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Wed, 20 Feb 2008
Port congestion threatens upcoming shipping rules overhaul
Port infrastructure deficiencies must be quickly addressed before cabotage, a revision to cargo shipping procedures, is implemented.Congestion continues to mar Tanjung Priok Port, Indonesia's largest international trade port, in northeast Jakarta.
Wed, 20 Feb 2008
Impact of slowdown in U.S. uncertain
The extent to which Indonesia is going to be affected by a U.S.-led global economic downturn remains uncertain and difficult to forecast, a discussion among top economists showed in Jakarta on Tuesday.At a discussion hosted by the Centre for Strategic and International Studies, University of...
Wed, 20 Feb 2008
Dairi Prima to invest $180m
Despite unresolved permit problems, PT Dairi Prima Mineral, a local unit of Australian-based zinc and lead producer Herald Resources, said Tuesday it planned to spend US$180 million for initial exploration activities at its North Sumatra mine.
Wed, 20 Feb 2008
SBY orders Pertamina to gear up for Natuna block
Rendi Akhmad Witular and Ika Krismantari, The Jakarta Post, JakartaPresident Susilo Bambang Yudhoyono on Tuesday instructed state oil and gas company Pertamina to prepare to take over the development of the gas-rich Natuna block from U.S. energy giant ExxonMobil Corp.
Wed, 20 Feb 2008
Labor law mostly to blame for outsourcing, says Apindo
The rigidity of the 2003 Labor Act, particularly its severance provisions, has forced entrepreneurs to use outsourcing, a panelist told a seminar on Tuesday.Chairman of the Indonesian Employers Association (Apindo) Sofjan Wanandi said the hefty severance payments stipulated by the law burdened...
Wed, 20 Feb 2008
Bali still main destination of Australian tourists
Denpasar, Bali (ANTARA News) - Bali appears to have remained a main destination for Australians as the number of Australian tourists visiting Bali is only second to that of Japanese tourists, a local statistical official said.
Tue, 19 Feb 2008
Kadin slams audit agency's demand for more power
The Indonesian Chamber of Commerce and Industry (Kadin) announced Monday its opposition to the Supreme Audit Agency's (BPK) demand for greater authority in probing the state's tax revenue.The BPK is currently in court for a judicial review on the law on general rules and procedures of taxation.
Tue, 19 Feb 2008
Property Broker’s Business Ineffective in Indonesia
Tuesday, 19 February, 2008 | 15:16 WIBTEMPO Interactive, Jakarta: Property brokers generally in Indonesia are ineffective as a result of the property agent’s turnover level. A professional property broker, Tonny Eddy, said that this was caused by the instability of the property broker system...
Tue, 19 Feb 2008
PT Astra International January car sales up 38 pct
Jakarta (ANTARA News/Thomson Financial) - Indonesian conglomerate PT Astra International's January car sales rose 38 percent from a year before, led by sales of its mainstay Toyota models, data released Tuesday by the Indonesian Automotive Industries Association show.
Tue, 19 Feb 2008
President asks Pertamina to operate Natuna oil block
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono has asked state oil company PT Pertamina to be ready to exploit natural gas reserves in the Block D Alpha Natuna area in Riau Islands province.
Tue, 19 Feb 2008
State cement companies being encouraged to increase production
Jakarta (ANTARA News) - The government is encouraging state-owned cement companies to increase their production capacities to keep up with domestic demand which is growing by seven percent per year and expected to reach 60 million tons in 2013, a minister said.
Tue, 19 Feb 2008
RI's total industry output slowed down last year
The Jakarta Post, JakartaThe growth of the country's overall industry output slowed last year to 5.15 percent from 5.27 percent in 2006, far below the government's target of 6.31 percent, the government said.
Tue, 19 Feb 2008
Australia ready to invest $4b in Indonesia's mining
Australia's Senior Trade Commissioner Rod Morehouse said Monday that Australian firms were prepared to invest more than US$4 billion in Indonesia's mining industry."Australia has more than US$4 billion waiting to be invested," Morehouse told a press conference on the first day of the Ozmine...
