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Sat, 25 Aug 2007
Indonesia concerned over declining oil output
The Indonesian government expressed concern Friday over the continued decline in oil production in the last 10 years that could cause the budget to miss revenue target."The current production hovers around 900,000 barrels per day, and we have set a target of 1.
Sat, 25 Aug 2007
RI plans power grid with neighbors
Indonesia, Singapore and Malaysia agreed on Thursday to build three interconnected power transmission networks using up to US$1 billion in investment.Indonesian Energy and Mineral Resources Minister Purnomo Yusgiantoro said the agreements, signed at the sidelines of an ASEAN Energy Ministries...
Sat, 25 Aug 2007
RI`s foreign tourist arrivals in 1st semester 2007 up 12.2 pct
Jakarta (ANTARA News) - The number of foreign tourist arrivals in Indonesia in the first semester 2007 was up 12.2 percent compared to the figure for a corresponding period in 2006, a tourism ministry official said.
Fri, 24 Aug 2007
Govt to revise industrial growth target
Jakarta (ANTARA News) - Industry Minister Fahmi Idris said here on Thursday the government would revise its industrial growth target due to energy and raw materials supply problems faced by industries."There will definitely be a revision of the target," he said when asked if various problems faced...
Fri, 24 Aug 2007
Regional authorities must ensure survival of traditional mkts, Yudhoyono says
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono said regional administrations should make spatial allocations for modern and traditional markets in their respective jurisdictions that will ensure the latter`s survival.
Fri, 24 Aug 2007
ABN AMRO turning to SMEs for future growth
After concentrating on corporate banking for years, ABN AMRO Indonesia will gradually turn its business focus to small and medium enterprises (SMEs) to ensure future growth.Country head for business banking of the Netherlands-based bank, Madi D.
Thu, 23 Aug 2007
Indosat boosts capital expenditure to $1.2b
PT Indosat, the country's second largest mobile phone operator, will increase its capital expenditure this year to US$1.2 billion from $1 billion as initially planned to further expand its networks and improve the quality of its services.
Thu, 23 Aug 2007
Indonesia least attractive country for foreign retailers: Survey
Despite its high population and large economic size, Indonesia is among the least attractive countries for foreign retailers to invest in, according to a survey conducted recently by management consulting firm A.T. Kearney.Speaking here Wednesday during a seminar on retailers' distribution, A.T.
Thu, 23 Aug 2007
Indonesia, Singapore to meet again on economic zone
The government looks set to develop Special Economic Zones (SEZs) in the Batam, Bintan and Karimun islands with Singapore, after issuing regulations relating to implementation of the SEZs earlier this week.
Thu, 23 Aug 2007
Indonesian companies chase green gold mine
More Indonesian companies are getting involved in greening projects to tap into the massive financial potential of the emerging global carbon trading business.As of this month, the government has approved 13 carbon trading projects, exceeding this year's target of 10 projects.
Thu, 23 Aug 2007
Australia to hold building, construction expo in Jakarta
JAKARTA (Antara): A large number of Australian companies were set to participate in next week's Australian Building Exhibition in Jakarta end of this month, highlighting the strong Australian interest in trade and investment opportunities in Indonesia, Australia's Ambassador to Indonesia Bill...
Thu, 23 Aug 2007
Bridgestone to boost tyre output in Indonesia, India
Tokyo (ANTARA News/Asia Pulse) - Japan's Bridgestone Corp. (TSE:5108) unveiled plans Wednesday to expand production of car tyres in Asia amid low labour costs and growing local demand.The world's largest maker of tyres and industrial rubber products by sales value intends to spend 15.
Wed, 22 Aug 2007
Freeport Must be Prepared to Renegotiate Contract
TEMPO Interactive, Jakarta: Simon Sembiring, Director General of Minerals, Coal and Geothermal, has said that PT Freeport Indonesia cannot reject the renegotiation of its working contract with the government.
Tue, 21 Aug 2007
Palm oil not a field of dreams for all Indonesians
Palm oil prices might be going through the roof and making investors and businessmen rich, but the soaring prices have not improved the lot of pickers and locals working on the fringes of the industry.The island of Sumatra is one of the main palm oil-growing islands in Indonesia, which is the...
Tue, 21 Aug 2007
Chinese investors seek local partners to invest
At least five Chinese companies are exploring the possibility of setting up joint venture factories to produce technical equipment for both local and international markets, says an executive from the Chinese trade commission.
Tue, 21 Aug 2007
Indonesia to set up team to implement EPA
Jakarta (ANTARA News) - Chief Economic Minister Boediono said that the government would form a special team to supervise the implementation of the Indonesia-Japan Economic Partnership Agreement."We will set up a special team which will monitor the implementation phase by phase of the EPA, including...
