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Sat, 18 Nov 2006
Growing commercial activity to up demand for office space
Growing commercial activity resulting from the overall improvement in the economy appears set to spur demand for office space in Jakarta.In its latest report, Jones Lang LaSalle says the demand for office space is expected to grow in line with increasing activity in such sectors as oil and gas,...
Sat, 18 Nov 2006
Lack of land and incentives hamper biofuel investment
Amid an ambitious government plan to develop the bioenergy sector, a lack of land for growing oil-producing crops and limited fiscal incentives pose significant obstacles to progress, a business group says.
Sat, 18 Nov 2006
Indonesian 3rd quarter GDP disappoints as consumption flat
Jakarta (ANTARA News) - Third quarter GDP growth was slightly below estimate partly because growth in private consumption, the largest component of the economy, remained flat, said Lim Su Sian, an economist with Singapore-based DBS.
Sat, 18 Nov 2006
Foreign investment in Indonesian property remains relatively
Jakarta (ANTARA News) - New investment in Indonesia's property market is still dominated by local investors, with foreign interest remaining relatively small, Jones Lang LaSalle said in its Q3 property market report.
Fri, 17 Nov 2006
Indonesia 3rd quarter GDP grows 5.52 pct
Jakarta (ANTARA News) - Indonesia's gross domestic product grew 3.49 pct in the third quarter compared to the previous three months and was up 5.52 pct year-on-year, said Central Bureau of Statistics chief Rusman Heriawan.The figures met market expectations.
Fri, 17 Nov 2006
Decline in foreign investment due to "bad luck"
Jakarta (ANTARA News) - The decline in realized foreign invstment projects in the January-October 2006 period by 47.6 percent compared to a corresponding period last year was more caused by "bad luck" than anything else, presidential spokesman Dino Patti Djalal said here Thursday"There has indeed...
Fri, 17 Nov 2006
Pertamina & McKinsey scandal
In the last few weeks, Koran Tempo consistently run the story about ellegation that state-owned oil and gas company PT Pertamina appointed US consulting firm McKinsey without proper tender. Pertamina agrees to pay around US$15 million to McKinsey as consultant for transformation program.
Fri, 17 Nov 2006
Medan to have new international airport
Multa Fidrus, The Jakarta Post, TangerangState airports operator PT Angkasa Pura II is set to build a new Rp 3.3 trillion (about US$300 million) international airport at Kualanamu, about 24 kilometer northeast of Medan, North Sumatra, to replace the severely congested Medan Polonia airport.
Fri, 17 Nov 2006
Lenovo ups competition in local PC market
Armed with a new marketing strategy, China-based computer manufacturer Lenovo launched its first consumer-oriented products in Indonesia on Wednesday to tap into the country's growing personal-computer market.
Fri, 17 Nov 2006
McKinsey Appointed Without Tender
TEMPO Interactive, Jakarta: Ari Sumarno, PT Pertamina Managing Director, has acknowledged the appointment of the consultant McKinsey for the transformation program was carried out without tender.The pattern of consultant appointment was by a 'beauty contest'.
Fri, 17 Nov 2006
Gas Company Targeting 2 Million Customers
TEMPO Interactive, Jakarta: PT Perusahaan Gas Negara Tbk (the State Gas Company) is targeting to gain two million customers by 2010.Managing Director of the company W.M.P. Simandjuntak has said that in order to reach this target, the company requires capital expenditures of around US$1 billion or...
Thu, 16 Nov 2006
Batam full, shipyards turning to Karimun
Batam (ANTARA News) - Some 33 shipyards grouped in the Batam Shipyard Offshore Association (BSOA) have started turning to Karimun islands for their new investment as Batam has already become too full of business activities.
Thu, 16 Nov 2006
15 Business Sectors to Get Tax Incentives
TEMPO Interactive, Jakarta: The government has decided to give tax incentives to 15 business sectors by the beginning of next year.The tax relief can be realized because the government has finished revisions of the Governmental Regulation Number 148/2000 concerning Facilities of Income Tax for...
Thu, 16 Nov 2006
World Bank Asks for Continuation of Direct Subsidy
TEMPO Interactive, Jakarta: The World Bank has asked that the government not to stop its direct cash subsidy (SLT) program as compensation for the fuel price rises.The reason for this is that the program is considered as being capable of neutralizing the impact of the price rises.
Thu, 16 Nov 2006
Singapore Still Reluctant About Handling Money Laundering
TEMPO Interactive, Jakarta: Indonesia is finding it difficult to cooperate with Singapore in handling money laundering.Yunus Husein, Head of the Center of Report and Analyzes of Financial Transaction (PPATK), said that Indonesia has twice proposed the signing of a memorandum of understanding about...
Thu, 16 Nov 2006
Sluggish US Economy Threatens Indonesia
TEMPO Interactive, Jakarta: It is predicted that the United States’ economic growth will be sluggish next year and this will influence Asian economies, including Indonesia’s.“Directly or indirectly, US economic growth influences Indonesia,” said Ian Morris, HSBC’s senior US economist,...
