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Thu, 15 Jan 2009
Foreigners’ Real Estate Rules Should Ease: REI
The Indonesian Real Estate Developers Association, or REI, is calling on the government to relax rules on property ownership for foreigners by extending them the right to purchase leaseholds titles to apartments and houses for a minimum of 75 years, or even allow them to purchase property outright.
Thu, 15 Jan 2009
Government Presses Oil Contractors To Use Local Service Firms
The government is urging oil and gas contractors to utilize the services of Indonesian firms in their 2009 projects, as part of efforts to support domestic economic growth amid the global economic crisis, said the State Ministry for State Enterprises.
Wed, 14 Jan 2009
Businessmen Call For a Tax Reduction on Liquor
now that fiskal is gone for tax number holders, i foresee many more foreigners making a weekly trip to singapore ...
Wed, 14 Jan 2009
Businessmen Call For a Tax Reduction on Liquor
I can give you a very long list of people! To days Tip ... buy in the duty free shop and don't worry about luxury goods tax
Wed, 14 Jan 2009
Businessmen Call For a Tax Reduction on Liquor
oh, but you are wrong! you *can* get alcohol into the country! the problem is that consumers are not willing to pay the price. and at 300% -- actually, i thought it was 350% -- who would want to pay?
Wed, 14 Jan 2009
Businessmen Call For a Tax Reduction on Liquor
Where do articles like this come from? You can't even get alcohol in to the country at the moment so what does it matter what the tax on it is!
Wed, 14 Jan 2009
Businessmen Call For a Tax Reduction on Liquor
TEMPO Interactive, Jakarta:Hotel and restaurant businessmen have called on the government to immediately reduce the luxury goods tax on liquor. “The current tax, which is 300 percent, is too high, so liquor is very costly,” said Indonesian Hotel and Restaurant executive-director, Carla...
Wed, 14 Jan 2009
Palm Oil Investment Still Lucrative
TEMPO Interactive, Jakarta:Crude palm oil production this year is predicted to rise to 20,2 million tons compared to 18,8 million tons in 2008. However, according to Indonesian Crude Palm Oil Businessmen Association chairman, Derom Bangun, this year’s increase in production was a result of trees...
Wed, 14 Jan 2009
Bali Suggested to be a Special Economy Zone
TEMPO Interactive, Denpasar: The Bali Provincial Government has been asked to immediately suggest it be granted the status of a special economy zone.“The status will make development in Bali easier, especially in attracting investment,” said Dradjad Wibowo, member of commission XI at the House...
Wed, 14 Jan 2009
Investment growth to hit double-digits
Aditya Suharmoko, The Jakarta Post, Jakarta Despite the global economic downturn, the estimated realized direct investment in Indonesia may still reach double-digits this year spurred by incentives and the stimulus packages designed by the government, the Investment Coordinating Board (BKPM) says.
Wed, 14 Jan 2009
Import rules to hurt expatriates, rich locals
The Jakarta Post, Jakarta Business groupings voiced Monday their opposition to the newly issued import regulations by the Trade Ministry that have made imports of goods consumed by expatriates and rich Indonesians more difficult.
Wed, 14 Jan 2009
Downturn Finally Hits Consumer Confidence
Bank Indonesia’s Consumer Confidence Index fell in December after rising for five consecutive months, indicating that Indonesians are finally waking up to a less-than-rosy picture of the economy.“Based on a survey conducted in December 2008, the Consumer Confidence Index remained in pessimistic...
Tue, 13 Jan 2009
Devil Is in the Details of New Mining Law, Industry Says
The new mining bill approved by the House of Representatives, or DPR, on Dec. 16, has drawn strong reactions from industry players, who argue that the new bill, which substitutes the old contract of work system with a new permits scheme, could scare off investments in the sector.
Tue, 13 Jan 2009
Mining Rights Holders Must ‘Use it, Lose it or Share’
The government will give holders of existing mining rights, or KPs, three options to bring their mining areas into line with the restrictions imposed by the recently enacted mining law, so as to help them avoid forfeiting their concessions if they are incapable of fully developing them.
Tue, 13 Jan 2009
Imported Food Bottleneck Expected to Get Tighter
The country’s hotels and restaurants are now chronically short of imported foods and beverages, with hospitality sector associations blaming a Trade Ministry regulation implemented in November that requires strict import-inspection labeling, or ML, on foreign food products.
Mon, 12 Jan 2009
Diplomats To Keep a Closer Eye On Trade Protections
Indonesia will ramp-up its diplomacy efforts to counter the possibility of increasing global trade protectionism policies, the Trade Ministry said on Friday.“Trade attaches have been requested to report to us what governments are doing in response to the financial crisis,” said Trade Minister...
Mon, 12 Jan 2009
Air Asia opens new RI-overseas routes
Yuli Tri Suwarni, The Jakarta Post, BandungThe Indonesian subsidiary of Malaysia's budget carrier Air Asia is planning to open at least 10 international routes in Indonesia this year to help reach its target of carrying 3.5 million passengers from Southeast Asia's largest economy.
