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Archive for the ‘Economic’ Category

Global economic recovery helped spur the increase in demand for vegetable oil. Palm oil is now becoming increasingly popular because of cheap price and supply of lots. National oil producers an opportunity to increase exports while pushing the government to overcome practices that interfere with the image of Indonesia in the international market. India’s palm oil demand is expected to increase from 6.5 million tons in 2009 to 7.3 million tons this year. Similarly, China’s vegetable oil market analysts estimate the increase in welfare will trigger an increase in China’s palm oil imports at least 750,000 tons.
This condition makes Indonesia an opportunity to increase export volume of more wide open.This is supported by Malaysian palm oil production predicted to decline from 17.5 million tons in 2009 to 17.2 million tons due to replanting.

According to Oil World, the vegetable oil market research institute based in Germany, the world’s oil and fat consumption will reach 169 million tons in 2010. Palm oil plays 22.7 percent (45.9 million tons) and the highest growth of other vegetable oils for the last three years.
The increase in demand would have an impact on prices. However, palm oil prices moved down last week after the beginning of March fluctuated between 800 dollars and 850 dollars per ton in Rotterdam.

PT Nestle Indonesia invested U.S. $ 100 million (approximately Rp 900 billion, according to 2010 exchange rates) by extending the milk processing plant in Kejayan, Pasuruan, East Java (East Java). ”This investment by Nestle on consumer confidence, security in Indonesia, and increased absorption of fresh milk from 30,000 dairy farmers in East Java, who are members of 30 cooperatives,” said President Director of PT Nestle Indonesia, Arshad Chaudhry.

Milk processing plant area of 22 hectares (ha) which was previously able to absorb 620 thousand liters of milk per day at the farmer level, the present production capacity increased from 100 thousand tons per year to 200 thousand tons. By doubling the production capacity, Nestle optimistic will reach the target of fresh milk to absorb as much as 1 million liters per day. ”We have a strategy and planning in developing a dairy in East Java and also nationally in Indonesia. Therefore, we do not worry about the absorption of fresh milk as much as 1 million liters per day,” he said.

Confidence will achieve the target of the absorption of milk that much, go Arshad, based on experience during the past three years showing positive results, namely the supply of milk is always increasing. ”It also is the basis why Nestle to invest.”

Citigroup, at  local time said it plans to pay back about U.S. $ 20 billion to the U.S. government as part of the program to rise from a bailout (bridging) a large scale.

Citigroup says buy back preferred shares of U.S. investment in the company’s finance department through Troubled Asset Relief Program (TARP) of U.S. $ 700 billion in an effort to stabilize the financial system.

The biggest recipient of bank bailouts from the U.S., Citi said the government also canceled the additional guarantee of the state in what is called an agreement to share losses (loss-sharing).

Citi maintains its circulation through a series of state rescue for the financial crisis, sold U.S. $ 20.5 billion in new securities under a plan to replace the U.S. government capital.

But after a tepid response to its share offering, the government canceled plans to sell common stock. Officials said the government authorities who hold the stock for about a third, most likely it will sell shares in 2010.

Composite Stock Price Index (CSPI) Indonesian Stock Exchange (IDX), Friday (4 / 12), at the opening of markets to break the psychological limit of 2500 points to 2501.123 or increase 2959, because the market players are still buying stocks and shares cheap seed . Capital markets analyst, Krisna Dwi Setiawan in Jakarta, Friday (4 / 12) says, the index IDX will bounce back, because the foreign market players are optimistic, especially the Indonesian economy would grow better. Moreover, Indonesia is one country that its economic growth including the forefront in Asia, after China and India, he said.

Krisna Dwi Setiawan who also PT Valbury Asia Securities analyst, said ahead of the Indonesian capital market will still be interested in foreign players, after a case of financial crisis, Dubai and the United States plans to remove the dollar in 2010. The market will be flooded with dollars that drive financial markets and the domestic stock market strengthened, he stressed. According to him, which shares much in demand in the market, especially in the automotive industry, tobacco industry and mining. Sector stocks are the main factors that triggered the IDX index broke the 2500 points, he said. Indonesian economy is expected to grow above five percent is the driving factor of foreign players placing their funds in the domestic market. The trend of foreign investment was a moment that must be utilized the best of global economic growth in 2010 let alone faster than the previous year, he said. Stocks that rose among others, Bukit Asam rose Rp250 to Rp18.100, Astra International shares rose Rp200 to FRp32.800, Gudang Garam shares rose Rp150 to Rp18.750. Also shares of Gas, Medco and BCA respectively be increased to Rp50 Rp4.025, Rp2.850 and Rp4.950.

