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Tuesday, June 30, 2009
RI Economic Growth Fueled by Consumption: Observer
Jakarta - An economic observer said here on Monday that Indonesia's economic growth still relied on domestic consumption and therefore it was not much affected by the current global economic crisis.
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US and Indonesia to Sign $30M Debt-for-Nature Deal
JAKARTA: US Ambassador to Indonesia Cameron R. Hume and Indonesian Forestry Minister M.S. Kaban will sign a Tropical Forest Conservation Act (TFCA) agreement worth nearly US$30 million in total grants over the next eight years, for reducing Indonesia's debt payments to the US.
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Monday, June 29, 2009
News Focus: RI to Have Brighter Economic Prospects in 2010
Jakarta (ANTARA News) - Indonesia is predicted to have brighter economic prospects next year in 2010 in tandem with the recovery of the world economy on account of the country’s ability to boost its exports, an observer says.
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Foreign Shareholders Must Sell 20 Percent of Shares in Mining Companies
With the implementation of the new mining law, the government will require foreign shareholders with 100 percent of participating interest in mining companies to sell at least 20 percent of their ownership to the central government, regional government, state enterprises or domestic private companies.
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US Helping Investors Get Clean Energy Opportunities in RI
Jakarta, - Opportunity to finance environmentally friendly energy projects has attracted the attention of more than 100 industrial experts and investors participating in the Indonesian Clean Energy Investor Forum being held here today.
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BP, Pertamina Ink US$280 M Oil Block Transaction
Europe's second largest oil company energy BP has agreed to sell a 46 percent participating interest in the offshore North West Java (ONWJ) oil and gas block to state oil and gas company PT Pertamina in an acquisition said to be worth US$280 million.
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RI Needs to Anticipate Creation of BRIC Trade Bloc
Jakarta, - Indonesia needs to take anticipatory steps in the face of the possibility of the realization of Brazil, Russia, India and China (BRIC) trade bloc agreement using local currencies in their transactions, an economic observer said.
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Thursday, June 25, 2009
WB Calls for Faster Reforms
There could be a longer global economic crisis, but Indonesia can recover faster by spending on infrastructure, plus rapid institutional reforms: World Bank.
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RI, NZ Bilateral FTA Arrangements to Conclude Within Months: FM
Indonesian and New Zealand Free Trade Agreement talks under the auspices of the ASEAN bloc have been progressing well despite the economic crisis and both countries expect the bilateral arrangement can be concluded within months, say foreign ministers.
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Riau Moves to Start RI Downstream CPO Industry
The Riau government, already good at attracting investment, is moving aggressively to set up the nation's first downstream industrial cluster for the palm oil industry, to start to catch up with Malaysia.
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IT Investment Cas Boost Economic Growth: KADIN
Jakarta, - Investment in communication and information technology infrastructure facilities could help accelerate economic growth, Anindya Bakrie of the Indonesian Chamber of Commerce and Industry (Kadin) said.
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Students Learn Simple Things to Save the Earth
Students of SDN Menteng 03 state school in Central Jakarta listened to and answered questions from volunteers of GreenLifestyle community who delivered a presentation on how youths can appreciate nature.
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Tuesday, June 23, 2009
Perception Toward Indonesia's Economy Better: Analysts
Indonesia could expect a significant jump in investment, in particular coming from overseas, as foreign investors have shown more confidence in the country's economy after it managed to cushion the impacts of the global financial crunch.
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Cepu Block to start production late August
Jakarta (ANTARA News) - The Upstream Oil and Gas Executive Agency (BP Migas) has predicted that Banyu Urip oil field in the Cepu block in Bojonegoro district, East Java, will start production as early as late August 2009.
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RI Ready to Train Palestinians
Jakarta - Indonesia has expressed readiness to train Palestinian nationals to be self-reliant when Palestine becomes an independent country.
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Friday, June 19, 2009
ILC Commends RI for Preventing Mass Worker Layoffs
Jakarta - The International labor Conference (ILC) held in Geneva earlier this month has commended Indonesia for having successfully prevented mass worker layoffs amid the global financial crisis, a minister said.
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Papua Issues Scrapped from US House Bill, Foreign Ministry Says
The Indonesian Foreign Ministry said the United States House of Representatives had scrapped from the country’s foreign relations bill approved last week a provision highlighting the political status of West Papua and the human rights condition in the province.
