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Sat, 02 Dec 2006
Bakrie telecom seeking US$150 million loan
Jakarta (ANTARA News) - Bakrie Telecom is seeking a US$150 million loan of which $100 million would be used to expand and enhance the networks of its Esia and Wifone services, two of the CDMA (Code Division Multiple Access) technolgy-based company`s prominent products, a spokesperson said.
Sat, 02 Dec 2006
Indonesia's export to reach US$97 billion
Jakarta (ANTARA News) - Indonesia`s exports by the end of this year are expected to reach US$97 billion while the exports in October reached US$82.207 billion."If the exports coud reach US$2 billion in the past two months our exports would reach around US$97 billion," the chief of the Central...
Sat, 02 Dec 2006
Largest Bio-ethanol Factory to be Built
TEMPO Interactive, Bandung: Bio-ethanol producer of South Korea LBL Network Ltd has signed a Memorandum of Understanding with West Java Province and the governments of Kuningan, Subang, Sumedang and Indramayu regencies to build a factory for processing yams to bio-ethanol in West Java.
Sat, 02 Dec 2006
Govt Gives Incentives for Infrastructure
TEMPO Interactive, Jakarta: The Public Works Department has prepared a Rp2 trillion fund as an incentive for infrastructure projects such as roads, drinking water and housing, until 2009. This year, a Rp600 billion fund has been prepared for the drinking water projects which was offered in the...
Sat, 02 Dec 2006
Kalla wants 'Asian values' in trade deal
Stressing that closer economic cooperation among East Asian countries is the key to increased prosperity, Vice President Jusuf Kalla has urged businesspeople and government officials to find ways of overcoming the obstacles hindering economic integration.
Sat, 02 Dec 2006
IFC mau double investment in Indonesia to US$1
Jakarta (ANTARA News) - World Bank unit International Finance Corporation (IFC) expects to double its investment in Indonesia to 1 bln usd in the fiscal year to June 2008, if it is able to avail of opportunities in infrastructure projects, IFC country manager Herman Vegara said.
Sat, 02 Dec 2006
Govt to distribute 400,000 gas stoves
Jakarta (ANTARA News) - The government planned as of March or April next year to distribute 400,000 gas stoves in Jakarta, Bogor, Depok, Tangerang and Bekasi (Jabodetabek), Cooperatives, Small and Medium Businesses Minister Suryadharma Ali said here Thursday.
Sat, 02 Dec 2006
Nokia Wins WCDMA Deal With Indosat
ESPOO, Finland, November 29 /PRNewswire-FirstCall/ -- Nokia (NYSE:NOK) and one of Indonesia's largest operators, Indosat, have extended their cooperation by signing a WCDMA 3G/HSPA network and managed services contract that enables Indosat to offer 3G and wireless broadband services.
Fri, 01 Dec 2006
3G Ultimatum to Hutchinson and Natrindo
TEMPO Interactive, Jakarta: The government is threatening to annul the third generation cellular telecommunication service (3G) frequency licenses belong to PT Hutchinson CP Telecom Indonesia and PT Natrindo Telepon Seluler if the two operators do not provide their 3G services soon.
Fri, 01 Dec 2006
BII obtains $110 million loan from IFC
Jakarta (ANTARA News) - Bank Internasional Indonesia (BII) has secured a Rp1.1 trillion (US$110 million) loan from IFC (International Finance Corporation), the private sector arm of the World Bank, to encourage growth of small- and medium-scale enterpises (SMEs), a spokesperson said.
Fri, 01 Dec 2006
Indosat's performance down
Jakarta (ANTARA News) - Telecommunication operator PT Indosat`s business performance over the past nine months has experienced a backward trend.The declining trend was marked by downward gains in its net profit though its operational income was on the rise.
Fri, 01 Dec 2006
Indosat to spend $1 billion on cell services
Jakarta (ANTARA News) - State telecommunication operator PT Indosat is planning to spend more than US$1 billion mainly on the development of its cellular services next year, its marketing director said.
