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Fri, 20 Apr 2007
Local lenders living on borrowed time, warns BI
Indonesia's banks may lose out to their regional competitors when the free trade and services agreement among Southeast Asian nations is fully implemented in 2015.Syamsul Arifin of Bank Indonesia's international affairs unit said Thursday that most of the country's banks were still far from being...
Thu, 19 Apr 2007
Aceh province moves to exploit natural-resource potential
Aceh is a province that is blessed by abundant natural resources and wealth that have long lain undeveloped due to a 32-year insurgency that only recently came to an end.Now, in a new era of peace and development after the long years of civil unrest and the 2004 tsunami disaster, the opportunities...
Thu, 19 Apr 2007
Indonesians still prefer wet markets, survey shows
Living the life as a devoted mother/wife and a full-time career woman, 52-year-old Sri Widyawati refuses to be categorized as one of today's modern working moms -- when it comes to shopping, she always prefers to do it the traditional way!"I insist on buying fresh food every day from the itinerant...
Thu, 19 Apr 2007
NGOs to seek court review of Investment Law
A legal aid institution and a number of non-governmental organizations are to challenge the constitutionality of the recently enacted Investment Law, which they claim will prejudice the interests of the people."We will ask the Constitutional Court to review five articles of the neo-liberal Law No.
Thu, 19 Apr 2007
Riau Islands economic zone to be realized soon: Yudhoyono
JAKARTA (JP): The government will speed up the realization of Exclusive Economic Zones in three islands -- Batam, Bintan and Karimun -- in the Riau Islands province, said provincial governor Ismeth Abdullah Tuesday.
Tue, 17 Apr 2007
Customs & Excise Director General Denies Blocking 6,000 Importers
TEMPO Interactive, Jakarta: Director General of Customs and Excises at the Finance Department, Anwar Suprijadi, denies that he has blocked activities and licenses of 6,000 importers who have violated the excise law and haven’t been active for a year.
Tue, 17 Apr 2007
Three state plantation firms to build biodiesel plant
Medan, N Sumatra (ANTARA News) - Three state plantation firms will cooperate in building a biodiesel plant with a capacity of 300,000 tons per year, a spokesman said."The three state firms will begin construction of the joint biodiesel plant in 2008 and the plant is expected to start operating in...
Tue, 17 Apr 2007
PT Wika, Pertamina to set up biodiesel plant in S. Sumatra
Palembang, South Sumatra (ANTARA News) - National corporation PT Wijaya Karya (Wika) and PT Pertamina`s Management Unit (UP)-III Plaju are planning to set up a biodiesel industry in South Sumatra, a spokesperson said.
Tue, 17 Apr 2007
Aceh opens new office to attract investors
The Nangroe Aceh Darussalam provincial government has stepped up its efforts to strengthen the region's fragile economy by launching an "Investor Outreach Office" (IOO) on Monday to attract foreign investors.
Mon, 16 Apr 2007
Medco Eyes Cassava in New Ethanol Plant
Indonesia's largest listed energy firm PT Medco Energi Internasional Tbk will start a 180,000 liter per day ethanol plant later this year, using cassava as a feedstock, a senior official said on Wednesday (11/4/07).
Mon, 16 Apr 2007
PLN Calls for $2bn Power Project Tenders
State-owned electricity company PLN has called for tenders for a $2 billion power transmission project in the Java Bali interconnection, Asia Pulse reported on Wednesday (11/4/07).The project will be financed from the state budget, export credit and foreign loans, PLN Transmission and Distribution...
Mon, 16 Apr 2007
BCA to Extend Up to $1.1b in Loans
Bank Central Asia (BCA) is planning to extend up to Rp10 trillion ($1.1 billion) worth of loans this year, some Rp4 trillion of which would be allocated to corporations, vice president Jahja Setiaatmadja said.