Sun, 11 Jan 2009
Exporters’ Letters of Credit Soon Mandatory
Raw commodity exporters will soon be required to use letters of credit for their export transactions, which the government says will allow it to better monitor export payments in order to boost the country’s foreign exchange reserves.
Sun, 11 Jan 2009
Tax-Free Zone Regulation to be Issued
TEMPO Interactive, Jakarta:The government will soon issue a regulation annulling the amendment of Government Regulation no. 63/2003 on Value Added Tax Application and Luxury Goods Sales Tax in free trade zones of Batam, Bintan, and Karimun.
Sat, 10 Jan 2009
New policy to protect exporters, but may spook buyers
While a new export regulation will help cover local firms from risk of payment default, several business associations say it may spook potential overseas buyers of the country’s key commodities.Trade Minister Mari Elka Pangestu said Friday a new ministerial decree, issued Monday, would require...
Fri, 09 Jan 2009
Govt to implement new mining law within 6 months
The government plans to speed up the drafting of implementing regulations of the new mining law and to simplify its content.The director for mineral, coal and geothermal resources at the Energy and Mineral Resources Ministry, Bambang Setiawan, said in Jakarta on Friday the implementing regulations...
Fri, 09 Jan 2009
WIKA signs contract to build Rp 225 billion dam in Batam
The Jakarta Post, Jakarta State construction firm PT Wijaya Karya (WIKA) has signed a contract to build a large dam in Batam worth Rp 225 billion (around US$21 million)."We signed the contract Wednesday," finance director of the publicly listed company, Ganda Kusuma, said at the office of...
Fri, 09 Jan 2009
Government to Repossess Poorly Used Mining Concessions
Under regulations expected to be attached to the recently passed mining law, holders of mining rights, or KPs, including state-owned companies, may lose some of their concessions if they fail to properly develop the sites, a senior government official said on Wednesday.
Fri, 09 Jan 2009
Electronics Retailers Signal 20% Price Hike
Retail prices of consumer goods such as televisions and home appliances could rise by as much as 20 percent this year, as manufacturers squeezed by the weak rupiah pass higher production costs on to retailers, said the head of an organization representing the retail electronics sector.
Fri, 09 Jan 2009
Bakrie Bounce Back
A well-connected conglomerate avoids collapse - but exactly how is unclearBakrie pulls it offGIVEN its size and political connections, the recent turmoil surrounding Indonesia’s Bakrie group has provided a test case for whether the country can escape its crony-capitalist past and become a safer...
Thu, 08 Jan 2009
Govt delays bringing in coal DMO
Alfian, The Jakarta Post, Jakarta A requirement for coal producers to sell a certain part of their production to the local market, known as the domestic market obligation (DMO), could not be implemented this year as planned because of the need for a stronger legal basis.
Thu, 08 Jan 2009
Businesses slam govt's high export growth claim
Mustaqim Adamrah and Desy Nurhayati, The Jakarta Post, JakartaBusinesses strongly criticized the government's upbeat forecast of 8 percent growth in non oil and gas exports for 2009 as "unrealistic", arguing that exports of non oil and gas commodities will instead drop steeply.
Thu, 08 Jan 2009
Bandung Revitalizes Creative Zones
Speaking of Bandung's creative zones, Jakchat Buaya Budaya (the local version of Culture Vulture, you understand) may enjoy the Bandung Now modern art exhibition on at the national gallery (opposite Gambir). Began last night, on till the 17th Jan.
Thu, 08 Jan 2009
Mining law passes with unwanted catch
SINGAPORE - A new mining law in Indonesia, long delayed and keenly anticipated by foreign investors, secured passage through parliament last month with complications that dimmed hopes it would quickly unleash a new spate of exploration and development.
Thu, 08 Jan 2009
Bandung Revitalizes Creative Zones
Originally Posted By: DilliBandung municipality will permanently close down the oldest red-light district in the city to make way for a proposed Islamic centre, putting more than 1,000 people out of work in the process.I still lament the loss of Kramat Tunggak.
Thu, 08 Jan 2009
Bandung Revitalizes Creative Zones
I fear that they have overlooked possibly one of the most lucrative "areas"....Bandung municipality will permanently close down the oldest red-light district in the city to make way for a proposed Islamic centre, putting more than 1,000 people out of work in the process.
Thu, 08 Jan 2009
Bandung Revitalizes Creative Zones
TEMPO Interactive, Bandung:The Bandung city administration plans to revitalize creative industry areas as an effort to increase competitiveness among creative industries this year. "There are five creative industrial centers to be revitalized," said Bandung mayor, Dada Rosada, yesterday.
Thu, 08 Jan 2009
Thousands of Port Workers Face Dismisal
TEMPO Interactive, Surabaya:The chairman of the Land Transportation Organization of Tanjung Perak, Surabaya, Kodi Lomahayu, said around 6.000 workers at the local port area are facing the threat of dismissal.