Tue, 19 Feb 2008
'Miracle' growth need more firms, businessmen
Indonesia should nurture the growth of companies as well as entrepreneurs as they could contribute to "miracle" growth in the future, a noted economist said Monday.Speaking at a ceremony inducting him as a professor of economics at Prasetiya Mulya business school, where he is also executive...
Mon, 18 Feb 2008
Govt seeks to revise oil and gas contracts
JAKARTA (JP): With soaring oil prices, which translate into higher revenues for oil producing firms, the government said it would attempt to renegotiate contracts with oil and gas operators in the country.
Mon, 18 Feb 2008
Indonesia, Finland to intensify trade, investment cooperation
Jakarta (ANTARA News) - Indonesian President Susilo Bambang Yudhoyono and his visitng Finnish counterpart, Tarja Halonen, have agreed to intensify bilateral cooperation in the trade and investment sectors which has so far remained low."We have agreed to intensify trade and investment cooperation.
Mon, 18 Feb 2008
Foreign Institutions Lower Indonesia's Economic Projection
Monday, 18 February, 2008 | 17:25 WIBTEMPO Interactive, Jakarta: Several international financial institutions are predicting that Indonesia's economy this year will only grow 6.2 percent, much lower than the initial target in the 2008 state Budget of 6.8 percent.
Mon, 18 Feb 2008
Japan interested in Yapen Waropen`s seaweed
Jayapura (ANTARA News) - Japanese investors are interested in seaweed from Yapen Waropen district, Papua province, and expected to import the commodity to that country in the near future, a local official has said.
Mon, 18 Feb 2008
Credit card transactions up, along with non-performing loans
While the total value of credit card transactions in the country has significantly increased in the last two years, the amount of credit card nonperforming loans (NPLs) has also arisen, reports Bank Indonesia (BI).As of November 2007, credit card NPLs amounted to Rp 2.87 trillion (US$309.
Mon, 18 Feb 2008
Economy in 'no better shape' than pre-crisis
The Jakarta Post, JakartaMore than ten years after the financial crisis which led to costly restructuring and reform, Indonesia's economy is no better off, according to experts.In some cases, the economy is in even worse shape.In a public lecture, University of Indonesia economist Faisal H.
Mon, 18 Feb 2008
Govt. considers IPO for pawnbroker
The government is considering turning the country's state-owned pawnbroker into a limited company ahead of a possible partial privatization, the Financial Times reported Monday (11/2/08). Some 23 million Indonesians used Pegadaian last year to take out Rp23,300 billion ($2.
Mon, 18 Feb 2008
GDP expands at fastest pace in a decade
The nation expanded at the fastest pace in 10 years as declining borrowing costs encouraged companies to invest and spurred consumer spending, Bloomberg reported Friday (15/2/08). Gross domestic product (GDP) of the $364 billion economy grew 6.
Mon, 18 Feb 2008
Aceh conflict over coffee
Members of the Gayo ethnic group in the highlands of Aceh say they are annoyed by the insistence of a Dutch company that they cannot use the name of their area and people for their coffee. According to a report inThe Sydney Morning Herald, thousands of former rebels and sympathizers are being...
Mon, 18 Feb 2008
Building the Bali Nusa Raya Highway
Ambitious Road Project Part of a Giant Aceh to Eastern Indonesia Trans National Highway Project.Bali News: Building the Bali Nusa Raya Highway(2/16/2008) The National Road Building Agency for Indonesia's 8th District will soon begin realizing the construction and upgrading of 3,000 kilometers of...
Mon, 18 Feb 2008
Call for 50% Reduction in Hotel & Restaurant Tax.
Bagus Discovery Tour's Owner Says Lower Taxes Would Raise More Money for Island's Public Coffers.Bali News: Call for 50% Reduction in Hotel & Restaurant Tax.(2/17/2008) Commenting in a page-one article in BisnisBali, the Secretary General of the Bali Hotel and Restaurant Association (PHRI-Bali) and...
