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Monday, August 31, 2009
Government Books $7.58B in Non-Tax Revenue from Oil
As of June, the government has booked US$7.58 billion in non-tax revenue from the oil-and-gas sector, up by 20.3 percent from the target set in the state budget, upstream regulator BPMigas told legislators Monday.
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Banks' Plan to Cut Rates Expected to Spur Growth
Jakarta, - Real estate developers hailed 14 domestic banks' plan to lower their lending rates saying it may encourage the economy to perform better and in turn spur the growth of property industry.
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Minister Asks House to Amend Law on Terrorism
Jakarta - Chief Security Minister Widodo AS asked the House to consider amendments to Law No. 15/2003 on the Eradication of Terrorism Crimes in an effort to anticipate terrorism problems which have become more and more complex.
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House Wants to Provincialize Graft Courts
The House of Representatives has insisted on eventually placing corruption courts under the authority of district courts, with rights activists quickly lamenting the move as an effort to undermine the country's drive to eradicate corruption.
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SBY Ready With 100 Names for Cabinet
President re-elect Susilo Bambang Yudhoyono said Saturday he had collected more than 100 names circulating in the media as potential candidates for the next Cabinet ministers.
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Local Firms Looking at BHP Project
Nine energy firms including PT Adaro Energy, PT Medco Energi, and PT Indika Energy may be interested to acquire BHP Billiton's coal project in Maruwai, Central Kalimantan.
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State Firms Share Values Recover From Crisis
Publicly listed state firms are getting closer to reclaiming the glittering heights in terms of economic performance that many of them achieved before the financial crisis hit the stock market in the final quarter of 2008.
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Golkar, PDI-P May Join SBY's Next Cabinet
Presidential spokesman Andi Mallarangeng has confirmed President Susilo Bambang Yudhoyono's next Cabinet will possibly include members from the Golkar Party and the Indonesian Democratic Party of Struggle (PDI-P).
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Indonesian Islands 'Not For Sale'
State Secretary Hatta Radjasa said Thursday that none of Indonesia's territory was for sale despite a website advertising offers for three islands in the western part of the country.
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State Companies Market Capitalization Reach Rp 520T
The state minister for state enterprises office announced Thursday that the market capitalization of 14 publicly listed state companies had increased to Rp 520 trillion in the first seven months of the year.
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Government Calls for Help With Emissions Cuts
Severe and lasting droughts may be one consequence if the country does not act quickly to stop climate change, with a marked increase in greenhouse gas emissions expected from Indonesia in coming years, the government says.
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More Import Duty Waivers to Help Firms
The Industry Ministry has proposed waiving import duties worth more up to Rp 1.68 trillion (about US$167.5 million) to the Finance Ministry so that 13 industries can improve business performance to help boost the economy.
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Wednesday, August 26, 2009
Rupiah's Exchange Rate Against US Dollar Stable
Jakarta - The rupiah tended to be stable against the US dollar in the Jakarta interbank spot market here on Wednesday morning because of lack of positive sentiment in the market.
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Tax Refund for Overseas Tourists Planned to Boost Tourism
Indonesia plans to introduce a "tax refund" scheme for foreign tourists shopping here as early as next year, as stipulated under the amendment of the existing law on value-added tax and luxury tax, the House of Representatives says.
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PAL Plans to Build US$240 Million Navy Warship
The ailing state-owned ship building company PT PAL revealed Wednesday that it plans to build a missile-equipped warship worth US$240 million (Rp 2.4 trillion) for the Indonesian Navy by 2010.
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RI Mily Officer to Assume UNIFIL Directorship
Jakarta - Brig Gen Zahari Siregar is certain to assume the post of strategic military cell director of the New York-based United Nations Interim Force in Lebanon (UNIFIL) following a UN request, a Foreign Ministry spokesman said.
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Rupiah Gains Significantly Against US Dollar
Jakarta - The rupiah significantly strengthened against the US dollar in the Jakarta interbank spot market here early Monday as investors purchased the local currency following regional bourse gains.
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Economist: 2009 Inflation Rate May Reach 8 Pct
Pontianak, W Kalimantan - The country`s inflation rate in 2009 may reach 8 percent due to an increase in demand for goods and services at the end of the year, an economic observer said.
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Government to Speed Up Trade Safeguard Process
The government is considering pushing forward safeguard measures to protect domestic industries, with tariff barriers no longer effective due to the upcoming implementation of a number of FTAs.
