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Sat, 14 Mar 2009
Emaar Withdraws From US$600 Million Lombok Project
$600m Lombok Resorts ScrappedCiting governmental paralysis and hinting that too many officials had their hands out, Dubai’s state-owned Emaar Properties PJSC has cancelled its massive $600 million property project that was to turn the pristine island of Lombok into another Bali.
Sat, 14 Mar 2009
Port Users Demand Better Facilities And Turnaround Times
Echoing many previous calls, exasperated exporters and logistics firms called on the government on Friday to do something to eliminate mind-numbing bureaucracy and improve abysmal cargo handling services at the country’s main seaports.
Fri, 13 Mar 2009
New Taxation Office to Target Jakarta’s Jet Set
The government plans to open a special tax office in April catering to wealthy Jakarta residents, in a move that could raise income tax revenue by focusing on an estimated 1,200 taxpayers with assets of more than Rp 100 billion ($8.
Fri, 13 Mar 2009
Smothered by Illegal Textiles
Despite government efforts to tighten supervision of ports and prevent the smuggling of foreign-made goods, illegal textiles and clothing from China continue to flood into the local market, the Indonesian Textile Association, or API, said.
Thu, 12 Mar 2009
Agriculture minister mulls quotas on beef imports
Mustaqim Adamrah, THE JAKARTA POST, JAKARTA The government will impose quotas on beef imports to try to safeguard local cattle farmers from a wave of imports from New Zealand, Australia and Brazil, Agriculture Minister Anton Apriyantono says.
Thu, 12 Mar 2009
Total workers laid off reach over 200,000: Apindo
Alfian, THE JAKARTA POST, JAKARTA The wave of layoffs amidst the economic downturn has affected 237,500 workers nationwide between October and March, far exceeds government reports.Indonesian Employers Association (Apindo) chairperson Sofyan Wanandi said on Wednesday that Apindo has collected data...
Thu, 12 Mar 2009
Ministry Sounds Warning On Manufacturing Growth
In yet another warning that Indonesia is far from being immune to the global economic turmoil, the government has once again cut its target for domestic manufacturing growth, on the back of lower expectations of overall economic growth, a senior official at the Industry Ministry said on Wednesday.
Wed, 11 Mar 2009
Exports tumble in January
January exports fell a worse-than-expected 36%, the biggest annual decline in more than 22 years, as global demand for key commodities such as palm oil and rubber slumped, according to data released on Monday by the Central Bureau of Statistics.
Wed, 11 Mar 2009
First disbursement of stimulus March 18
The government will move quickly to disburse money into the economy in an attempt to boost activity and create employment.The first disbursement of some Rp12.2 trillion ($1.01 billion) in infrastructure funds will take place by March 18, Finance Minister Sri Mulyani Indrawati said late Thursday,...
Wed, 11 Mar 2009
Investing amid downturn
The US$6 billion South Korean companies committed to investing in six energy development projects in Indonesia under the memoranda of understanding, signed last week on President Lee Myung-bak’s three-day visit here, is really a confidence-building deal amid the global economic downturn.
Wed, 11 Mar 2009
Miners aiming high amid lower demand this year
Alfian , THE JAKARTA POST , JAKARTA Amidst the global economic downturn, local mining companies have set higher production targets this year primarily due to last year’s shortfalls.Miners recently submitted production plans to the government with output increases seen in all commodities -...
Wed, 11 Mar 2009
Adidas’ supplier faces bankruptcy suit
Ika Krismantari , THE JAKARTA POST , JAKARTA The local supplier of Adidas shoes PT Prima Inreksa Industries (PII) is facing bankruptcy litigation for failing to pay debts worth more than US$37 million.The plaintiffs are PII leather supplier CV Cisarua and state owned Bank Negara Indonesia (BNI).
Wed, 11 Mar 2009
Indonesia coal, tin quota hit by crisis
JAKARTA (Reuters) - Indonesia, the world's top exporter of thermal coal, may have overestimated the amount of coal needed for the domestic market in 2009 due to the global financial crisis, a senior government official said on Tuesday.
