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Mon, 23 Apr 2007
Modern markets no threat: Survey
Modern retail outlets in the country such as hypermarkets and minimarkets do not pose any threat to wet markets and traditional grocery stores despite their massive expansion during the past two years, a survey shows.
Sat, 21 Apr 2007
Investors want clarification on laws
Both local and foreign investors are seeking clarification from the government on its commitment to providing a more conducive investment climate amid growing demands for the expansion of the business sectors that are closed to foreign investors.
Sat, 21 Apr 2007
Indonesia's banks pushed to lend
JAKARTA - After heavy government lobbying, Indonesia's central bank (BI) has agreed to roll back lending restrictions imposed on the banking sector in the wake of the 1997-98 Asian financial crisis and promote new bank lending targets for small and medium-sized enterprises (SMEs).
Sat, 21 Apr 2007
Investment set to kick in to drive economic growth
With the enactment of the new Investment Law, the central bank says it expects that Indonesia will be able to attract more foreign direct investment (FDI) -- rather than just portfolio investments -- so as to produce higher and more sustainable growth this year.
Sat, 21 Apr 2007
Newmont executive: Investors closely watching Indonesian pollution trial
JAKARTA (AP): An American gold mining executive said Friday investors were closely watching to see if he would be found guilty of dumping dangerous levels of mercury and arsenic-laced waste into an Indonesian bay, sickening villagers.Richard Ness, president director of Newmont Mining Corp.
Sat, 21 Apr 2007
Unemployment Rate Decreases
TEMPO Interactive, Jakarta: The Central Bureau of Statistics (BPS) said that the unemployment rate in 2006 decreased compared to previous years. The drop in unemployment was seen after the BPS surveyed the national work force in February 2007. “The unemployment rate was down.
Sat, 21 Apr 2007
BI Asked to Allow Rupiah's Improvement
TEMPO Interactive, Jakarta: Financial market analyst Reza Wibawa has asked Bank Indonesia (BI) to curb the improvement of the rupiah so that there will not be a sharp sudden increase of rupiah currency.
Sat, 21 Apr 2007
Adhi Karya Insists on Asking Infusion of State Capital
TEMPO Interactive, Jakarta: Despite the previous proposal of state co-financing being rejected, PT Adhi Karya is expecting that it can get state co-financing from the government. This is considered as extra capital for the company.
Sat, 21 Apr 2007
Tax for Industry that Produces Pollution
TEMPO Interactive, Jakarta: The implementation of sanctions over industry that produce pollution will be more effective than a moratorium of new vehicle manufacturing. Industrial pollution, said former Coordinating Minister for the Economy Rizal Ramli, was one the causes of the green-house effect...
Fri, 20 Apr 2007
Telekom Malaysia raises stake in Indonesian cellular unit
KUALA LUMPUR (AP): State-owned Telekom Malaysia said Thursday it would buy a further 7.4 percent stake in its Indonesian cellular unit, PT Excelcomindo Pratama, for US$113 million (euro94 million).Its unit, TM International (L) Ltd., will buy the shares from AIF (Indonesia) Ltd.
Fri, 20 Apr 2007
Govt to speed up steam power plant development
Padang (ANTARA News) - State-owned electricity company PT PLN will speed up the making of five steam power plants from 30-36 months to 23 months, director Eddie Widiono said here Thursday."Therefore, PLN is ready to offer contractors incentive options like in the form of cash bonus," he said after...
Fri, 20 Apr 2007
Bali`s non-oil/non-gas exports to east Europe up
Denpasar, Bali (ANTARA News) - Non-oil/non-gas exports from Bali province to East Europe in 2006 reached a total value of US$ 2.1 million or slightly up compared with US$ 1.9 million in 2005, a provincial trade official said.
Fri, 20 Apr 2007
Indonesia deal will be first for Dublin Port
Dublin Port is closer to agreeing a joint venture with the Indonesian government to build a $900m container terminal in Sabang Port in Aceh.The 50-50 joint venture involves setting up a new company, Sabang Hub International Port, which is likely to be operating within three months.
