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Old 26th October 2012, 12:01 PM   #1
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Default Business and Economy News of Indonesia

In Indonesia, Muslim charities fundraise online for Eid al-Adha sacrifice

By Ben Bland | Financial Times, Published: October 25

JAKARTA, Indonesia — As she stands by a pile of steaming dung, wearing a cowgirl costume and heavy make-up, a sales assistant scans a cow’s ear tag before checking its health and price information on a Samsung tablet computer.

At about $17,400, the imported Dutch cow is one of the most expensive on sale at the temporary showroom set up by businessman H Doni to meet surging demand for high-quality, healthy animals ahead of Eid al-Adha, the Islamic day of sacrifice, on Friday.

Doni, who normally sells second-hand cars from the showroom, hopes to sell 4,000 cows this year, an increase of more than 70 percent from 2011.

Customers include wealthy Muslim politicians and businessmen such as the influential Bakrie family.

All Muslims with the financial means are obliged to sacrifice an animal and share the meat during Eid al-Adha to commemorate the religious story of Abraham, who was asked by God to sacrifice his own son.

The “cow mall,” as Doni calls it, is just one example of how believers in Indonesia, which is the world’s largest Muslim-majority nation, are adapting their religious practices in an era of rapid growth and social change.

“I only make a small profit margin for the Eid al-Adha business because I’m also trying to encourage other Muslims to fulfil their religious duty,” he says.

While Doni is targeting Jakarta’s fast-growing, status-conscious elite, few of Indonesia’s 200 million Muslims, who make up nearly 90 percent of the population, can afford to buy even the cheapest cow he is selling.

With nearly half of the country living on less than $2 a day, many Muslim families in Indonesia have to club together a year in advance to amass the money needed to buy a scrawny goat that has been reared on a diet of waste at a roadside shack.

To help those who cannot even stretch that far, some innovative Muslim charities have launched online campaigns to allow busy urbanites without the time to organize their own sacrifice to donate animals to the most needy in remote and poverty-stricken areas.

In a video advertisement promoting its web initiative, Dompet Dhuafa, a charity set up by Indonesia’s main Islamic newspaper, urges Muslims to buy three goats for the needy instead of a new BlackBerry, or a cow instead of an iPhone.

Andjar Radite, general manager of the Jakarta branch of the National Humanitarian Foundation (PKPU), another Islamic charity, says that 2,700 people have donated sacrificial animals via its Web site this year, an increase of 35 percent on last year.

“We have enhanced our fundraising with online campaigns and we’re seeing a whole new segment of donors who are young, professional and rich,” says Radite. “The busier people get, the harder it is to reach them through traditional means.”

Another group of young Muslims is trying to reach those too young to donate through an educational children’s game called Urban Sacrifice that tries to tap into the popularity of animal-based social networking games such as FarmVille.

Although human rights groups have warned of rising intolerance toward religious minorities, the variety of methods being used to commemorate the day of sacrifice is testament to the broad base and flexible nature of Islam in Indonesia, say religious academics.

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Old 26th October 2012, 01:18 PM   #2
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Old 25th November 2012, 12:46 PM   #3
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Indonesia sugar refining capacity to rise by a third


November 25, 2012

Indonesia's sugar refining capacity will jump by a third to 4.2 million tonnes next year as three more refineries begin production to try and meet rising demand from the food and beverage industries, an industry group said on Tuesday.

There are now eight sugar refineries in Indonesia, which is set to be crowned the world's top importer of raw sugar in the year to September 2013, with existing capacity of 3.2 million tonnes, Suryo Alam, chairman of the Indonesian Sugar Refineries Association, told Reuters.

"Demand for processed food is increasing," said Alam, who also works at Singapore-listed palm trader Wilmar's Refined Sugars Group Indonesia unit, which runs two Indonesian sugar refineries. Sugar refineries are now running at 70 percent capacity but this figure will slip to 65 percent next year as the new refineries pick up pace, he added. Sugar consumption in Indonesia, the world's fourth most populous country, with around 240 million people, is seen growing around 4 to 5 percent annually and stands at about 5 million to 5.5 million tonnes now. Helping boost this demand is industrial use of the sweetener, with raw sugar consumption by Indonesia's food and beverage industries set to climb by 9 percent this year.

Indonesia's Garuda Plans To Sell US$200 Million Bonds For Expansion

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November 23, 2012 16:05 PM

Indonesia's Garuda Plans To Sell US$200 Million Bonds For Expansion

JAKARTA, Nov 23 (Bernama) -- A senior official at Garuda Indonesia, the nation's flag carrier, said that the firm seeks to raise at least US$200 million from bond sales next year to finance its expansion plans, China's Xinhua news agency said quoting a local media's report on Friday.

Garuda's financial director Handrito Hardjono said that next year's issuance will comprise dollar- and rupiah-denominated bonds.

"With this combination, the amount of foreign-exchange loss can be minimised," Handrito was quoted by the Jakarta Globe as saying.

He did not provide any other terms of the notes, such as the tenor, coupon and investment banks to arrange the debt sale.

