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Tue, 27 Jul 2010
Govt aims to achieve rice, corn self sufficiency in 2014
Maros, S Sulawesi (ANTARA News) - The government has set itself the target of achieving self sufficiency in rice and corn production in 2014, a minister said.To that end, the government had targeted the annual increase in rice and corn production at 3.22 percent and 10.
Tue, 27 Jul 2010
RI suffers US$0.4 billion trade deficit with China: minister
Bandung, W Java (ANTARA News) - Indonesia is still suffering 0.3 billion dollars in its trade balance with china, Trade Minister Marie Elka Pangestu told a panel discussion on Monday.The trade deficit suffered by Indonesia was caused by the decline in its oil and gas exports, the minister said.
Tue, 27 Jul 2010
Indonesia sees economy growing faster than forecast
JAKARTA: Indonesia's finance minister said the government expected its economy to grow at a faster than budgeted 5.9 per cent this year and predicted a smaller-than-forecast budget deficit.The stronger government finances may lead Southeast Asia's top economy to cut its debt issuance target for the...
Tue, 27 Jul 2010
Investment Board Demand More Government Stake in Top Projects
TEMPO Interactive, Jakarta: The investment Coordinating Board has advised the governement take a more active role in public projects and leave the passive role of as the agency took over responsibility in offering government projects to foreign investors from the National Development Planning...
Tue, 27 Jul 2010
Labor Woes at Aston Bali Resort and Spa
Deadline Looming for Staff at Aston Bali Resort and Spa to Accept New Jobs and Severance Payout.As reported on Balidiscovery.com, the recent bankruptcy of PT Dewata Royal International (DRI) - the former owners of Aston Bali Resort and Spa [See: Labor Woes at Aston Bali Resort and Spa], has placed...
Mon, 26 Jul 2010
Analysis: Indonesia: Energy on the boil
Indonesia is to tap into vast reserves of geothermal energy to help meet its power needs for coming decades, with plans to invest more than US$10 billion over the next 15 years in the renewable power source.
Mon, 26 Jul 2010
Five places to invest before you retire
While the start of this year was all about the misery of the PIIGS, the rest of the year is likely to focus on the mastery of the STINC.That would be Singapore, Thailand, Turkey, Indonesia and Chile, five under-appreciated corners of the earth unsullied by over-spending, over-confidence and...
Mon, 26 Jul 2010
Agriculture needs prompt adaptation
Recently, we witnessed an outcry from households in our country due to prices on some agricultural commodities, especially peppers reaching up to Rp 50,000 (around US$5) per kilogram.The astronomical price increase was caused, among others, by reduced supply due to crop failure as looming climate...
Mon, 26 Jul 2010
Indonesia to Produce Cheap Sedans
TEMPO Interactive, Jakarta:Trade Minister M.S. Hidayat has said that the government is conceiving the idea of producing cheap cars domestically.The sedan will be a low cost green car and will be marketed at the price of around Rp80 million.
Mon, 26 Jul 2010
VP: halal certification must not burden industries
VP Boediono. (ANTARA News)Jakarta (ANTARA News) - Vice President Boediono said halal certification of domestic products and services should not be burdensome or harmful to industries."The awareness of products and services must belong to all parties and all stakeholders and therefore the halal...
Mon, 26 Jul 2010
VP: national automotive industry not yet competitive
Jakarta (ANTARA News) - Vice President Boediono said THE national automotive industry was not yet competitive compared to those in other countries."We have been developing an automotive industry in the country for a long time but until now it remains unable to compete with similar industries...
Mon, 26 Jul 2010
Pulau Baai pier development needs Rp36.6 billion
Bengkulu (ANTARA News) - The construction of Nusantara I pier of Pulau Baai port of Bengkulu needs a fund of more than Rp36.6 billion, an official of the local port operator said."The construction of the pier is expected to be completed late this month and operated in September," Manager...