Wed, 11 Mar 2009
Dairy Industry Denies Monopoly Claims
A dairy industry association on Tuesday denied allegations by the country’s antimonopoly watchdog that the industry has put together a contract to monopolize the trading of fresh milk.Teguh Boediyatna, chairman of the National Milk Council, an association established by dairy processors, said the...
Tue, 10 Mar 2009
South Korea Forum Yields $6 Billion
Indonesia inked eight agreements worth up to $6 billion with South Korean firms during a forum held in Jakarta on Saturday, the head of the country’s investment coordinating board, or BPKM, said on Saturday.
Tue, 10 Mar 2009
Indonesian CDMA operators offer mobile broadband
Indonesian CDMA operators Mobile-8 Telecom and Smart Telecom have launched commercial CDMA2000 1xEV-DO services to counter 3G/W-CDMA offerings of rival cellcos such as Telkomsel, Indosat and Excelcomindo (XL).
Tue, 10 Mar 2009
BKPM: Indonesia’s motorcycle market still wide open
The head of Indonesia's Capital Investment Coordinating Board, M Lutfi, said Saturday that the opportunity for new investors to gain a share in the country's motorcycle market was still wide open.He made the statement after speaking on "Investment Climate and Economic Prospect of...
Tue, 10 Mar 2009
India postpones FTA with ASEAN
Lilian Budianto, THE JAKARTA POST, JAKARTA Six years of negotiations have yet to convince India to sign a much-awaited free trade deal with ASEAN, as scheduled last week during the group’s summit.India would only ink a deal after it concludes its April general elections.
Tue, 10 Mar 2009
World Bank Supports Proactive Indonesian Response to Global Financial Crisis
Board of Executive Directors approves US$ 2 billion loan to ensure continuity of public investments during global financial crisis and support market borrowings by the Government WASHINGTON DC, March 3, 2009 – The World Bank’s Board of Executive Directors today approved a unique US$ 2 billion...
Sun, 08 Mar 2009
Export credit regulation on commodities delayed
A government regulation requiring exporters of commodities to have letters of credit (L/C) for the shipment of goods worth over US$1 million has been delayed.Trade Minister Mari Elka Pangestu said Thursday the postponement of the regulation - which aims to ensure flows of foreign exchange - was...
Sun, 08 Mar 2009
S. Korea to produce wood pellet fuel in Indonesia
SEOUL, 7 March,2009 (WAM) -- South Korea signed an agreement with Indonesia Friday to produce wood pellets that are cheaper and cleaner to burn than fossil fuels, Yonhap News reported.The memorandum of understanding between the Korea Forest Service and Indonesia's Forest Ministry calls for 200,000...
Sun, 08 Mar 2009
Ras Al Khaimah invests into Indonesian coal infrastructure
RAK Minerals and Metals Investments (RMMI) has announced its interest in the Indonesian province of East Kalimantan’s coal infrastructure, on behalf of the Government of Ras al Khaimah. Investments are planned to be made by RMMI into the coal infrastructure in East Kalimantan.
Sat, 07 Mar 2009
Sulawesi Projects May Be Scrapped Due to Graft
Two major infrastructure projects said to be worth Rp 100 billion ($8.3 million) in South Sulawesi Province may have to be cancelled if they are connected to the bribery arrests on Monday of three individuals, including a former lawmaker and a Transport Ministry official, said Jusman Syafel Jamal,...
Fri, 06 Mar 2009
Regional autonomy way off track, expert says
Ten years down the track, regional autonomy may be doing more harm than good, the founding father of the country’s current self-reliance model says.“The practice of regional autonomy has strayed far from its initial path,” Ryaas Rasyid, a former director general of regional autonomy and...
Fri, 06 Mar 2009
Government Re-examines Infrastructure Project
TEMPO Interactive, Jakarta: Government is reexamining all infrastructure project plans after global investment dropped. Deputy for Coordinating Minister for the Economy for Infrastructure and Area Development Division, Bambang Susantono, said the government will prioritize projects that are...