Fri, 20 Apr 2007
Aceh entrepreneurs make it big after starting from scratch
Nearly 80 percent of commercial losses caused by the 2004 earthquake and tsunami disaster in Aceh were suffered by the private sector, mostly retailers and traders.Many of the surviving entrepreneurs, however, did not wait long before they started taking part in rebuilding a devastated society in...
Fri, 20 Apr 2007
Local lenders living on borrowed time, warns BI
Indonesia's banks may lose out to their regional competitors when the free trade and services agreement among Southeast Asian nations is fully implemented in 2015.Syamsul Arifin of Bank Indonesia's international affairs unit said Thursday that most of the country's banks were still far from being...
Thu, 19 Apr 2007
Aceh province moves to exploit natural-resource potential
Aceh is a province that is blessed by abundant natural resources and wealth that have long lain undeveloped due to a 32-year insurgency that only recently came to an end.Now, in a new era of peace and development after the long years of civil unrest and the 2004 tsunami disaster, the opportunities...
Thu, 19 Apr 2007
Indonesians still prefer wet markets, survey shows
Living the life as a devoted mother/wife and a full-time career woman, 52-year-old Sri Widyawati refuses to be categorized as one of today's modern working moms -- when it comes to shopping, she always prefers to do it the traditional way!"I insist on buying fresh food every day from the itinerant...
Thu, 19 Apr 2007
NGOs to seek court review of Investment Law
A legal aid institution and a number of non-governmental organizations are to challenge the constitutionality of the recently enacted Investment Law, which they claim will prejudice the interests of the people."We will ask the Constitutional Court to review five articles of the neo-liberal Law No.
Thu, 19 Apr 2007
Riau Islands economic zone to be realized soon: Yudhoyono
JAKARTA (JP): The government will speed up the realization of Exclusive Economic Zones in three islands -- Batam, Bintan and Karimun -- in the Riau Islands province, said provincial governor Ismeth Abdullah Tuesday.
Tue, 17 Apr 2007
Customs & Excise Director General Denies Blocking 6,000 Importers
TEMPO Interactive, Jakarta: Director General of Customs and Excises at the Finance Department, Anwar Suprijadi, denies that he has blocked activities and licenses of 6,000 importers who have violated the excise law and haven’t been active for a year.
Tue, 17 Apr 2007
Three state plantation firms to build biodiesel plant
Medan, N Sumatra (ANTARA News) - Three state plantation firms will cooperate in building a biodiesel plant with a capacity of 300,000 tons per year, a spokesman said."The three state firms will begin construction of the joint biodiesel plant in 2008 and the plant is expected to start operating in...
Tue, 17 Apr 2007
PT Wika, Pertamina to set up biodiesel plant in S. Sumatra
Palembang, South Sumatra (ANTARA News) - National corporation PT Wijaya Karya (Wika) and PT Pertamina`s Management Unit (UP)-III Plaju are planning to set up a biodiesel industry in South Sumatra, a spokesperson said.
Tue, 17 Apr 2007
Aceh opens new office to attract investors
The Nangroe Aceh Darussalam provincial government has stepped up its efforts to strengthen the region's fragile economy by launching an "Investor Outreach Office" (IOO) on Monday to attract foreign investors.
Mon, 16 Apr 2007
Medco Eyes Cassava in New Ethanol Plant
Indonesia's largest listed energy firm PT Medco Energi Internasional Tbk will start a 180,000 liter per day ethanol plant later this year, using cassava as a feedstock, a senior official said on Wednesday (11/4/07).
Mon, 16 Apr 2007
PLN Calls for $2bn Power Project Tenders
State-owned electricity company PLN has called for tenders for a $2 billion power transmission project in the Java Bali interconnection, Asia Pulse reported on Wednesday (11/4/07).The project will be financed from the state budget, export credit and foreign loans, PLN Transmission and Distribution...
