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Tue, 28 Nov 2006
Essar may invest $500m in Kalimantan
PT Essar Indonesia, a local affiliate of India-based conglomerate Essar Group, will build a pellet factory at a cost of US$500 million on Kalimantan island to strengthen its presence in the country's steel industry, an official says.
Tue, 28 Nov 2006
Lower rate may spur lending growth
With the interest rate's downward trend, Indonesia's major banks will have more room next year to expand their lending, which has been fairly low for the past two years.Banking analysts have estimated that the easing of inflation will allow central bank Bank Indonesia to further lower its key rate...
Tue, 28 Nov 2006
Malaysia's plantations merger to boost country's palm oil
Kuala Lumpur (ANTARA News) - A merger of three Malaysian plantation conglomerates will create the world's largest listed palm oil estate, and boost the country's status as a palm oil producer amid growing regional competition, analysts said.
Sun, 26 Nov 2006
RI, Japan to open markets to each other
Jakarta (ANTARA News) - Indonesia and Japan will open their markets to each other by cutting import duties on 90 percent of their tariff posts after they have signed an Economic Partnership Agreement (EPA), an Indonesian cabinet minister said.
Sun, 26 Nov 2006
Malaysia's plantations merger to boost country
Kuala Lumpur (ANTARA News) - A merger of three Malaysian plantation conglomerates will create the world's largest listed palm oil estate, and boost the country's status as a palm oil producer amid growing regional competition, analysts said.
Sun, 26 Nov 2006
ASEAN leaders to speed up economic integration
Manila (ANTARA News) - Southeast Asian leaders are to advance to 2015 the target date for integrating the region's vast economies into a single European Union-style market, a draft declaration obtained by AFP showed.
Sun, 26 Nov 2006
BI Optimistic on Rupiah's Improvement
That's not good for my business.... the lower the better!
Sat, 25 Nov 2006
ADB to assist Indonesia with US$428 mln for infrastructure
Manila (ANTARA News/Asia Pulse) - The Asian Development Bank will assist Indonesia in implementing vital reforms to develop its infrastructure and boost economic growth.The Manila-based multilateral lender is to help the country improve its policies, laws and institutions to lure large scale...
Sat, 25 Nov 2006
Brokers worried about current unfair competition
Jakarta (ANTARA News) - Property brokers expressed concern over the unfair competition here on Friday and called on the government to immediately improve the situation."We wish the government would immediately issue a certification regulation which applies to property brokers in the country,"...
Sat, 25 Nov 2006
BI Optimistic on Rupiah's Improvement
TEMPO Interactive, Jakarta: Bank Indonesia (BI) is optimistic that the rupiah exchange rate will improve and be stable next year at the level of between 9,000 and 9,200 per US dollar. “The rupiah will be stable at this range.
Sat, 25 Nov 2006
Import Duty of Malaysian Cars Decrease
TEMPO Interactive, Jakarta: The government has decreased import duty of Malaysian automotive products. The duty of a completely built up (CBU) car is decreased from 20 percent to five percent. However, the government did not decrease completely knock-down (KCD) car. It remains 0 percent.
Sat, 25 Nov 2006
Blackout to Last a Long Time
TEMPO Interactive, Jakarta: The blackout in the Java and Bali electrical systems which has been happening in shifts possibly will continue due to the explosion of a gas pipe belonging to PT Pertamina under the mud dike on the southern side of Porong-Gempol, Sidoarjo, East Java toll road.
Sat, 25 Nov 2006
ADB moves to help RI's reform program
The Asian Development Bank (ADB) will provide US$428 million in loans to support Indonesia in its efforts to implement the critical reforms needed to develop its infrastructure and spur economic growth.
Sat, 25 Nov 2006
Indonesia earns $110 mln from tea exports
Denpasar, Bali (ANTARA News) - Indonesia`s tea exports earn US$110 million in foreign exchange annually and contribute Rp1.2 trillion to the gross domestic product (GDP)."Indonesia is the world's fifth biggest exporting country of tea.
Sat, 25 Nov 2006
BRR Preparing foreign investment in Aceh
they're dreaming. nobody is going to seriously invest in Aceh until the problems there are well and truly sorted out, in particular large capital projects.
Sat, 25 Nov 2006
BRR Preparing foreign investment in Aceh
Are they going to eliminate the practise of Sharia law first? I mean Aceh is hardly Oil Rich Saudi where it is possible to put up with Sharia Law due to the high returns....
Sat, 25 Nov 2006
End-of-Year Inflation May Be Under 6 Percent
TEMPO Interactive, Jakarta: Bank Indonesia (BI) has estimated that the inflation rate by the end of the year will be under six percent, which is better than the target of seven plus minus one percent.“It can be under six percent if inflation in November and December of this year follows the...
Sat, 25 Nov 2006
BRR Preparing foreign investment in Aceh
Banda Aceh, NAD (ANTARA News) - The Aceh-Nias Rehabilitation and Reconstruction Agency (BRR) has started preparing an Investor Outreach Office (IOO) in a bid to facilitate foreign investors to come to Aceh, a spokesman said.