Mon, 16 Apr 2007
Excelcom Users Up 10.5%
Indonesia's third largest mobile phone operator, PT Excelcomindo Pratama, signed on some 1 million new users in the first quarter, a senior company official said on Wednesday (11/4/07).The company, owned by Telekom Malaysia Bhd, is aiming for 4.5 million news users this year to add to its 9.
Mon, 16 Apr 2007
ASEAN to Set up Infrastructure Fund
The 10 member countries of the ASEAN have agreed to set up a special body to raise and manage an infrastructure fund to finance infrastructure projects in the region.The agency is expected to help speed up procurement of funds and mobilize idle funds for infrastructure projects in the ASEAN, head...
Mon, 16 Apr 2007
Q1 Foreign Investment Rises
Foreign direct investment rose to $2.99 billion in the first quarter of 2007 from $2.6 billion in the same period last year, National Investment Coordinating Board (BKPM) chairman Muhammad Lutfi said on Tuesday (10/4/07).Foreign direct investment approvals rose to $14.
Mon, 16 Apr 2007
Excelcomindo gets "AA-" rating
Jakarta (ANTARA News) - Indonesian rating agency Pefindo has assigned an "AA-" rating (stable outlook) to Rp2 trillion worth of bonds publicly-listed cellular phone operator PT Excelcomindo Pratama Tbk plans to issue this year.
Mon, 16 Apr 2007
Tax Base Extended Again
TEMPO Interactive, Jakarta: The Tax Directorate General is to extend the tax base once again.Hasan Rahmany, Director of Tax Intensification and Evaluation, said that this measure was being taken in order to increase the state's revenues.
Mon, 16 Apr 2007
SBY worries over rising demand of imported fruits
Concerned by a rise in the consumption of imported fruit, President Susilo Bambang Yudhoyono has urged Indonesians to purchase locally grown agricultural products.Speaking during a visit to a durian plantation in Sukabumi, West Java, on Sunday, the President also called for integrated efforts to...
Mon, 16 Apr 2007
Banks cut deposit rates to below 7%
Several banks in the country have begun to cut their deposit rates, following a decision by the Deposit Insurance Agency last week to further lower the rate for guaranteed deposits to 9 percent.Banks are still weighing options for trimming their lending rates as well, which is seen as necessary to...
Mon, 16 Apr 2007
Bidding for methane projects delayed
The tender process for the exploration and production of coal bed methane (CBM) gas in Indonesia will be delayed until August following a request from interested bidders asking for more time to set up pilot projects in order to determine the project's economic feasibility, an official said.
Sun, 15 Apr 2007
Banten and Elnusa may build major oil refinery
The Banten provincial government has signed a preliminary agreement with PT Elnusa to build a major oil refinery at an estimated cost of Rp 5 trillion (US$550 million), as well as an oil-storage tank farm, in the province.
Sun, 15 Apr 2007
More gas stations to sell Biopertamax
Facing increasing competition in the retail gasoline sector, state oil and gas firm PT Pertamina plans to increase the number of gas stations selling high-quality biofuel, known as Biopertamax, from 1 at present to 24 by the end of this month.
Sat, 14 Apr 2007
Govt urged to intensify gas explorations to cover deficit
the country's gas-use planners have stuffed up in a monumental way.the government is in the middle of trying to shift the poor from using kerosene to gas, and yet there are still not enough gas cylinders and they aer still stuffing about with the tender to make them.
Sat, 14 Apr 2007
Govt urged to intensify gas explorations to cover deficit
Methinks Fahmi Idris hasn't got a clue about his business. Even if they found the gas today it would take years to pipline it to where it is currently required.Also, I think that gas producers would much prefer the export price rather than what they would get if they sold to the government!
Sat, 14 Apr 2007
The pitfalls of Indonesian coal
JAKARTA - Indonesia's Bumi Resources and India's Tata Power are closing in on a US$1.3 billion deal that promises to give the Indian energy concern a 30% stake in two big Indonesian coal mines, Kaltim Prima Coal (KPC) and Arutmin.