Mon, 16 Apr 2007
BCA to Extend Up to $1.1b in Loans
Bank Central Asia (BCA) is planning to extend up to Rp10 trillion ($1.1 billion) worth of loans this year, some Rp4 trillion of which would be allocated to corporations, vice president Jahja Setiaatmadja said.
Mon, 16 Apr 2007
Excelcom Users Up 10.5%
Indonesia's third largest mobile phone operator, PT Excelcomindo Pratama, signed on some 1 million new users in the first quarter, a senior company official said on Wednesday (11/4/07).The company, owned by Telekom Malaysia Bhd, is aiming for 4.5 million news users this year to add to its 9.
Mon, 16 Apr 2007
ASEAN to Set up Infrastructure Fund
The 10 member countries of the ASEAN have agreed to set up a special body to raise and manage an infrastructure fund to finance infrastructure projects in the region.The agency is expected to help speed up procurement of funds and mobilize idle funds for infrastructure projects in the ASEAN, head...
Mon, 16 Apr 2007
Q1 Foreign Investment Rises
Foreign direct investment rose to $2.99 billion in the first quarter of 2007 from $2.6 billion in the same period last year, National Investment Coordinating Board (BKPM) chairman Muhammad Lutfi said on Tuesday (10/4/07).Foreign direct investment approvals rose to $14.
Mon, 16 Apr 2007
Excelcomindo gets "AA-" rating
Jakarta (ANTARA News) - Indonesian rating agency Pefindo has assigned an "AA-" rating (stable outlook) to Rp2 trillion worth of bonds publicly-listed cellular phone operator PT Excelcomindo Pratama Tbk plans to issue this year.
Mon, 16 Apr 2007
Tax Base Extended Again
TEMPO Interactive, Jakarta: The Tax Directorate General is to extend the tax base once again.Hasan Rahmany, Director of Tax Intensification and Evaluation, said that this measure was being taken in order to increase the state's revenues.
Mon, 16 Apr 2007
SBY worries over rising demand of imported fruits
Concerned by a rise in the consumption of imported fruit, President Susilo Bambang Yudhoyono has urged Indonesians to purchase locally grown agricultural products.Speaking during a visit to a durian plantation in Sukabumi, West Java, on Sunday, the President also called for integrated efforts to...
Mon, 16 Apr 2007
Banks cut deposit rates to below 7%
Several banks in the country have begun to cut their deposit rates, following a decision by the Deposit Insurance Agency last week to further lower the rate for guaranteed deposits to 9 percent.Banks are still weighing options for trimming their lending rates as well, which is seen as necessary to...
Mon, 16 Apr 2007
Bidding for methane projects delayed
The tender process for the exploration and production of coal bed methane (CBM) gas in Indonesia will be delayed until August following a request from interested bidders asking for more time to set up pilot projects in order to determine the project's economic feasibility, an official said.
Sun, 15 Apr 2007
Banten and Elnusa may build major oil refinery
The Banten provincial government has signed a preliminary agreement with PT Elnusa to build a major oil refinery at an estimated cost of Rp 5 trillion (US$550 million), as well as an oil-storage tank farm, in the province.
Sun, 15 Apr 2007
More gas stations to sell Biopertamax
Facing increasing competition in the retail gasoline sector, state oil and gas firm PT Pertamina plans to increase the number of gas stations selling high-quality biofuel, known as Biopertamax, from 1 at present to 24 by the end of this month.
Sat, 14 Apr 2007
Govt urged to intensify gas explorations to cover deficit
the country's gas-use planners have stuffed up in a monumental way.the government is in the middle of trying to shift the poor from using kerosene to gas, and yet there are still not enough gas cylinders and they aer still stuffing about with the tender to make them.
