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Wed, 06 Jan 2010
Indonesia's Pawn-Shop King Seeking Rp 7 Trillion to Lift Lending
State-owned PT Perum Pegadaian, the country’s biggest operator of pawn shops, said on Tuesday that it would seek Rp 7 trillion ($756 million) from the capital markets this year to strengthen its capital structure and increase its total lending.
Wed, 06 Jan 2010
Insurance Fund to Protect Indonesia Infrastructure Investments
The government has established a state-owned guarantee fund to protect investors in infrastructure projects from any “unfavorable” policies that could hurt their investments, the Finance Ministry said on Tuesday.
Tue, 05 Jan 2010
Indonesian president happy with country's 2009 economic performance
Indonesian President Susilo Bambang Yudhoyono said Tuesday that the country's economic performance in 2009 was quite well at the backdrop of a crisis that rammed global economy, the Antara news agency reported.
Tue, 05 Jan 2010
Customs foil attempt to smuggle in second-hand clothing
Jakarta (ANTARA News) - Riau Islands customs officers in Natuna waters on Monday (Jan 4) foiled an attempt to smuggle thousands of bales of second-hand clothing from Malaysia to Flores, East Nusa Tenggara.
Tue, 05 Jan 2010
Manufacturing Growth to Surge, Says Indonesian Government
The government is forecasting that the manufacturing sector will grow by 4.55 percent in 2010, in line with the recovery of the domestic and global economies, a senior cabinet minister said on Monday.Although still modest, that represents a significant improvement over last year, when the sector is...
Tue, 05 Jan 2010
Indonesian Bankers Call for Restrictions To Limit Expansion of Foreign Rivals
Indonesian bank executives on Monday called on the government to use licensing restrictions to limit foreign investors’ expansion in the domestic banking industry.Agus Martowardojo, chairman of the Indonesian Bankers Association (IBI), said Bank Indonesia should follow the lead of neighboring...
Tue, 05 Jan 2010
RI proposes ASEAN to delay FTA
The Indonesian government submitted a proposal to the ASEAN Council last week to postpone tariff reductions on 228 items under the free trade agreement between the regional grouping and China.“The notification we sent to the ASEAN Council last week stipulates we want a renegotiation,” Industry...
Tue, 05 Jan 2010
Power supply problems overcome by October 2010 : Minister
Jakarta (ANTARA News) - The electricity supply problems in a number of regions in Indonesia will be overcome by October 2010, Coordinating Minister for Economic Affairs Hatta Radjasa said here on Monday.
Mon, 04 Jan 2010
Energy and mining revenue expected to drop in 2010
The failure to attract enough investors for new oil and gas blocks offered in 2009 will cost the government a Rp 60 trillion (US$6.36 billion) drop in state revenue this year, the energy and mineral resources ministry said.The ministry estimated the revenue from the sector would drop to Rp 175.
Mon, 04 Jan 2010
Plantation Sector Set for Steady Growth: Govt
Plantation sector investment is forecast to grow by 11 percent per year over the next five years while the amount of land used for palm oil plantations will jump by almost 20 percent, according to an Agriculture Ministry forecast released last week.
Mon, 04 Jan 2010
Analysts Say Domestic Demand, Not Government Stimulus, Saved Indonesian Economy
Despite the turbulence in financial markets decimating global commerce and nearly toppling trade-driven economies in February, the Bank Indonesia governor at the time, Boediono, said the nation had “a blessing in disguise.
Mon, 04 Jan 2010
Regional Free-Trade Deal With China Comes Into Effect
Bangkok. A free-trade agreement between China and Southeast Asia came into force on Friday, consolidating a sixfold surge in economic activity over the past decade between countries representing a quarter of the world’s population.
Mon, 04 Jan 2010
Local Biofuel Output Dives In 2009 as CPO Price Rises
Indonesia fell woefully short of its biofuels target in 2009 as producers halted operations because of the surging price of crude palm oil, the main raw material.Total biofuel production was just 104,100 kiloliters in 2009, a 96 percent fall from the 2.
Sat, 02 Jan 2010
Govt to solve overlapping regulations
Quoting: biznewsGovt to solve overlapping regulations by overlapping the overlapsby Banyak Babiyo., The Jakarta Post, Jakarta The government is to issue a new regulation next February to help solve the classic problem of overlapping regulations between central government and regional and provincial...
Sat, 02 Jan 2010
To reject trade protectionism, actions matter
BEIJING, Jan. 1 (Xinhua) -- A free-trade agreement between China and Association of Southeast Asian Nations (ASEAN) took effect on the first day of the 2010, a solid move from the two sides to demonstrate their craving for and determination on cooperation and free trade while some other nations are...
Sat, 02 Jan 2010
Biggest regional trade deal unveiled
China and the 10-country Association of South East Asian Nations on Friday launched the final stage of the world’s biggest regional trade agreement, measured by population, in spite of Indonesia’s last-minute attempts at renegotiation.