Mon, 18 Feb 2008
Bali Tourism Investments Dominated by Hotels and Resorts
Provincial Investment Board Gives Green Light to New Hotels Despite Objections by Tourism Board and Governor.Bisnis Bali estimates that the value of new investments in hotels and recreational facilities in Bali for the period January – November 2007 reached Rp. 1.4 trillion (US$152.
Mon, 18 Feb 2008
Merchants must have pride, VP says
this has been the first peep out of the veep for quite a while. and the issue? it seems the balinese want to bypass the moribund KADIN and form their own little ginger group so they can lobby for handouts.
Mon, 18 Feb 2008
Merchants must have pride, VP says
Sanur, Bali (ANTARA News) - Vice President Jusuf Kalla has told Balinese merchants that they must have pride without engaging themselves in a structural organization."Dealing in any product could be the pride so long as it is accompanied with high spirit and creativeness, and just leave the...
Sun, 17 Feb 2008
Japanese dominate 2007 tourist arrivals in Bali
actually, these figures are deceptive. most asian tourists come for very short stays; typically package holidays staying at 5 star hotels.non-asian tourists stay much longer -- 1-2 weeks or more -- and spend a lot more money overall, and stay at 3-4 star hotels.
Sun, 17 Feb 2008
Japanese dominate 2007 tourist arrivals in Bali
[Rain] japanese dominate 2007 tourist arrivals in Bali...amazing![Rain] instead of australian,as Bali as their second home[KuKuKaChu] yep, ozzies now 2nd place ....[KuKuKaChu] but japs only stay a few days at a time, and always in big hotels.
Sun, 17 Feb 2008
Japanese dominate 2007 tourist arrivals in Bali
amazing!instead of australian who place Bali as their second home!it shows Bali getting better isn't it!?!
Sun, 17 Feb 2008
Japanese dominate 2007 tourist arrivals in Bali
Denpasar, Bali (ANTARA News) - Japanese topped the list of foreign tourist arrivals in Indonesia`s resort island of Bali in 2007, reaching 351,752 persons, or about 21.11 percent of the total number of foreign tourist arrivals (1,666,079), a local official said.
Sat, 16 Feb 2008
RI`s GDP in 2007 recorded at 6.32 pct
Jakarta (ANTARA News) - The Central Bureau of Statistics (BPS) on Friday announced that Indonesia`s gross domestic product (GDP) in 2007 was recorded at 6.32 percent.BPS deputy chief for statistical and balance sheet analysis Slamet Soetomo said the 2007 GDP was slightly higher than the...
Sat, 16 Feb 2008
Realized investment in 2007 reached Rp135 trillion
Jakarta (ANTARA News) - Realized domestic and foreign investments in 2007 amounted to Rp135 trillion, exceeding the previous projection of Rp114 trillion, a finance ministry official said."The realization of investments in 2007 was higher than those in the four previous years.
Fri, 15 Feb 2008
Indonesian growth in 2007 fastest in 11 years
Jakarta (ANTARA News) - Indonesia's full-year growth for 2007 clocked in at 6.32 percent, the fastest rate since the country was hit by the Asian financial crisis 11 years ago, official data showed Friday.The figure was slightly higher than the government forecast of 6.
Fri, 15 Feb 2008
Indonesia`s United Tractors January heavy equipment sales up 60 pct
Jakarta (ANTARA News) - Indonesia's PT United Tractors said Friday its "Komatsu" heavy equipment sales rose 60 percent to 491 units in January from 306 a year earlier, led by sales to the mining and agriculture sectors.
Fri, 15 Feb 2008
Software giant comes to RI
On the back of higher demand for business software in Indonesia, U.S. software giant SAS is opening an office in Jakarta in efforts to better penetrate the market.Through its local unit, PT SAS Institute, SAS has planned an investment of between US$8 million and $10 million in Southeast Asia's...
Fri, 15 Feb 2008
Tax director general aims big this year
Aditya Suharmoko, The Jakarta Post, JakartaThe tax office said Thursday it would strive to significantly raise tax revenue this year in an attempt to increase the country's coffers.Finance Ministry Director General of Taxation Darmin Nasution told a press conference that this year his office aimed...