Mon, 26 Jul 2010
Govt urged to encourage renewable energy consumption
Jakarta (ANTARA News) - The Energy Care Society (MPE) urged on Sunday the government and the House of Representatives (DPR) to encourage the use of renewable energy as an alternative to fossil fuel."The government and the DPR need to issue a regulation to lay a firm basis to change fossil...
Mon, 26 Jul 2010
Demand for rattan-made products declining: YRI
Jakarta (ANTARA News) - Less directed rattan export policy and declining demand for rattan products in domestic and world markets are threatening the sustainability of the rattan business in the country, Indonesian Rattan Foundation (YRI) chairman Lisman Sumardjani said.
Mon, 26 Jul 2010
$600m Lombok Mega-Resort Tender Results Slated for May
From Jakarta GlobeLombok Resort Still on Track: EmaarJakarta. Dubai-based property developer Emaar Properties has again been forced to deny it has pulled out of a $600 million resort project on the island of Lombok, which has been idle for years.
Fri, 23 Jul 2010
Indonesia past financial crisis, says Bank of New York Mellon
Indonesia, with its strong economic fundamentals, has successfully passed through the global financial crisis, a global banking official says.During a brief visit on Thursday to the trading floor of the Indonesia Stock Exchange (IDX), the chairman of the Bank of New York Mellon Asia Pacific branch,...
Thu, 22 Jul 2010
'Extraordinary’ Tax Corruption Beyond Comprehension: SBY
From Jakarta PostPresident to give direct briefing tax, customs officers WednesdayIn a frame to reach targeted state revenues, President Susilo Bambang Yudhoyono will provide direction for officers at the Directorate of Taxation and Directorate of Customs and Excise on Wednesday.
Thu, 22 Jul 2010
Industrial Property Surges in Jakarta
Demand for industrial property in Jakarta during the second quarter rose to its strongest in the past five years, with land prices and rental rates expected to continue growing even as more supply comes onto the market, a property consultancy said on Wednesday.
Thu, 22 Jul 2010
'Extraordinary’ Tax Corruption Beyond Comprehension: SBY
Massive graft at the tax department was “extraordinary crime beyond comprehension,” President Susilo Bambang Yudhoyono said on Wednesday.He said he had ordered Finance Minister Agus Martowardojo to pull out all the stops to end violations by officials of the tax directorate.
Wed, 21 Jul 2010
N Sulawesi exports canned fish to Germany
i've set up a few fishing companies in Bitung to rape and pillage the seas there. good to know the Germans are liking it.4-1
Wed, 21 Jul 2010
N Sulawesi exports canned fish to Germany
Manado, N Sulawesi (ANTARA News) - North Sulawesi exported 401.93 tons of canned fish worth US$934,962 to Germany in May.The canned fish was shipped 20 times or an average of four shipments a week, Head of the North Sulawesi Provincial Industry and Trade Office Sanny Parengkuan said on Monday.
Wed, 21 Jul 2010
Law enforcement in mining field weak: firm
Sungailiat, Babel (ANTARA News) - Tin mining PT Tambang Timah is of the view that law enforcement on illegal tin mining is still weak so that it poses difficulties for the company to carry out its reclamation program.
Tue, 20 Jul 2010
Korean investors relocate their shoe factories to Indonesia
Jakarta (ANTARA News) - Two Korean principal shoe producers with their brands Adidas and Geox plan to build a new factory in Indonesia with a total investment of 150 million US dollars."The two companies have shut down their plants in Vietnam and China for relocation to this country,"...
Tue, 20 Jul 2010
RI to become automotive production basis by 2025
Jakarta (ANTARA News) - Industry Minister MS Hidayat believed that Indonesia would achieve its target of building a firm and strong automotive production basis by 2025."The automotive producers` enthusiasm in Indonesia is quite high.
Mon, 19 Jul 2010
Indonesia - it's turning the mining page
INDONESIA is highly prospective - but it can also be a difficult country to work in, leading some investors to shy away from the country.There have been problems in some areas with local unrest. Then there was the infamous Bre-X scandal which, although the salting of the prospect was not the work...