Sat, 14 Apr 2007
Department of Trade Requests Explanation of Blocking Importers
TEMPO Interactive, Jakarta: The Department of Trade asked the Directorate General of Customs and Excise to inform them specifically of the criteria of permission to block importers. In addition, should the block be carried out all at once by the Directorate General without a confirmation from the...
Sat, 14 Apr 2007
BI to limit expat bank workers
The central bank is currently drafting a regulation to restrict the employment of expatriate labor in the banking sector amid recent concerns in some circles about perceived foreign domination of the country's banking industry.
Sat, 14 Apr 2007
Govt urged to intensify gas explorations to cover deficit
Jakarta (ANTARA News) - The government should step up gas exploration activity in the country to cover a shortage in natural gas supply to domestic industries, Industry Minister Fahmi Idris said here Friday.
Sat, 14 Apr 2007
Boyolali furniture exports increasing
Boyolali (ANTARA News) - Rainfall in Central Java that had been declining in the past month had boosted Boyolali district`s furniture exports, as the drying of wood for the production of furniture had become faster.
Sat, 14 Apr 2007
Palm oil killing rainforest in Indonesia
Friday 13th April, 2007 (IANS)Sulur is 50 years old, delicately built, but strong as a bear. With high swings, the Indonesian slams his axe into the stem of an oil-palm fruit bunch two, three, four times. Then the bunch of black-orange, berry-like fruits falls to the ground.
Fri, 13 Apr 2007
Identify your greatest strengths and develop them, says analyst
In today's global economy where managing market information is the key to staying ahead of the competition, Indonesia must firstly identify those sectors in which it has advantages, and then focus on developing them, an expert says.
Fri, 13 Apr 2007
Investment in Developing Countries Predicted to Rise
TEMPO Interactive, Jakarta: Investment in developing countries, including Indonesia, will continue growing.This opinion was conveyed by Mark Mobius, President of Templeton Emerging Markets Fund Inc.The reason he gave was that the inflation rate was decreasing and already under control.
Fri, 13 Apr 2007
Microsoft Offers Discount to Government for Vista
TEMPO Interactive, Jakarta: PT Microsoft Indonesia will offer the latest Windows Vista and Microsoft Office software with discounts of up to 80 percent off market prices.This offer will be proposed during the tenders for software procurement that will be held at every regional government.
Fri, 13 Apr 2007
Government Urged to Manage Modern Markets
TEMPO Interactive, Jakarta: Business groups are urging the government to issue a presidential regulation on modern markets as soon as possible.They said they were convinced that a draft of the regulation had been prepared, but it was yet to be proposed to the Cabinet Secretariat so that it can be...
Fri, 13 Apr 2007
Indonesian Economy in First Quarter Positive
TEMPO Interactive, Jakarta: The Finance Department has stated that Indonesia’s economic growth in the first quarter of 2007 showed satisfying results.According to Anggito Abimanyu, Head of the Fiscal Policy Body, economic growth in the first quarter of 2006 was between 5.7 and 5.
Fri, 13 Apr 2007
Bank Mandiri planning to acquire multi-finance company or bank
Jakarta (ANTARA News) - State-owned Bank Mandiri is planning to acquire a multi-finance company or bank with assets reaching a certain minimum amount, the bank`s chief said."In our revised business plan, we will include a plan to acquire a multi-finance company or bank whose assets reach a certain...
Thu, 12 Apr 2007
Investment bounces back in first quarter
Indonesia's efforts to attract more investment finally appear to be on the right track, with the latest figures for both realized investment and investment approvals during the first quarter bouncing back from last year's slump.
Thu, 12 Apr 2007
Investment Growth in 2008 Gloomy
TEMPO Interactive, Jakarta: Business groups have stated that investment growth next year will be more difficult compared to in 2007.The reason for this is that the government will still have to work hard to improve the investment climate in the short-term.
