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Fri, 09 Oct 2009
Peabody Energy opens office in Indonesia
ST. LOUIS -- Coal company Peabody Energy Corp. said Thursday that it opened an Indonesian office to take advantage of coal sourcing opportunities and expand its presence in the marketplace."The Pacific markets are driving global demand for coal and are expected to achieve 5 to 10 percent...
Fri, 09 Oct 2009
Businesses Clamor for Currency Stability As Rupiah Continues Its Recent Surge
The recent rapid rise of the rupiah against the US dollar has drawn a mixed bag of responses from industrial players, but most of them agreed that currency stability was of paramount concern.Hidayat Triseputro, the executive director of the Indonesian Iron and Steel Industry Association, said the...
Fri, 09 Oct 2009
PLN Reveals $2.2b Power Plan to Link Sumatra and Java
State utility PT Perusahaan Listrik Negara plans to invest $2.2 billion in an electricity-transmission network in Sumatra, including an underwater link connecting the Sumatra and Java grids for the first time, a company official said on Thursday.
Fri, 09 Oct 2009
Investment in Indonesia’s Papua Province a Hard Sell
Despite the presence of heavyweight investors, many of those attending “Papua Investment Day” at the Four Seasons Hotel in Jakarta on Thursday said they didn’t expect too much to come out of the conference.
Thu, 08 Oct 2009
Mandiri hosts Papua investment day
State-owned bank PT Bank Mandiri hosted Papua Investment day on Thursday as part of efforts to persuade businessmen to invest in Papua and West Papua provinces.The two-day-event, which will conclude on Friday, is attended by 60 investors, 11 state enterprises, and Papua and West Papua governments.
Thu, 08 Oct 2009
Dingxin, Bintangdelapan set up nickel joint venture
Stainless steel producer Dingxin Group of China and nickel mining company PT. Bintangdelapan Mineral of Indonesia have agreed to form a joint venture company in Central Sulawesi to mine and process nickel.
Thu, 08 Oct 2009
Kadin calls for incentives for investors in Papua
Jakarta (ANTARA News) - The Indonesian Chamber of Commerce and Industry (Kadin) said that businesses which wanted to invest in Papua should be given incentives such as tax holidays in order to accelerate growth in the region.
Thu, 08 Oct 2009
Entrepreneurs Asked to Help in Eradicating Corruption
TEMPO Interactive, Jakarta: Entrepreneurs are being asked to play an active role in eradicating corruption. According to Transparency International, the funds found in corruption cases come from the private sector.
Thu, 08 Oct 2009
Furniture Makers Eye China’s EU Markets
Eco-labeling and better quality control have put Indonesian furniture makers in position to grab some of China’s share of the European Union market, the industry association said on Wednesday.All members of the Indonesian Furniture Industry and Handicrafts Association (Asmindo) that export to...
Thu, 08 Oct 2009
New Restrictions Set to Affect Indonesia’s Commercial Farms
The Agriculture Ministry is considering a plan to issue restrictions affecting commercial farms, including a provision that could limit crop exports, a senior official said on Wednesday. The move is to protect domestic food security.
Thu, 08 Oct 2009
Norway’s Hydro Considering $4b Investment in Indonesia
Giant Norwegian aluminium producer Hydro could invest up to $4 billion in a proposed alumina plant with state miner PT Aneka Tambang in Tayan, West Kalimantan, if Russia’s United Company Rusal decides to pull out of an earlier partnership agreement, a senior government official said on Wednesday.
Thu, 08 Oct 2009
RI economy may expand 5.9 percent
Indonesia's economy may expand more than 5.9 percent next year if the government pushes efforts to support the tradable sector that produces goods, economist Faisal Basri said Wednesday."The economy may expand 5.9 percent without the government doing anything (significant).
Thu, 08 Oct 2009
TI: 60 percent of Indonesian businesspeople pay bribes
Most business players in the country tend to pay bribes to public officers, including government officials, to smooth their business, a survey conducted by the Transparency International (TI) reveals.TI found in its latest survey that corruption remained unchecked in Indonesia, involving up to 60...
Thu, 08 Oct 2009
Mining to attract $6b: BKPM
Alfian, The Jakarta Post, Jakarta Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part because of a greater degree of certainty following the enactment of the mining law, theInvestment Coordinating Board (BKPM) says.
Thu, 08 Oct 2009
Govt imposes safeguard on nails
Mustaqim Adamrah, The Jakarta Post, Jakarta The government has imposed a safeguard measure to protect local producers of nails and wire against a spike in imports from China and Malaysia, by introducing additional fees on imported goods of this type.
Thu, 08 Oct 2009
House hits at foreign oil firms
Two days before the end of its five-year tenure on Sept. 30, the House of Representatives took a final shot at foreign oil companies, urging the government to submit a new bill to replace Law No. 22/2001 on oil and gas, arguing the present law is far too loaded in favor of foreign contractors.
Thu, 08 Oct 2009
Faisal Basri Offers Five Strategic Development Targets in His New Book
TEMPO Interactive, Jakarta: An economist from the University of Indonesia, Faisal Basri, is recommending five strategic targets to the next government in order to achieve the acceleration of equal and fair economic growth.