Thu, 16 Nov 2006
World Bank forecasts stronger growth for RI
Indonesia's economy will not only weather the expected global slowdown next year, but will expand by 6.2 percent, the fastest growth rate for 10 years, says the World Bank's latest economic assessment on the country and other Asian nations.
Thu, 16 Nov 2006
Telkomsel expects to win 7 mln new subscribers in 2007
Jakarta (ANTARA News) - Indonesian mobile phone service provider PT Telkomsel, a subsidiary of state-owned telecom firm Telkom, expects to gain seven million new customers next year, the company president said Tuesday.
Thu, 16 Nov 2006
Bali unveils Aussie tourism ad
From correspondents in LombokNovember 14, 2006 06:41pmArticle from: AAPBALINESE tour operators have turned the tables on Australia with a new internet ad demanding to know: "Aussie, where the Bali are ya?!".
Thu, 16 Nov 2006
Nuclear Generating Plant to be Built at Ujung Lemah Abang
TEMPO Interactive, Jakarta: The government has set Ujung Lemah Abang, Murian Peninsula, Central Java, as the location for constructing a nuclear-based electric generating plant. The tender will be offered in 2008 and construction will be carried out in 2011.
Thu, 16 Nov 2006
Bapepam Not Mixed Up with Medco Affairs
TEMPO Interactive, Jakarta: The Capital Market Supervisory Agency (Bapepam) has affirmed that the step of PT Medco International in taking the Lapindo mudflow case to international arbitration was the bilateral problem between the company and Lapindo Brantas Inc.
Thu, 16 Nov 2006
Software firms upbeat amid intensified fight against piracy
Asking Indra Sosrodjojo, a director of local software company Andal, about business last year only elicited a shrug and the comment, "It's not going anywhere."However, he seemed much happier replying to the same question Monday, "In the future, I see a very significant role for SMEs as market...
Thu, 16 Nov 2006
Banker predicts Indonesia's economy continue grow in 2007
Jakarta (ANTARA News) - A banker has predicted that Indonesia`s economy would continue to grow in 2007 following the lowering six times of Bank Indonesia`s reference rate by 250 base points and the active expansion of banking credits to customers.
Wed, 15 Nov 2006
West Nusa Tenggara Governor Asks for Royalties
TEMPO Interactive, MAtaram: The West Nusa Tenggara Governor Lalu Serinata asked PT Newmont Nusa Tenggara to add on the royalties for the province because what is deposited so far is only two percent as stated in the working contract.
Wed, 15 Nov 2006
U.S. Investors Ask for Law Enforcement
TEMPO Interactive, Jakarta: A group of US investors have requested that the Indonesian government be consistent in such matters as law enforcement and policy system transparency. Both issues are viewed as obstacles for US investment in Indonesia.
Wed, 15 Nov 2006
Software firms upbeat amid intensified fight against piracy
Asking Indra Sosrodjojo, a director of local software company Andal, about business last year only elicited a shrug and the comment, "It's not going anywhere."However, he seemed much happier replying to the same question Monday, "In the future, I see a very significant role for SMEs as market...
Wed, 15 Nov 2006
New IT council plans an information-based society
President Susilo Bambang Yudhoyono launched the National Information and Communication Technology Council on Monday in an ambitious bid to turn Indonesia into an information-based society by 2025.The council, directly under the President, will draw up a blueprint for the development of information...
Wed, 15 Nov 2006
The beliefs and values of Indonesians today
Change is not particularly welcome, regardless of sex or level of education, in Indonesia. About four out of five people believe that there is "too much change going on these days".The same number are "environmentalists at heart", with more than half the population trying to "recycle everything I...
Wed, 15 Nov 2006
Time for U.S. business to recognize RI potential
Andi Haswidi, The Jakarta Post, JakartaHaving been informed by the Indonesian government of the progress made to date, U.S. Chamber of Commerce president Thomas J. Donohue said that now was the time for U.S. businesses to fully recognize Indonesia's commercial potential.
Wed, 15 Nov 2006
Economy starts recovery in 3rd quarter on supportive policies
Jakarta (ANTARA News) - Indonesia's economy began to recover in the third quarter following a sluggish performance in the first half ,as supportive fiscal and monetary policies aided growth, the World Bank said in a new report on the country.
Tue, 14 Nov 2006
RI`s rubber output to decline by 2% next year
0.26 million tons for domestic use. Thats a buch of condoms.....
Tue, 14 Nov 2006
State Bank Holding Company May Be Set Up
TEMPO Interactive, Jakarta: There is a possibility that the government will set up a new company to be called the Indonesia Bank Holding Company, that will manage the activities of all currently existing state banks.
Tue, 14 Nov 2006
US Chamber suggests RI reform investment, tax regulations
Jakarta (ANTARA News) - Indonesia needs to reform its regulations on investment and taxation as well as promote liberalization in the manpower sector to lure foreign investors including those from the US, a US buisnesman said.
