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Wed, 24 Aug 2011
C. Sulawesi Oilfield Production Halted by Raids
Tiaka oilfield in Central Sulawesi, jointly operated by state-run Pertamina and Medco Tomori, has halted production since Monday, after some 30 protesters attacked and destroyed facilities in Tiaka island, oil and gas regulator BPMigas said on Tuesday.
Wed, 24 Aug 2011
London Sumatra`s profit surges 112 pct
Jakarta (ANTARA News) - Oil palm plantation company PT PP London Sumatra Indonesia Tbk (LSIP) posted a net profit of Rp886.3 billion in the first half of 2011, a 112 percent surge compared to Rp417.8 billion in the same period last year.
Tue, 23 Aug 2011
Foreign investors to shift funds to Asia
Jakarta (ANTARA News) - Economist Guntur S. Siboro predicted here on Tuesday that the current financial crisis in the US and Europe would encourage foreign investors to shift their funds to Asia.Thanks to its better economic growth, Asia, particularly Indonesia, would be flooded by foreign funds,...
Mon, 22 Aug 2011
Amid Global Woe, Local Investors Seize Golden Opportunity
By: Shirley Christie & Dion BisaraAt the Toko Mas Mulia jewelry store along Jalan Cikini in Central Jakarta, customers glance at owner Kurniawan’s collection of rare 22- and 24-carat gold coins, but their eyes settle on his gold bars.
Mon, 22 Aug 2011
Several investors interested in Bank Mutiara: LPS
Jakarta (ANTARA News) - Several investors have submitted a letter of intent (LoI) to acquire Bank Mutiara, the Deposit Insurance Agency (LPS) said."Three investors have submitted letters of intent to acquire PT Bank Mutiara, which is now in the process of being sold.
Fri, 12 Aug 2011
East Kalimantan Rejects Russian-Funded Train Project
TEMPO Interactive, SAMARINDA:The central government’s plan to build a railway from Central to East Kalimantan has been rejected by East Kalimantan Governor Awang Faroek. Awang said he did not know of the US$ 2.5 billion project which would be funded by Russian investors.
Fri, 12 Aug 2011
Kalbe Farma Builds Medicine Factory
TEMPO Interactive, Jakarta:PT Kalbe Farma plans to build a medicine factory in Cikarang, West Java. “The construction will start next year,” financial director Vidjongtius, confirmed yesterday.The construction is expected to be completed by 2013 and cost up to Rp150 billion, explained the...
Thu, 11 Aug 2011
Indonesia Gets More Investment from Gas
VIVAnews - Among 10 largest projects handled by Oil and Gas Upstream Regulator (BP Migas), natural gas is the highest. The ten projects are worth US$ 4.725 billion, with a production design capacity of 1,750 million cubic feet of natural gas per day, 26,000 of condensate per day, and 20,000 of oil...
Thu, 11 Aug 2011
Indonesia sees 10 new oil, gas fields onstream in 4 years
JAKARTA, Aug 10 (Reuters) - Indonesia has 10 oil and gasprojects with total investment of $4.725 billion in the pipelineand are expected to come onstream between 2011 and 2014, withmost of the new production skewed towards gas, said oil and gaswatchdog BPMigas.
Thu, 11 Aug 2011
Indonesia's palm oil exports surge by 8.9 percent in first half
Indonesia's palm oil exports surge by 8.9 percent in first halfJAKARTA, (Xinhua) Indonesia's palm oil exports increased by 8.9 percent in the first half of this year to 8.2 million tons, up from 7.47 million tons in the same period last year, the Jakarta Post quoted an official as saying on...
Thu, 11 Aug 2011
British tourist arrivals in Bali up 25.86 pct
Denpasar, Bali (ANTARA News) - The number of British tourists visiting Bali in the first half of 2011 climbed 25.86 percent to 48,489 from 38,526 in the same period last year."Most of them came to Bali by direct flights.
Thu, 11 Aug 2011
Procter & Gamble to build first plant in Indonesia
Jakarta (ANTARA News) - Procter & Gamble will invest up to US$100 million to build its first plant in Indonesia in Karawang, West Java, P&G Home Product Indonesia External Relations Manager, Junita Kartikasari said.