Mon, 19 Jul 2010
Baskoro Indonesian Government Infrastructure Investment Fund On Hold Over Legal Questions
Indonesian Government Infrastructure Investment Fund On Hold Over Legal Questionsby Faisal Maliki BaskoroA plan by the State-Owned Enterprises Ministry to create an investment fund that would help finance infrastructure projects and the expansion and restructuring of state enterprises has stalled...
Mon, 19 Jul 2010
South Korea Ready For $10 B Investment
VIVAnews- South Korea will be investing around U$ 6 billion to 10 billion in Indonesia this year. “I went to Korea yesterday and this has been their commitment this year,” the Investment Coordinating Board (BKPM) Head Gita Wirjawan said in Jakarta on July 14.
Mon, 19 Jul 2010
RI to increase vegetable exports to Singapore
Jakarta (ANTARA News) - Indonesia is planning to increase its vegetable exports to Singapore where consumption of vegetables had reached 2,000-2,500 tons per day, an official said."Singapore authorities acknowledge that our vegetables and fruits have high quality," Deputy Agriculture...
Fri, 16 Jul 2010
Indonesia's trade battle with China
With the onset of a new free trade agreement, Indonesians are concerned that cheaper goods from China will threaten the future of their manufacturing industries.You would be hard pressed to find a building that is more than a century old in Surabaya, a port city of three million people on the...
Fri, 16 Jul 2010
Falling Prices, Wi-Fi Hotspots Drive Netbook Buying Spree
Sales of personal computers surged by 76 percent year-over-year during the second quarter, with the popularity of netbooks driving much of the increase, according to the Indonesian Computer Business Association.
Fri, 16 Jul 2010
VP: Outcome of many research projects useless to public
Tangerang, Banten (ANTARA News) - Vice President Boediono said the results of many research projects in Indonesia did not match what the public needed.Speaking at Small Business and Entrepreneurship Innovation Conference at Nusantara Multimedia University (UMN) in Tangerang, Banten, on Thursday,...
Fri, 16 Jul 2010
Singaporean tourist arrivals in Bali surge 53.18 percent
Denpasar (ANTARA News) - A total of 29,862 Singaporean tourists visited the resort island of Bali in the first five months of 010, jumping 53.18 percent from 19,495 in the same period last year.The significant increase was similar to the number of Australian tourist arrivals which went up 55.
Fri, 16 Jul 2010
Domestic firms asked to balance foreign investors
Jakarta (ANTARA News) - Domestic investors are asked to play a role as a balancing factor against the flow of foreign funds into the country so that the domestic financial market stability could be well maintained, a cabinet minister said.
Thu, 15 Jul 2010
Nielsen Survey Shows Growing Indonesian Online Shoppers
TEMPO Interactive, Jakarta: The Indonesian branch of consumer research firm Nielsen reported a growing trend in online shopping the in the country in the last several months.Executive Director of Consumer Reserach Catherine Eddy said today (14/7) almost 70 percent of indonesia's 30 million Internet...
Thu, 15 Jul 2010
Government Prepares Incentive for Geothermal Entrepreneurs
TEMPO Interactive, Jakarta:The government will provide incentives in the form of free import duty and value added tax (PPN) for companies managing geothermal energy.The policy is a form of government concern on the development of renewable energy.
Thu, 15 Jul 2010
Riau Expo eyes foreign investors
Jakarta (ANTARA News) - Riau Expo 2010 will be conducted in the city of Pekanbaru from August 1 to 9, to attract both domestic and foreign investors to invest in Riau province."Excellent regional potentials will be promoted during the Expo in a bid to net both domestic and foreign...
Tue, 13 Jul 2010
U.S. eyes geothermal for Exim Bank's $1 bln Indonesia credit
JAKARTA (Reuters) - Part of a $1 billion credit facility backed by the Export-Import Bank of the United States (Exim Bank) for Indonesia should be used to help develop clean energy projects such as geothermal power, a senior U.S. official said on Monday.The U.S.