Tue, 14 Nov 2006
RI`s rubber output to decline by 2% next year
Jakarta (ANTARA News) - The Indonesian Rubber Producers Association (Gapkindo) has predicted that the country`s rubber output in 2007 will drop by 2 to 3 percent from a year earlier because of the high precipitation in the December 2006-February 2007 period.
Tue, 14 Nov 2006
Chinese company offers to cooperate with Badung district
Denpasar (ANTARA News) - A Chinese company in Guangzhou, Dong Fang International Travel Service Co. Ltd , has offered to cooperate in tourism promotion with Badung district in the Indonesian island resort of Bali, a local official said.
Tue, 14 Nov 2006
Riau Islands eyes share in Natuna's oil, gas fields
The local government of the Riau Islands province plans to ask for ownership in oil and gas fields being developed in its Natuna Sea area, amid ongoing contract negotiations for the D-Alpha block.Besides the particular gas-rich block, the contract for which the Indonesian government had recently...
Tue, 14 Nov 2006
Pertamina May Get Subsidized Supply Rights
Downstream oil and gas regulator, BPH Migas may give state oil firm PT Pertamina exclusive rights to supply and distribute subsidized oil products in 2007 as private firms do not have the necessary network, its chief said Tuesday (7/11/06).
Tue, 14 Nov 2006
Investors Sought for Bontang Coal Plant
Indonesia is seeking investors to build a plant to supply coal steam to the Bontang liquefied natural gas (LNG) facility that uses natural gas to generate electricity, Mines and Energy Minister Purnomo Yusgiantoro said on Thursday (9/11/06).
Tue, 14 Nov 2006
Adhi Karya Eyes 65% Profit Rise in 2007
State construction company PT Adhi Karya expects to post a 65% increase in its net profit next year as the company will sign more projects, president director Saiful Iman said Wednesday (8/11/06).Adhi Karya's net profit is likely to reach Rp150 billion ($16.
Tue, 14 Nov 2006
Jasa Marga Delays IPO to Early 2007
State-owned toll road firm PT Jasa Marga said it has postponed a planned Rp2 trillion ($219.6 million) initial public offering to the first quarter of 2007.The firm said in September it planned to list 15% of its shares on the Jakarta Stock Exchange in November to raise funds to finance the...
Tue, 14 Nov 2006
BKPM to Adopt New Statistical System
The Investment Coordinating Board (BKPM) is planning to revamp the way it records the flow of investment into the country so as to better reflect what is actually happening."The current system is inaccurate," BKPM chief, M Luthfi said Monday (6/11/06), according to The Jakarta Post.
Tue, 14 Nov 2006
Jakarta Paves the Way on Works Projects
Indonesia’s efforts to get delayed infrastructure projects off the ground inched forward as foreign and local investors at the recent infrastructure conference were encouraged by a government pledge to offer financial backing for private investors in state-sponsored ventures, The Wall Street...
Tue, 14 Nov 2006
Consumer Confidence Index at 14-Month High
The consumer confidence index rose to 98.1 points in October, its highest mark in 14 months, up from 96.1 points in September, a central bank survey showed Wednesday (8/11/06), according to Agence France-Presse.
Tue, 14 Nov 2006
Share Market Booms
The Jakarta Stock Exchange continues to hit new highs, with the composite index hitting a new record on Friday (10/11/06) after Bank Indonesia (BI) dropped its key rate by 50 points to 10.25%.The composite index rose to 1,673.125 before falling off to close at 1,664.837.
Mon, 13 Nov 2006
West Java needs supports to convince investors
Bandung, West Java (ANTARA News) - The West Java provincial administration was in need of supports from all stake holders to attract both domestic and foreign investors to sink their capital in the province, a local official has said.
Mon, 13 Nov 2006
Indonesian market to continue positive trend
Jakarta (ANTARA News) - The Indonesian stock market is likely to maintain its upward trend, despite possible corrections due to overbuying, an analyst said ovber the weekend."Technically, it's possible for the index to continue its rise next week because the trend has been on the increase since...
Sun, 12 Nov 2006
VEEP: nation can't become strong without businessmen
Quote:"A good governor or mayor/district head is the one who is reluctant to extort businessmen, reluctant?!is this really what he said, or is it Antara's hopeless translators?
Sun, 12 Nov 2006
Tourists spend most on sleeping and eating
The Jakarta Post, JakartaDespite coming thousands of kilometers to visit Indonesia, foreign visitors spend most of their money here on the rather mundane activities of sleeping and eating, a survey has found.
Sun, 12 Nov 2006
VEEP: nation can't become strong without businessmen
Makassar (ANTARA News) - It was impossible for a nation in the world to become strong without an active role of businessmen in building that nation, Vice President M Jusuf Kalla said.Speaking on the occasion of opening the 8th Makassar Bugisenese Businessmen Meeting here on Saturday, the officials...
Sun, 12 Nov 2006
Social impact of plan to industrialize Madura
Surabaya, Nov 11 (ANTARA) - A Madurese politician, Farid Alfauzi, has called on the government to give Madura religious and community leaders transparent explanations about the social impact of its plan to develop Madura island into an industrial hub.