Mainland Chinese and Indonesian state-owned companies Friday signed a US$5.5 billion deal to build the first high-speed railway in Southeast Asia's top economy, after Beijing beat Tokyo to win the construction project.
U.S. mining giant Freeport-McMoRan has won assurances on its future in Indonesia, allowing it to move forward with plans to invest US$18 billion in the world's biggest underground mine, the company and government officials said.
Indonesian teacher Nina Ramadhaniah hopes for "blessings from Allah" by opening a sharia bank account -- the sort of pious customer the world's most-populous Muslim-majority country is praying for as it launches an Islamic finance drive.
At least 35 people were injured Wednesday when a packed commuter train slammed into the back of another at a station in the Indonesian capital Jakarta during rush hour, an official said.
Despite serious plunges in the stock market, coupled with a faltering Indonesian economy and a declining rupiah, the Indonesia Stock Exchange (IDX) says that seven companies still plan to hold initial public offerings (IPOs) before the end of the year.
Indonesia will issue permits to import another 50,000 cattle, the government said, after beef prices soared and butchers went on strike following a decision to dramatically reduce shipments from Australia.
Inflation remained unchanged yet high in Indonesia in July despite predictions of easing, as consumers stocked up on food and transport tickets ahead of the Muslim holiday of Eid, government data showed Monday.
Bank Indonesia (BI) has warned that the rupiah's depreciation might exert stronger inflationary pressures this year, with the central bank consequently forced to intervene more aggressively in the market to stem excessive declines in the currency.
In an attempt to attract more foreign investment, Indonesia has streamlined its investment application process and aims to create 25 special economic zones in the future, said Indonesia Investment Coordinating Board (BKPM) Chairman Franky Sibarani yesterday.
Peter Sondakh, the Indonesian billionaire, made his fame and fortune turning around sickly state-owned enterprises into hugely profitable companies.