He said that proceeds from the bond sales should be enough to cover at least half of next year's capital expenditure, with the remaining expenses to be covered by bank loans.

"Seventy percent of our capital expenditure next year will be used for planes procurement, while the remaining will be used for working capital,"he said, without giving out the total value of the expenditure.

Indonesian companies have been selling bonds to raise funds in the past year, as the country's return to investment grade rating last year has boosted confidence in fixed-income investments.

Garuda has been benefiting from Indonesia's strong economic growth, as rising household incomes and an increase in travel to the country's many islands have made air transportation a profitable industry.

In an attempt to tap into the country's opportunities, Garuda introduced its Quantum Leap programme to revitalise its fleet and expand its network.

Emirsyah Satar, Garuda's president director, said that the airline sees brighter skies ahead with Indonesia's robust economic performance expected to continue.

"We are really capitalising on the growth of Indonesian economy, "he said, adding that the airline expects to receive 24 new aircraft next year and that"2013 will be a challenging year for Garuda."

Garuda currently operates 95 planes and will receive an additional 10 by year-end. Under Quantum Leap, Garuda projects that it will have 144 airplanes by 2015.

Citillik, Garuda's budget airline subsidiary, will operate 50 airplanes by 2015, more than triple from its current fleet of 16.

Garuda also predicts scheduling more than 1,000 flights per day by 2015, more than double from its current 400 daily flights.

Garuda's net income surged 52 percent to US$56.48 million in the January-September period from a year earlier, while its revenue rose 14 percent to US$2.39 billion.

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Old 29th November 2012, 04:57 PM   #4
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Despite Election Uncertainty, Indonesia's Growth Expected to Remain Above 6%

Muhamad Al Azhari | November 29, 2012

Boosted by consumer spending, Indonesia’s economic growth will remain above 6 percent next year, but the economy and political environment might be affected by general elections scheduled for 2014, two bank economists say.

Citibank Indonesia forecasts the economy to grow 6.1 percent in 2013, slowing from an estimated 6.2 percent this year.

Strong growth will be seen in capital-intensive industries such as chemical, metal and automotive to meet strong domestic demand.

Growth in sectors such as construction, retail and domestic-oriented manufacturing will counter the harm of weaker exports, Helmi Arman, an economist at Citibank Indonesia, said in his outlook report for 2013.

Private consumption accounts for about 60 percent of the country’s economic activity, and low borrowing costs are encouraging consumers to take out loans for purchases on cars, motorcycles and homes.

Indonesia’s economy expanded 6.2 percent in the third quarter of this year. Last year, the economy grew 6.5 percent, the fastest pace since 1996.

Eugene Leow, a Singapore-based economist at DBS Group Holdings, shared Helmi’s bullish view. Leow forecasts Indonesia’s economy to grow 6.3 percent next year from 6.1 percent this year.

This year Indonesian consumers are enjoying robust growth amid relatively low inflation and interest rates.

The central bank has kept its key interest rate at a record low 5.75 percent since February in a bid to maintain economic growth.

“However, the situation is set to change slightly. Monetary policy accommodation will be gradually withdrawn and credit growth is expected to slow,” Leow said. “Domestic demand is still strong, but will moderate amid further monetary tightening.”

Still, heightening political tensions ahead of the 2014 elections for the House of Representatives and the presidency may push workers to demand higher wages, potentially deterring overseas companies from doing business in Indonesia. That might also affect money flows, mainly foreign direct investment, into Indonesia.

The minimum wage in Jakarta, for example, will rise by 44 percent to Rp 2.2 million ($229) per month next year. Other regions, Helmi noted, may see double-digit increases next year, but “the wage hikes should not overturn Indonesia’s positive FDI outlook,” Helmi said.

“In the year heading towards the 2014 elections, there will be particular focus on the country’s political dynamics and the extent to which they affect the economic environment,” he said.

“Recent issues such as the Constitutional Court rulings, increased outside perception of resource nationalism and rising wage pressures exemplify these spillovers,” he added.

On Wednesday the Philippine government reported that its economy in the third quarter expanded by 7.1 percent, aided by domestic demand and government spending.
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Old 11th December 2012, 11:06 AM   #5
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Slovak firms to pour $1.4 billion into RI
Linda Yulisman, The Jakarta Post, Jakarta | Headlines | Tue, December 11 2012, 10:17 AM

Slovak firms will invest around US$1.4 billion over the next few years to develop infrastructure, particularly in the energy sector, and build a cement plant in Indonesia.

The projects would be carried out through a public private partnership (PPP) scheme as well as through pure private arrangements, Coordinating Economic Minister Hatta Rajasa said on Monday after attending the Indonesia-Slovakia Business Forum in Jakarta.

One of the projects in the pipeline was the construction of a coal power plant with a capacity of 2x60 megawatts in Batam, Riau Islands, he said, without specifying the value of investment.

Local media had earlier reported that the construction of the power plant, to be located on Batam’s Kabil Industrial Estate, would likely cost around $185 million and be conducted by Slovak’s engineering, procurement and construction firm, the Istroenergo Group, along with PT Pembangunan Kota Batam.

