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Wed, 31 Dec 2008
Where is the household rupiah going?
Debnath Guharoy, Consultant What a year it's been. By any yardstick, 2008 was an exceptional one for most people regardless of age, gender or geography. In the turmoil, the established economic order is in question around the world.
Wed, 31 Dec 2008
Government Asked to Cut Red Tape to Encourage Foreign Investors
The Indonesian Industrial Estate Association, or HKII, on Tuesday urged the government to implement its industrial estate regulation, known as RPP KI, to better protect businesses and attract foreign investors.
Wed, 31 Dec 2008
Ministry Forecasts Energy, Mining Sectors Revenues Will Plummet 21% Next Year
Slowing market demand and the international financial crisis have caused significant drops in gold, sliver, tin and copper production in Indonesia in recent months and also forced companies to revise down their targets for 2009, ministry officials said on Tuesday.
Wed, 31 Dec 2008
Indonesia delays free trade deals with Oz, NZ
The Jakarta Post, JakartaIndonesia, Southeast Asia's largest economy, has delayed signing a trade deal with Australia and New Zealand, due to be inked this month, until March next year, a senior official said Monday.
Wed, 31 Dec 2008
Government to Issue Free Trade License for Ports
Tuesday, 30 December, 2008 | 19:19 WIBTEMPO Interactive, Jakarta: Indonesian Authority is planning to issue a free trade license for five ports in three free trade zones. Port and Excavation Director at the Transport Ministry, Cholik Kirom, said the license will come into effect in January 1st 2009.
Tue, 30 Dec 2008
Tourism law accomplishes little
Indonesia's biggest problem is it's undeserved bad rep with tourists.When in Malaysia on holiday several times over the last few years I often considered coming here but was always warned against it by other tourists and Malays (Mostly Chinese) I knew.
Mon, 29 Dec 2008
Real Estate Agents Lobby for Foreign Property Rights
Constitution Bars Realtors' Efforts to Extend Property Ownership Rights to Non-Indonesians.(12/26/2008) The Indonesian Real Estate Association (REI) chapter from North Sumatra told the national news agency Antara that there is a pressing need to extend the leasehold period for foreigners in...
Mon, 29 Dec 2008
An Economic Strategy for Bali for 2009
Bali's Leaders Gather to Plot Strategies to Confront World Economic Crisis.(12/26/2008) A discussion of Bali's economy for 2009 was convened on Wednesday, December 24, 2008 by Bisnis Bali including leading academics, banking officials, government officials and local business leaders.
Sun, 28 Dec 2008
Indonesian accounting standard reported to IFRS
Jakarta (ANTARA News) - The Indonesian Accountants Association (IAI) reported the Indonesian finance accountancy standards convergence (SAK) to International Financial Reporting Standards (IFRS) at its 51st anniversary.
Sun, 28 Dec 2008
Observer: direct investment to drop in 2009
Jakarta, (ANTARA News) - Economic observer from the Institute for Development of Economics and Finance (Indef), Aviliani, predicts direct investment in Indonesia in 2009 will drop due to political conditions in the year.
Sat, 27 Dec 2008
Aquaculture Production Expected to Increase 45 Percent Next Year
The Ministry of Marine Affairs and Fisheries said that aquaculture, or commercial fisheries, would overtake traditional fishing as the main source of Indonesia’s seafood in next year.Soen’an Hadi Poernomo, the ministry’s head of information, said aquaculture production was projected to rise...
Sat, 27 Dec 2008
Tourism law accomplishes little
We don't see how the new tourism law which was passed by the House of Representatives last week will contribute to further developing Indonesia into a major destination for global tourists.Simply speaking, the new legislation fails to provide new, strong building blocks for strengthening the main...
Fri, 26 Dec 2008
Retailers Slam Ministry’s Market Decree
In a move critics say smacks of protectionism and goes against fair trade practices, the Ministry of Trade has issued a decree banning hyperstores, shopping malls, supermarkets and mini-markets nationwide from opening outlets near traditional markets and levies fees on the products they sell.
Fri, 26 Dec 2008
AGO says ministry's documents unlawful
Travel Ban Placed on Web Site Graft Company Executiveby Arientha PrimanitaThe Immigration Department has banned an executive of a company at the center of a corruption scandal at the Ministry of Justice and Human Rights from traveling overseas, an official said on Thursday.
Fri, 26 Dec 2008
Look high or low for tourism flow: Hit or miss?
The Jakarta Post, Jakarta Which number would you like to have for next year's total tourism visit projection? Would it be 6.2 million, 6.4, 6.5, or even 8 million? These are the choices you get when the government sets a target for expected visitors to the country in 2009.
Fri, 26 Dec 2008
The Bakrie Empire and Indonesia's government
sym·bi·o·sis (sĭm'bē-ō'sĭs, -bī-) n. pl. sym·bi·o·ses (-sēz)Biology: A close, prolonged association between two or more different organisms of different species that may, but does not necessarily, benefit each member.
