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Sat, 09 Aug 2008
Tanners group looks to overseas amid shortage
The Indonesian Tanners Association is seeking suppliers to source raw and pickled goat leather and sheep skin from nine countries to compensate for a lack of leather supply in the country.The association's secretary general Agit Punto Yuwono said Friday the grouping was now eyeing at least nine new...
Sat, 09 Aug 2008
A Moratorium on New Hotel Development in Bali.
Bali Tourism Chief Says Bali Has Sufficient Rooms with an Estimated 50,000 Rooms.(8/9/2008) Beritabali.com quotes Bali's Chief of the Provincial Tourism Authority, Gede Nurjaya, as recommending that the City of Denpasar and all regencies in Bali undertake a moratorium on the issuance of new...
Sat, 09 Aug 2008
Corruptive Attitude Remains, Says KPK
Friday, 08 August, 2008 | 19:11 WIBTEMPO Interactive, Jakarta: Members of the Indonesian general public still considers the country has a corruptive attitude despite the existence of the Commission for Eradication of Corruption (KPK).
Fri, 08 Aug 2008
Demand for industrial land robust in H1: Procon
The Jakarta Post, JakartaNet take-up in 36 industrial estates in Greater Jakarta has doubled in the first semester from the previous period, a report by property consultant Procon Indah shows.During the January-June period, 58.
Fri, 08 Aug 2008
Major cities a haven for shopping malls
Jakarta, Surabaya, Medan and Bandung are the most sought after cities for investors seeking to engage in the retail sector, a recent study from property consultant Jones Lang LaSalle reveals.The study, revealed Thursday, suggests that the cities are launch pads for new entrants into the retail...
Fri, 08 Aug 2008
Purchasing power is strong enough to support economic growth
Purbaya Yudhi Sadewa, AnalystThe fuel price hikes in May resulted in double-digit inflation. By July 2008, the year-on-year inflation rate had reached 11.97 percent.Some analysts might have contended that the heightening inflationary pressures were likely to hurt consumer purchasing power and...
Fri, 08 Aug 2008
More work needed to meet tourism target
The Jakarta Post, JakartaIndonesia, Southeast Asia's largest economy, has been cashing in from increasing foreign tourist arrivals, thanks to better security, more money on promotion and mushrooming leisure events.Between January and June this year, the country recorded a 11.
Fri, 08 Aug 2008
East Java to seek out illegal expat workers
The East Java Manpower Agency said it would cooperate with police and immigration officials to conduct raids on thousands of expatriates working in the province without the proper authorization."Raids will be conducted simultaneously in a number of companies on Aug.
Thu, 07 Aug 2008
Forging strategic ties
Khazanah Nasional, the investment arm of the Malaysian Government, is now a major corporate player in Indonesia with nearly $2 billion in investments. As it seeks to expand its corporate presence, Khazanah is also mindful of having a positive socio-economic impact.
Wed, 06 Aug 2008
Rise in BI rate to hit hard property sector
Jakarta, (ANTARA News) - The rise in the benchmark interest rate or BI Rate to 9 percent from 8.75 percent will deal a blow to demand for property, a real estate developer predicted."We predict the key rate will continue to increase to up to 9.
Wed, 06 Aug 2008
Foreign investment in N Sumatra reaches $44 million until June
Medan, N Sumatra, (ANTARA News) - The North Sumatra Provincial Investment and Promotion Board (Bainprom) said eight foreign investors realized their investment proposals worth US$44.95 million in the first half of this year.
Tue, 05 Aug 2008
BP-MIGAS warns oil output to finish in 10 years' time
Oil watchdog BPMIGAS warned that the country's dwindling oil reserves could be exhausted in 10 years' time if no new reserves are found, Reuters reported.Indonesia has struggled to develop its rich energy resources, turning into a net importer of crude oil in recent years.
Tue, 05 Aug 2008
Telkomsel's customer base increases to 55 million
Indonesia's largest cellular operator PT Telkomsel disclosed that its customer base had increased to a total of 55 million numbers as of end of July from 48 million by the end of last year, Antara reported.
Tue, 05 Aug 2008
Govt. to streamline regional taxation
The central government and the House of Representatives are amending the 2000 Law on Regional Tax and Retribution in an effort to prevent regions from enacting selfish bylaws, The Jakarta Post reported.
Tue, 05 Aug 2008
Better inflation on July
Although inflation rate in July showed an improvement against the June’s inflation, analyst says that inflation could be further down if the government works harder to improve some factors that affect the supply and demand process.
Tue, 05 Aug 2008
RI, Malaysia discussing CPO pricing scheme
Sukabumi, W Java (ANTARA News) - Indonesia and Malaysia are holding talks to set up a crude palm oil (CPO) pricing scheme as means to prevent prices from fluctuating in the world market, Indonesian Minister of Agriculture Anton Apriantono said.
Tue, 05 Aug 2008
Sugar Palm to be Gasoline
If I remember correctly I believe 85% of the cars in Brazil run on ethanol made from sugar cane and it is not like corn where the States spends more energy through the process to make ethanol from corn than what they receive back from the finished product.