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For the Upcoming Cabinet, Offense is the Best Defense
The first president of a democratic nation once said: "Not less difficult is to make them believe, that offensive operations oftentimes are the surest, if not in some cases the only means of defense." (George Washington, 1799).
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Police Confirm One Saudi Terror Suspect
TEMPO Interactive, Jakarta: The National Police Force officially announced on Monday that a terror suspect arrested in Kuningan, a day before the other suspect, Iwan Herdiansyah, 27, was caught was a Saudi Arabian national.
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Friday, August 21, 2009
News Focus: RI Conducts Maiden Rice Exports to US
Jakarta - Indonesia on Thursday carried out its maiden rice export comprising about 18 tons of organic rice to the United States in a bid to enhance this world largest archipelagic country`s added value as a rice producer.
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Foreign Tourists Flooding Togean Islands
TEMPO Interactive, Ampana: The amount of foreign tourist arrivals at the Togean Islands in Tojo Una-Una Regency, Central Sulawesi, is increasing rapidly. Unfortunately, this has overwhelmed hotels in the region.
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Cepu Oil Field to Start Production Late August
Jakarta - The Upstream Oil and Gas Regulating Agency (BP Migas) has assured that the Block Cepu of the Banyu Urip oil field in Bojonegoro, East Java, will start its initial production at the end of this month.
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Grassroots to Have Input in Global Decisions
Citizens from 46 countries, including Indonesia, have been invited to voice their opinions on climate change issues, to be used to press the world's negotiators to agree to a new climate regime on emissions cut at an upcoming climate change conference in Copenhagen this year.
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Domestic Spending on Upstream Oil, Gas May Reach Rp 50T
Domestic firms are likely to benefit increasingly from the expenditure of oil and gas contractors this year as the government moves aggressively in promoting the use of local products and services, upstream regulator BP Migas says.
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SBY Thanks Rivals in Victory Address
President re-elect Susilo Bambang Yudhoyono conveyed gratitude to his rivals in his acceptance speech Thursday, marking the start of his second five-year term in office.
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ASEAN to Appeal for Suu Kyi's Participation in Elections
Senior officials from Southeast Asian nations have recommended that their foreign ministers officially appeal the military-ruled Myanmar to let opposition leader Aung San Suu Kyi to participate in next year's elections, a Foreign Ministry official said Friday.
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Thursday, August 20, 2009
RI Expresses Condolences on Kim Dae-Jung's Demise
Jakarta - The Indonesian government and people expressed deep condolences to the South Korean government and people over the death on Tuesday of former president Kim Dae-Jung.
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Purbalingga No. 1 Pro-Investment Region
Purbalingga regency in Central Java has been singled out as the most investor-friendly of the 35 regencies and municipalities in the province, an official said Wednesday.
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Investor Protection Key Under New Bill
A planned amendment to the Capital Market Law aims to provide greater protection to investors by, among other reforms, requiring securities firms to separate out any business other than managing investor's funds and promoting the establishment of an insurance fund to help cover investor's risks.
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RI Expecting Rise in Exports to Japan
Jakarta - Indonesia expects its exports to Japan to rise after the latter`s economy experienced positive growth of 0.9 percent in the second quarter of this year, a minister said.
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PLN Ready to Start 2nd 10,000 MW Program
State electricity company PT PLN looks to build and manage 40 percent of the second 10,000 megawatt (MW) power program, with loans from foreign banks, an official says.
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NU Calls for National Unity to Fight Terrorism
Yogyakarta - One of Indonesia`s largest Islamic organizations, the Nahdlatul Ulama (NU), called on the people here on Wednesday to unite and actively participate in the fight against terrorism.
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President Inspects Army Special Troops' Anti-Terror Unit
Jakarta - President Susilo Bambang Yudhoyono here Thursday visited the main base of the Indonesian Army`s Special Troops Command (Kopassus) to witness a demonstration of the specialized capabilities of the command`s anti-terror unit.
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Government Proposes Higher Oil and Gas Reimbursement
TEMPO Interactive, Jakarta: The government proposed a US$13.01 billion budget plan to cover oil and gas exploitation expenses in energy company in the 2010 state budget, rising from the 2009 target of between US$10.05 - 11.05 billion.