Fri, 24 Nov 2006
Macquarie to finance Indonesian toll road project
ho hum, you say. aussie bank invests in indonesian toll roads. but wait: the very same day, they announce a major move into a gambling cash cow in Europe ... which means, of course, that indoensian toll roads will be at least partly financed from the proceeds of gambling!!will this mean that these...
Fri, 24 Nov 2006
Economy to grow at least 6% in 2007, say ANZ, StanChart
The economy is expected to expand by 6 percent next year on the back of continued strong consumption and exports of selected commodities, economists say.Rising domestic demand will keep consumption robust, backed by declining inflation and interest rates -- the main ingredients for spurring...
Fri, 24 Nov 2006
No investment without big changes: U.S. envoy
As long as Indonesia is unable to fix its corrupt bureaucratic and legal system, the country will find it difficult to attract foreign investment from the U.S. or other countries, the U.S. envoy here says.Ambassador B. Lynn Pascoe said in Jakarta on Wednesday that the meeting between U.S.
Fri, 24 Nov 2006
Banking sector problems could undermine macro recovery: BI
The central bank sees Indonesia's economy picking up further next year as both inflation and interest rates continue their downward trend, but warned that problems in the banking sector could undermine all the recent gains in macroeconomic stability.
Fri, 24 Nov 2006
Macquarie to finance Indonesian toll road project
Jakarta (ANTARA News/Asia Pulse) - Australia's Macquarie Group has agreed to provide a Rp6.6 trillion (US$733 million) loan to build the Solo-Ngawi-Kertosono toll road project.Head of Toll Road Regulatory Body (BPJT) Hisnu Pawenang said Macquarie may provide a long term loan with guarantee in the...
Fri, 24 Nov 2006
economy to grow by 6% as real estate sector revives
Jakarta (ANTARA News/Asia Pulse) - Indonesia's macro economy is likely to expand by six per cent in 2007, with the real estate sector showing signs of a revival and the nation's banks recording increases in lending, an observer said on Tuesday.
Fri, 24 Nov 2006
Exedy Corp enters Indonesia
Automotive component producer Exedy Corporation, Japan, enters Indonesia with its plan to invest USD13 million to build motorcycle component manufacturing facility in Pulogadung, Jakarta.Exedy Corporation (Japan) and Exedy Globalparts Corporation (USA) have established PT Exedy Motorcycle Indonesia...
Thu, 23 Nov 2006
Recovery underway, but more than just GDP matters
Recovery underway, but more than just GDP mattersHelmi Arman, JakartaThe third quarter national accounts show a slow but steady improvement in gross domestic product growth. However, to avoid overlooking important but somewhat obscure issues, analysis needs to be conducted over a longer time frame...
Thu, 23 Nov 2006
'Indonesia must find its own strengths in ICT field'
When President Susilo Bambang Yudhoyono attended the APEC Summit Meeting in Chile in late 2004, Craig Mundie, currently Microsoft's chief research and strategy officer, happened to be the person to whom it fell to introduce the President to the forum.
Thu, 23 Nov 2006
House to formulate draft bill on capital investment
Jakarta (ANTARA News) - The House of Representatives (DPR) will formulate the draft bill on capital investment to provide legal embralla to foreign investors wishing to put their capital in Indonesia."We actually want a profound discussion and approval of the draft bill in order to make it as one...
Thu, 23 Nov 2006
Economy to grow by 6 pct as real sector begins to move
Jakarta (ANTARA News) - The macro economy of Indonesia was predicted to grow by six percent in 2007 as the real sector had begun to move and the national banks have actively distributed credits to customers, an observer said.
Wed, 22 Nov 2006
Revitalizing real sector the main challenge: Indef
While the economy is expanding at a descent clip, the growth achieved to date has done little to help mitigate poverty as most of it has taken place in non-labor intensive sectors, an economic think tank says.
Wed, 22 Nov 2006
Bush visit to boost investors confidence in Indonesia: econom
Jakarta (ANTARA News) - US President George Walker Bush`s visit to Indonesia could increase foreign investors` confidence in Indonesia, economist Umar Juoro said."Bush`s visit could make foreign investors -- those intending to come here and those who already operate in the country -- more confident...
Wed, 22 Nov 2006
Indonesia GDP could grow by 7.0 pct in 2007 if infrastructure
Jakarta (ANTARA News) - GDP could grow 7 pct next year if the government speeds up infrastructure projects, Bank Internasional Indonesia's chief economist Ferry Latuhihin said."There is a chance for the economy to grow 7 pct next year, if the government accelerates the development of infrastructure...
Wed, 22 Nov 2006
Japan to accept Indonesian nurses, hotel trainees under econo
Tokyo (ANTARA News) - Japan will accept nurses, care workers and hotel trainees from Indonesia under a bilateral economic partnership agreement in the final stages of talks, the Nihon Keizai Shimbun reported, without citing sources.
Wed, 22 Nov 2006
Indonesia, US to cooperate in biofuel development - Yudhoyo
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono said the Indonesian and the US governments have agreed to cooperate in the development of biofuel to enable the two countries to become less dependent on oil."On energy, we (Indonesia and US) are going to cooperate in biofuel development.
