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Fri, 15 Dec 2006
Investors Await Stable Indonesian Economy
TEMPO Interactive, Jakarta: George Soros, Director of Soros Fund Management and the Open Society Institute, has said that reason few foreign investors are coming to Indonesia is because of the unstable economy, high corruption rate and lack of transparency.
Fri, 15 Dec 2006
Mobile-8, Bakrie get new licenses
The Jakarta Post, JakartaThe government has granted new licenses to PT Bakrie Telecom and PT Mobile-8 Telecom to provide code-division-multiple-access (CDMA) services throughout the country as part of a shakeup in the allocation of mobile telecommunications frequencies.
Fri, 15 Dec 2006
RI finances to close the year on solid ground
Indonesia's finances are expected to wrap up the year in good shape, with the current account in surplus and the budget deficit ending up within a slightly lower-than-expected range of between 1 and 1.1 percent of gross domestic product.
Fri, 15 Dec 2006
Indonesian economy in 2007 predicted to grow better
Jakarta (ANTARA News) - The Ministry of Finance expressed optimism that the country`s economy in 2007 will grow better than this year`s economy due to an improvement of economic fundamentals starting from the third quarter of 2006, an official said.
Fri, 15 Dec 2006
Indonesia awards 18 new oil and gas contracts via direct offer
Jakarta (ANTARA News) - The Energy and Mineral Resources Ministry said it has awarded 18 new oil and gas contracts to eight consortia and 10 individual contractors, via direct offer.The contractors include the CNOOC-PT Gregori Gas Perkasa consortium, Star Energy Holdings Ltd.
Fri, 15 Dec 2006
Yudhoyono asks PLN not to hesitate to take action
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono has called on PT PLN not to hesitate to take action in its efforts to speed up construction of power plants with a combined capacity of 10,000 MW to overcome power shortages in several parts of the country.
Thu, 14 Dec 2006
Kalimantan-Java Gas Piping Probably Canceled
TEMPO Interactive, Jakarta: There is a large possibility that the government will cancel the plan of piping for gas delivery from Kalimantan to Java.Vice President Jusuf Kalla said since the gas potential in Cepu and other locations on Java was known, Indonesia's gas balance had changed.
Thu, 14 Dec 2006
Indonesia to grab 60,000 jobs in S. Korea
jeez, you catch on quick, chewwy ... Manpower Dept bureaucrats will make a killing with this.
Thu, 14 Dec 2006
Indonesia to grab 60,000 jobs in S. Korea
hmmmm .... government department handling recruitment. So they decided not to use third parties to avoid paying fees! I am guessing the government officials are demanding plenty of fees from the people who register!!
Thu, 14 Dec 2006
Indonesia to become world's largest cocoa producer and exporter
Jakarta (ANTARA News) - Indonesia is ready to become the world`s largest cocoa producer and exporter, Agriculture Minister Anton Apriyantono said here Tuesday."We are determined to make Indonesia the world`s largest cocoa producer and exporter as the country has an abundance of the commodity," he...
Thu, 14 Dec 2006
Indonesia to grab 60,000 jobs in S. Korea
Jakarta (ANTARA News) - Indonesia has a great opportunity to grab around 60,000 jobs offered by the South Korean government in the sectors of industry, manucfacturing, construction, agriculture, fishery and stock breeding.
Wed, 13 Dec 2006
SBY: Corruption is Still Haunting Us
i'll audit you and you can audit me and we'll all audit each other. Everything's gonna be fine
Wed, 13 Dec 2006
SBY: Corruption is Still Haunting Us
TEMPO Interactive, Jakarta: President Susilo Bambang Yudhoyono affirmed that corruption is still haunting Indonesia despite his evaluation that there has been improvement during the last two years. “Quite a high index of corruption perception in 2006 has signaled that corruption is still haunting...
Wed, 13 Dec 2006
Soros meets House Speaker in Jakarta
Jakarta (ANTARA News) - George Soros, a global financier and philanthropist, is currently in Jakarta and met with Indonesian House Speaker Agung Laksono at the Parliament Building here on Tuesday.Soros also held a meeting with members of the Indonesian Parliament`s Caucus for Myanmar when visiting...
Wed, 13 Dec 2006
Soros: Corruption Still Hampers Indonesia's Economics
Originally posted by: KuKuKaChu“When will Indonesia awaken? Indeed, that my friends, is the trillion dollar question...
Wed, 13 Dec 2006
Soros: Corruption Still Hampers Indonesia's Economics
TEMPO Interactive, Jakarta: Billioner George Soros said that the strong corruption practices and the weak law enforcement in Indonesia have been the main cause of low economic growth.“East and South Asia have grown rapidly, but Indonesia does not participate in it,” Soros told Tempo in a...
Wed, 13 Dec 2006
Bumi Suspected of Committing Insider Trading
TEMPO Interactive, Jakarta: The Jakarta Stock Exchange (JSX) is still tracing allegations of insider trading over shares transactions of PT Bumi Resources . The incident occurred prior to cancellation of divestment to three of its subsidiaries: PT Kaltim Prima Coal, PT Arutmin Indonesia, and PT...