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Beyond SBY, a Post-First-Term Foreign Policy
Some talk about a post-ASEAN foreign policy, others in this season of Cabinet name dropping refer to a post-Hassan Wirajuda foreign policy. Whatever the case may be, as the foreign ministry today commemorates its anniversary it must start setting priorities for President Susilo Bambang Yudhoyono's final term in office.
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RI Emerging as Model Democracy: President
Jakarta - President Susilo Bambang Yudhoyono said Indonesia had now become more solid and emerged as a new economy and a model democracy after 10 years of the most severe monetary crisis in Asia.
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Government, BI Seek Lower Rates for Micro Loans
The government will coordinate with the central bank to seek ways to help bring down interest rates charged by banks to small businesses to around 13 percent under its micro credit (KUR) program.
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Friday, August 14, 2009
A Bear Market Holds Opportunities for Best Returns
The Indonesian stock market can move extremely quickly and annual returns can come from a few days of big moves. Just after the major crash ended in October last year, we saw three days of above 7 percent daily returns in the following two months. For the most part, nobody can tell which days those will be.
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Consumer Confidence Improves in Second Quarter
Indonesian consumers have become more confident about economic conditions. The Consumer Confidence Index by InsightAsia has increased from 83 in the first quarter to 97 in the second quarter and is now a fraction below the neutral level of 100.
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RI Successful in Abandoning Instability Image: President
Jakarta - President Susilo Bambang Yudhoyono said, the international community considered Indonesia a country successful in carrying out transformation after it left the impression of backwardness, instability and conflicts.
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It's Official: SBY Finally Declared the Winner
President Susilo Bambang Yudhoyono secured his re-election Wednesday after the Constitutional Court issued a verdict dismissing allegations of electoral fraud filed by the losing candidates.
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Bank Loans Grow Just 2 Percent in H1
Bank lending experienced relatively sluggish growth during the first semester as lenders - faced with a potential increase in non-performing loans (NPLs) - stayed cautious when channelling new credit while demand from business remained fairly slow.
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President Asks Myanmar to Abide by ASEAN Charter
Jakarta - President Susilo Bambang Yudhoyono asked the Myanmarese government on Wednesday to abide by the new ASEAN Charter calling on member states to respect democratic practices in their respective country.
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BPS to Conduct Nation-Wide Census in 2010
Semarang - The Central Bureau of Statistics (BPS) is to conduct a nation-wide census in 2010 the results of which will be used to streamline the national single-identity numbering system, the bureau`s chief said here.
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BI Enters Money Market to Stabilize Rupiah
Jakarta - Bank Indonesia (BI), the country's central bank, entered the money market here Thursday morning to help stabilize the rupiah in Jakarta interbank spot transactions.
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Wednesday, August 12, 2009
RI Slams Court Verdict Against Suu Kyi
The Indonesian government and public on Tuesday strongly condemned a Myanmar court verdict sentencing democracy icon Aung San Suu Kyi to another 18 months of house arrest, after she was found guilty of allowing an American to enter her closely guarded house.
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Lessons From Q2'09 GDP Performance: Resilient Figure
The Central Statistics Agency (BPS) reported Monday that Indonesia's second-quarter GDP growth for 2009 reached 4 percent year-on-year, lower than the first quarter's 4.4 percent but still higher than our and market consensus estimates of 3.7 percent and 3.8 percent.
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President Praises Police Although Noordin Escapes
President Susilo Bambang Yudhoyono maintained his support and commended the National Police although it once again failed to capture wanted terror suspect Noordin M. Top, saying the police had done "a good job" in arresting a number of terror suspects and preventing further terrorist bombings.
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Tuesday, August 11, 2009
Production Forests Will Reach 10M Hectares by 2014: Government
The government is optimistic its production forests (HTI) will span over 5 million hectares by the year-end, and over 10 million hectares by 2014 as targeted, because the forestry industry can now resort to financing supported by government, an official says.
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Economy Grew Slower in Q2, Still Among Fastest in Asia
Indonesia's economy grew at a slower pace in the second quarter of this year compared to the previous three-month period, but is still among the fastest in Southeast Asia, the Central Statistics Agency (BPS) announced Monday.
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Deficit Financing on Track
Less than three quarters into the year, the government has succeeded in financing 80 percent of its targeted budget deficit for 2009, after its sixth retail bond offering sold well on Monday.
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Economic Growth Above Expectation: Minister
Finance Minister Sri Mulyani said Tuesday that the 4 percent economic growth in the second quarter of this year as announced by the Central Statistic Agency was above government expectations.