Tue, 13 Jul 2010
Indonesia Wants to Be Biggest Seaweed Producer
TEMPO Interactive, Jakarta:Indonesia is determined to become the world’s biggest seaweed producer with a production projected at 10 million tons by 2014. According to the Indonesian Seaweed Commission chairman, Farid Ma'ruf, seaweed has the potential to become a select commodity.
Tue, 13 Jul 2010
Immigration to summon sponsor of seven problematic expatriates
Palu, C Sulawesi (ANTARA News) - Immigration authorities will summon the sponsor of seven problematic expatriates arrested in a raid in the Central Sulawesi provincial capital of Palu last Sunday."Their fate will largely depend on the sponsor," Head of the Palu Immigration Quarantine...
Tue, 13 Jul 2010
Target of 5.8% economic growth realistic
Jakarta (ANTARA News) - The government is of the opinion that the target of 5.8 percent economic growth is realistic, although several parties say it can be higher."We set it at 5.8 percent as realistic figure because in the first quarter of this year realization reached 5.
Tue, 13 Jul 2010
Investment board to handle all public-private partnership projects
Jakarta (ANTARA News) - Coordinating Minister for Economic Affairs Hatta Rajasa said all public-private partnership (PPP) invesment projects would be handled by the Capital Investment Coordinating Board (BKPM).
Tue, 13 Jul 2010
New Financing to Help Meet Growing Electricity Demands of Indonesian Economy
Washington DC, July 8, 2010 – The World Bank is set to help Indonesia meet its growing electricity demand and make electricity supplies in Java and south-central Sumatra more reliable, through a newly approved financing package worth US$ 225 million.
Tue, 13 Jul 2010
LG Eyeing Indonesia as Regional Hub?
South Korean electronics giant LG Electronics is considering making Indonesia its manufacturing hub for Southeast Asia, according to Gita Wirjawan, chairman of the Investment Coordinating Board.In an interview late on Sunday after meeting LG executives in Seoul, Gita told the Jakarta Globe that...
Tue, 13 Jul 2010
Industries Shocked by Steep Electricity Hikes
Manufacturers are up in arms over the recent electricity rate hikes, with some saying their rates have doubled and accusing the Energy Ministry and state utility PT Perusahaan Listrik Negara of deceiving them about the true extent of the increase.
Mon, 12 Jul 2010
A Tale of Two Surveys: Polls On Economic Future Differ
Two surveys have given opposing pictures of Indonesian consumer sentiment, with one reporting growing optimism on the back of recent salary bonuses for civil servants, while another showed pessimism as rising food prices discouraged spending.
Mon, 12 Jul 2010
Indonesia to Change the Face of the World
VIVAnews - Vice President Boediono pointed out Indonesia’s crucial role in the next decades to the members of Muhammadiyah on Thursday. According to the economic professor from Universitas Gadjah Mada, Indonesia is in the center of historical movement.
Mon, 12 Jul 2010
Export Business May Apply Transfer Pricing
VIVAnews - The Directorate General of Taxes reveals that companies in Indonesia that administers export trade and controlled from overseas could potentially carry out transfer pricing. The businesses include automotive, mining and palm oil products.
Mon, 12 Jul 2010
Malaysia Interested in Water Factory
TEMPO Interactive, Surakarta:Malaysia plans to invest in building a bottled water factory in Surakarta.The Malaysian International Trade and Industry Committee said this on Wednesday night and they are ready to invest Rp200 billion.
Mon, 12 Jul 2010
Businessmen must calculate impact of electricity price hike
Jakarta (ANTARA News) - Trade minister Mari Elka Pangestu called on businessmen here on Friday to carefully calculate the direct impact of the recent power price hike.She said after attending a meeting on macro-economy led by vice president Boediono "if the average hike is ten percent and the...