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Fri, 07 Nov 2008
Govt. lowers 2009 agricultural growth target
The Agriculture Ministry has lowered the growth target for the agricultural sector for 2009 to 4.2% from 4.6% as the exports of a number of farm commodities decline due to the current global financial crisis.
Fri, 07 Nov 2008
House approves macro assumptions for 2009
The House of Representatives on Thursday approved macroeconomic assumptions for use in calculating the 2009 state budget, Dow Jones reported."We have agreed with the government that economic growth (will be assumed at) 6% and inflation at 6.
Fri, 07 Nov 2008
Govt. takes more steps for business survival
The government took more steps last week to improve the prospects of businesses under threat from the effects of the global financial crisis, while the capital market improved at the end of the week in line with gains on Wall Street and regional markets.
Fri, 07 Nov 2008
What is destroying our rainforests? Greed, palm oil
Rita Sastrawan, Paris The establishment of oil-palm plantations in Kalimantan and Sumatra poses the greatest threat to orangutans today. In fact, the clearing of forest and the establishment of oil-palm plantations has a negative impact not only on orangutan populations but also on climate, the...
Fri, 07 Nov 2008
Chinese fruit has replaced US, A`lian products in RI market
Jakarta, (ANTARA News) - Fruit imported from China has over the past few years taken over the dominant position of US and Australian fruit in the Indonesian market, a horticulure researcher said.Such fruits as apples, oranges or pears in the Indonesian market in the past always came from the US or...
Fri, 07 Nov 2008
Australian firm wins Indonesia iron mining contract
Australian mining firm Indo Mines Limited has secured Indonesian government approval to mine iron ore deposits in Kulon Progo, Yogyakarta, with a total investment commitment of US$1.7 billion.The company's local subsidiary, PT Jogja Magasa Iron, inked a 30-year work contract with the government...
Fri, 07 Nov 2008
Property sector heads for slowdown
The property business in Jakarta and surrounding areas is heading for a slowdown next year due to increases in interest rates, inflation, prices of materials and rental costs, according to a property consulting company.
Fri, 07 Nov 2008
Indonesia revises tourist targets
Erwida Maulia, The Jakarta Post, JakartaThe global economic slowdown has forced the tourism ministry to revise down its targets for numbers of foreign tourist arrivals for 2008 and 2009 by 9 percent and 20 percent, respectively.
Fri, 07 Nov 2008
Impact of global crisis will be felt as early as end of year: Central Bank
Aditya Suharmoko, The Jakarta Post, Jakarta Having expanded by a fairly healthy 6.4 percent in the third quarter, the economy is facing a slowdown in the last quarter as it begins to feel the impacts of the global crisis, according to the central bank.
Fri, 07 Nov 2008
Kadin wants more funds for real sector
Mustaqim Adamrah, The Jakarta Post, JakartaThe Indonesian Chamber of Commerce and Industry (Kadin) has asked the government to add Rp 10 trillion (US$950 million) to the funds set aside for next year to help cushion the real sector from the impact of the global economic slowdown.
Fri, 07 Nov 2008
Indonesia to blacklist 30 Indian companies
NEW DELHI: In a move that could sully India’s image in the international market, top vegetable oil supplier, Indonesia, has accused 30 Indian companies, including Nafed, of taking it for a ride.What’s worse, some of these defaulters are allegedly using public sector companies MMTC, PEC and STC...
Fri, 07 Nov 2008
Taiwan Financier to Invest Rp200 Billion
Friday, 07 November, 2008 | 08:41 WIBTEMPO Interactive, Jakarta: The chairman of the Ceramic Industry Association Achmad Wijaya said a businessman from Taiwan is interested in the ceramics industry in Indonesia and intends to invest Rp200 billion next year.
Mon, 03 Nov 2008
Harvey Nichols opens amid economy slowdown
I was in Harvy Nics yesterday. Somehow I dont think The people back in the UK would be happy with the store in the UK. For whatever reason the Brand name for Indonesia was given to Mitra Adiperkasa who have failed to deliver a store that lives up to the reputation of the Brand.
Mon, 03 Nov 2008
Harvey Nichols opens amid economy slowdown
The global financial crisis has affected the fashion industry, prompting one of the British high-end fashion retailers Harvey Nichols to set modest targets for its newly opened store in Jakarta.The British luxury fashion retailer opened late October its 12th store in Jakarta amidst a weakening...
Sun, 02 Nov 2008
Government Mulls to Use Biofuel to Generate Energy
The eruption of the Lusi mud volcano in Indonesia was caused by drilling for oil and gas, a meeting of 74 leading geologists has concluded.Lusi erupted in May 2006 and continues to spew out boiling mud, displacing around 30,000 people in East Java.
Sat, 01 Nov 2008
Government Mulls to Use Biofuel to Generate Energy
Friday, 31 October, 2008 | 18:17 WIBTEMPO Interactive, Jakarta: Ministry of Energy and Mineral resources said the government will impose the Domestic Market Obligations on biofuel producers to prevent fuel shortage in local market.