Tue, 21 Aug 2007
Indonesia`s Mobile-8 sells $100 mln bonds to finance 2008 capex, debt
Jakarta (ANTARA News) - Indonesia's fourth largest mobile telephone operator PT Mobile-8 Telecom said Tuesday its unit Mobile-8 Finance BV has sold bonds worth 100 million US dollars.Mobile-8 president Hidadjat Tjandradadja told Thomson Financial that Mobile-8 will guarantee the bonds and will use...
Mon, 20 Aug 2007
Chevron Expands Geothermal Operations
The world's largest geothermal energy producer, Chevron Corp., officially opened the third unit of its Darajat power plant in Garut, West Java, on Tuesday (14/8/07), providing electricity to an additional 700,000 homes, The Jakarta Post reported.
Mon, 20 Aug 2007
CBA Interested in Increasing Portfolio
The Commonwealth Bank of Australia (CBA) said Wednesday (15/8/07) it is interested in expanding its portfolio in Indonesia, reported Dow Jones Newswires.Announcing CBA's annual result, chief executive officer Ralph Norris told journalists the lender is interested in both acquisitions and organic...
Mon, 20 Aug 2007
Car Sales Slip in July
The country’s biggest car dealer PT Toyota Astra Motor said Thursday (16/8/07) it sold 12,927 cars in July on the domestic market, down 2.9% from June but up 68.9% from a year ago.Industry-wide domestic car sales in July dropped 2.6% to 38,396 from June, but were up 75% from a year ago, it said.
Mon, 20 Aug 2007
Plantation Holding Company in 2009
The government plans to establish a holding company for state-owned plantation companies in 2009, State Minister for State Enterprises Sofyan Djalil said.The plan is expected to increase the equity of state plantation companies by 107% to Rp62.27 trillion ($6.
Mon, 20 Aug 2007
Manufacturing Grows 5.4% in 1H
The manufacturing sector grew 5.4% in the first half of 2007 compared with the same period last year, but fell short of the target set by the government, Antara reported.The main drivers for growth were the automotive, machine and equipment sector, which expanded by 10.
Mon, 20 Aug 2007
IOI Corp, Harita Group in Oil Palm Joint Ventures
Malaysia's most valuable plantation firm IOI Corp Bhd said Wednesday (15/8/07) it has agreed to team up with Indonesia's Harita Group to cultivate oil palms in Kalimantan.The company will spend $130 million to buy a 33% stake in PT Bumitama Guanajaya Agro and a 67% stake in several unnamed...
Mon, 20 Aug 2007
Investment Climate Improved - Japan
The Japanese government acknowledges Indonesia’s progress in improving its investment climate that Japanese Prime Minister Shinzo Abe will bring 150 top Japanese business executives when he visits Jakarta on August 19-21, a Japanese official said Thursday (16/8/07).
Mon, 20 Aug 2007
Consumer Confidence Up Slightly in July - BI
Consumer confidence in the country improved slightly in July from a month earlier, Bank Indonesia (BI) said Monday (13/8/07).The central bank said its consumer confidence index rose 0.5 point to 96.3 in July from 95.
Mon, 20 Aug 2007
Q2 GDP +6.28% on Year on Exports
The economy expanded 6.28% on year in the second quarter, accelerating from 5.97% the previous quarter, the Central Bureau of Statistics (BPS) said Wednesday (15/8/07).On quarter, the economy grew 2.41%, quickening from 1.97% in the January-March period.
Mon, 20 Aug 2007
2008 Budget to Spur Growth
President Susilo Bambang Yudhoyono announced a budget for next year that will push funds into infrastructure development.The government is targeting growth of 6.8% next year, up from its projected 6.3% this year, on a deficit of 1.7% of gross domestic product, Dr.
Mon, 20 Aug 2007
Govt pins hopes on infrastructure development to drive growth
Boosting infrastructure development to help drive growth and create jobs, while improving education and public health services, will be the government's priority in next year's budget.As part of this plan, seven ministries will receive significant allocation increases in the 2008 draft budget.
Mon, 20 Aug 2007
Financial turmoil could hurt Asia over six months: Singapore PM
Singapore (ANTARA News) - Asia could feel the impact of turbulence that rocked global markets over the next three to six months but the region's foundations remained strong, Singapore Prime Minister Lee Hsien Loong said.
Sun, 19 Aug 2007
Air cargo industry faces problems
A lack of regulations and airport facilities has made Indonesia's air cargo industry virtually stagnant during the past several years, as investors are reluctant to enter the business, says an executive.
Sun, 19 Aug 2007
Investments in RI grows, skepticism remains
The Indonesian court system was the worst of all Indonesian government institutions and required a "complete overhaul", said a foreign lawyer speaking at a panel discussion on Indonesia's trade and investment prospects in Jakarta on Wednesday.U.S.
Thu, 16 Aug 2007
Supermarkets challenge farmers
The booming modern retail sector now accounts for 30 percent of Indonesia's retail food trade, a World Bank report says, although Indonesian growers of fresh fruit and vegetables have yet to fully take advantage of the opportunities this provides.