Nokia, the world’s largest mobile phone maker,  said it will cut about 330 workers in Finland and Danish as part of downsizing in the research and development.  ”The changes planned estimated impact on approximately 230 Nokia employees in Oulu in Finland and about 100 employees in Nokia Copenhagen,” the company said in a statement.Nokia said it will try to find a new position within the company for the affected employees and offers voluntary resignation packages to some.

Nokia shares fell on news that the down 1.65 percent to 8.95 euros (U.S. $ 13.31) on the Helsinki stock market. Currently, Nokia has about 17,000 employees in research and development, including more than 2000 in Oulu and more than 1000 in the Danish capital.  The mobile phone giant launched a cost cutting program in January, after falling as consumers reduce their income to buy the handset in the midst of the global financial crisis. This program aims to generate more than 700 million euros (U.S. $ 1.0 billion).  Before Friday, Nokia has announced about 3,700 job reductions since January, including about 1,300 voluntary redundancy package. Last month, Nokia recorded a surprise by reporting third-quarter net loss of 559 million euros in the midst of increasing competition in the smartphone market and problems with joint venture Nokia Siemens Networks.  The next day, Nokia appointed Timo Ihamuotila as chief financial officer Rick Simonson replaced. Earlier this month, Nokia Siemens Networks announced it would cut between 4500 and 5800 workers in 2011 to improve profitability.

Japanese automaker Suzuki will transfer the production of two-wheeled vehicles from Thailand to Indonesia in 2010. It was said President Director of PT Indomobil Suzuki Motor (SIM), Yoshiji Terada, in Jakarta. Some of the reasons that Japanese automakers are transferring production motorcycle to the ground water, namely the large Indonesian market potential, natural resources and non-oil and gas, and transportation needs are still great. Apart from supplying motorcycles in the country, Suzuki currently exports its products to the Philippines. ”If today we export to the Philippines in the form of new assemblies (completely knock down / CKD) as many as 10,000 per month,” he explained.

The plan, Suzuki will export back to two-wheel vehicles to Thailand, Vietnam and even Cambodia, in addition to the Philippines. According to Terada, spare parts export product composition is 90 percent still comes from Indonesia. ”Anyway our goal to ASEAN,” added Terada.  Earlier he said that Suzuki will add investment of U.S. $ 50 million U.S. dollars to increase motorcycle production capacity 40 percent in Indonesia. Increasing production capacity of 500,000 motorcycles to 600,000 thousand units per year to 720,000 units will be conducted in the year 2010.  Most investments will be used to increase motorcycle production capacity of skutik become 50 percent more than current production reached 200,000 units per year. SIM will also be launched at least seven new motorcycles are among skutik. However, most types of motorcycles to be launched is the duck (underbone) and reinforced the motor (backbone).

Export price of cocoa which lasted expensive or about U.S. $ 2,900 per metric ton until this weekend to make it to the Indonesian demand for commodities is still declining. ”The price of cocoa exports 2900 U.S. dollars per metric ton was up high enough compared to some months ago, so the interest decreases with the pretext of buying prices are not suitable anymore for the industry,” said President Director of PT Sarimakmur Tunggal Mandiri, Suryo Maco, in Medan.

Although demand for quiet, according to him, cocoa prices in local markets such as North Sumatra also remained high or in the range Rp26.500 per kg. ”All of mutual self help. Buyer resist purchasing, while exporters also do not want to release with lower prices because local prices too expensive to survive,” said Suryo. As a result of actions buyer who still wait and see, he said, the transaction only to meet existing export contracts. ”It is difficult to detect subsequent requests including whether the price could go down or even go up again, because many factors that affect transactions or prices on international markets,” he explained. He mentions, although North Sumatra cocoa production is not too large, but demand is high enough into the area because of the typical cocoa flavor. ”This year it’s lonely and it demand for the impact of global crisis,” he said.

BPS Chief of North Sumatra, Alimuddin Sidabalok, mentions, compared to a group of other goods, the value of foreign exchange earnings from cocoa, including a low-cut at this year. In January-September 2009 for example, he said, the value of cocoa exports fell only 3.97 percent of North Sumatra to 77.964 million U.S. dollars from the same period last year which reached 81.188 million U.S. dollars. While other commodity export values fell an average of over 10 percent. ”Even animal fats and oils / vegetable export value fell to 46.78 per cent,” he said.