“We expect the ground breaking of the project to take place in March next year,” Hatta said, adding that apart from that, Indonesia and Slovakia were also exploring possibilities to distribute electricity or jointly build another power plant in Singapore.

In addition to investment in the energy sector, a Slovak firm, which Hatta did not name, would also set up a cement plant in East Kalimantan in an unspecified time frame.

The planned investments will further step up existing complementary cooperation between Indonesia and Slovakia, which has expertise in the technology, power generation and manufacture sectors, according to Hatta.

During the business forum, Hatta witnessed the signing of six memorandums of understanding (MoUs) by Indonesian and Slovak firms on cooperation in the energy sector, including for the power plant project, along with his counterpart, Slovak Economic Minister Tomas Malatinsky.

Malatinsky said that the cooperation in the energy sector would be strategic for both countries, particularly as Slovakia was prioritizing the sector, while Indonesia was still struggling to attain energy security.

Apart from this, Slovakia, a country the size of East Java with a population of over 5 million, aimed to forge closer economic cooperation with Indonesia, currently its main investment destination in the Southeast Asia region, which was marked by the establishment of its investment and trade development agency, SARIO, Malatinsky said.

SARIO was established to provide practical and legal assistance to Slovak firms that wanted to do business in Indonesia, he said.

Slovakian Ambassador to Indonesia Stefan Rozkopal said that in addition to investment in traditional sectors, such as machinery, electronics and agriculture, Slovak firms would possibly enter nontraditional sectors, such as information technology. Slovakia would also aim to boost bilateral trade with Indonesia, Southeast Asia’s largest economy, since currently the figure was still small.

Bilateral trade annually expanded by 6.08 percent on average to stand at $65.95 million last year. From January to September this year, trade was valued at $40.27 million, down by 10.19 percent from the previous year, according to Indonesia’s Trade Ministry statistics.

Indonesia’s exports to Slovakia comprise palm oil, natural rubber, footwear and accessories for video recording, while imports consist of machinery, electronics, vehicles and explosive substances.

The Trade Ministry’s director for export products and creative economy development, Dody Edward, said that Slovakia, a nontraditional export destination, could also serve as a hub to enter neighboring countries.
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Old 11th December 2012, 11:10 AM   #6
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Indonesia's Wheat Imports Set to Jump at Least 19% on Flour Tax
December 10, 2012

Wheat purchases by Indonesia, Asia’s largest buyer, may soar at least 19 percent in 2013 as a flour-import tax increases demand for the grain, an executive said.

Shipments will probably rise to 7 million metric tons from 5.9 million tons in 2012, said Franciscus Welirang, chairman of the Indonesian Flour Mills Association. Purchases could be higher as the forecast doesn’t include the increase in domestic demand and the level of the inventories, he said. That would beat the record 6.61 million tons of wheat, flour and products imported in the year that ended in June last year, US Department of Agriculture data show.

Futures rallied 32 percent this year as demand for the world’s most consumed food-grain outstripped harvests cut by drought from the United States to Australia. That may boost food costs that fell for a second month in November. The market may be “underestimating the problems” in wheat supply, Abdolreza Abbassian, an economist at the United Nations Food & Agriculture Organization, said on Dec. 6. World wheat stockpiles will shrink this year to the smallest since 2009, according to the USDA.

“The situation is fragile,” Welirang said in a phone interview on Dec. 7, referring to global supply. While he declined to give a forecast, a price increase “is what everybody is expecting because of lower international stocks,” he said.

The government plans to impose a 20 percent duty on imported flour for 200 days to protect local mills, Bachrul Chairi, head of the Indonesian Trade Safeguard Committee, said on Dec. 7. The World Trade Organization has been notified and the date for the tariff to become effective will be announced after the regulation is finalized by the Finance Ministry, he said.

Four-Year High

Wheat for March delivery fell 0.4 percent to $8.58 a bushel on the Chicago Board of Trade at 10:07 a.m. Singapore time. Futures reached at four-year high of $9.4725 in July.

About 900,000 tons of flour, milled from about 1.1 million tons of wheat, are estimated to be shipped to Indonesia this year, Welirang said. The duty will make imported flour more expensive than the domestically milled product, boosting imports of the grain, he said.

Consumption of wheat and flour in the fourth-most populous nation, will probably rise as much as 7 percent from 6.8 million tons this year, said Welirang, director of Jakarta-based Indofood Sukses Makmur, owner of the world’s largest wheat mill.

Indonesia, which doesn’t grow wheat, relies on imports to meet its demand for the grain used in making bread, noodles and pasta and feed for pigs and chickens. The country will import 6.6 million tons in the year that began July 1, up from 6.46 million tons a year earlier, the USDA estimates.
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Old 17th December 2013, 08:46 AM   #7
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Toshiba kembangkan industri di Indonesia

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Old 12th January 2023, 06:07 PM   #8
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Historical Dramas
Historical dramas are a type of television series that takes place in the past. They are usually set in ancient or medieval times and follow accurate historical figures and events. Historical dramas are often based on historical fiction but are not considered true dramas because they do not tell a story with a beginning, middle, and end.
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