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Business

  • Govt to take harsh measures against tax evaders: VP

    The government will take harsh actions against those evading payment of taxes, regardless of their social and economic backgrounds, says Vice President Jusuf Kalla.

  • BKPM to put stalled projects back on table

    The Investment Coordinating Board (BKPM) is aiming to settle a number of projects in Papua and West Papua that have been stalled, mostly because of land disputes and infrastructure problems, as part of an attempt to boost investments in the eastern part of the country.

  • RI to double fish farming production in five years

    The government has set a target to achieve 31 million tons of fish from farming in 2019, a two-fold increase compared to the archipelago’s yearly production.

  • New smartphone regulation may boost smuggling

    The government’s plan to require smartphone manufacturers to use local components may help the local cellphone industry, but trade observers warn that the restriction will also encourage smuggling.

  • Uber reviews payment tools to net more customers

    Ride-booking company Uber is reviewing the possibility of using other forms of payment than just credit cards to tap deeper into the country’s market, which has very low credit card penetration.

  • Danamon expects brighter performance after gloomy year

    Publicly listed Bank Danamon expects to bolster lending by 15 to 17 percent this year after seeing flat loan growth and suffering a decline in net profits last year, its executives say.

  • Wika seeking to double number of overseas contracts

    State-run construction firm Wijaya Karya (Wika) is looking to double its overseas contracts to about Rp 4 trillion (US$314 million) this year from Rp 1.8 trillion with the recent signing of new contracts in Malaysia and the Middle East.

  • Garuda to fly to nine secondary cities in China

    National flag carrier Garuda Indonesia plans to expand its international network to new points in China this year in order to take advantage of the growing demand for leisure travel.

  • JCI rises 0.51% at Friday’s close

    The Jakarta Composite Index (JCI) closed on a positive note on Friday, rising by 0.51 percent to 5,289.40 points.

  • Rupiah depreciates to Rp 12,672 per dollar at Friday’s close

    The rupiah interbank trade rate in Jakarta in Friday’s closing session was down by 90 basis points to Rp 12,672 per US dollar from Rp 12,582 per dollar in the earlier trade.

  • Freeport asked to build smelter in Papua

    Papua Governor Lukas Enembe has told PT Freeport Indonesia to establish its planned smelter in Papua or risk being banished from the country’s easternmost province.

  • Freeport slammed for high occupational accident rate

    Energy and Mineral Resources Minister Sudirman Said has criticized PT Freeport Indonesia for what he deemed was poor occupational safety at its mining site in Timika, Papua, with the death toll reaching 30 in occupational accidents over the years.

  • Rupiah opens at Rp 12,504 on Friday

    The rupiah interbank trade rate in Jakarta depreciated in Friday’s opening session by 24 basis points to Rp 12,504 per US dollar from Rp 12,480 per US dollar in the earlier trade.

  • Govt to sell LNG through spot market amid low domestic use

    Despite a low selling price, the government will sell some cargoes of liquefied natural gas (LNG) through the spot market this year because of weak domestic consumption.

  • Surya Semesta sees contracts slump by 30% in 2014

    Despite a slump in construction contracts and property sales in 2014, developer and construction holding company Surya Semesta Internusa is upbeat about booking a better performance this year on the back of an improving industry.

  • BPJS TK gains Rp 18.1t from investment

    The Workers Social Security Management Agency (BPJS TK), which manages Rp 187 trillion (US$14.9 billion) worth of social security funds collected from employers and workers, gained Rp 18.1 trillion in investment returns in 2014.

  • House criticizes SOE capital stimulus, seeks clearer objectives

    The government’s plan to inject capital into several state-owned enterprises (SOEs) has hit a rough patch as the plan came under heavy scrutiny at the House of Representatives.

  • Economy in brief: Pindad spends Rp 700b to improve capacity

    State-owned weapons manufacturer PT Pindad said it had allocated Rp 700 billion (US$55.5 million) in state capital injection to improve the production capacity of its weapons and ammunition division.

  • Economy in brief: Rupiah closes at 12,482 per dollar

    The rupiah interbank trade rate in Jakarta at the close of Thursday’s trading day appreciated slightly by five basis points to Rp 12,482 per US dollar from the previous Rp 12,487 per dollar.

  • JCI climbs 0.54% Friday morning

    The Jakarta Composite Index (JCI) opened on a positive note on Friday as it climbed by 0.54 percent to 5,291.06.

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