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Business

  • Coal miner Bukit Asam ventures into palm oil business

    State-run coal miner Bukit Asam announced Tuesday that it had acquired an 8,000-hectare oil palm plantation located on the company’s South Sumatra mining concession, which would bring not only additional mineable resources to the company, but also diversified revenue from the palm oil business.

  • Mandiri DPLK to manage Semen Padang’s pension benefits

    The Financial Institution Pension Fund (DPLK) under state lender Bank Mandiri has won a financial deal to manage the retirement benefits of West Sumatra-based cement producer Semen Padang, a subsidiary of publicly listed state cement company Semen Indonesia.

  • BSD records strong sales despite property slowdown

    Property developer Bumi Serpong Damai (BSD) has pocketed Rp 5 trillion (US$415 million) in marketing sales during the first nine months of the year, or around 83 percent of the company’s annual target, in contrast to other developers that recorded dwindling sales amid tightened mortgage regulations and an economic slowdown.

  • Analysis: Improving financial services for Indonesia’s underserved

    The benefits of financial services are certain in the course of economic development. Policy makers realize that a great deal may be acquired if financial services can reach people who are currently underserved.

  • Pertamina to import LNG from Mozambique

    State-owned oil and gas company PT Pertamina says it will import liquefied natural gas (LNG) from Mozambique.

  • Cheaper oil eases pressure on govt fuel-subsidy bill

    Recent drops in the world’s crude oil prices have significantly eased pressures on the government’s bill on fuel subsidies, which are estimated to reach Rp 276 trillion (US$22.9 billion) next year.

  • RI needs stronger trade-remedy measures

    As international trade intensifies, trading nations engage in many more disputes, so Indonesia needs to strengthen its trade-remedy capacity, former deputy trade minister Bayu Krisnamurthi has said.

  • JCI, rupiah continue to strengthen in morning trade

    The Jakarta Composite Index (JCI) and the rupiah interbank trade rate opened on a positive note on Wednesday morning.

  • Russian firm set to build $1.5b mineral facilities

    Russia’s investment and industrial group Vi Holding may pour around US$1.5 billion into building mineral processing facilities in Indonesia, a Russian minister says.

  • Low-price Chinese models boost smartphone ownership in SE Asia

    Smartphone ownership continues on an uptrend across Southeast Asia, raising total sales in the last 12 months in the seven markets of Singapore, Malaysia, Thailand, Indonesia, the Philippines, Vietnam and Cambodia to a high of nearly 120 million units.

  • Insurance law unlikely to stem foreign M&As

    Indonesia’s new comprehensive insurance law, due to take effect on Oct. 23, has added restrictions to foreign investment in the sector, but is unlikely to discourage future M&A activity involving international insurers, says Fitch Ratings.

  • Former Golkar lawmaker to lead BPK

    Harry Azhar Azis, a senior Golkar Party politician and former member of House of Representatives Commission XI overseeing financial affairs, has been selected as the chairman of the Supreme Audit Agency (BPK) for the 2014-2019 period.

  • WHO: Ebola vaccine trials in W. Africa in January

    With Ebola raging in West Africa, the World Health Organization is pressing the search for a vaccine and hopes to test two experimental versions as early as January on 20,000 front-line health care workers and others in the hot zone — a bigger rollout than envisioned just a few months ago.

  • How the Dow Jones industrial average did Tuesday

    The U.S. stock market marched higher Tuesday, giving the Standard & Poor's 500 index its best day of the year. Investors rallied behind an encouraging report on the Chinese economy as well as strong quarterly results from Apple and other big companies.

  • Stocks rally; S&P 500 has best day of 2014

    The U.S. stock market marched higher Tuesday, giving the Standard & Poor's 500 index its best day of the year.

  • Jordan, RI build $220m phosphoric acid plant in Gresik

    Jordan and Indonesia have jointly built a phosphoric acid plant in Gresik, East Java, to boost bilateral cooperation in the agricultural sector, a top Jordanian envoy says.

  • 24 ports prepared in eastern Indonesia to support sea-toll project

    State-owned port operator PT Pelindo has said preparations are under way for repairing 24 ports in eastern Indonesia to accelerate the implementation of a sea-toll construction project initiated by President Joko “Jokowi” Widodo.

  • Rupiah appreciates to 11,991 per dollar at Tuesday's close

    The rupiah interbank trade rate appreciated by 41 basis points to Rp 11,991 per US dollar in Tuesday’s final trading because of market speculation over the possibility of a postponement of a US Federal Reserve rate hike.

  • China relief helps shore up markets

    European stocks rebounded Tuesday after figures showed China's economic growth slowed less than feared. U.S. shares were poised to make further gains at the open too amid further signs that markets have found a surer footing.

  • JCI slips 0.22% in closing trade

    The Jakarta Composite Index (JCI) closed on a negative note in Tuesday’s final trading session because newly inaugurated President Joko “Jokowi” Widodo had yet to announce the formation of his Cabinet.

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