Fri, 15 Feb 2008
Government upholds deadline on Newmont's divestment process
The government is insisting PT Newmont Nusa Tenggara complete its planned divestment process by Feb. 22, threatening to terminate the U.S. company's mining contract for its gold and copper operations in West Nusa Tenggara if it fails to meet the deadline.
Fri, 15 Feb 2008
BlueScope invests $113m to lift output
JAKARTA (JP): Australian steel producer PT BlueScope Steel Indonesia is investing $113 million to expand its plant in response to rising local demand for steel.Attended by Industri Minister Fahmi Idris, the ground-breaking ceremony for the expansion was held Tuesday in Cilegon, Banten.
Fri, 15 Feb 2008
Indonesia 2007 GDP expected to grow at fastest pace in 11 years
Jakarta (ANTARA News) - The Indonesian economy is expected to have grown at its fastest pace in 2007 since the country was hit by the Asian financial crisis 11 years ago, driven mostly by private consumption.
Fri, 15 Feb 2008
Bengkulu to build new ports
Bengkulu (ANTARA News) - Bengkulu province which partially consists of beaches will in this year build several new ports for its plantation produce and coal.One of the ports which already has a permit for its construction will be located in Muko Muko Regency, and a further survey to be followed by...
Fri, 15 Feb 2008
Bengkulu develops Sigarar Utang coffee
Bengkulu (ANTARA News) - Sigarar Utang coffee, like arabica coffee of Medan, North Sumatra, is now being developed in Bengkulu on land with an altitude of about 1,000 meters avove sea level.Some 44,000 sigarar utang coffee trees in the Mangkorajo hills in Lebon regency, had been developed since...
Thu, 14 Feb 2008
Quantum to invest US$250 million on biofuel developments in Sumba
The Quantum Group of Australia will invest up to US$250 million to develop 100,000 hectares of land in East Nusa Tenggara to grow cassava, as well as set up four ethanol processing plants, employing as much as 60,000 local farmers.
Thu, 14 Feb 2008
Indonesia's economy: The year of the bubble
Rizal Ramli, JakartaThe performance of Indonesia's macroeconomy in 2007 was satisfactory from the perspective of the rate of growth and the balance of payments. International commodity price increases improved the country's terms of trade and speculative capital flows drove up share prices on the...
Thu, 14 Feb 2008
Govt, House plan to cut corporate tax to 25%
Rendi Akhmad Witular, The Jakarta Post, JakartaAiming to boost private sector investment, the government and the House of Representatives are planning to cut corporate income tax to a single rate of 25 percent in an amendment of the income tax law.
Thu, 14 Feb 2008
Bumiputera to have highest building in Indonesia
Jakarta (ANTARA News) - The life insurance company Bumiputera 1912 plans to build the highest building in Indonesia, with 63 floors."We have conducted the ground breaking ceremony of Bumiputera Tower located east of the Wisma Bumiputera on Jl. Jend.
Thu, 14 Feb 2008
Fitch upgrades Indonesia`s sovereign credit rating to `BB`, outlook stable
Jakarta (ANTARA News/Thomson Financial) - Fitch Ratings said Thursday it has upgraded Indonesia's long-term foreign and local currency issuer default ratings(IDRs) to "BB" from "BB-" as the country is making progress in boosting its investment climate.The outlook for both ratings is stable.
Thu, 14 Feb 2008
When the oil runs out and the plantations run dry
the sooner this oil palm biofuel mania has been killed off, the better. the recent EU ruling regarding biofuels seems to have put a bit of a sock in the "gold rush" for plantation land in Indonesia, but it's probably too late to stop the environmental carnage that will ensure in Kalimantan in...
Thu, 14 Feb 2008
2008 soybean production projected at more than 1.3 million tons
Jakarta (ANTARA News) - The government has projected Indonesia`s soybean production at more than 1.3 million tons in 2008 in a bid to reduce dependence on imports of the commodity.Agriculture Minister Anto Apriyantono said here on Wednesday the government would have to enhance the country`s...