Thu, 08 Oct 2009
Indonesia`s petrochemical industry needs US$22.6 bln in new investment
Jakarta (ANTARA News/Asia Pulse) - Indonesia's petrochemical industry needs an additional investment of U$22.6 billion in the upstream sector in the next five years to support the downstream sector of the industry, PT Tuban Petrochemical Industries said.
Thu, 08 Oct 2009
President to launch Palapa ring project
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono is scheduled to officially launch the physical construction of the Palapa Ring project on October 12, 2009.Communication and Information Ministry spokesman Gatot S.
Wed, 07 Oct 2009
Indonesian Government’s Failure To Balance Books Hurting Reforms
In a democratic nation, transparent financial reporting is a crucial tool for citizens to use in monitoring the way the government spends their money.The Indonesian government, however, is regularly criticized for the low quality of its financial reports and the lack of competency within its...
Wed, 07 Oct 2009
Furniture Exports to Fall 18% This Year
Even as furniture makers target new markets, overall furniture exports are expected to decline 18 percent this year as demand in Europe and the United States sags because of the recession.In contrast, domestic handicraft makers are expected to be largely unaffected by the crisis.
Wed, 07 Oct 2009
US-Indonesia Bilateral Agreement May Spur Trade Liberalization
The US-Indonesia bilateral partnership agreement to be signed at the end of this year could lead to the removal of tariffs on some Indonesian products such as textiles, said representatives of the business community.
Wed, 07 Oct 2009
Chinese Bank May Pull Out Of Sumatra Coal Railway
The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned coal miner PT Tambang Batubara Bukit Asam because the scheme has yet to receive the necessary permit from the Transportation Ministry, Bukit Asam’s top executive said on Tuesday.
Wed, 07 Oct 2009
Indonesia facilitates investments from China
Indonesian foreign investment coordinating agency of BKPM (Badan Koordinasi Penanaman Modal) has set up a particular service desk aimed at facilitating investors from giant economies like China to do business and pump more investments in Indonesia, BKPM minister Muhammad Lutfi said on Tuesday.
Wed, 07 Oct 2009
Alternate power blackout in Bali imminent
The Denpasar branch of state owned electricity company PLN will apply alternate power blackouts in Bali for 56 days starting Oct. 10.Kompas.com reported Wednesday that the blackout would be inevitable as gas-fired power plant (PLTG) Gilimanuk will undergo maintenance, which will decrease the power...
Wed, 07 Oct 2009
Lady Luck helps Indonesia survive crisis: Economist
Indonesia has managed to cope with the deteriorating impacts of global economic crisis not because of the country’s strong economic structure, but rather due to "luck", economist Faisal Basri said Wednesday.
Wed, 07 Oct 2009
Unbalanced Oil and Gas Profit-Sharing
TEMPO Interactive, Sumenep:Energy and Mineral Resources Office chief in Sumenep, Madura, Mohammad Fadilah, estimated that despite the many foreign oil and gas companies operating in the area, the profit sharing formula for oil and gas revenues was not balanced.
Wed, 07 Oct 2009
Indonesia to Launch Investment Guide During Asia Pacific Week
TEMPO Interactive, Jakarta: Indonesian Embassy in Germany in cooperation with the National Investment Board will launch a guide book on investing in Indonesia during the Indonesian Business Day on October 12th, officials informed on Tuesday.
Wed, 07 Oct 2009
Indonesian Rupiah Reaches One-Year High as Foreign Investment Increases
The rupiah strengthened to its highest level in a year on Tuesday, as the country’s strong economic prospects and comparatively high interest rates boosted foreign investment.It rose 1.2 percent to 9,437 to the US dollar as of the stock market’s close and briefly touched 9,428, the highest...
Tue, 06 Oct 2009
Domestic Shipping Firms Ready for New Rules On Coal, Industry Group Says
The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station coal to be carried by Indonesian-flagged vessels from Jan. 1 next year.Around $4 billion has been invested in preparation for the change so far, said Indonesian National Ship Owners...
Tue, 06 Oct 2009
Advertising on digital and mobile media to boom: Research
Advertisers will soon shift a significant amount of their spending to digital and mobile media, threatening print and even TV media, a recent survey predicts.Global business consultancy Pricewaterhouse Coopers says that global advertising spending on the Internet and mobile media will increase...
Mon, 05 Oct 2009
GE sees Indonesia as regional locomotive assembly hub
General Electric is considering making Indonesia its assembly hub for locomotives for the Asia market, hoping to capitalize on the rising demand in the country and other countries in the region.CEO Jeffrey Immelt said last week that the assembly plant would be developed in cooperation with local...
Mon, 05 Oct 2009
Eyeing investment opportunities in Palu
Ruslan Sangadji, The Jakarta Post, Palu Palu, the capital of Central Sulawesi, which commemorated its 31st anniversary on Sept. 27, is still relatively young for a city. So much so, that it has had to set up various development programs not to be left behind other cities in Indonesia.