Fri, 01 Dec 2006
BTN to up housing loans by 26% in 2007 to meet rising demand
Bank Tabungan Negara (BTN), a state-owned lender that focuses on providing mortgages, plans to set aside Rp 7.8 trillion (about US$855 million) to provide home loans next year to meet rising demand for housing.
Fri, 01 Dec 2006
Mobile-8 off to flying debut
The Jakarta Post, JakartaShares of PT Mobile-8 Telecom, the fourth largest of the country's mobile phone operators, jumped by 20 percent on their trading debut Wednesday on the Jakarta Stock Exchange.The company -- the mobile phone unit of PT Bimantara Citra -- saw its stock climb by Rp 45 to close...
Fri, 01 Dec 2006
Indonesia not yet shopper's paradise, says developer
There is still a long road to travel before Indonesia can even think of becoming a major Southeast Asian shopping destination, a mall developer has admitted."The government needs to fix the chaotic transportation system, develop infrastructure and provide tax incentives for tourists," A.
Fri, 01 Dec 2006
Ease off on privatization, says Harvard guru
Dubbed one of the most influential business gurus, Michael E. Porter, also a distinguished author and a professor at Harvard Business School, said Wednesday in Jakarta that the Indonesian government was placing too much emphasis on the privatization program compared to removing business hurdles.
Fri, 01 Dec 2006
Why U.S. management tips fail in Indonesia
The other day Kuku and I were discussing the point that a majority of Bules in JKT were oxygen thieves. They simply don’t perform at the level expected. They are brought in as Bules to over perform, and mentor and lead the locals.
Fri, 01 Dec 2006
Why U.S. management tips fail in Indonesia
Originally posted by: chewwyUKwhat a load of bollocks! There may be loads of unskilled workers available in Indonesia but at management level there is a massive shortage of talent and companies find it difficult to replace people when they leave i agree.
Fri, 01 Dec 2006
Why U.S. management tips fail in Indonesia
"If those with jobs want to exercise their rights and be treated as equals then they risk being shown the door. Outside is a queue of desperate hopefuls who’ll be happy with less money and will promise to never complain.
Fri, 01 Dec 2006
Why U.S. management tips fail in Indonesia
© Duncan Graham 2006A major private bank in Indonesia has just abandoned one of its public relations activities.Since 2002 the bank has been sending welcome letters and useful information to selected top-end customers.
Thu, 30 Nov 2006
Beijing, Jakarta put business before history
JAKARTA - China's growing appetite for natural resources and Indonesia's position as Asia's resource-richest country are pulling the longtime regional adversaries together in a mutually beneficial commercial embrace.
Thu, 30 Nov 2006
Weak Protection for Buyers of Foreign Property
TEMPO Interactive, Jakarta: Association of Indonesia Real Estate Broker has said he considers that the protection for Indonesian consumers as regards purchase of foreign property is still weak.In addition, according to Chairman of Association of Indonesia Real Estate Broker Tirta Setiawan,...
Thu, 30 Nov 2006
Govt needs to 'walk the talk': ABAC
"Stop talking and start working" is the strong message sent by Indonesian business to the government in relation to its efforts to increase investment and improve the country's competitiveness amid the challenges of rapid globalization.
Thu, 30 Nov 2006
APINDO wants wage system changed
Amid a nationwide clamor for minimum-wage increases, a powerful employers' grouping has argued the need for wage levels to be tied to productivity."Provincial, regency and municipal administrations should be deprived of the right to set the minimum wage as they don't assess worker productivity,"...
Thu, 30 Nov 2006
Concerned about gas, Japan signs trade framework
Tokyo (ANTARA News) - Indonesia signed Tuesday the framework for a free trade deal with Japan, which sought firm guarantees for the archipelago's gas exports and took the rare step of agreeing to let in its workers.
Wed, 29 Nov 2006
Tax Breaks on Oil Equipment Extended
Indonesia has extended tax breaks on imports of equipment for oil exploration through to next year in a bid to boost investment in the energy sector, a Finance Department statement said.Authorities abolished import tariffs on oil drilling equipment in 2005 after pleas from oil contractors operating...