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Forestry Industries Show Green Shoots
Forestry-related industries are springing back to life with new investment in the first five months of the year reaching Rp 1.2 trillion (about US$116 million), thanks in part to the government's regulatory reforms in the sector, a Forestry Ministry official says.
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Trade Ministry Opens International Franchise Conference
TEMPO Interactive, Jakarta: The Trade Minister Mari Elka Pangestu opened an international conference at Jakarta Convention Center, today (19/6) in Jakarta. The Conference will last for three days (19-21 June) and has 175 companies from the Asia Pacific region participating.
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House May 'Throw in the Towel' in Corruption Fight
The House of Representatives received 10 white towels from the National Law Reformation Consortium (KRHN) as a symbol of the 10 House factions’ lack of seriousness in passing the Corruption Court bill into law.
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Minister: Creative Industry Growth More Positive
Jakarta, - Trade Minister Mari Elka Pangestu said creative industry growth was increasingly becoming more positive, especially in the music and film sub-sectors whose domestic market was big.
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Foreign Bizmen to Participate in AIE Expo 2009
Banda Aceh, - A number of foreign businessmen among others from Malaysia and Myanmar will participate in the Aceh International Expo (AIE) 2009 to be held here on August 2 to 11, 2009.
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Wednesday, June 17, 2009
RI's Economic Indicators Showing Positive Trend: Minister
Jakarta - Finance Minister Sri Mulyani Indrawati said the positive trend in Indonesia's economic indicators, including its composite share price index, was due to investors' confidence in the country's ability to weather the global economic crisis.
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Indonesia's Debt Ratio Declining
Jakarta - Although Indonesia's external debts have increased from Rp1,275 trillion in 2004 to Rp1,667 trillion in 2009, their ratio against the country's gross domestic product (GDP) had declined from 57 percent to 32 percent.
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Indonesians Spend More Regardless of Financial Crisis
The Indonesian retail market, in the first four months of the year, remains on a positive trajectory as consumers in both modern and traditional markets continue to spend more - regardless of the impact of the financial crisis on the economy.
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Indonesia's Planned Market Economy
The study of economics deals basically with the problem of choice. The producer has to choose the proper combination of limited resources to produce a profitable product. The consumer has to choose the goods and services they need with a given income. There is always a choice to be made among the limited resources to meet unlimited human needs.
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Insurance Industry Sets Robust Growth Target
The country's life insurance industry expects revenue to grow by 30 percent in the second quarter, slightly higher than the growth in the first quarter, as people's confidence in the economy rose with recovery in sight, an association says.
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Minister: Border Negotiations Not Easy
Jakarta, - Foreign Affairs Minister Hassan Wirajuda said here on Tuesday that international negotiations on border issues are not easy and take much time.
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Oceans to Feature in UN Climate Talks
The Indonesian government said Monday that international delegates attending recent climate talks in Bonn have agreed to place ocean issues on the official agenda for the upcoming UN climate conferences in Copenhagen.
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Monday, June 15, 2009
Government Gets Good Mark on Rights Legislation: NGO
A study by Setara Institute reveals that the current administration, together with the current House of Representatives, have passed more legislations protecting human rights than those constraining them.
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Mission Possible: The Real Batik on UNESCO's List
Many people said it would be boom time for batik after it was short-listed for the United Nations Educational, Scientific and Cultural Organization’s (UNESCO) list of intangible cultural heritage.
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RI Tourism Grows 1.53 Percent
Jakarta, (ANTARA0 - Indonesia's tourism grew 1.35 percent from January to April 2009 with foreign tourist arrivals reaching 1.89 million, up 28,570 from around 1.86 million recorded in the same period last year.
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Friday, June 12, 2009
The Worst is Over for The Indonesian Economy
First quarter GDP data is rather weak. Nevertheless, it appears that the economy will not deteriorate further. In fact, there are early indications that it will soon start to pick up its pace again.
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Incentives Needed to Make Banks Lower Interest Rates
Jakarta, - The government should provide incentives for banks so that they will be able to lower their rates of interest in accordance with the already lowered benchmark rate of Bank Indonesia (BI Rate), a private business organization official said.
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Pertamina Plans Fuel Self-Sufficiency
PT Pertamina has a long list of downstream projects in the next few years as the state oil and gas company has set a target to stop importing subsidized fuels by 2017.