Mon, 05 Oct 2009
New Energy Minister Should be a Professional
TEMPO Interactive, Jakarta: The position of the Energy and Mineral Resources Minister in the future cabinet should be filled by a person understanding the weaknesses of oil, gas, and mining management systems.Therefore, this new minister should be able to take action to fix it.
Mon, 05 Oct 2009
Commerce Chamber Seeks Intervention to Accelerate Infrastructure Projects
The Indonesian Chamber of Commerce and Industry is urging the new government to issue an emergency regulation to address the slow pace and high cost of land acquisition for public infrastructure projects.
Mon, 05 Oct 2009
Number of Foreign Tourists Coming to Indonesia Plummets
TEMPO Interactive, Jakarta:The number of foreign tourists coming to Indonesia in August 2009 plummeted by 5,46 percent or 566.800 compared to those in August 2008. Compared to July 2009, the number of foreign tourists in August 2009 also went down by 4,49 percent.
Mon, 05 Oct 2009
Crackdown on Illegal Bali Hotels and Clubs Begins
Badung Officials Start Closing and Sealing of Illegal Hotels and Nightspots in Kuta and Legian Area of Bali.Community enforcement officers have finally begun to take decisive action against Badung regency accommodation and night entertainment venues who have failed to secure required licenses and...
Sun, 04 Oct 2009
Expecting more blackouts
it's news that it's *still* news, that nothing has changed.and jakarta post editorials are always like this. they are recycled frequently. saves thinking.
Sun, 04 Oct 2009
Yogyakarta to develop Batik-related tourism
Yogyakarta (ANTARA News) - The Yogyakarta municipal administration intends to develop batik-related tourism in 2010 now that UNESCO has declared it a world cultural heritage item."We want to develop batik-related tourism next year in which we will acquaint tourists with the batik-making...
Sun, 04 Oct 2009
Expecting more blackouts
As the country faces a severe power shortage, many customers of state-owned electricity firm PT PLN, especially outside Java, have been long familiar with frequent blackouts and have prepared to face the crisis as PLN cannot do much to help. And now Jakarta is eventually hit by the blackout threat.
Fri, 02 Oct 2009
Inflation accelerates, exports improve
Prices accelerated in September due to higher demand in the fasting month and Idul Fitri holiday, according to the Central Statistics Agency (BPS), prompting predictions that the central bank will maintain its benchmark rate.Also on Thursday, BPS announced that August’s exports had reached US$10.
Fri, 02 Oct 2009
Flipping Burgers: Bambang Turns Big Macs to ToniJack’s
Quoting: JGFlamboyant and controversial businessman Bambang Rachmadi is trying to turn around his recently troubled business fortunes by transforming his 13 former McDonald’s fast food outlets into a new food brand, “ToniJack’s Indonesia.
Fri, 02 Oct 2009
Flipping Burgers: Bambang Turns Big Macs to ToniJack’s
Flamboyant and controversial businessman Bambang Rachmadi is trying to turn around his recently troubled business fortunes by transforming his 13 former McDonald’s fast food outlets into a new food brand, “ToniJack’s Indonesia.
Fri, 02 Oct 2009
Indonesian Export Recovery Picking Up Pace
Exports rose 8.9 percent in August on a monthly basis, the Central Statistics Agency announced on Thursday, a result analysts said was further confirmation of a nascent economic recovery among the country’s major trading partners.The agency announced that exports in August rose to $10.
Thu, 01 Oct 2009
Japan Servo shuts down three plants in Batam
Batam (ANTARA News/Asia Pulse) - Japanese electronics company Japan Servo has shut down three of its seven plants in the industrialized island of Batam because of declining orders.Since early this year the company had slashed the number of its workers, Indonesian manpower office head Rudi...
Thu, 01 Oct 2009
Incoming Indonesian Government Urged to Untangle Business Regulations
The Indonesian Employers Association is urging the new government to harmonize central and local regulations in a bid to improve the business climate and encourage investment.The coordination of regulations across different levels of government is the top priority among 10 recommendations put forth...
Thu, 01 Oct 2009
Importers plead for end to customs `extortion'
The Association of Indonesian National Importers (Ginsi) has accused the Finance Ministry's Directorate General of Customs and Excise of years of abuse, and pleaded with the Supreme Audit Agency (BPK) to step in.
Thu, 01 Oct 2009
Corruption busters busted
This was really an anti-climax that will put off investors and disillusion most of the voters who re-elected President Susilo Bambang Yudhoyono last July.Under public-opinion pressures to meet the deadline, the House of Representatives rushed to approve the Corruption Court bill one day before the...
Thu, 01 Oct 2009
Dubai Drydocks World builds employee training centre
Riau Islands Governor Ismeth Abdullah inaugurated on Monday the Batam Training centre established by Dubai Drudocks World, Southeast Asia's biggest shipbuilder, which will train the company's current and prospective employees in an effort to improve their skills in shipbuilding, ship repair and...
Wed, 30 Sep 2009
Singapore's DBS says targets growth in Indonesia
SINGAPORE, Sept 30 (Reuters) - Singapore's DBS (DBSM.SI: Quote, Profile, Research) plans to more than double its Indonesian branch network over the next three years and will look for acquisitions in Southeast Asia's biggest economy, its chairman said on Wednesday.