Economic - Business News
Air Asia to resume KL-Palembang flight soon
Malaysian budget carrier Air Asia plans to resume its Kuala Lumpur-Palembang flights in October this year after nearly eight months of stoppage, a spokesman said.
Thirty-nine pct of Perbanas members favor OJK`s formation
A survey by the National Banks Association (Perbanas) has shown that 39 percent of its members favor the proposed establishment of a financial services authority (OJK) to supervise banking and financial institutions.
Govt to develop 10% of small businesses into middle-class ones
The government will continue to promote micro small and medium businesses to develop into new middle-class businesses, a chief economic minister said.
Central bank aims to withdraw excess liquidity of Rp50 tln
Bank Indonesia (the central Bank/BI) has set itself the target of withdrawing Rp50 trillion in excess liquidity by raising minimum reserve requirements to 8 percent from 5 percent previously.
BI sets banks` LDR at 78-100 pct
Bank Indonesia (BI) has set a new regulation of minimum reserve requirements based on loan-to-deposit ratio (LDR) with the lower limit of 78 percent and upper limit of 100 percent to boost credit growth under prudent principle.
Australian tourists to Bali up 51 pct
A total of 341,664 Australian tourists visited the resort island of Bali in the first seven months of 2010, up 51.07 percent from a year earlier.
Trade ties with Indonesia still strong, says Malaysian minister
- Bilateral trade ties between Malaysia and Indonesia are still strong despite the recent protests by the People`s Democratic Front in front of the Malaysian embassy in Jakarta.
BI raises reserve requirement to overcome inflation
Bank Indonesia (BI) has raised banks` primary reserve requirement from five to eight percent of third party funds as of November 2010 to overcome high inflationary pressure in December.
RI`s non-oil/non-gas exports to reach $115 bln this year
The government has projected non-oil/non-gas exports to grow 16 percent at the end of 2010 to US$115 billion from US$87.5 billion the year before, Trade Minister Mari Elka Pangestu said.
Indonesia`s forex reserves reach US$81.3 bln
Bank Indonesia Governor Darmin Nasution said the country`s foreign exchange reserves were enough for six months of imports and paying government debts.
Indonesia seeking more trade with Russia
Indonesia is seeking to increase bilateral economic cooperation with Russia , a big country with A high per capita income.
BI maintains key rate at 6.5 percent
Bank Indonesia (BI) maintains its key rate or BI Rate at 6.5 percent, which has been fixed since the past one year.
RI saves Rp21 trillion from conversion program
Indonesia has saved Rp21.38 trillion in fuel subsidies since the kerosene-to-gas conversion program was launched in 2007, state oil and gas company Pertamina said.
Lebak fishermen hit hard by continuing bad weather
Fishermen in Lebak District, Banten, have complained about their meager fish catches lately due to continuing bad weather conditions marked by strong winds, rain or huge waves in the Indian Ocean.
Govt optimistic to keep 2010 inflation within target range
The government has reiterated its optimism that it will be able to keep this year`s inflation rate within its target range.
Rupiah up 20 points late Thursday
The rupiah strengthened late Thursday at a lower pace than the day before as investors reduced their rupiah buy-ups, an analyst said.
Govt targets one million barrels of oil in 2014
The government has targeted an oil lifting of over one million barrels per day (bopd) in 2014, a senior official said.
Indonesia to keep promoting tourism in KL despite strained ties
Indonesia will keep promoting its tourism in Malaysia despite strained ties between the two neighboring nations over sea border disputes, a Culture and Tourism Ministry official said.
Garuda promotes Ambon tourism enchantment
The National flag carrier Garuda Indonesia promotes eastern Indonesian city of Ambon in its cabin magazine of June 2010 edition.
Low oil/gas exports cause July trade deficit: minister
Finance Minister Agus Martowardojo said on Thursday the oil and gas sector`s lackluster export performance was to blame for the country`s trade deficit in July, the first since early this year.