Wed, 29 Nov 2006
Bush Supports Indonesia Bio-fuel Initiatives
The US is "very supportive" of biofuel initiatives, President George Bush said on Monday (20/11/06) during a visit to Indonesia, which is trying to develop that sector as it copes with growing energy demand.
Wed, 29 Nov 2006
PGN Plans Compressed Natural Gas Project
State-owned gas distributor PT PGN said on Tuesday (21/11/06) it plans to invest $400 million developing a compressed natural gas project.The company's corporate secretary, Widyadmiko Bapang, said the project is part of the government's effort to reduce the country's oil product consumption in the...
Wed, 29 Nov 2006
Pertamina to Build $1.3b Cracker at Cilacap
State-owned PT Pertamina will spend $1.3 billion to build a 40,000 to 50,000 barrel-per-day (bpd) cracking unit at its Cilacap refinery, an official said Wednesday (22/11/06)."The new cracking unit will enable us to shift production from fuel oil to more valuable products, such as gasoline and...
Wed, 29 Nov 2006
Mobile Market Tipped to Expand 27% Annually
Indonesia’s mobile telecommunications market is predicted to expand 27% annually in the next four years, with subscribers estimated to reach 155 million in 2010.Sales director of Nokia Networks Asia Pacific, Ashwini Bakshi, said the country’s mobile telecommunications market is unique because...
Wed, 29 Nov 2006
Krakatau Steel in Talks on $450m Factory
State-owned steel maker, PT Krakatau Steel, said it will hold talks with a Saudi Arabian company on plans to build a $450 million steel factory in South Kalimantan, Antara reported on Wednesday (22/11/06).
Wed, 29 Nov 2006
Indonesia to Invest $88.4m in New Ships
The Transportation Department on Monday (20/11/06) announced a plan to build 48 new pioneer ships worth Rp796 billion ($88.4 million) in five years.The department’s Director General for Sea Transport, H Harijogi, said the country has 52 pioneer ships and needs 48 more in the next five years to...
Wed, 29 Nov 2006
Indonesia Offers 25 Fishing Port Projects
The Maritime and Fishery Department has offered foreign investors the opportunity to build 25 outer-ring fishing ports valued at Rp15 trillion ($1.66 billion), Antara reported on Tuesday (21/11/06).Six of the port projects have been proposed to the National Development Planning Board to be included...
Wed, 29 Nov 2006
RI likely to extend contract on LNG export to Japan
Tokyo (ANTARA News) - President Susilo Bambang Yudhoyono hinted here on Tuesday that Indonesia might agree to extend the contract on Indonesian liquefied natural gas exports to Japan which would expire in 2011.
Wed, 29 Nov 2006
PT Timah sees refined tin output above target
Jakarta (ANTARA News) - PT Timah's output of refined tin this year will be above its target of 38,407 tons because of the increased supply of ore from unconventional miners resulting from the government's action last month against illegal smelters, Timah corporate secretary Prasetyo Budi Saksono...
Wed, 29 Nov 2006
ANIndian motorbike maker to launch two new products in RI in 2006
Jakarta (ANTARA News) - India-based motorcycle producer PT TVS Motor Company will launch two kinds of motorcycle, namely one with a 100-cc engine and another with a 150-cc engine, in Indonesia later this year, a spokesman said here Tuesday.
Wed, 29 Nov 2006
The rich, the poor and the new middle class
ACNielsen's methodology is different, they use household expenditure. There is way, way tooooo much guesswork involved with determining individual income like these guys have tried to do...Indonesia's a funny place in this regard; formal, stated income means next to nothing.
Wed, 29 Nov 2006
The rich, the poor and the new middle class
Do we really understand what life is like for Indonesians in general, who has how much money and what has become of the middle class since the economic crisis of 1997?This report dwells on how much Indonesians are earning and how that defines the boundaries of each socio-economic strata.