Sat, 02 Jan 2010
RI needs to increase competitiveness in facing ACFTA
Yogyakarta (ANTARA News) - Indonesia needs to increase its product competitiveness in facing the ASEAN China Free Trade Area (ACFTA) in 2010, economic analyst of the Yogyakarta Muhammadiyah University (UMY) Lilies Setiartiti said.
Fri, 01 Jan 2010
Indonesia to enhance export growth
2010 has just begun, and many are waiting for something better to happen. With the establishment of the Free Trade Area between ASEAN countries and China, Indonesia hopes to enhance its export growth in the midst of concerns from manufacturing industries.
Fri, 01 Jan 2010
China-ASEAN free trade area starts operation
NANNING, Jan. 1 (Xinhua) -- China and the Association of Southeast Asian Nations (ASEAN) kicked off the world's largest free trade area (FTA) embracing developing countries Friday as businessmen and trucks loaded with vegetables and fruits thronged border markets.
Fri, 01 Jan 2010
Govt to solve overlapping regulations
The government is to issue a new regulation next February to help solve the classic problem of overlapping regulations between central government and regional and provincial administrations.Director general for forest planning at the Forestry Ministry, Soetrisno said Wednesday the ministry was...
Fri, 01 Jan 2010
RI at a crossroads: Which way to go in the Asian century
After passing through an extraordinary year, 2009, as well as the first decade of the 21st century, Indonesia finds itself at a crossroads just ahead of both the new year and the century’s second decade.
Thu, 31 Dec 2009
Indonesia's Textile Industry Ripped by Global Crisis and China Free-Trade Deal
Silky smooth as always. Now button it.
Thu, 31 Dec 2009
Indonesia's Textile Industry Ripped by Global Crisis and China Free-Trade Deal
You just haven't cottoned on to bespoke humour.
Thu, 31 Dec 2009
Indonesia's Textile Industry Ripped by Global Crisis and China Free-Trade Deal
Mercy./me slits wrists.
Thu, 31 Dec 2009
Indonesia's Textile Industry Ripped by Global Crisis and China Free-Trade Deal
Ruining the very fabric of society.
Thu, 31 Dec 2009
Indonesia's Textile Industry Ripped by Global Crisis and China Free-Trade Deal
The nation’s textile industry has been dealt a double blow by the global economic slowdown and the imminent Asean free-trade agreement with China, with more than half of the manufacturers here turning into mere trading houses and 155 producers going out of business in 2009.
Thu, 31 Dec 2009
Cepu’s Promise Buried in Bureaucracy
Cepu, Indonesia’s largest oil block, is the nation’s best hope for lifting its sagging crude production, which has fallen to less than one million barrels per day. But the ongoing drive to reach peak output of 165,000 bpd at Cepu had been anything but smooth this year, with bureaucratic tangles...
Thu, 31 Dec 2009
Deal Seems Unlikely for Emaar Lombok Project
Government officials on Wednesday appeared to distance themselves from Dubai-based Emaar Properties’ $600 million mega-resort project in Lombok, ahead of today’s deadline to finalize the deal.“It’s better to call Emaar directly, I’m sorry,” Alwi Shihab, the special presidential envoy to...
Thu, 31 Dec 2009
Indonesian Energy Sector Investment Hamstrung by Crisis in 2009
Indonesia, Southeast Asia’s biggest oil producer, has failed to meet its investment target for the oil and gas sector because contractors cut spending as the economic slowdown brought record-high crude prices crashing down and reduced energy demand, upstream energy regulator BPMigas announced on...
Wed, 30 Dec 2009
Bali in Budget Beds Battle
Hotel owners in Bali are crying foul over the latest arrival in Indonesia’s premier tourist destination.They claim that Tune Hotels, the Malaysian budget accommodation chain owned by Air Asia founder Tony Fernandes, will “damage” the island’s image by offering spartan rooms for as little as...
Tue, 29 Dec 2009
Trade opens new opportunities
EditorialWe find it hard to understand why Indonesian manufacturers raised great concerns over the probable adverse impact of the ASEAN-China Free Trade Agreement only a few weeks before the accord is supposed to come into force early next month.
Tue, 29 Dec 2009
Regulations on free trade finalized
Ministerial regulations on full implementation of the free trade agreement between ASEAN and China (ACFTA) have been finalized, becoming effective Jan. 1 next year, the Finance Ministry said.“Several Finance Ministry regulations will be completed today,” Finance Minister Sri Mulyani Indrawati...
Tue, 29 Dec 2009
VP: North Sulawesi on fast track of development
Manado, N Sulawesi (ANTARA News) - Vice President Boediono said North Sulawesi province was now in the fast track of development in line with its increasing annual economic growth."North Sulawesi has made significant achievements in development in line with its geographic excellence and...
Tue, 29 Dec 2009
Tourist arrivals in Bali exceed target
Denpasar (ANTARA News) - The number of tourist arrivals in Bali is likely to hit a record high of 2.1 million in 2009, well above the target of 1.8 million for the year, a tourism official said."The number of tourist arrivals in the January-October 2009 period already reached 1.9 million.