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Thursday, August 6, 2009
Enhancing US-RI Education Cooperation
The United States-Indonesia Society (USINDO) Special Event: "Expanding Bilateral Education Cooperation under the Forthcoming Comprehensive Partnership between the United States and Indonesia", and the 90th anniversary of the Institute of International Education (with counterpart the Indonesian International Education Foundation), are very timely, and have left us with both challenges and hopes.
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President Wants Aceh's Peace, Security Preserved
Banda Aceh - President Susilo Bambang Yudhoyono appealed to all parties Tuesday to preserve security and peace in Nanggroe Aceh Darussalam to lay a strong foundation in the development of the province.
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IDX Raises Average Daily Trading Target
The Indonesia Stock Exchange (IDX) has revised its target for this year's daily transaction value average from Rp 2.5 trillion (US$252.5 million) to Rp 3.75 trillion, citing the better-than-expected performance of local firms.
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Capital Inflow Rises Through Government Securities
TEMPO Interactive, Jakarta: Bank Indonesia claimed a torrent of foreign capitals returned to the country in July, hiked around 75 percent from June mainly through State Debt Securities (Surat Utang Negara) and Bank Indonesia Certificate (Sertifikat Bank Indonesia).
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Second Quarter Result Round-Ups: The good, The bad and The Ugly
Of the 45 listed companies under Bahana's coverage (75 percent of the Indonesia Stock Exchange's total market capitalization), 14 companies have not reported their second quarter financial results. Six companies are undergoing limited review, and in accordance with capital markets regulation, have until the end of August to report.
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Taufik's Push to Join Yudhoyono Could Threaten PDI-P
The Indonesian Democratic Party of Struggle (PDI-P) must maintain its position as the opposition against President Susilo Bambang Yudhoyono's next administration for the sake of avoiding losing loyal supporters, experts say.
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Tuesday, August 4, 2009
RI's Economy may Grow 6-7 pct in 2010 : Economist
Jakarta (ANTARA News) - The Indonesian economy may grow 6-7 percent in 2010, driven by the global economic recovery expected to happen in the middle of next year, an economist said.
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Exports to Rise 5% Next Year
The government expects Indonesia's exports to grow by 5 percent next year, bouncing back from this year's estimated 15 percent drop, as a global economic recovery will push demand up for goods.
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Financing Firms Performance in H2 Better Than Expected
Despite a 45 percent decline in lending in the first half of the year, financing companies expect to perform better in the second half as demand for loans picks up amid lower interest rates and higher confidence in the economy.
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SBY to Maintain Coalition Cabinet
President-elect Susilo Bambang Yudhoyono said his upcoming Cabinet would consist mainly of figures from political parties in coalition with his Democratic Party.
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Indonesia Alert Over Chinese Steel Exports
Jakarta (ANTARA News) - Trade minister Mari Elka Pangestu said the government would closely watch out for a possible shift in Chinese steel exports from the European Union to Indonesia after the EU imposed an anti-dumping import duty on Chinese products.
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Monday, August 3, 2009
RI Economy May Grow Above 5 pct: Economist
Jakarta - Indonesia's economic growth may exceed the government-set target of 5 percent on the back of the expected global economic recovery next year, an economist said.
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Deficit in Draft 2010 State Budget Still Safe: President
Jakarta - President Susilo Bambang Yudhoyono said the 1.6 percent of GDP (Gross Domestic Product) deficit in the Bill on the 2010 State Budget was still quite safe and appropriate in the face of the current global economic crisis.
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Yudhoyono Urged to Stop Escalation of Forest Fires
A coalition of civil society groups has demanded President Susilo Bambang Yudhoyono take firm action to stop deliberately lit forest fires, which have affected carbon-rich peat lands in many provinces.
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RI's Debt Ration to Drop 30 Pct in 2010: President
Jakarta - President Susilo Bambang Yudhoyono said Indonesia's debt ratio against its gross domestic product was predicted to decline to 30 percent at the end of 2010, which would be the lowest debt ratio figure since the reform era.
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Market Cap to Reach Up to Rp 2,000T: IDX
Already Asia's third best performing bourse this year, the Indonesia Stock Exchange (IDX) expects its market capitalization to continue to rise and reach up to Rp 2,000 trillion (US$201 billion) by the end of this year.
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