Wed, 29 Nov 2006
TVS motorcycles to enter the showrooms in early 2007
TVS Motor Company, India's third largest motorcycle manufacturer, which has just built a plant here, is set to start selling its bikes on the Indonesian market in early 2007."Initial production at our current plant will start in December," TVS president director B.L.P.
Wed, 29 Nov 2006
BRI sets aside Rp 4 trilion for agricultural sector, biofuel l
Urip Hudiono, The Jakarta Post, JakartaState-owned Bank Rakyat Indonesia (BRI) says it is ready to extend up to Rp 4 trillion (US$439 million) in loans to the agricultural sector, including for the development of biofuel plantations across the country.
Wed, 29 Nov 2006
Four foreign banks eye local lenders
The central bank's efforts to shape up Indonesia's banking sector seem to be bearing fruit, with the announcement of the industry's latest series of merger and acquisition plans.Four foreign banks have expressed an interest in acquiring small-sized lenders here, Bank Indonesia Deputy Governor Siti...
Wed, 29 Nov 2006
Local companies look overseas for justice
Despite efforts to improve legal certainty under President Susilo Bambang Yudhoyono's administration, investor trust in the Indonesian legal system remains low.Asrul Sani of the Indonesian Corporate Counsel Association (ICCA) said that given the lack of trust in the local courts and arbitration...
Wed, 29 Nov 2006
Malaysian bank to raise finance for Indonesian power station
Kuala Lumpur (ANTARA News) - Malaysian investment bank Affin said Monday it will raise 308 million dollars in financing for the construction of two geothermal power plants on the island of Java in Indonesia.
Wed, 29 Nov 2006
Malaysia's Genting unit discovers oil in Indonesia
Kuala Lumpur (ANTARA News) - Genting Bhd said its subsidiary Genting Oil Natuna Pte Ltd (GONPL) has discovered oil in its two offshore exploration wells in Indonesia, named Ande Ande Lumut 2X-R and Ande Ande Lumut 3X.
Tue, 28 Nov 2006
Former TNI chief might take top Pertamina post
Former Indonesian Military Chief Gen. (ret.) Endriartono Sutarto could be appointed as president of Indonesia’s state-owned oil and gas company PT Pertamina, according to two sources in Jakarta, replacing incumbent President Ari H. Soemarno, who took over the spot in March.
Tue, 28 Nov 2006
Veep orders Pertamina to overcome kerosene supply shortage
Jakarta (ANTARA News) - Vice President Jusuf Kalla ordered state-owned oil company Pertamina here on Monday to immediately overcome its kerosene supply shortage to several parts of the country.The vice president summoned the head of the oil and gas upstream business management board (BPH Migas)...
Tue, 28 Nov 2006
Indonesian cacao exporters facing problem with quality
Medan, North Sumatra (ANTARA News) - National cacao exporters are still facing problem with finding good quality cacao at home amidst increasing demand for good quality cacao in the world market, a cacao exporter said here on Monday.
Tue, 28 Nov 2006
Indonesians Buy Most Apartments in Singapore
TEMPO Interactive, Jakarta: Purchase of apartments in Singapore by Indonesian citizens between 2003 and 2005 continues to rise.In 2003, Indonesians bought as many as 500 apartments in Singapore and in 2004 the number rose to 600.The amount rose again in 2005 to 830 apartments, or an average19.
Tue, 28 Nov 2006
We're very optimistic about the footwear industry here: Adidas
We're very optimistic about the footwear industry here: AdidasUrip Hudiono, The Jakarta Post, JakartaIndonesia's footwear industry appears to be showing signs of recovery, after experiencing a slump since the Asian financial crisis and losing out in competition for export production from other...
Tue, 28 Nov 2006
Japan to pour millions into South Sulawesi development
Japan International Cooperation Agency (JICA), through its community empowerment program (CEP), is preparing a number of development projects valued at US$15 million in South Sulawesi."The South Sulawesi administration and the Japanese government have signed an agreement to carry out development...