Fri, 06 Mar 2009
Batam to see Rp 1.5 trillion investment in one integrated resort
Fadli , The Jakarta Post , Batam | Thu, 03/05/2009 1:51 PM | BusinessPT Grand Uway Development will open a 15 hectare integrated tourism and business resort worth Rp 1.5 trillion (US$124.5 million) in Batam, Riau Islands.
Thu, 05 Mar 2009
City to revive tourism in 1,000 Islands
Triwik Kurniasari, The Jakarta Post, JAKARTA After more than a decade of tourism malaise on the Thousand Islands regency, the city has plans in store for a revival.The city administration will procure more accessible public transportation to serve the regency, including enlarging its airport runway...
Thu, 05 Mar 2009
$100m mega jatropha project
Ika Krismantari, The Jakarta Post, JAKARTAMother Earth Plantations Pte (MEP) is investing in the first mega jatropha project in Indonesia, with US$100 million over four years in West Timor.Singapore-based MEP president Roland A.
Thu, 05 Mar 2009
ICD Chief: Foreign Investors Want Property Ownership
The Islamic Corporation for the Development of the Private Sector is a multilateral affiliate of the Islamic Development Bank Group. Established in Jeddah in 1999, it has a mandate to support the economic development of its member countries by financing private sector projects in accordance with...
Wed, 04 Mar 2009
Less imported raw materials: Industrial output to fall
In addition to declining exports, Indonesia’s industry is under another threat of equally great significance - a continued drop in imports of key raw materials.Such conditions could have a major impact on the unemployment rate, said Edy Putra, a deputy to the Coordinating Minister for the...
Wed, 04 Mar 2009
CPO Imports to European Union Increase
TEMPO Interactive, Jakarta: Crude Palm Oil (CPO) imports from Indonesia and Malaysia to the European Union (EU) increased last year. At the same time however, the EU is discussing a proposal accusing Indonesia of deforestation.
Tue, 03 Mar 2009
Mining Law regulations expected by July: Ministry
The Energy and Mineral Resources Ministry expects implementing regulations for the recently enacted Mining Law to be ready by July at the latest, hopefully clearing the way for a resumption of investment in the sector, The Jakarta Globe reported.
Tue, 03 Mar 2009
Govt. expects higher 2009 oil exploration: BP Migas
The government expects oil contractors operating in Indonesia to boost exploration spending by 50% to $2.7 billion in 2009 from $1.8 billion in 2008, a senior official at the upstream oil and gas regulatory body told Reuters on Friday.
Tue, 03 Mar 2009
Tourism revenue predicted to decline 10%
Earnings from the tourism sector are forecast to shrink 10% to $6.75 billion this year from $7.5 billion last year despite an expected increase in the number of visitors, an official from the Tourism and Culture Ministry said, Asia Pulse reported.Last year, 6.
Tue, 03 Mar 2009
Hutchison to invest up to $1B in Indonesia
Hong Kong-based telecommunications company Hutchison Telecom International says it is committed to Indonesian and will invest up to $1 billion until 2010, Asia Pulse reported.The statement came after reports that it would abandon projects in the country and was seeking buyers for its stake in PT...
Tue, 03 Mar 2009
Foreign investment jumps 61% in January: BKPM Foreign direct investment jumped 61% to Rp6.39 trillion ($536 milli
Foreign direct investment jumped 61% to Rp6.39 trillion ($536 million) in January from a year ago despite the global economic downturn, the Investment Coordinating Board (BKPM) said on Tuesday, Reuters reported.
Tue, 03 Mar 2009
Indonesia's Exports Plunge Most in 22 Years, Inflation Slows Email | Print | A A A By Aloysius Unditu and Ari
March 2 (Bloomberg) -- Indonesia's exports fell the most in more than 22 years in January and inflation slowed the following month, increasing scope for the central bank to reduce its benchmark interest rate this week.Overseas shipments plunged 35.5 percent to $7.