Wed, 10 Aug 2011
Indonesia's Bali posts over 10 pct rise of tourist arrivals in first half
JAKARTA, Aug. 8 (Xinhua) -- As many as 1.3 million foreign tourists visited Bali in the first half of 2011, a 10.46 percent increase over the same period in 2010, the Jakarta Post quoted an official as saying on Monday.
Tue, 09 Aug 2011
ExxonMobil to sell assets in Aceh
By Rangga D Fadhillah US-based ExxonMobil says it is selling its shares in three companies associated with gas and liquefied natural gas (LNG) producing operations in Aceh – Mobil Exploration Indonesia, ExxonMobil Oil Indonesia and Mobil Indonesia LNG.
Tue, 09 Aug 2011
Coal India looking at buys in Indonesia, Australia, U.S: exec
Aug 8 (Reuters) - Coal India , the world's largest coal miner, is looking at one acquisition each in Indonesia, Australia and the United States, its chairman said on Monday.The likely size of each deal will be below 10 billion rupees ($223.
Mon, 08 Aug 2011
Jababeka Set to Invest Rp 1.5t In West Java Tourism Project
By : The Jakarta GlobeFrom:Ririn Radiawati KusumaIndustri Jababeka is acquiring two tourism-estate companies in West Java valued at Rp 1.5 trillion ($177 million) in a bid to sustain its growth, a top executive said on Sunday.
Mon, 08 Aug 2011
British Investors to Invest in South Sulawesi
TEMPO Interactive, Makassar:The United Kingdom is exploring the possibility of investing in the industry and trade sectors in South Sulawesi. Prior to that, two of Asia’s industrial countries, Singapore and South Korea, have declared their interest in investing in the province.
Mon, 08 Aug 2011
Foreign investment inflows in E Kalimantan soar 100 pct
Samarinda, E Kalimantan (ANTARA News) - Foreign investment inflows in East Kalimantan in the first half of 2011 jumped 100.4 percent to Rp8.88 trillion from Rp4.30 trillion in the same period last year.Meanwhile, domestic investment grew 39.73 percent to Rp11.43 trillion from Rp8.
Mon, 08 Aug 2011
Tourist arrivals in W Kalimantan up 2.82 pct in June
Pontianak, W Kalimantan (ANTARA News) - A total of 2,629 foreign tourists visited West Kalimantan province in June, an increase of 2.82 percent from 2,557 a month earlier.The tourists came to West Kalimantan via Entikong and Supadio gateways, Head of the West Kalimantan Provincial Statistics Office...
Fri, 05 Aug 2011
Number of foreign tourists to S Sumatra up
Palembang, South Sumatra (ANTARA News) - South Sumatra received 521 foreign tourists via Sultan Mahmud Badarudin II airport in May 2011, up 1.56 percent from the previous month.The figure also showed a 330.
Fri, 05 Aug 2011
W. Sumatra attracts 3,051 foreign tourists
Padang, West Sumatra (ANTARA News) - The number of foreign tourist arrivals in West Sumatra via Minangkabau International Airport and Teluk Bayur seaport reached 3,051 people in June 2011.The June 2011 arrivals increased 14.
Thu, 04 Aug 2011
Chinese Manufacturer Geely to Build Factories in Indonesia
Chinese Manufacturer Geely to Build Factories in IndonesiaTEMPO Interactive, Jakarta:Chinese low cost car manufacturer Geely plans to build automotive factories in Indonesia, including making Indonesia as one of the company’s production bases to meet domestic demands, as well as demands from...
Thu, 04 Aug 2011
Three CPO factories to be built in Pesisir Selatan
Painan, W Sumatra (ANTARA News) - Three crude palm oil (CPO) processing plants soon will be built in Pesisir Selatan regency, West Sumatra province."The three CPO plants belonged to PT CCI, PT Sapta and PT Incasi Raya and will be built in Linggo Sari Baganti, Basa Ampek Balai Tapan and Lunang...
Wed, 03 Aug 2011
Tanjung Lesung Proposed as Special Economic Zone
Serang:The Banten Provincial government has proposed that Tanjung Lesung in Pandeglang be designated as a special tourist economic zone.Banten Culture and Tourism Office chief Egi Djanuiswaty said he hoped the proposal could be approved by the central government.