Wed, 15 Aug 2007
Renaissance in Indonesian infrastructure sector
Post crisis Indonesian infrastructure development has so far seen little growth, especially in projects relating to public and toll road infrastructure, power generation and other infrastructure facilities.
Wed, 15 Aug 2007
Chevron expands geothermal operations
The world's largest geothermal energy producer, Chevron Corp., officially opened the third unit of its Darajat power plant in Garut, West Java, on Tuesday, providing electricity to an additional 700,000 homes.
Wed, 15 Aug 2007
CPO local market obligation unlikely
Despite the high price of cooking oil, the government has no plans to apply a domestic market obligation (DMO) to crude palm oil producers -- which would force them to set aside part of their output for the domestic market -- to help stabilize the price, a minister said Tuesday.
Wed, 15 Aug 2007
Indonesia's Supermarket Boom Offers New Opportunity for Traditional Markets
Originally Posted By: WB report“Moving over poor roads, lacking cold chains and logistics services while dealing with entrenched bad business practices, Indonesian farmers face formidable odds. That is the closest they come to the heart of the problem and by far the greatest single cost of...
Wed, 15 Aug 2007
Indonesia's Supermarket Boom Offers New Opportunity for Traditional Markets
You see that all the time in Sumatra, empty Oil Drums laid across the road, only being removed when you have paid the toll!
Wed, 15 Aug 2007
Indonesia's Supermarket Boom Offers New Opportunity for Traditional Markets
Back to the original post... This is typical of WB/UN type of reports where they are either too naive or too afraid to talk about corruption as the real problem.As far as transporting produce, BY FAR the highest cost (which gets passed on to the consumer) is not the cost of fuel, the trucks or the...
Tue, 14 Aug 2007
Indonesia's Supermarket Boom Offers New Opportunity for Traditional Markets
Taken at Senayan only 15 minutes ago.
Tue, 14 Aug 2007
Indonesia's Supermarket Boom Offers New Opportunity for Traditional Markets
These findings are part of a report Horticultural Producers and Supermarket Development in Indonesia released by the World Bank in Jakarta today.Report HighlightsAmong the main findings of the report is the comparative disadvantage of traditional wholesale markets in competing with suppliers of...
Tue, 14 Aug 2007
Telkom Set to Expand Broadband
State telecommunications company PT Telkom will invest more in high-speed Internet services to counter market share gains by new entrants in the cellular industry, including Hong Kong billionaire Li Ka-shing.
Tue, 14 Aug 2007
Consumer Confidence Moves Upward
The consumer confidence index increased slightly to 96.3 points in July from 95.8 in June, largely due to a drop in the number of respondents pessimistic about job creation prospects in the next six months, a Bank Indonesia (BI) survey showed.
Tue, 14 Aug 2007
Another year of economic growth, but whom has it benefited?
In a few days from now, Indonesia will be celebrating another year of independence. There are reasons for every citizen to feel good. Around four out of five people believe that "democracy is working" and three out of four are confident of the country's economic future.
Tue, 14 Aug 2007
Consultancy to help RI firms in export standards
The establishment of a new private consultancy means Indonesian exporters will now have more help navigating the myriad export standards imposed by foreign countries, especially Australia.Australia's Senior Trade Commissioner to Indonesia, Rod Morehouse, said in press release sent to The Jakarta...
Tue, 14 Aug 2007
Poor bureaucracy, low compliance holding back tax collection efforts
If there are hotter seats in the government than the tax service, there can't be many of them.While expectations have been high, the tax office's efforts to collect tax revenue have been constantly hampered by a combination of poor bureaucracy, low compliance and rising demands for tax incentives,...
Tue, 14 Aug 2007
Indonesia has improved its investment climate : Japan
Tokyo (ANTARA News) - The Japanese government acknowledges that Indonesia has made progress in improving its investment climate so that Japanese Prime Minister Shinzo Abe will bring 150 top Japanese business executives in his visit to Jakarta next week, a Japanese official said here on Tuesday.
Tue, 14 Aug 2007
Rupiah plunges in early trade on dollar buying by local traders
They have a nice little real-time chart here:http://www.forexdirectory.net/idr.html
Tue, 14 Aug 2007
Rupiah plunges in early trade on dollar buying by local traders
Wouldn't be surprised if all the BI execs and their family members -- who knew the exact time of the injection -- Immediately used Rupiah from their personal accounts to buy dollars when it spiked at 9200.
Tue, 14 Aug 2007
Rupiah plunges in early trade on dollar buying by local traders
Check this 5-day chart from yahoo finance. It's quite clear there on Monday mid-morning that the BI injected a couple billion dollars of its reserves to buy Rupiah, but the price just popped right back to the pre-injection level later in the day.
Tue, 14 Aug 2007
Rupiah plunges in early trade on dollar buying by local traders
I have now moved nearly every Rp. I own in to a USD account. While the USD doesn't seem to be in great shape at the moment I have not been sleeping well at night with thoughts of the IDR becoming worthless again! This thread is to blame for this panic move ..