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Business

  • Astra Otoparts sets up JV with Bridgestone

    Auto-component maker Astra Otoparts — part of diversified conglomerate Astra International Indonesia — is set to establish a joint venture with the world’s largest tire manufacturer Bridgestone Corporation, partnering to make rubber-based components.

  • BTN seeks partners to boost cheap funds

    State lender Bank Tabungan Negara (BTN) plans to forge more partnerships with state institutions to generate more cheap funds, according to its executive.

  • Smartphone makers back local content regulation

    Major smartphone manufacturers have welcomed the government’s new regulation on the mandatory use of local components in 4G smartphones distributed in Indonesia.

  • AP II, Garuda Indonesia told to improve delay management

    Transportation Minister Ignasius Jonan has instructed state-owned airport operator Angkasa Pura II (AP II) and national flag carrier Garuda Indonesia to improve their flight delay management following a fire incident at Soekarno-Hatta International Airport in Tangerang, Banten on Sunday morning that disrupted flight schedules and left thousands of passengers stranded.

  • Government tightens grip on imports to cut dwelling time

    The government has stepped up its efforts to reduce dwelling times at ports by implementing stricter importation procedures.

  • Economy in brief: Tabalong’s production targets achieved

    The head of the Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) operation division for Kalimantan and Sulawesi, Roy Widiarta, has said its crude oil production target of 3,500 barrels per day in Tabalong regency, South Kalimantan, has been achieved.

  • RI, Oz lawmakers collaborate to help boost investment

    Indonesia’s Regional Representative Council (DPD) and the Australian Senate have agreed to cooperate to forge a mutual relationship in investment and other areas, according to an Indonesian legislator.

  • Jokowi plans big spending in 2016

    The Joko “Jokowi” Widodo administration is planning a 20 percent annual increase in state spending in the 2016 state budget as the President looks to spend more on growth-generating infrastructure projects next year.

  • US stocks fall after Greek 'no' vote; European markets sink

    Stocks in the U.S. fell broadly in afternoon trading Monday following sharper drops in Europe and Asia as Greeks voted to reject the spending cuts and tax increases demanded by its creditors for additional loans.

  • Countries urged to relaunch productivity to boost growth, well-being

    New Organization for Economic Co-operation and Development (OECD) research reveals that policy reforms can revive the diffusion of innovation and make better use of human talent for higher and more inclusive productivity growth, despite a slowdown in productivity over the past decade.

  • Gas reserve discovered in Penajam

    Energy company PT Saka Energi Indonesia (SEI) says it has discovered a gas reserve containing more than 500 billion cubic feet of gas in the South Sesulu (Sesulu block) working area in Penajam Paser Utara, off the coast of East Kalimantan.

  • Rupiah strengthens to Rp 13,293

    The rupiah interbank trade rate strengthened by 28 basis points to Rp 13,293 per US dollar in Tuesday's morning session from Rp 13,321 per dollar in previous trading.

  • Pertamina EP Sangatta oil production exceeds target

    Pertamina EP Sangatta, the upstream subsidiary of state-run energy firm Pertamina in East Kutai, East Kalimantan, says its daily oil production reached 1,211 barrels per day (bpod), exceeding its target of around 1,077 bpod, in the first half of 2015.

  • Euro zone 'well placed to cope with Greek crisis'

    The euro zone seems well placed to cope with any major disruption arising from the shock Greek referendum outcome, economists say.

  • Greece's departing finance minister, brash to the end

    Greece's departing Finance Minister Yanis Varoufakis resigned Monday with the same dramatic flair with which he served.

  • US stocks fall after Greek 'no' vote; European markets sink

    Stocks in the U.S. fell broadly in afternoon trading Monday following sharper drops in Europe and Asia as Greeks voted to reject the spending cuts and tax increases demanded by its creditors for additional loans.

  • Lebaran cookies

    A seller arranges cookies at the Aceh market in Banda Aceh on Monday. Demand for the cookies, which sell for between Rp. 50.000 (US$ 3.75) and Rp. 120.000, is increasing ahead of Idul Fitri. (Antara)

  • Astra to boost infrastructure unit amid auto slump

    Diversified conglomerate Astra International Indonesia is looking to boost its future non-automotive revenues amid a slump in the industry and is aiming to enlarge its infrastructure unit with a Rp 10 trillion (US$750.75 million) investment in the next four to five years.

  • Secure sovereignty, avoid dispute: Jokowi

    President Joko “Jokowi” Widodo has given approval for state oil and gas firm Pertamina’s ambitious plan to take over the gas-rich Mahakam block, but warned the firm to maintain good communications and avoid misunderstandings with the energy stakeholders that have huge interests in the block.

  • BI relaxes funding rules as banks wait and see

    Bank Indonesia (BI) has introduced an awaited new regulation on the loan-to-funding ratio (LFR) to ease liquidity pressures in the banking system by expanding banks’ choices of funding sources.