Wed, 13 Dec 2006
Foreigners Invade Local Banks
TEMPO Interactive, Jakarta: Foreign banks are more eager to buy banks in Indonesia. Currently Bank Indonesia (BI) has received plans from theCommonwealth Bank (Australia) which will acquire PT Bank Artha Niaga Kentjana and the Bank of India to take over PT Bank Swadesi.
Wed, 13 Dec 2006
Indonesia's Financial Market Hits Record
TEMPO Interactive, Jakarta: The composite stock price index at the Jakarta Stock Exchange during the year has shown a remarkable achievement.From January up until closing trade last week, the index has recorded an increase of 52.69 percent from the level of 1,162.635 on 2 January to 1,775.
Wed, 13 Dec 2006
New Fixed Line Licenses to be Issued in 2007
TEMPO Interactive, Jakarta: The government will issue licenses for providing new fixed telephone lines in the first quarter of 2007.Gatot S. Dewa Broto, spokesperson of the Post and Telecommunication Directorate General at the Information and Communication Department, said the new licenses are...
Wed, 13 Dec 2006
Indonesia to serve as car production, export base: minister
Jakarta (ANTARA News) - Industry Minister Fahmi Idris said Indonesia was expected to serve as a base for the production of export-quality cars to increase the country`s car exports in an effort to offset the gloomy market at home.
Wed, 13 Dec 2006
Govt to complete telecommunication service implementation
Jakarta (ANTARA News) - The government will quickly complete an opportunity to empower telecommunication sector by reopening business opportunity in telecommunication industry following a reform in thetelecommunication sector, an official said.
Wed, 13 Dec 2006
Indonesia, Malaysia agree to cooperate on palm oil development
Padang (ANTARA News) - Some Indonesian and Malaysian palm oil businessmen were reported to have reached an agreement to overcome problems which may hamper palm oil development in the world."The objective of the cooperation is to minimize and if possible, to eliminate all kind of obstacles that may...
Wed, 13 Dec 2006
Commonwealth Bank of Australia plans to buy Bank ANK
<>Jakarta (ANTARA News) - Bank Indonesia deputy governor Siti Fajriah said the Commonwealth Bank of Australia has expressed interest in acquiring Bank Arta Niaga Kencana (Bank ANK)."Commonwealth Bank is planning to acquire 65-70 pct of Bank ANK," Fajriah told reporters on the sidelines of a...
Wed, 13 Dec 2006
Is that a bank account or a lottery ticket?
The penetration of the major financial products in Indonesia today is still very low.We know that only one in five people above the age of 14 have a bank account, any kind of transaction account. Some have more than one account, some have several, in more than one bank.
Wed, 13 Dec 2006
Pertamina launches Biopertamax
Supporting the government's program of promoting alternative energy, state oil and gas firm PT Pertamina launched its first Biopertamax product Monday."This is a continuation of Pertamina's program to promote green energy after the launching of Biodiesel in April and Biopremium in August,"...
Wed, 13 Dec 2006
RI mulls new standards to curb sales of low-quality products
Andi Haswidi, The Jakarta Post, JakartaResponding to the complaints from the electronics industry about the mushrooming of potentially hazardous, low-quality goods, the government is currently preparing the launch of a quality standard to prevent such poor quality goods being sold.
Tue, 12 Dec 2006
Jamsostek May Fund Housing
The government and state-owned labor insurance firm, PT Jamsostek, have agreed to revise the 2005 regulation on the company's investments to allow it to develop more low-cost housing for workers in industrial zones and urban areas.
Tue, 12 Dec 2006
Aquatico Ready to Invest $15m in Water
Singapore-based Aquatico Pte Ltd said on Tuesday (5/12/06) it will invest $15 million in Thames Pam Jaya (TPJ) if the Jakarta administration approves its plan to buy 100% of shares owned by Thames Waters in TPJ.
Tue, 12 Dec 2006
Russian Group Looks at $2b for Telecom Sector
Russian industrial and financial holding Alfa Group plans to invest up to $2 billion in Indonesia's telecommunications sector as well as other sectors, Alfa Bank said in a statement Monday (4/12/06), citing its president Pyotr Aven.
Tue, 12 Dec 2006
Govt. to Give Investors Tax Incentive
From January 1, 2007, Indonesia will give investors in certain industries a tax allowance to attract investment to the country, Investment Coordinating Board (BKPM) chairman, Muhammad Lutfi, said Monday (4/12/06).
Tue, 12 Dec 2006
Indonesia consumer confidence index optimistic in November
Jakarta (ANTARA News) - The consumer confidence index in November showed more consumers were optimistic rather than pessimistic about the economy for the first time since July 2005, a Bank Indonesia survey showed.The index was at 101.6 points in November, up from 98.
Tue, 12 Dec 2006
Overlapping regulations hinder investment in mining sector
The lack of coordination among relevant ministries, which in turn leads to overlapping regulations, is primarily to blame for the country's failure to lure investment in the mining sector over the past few years, an official says.