Sat, 01 Nov 2008
President: good public services may boost economic growth
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono has said good public services may boost the country`s economic growth.Speaking at a function marking the conferment of prime service awards at the State Palace here late Friday, President Yudhoyono said the economy would grow significantly...
Sat, 01 Nov 2008
Businesses give mixed reaction as provinces raise minimum wages
Tifa Asrianti, The Jakarta Post, Jakarta Several provinces have announced a significant rise in workers’ minimum wage, but the amount of the increase is facing opposition from certain business groups.
Fri, 31 Oct 2008
European investors view on Indonesia investment condition
Jakarta (ANTARA News) - Managing Director of Indonesian Netherlands Association, Elmar Bouma delivered his remarks on the policies application of investment service in Indonesia from European investors` perspectives in a national seminar entitled "Regional Administration Strategies in...
Fri, 31 Oct 2008
Zero percent tax on CPO exports not to raise cooking oil prices
Jakarta (ANTARA news) - The zero percent tax on crude palm oil (CPO) exports will not raise domestic cooking oil prices, an official said."I think it will not (raise cooking oil prices) because our system is like that.
Fri, 31 Oct 2008
Jakarta property feels the pinch from global financial crisis
Utami Prastiana, Consultant It is now almost certain the global economy is mired in a recession due to the devastating impact of the United States financial crisis which has spread to Europe, setting off negative sentiment while unleashing tremendous downward pressures on Asian financial markets.
Fri, 31 Oct 2008
Crisis may delay footwear investment
Investors planning to invest US$200 million to build new footwear factories, or expand existing ones, may put their plans on hold, due to global financial uncertainties.The concern was revealed Wednesday evening during a meeting between ministry officials concerned with the industry, led by...
Fri, 31 Oct 2008
Indonesia: Economically Shaken but Not Stirred - Yet
Wednesday, 29 October 2008The archipelago nation seems to be doing some things rightCould the clouds over China’s Pearl River Delta have a silver lining for Indonesia? It is one of several unknowns facing an Indonesian economy battered, like most others, by the sudden change in global fortunes.
Thu, 30 Oct 2008
PLN operates first power plant fired by crude palm oil
I would sure like to see the long term contract wording regarding the purchase price of the palm oil for that PLN plant. Wonder if the price is set in conjunction with the one on the world market that fluctuates as well as a certain percentage of profit or they set a 2 yr or 3 yr price based on the...
Thu, 30 Oct 2008
PLN operates first power plant fired by crude palm oil
Following the issue of a government regulation mandating the use of biofuel in all sectors, state power company PT PLN has started to operate a power plant fired by crude palm oil (CPO) which it claims to be the first of its kind in the Asia Pacific region.
Wed, 29 Oct 2008
Corruption eradication must be accompanied by improved public services
Jakarta (ANTARA News) - Corruption Eradication Commission (KPK) Chairman Antasari Azhar said efforts to combat corruption should be conducted in parallel with improvements in various public services in the community.
Tue, 28 Oct 2008
Capital Investment to commit $1B
Which is in stark contrast to a message that was passed onto me from an American Multinationals CFO within Indonesia!"We will require a review of all outstanding contractual obligations in foreign currency due to the current dollar strengthening.
Tue, 28 Oct 2008
US companies eye Indonesia amid crisis
At least 25 US companies have expressed interest in expanding business and shifting investment to Indonesia in an effort to secure capital from the impact of the global financial turmoil, Industry Minister Fahmi Idris said Wednesday, Xinhua reported.
Tue, 28 Oct 2008
Capital Investment to commit $1B
Capital Investment Group, an investment company from the United Arab Emirates, will spend at least $1 billion in direct investment and share purchases in Indonesia, a company official said, Investor Daily reported.
Tue, 28 Oct 2008
Investment up 10.9% from January to August
Investment grew 10.9% from January to August compared to the same period last year at $47.55 billion, Antara reported.The chairman of the Capital Investment Coordinating Board, M. Lutfi, said on Monday that foreign investment growth in the period reached 42% from $31.33 billion in 2007.
Tue, 28 Oct 2008
Govt. reduces export growth target
The government had reduced its export growth target for next year to below 11.9% because of slower demand from Japan, the US and Europe, Trade Minister Mari Pangestu said on Tuesday, Bloomberg reported.The three regions account for about a third of Indonesia's export sales, she said.
Tue, 28 Oct 2008
Minister calls on companies to be alert on debt
Finance Minister Sri Mulyani Indrawati called on the private sector on Thursday to stay alert to problems emerging from dollar loans as the rupiah weakened in line with regional currencies.“As I have said before, with this adjustment we have to be careful and alert.
Tue, 28 Oct 2008
Government fast-tracks reform process
The Coordinating Ministry for Economic Affairs is accelerating work on the government’s latest package of reforms, grouped within Presidential Instruction No. 5 (Inpres 5), as a response to the global financial crisis.Dr.
Tue, 28 Oct 2008
Indonesia plans fiscal stimulus for businesses
JAKARTA, Oct. 27 (Xinhua) -- Indonesia planned to introduce fiscal stimulus for business, including subsidies and tax cuts in a bid to boost economy and purchasing power, a paper said here Monday.The weakening of global commodity prices and high interest rate had hampered Indonesian businessmen...