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Surveys Show Contrasting Poll Results
Recent surveys on voters preferences for the July 8 presidential election show contrasting results on who the winner will be and whether the election will end in one or two rounds of voting.
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KADIN Hopes Credit Interest Rates Set at 10 Pct
Jakarta - The Indonesian Chamber of Commerce and Industry (Kadin) hoped for a drop in credit interest rate by 10 percent from 16-24 percent for micro, small and medium business (UMKM) credits.
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RI Taking Part in Bonn Climate Change 'Talks' Side Event
London - Indonesia is taking part in a meeting on "The Role of Oceans in Climate Change - From Manado to Copenhagen" organized on the sidelines of the Bonn Climate Change Talks to follow up the recommendations of the World Ocean Conference (WOC).
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City Likely to See Peaceful Campaign
The city residents may expect to see another peaceful campaign period in Jakarta, as all three presidential campaign teams held their first official public gathering on Tuesday night in an amicable atmosphere.
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Wednesday, June 10, 2009
BI Official: Indonesian Banks Safe
Surabaya, E Java, - Indonesian banks are relatively safe in the recent global financial crisis that has affected a number of countries, Bank Indonesia's head of bureau of financial system stability, Dr Wimboh Santoso, said.
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Indonesia Launches First Inter-Island Bridge
TEMPO Interactive, Jakarta: President Yudhoyono inaugurated Indonesia's first bridge connecting two islands on Wednesday (10/6) in Madura Strait. The 5.400 meters bridge is the longest bridge in the country connecting Kenjeran in Surabaya and Bangkalan in Madura Island.
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The Indonesian Freedom Agenda, Don't Let it Rest
Going through the vision and mission statements of all three presidential candidates, one would be hard-pressed to find the word freedom. The nearest we read or hear in the current election campaign is the term liberal, and even then, it is used more in the pejorative context of neoliberalism to attack the economic policies of the incumbent President Susilo Bambang Yudhoyono and his running mate Boediono.
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TWF to Promote Wallace to Foreign Communities
The Wallacea Foundation (TWF) is promoting the East Indonesia areas named after British naturalist Alfred Russel Wallace to the global community as part of its ambitious plan to set up a biodiversity research center in Ternate, North Maluku.
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Utilization of Renewable Energy in RI Long Way Off
Despite its huge potential in renewable energy sources, Indonesia has so far only utilized a very small part of them, with high costs and uncertainty over feasibility among the main problems facing the nascent industry.
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Government Not to Raise Basic Electricity Rates
Semarang, S Java, - Energy and Mineral Resources Minister Purnomo Yusgiantoro said that the government would not raise the electricity basic tariffs (TDL) on the people's and nation's interest.
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Monday, June 8, 2009
Investment to Recover in 2Q, 3Q: Minister
Investment is estimated to recover in the second and third quarters of this year, as indicated by the recent increases in capital inflows, Finance Minister Sri Mulyani Indrawati said Monday.
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Mount Rinjani Proposed to be Indonesia's First Geo-Park
TEMPO Interactive, Mataram:Three national parks located in Mount Rinjani, West Nusa Tenggara, Mount Batur in Bali, and Mount Sewu in Pacitan, West Java, have been suggested as possible geo-parks to the United Nations Educational, Scientific and Cultural Organization (UNESCO). The three areas will become Indonesia’s first geo-parks.
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We Need to Have Rules of Engagement to Prevent a Conflict'
Tensions have again flared in the oil-rich Ambalat waters off East Kalimantan, which are claimed by both Malaysia and Indonesia. The Indonesian public accused the government of being too passive in settling the border dispute, especially with the Malaysian Navy's ships often straying into Indonesian territory. The Indonesian Navy reacted by chasing the intruding ships away and ordering them to leave the area immediately. Defense Minister Juwono Sudarsono discussed with The Jakarta Post's Novan Iman Santosa and Kili Pringgodigdo what the government is doing to settle the border dispute.
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Good Governance 'Key to Effective REDD'
Paying people to protect forests will effectively help reduce deforestation and ease climate change only if recipient countries practice good governance in natural resources management, according to a recent study.
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New Survey Says to Expect Two-Round Election
In contrast to a survey conducted by the Indonesian Survey Institute (LSI) less than a week ago, the results of a survey published by the Information Research Institute (LRI) has found the July presidential election will end in two rounds.