Sat, 14 Apr 2007
Govt urged to intensify gas explorations to cover deficit
Methinks Fahmi Idris hasn't got a clue about his business. Even if they found the gas today it would take years to pipline it to where it is currently required.Also, I think that gas producers would much prefer the export price rather than what they would get if they sold to the government!
Sat, 14 Apr 2007
The pitfalls of Indonesian coal
JAKARTA - Indonesia's Bumi Resources and India's Tata Power are closing in on a US$1.3 billion deal that promises to give the Indian energy concern a 30% stake in two big Indonesian coal mines, Kaltim Prima Coal (KPC) and Arutmin.
Sat, 14 Apr 2007
Department of Trade Requests Explanation of Blocking Importers
TEMPO Interactive, Jakarta: The Department of Trade asked the Directorate General of Customs and Excise to inform them specifically of the criteria of permission to block importers. In addition, should the block be carried out all at once by the Directorate General without a confirmation from the...
Sat, 14 Apr 2007
BI to limit expat bank workers
The central bank is currently drafting a regulation to restrict the employment of expatriate labor in the banking sector amid recent concerns in some circles about perceived foreign domination of the country's banking industry.
Sat, 14 Apr 2007
Govt urged to intensify gas explorations to cover deficit
Jakarta (ANTARA News) - The government should step up gas exploration activity in the country to cover a shortage in natural gas supply to domestic industries, Industry Minister Fahmi Idris said here Friday.
Sat, 14 Apr 2007
Boyolali furniture exports increasing
Boyolali (ANTARA News) - Rainfall in Central Java that had been declining in the past month had boosted Boyolali district`s furniture exports, as the drying of wood for the production of furniture had become faster.
Sat, 14 Apr 2007
Palm oil killing rainforest in Indonesia
Friday 13th April, 2007 (IANS)Sulur is 50 years old, delicately built, but strong as a bear. With high swings, the Indonesian slams his axe into the stem of an oil-palm fruit bunch two, three, four times. Then the bunch of black-orange, berry-like fruits falls to the ground.
Fri, 13 Apr 2007
Identify your greatest strengths and develop them, says analyst
In today's global economy where managing market information is the key to staying ahead of the competition, Indonesia must firstly identify those sectors in which it has advantages, and then focus on developing them, an expert says.
Fri, 13 Apr 2007
Investment in Developing Countries Predicted to Rise
TEMPO Interactive, Jakarta: Investment in developing countries, including Indonesia, will continue growing.This opinion was conveyed by Mark Mobius, President of Templeton Emerging Markets Fund Inc.The reason he gave was that the inflation rate was decreasing and already under control.
Fri, 13 Apr 2007
Microsoft Offers Discount to Government for Vista
TEMPO Interactive, Jakarta: PT Microsoft Indonesia will offer the latest Windows Vista and Microsoft Office software with discounts of up to 80 percent off market prices.This offer will be proposed during the tenders for software procurement that will be held at every regional government.
Fri, 13 Apr 2007
Government Urged to Manage Modern Markets
TEMPO Interactive, Jakarta: Business groups are urging the government to issue a presidential regulation on modern markets as soon as possible.They said they were convinced that a draft of the regulation had been prepared, but it was yet to be proposed to the Cabinet Secretariat so that it can be...
Fri, 13 Apr 2007
Indonesian Economy in First Quarter Positive
TEMPO Interactive, Jakarta: The Finance Department has stated that Indonesia’s economic growth in the first quarter of 2007 showed satisfying results.According to Anggito Abimanyu, Head of the Fiscal Policy Body, economic growth in the first quarter of 2006 was between 5.7 and 5.
Fri, 13 Apr 2007
Bank Mandiri planning to acquire multi-finance company or bank
Jakarta (ANTARA News) - State-owned Bank Mandiri is planning to acquire a multi-finance company or bank with assets reaching a certain minimum amount, the bank`s chief said."In our revised business plan, we will include a plan to acquire a multi-finance company or bank whose assets reach a certain...