Tue, 28 Oct 2008
Riau Islands FTZs to cut red tape
Fadli, The Jakarta Post, BatamThe Batam, Bintan and Karimun (BBK) Special Economic Zone Commission has ensured speedy licensing procedures free from illegal levies in a bid to attract foreign investors impacted by the global financial crisis, given lower local production costs compared to other...
Mon, 27 Oct 2008
Govt should tidy Batam authority status soon
After years of uncertainty, the central government will clarify the status of the Batam Industrial Development Authority (BIDA) by the end of this year, Riau Islands Governor Ismeth Abdullah says.Ismet said he had sent a letter to President Susilo Bambang Yudhoyono, requesting an acceleration of...
Mon, 27 Oct 2008
Lawmakers push for value-added tax cut
Lawmakers have suggested a rate cut in value-added tax (VAT) in an amendment to the VAT and luxury tax law in the hope of making the country's manufacturing sector more competitive in coping with the impact of the global economic downturn.
Mon, 27 Oct 2008
Govt to end VAT, luxury tax and duties in FTZs
The government will soon abolish value-added tax (VAT), luxury tax and import duties on production goods in free trade zones (FTZs) in the Riau Islands province in a bid to stimulate businesses.The provincial administration and the customs and excise directorate general have finalized a draft...
Mon, 27 Oct 2008
Govt to end VAT, luxury tax and duties in FTZs Mustaqim Adamrah , The Jakarta Post , Singapore | Mon, 10/27/200
The government will soon abolish value-added tax (VAT), luxury tax and import duties on production goods in free trade zones (FTZs) in the Riau Islands province in a bid to stimulate businesses.The provincial administration and the customs and excise directorate general have finalized a draft...
Mon, 27 Oct 2008
China, Europe, Asia seek investment chance in Batam
Batam (ANTARA News) - Some companies from China, Europe and Asia were seeking opportunities of investment in Batam, as a result of batam`s participation in trade expo in Nanning, China."Many companies from many countries are seeking the chance of investment in Batam," Batam Mayor Ahmad...
Sun, 26 Oct 2008
Bali Public Demands Bupatis Follow the Rules
Confrontation Ahead for Pastika and Gede Agung?Bali's Governor Pledges to Enforce Zoning and Building Rules, Including Prosecuting Officials Who Issue Illegal Licenses and Permits.Bali News: Confrontation Ahead for Pastika and Gede Agung?(10/11/2008) Radar Bali reports that Bali's newly elected...
Sun, 26 Oct 2008
Bali Public Demands Bupatis Follow the Rules
Karangasem, not a surprise there heh Kuku.........
Sun, 26 Oct 2008
South Korea current largest buyer at trade expo
South Korea is currently the largest buyer at this year's Indonesian Trade Expo with a total transaction volume of US$4 million.Algeria, Pakistan and Bangladesh follow closely behind with $2.9 million, $1.5 million and $1.2 million, respectively, tempointeraktif.com reported Saturday.
Sun, 26 Oct 2008
Economic slowdown may hit office space, condominiums
Olivia Dameria, The Jakarta PostThe global economic slump is likely to hit Jakarta's property development business in 2009, particularly the office and condominium market, as demand is projected to slow due to a possible contraction in the country's economic growth, property consultant Provis says.
Sun, 26 Oct 2008
Bali Hotel and Resort Building Boom Continues
BCI Asia Report Counts 115 New Hotel & Resort Projects Across Indonesia in 2008.Bali News: Bali Hotel and Resort Building Boom Continues(10/25/2008) BCI Asia estimates that 115 new hotels are currently under development in Indonesia.
Sun, 26 Oct 2008
Bali Public Demands Bupatis Follow the Rules
Bali Post Poll Shows Overwhelming Support for Governor to Bring Free-Wielding Bupatis Into Line on Zoning ViolationsBali News: Bali Public Demands Bupatis Follow the Rules(10/25/2008) A poll conducted by Bali Post among 375 respondents in Bali showed widespread support for legal steps to be taken...
Sun, 26 Oct 2008
Little Sign of Weakening Arrivals
Bali by the Numbers: September Numbers Continue Year-Long Patterns of Record Setting Arrivals.(10/25/2008) For the month of September 2008 a total of 181,033 foreign visitors came to Bali, a jump of 18.69% over September 2007 (152,532).
Sun, 26 Oct 2008
Little Sign of Weakening Arrivals Bali by the Numbers: September Numbers Continue Year-Long Patterns of Record Setti
Bali by the Numbers: September Numbers Continue Year-Long Patterns of Record Setting Arrivals.(10/25/2008) For the month of September 2008 a total of 181,033 foreign visitors came to Bali, a jump of 18.69% over September 2007 (152,532).
Sun, 26 Oct 2008
Indonesia at the Crossroads (Sigh) Again
Indonesia at the Crossroads (Sigh) Again Written by Our Correspondent Friday, 24 October 2008In one direction beckons people like Sri Mulyani Indrawati, the country's finance minister. Clean, capable, she's the anti-politician Indonesians love and who foreign investors can't stop talking about.