Mon, 04 Aug 2008
Global Obsession
Reza V. Maspaitella owns the first integrated outsourcing company in Indonesia with a focus on banking, finance and insurance. Now, it's his obsession to go global.The 18th floor of his Kuningan office is packed.
Mon, 04 Aug 2008
An empire built from a superstition
Mon, 08/04/2008 11:28 AM | BusinessThe Gudang Garam empire came to life under the leadership of its founder Surya Wonowidjojo, or Tjoa Jien Hwie, in June 1958.After gaining valuable experience working for his uncle's cigarette company, Surya set up his home business, Pabrik Rokok Tjap Gudang Garam,...
Mon, 04 Aug 2008
Sugar Palm to be Gasoline
Monday, 04 August, 2008 | 11:36 WIBTEMPO Interactive, Bandung: The energy crisis has forced people to look for energy alternatives. Johan Mononutu from North Sulawesi has discovered sugar palm as a potential ethanol.
Sun, 03 Aug 2008
Investors burnt in biofuel explosion
Brave predictions that Indonesia would emerge as the “Middle East of Biofuel” have evaporated. The industry faces testing times and opening the local market appears the only way to survive.Biofuel went big globally with a slick public relations package in 2005.
Sun, 03 Aug 2008
Global investors eye Indonesia
The recent Indonesia Regional Investment Forum 2008 brought together more than 200 international investors with a shared objective: to explore investment opportunities in one of the fastest growing economies in Asia.
Sun, 03 Aug 2008
Indonesia loses appeal to investors on high regulatory risk
PETALING JAYA: When domestic growth dwindles or when a company plans for expansion, going overseas seems like a smart move. For Malaysian companies, Indonesia presents good opportunities because of its large population, low labour cost and vast natural resources.
Sat, 02 Aug 2008
Indonesia boosting cooking oil exports to Pakistan
Jakarta (ANTARA News) - Indonesia, which has secured 45 percent of Pakistan`s market share of imported cooking oil, planned to boost the export of the commodity to that country."We are currently handling it with Pakistan.
Fri, 01 Aug 2008
Astra posts hefty growth on robust auto, CPO sales
PT Astra International, the country's largest publicly traded company, posted hefty growth in the first semester of the year due to higher automotive sales and strong performance of its agribusiness.Astra's revenue increased by 46 percent to Rp 46.27 trillion (US$5.06 billion) from Rp 31.
Fri, 01 Aug 2008
Tax and NPWP
Thu, 07/31/2008 10:23 AM | Reader's ForumI refer to The Jakarta Post's report of July 22 titled "Errant taxpayers to face fines, jail".The report says that the tax office will impose fines and prison sentences upon those who fail to apply for tax identification numbers (NPWP) by the end...
Fri, 01 Aug 2008
Half of oil, gas blocks offered fail to attract investment
Half of the 21 oil and gas blocks offered by the government last year failed to attract investors due primarily to inaccurate data, unfavorable locations and a lack of technology available to tap the resources, an official says.
Fri, 01 Aug 2008
Sampoerna Agro cashes in on CPO boom
Agribusiness giant PT Sampoerna Agro saw a 176 percent increase in sales in the first semester from a year earlier, thanks to a huge increase in prices and sale volume of crude palm oil (CPO), an executive said Wednesday.The publicly listed company gained Rp 1.
Thu, 31 Jul 2008
Indonesia’s Retail Corruption
Counter-corruption commission highlights local flavor of widespread graftEver since Susilo Bambang Yudhoyono was elected president of Indonesia in 2004 on a pledge to root out corruption, the country has been waiting for him to do it.
Wed, 30 Jul 2008
Local firms invited to invest in Indonesia
LOCAL companies are urged to invest in Indonesia in a bid to boost investment cooperation between Brunei and Indonesia.Indonesian Ambassador to Brunei Darussalam, Herijanto Soeprapto, told the local business community during the Jakarta Business Forum, yesterday that "the experience of...
Tue, 29 Jul 2008
Govt. to cut income tax, dividend tax rates next year
Originally Posted By: KuKuKaChuas a general policy, better not to believe anything in indonesia until you see it.and even then, remain skeptical. Things will be better once they ratify that bill concerning stopping all of the corruption...........
Tue, 29 Jul 2008
Govt. to cut income tax, dividend tax rates next year
"The new rates, effective next year, are pending approval by a plenary session of the nation's parliament."Maybe I peaked to soon thinking it was a done deal ... anybody have any information on when this is scheduled?
Tue, 29 Jul 2008
State-owned pawnshop set to chalk up $70M in net profit
State-owned pawnshop Perum Pegadaian said it is optimistic to chalk up around Rp650 billion ($70 million) in net profit this year, Asia Pulse reported.Pawnshop service is more popular and higher in demand at present under difficult economic condition, its president Chandra Purnama said, without...
Tue, 29 Jul 2008
Papua: 1.63M hectares for food crops & biofuel
The government said it has set aside 1.63 million hectares of land in southern Papua for food crops and plants to produce feedstock for biofuel industry, Asia Pulse reported.The government will give priority to local investors to develop the plantations and invite foreign investors to invest in the...