Tue, 12 Dec 2006
South Korea's SK sees a lot of potential in Indonesia
A high-ranking delegation of South Korea's third largest company SK led by chairman Tae Won Chey visited Indonesia recently to explore new business opportunities in the country.Already engaged in 14 countries with its core business in energy and telecommunications, SK is committed to further...
Fri, 08 Dec 2006
VP declares "Beatiful Bali Indonesia" symbol of tourism promotion
Denpasar (ANTARA News) - Vice President M. Jusuf Kalla has ordered the Culture and Tourism Ministry and tour operators to start using "Beautiful Bali Indonesia" as the symbol of tourism promotion."Let`s start using "Beautiful Bali Indonesia" as our motto in tourism," the vice president said in a...
Fri, 08 Dec 2006
Govt believes foreign investment will revive in 2007
Jakarta (ANTARA News) - Indonesian Trade Minister Mari Elka Pangestu said here on Thursday she predicted that foreign investment in Indonesia would recover next year following improvement in the country`s investment climate and economic cooperation agreements with various countries.
Fri, 08 Dec 2006
VP: Indonesia to be world's biggest palm oil producer in 2008
Denpasar, Bali (ANTARA News) - Vice President M. Jusuf Kalla predicted on Thursday Indonesia will overtake Malaysia as the world`s biggest palm oil producer in 2008."In 2008, our palm oil production should be number one," Kalla said when opening a national seminar on oil palm here.
Fri, 08 Dec 2006
New resort worth US$6.58 bln to be built in Indonesia
Jakarta (ANTARA News/Asia Pulse) - Foreign investors are set to build resort projects with supporting facilities in Lagoi, North Bintan island in the province of Riau Islands worth Rp59.28 trillion (US$6.58 billion).
Fri, 08 Dec 2006
Local autonomy putting budget under strain, say officials
The implementation of regional autonomy and the creation of new regions has led to dramatically increased demands for funding on the central government's annual budget, an official says.Since the enactment of the 2001 Regional Autonomy Law, seven new provinces, 114 new regencies and 27 new...
Thu, 07 Dec 2006
Sutarto to be Pertamina’s Chairman
TEMPO Interactive, Jakarta: The President appointed former Indonesian Military (TNI) Commander Gen. TNI (retired) Endriartono Sutarto to be PT Pertamina’s Chairman of Board of Commissioners.At the same time, two new board of commissioner members were promoted, Irnanda from the State Enterprise...
Thu, 07 Dec 2006
'Corruption Eradication Hampering Economy'
TEMPO Interactive, Jakarta: Vice President Jusuf Kalla said that corruption eradication which is under the Corruption Eradication Committee (KPK) has created anxiety upon state officials in taking decisions. As a result, it obstructs the economy.
Thu, 07 Dec 2006
SKF expands production capacity
JAKARTA: PT SKF Indonesia, a motorcycle spare parts manufacturer, has expanded its production capacity to boost revenue in a move that will create 160 new jobs.The company's production area has been increased from 8,000 square meters to 20,000 square meters, SKF Indonesia's president director, Ilpo...
Thu, 07 Dec 2006
Genting discovers oil in Natuna
Malaysian-based Genting Oil and Gas Pte. Ltd. has found new oil deposits at two exploration wells in the offshore Northwest Natuna field, an official said Tuesday, while highlighting that the block still contained good prospects for further oil exploration.
Thu, 07 Dec 2006
Govt moves to help out debt-strapped water firm
The Jakarta Post, JakartaThe Finance Ministry will restructure debt of close to Rp 4 trillion (around US$440 million) owed by 176 local-government water utilities so that they can focus more on improving their services.
Thu, 07 Dec 2006
Realized investment continues to drop
Despite all the efforts to improve the investment climate, little seems to have changed in terms of results, with the figures for actual investment in Indonesia continuing to fall.Realized overseas investment for the eleven months ending Nov. 30 consisted of 801 projects worth US$4.
Thu, 07 Dec 2006
Pertamina, Korean SK JV build oil baase plant
Jakarta (ANTARA News) - State-owned oil and gas company PT Pertamina and SK Corp have set up a joint venture company, Patra SK, to construct an oil base plant here in January next year, Pertamina president Ari Soemarno said.He said construction of the plant is estimated to cost 200 mln usd.
Thu, 07 Dec 2006
Indonesian cellphone cos to spend US$4 bln
Jakarta (ANTARA News/Asia Pulse) - Nine cellular operators in Indonesia are projected to spend almost US$4 billion in 2007 mainly to expand their coverage in the country.The number of cellular phone subscribers is predicted to rise 25 per cent-30 per cent or28.
Wed, 06 Dec 2006
RI offers 15 sectors for S Korea investment
Jakarta (ANTARA News) - Indonesia offered 15 sectors for investment to around 70 South Korean businessmen attending the 13th meeting of the Indonesia-South Korea Joint Committee for Economic Cooperation here on Monday.
Wed, 06 Dec 2006
Indonesia has 19 billion ton coal deposits
Most of which is being torn from the heart of Papua, and not one penny will go to any Papuans.