Thu, 12 Apr 2007
Indonesia`s wooden furniture exports continue to drop
Jepara (ANTARA News) - Indonesia`s wooden furniture exports have continued to decline in volume over the past three years although world demand is increasing, Industry Minister Fahmi Idris said here on Wednesday.
Thu, 12 Apr 2007
Regulation on Guaranteed Severance Pay to Be Completed Soon
TEMPO Interactive, Jakarta: President Susilo Bambang Yudhoyono has called Manpower Minister Erman Suparno to report on progress regarding the preparations of the Draft Governmental Regulation on guaranteed severance pay.Erman has said that the draft is still being discussed.
Thu, 12 Apr 2007
Foreign investment in M`sia five time that in Indonesia
Kuala Lumpur (ANTARA News) - Foreign investment in Malaysia in 2006 is five times that in Indonesia, apparently because the more advanced economic development in that country was more attractive to foreign investors.
Thu, 12 Apr 2007
Indonesia picks 3 Japanese groups for Rp6 trln railway project
Jakarta (ANTARA News) - Three Japanese consortia have been prequalified to bid for a railway project here worth about 6 trln rupiah.The three groups are Marubeni Corp-Tokyu, Itochu-Taise and Mitsubishi Corp.-Sumitomo Corp, XFN Asia reported citing the Transport Ministry.
Wed, 11 Apr 2007
W. Sumbawa eyeing Newmont stake
A couple of weeks ago, I saw an article by Yosef Ardi that ties in with this... Essentially, what's going on is classic Indonesian business skulduggery. Bumi, owned by the Bakrie clan, which as most people remember undermined (pun intended) Rio Tinto and took it over in a way that was nothing short...
Tue, 10 Apr 2007
Lion Air to Get New Boeing Aircraft
Private airline Lion Air said it will receive a delivery of a Boeing 737-900ER aircraft by the end of this month.It will be the first of 60 units of Boeing 737-900ERs the low-cost carrier had ordered from the aircraft maker at a price of $60 million each.
Tue, 10 Apr 2007
Tire Makers to Lift 2007 Output by 10%
Tire makers plan to increase their output by nearly 10% this year to meet demand from the domestic automotive sector, a senior industry official said on Tuesday (3/4/07).The country's tire manufacturers are expected to produce 45 million car tires this year, up from 41 million in 2006, Aziz Pane,...
Tue, 10 Apr 2007
Indofood Plans to Up Noodle Capacity
The world's largest instant noodle maker, PT Indofood Sukses Makmur, plans to boost its capacity to 14.5 billion packs per year from 13.5 billion to meet growing demand, a senior executive said on Tuesday (3/4/07).The company would spend Rp1.6 trillion ($175.
Tue, 10 Apr 2007
Jan-Feb Tourist Arrivals Up 13.59%
Foreign tourist arrivals in the first two months to February rose 13.59% year-on-year to 639,937, with arrivals in Bali leading the increase, data from the Central Bureau of Statistics showed, according to XFN-Asia.
Tue, 10 Apr 2007
Saudi Prince Mulls Hotel Investment
Saudi Prince Alwaleed bin Talal bin Abdul Azis Al Saud, who is chairman of his country's holding company, has expressed interest in investing in Indonesia's hotel business.Speaking to the press after meeting with President Susilo Bambang Yudhoyono at the latter's office in Jakarta last March 30,...
Tue, 10 Apr 2007
Spending on Infrastructure to Rise
The government will allocate more money for infrastructure development in next year's budget in an effort to ease the distribution bottlenecks that have seriously hampered the country's economic growth.
Tue, 10 Apr 2007
Indonesia commits to ASEAN single market plan
The government said Monday it would draft a new road map setting out revised economic development policies in line with the planned creation of the ASEAN single market."The road map will be completed by November this year and it will detail the reform programs that we intend to institute," Anggito...