Thu, 08 Jan 2009
President warns domestic industries to remain competitive
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono has warned domestic industries to remain competitive and not to use nationalism as an excuse for low performance levels.Speaking at a function to present Upakarti, Technology Pioneer, and Indonesia Good Design Selection (IGDS) awards to 33...
Thu, 08 Jan 2009
Minister Wacik Lobbies for North Bali Airport
Jero Wacik, known as Minister Zero by critics for his complete lack of knowledge of ... well ... everything, denied that he had extensive land holdings in northern Bali.
Wed, 07 Jan 2009
Minister Wacik Lobbies for North Bali Airport
Suggesting There May be Little Alternative, Jero Wacik Urges Serious Consideration for a New Airport in North Bali.(1/3/2009) Radar Bali reports that there are two schools of thoughts are forming on the future of Bali's international airport.
Wed, 07 Jan 2009
Website at the heart of graft scandal shut down
Dozens of notaries flocked to the Justice and Human Rights Ministry office Tuesday as they scrambled to process their clients’ business permits, following the closure of a graft-linked online administration system.The ministry’s website, www.sisminbakum.
Wed, 07 Jan 2009
President says no need for investors to worry about security
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono guaranteed security during the general elections this year, and assured investors not to worry about their security."Indonesia will be able to maintain security, so that it is not necessary for investors to be afraid of anything.
Tue, 06 Jan 2009
Plan to Open New CPO Markets Criticized
Minister of Trade Mari Pangestu has come under fire from an analyst for her plan to “rescue” the nation’s palm oil producers by attempting to create new markets overseas.At a press conference in Jakarta on Monday, Mari announced a plan to open up new export markets in the Middle East and...
Tue, 06 Jan 2009
Indian Investor To Build Steel Plant
TEMPO Interactive, PALANGKARAYA:An Indian investor will soon build a steel plant in Central Kalimantan’s Lamandau, as it is the biggest ore producer in the province.According to Central Kalimantan governor Teras Narang, an MoU is scheduled to be signed by both parties this week.
Tue, 06 Jan 2009
President says no need for investors to worry about security
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono guaranteed security during the general elections this year, and assured investors not to worry about their security."Indonesia will be able to maintain security, so that it is not necessary for investors to be afraid of anything.
Mon, 05 Jan 2009
Malaysia needs 200,000 ha of land in Kalimantan
Kuala Lumpur, (ANTARA News) - Malaysian Religious Affairs Minister Ahmad Zahid Hamidi said Malaysia`s Hajj Saving Institution was seeking 200,000 hectares of land for oil palm plantations in Kalimantan.
Mon, 05 Jan 2009
Infrastructure projects key to safeguarding economy
Mustaqim Adamrah and Aditya Suharmoko, The Jakarta Post, JakartaThe government and businesses seem to have agreed on one solution that could mitigate the impact of the global slowdown while also creating millions of new jobs -- to accelerate government-led infrastructure projects.
Mon, 05 Jan 2009
Govt to revitalize Ngurah Rai airport
The Jakarta Post | Sat, 01/03/2009 5:17 PM | BusinessVice Presiden Jusuf Kalla said Saturday that the government would expand and revitalize the Ngurah Rai International Airport in Denspasar, Bali, and that the construction would begin in April.
Mon, 05 Jan 2009
Land acquisition a long-standing snag
Commuters from Depok commuting to Jakarta will have to wait to enjoy driving down the planned widened 21.7 kilometer Depok-Antasari turnpike as the developer has said it is in difficulty financing the new express lane due to a huge increase in costs.
Mon, 05 Jan 2009
Java-Bali grid set for increased power supply
Java and Bali will receive an additional 1,535 megawatts (MW) of power supply this year, although the increased capacity would still not still reach an ideal level, state power firm PT PLN said over the weekend.
Mon, 05 Jan 2009
Food and Beverage Sector Told to Diversify
With shrinking demand from the main buyers of Indonesia’s exports, such as the United States and the European Union, the country’s food and beverage producers urgently need to diversify their markets, the head of an industry association says.
Fri, 02 Jan 2009
Banks To Scale Down Business Loans
The banking sector will continue lending to businesses this year, although not as aggressively as in 2008, two senior bankers say.“We don’t want to be too conservative about providing loans,” said Agus Martowardojo, chairman of the Indonesian Bankers Institute, or IBI.
Fri, 02 Jan 2009
Yudhoyono Promises Major Economic Stimulus Package
President Susilo Bambang Yudhoyono said on Wednesday that his administration would counter the impact of the global economic recession next year with a fiscal stimulus package worth Rp 12.5 trillion ($1.15 billion).
Fri, 02 Jan 2009
Economic indicators predicted to decline in 2009
Samarinda (ANTARA News) - Economic indicators amidst the global financial crisis are predicted to decline in 2009, an Indonesian Chamber of Commerce and Industry (Kadin) executive says."The global crisis which hit many countries in the world in 2008 will continue this year.