Indonesia Needs To Cut Its Subsidies On Fuel And Energy
Posted by Jakarta Updates on Jul 02, 2011 | Leave a Comment
The World Bank says that Indonesia needs to cut its subsidy on fuel and energy and pay more attention and money on its infrastructure development.
“The high oil prices in 2011 have increased government spending on energy subsidies with a bad result. Increased public spending on subsidies means higher opportunity cost in terms of funds that can be used for other pressing development needs, such as education, health,...
43 Mining Concessions Revoked In Kalimantan
Posted by Jakarta Updates on Jun 27, 2011 | Leave a Comment
The Central Kalimantan Governor said that he has revoked 43 mining concessions around the North Barito Regency for violating various regulations. This can be seen as a sign that the Central Kalimantan local government is now taking a more stringent approach when it comes to mining.
“Many steps have been done in an attempt to persuade the mining companies to conduct their activities pursuant to regulation, based...
BP Migas Leadership Problem
Posted by Jakarta Updates on Jun 15, 2011 | Leave a Comment
The Indonesian Executive Agency for Upstream Oil and Gas body (BP Migas) is having a leadership problem which could affect Indonesian oil and gas production. It started by an appointment letter signed by the Indonesian Mineral Resource and Energy Minister to arbitrarily appoint three deputies (directors) to replace the old deputies.
The decree No. 1377 Year 2011 explained that the position of Operations Control will be...
Foreign Movies Import Duty Increased By 100 Percent
Posted by Jakarta Updates on Jun 14, 2011 | Leave a Comment
The controversy regarding import duty for foreign movies seems set to continue. While the current discussion about how much should the Indonesian tax office charges taxes on imported movies still deadlocked, the government decided to increase import duties on foreign films by about 100 percent. Previously, the government applies tariffs of 23.75 percent for foreign movies and royalties amounting to 43 cents U.S. dollars...
Germany Metro Cash and Carry Enters Indonesia
Posted by Jakarta Updates on Jun 13, 2011 | Leave a Comment
German wholesale retailer, Metro Group, finally made a step to enter the Indonesian market which is considered to have the largest economy in Southeast Asia. Metro will open a self-service wholesale business called Metro Cash & Carry by 2012
“Asia is clearly represented a dynamic growth and potential for global businesses. That is why the Metro Cash & Carry is currently focused on expanding rapidly throughout...
Strong Rupiah Is Worrying – Chamber of Commerce
Posted by Jakarta Updates on Jun 11, 2011 | Leave a Comment
The Indonesian Chamber of Commerce chairman Bambang Suryo Sulisto, expresses his concern about the Indonesian Rupiah that keep getting stronger against the green back. He mentioned that the Rupiah Dollar exchange rate should stay above the 9,000 IDR per 1 USD.
He reminded the Indonesian products which are already having a hard time competing with foreign products in the world market now have to face even more challenge...
The Indonesian Government Will Not Extend All Expired Mining Contracts
Posted by Jakarta Updates on Jun 08, 2011 | Leave a Comment
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the mining management which in essence nationalize it and renegotiate the right with the company or with other companies.
“If a company contract period is expired, it will not be extended. (The area) must be returned to the state first. If the foreign investors still want...
Indonesia Is The Best Country To Start Business
Posted by Jakarta Updates on Jun 06, 2011 | 2 Comments
Indonesia is selected as the best country to start a business according to entrepreneurs based on survey results conducted by GlobeScan in cooperation with Program on International Policy Attitudes at the University of Maryland for BBC Extreme World Series program. BBC Extreme World Series is an event covering the differences in the implementation of various aspects of development throughout the world.
“The results...
West Sumbawa Regent Defended Newmont Mine Closure
Posted by Jakarta Updates on Apr 26, 2011 | Leave a Comment
West Sumbawa Regent KH Muhadli Zulkifli said the local government has many reasons to temporarily shut down PT Newmont Nusa Tenggara mining operations if the central Government does not accommodate the regency intention to purchase seven percent of PT Newmont Nusa Tenggara shares divested in 2010.
“Under the authority of the regents who governed by the Law No. 4 / 2007, the closure of mining operations can be done...
New Import Duty Tariff Regulation Issued
Posted by Jakarta Updates on Apr 26, 2011 | 1 Comment
The Indonesian Ministry of Finance has revised import duty on 190 products effective from April 18, 2011. A total of 182 products which are classified as raw materials and capital goods enjoy lower tariff from five percent to zero percent.
The 190 products covers five industry sectors which are basic chemical, food, machinery, electronics (including film equipment), and the maritime industry. All of those products are...
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