• RI, Japan ink loan deal for infrastructure projects

    Indonesia and Japan signed a loan agreement on Friday in which the East Asian country has committed to providing ¥140.051 billion (US$1.14 billion) to support several infrastructure and energy projects in this country, including Jakarta’s Mass Rapid Transit (MRT) system and an electricity transmission network.

  • Banyu Urip output halved amid upgrade

    ExxonMobil Indonesia has had to temporarily shut down an oil well at the Banyu Urip field pending the completion of upgrade work, putting oil production at 40,000 barrels a day, half of its full capacity, for the next two weeks.

  • Medco shares plunge on Newmont acquisition reports

    Share prices of publicly listed oil and gas company Medco Energi Internasional plunged on Friday following discouraging reports regarding the plan of its owner, Arifin Panigoro, to acquire a majority share of the local unit of the US-based mining company Newmont Corp.

  • Garuda needs US$500m for expansion

    National flag carrier Garuda Indonesia will need up to US$500 million to support its expansion plans in 2016, its top official has said.

  • Astra Sedaya considers issuing bonds worth Rp 10 trillion

    Automotive financing firm PT Astra Sedaya Finance (ASF) is mulling over issuing a series of bonds worth around Rp 10 trillion (US$724.12 million) to fund its motor vehicle financing next year.

  • Mobile communication apps reach out to seniors, families

    Forty-three-year-old Enny Nuraeni is savvy about mobile communication applications. As a mother and an owner of two companies, she always tries to keep up communications with her children.

  • Waskita seeks up to Rp 3.5t from IPO of subsidiary

    State-run construction company Waskita Karya is set to have its precast concrete subsidiary enter the bourse in the second half of next year, with hopes the proceeds from the initial public offering (IPO) would reach Rp 3.5 trillion (US$255.31 million), according to its top official.

  • Where to next?

    Travel agents explain travel packages to visitors during the Indonesia Travel Fair 2015 at the Jakarta Convention Center on Friday. The fair will last until Nov. 28 as part of efforts to boost tourism in the country.

  • JCI down as rupiah drops past 13,800

    The Jakarta Composite Index (JCI) was down by 36.49 points or 0.79 percent to 4,560.56 at Friday’s closing, following the rupiah’s depreciation. The index of the 45 most liquid stocks (LQ45) dropped 8.13 points (1.02 percent) to 787.03.

  • FWD Life Insurance targets aggressive growth

    Life insurance company PT FWD Life Indonesia is eyeing tripling its number of new customers and is aiming for more than 50 percent growth in terms of new premium value by the end of this year.

  • Unilever oleochemical plant open, regional economy boost expected

    Consumer goods giant PT Unilever has officially opened its first ever oleochemical processing plant in the Sei Mangkei special economic zone (SEZ) in Simalungun, North Sumatra, becoming the industrial zone’s anchor investor and spurring hopes that it will boost economic growth in the region.

  • East Natuna development faces possible negotiation delay

    The development of the East Natuna gas block on northern Natuna Island, off Sumatra, may take longer than expected as state-owned company Pertamina, the operator of the gas block, is still working on several issues with its partners.

  • Govt to introduce industrial zone regulation next month

    The government is set to launch a new regulation on industrial zones by year-end in an effort to expedite the development of industrial zones outside Java and spur economic growth in the regions.

  • Ministry expects 90% budget disbursement

    The Public Works and Public Housing Ministry expects its early bidding policy will expedite budget disbursement to at least 90 percent by the end of next year.

  • Govt needs to stay cautious next year on challenges

    While the economy is predicted to experience better growth next year, the government needs to stay cautious on account of possible challenges stemming from moderate industry growth and “brain drain” owing to regional economic integration, analyst and business player have said.

  • Refinery upgrades to cut $1 billion of imports

    Upgrades on the Cilacap refinery and the resumption of the Trans Pacific Petrochemical Indotama (TPPI) refinery have saved a billion US dollars in foreign exchange spending on oil imports, which should ease pressure on the current account as well as on the rupiah.

  • BKPM halts license for foreign investment in cemetery park

    The Investment Coordinating Board (BKPM) has received a US$20 million investment proposal from a foreign investor to run a cemetery park development and burial service. The BKPM has not yet issued the license due to uncertainties related to the monitoring process.

  • Economists urge more pro-investment policies

    A senior economist from the Center for Economics and Business Research, Danae Kyriakopoulou, has praised the government for its recent economic stimulus packages aimed at attracting long-term investment suitable for Indonesia’s development.

  • China to spend $438b on rail network in the next five years

    China is set to invest a total of at least 2.8 trillion yuan ($438 billion) in railway construction during the 13th Five-Year Plan period (2016-2020), reported Economic Information Daily.

  • Chinese stocks fall after probes of brokers launched

    China's main stock market index fell more than 5 percent after two of the country's biggest securities firms announced they are under investigation for possible misconduct.