U.S. hybrid car producer, Fisker Automotive, will operate again in the Delaware General Motors factory that was closed to build fuel-efficient vehicles, electric cars.

Vice President of the United States, Joe Biden, said at local time, reopening the plant was part of the government’s determination to start producing Obama’s fuel-efficient vehicles in the world’s largest economy. ”Thanks to a real commitment from government, loans from the Department of Energy, U.S. corporations creativity and resilience of large government partners, such as Delaware, we’re on our way to help the U.S. auto industry to return to the top position in world markets,” said Biden.

Fisker Automotive said it has signed a memorandum of understanding with Liquidation Motors Co.., (MLC), formerly known as General Motors Corp., To purchase the Wilmington factory worth U.S. $ 18 million. Investors that the company owners said it would spend additional funds worth U.S. $ 175 million to update and retool the factory for three years.

The funds came from a conditional loan worth U.S. $ 528.7 million from the Department of Energy provided to the company in September. This loan is part of the Advanced Technology Vehicle program Manufakture loans worth U.S. $ 25 billion, which was prepared by the Congress in 2007. Meanwhile, the remaining funding requirement of U.S. $ 169 million is a loan from Fisker which will be spent in a place that company in California and Michigan.

Fisker will use the plant in Wilmington to work on projects that produce electric vehicles Nina’s family oriented. The plan, Fisker start production in late 2012 and will be full-capacity vehicles 75000-100000 units in 2014. This new hybrid vehicle will be drawn by an electric motor-powered lithium-ion batteries. When the battery is discharged, the car will be powered by a generator driven gasoline engine. The car would be sold for about U.S. $ 39,900 after deduction of state tax credits

Indonesia is predicted to become one of the nation’s largest energy importer in 2020, when the national energy system in general still rely on conventional energy sources.

“Power system is still dependent on the use of coal, oil and gas as an energy source,” said Head National Nuclear Energy Agency (Batan) after opening a seminar Hastowo Jewish Readiness science and technology infrastructure to support the implementation of nuclear energy systems in Indonesia Solo, Central Java.

The seminar was opened Provost (PR) I University Eleven March Surakarta (UNS), Prof. Dr. MS Ravik Karsidi.

Hastowo said to meet energy needs, Indonesia imports fuel oil (BBM), 350 thousand barrels per day, and subsidies incurred to purchase fuel tetsebut reached Rp70 trillion.

“This condition will be heavier if not looked for other alternatives to meet energy needs,” he said.

In planning the construction of nuclear power generation, Batan has also recommended three places namely Weak Edge Abang, Ujung Watu and end all of whom entered the area of Muria in Jepara regency, Central Java.

To select the location of nuclear power plants has been studied rigorously, including the aspects of safety and comfort of residents. For that expected by society not to feel worried about leakage accident occurred.

“Japan as one of the earthquake-prone countries, 55 nuclear power plants, because it is a choice that can not be avoided, and in Indonesia also would like in Japan. For that from now on must continue to prepare ourselves better people and scientists who will handle this problem , “he said.

The traders in Indonesia apparently still leaves keoptimistisan high enough to trade prospects antartiga countries during the next three months.

This was revealed in a survey of Hong Kong and Shanghai Banking Corporation (HSBC) Trade Confidence Index in the third quarter. The survey, conducted in August-September that produces confidence index traders in 12 countries around the world such as China, Indonesia, Vietnam, Malaysia, Hongkong, United ingdom (UK), Australia, America, Brazil, Singapore, India and the United Arab Emirates.

In the survey, Indonesia is in second position, after China, with a confidence index of 120.Inedks China reached 121.

Senior Vice President, Head of Trade and Supply Chain Indonesia HSBC, Vincent Sugianto, megatakan, with that index can be concluded that the entrepreneur in Indonesia is still optimistic in view the prospects of interstate commerce.

