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Business

  • Lower quota may trigger fuel shortage

    People will likely find it harder next year to find subsidized fuel as availability will decline due to the expectation of a lower quota for the much needed fuel.

  • No foreign ownership cap in new insurance law

    The House of Representatives has backed down from capping foreign ownership in local insurance firms in a new insurance bill that will be passed into law in one month.

  • Pindad, CMI develop weapons systems

    Jakarta: State-owned land-systems and weapons maker PT Pindad inked a strategic partnership on Monday to develop weapons systems for armored vehicles and tanks with Cockerill Maintenance & Ingenierie SA Defense (CMI) from Belgium.

  • BI maintains policy stance, still wary of fuel price, US rate

    Bank Indonesia (BI) is maintaining its monetary policy stance, despite accusations from several analysts that the central bank is being dovish and may be keen on cutting interest rates to spur growth.

  • Passenger charges to be imposed on airlines

    State-owned airport operators are preparing a mechanism to impose passenger service charges on airlines rather than on passengers following the issuance of a ministerial decree last week.

  • Gunnebo to expand cash-handling business in RI

    Sweden-based security service provider Gunnebo Security Group boosted its efforts to grow its cash-handling business in Indonesia after signing on Monday a Rp 20 billion (US$1.6 million) agreement with publicly listed taxi operator Express Transindo Utama (Express Group).

  • Total to spend big for offshore gas development

    President Susilo Bambang Yu-dhoyono officially launched on Monday an offshore gas project developed by Total E&P Indonesie in Kutai Kartanegara, East Kalimantan, despite uncertainty over the company’s contract extension.

  • Lippo moves Rp 3.6t asset to Singapore subsidiary

    Singapore-listed Lippo Malls Indonesia Retail Trust Ltd. (LMIR Trust), a subsidiary of Jakarta-listed developer Lippo Karawaci (LPKR), has announced a Rp 3.6 trillion (US$300.72 million) acquisition of Lippo Mall Kemang (LMK) from its sister company in a transaction that will move ownership of the assets to a Singaporean entity.

  • Customers to shift to 3-kg LPG canisters

    State-run oil and gas company PT Pertamina has predicted that about 2 percent of consumers of non-subsidized 12-kilogram liquefied petroleum gas (LPG) canisters will switch to the cheaper 3-kg LPG canisters following the former’s price increase.

  • Dahana needs $300m to build factory

    State-owned explosives maker PT Dahana needs an investment of between US$250 million and $350 million to build a propellant factory in Subang, West Java, according to a statement made on Monday by president director F. Harry Sampurno.

  • Pindad, CMI develop weapons systems

    State-owned land-systems and weapons maker PT Pindad inked a strategic partnership on Monday to develop weapons systems for armored vehicles and tanks with Cockeril Maintenance & Ingenierie SA Defense (CMI) from Belgium.

  • Pefindo downgrades BII bond rating

    Local rating agency PT Pefindo has downgraded the rating of private lender Bank Internasional Indonesia’s (BII) continuous subordinated bonds—worth Rp 3 trillion (US$252.63 million)—to AA from the previous AA+.

  • Telkom buys 25% stake in Tiphone for Rp 1.4t

    Indonesia’s largest telecommunication operator, PT Telekomunikasi Indonesia (Telkom), will complete this week a Rp 1.4 trillion (US$117.2 million) acquisition of publicly listed mobile phone distributor PT Tiphone Mobile Indonesia.

  • Dahana needs some $300m to build propellant factory

    State-owned explosives maker PT Dahana needs an investment of between US$250 million and $350 million to build a propellant factory in Subang, West Java, according to a statement made on Monday by president director F. Harry Sampurno.

  • Pindad, CMI develop weapon systems

    State-owned land-systems and weapons maker PT Pindad inked a strategic partnership on Monday to develop weapon systems for armored vehicles and tanks with Cockeril Maintenance & Ingenierie SA Defense (CMI) from Belgium.

  • Heineken rejects SABMiller takeover bid

    Family-controlled brewer Heineken says it has rejected a takeover bid by rival SABMiller.

  • Hong Kong rethinks rules after Alibaba IPO loss

    Alibaba's choice of New York over Hong Kong for its blockbuster IPO was a blow for the Chinese financial center. Now, the city's stock market is starting to rethink rules that stopped it from accommodating the Chinese e-commerce giant's unique management setup.

  • 2% of 12-kg LPG customers predicted to shift to 3-kg LPG canisters

    State-run oil and gas company PT Pertamina has predicted that 2 percent of users of non-subsidized 12-kilogram (kg) liquefied petroleum gas (LPG) canisters are likely to switch to the 3-kg LPG canisters following the former's price rise.

  • Jokowi to continue with economic plan

    Three years ago, Indonesia President Susilo Bambang Yudhoyono launched an ambitious masterplan to create six economic corridors across the archipelago and turn Indonesia into one of the world's top 10 economies by 2025.

  • PGN plans to build 60 gas stations in Jakarta

    State-run gas distributor PT Perusahaan Gas Negara (PGN) plans to team up with the Association of Fuel Station Owners (Hiswana Migas) to establish 60 gas stations in the capital city to accelerate the conversion from fossil fuels to gas.