Tue, 02 Aug 2011
First Stop for Bali Entrepreneurs
American Business Community Support for Entrepreneurs in BaliBalidiscovery.com met Peter Meyer, a Governor of AmCham Indonesia – the American Chamber of Commerce - for a quick interview regarding the Regional Entrepreneurship Summit (RES) held in Nusa Dua in July 2011.
Tue, 02 Aug 2011
Plans Are Under Way for Two Coal Upgrade Plants
From: The Jakarta GlobeBy:Muhamad Al Azhari Arutmin Indonesia, a subsidiary of coal miner Bumi Resources, and Japanese steel manufacturer Kobe Steel are jointly constructing a smelter that will transform brown coal into higher-quality coal.“Low-rank coal is in abundance in Indonesia.
Tue, 02 Aug 2011
Indonesia Set to Cut Palm Oil Export Tax Rate Amid Lobbying
By:Niluksi Koswanage Indonesia, the world’s largest palm oil producer and exporter, could lower the maximum export tax rate by this month, a small concession by Jakarta to a powerful industry lobby that says the duty structure hurts trade.
Tue, 02 Aug 2011
Wheels in Motion for Deals on Kalimantan Resources
From: The Jakarta GlobeBy :Ririn Radiawati Kusuma The government listed for sale on Monday nine resource blocks in Kalimantan, including eight with coal-bed methane gas, in the latest effort by the country to boost development of alternative energy.
Tue, 02 Aug 2011
Malaysia plans green palm oil certification scheme- paper
Malaysia plans green palm oil certification scheme- paper(Reuters) - Malaysia, the word's No.2 palm oil producer, will come up with a certification scheme to ensure the tropical oil is grown without clearing forests and destroying wildlife, a newspaper reported on Monday.
Tue, 02 Aug 2011
Indonesia foreign tourist arrivals grow 9.9 pct in June
(Reuters) - Indonesia's foreign tourist arrivals grew 9.9 percent in June to 674,400 people, the statistics bureau said on Monday.The main destinations were the resort island of Bali and capital Jakarta, it said.
Tue, 02 Aug 2011
Audits Reveal Over US$100M in Outstanding Taxes From Oil & Gas Firms
TEMPO Interactive, Jakarta:Audits conducted by the Supreme Audit Agency and the Development and Finance Comptroller, or BPKP, have revealed massive unpaid taxes incurred by oil and gas firms. It is hoped that these findings will give the government an opportunity to resolve matters, possibly by...
Tue, 02 Aug 2011
Investment in oil and gas to increase US$68.43 mln
Jakarta (ANTARA News) - Investment in oil and gas explorations in Indonesia will increase by US$68.43 million in the next three years, the director general of oil/gas of the ministry energy and mineral resources ministry, Evita Legowo, said.
Mon, 01 Aug 2011
Investment in Industrial Plantation Concessions on the Rise
TEMPO Interactive, Jakarta:The Forestry Ministry says that investments in the forestry sector have increased despite the implementation of the Oslo moratorium (Norway agreement) this year. In the first semester, 12 companies were granted permits to invest Rp23.
Mon, 01 Aug 2011
Japan expected to increase investment in public-private projects
Jakarta (ANTARA News) - Indonesia is expecting Japanese private businesses to invest in especially public-private partnership (PPP) infrastructure projects.The country`s minister of national development planning, Armida S Alisjahbana, expressed the wish when receiving the vice president of Japan...
Fri, 29 Jul 2011
Pelindo to set up consortium to build West Pacific Port
Jakarta (ANTARA News) - State-owned PT Pelabuhan Indonesia (Pelindo) II plans to set up a consortium to build West Pacific Port in Sorong in the eastern province of Papua with an investment of around Rp1 trillion.
Fri, 29 Jul 2011
Krakatau Steel invests trillions of rupiah
Cilegon (ANTARA News) - State-owned steel manufacturer PT Krakatau Steel (KS) has again invested trillions of rupiah after establishing a joint venture with a Korean steel plant, Posco."Besides developing and revitalizing the Krakatau-Posco enterprise, we are also building a 1.
Tue, 26 Jul 2011
Coal India says seeking govt nod for 30 pct in Indonesia mine
(Reuters) - Coal India , the world's largest coal miner, is seeking approval from the Indian government to buy a 30 percent stake in a coal asset in Indonesia, its chairman said on Monday, but declined to give specific details on the possible investment.