Thu, 25 Dec 2008
Indonesia to boost spending on infrastructure amid global recession
JAKARTA, Dec. 24 (Xinhua) -- Indonesia planned to raise spending on infrastructure next year to 100 trillion rupiah (some 9.2 billion U.S. dollars) from this year's 60 trillion rupiah (about 5.5 billion U.S.
Thu, 25 Dec 2008
Business to recover in second semester of 2009 Jakarta (ANTARA News) - The Indonesian Young Entrepreneurs Associat
Jakarta (ANTARA News) - The Indonesian Young Entrepreneurs Association (HIPMI) has predicted that businesses' performance which at present is experiencing the impact of global financial crisis in the country will recover in the second semester of 2009.
Thu, 25 Dec 2008
President: All national ships must fly Indonesian flag
Gresik, East Java (ANTARA News) - President Susilo Bambang Yudhoyono reiterated the government`s determination here on Wednesday to make all the ships transporting goods between the different parts of the country to fly the Indonesian flag.
Wed, 24 Dec 2008
Kadin says domestic market must be given priority
Jakarta (ANTARA News) - Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) for Monetary and Fiscal Committee, Bambang Soesatyo said efforts must be made to increase the absorption capacity of domestic market in facing the impact of global economic crisis.
Wed, 24 Dec 2008
Firms invest less on weak demand
Ika Krismantari, Jakarta Post, Jakarta In a clear sign of a slowdown, investment in the country's industrial sector is forecast to drop by 18 percent this year, from a year earlier, with a further decline expected next year as the impact of the global economic downturn peaks.
Wed, 24 Dec 2008
Oil and gas companies to spend big in 2009
Alfian, The Jakarta Post, Jakarta Oil and gas contractors have proposed to the regulator to spend up to US$13.15 billion on investment in exploration and production in 2009.These investment plans were submitted to BPMigas through the companies' 2009's working and budget programs, BPMigas's chairman...
Wed, 24 Dec 2008
Coal demand for next year: Probably not so hot anymore
Katherine Hermawan, AnalystThe recent drop in the market price of coal from its record levels earlier this year will adversely impact earnings of Indonesian coal producers. Based on this factor, going forward, we expect weaker coal prices in line with the downtrend in oil prices, while higher...
Wed, 24 Dec 2008
Look high or low for tourism flow: Hit or miss?
Which number would you like to have for next year's total tourism visit projection? Would it be 6.2 million, 6.4, 6.5, or even 8 million? These are the choices you get when the government sets a target for expected visitors to the country in 2009.
Wed, 24 Dec 2008
Lutfi Sees Drop in Investment Investment in Indonesia is predicted to total $17 billion in 2009, Muhammad Lutf
Investment in Indonesia is predicted to total $17 billion in 2009, Muhammad Lutfi, the chairman of the country’s investment board said, lower than an earlier target of around $20 billion due to the global economic crisis.
Wed, 24 Dec 2008
Bahana Opening Mutual Fund To Finance Kalimantan Port
State-owned PT Bahana TCW Investment Management is offering a limited-placement mutual fund aimed at raising Rp 325 billion ($29.9 million) to finance the development of an East Kalimantan supply base for mining logistics. Dwina S.
Wed, 24 Dec 2008
Government Aims to Speed Trade Activities, Cut Graft With Updated Online System
Muhamad Al AzhariAs parts of its effort to boost international trade efficiency, the government on Tuesday launched the third phase of the “National Single Window” program, or NSW, an online system which may enable traders to submit necessary documents and obtain clearance from a wider array of...
Tue, 23 Dec 2008
Mining Bill Questions May Delay Investments
There will be few major investments in Indonesia’s mining sector until the government clarifies uncertainties in the recently passed mining bill, industry analysts and companies said on Monday.“Whether we like it or not, the mining bill has been passed.
Tue, 23 Dec 2008
Tranzeo and TRG Sign Joint Development Agreement to Create WiMAX Radios for Indonesia
PITT MEADOWS, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2008) - Tranzeo Wireless Technologies Inc. (TSX:TZT), a premier manufacturer of wireless broadband and WiMAX communication systems, has signed an agreement to jointly develop WiMAX subscriber units for the Indonesian market with PT.
Tue, 23 Dec 2008
Pertamina to spend big on upstream
Alfian, The Jakarta Post, BandungState oil and gas company PT Pertamina plans to spend around Rp 11 trillion (US$1 billion) on upgrading its upstream facilities as part of an effort to boost output, the company's upstream director, Karen Agustiawan, says.
Tue, 23 Dec 2008
Govt to squeeze mining firms for more revenue
The government may request increased royalty payments from mining companies by reviewing their current contracts following the enactment of an amended mining law, Energy and Mineral Resources Ministry Purnomo Yusgiantoro says.
