor Limitless Holdings, a unit of debt-laden Dubai World, an extension on the expired $110 million Rasuna Epicentrum deal to the end of the month.
Mon, 08 Mar 2010
Indonesian Electricity Provider Comes Clean About Rate Hike
In a move likely to enrage lawmakers and the Ministry of Energy, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it had resumed charging wealthy customers higher power rates because it needed an additional Rp 2 trillion ($216 million) in revenue to maintain operations.
Mon, 08 Mar 2010
Demand for cars in Indonesia increasing
Jakarta (ANTARA News) - In Indonesia, the demand for cars has continued to increase over the past two months and it is expected to increase with a sales projection of 55,000 - 60,000 units this month, a businessman said."The domestic car market continues to improve.
Mon, 08 Mar 2010
Some 493 thousand foreign tourists visit Indonesia in January
Jakarta (ANTARA News) - The number of foreign tourists arrivals in Indonesia increased 4.20 percent to 493 thousand in January 2010 from 473.2 thousand in the same period a year earlier, according to the Central Bureau of Statistics (BPS).
Mon, 08 Mar 2010
An expanded argument for FDI
meanwhile, back in the real world, Gita "Propellor Head" Wirjawan continues to be oblivious to the complete breakdown of systems within the office he heads (BKPM). the latest farce: due to ill-thought out changes he made to the investment permit system in January, the Manpower Dept is now...
Mon, 08 Mar 2010
An expanded argument for FDI
It’s a well known fact by now that, in order to achieve the growth it seeks, the current administration has set a target of Rp. 2,000 trillion per year in investment. Around 55 percent of this sum is expected to come from private capital, while the balance is expected to come from household...
Sun, 07 Mar 2010
Singapore investors eying 10 RI business sectors : chamber
Jakarta (ANTARA News) - Twenty-two Singaporean investors have expressed readiness to invest up to Rp1 trillion in Indonesia this year, the Indonesian Chamber of Commerce and Industry (Kadin) said."The Singaporean investors mostly want to invest in the small- and medium-scale manufacturing...