Tue, 29 Dec 2009
Pertamina Monopoly to End Next Year
State oil and gas company PT Pertamina will for the first time lose its monopoly on the distribution of subsidized fuel after downstream oil and gas regulator BPH Migas announced on Monday that it had awarded distribution rights to two private companies, including one from Malaysia.
Sun, 27 Dec 2009
ASEAN integration process moving forward in 2009
JAKARTA, Dec. 26 (Xinhua) -- The Association of Southeast Asian Nations (ASEAN) has gained significant headway in many areas. With the ASEAN Charter and the Roadmap for the ASEAN Community, the 10-member regional group succeeded in making achievements in its 14thsummit and 15th summit respectively...
Sun, 27 Dec 2009
Too many regulatory surprises
As President Susilo Bambang Yudhoyono works to improve the investment climate in Indonesia, regulatory surprises have slowed his progress, reinforcing the impression that Indonesia is an unpredictable place to do business.
Sun, 27 Dec 2009
VP: Only 15 pct of national, regional budgets for investment
Banda Aceh (ANTARA News) - Vice President Boediono said the government would only be able to set aside 15 percent of the regional and national budgets for supporting investment to achieve seven percent growth.
Sun, 27 Dec 2009
Banda Aceh being prepared to become hard port city
Banda Aceh (ANTARA News) - Banda Aceh is being prepared to have a seaport for very large ships by 2014, Aceh Governor Irwandi Yusuf said here Saturday."We are preparing Banda Aceh to have a hard port or a seaport for very large ships, ships too large to pass through the Malacca Strait,"...
Fri, 25 Dec 2009
Govt to form infrastructure fund soon
Jakarta (ANTARA News) - The government is soon to form an Infrastructure Fund tasked with collecting long-term funds from donor countries and other sources to speed up infrastructure development, a top public works official said.
Fri, 25 Dec 2009
Indonesia sees foreign investment up 15 pct in 2010
JAKARTA, Dec 24 - Indonesia's foreign direct investment is set to rebound 15 percent in 2010 on a global economic recovery after dropping 28 percent this year to just below $10 billion, the state investment agency (BKPM) said.
Fri, 25 Dec 2009
Non Food Label Regulation Starts from January
TEMPO Interactive, Jakarta:The government is to apply the Trade Ministerial regulation on Indonesian language labels for non-food products, such as electronics, spare parts and construction tools and materials.
Thu, 24 Dec 2009
Indonesia to Impose 3% Export Tax On Crude Palm Oil Starting in January
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Wed, 23 Dec 2009
Business Competition Commission Regret Yudhoyono-Carrefour Meeting
From Jakarta Globe‘Carrefour Did Not Lobby Yudhoyono’by Dian AriffahmiPresident Susilo Bambang Yudhoyono did not hold a special meeting with Carrefour’s chief executive during his visit to France last week, a presidential spokesman said on Tuesday.
Wed, 23 Dec 2009
Indonesia to Impose 3% Export Tax On Crude Palm Oil Starting in January
Indonesia, the world’s biggest producer of crude palm oil, will impose a 3 percent tax on exports of the commodity starting in January to ensure domestic supplies.The increase, the first in six months, lifts the tax rate from zero and was based on the average price in Rotterdam exceeding $769.
Wed, 23 Dec 2009
Bakrie Plantation Doubles Target
TEMPO Interactive, Jakarta:PT Bakrie Sumatera Plantation has targeted next year’s revenue to double, given its plan to acquire PT Domba Mas Agro Inti. "The result of acquiring Domba Mas can contribute more to revenues,” Bakrie Plantation financial director, Harry M.
Tue, 22 Dec 2009
Government to Intensify Non-Tariff Protection Measures
TEMPO Interactive, Jakarta: Industry Minister MS Hidayat said the government maximize protection for domestic market by intensifying and reactivating non tariff regulations in facing the ASEAN-CHINA free trade starting next year.
Tue, 22 Dec 2009
RI may lose economic oomph over Century
Aditya Suharmoko, The Jakarta Post, JakartaThe political debate over the Bank Century bailout may harm Indonesia’s economy as the country loses momentum to bolster growth, while other nations gear up to attract investors, economists say.
Tue, 22 Dec 2009
Business Competition Commission Regret Yudhoyono-Carrefour Meeting
TEMPO Interactive, Jakarta: The Business Competition Supervisory Commission have regretted President Susilo Bambang Yudhoyono's meeting with Chief Executive Officer of Carrefour Group Lars Olofsson in Paris last week amid the legal proceedings on monopoly faced by the retailer's operation in...
Tue, 22 Dec 2009
Four RI seaports to operate 24 hours per day
Samarinda (ANTARA News) - Four seaports in Indonesia will operate 24 hours a day as of February 2010, the Director General of Sea Transportation, Sunaryo, said here on Monday.The four seaports are Belawan in Medan, North Sumatra, Tanjung Priok in Jakarta, Tanjung Perak in Surabaya, East Java and...