Wed, 22 Nov 2006
Market Eyeing Bakrie Group Shares
TEMPO Interactive, Jakarta: Capital market analysts have predicted that investors will be focusing on Bakrie group's shares after PT Energi Mega Persada Tbk controversially sold Lapindo Brantas Inc to a foreign investor.
Wed, 22 Nov 2006
Excise Duty Rise Triggers Illegal Cigarettes
TEMPO Interactive, Jakarta: Ismanu Soemiran, Head of the Association of Indonesian Cigarette Producers, is of the opinion that cigarette excise duty rise to Rp10 per cigarette starting January 2007 will create financial losses for the state.
Tue, 21 Nov 2006
Govt lifts import duty, coal export tax
To attract investors to put their money in the country's vast energy resources, the Finance Ministry has lifted import duties on goods and equipment for oil and gas exploration and production as well as export tax on coal products.
Tue, 21 Nov 2006
Indian Oil Set to Join Retail Business
The Indian Oil Corp is set to enter the petroleum retailing business in Indonesia. The government-owned company plans to set up retail outlets in the country through a wholly owned subsidiary. The Indian Oil board in its next board meeting later this month is expected to approve the formation of...
Tue, 21 Nov 2006
Nuclear Plans to Go Ahead
Indonesia is pressing ahead with plans to construct nuclear power plants, Kyodo News reported on Thursday (16/11/06).“A technology and economic study has been done and we have come to a conclusion that these nuclear power plants are very viable for Indonesia,” Research and Technology Minister...
Tue, 21 Nov 2006
Indosat to Roll Out 3G Service
Indonesia's second largest mobile phone operator, PT Indosat, is aiming to launch its third-generation (3G) services by the end of the month, a senior company official said on Thursday (16/11/06).Two of Indosat's rivals, market leader PT Telkomsel and number three player PT Excelcomindo Pratama,...
Tue, 21 Nov 2006
Telkom: No Swift Impact from Competition
An influx of new foreign-backed competitors will not have an impact on PT Telkom's bottom line until 2008, a senior company executive said Tuesday (14/11/06).The massive infrastructure investment needed to allow new telecommunications firms to compete adequately in Indonesia will delay any impact...
Tue, 21 Nov 2006
FDI Approvals Higher
Approvals for foreign direct investment (FDI) rose 18% to $13.21 billion during the January to October period from the same period a year ago, a release from the state investment agency (BKPM) said on Tuesday (14/11/06).Domestic direct investment approvals more than tripled to Rp143.67 trillion.
Tue, 21 Nov 2006
Growth Rate Starts to Rise
Gross domestic product grew 3.49% in the third quarter from the second quarter, faster than expected, as the World Bank said in a report that the economy was in position to boost growth to between 6% and 6.5% next year. Compared with a year earlier, GDP grew 5.
Mon, 20 Nov 2006
Bush expected to help boost RI's biofuel development program
Jakarta (ANTARA News) - Indonesia`s preparations to develop biofuel will seemingly get a further boost when President Susilo Bambang Yudhoyono and US President Geoerge W Bush meet in Bogor, West Java, on Monday.
Mon, 20 Nov 2006
US$1.1b PGN pipeline expected to come onstream next month
President Susilo Bambang Yudhoyono has been drafted in to inaugurate a US$1.1 billion pipeline linking South Sumatra and West Java some time before the end of this year.The pipeline, which will be operated by state-owned gas distributor PT Perusahaan Gas Negara (PGN), will supply between 300...
Mon, 20 Nov 2006
Indonesia imposes zero tax on imported goods for upstream oil
Jakarta (ANTARA News) - The government has decided to impose zero tax on imported goods for upstream oil and gas projects in a bid to attract fresh investment into the sector, the Ministry of Finance said in a statement.
Mon, 20 Nov 2006
President talks with Singapore PM on special economic zone
Hanoi (ANTARA News) - Indonesian President Susilo Bambang Yudhoyono and Singaporean Prime Minister Lee Hsien Loong met on the sidelines of the Asia Pacific Ecconomic Cooperation (APEC) forum here on Saturday to discuss matters relating to the Special Economic Zone (SEZ) covering Batam, Karimun and...
Sun, 19 Nov 2006
`Government not serious' about inviting investors to regions
"The government has been slow to respond to the desire of investors to put their money into the provinces," claims a deputy speaker of the Regional Representatives Council (DPD)."The central government is just playing around.
Sat, 18 Nov 2006
Consumer spending drives GDP increase
Indonesia's economy appears to be on track again, growing by 5.52 percent in the third quarter ended Sept. 30 from the same period a year earlier on a revival in consumer spending and strong commodity exports, the Central Statistics Agency (BPS) reported Thursday.This is higher than the revised 5.
Sat, 18 Nov 2006
S'pore shipbuilders relocating to Batam
Fadli, The Jakarta Post, BatamWith Singapore restricting the growth of its shipbuilding industry due in part to environmental reasons, Batam and Karimun islands are taking advantage by attracting increasing numbers of shipbuilders from the neighboring country.