Tue, 29 Jul 2008
Govt. to cut income tax, dividend tax rates next year
The government plans to cut the maximum taxation rates for personal and corporate income and reduce charges on dividend revenue, the chief tax official said, quoted by Dow Jones.The government and a parliamentary commission last week approved a cut in the maximum tax rate on personal income to 30%...
Tue, 29 Jul 2008
Dutch investment in Batam now over $15M
The investment of 13 Dutch companies in the province of Batam has reached $15.171 million, Asia Pulse reported.Their investment is in electronic components, information technology and telecommunications, heavy equipment maintenance, ship instruments and equipment, and the metal industry, Batam...
Tue, 29 Jul 2008
Indonesia Reforms its Tax Structure
[size:14pt]Indonesia Reforms its Tax StructureJakarta hopes to gain revenue and investment by cutting tax brackets, increasing collectionsIf all goes well, at the first of 2009 Indonesia will engineer a radical redesign of its tax structure, instituting election-year tax sweeteners, slashing income...
Tue, 29 Jul 2008
HSBC targets SMEs for credit products
JAKARTA: HSBC Indonesia has launched an import credit facility for mostly small and medium enterprises.Senior vice president for trade and supply chain Vincent C. Sugianto said Express DC was available with a cash collateral of between 25 percent to 35 percent, and a maximum credit line of...
Mon, 28 Jul 2008
Japan wants to increase investment in Indonesia
Jakarta (ANTARA News) - Japan intends to step up the value of its investment in Indonesia, Japanese Parliamentary League chairman Taku Yamasaki told President Susilo Bambang Yudhoyono at the presidential office here on Friday.
Mon, 28 Jul 2008
Government to propose 200 pct increase to luxury goods tax
Jakarta (ANTARA News) - The government is proposing to the House of Representatives (DPR) a 200 percent in increase in maximum luxury good sales` tax (PPnBM), or a drastic increase from the current PPnBM at 75 percent, according to a government`s draft proposal on increase in value added tax (PPN)...
Mon, 28 Jul 2008
Govt to streamline regional taxation
The central government and the House of Representatives are amending the 2000 Law on Regional Tax and Retribution in an effort to prevent regions from enacting selfish bylaws.The amendment is aimed at encouraging investment in cities and regencies that have in the past enacted bylaws designed to...
Mon, 28 Jul 2008
Tax rate cut, a 'friendly' policy
A proposed amendment of the income tax law by the Susilo Bambang Yudhoyono government would cut the corporate income tax rate to a flat rate of 25 percent from between 10 and 30 percent at present.Discussions about lowering taxes on businesses invite several objections.
Sun, 27 Jul 2008
Businesses to brief KPK on high cost of building
Ballooning costs are leading to delays in public construction projects, but government officials are hesitant to renegotiate budgets for fear of being accused of corruption, the Indonesian Chamber of Commerce and Industry (Kadin) has found.
Sat, 26 Jul 2008
H1 orders for office space up 280%: Provis
Despite a decline in the second quarter, the net take up for office space in Jakarta's central business district throughout the first semester reached 196,000 square meters, or a 280 percent jump from a year earlier, a property survey shows.
Sat, 26 Jul 2008
RI needs more liberalization: OECD
Indonesia must raise ownership ceilings for foreign investment and liberalize state-owned monopolies to resolve infrastructure bottlenecks, the Organization for Economic Cooperation and Development (OECD) has said.
Sat, 26 Jul 2008
Indonesia: Progressing, But not Fast Enough
Lisa Murray 25 July 2008The OECD says Indonesia has to try harder despite 5.5 percent growthAsked about his view of the Indonesian economy, Angel Gurria, the head of the Organization for Economic Co-operation and Development, harks back to an old Avis rental car ad campaign.
Sat, 26 Jul 2008
Expensive Jakarta
Friday, 25 July, 2008 | 17:19 WIBTEMPO Interactive, Jakarta:The survey was conducted by Mercer Human Resource Consulting, an international consultant company that regularly organizes a yearly survey on the living costs in 143 major cities on six continents in the world.
Fri, 25 Jul 2008
Income tax overhaul offers rate cuts and business incentives
Aditya Suharmoko, The Jakarta Post, JakartaThe government and the House of Representatives last week finalized an amendment to the income tax law, which, when enacted next month, will cut taxes and offer incentives to businesses.
Fri, 25 Jul 2008
Samsung Group to develop biodiesel in Indonesia
The Jakarta Post, JakartaSamsung Group, South Korea's largest company, plans to develop a 25,000-hectare oil palm plantation and a biodiesel refinery in Riau province with an investment of up to Rp 15 trillion (US$1.63 billion).
Fri, 25 Jul 2008
Errant taxpayers to face fines, jail
Aditya Suharmoko, The Jakarta Post, JakartaIn a bid to amend the country's drastic ratio of registered tax payers to eligible tax payers, the tax office will impose fines and prison sentences upon those who fail to apply for tax identification numbers (NPWP) by the end of the year.