Tue, 26 Jul 2011
Soekarno-Hatta International Airport Overhaul Planned
TEMPO Interactive, Jakarta:Work to turn Indonesia's Soekarno-Hatta International Airport into a world-class international gateway by 2014 will begin early next year, initially with the drafting of the grand design.
Tue, 26 Jul 2011
BKPM optimistic Rp240 tln investment target to be reached
Jakarta (ANTARA News) - The Investment Coordinating Board (BKPM) is optimistic its investment target of Rp240 trillion for this year can be achieved although the first-semester investment inflows reached Rp115.6 trillion or 48.16 percent.
Tue, 26 Jul 2011
Chinese state-owned company to build ferronickel industry in Kalimantan
Kotabaru, South Kalimantan (ANTARA News) - Chinese state-owned company Dafeng Port Group plans to set up a ferronickel industry in Kotabaru, South Kalimantan with a production capacity of 200 million metric tons a year.The president director of Dafeng Port Group Co. Ltd.
Tue, 26 Jul 2011
Nissan to invest US$312 million in expansion
Jakarta (ANTARA News) - PT Nissan Motor Indonesia (NMI) plans to invest US$321.5 million to increase the production capacity of its plant in Indonesia to 180,000 units a year from presently 50,000."The expansion is expected to finish in 2013," its president director, Takayuki Kimura, said...
Thu, 21 Jul 2011
Exports Indonesia: Three Things Indonesia Needs to Do To Start Competing With Regional Rivals
At the World Economic Forum in Jakarta this month, countries were urged to pursue increasing economic openness and competitiveness to drive new growth in Asia. For a country like Indonesia, which has concentrated on an ever-expanding domestic market, the forum was a timely call for a review of...
Tue, 19 Jul 2011
Tax drama in Indonesia
JAKARTA - A long-running tax saga is keeping this summer's Hollywood blockbusters out of Indonesian cinemas and drawing new negative attention to the country's often dysfunctional and corrupt regulatory environment.
Tue, 19 Jul 2011
Purwakarta Projects New Investments of Rp100 Trillion
TEMPO Interactive, Purwakarta:Purwakarta regency government is optimistic about achieving its Rp100 trillion investment target. Last year, investments were only Rp50 trillion, while up to mid-July this year investments reached Rp60 trillion.
Tue, 19 Jul 2011
Indonesia appoints auditors for green palm oil body
(Reuters) - Indonesia is forging ahead with its own green palm oil body to regulate and punish firms that do not adhere to environmental standards.About a dozen independent auditors for the Indonesia Sustainable Palm Oil (ISPO) standard have been appointed, Gamal Nasir, Director-General of...
Tue, 19 Jul 2011
RI investment in Egypt increases to US$270 million
Cairo (ANTARA News) - Indonesia`s investment in Egypt increased drastically over the past five years to US$270 million while the figure in the 1970-2006 period was only USU$109.31 million, an Indonesian embassy official said.
Mon, 11 Jul 2011
S Kalimantan`s exports increase sharply
Banjarbaru, S Kalimantan (ANTARA News) - South Kalimantan`s non-oil/non-gas exports in the first half of 2011 rose significantly to Rp3.99 billion from Rp2.6 billion in the same period last year.South Kalimantan`s exports grew by an average of 25.
Mon, 11 Jul 2011
Japan interested in building tuna processing plant in Malang
Malang, E Java (ANTARA News) - An Osaka businessman said he became interested in building a tuna processing plant in Malang regency, East Java.The Indonesian Consul General in Osaka Ibnu Hadi when accompanying a group of Japanese businessmen in Malang on Friday said besides the plan to build a tuna...
Mon, 11 Jul 2011
Investment on MP3EI projects worth Rp55.01 trillion
Jakarta (ANTARA News) - The investment made on 19 projects in the framework of the Master Plan for Acceleration and Expansion of Indonesia`s Economic Development (MP3EI) in the first semester of 2011 was recorded at Rp55.01 trillion, a minister said.
Fri, 08 Jul 2011
Vietnam Eyes Indonesian Coal as Own Supply Dwindles: Minister
From: The Jakarta GlobeHanoi. Vietnam, a coal exporter, is projected to import 6.5 million tons of the fuel annually by 2015 as its domestic supply dries up, a minister said.This followed the first import of nearly 10,000 tons of Indonesian thermal coal this year as Vietnam grapples with a rising...