Tue, 23 Dec 2008
RI, China sign Rp 35t deals on energy, mining
Alfian and Adianto Simamora, Jakarta, The Jakarta Post Indonesia and China signed deals Monday covering cooperation on eight energy and mining projects worth a total of around Rp 35 trillion (US$3.13 billion).
Tue, 23 Dec 2008
Lampung builds special school to support bioenergy program
The Lampung provincial administration is building an integrated biofuel school in Central Lampung regency as part of its plan to become a national bioenergy center.Construction of the special school in Sulusuban village, Central Lampung, is expected to cost Rp 216 billion (US$19.
Tue, 23 Dec 2008
Batam aims to enter Korean market with Ming Aralia plant
Since mid-November, Haliman, 50, has been busily engaged in cultivating Polyscias Fruticosa, better known as Ming Aralia, an evergreen shrub native to India and Polynesia, at the Sei Temiang flower nursery in Batam, Riau Islands.
Mon, 22 Dec 2008
Businesses seek extension to tax deadline policy
Mustaqim Adamrah and Aditya Suharmoko, The Jakarta Post, Jakarta The Indonesian Chamber of Commerce and Industry (Kadin) has requested the government to postpone a deadline to improve tax filing and undertake tax registration until March next year as businessmen are busier than ever coping with the...
Mon, 22 Dec 2008
Rocky Outlook for CPO Could Mean Seed Import Suspension
The government may halt imports of oil palm tree seeds next year as domestic demand for the seeds slows amid the global economic slowdown and a drop in crude palm oil prices.“We are still trying to figure out how much domestic demand there will be for [oil palm seeds] next year,” Achmad Mangga...
Mon, 22 Dec 2008
Finance minister calls for help to fight port mafia
The Jakarta Post | Sun, 12/21/2008 4:08 PM | BusinessFinance Minister Sri Mulyani has called on local business people to help her ministry fight what she called the "port mafia"."Currently, I'm fixing our port, which includes reforming the customs office.
Mon, 22 Dec 2008
Government To Support Handicraft Industry
The government plans to host hundreds of promotional events and trade shows in 2009, which it has dubbed the “Year of Creative Industries” in response to complaints that it isn’t doing enough to stop foreign producers from cashing in on Indonesia’s cultural heritage by selling imitation...
Mon, 22 Dec 2008
A 'Sacred' Figure: 7 Million Foreign Tourists?
Originally Posted By: MarmaladeSad but true that more people want to visit that over-sanitised little dump Singapore than here... Indonesia is the main source of tourists visiting Singapore. Numbers will only likely increase once Singapore opens its casinos in a couple of years.
Mon, 22 Dec 2008
A 'Sacred' Figure: 7 Million Foreign Tourists?
Pretty good reporting. Sad but true that more people want to visit that over-sanitised little dump Singapore than here...
Sat, 20 Dec 2008
A 'Sacred' Figure: 7 Million Foreign Tourists?
Editorial: Bali Post Editorial Questions Efficacy and Professionalism of Indonesian Tourism Promotion.(12/20/2008) Pande Putu Setiawan S.T, M.M. an alumnus of Yogyakarta's Gadja Mada University post-graduate program and the University of Victoria (Canada) contributed an editorial for the December...
Fri, 19 Dec 2008
BPMigas has 6 months to change
The Corruption Eradication Commission (KPK) has given the Upstream Oil and Gas Regulator (BP Migas) six months to mend its poor inventory system that has given rise to allegations of embezzlement.Speaking after meeting with BP Migas head R.
Fri, 19 Dec 2008
Batam businesses want quick transfer from BIDA to BPK
Fadli, The Jakarta Post, Batam Business circles in Batam, Riau Islands province, are calling on the government to expedite the planned setting up of a regional management body (BPK) in the area aimed at replacing -- fully or partly -- the Batam Industrial Development Authority (BIDA).
Fri, 19 Dec 2008
Ministry: Tourism arrivals to rise 25 percent
The Jakarta Post, Jakarta Almost certain to meet this year's revised downward target, the government remains boldly confident foreign tourist arrivals will rise 25 percent next year, betting partly on the results of higher promotional budgets, says a ministry official.
Fri, 19 Dec 2008
Indonesia looks to Middle East, Gulf oil-rich investors
The government aims to net more investment from Middle East oil state main players next year, in particular in the agricultural sector, despite the global economic downturn, says a government official.Investment Coordinating Board (BKPM) chairman Muhammad Lutfi said Thursday that Arab investors...
Fri, 19 Dec 2008
Govt eyes $25b of investment in energy and mining
Alfian, The Jakarta Post, Jakarta In a bold move, the government forecasts investment in the oil, gas, power and mining sectors next year will grow by 16.7 percent compared to this year, despite the global financial crisis and economic downturn constraining some financial flows.
Fri, 19 Dec 2008
Lombok Mineral Water Exported to Australia
$12,500 dollar a month export makes the news - $1.8 million USD of furniture flogged in Dubai --- Are things really that bad that this is the most positive business news Indonesia can muster? Or is it just the Christmas effect?