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Saturday, June 6, 2009
IMF Ups Estimate as RI Proves Resilient
The resilience of Indonesia's economy, which posted the third-fastest growth rate in Asia in the first quarter of 2009, has led the International Monetary Fund (IMF) to revise upward its 2009 growth projection for the country, which is Southeast Asia's largest economy.
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Friday, June 5, 2009
Obama: I Will Come to Indonesia Soon
TEMPO Interactive, Cairo: Following his speech at the University of Cairo, Egypt, yesterday, President Barack Hussein Obama received seven journalists from Palestine, Israel, Egypt, Saudi Arabia, Lebanon, Malaysia, and Bambang Harymurti from Tempo, Indonesia.
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Job Creation in 2010 Could Reach 2.3M
The government expects the economy to absorb 2.3 million new jobs next year, reducing unemployment to 8 percent, assuming the economy expands at between 5 and 6 percent, as it recovers from the global economic crisis.
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Survey Says SBY to Win Election in a Single Round
President Susilo Bambang Yudhoyono is likely to win the July 8 presidential election in a single round victory, with 70 percent of votes, a survey by Indonesian Survey Institute (LSI) revealed Thursday.
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Thursday, June 4, 2009
Indonesia Muslims Laud Obama's Speech
Indonesian Muslims lauded President Barack Obama’s speech delivered to Islamic world in Cairo as "impressive" and "high quality". But they said the substance of the one-hour speech was "hardly new".
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Finance Minister: The Worst is Over
Jakarta - Finance Minister Sri Mulyani Indrawati said here on Wednesday that the worst economic condition in Indonesia as a result of the global financial crisis had already passed and the situation had now started to recover.
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ADB Approves $1 Billion Loan for Indonesia
Jakarta - The Asian Development Bank (ADB)'s management has approved a $1 billion loan for Indonesia to sustain critical public expenditures for poverty alleviation, social protection and infrastructure maintenance in the wake of the global financial crisis.
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RI to Send Diplomatic Note to KL Over Ambalat
Indonesia decided not to make any military advances toward Malaysia despite the neighboring country's frequent "trespassing" of warships into the disputed oil-rich Ambalat waters in East Kalimantan.
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RI: One of the Top Investable Markets
The Central Statistics Agency (BPS) has recently released once again a set of positive figures on Indonesian macroeconomic indicators with the inflation rate and international trade performance data showing improvements.
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President: No Compromise on RI Border in Ambalat
Jeju, S Korea, - President Susilo Bambang Yudhoyono said he would not accept any compromise on the Indonesia-Malaysia border in the Ambalat block because the area clearly belongs to Indonesia.
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Indonesia Needs $4B to Avert Deforestation
The government is upbeat that Indonesian deforestation could be averted if international communities grant US$4 billion until 2012 to finance the livelihood of local people and stop forest conversions.
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Indonesia Pushes for Ocean Talks
Environment Minister Rachmat Witoelar said the Indonesian delegates would strive to propose ocean issues as part of the official agenda of the preparatory climate change talks now underway in Bonn, Germany.
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Indonesia is a Potential Market for General Motors
TEMPO Interactive, Jakarta: Indonesian General Motors Autoworld (GMAI) has stated that Indonesian market is a potential one.“We will keep trying to maintain our business here and develop it,” said GMAI's Managing Director, Mukiat Sutikno, in Jakarta, on Monday (1/6).
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BI: May Inflation More Controllable
Jakarta - Bank Indonesia (BI, the country's central bank), estimates that inflation in May 2009, especially the year-on-year rate, would be more controllable than the rate in the previous month.
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Bapepam Preparing Investor Protection Fund
TEMPO Interactive, Jakarta:The Capital Market Supervisory Agency (Bapepam) is putting together funds to protect investors, functioning similar to a savings guarantee plan which protects investors and guarantee the money invested should security problems occur. The establishment of this institution is not yet final as it is still being studied.
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RI Concerned About N Korea's Nuclear Test
Jakarta, - The Indonesian government on Sunday expressed concern about North Korea's nuclear test and stressed the need to preserve stability in the Korean peninsula.
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Indonesian Garment Exports Down 0.8 Pct
Jakarta, - Indonesian garment exports have dropped around 0.8 percent due to the impact of the financial crisis in the US, the executive director of Textile Indonesia, Retmo, said here on Saturday.
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