Tue, 03 Mar 2009
UAE fund plans Indonesia coal rail link
JAKARTA, March 2 (Reuters) - A United Arab Emirates' fund signed a memorandum of understanding on Monday with an Indonesian provinicial government on developing a 125 km (80 mile) rail link and jetty for coal transportation in East Kalimantan.
Tue, 03 Mar 2009
Indonesia realizes promotion to Middle East still insufficient
Jakarta (ANTARA News) - Indonesia realizes that its promotion to the Middle East is still insufficient causing investment from the region remains low.The country`s state enterprise minister, Sofyan Djalilm said here on Monday "we are still under-promoted in the Middle East so that only few...
Tue, 03 Mar 2009
Exports Tumble in January As Global Slump Hits Home
Indonesia’s exports skidded dramatically in January, by 36.8 percent year-on-year and 17.70 percent month-on-month, the Central Statistics Agency, or BPS, reported on Monday.Demand weakened in every major trading destination. Imports fell as well, down 17.63 percent from December to $6.
Tue, 03 Mar 2009
$3 billion WIEF Investment Falls Short of Goal
Indonesia’s high hopes of netting a hefty investment package at the much-awaited fifth World Islamic Economic Forum were sobered on Monday with conference organizers announcing oil-rich Middle Eastern countries were only bringing $3 billion in potential investments to the table, well short of the...
Mon, 02 Mar 2009
Jakarta Predicted to be Underwater By 2012
we're sinking!!Jakarta Predicted to be Underwater By 2012TEMPO Interactive, Jakarta:Firdaus Ali, a technical environment researcher from the University of Indonesia, predicts that Jakarta will be underwater before the year 2012.
Mon, 02 Mar 2009
High Hopes That Economic Forum Will Pay Off
Indonesia will try to lure Middle Eastern investors to put their money to work in Southeast Asia’s largest economy during the fifth World Islamic Economic Forum, or WIEF, being held in Jakarta from Monday through Tuesday.
Fri, 27 Feb 2009
Government sets Rp 90 trillion to promote local products
Businesses may see Rp 90 trillion (US$7.5 billion) in extra demand for domestic products this year, as the government intensifies efforts to bolster the local market amid rapidly declining global demand.
Fri, 27 Feb 2009
Mining law digs up new doubts
Alfian, The Jakarta Post, JAKARTADespite the enactment of the new mining law, Indonesia will probably continue to suffer from a prolonged investment drought in the mining sector, a survey suggests.A recent survey by mining industry consultants PricewaterhouseCoopers (PwC) shows investors conclude...
Fri, 27 Feb 2009
New Idea to Boost Economy: Should Police Wear Batik? The Minister of Industry is sticking to his gu
And use local laptops - i forget the brand, jesus what a shocker.
Fri, 27 Feb 2009
New Idea to Boost Economy: Should Police Wear Batik? The Minister of Industry is sticking to his gu
They should also all be made to drive Indonesian cars and use Indonesian mobile phones.
Fri, 27 Feb 2009
Indonesia still on radar of Malaysian planters
It remains the choice location for oil palm cultivationPETALING JAYA: The current low crude palm oil (CPO) prices and global economic slowdown will not hinder most Malaysian plantation companies from acquiring additional green fields or existing oil palm plantations in Indonesia.
Fri, 27 Feb 2009
Indonesian Biofuels Subsidy Row
ImageThe world's biggest producer of palm oil can't get it together to make biofuelsThe Indonesian government, confronted with a collapse in demand for biofuels and resistance from the state energy company Pertamina to continue to sell biofuels at a loss, is attempting to push a proposal through...
Fri, 27 Feb 2009
National or Global Interest?
ImageIndonesia's macro performance doesn't look that bad – but keep protectionism at bayIndonesian Industry Minister Fahmi Idris and Trade Minister Mari Pangestu are having a row about shoes. Neither of them wants to be in the other one´s shoes but both are treading on each other's feet.