PT Industrial Engineering inaugurated the first piling piling projects Ammonium Nitrate in the industrial area of PT Kaltim Industrial Estate (KIE), Bontang, East Kalimantan.  “When the ammonium nitrate plant was later operated, Indonesia would have the largest ammonium nitrate factory in Asia. That means, the needs of ammonium nitrate in the country will be met as a whole, so no need to import, \” said the CEO of PT Industrial Engineering Triharyo I Susilo in an electronic letter to the Media Indonesia.  Triharyo expressed his pride has been trusted to build the plant would be operated by PT Kaltim Nitrate Indonesia (KNI). KNI is a consortium between Armindo Group Pte Ltd and Orica Australia. The inauguration was attended, among others, the Governor of East Kalimantan, the Mayor of Bontang, East Kalimantan Fertilizer Directors along with the entire staff, CEO of PT Industrial Engineering Triharyo I Soesilo, President Director of PT Kaltim Nitrate Indonesia (KNI) Earring Pandoyo, KNI shareholders, CEO Armindo Group, Winniarlita, and CEO of Orica , Graeme Liebelt.  Construction of this plant has a strategic value and importance to meet the needs of ammonium nitrate in the country from year to year increase, while world demand for these products is also increasing.

The factory will produce ammonium nitrate prilled of 300,000 tons per year is focused to support the needs of the domestic market ranging from 350,000 tons per year.
Currently the production of ammonium nitrate in the country is only 40,000 tons per year from only one manufacturer, namely, PT MNK, which is located in Cikampek, West Java.  With the operations of ammonium nitrate plant owned by PT KNI in the year 2011, dependence on the mining industry a very high level of ammonium nitrate products imported from abroad will be much reduced. In addition, foreign government that has been used for ammonium nitrate imports amounted to about U.S. $ 180 million per year will be saved.  Ammonium nitrate plant using ammonia as the main raw materials available and produced in huge quantities by some industries in the industrial park environment KIE, so the added value of ammonia that had been enjoyed by producers of ammonium nitrate in foreign countries will be able to move to Indonesia.  Availability of manpower in Bontang experienced or at least who are familiar with the petrochemical industry is an important consideration in choosing the location of the factory, besides of course the availability of adequate facilities and infrastructure within the industrial area of IEC.  The number of workers to be absorbed ammonium nitrate plant construction project is approximately 1000 workers at the time of surgery, while approximately 200 people.  Ammonium Nitrate is an explosive raw materials to meet the purposes of the mining industry in Indonesia.

General Motors and eBay on Monday announced, will begin selling new cars and trucks in the online auction site. This program will initially involve 225 Chevrolet car dealership, Buicks, Pontiac, and GMC in California, GM and eBay said in a statement. Customers will be able to click and buy vehicles online at the website beginning Tuesday, September 8th gm.ebay.com after browsing through an online exhibition space, negotiating prices, and arrange financing with agents.

“Buyers can see different options up to 20,000 new GM vehicles at very competitive prices,” they said. EBay already offers many of the popular used car through eBay Motors site. GM was the first U.S. automaker to offer a new vehicle online through eBay. Vehicles that can be purchased through regular eBay Buy it Now format, which means the buyer agrees to pay the advertised price. Or through the Best Offer option which means that the buyer indicate they are willing to pay that price. “With 12 million car buyers who visit our site every month, eBay Motors is distinctive about the people who prefer to buy a car,” said Rob Chesney, vice president, eBay Motors. ”Through this program, we will help GM dealers to physically expand their exhibition space,” he said.

New board of directors of General Motors,  consider selling the unit Opel, Europe, at the first meeting since the company’s automotive received bankruptcy protection. GM Chief negotiators said last week that a bid by a Belgian investment group RHJ International will be easier to implement than one by a Canadian group Magna.

But German government – which offers up to 4.5 billion euros (U.S. $ 6.4 billion) in cheap loans and Guaranteed loan as part of the rescue for Opel – Magna offering support, for fear RHJ will cut the number of employees.

A spokesman for GM’s men refused to say when the sale decision will be made. ”This is a complex problem and much work to be done to get the best solution,” said spokesman Tom Wilkinson. GM and Magna have signed the treaty, but the conversations they experience an impasse.Therefore, bidding GM RHJ has been allowed to negotiate with Magna to gain a stronger position.

U.S. pharmaceutical company Wyeth, said its shareholders agree to takeover deal by rival Pfizer. so that more and raise the largest drug producer in the world. According to Wyeth, an initial count showed 98 percent of the shareholder vote approving the merger. ”Mergers are the best in the interests of the company and our shareholders,” said Wyeth’s chief executive, Bernard Poussot.

Join with Pfizer, Poussot see opportunities to increase the scale and resources necessary to become the world’s leading biopharmaceutical company and leader in the industry of human and animal health care, both in the prevention or treatment of disease. The combined organization will continue the mission of bringing innovative solutions Wyeth medical patients around the world. Pfizer, the world’s largest pharmaceutical company, announced merger plans in January and looking for diversification in preparation for the termination of patent rights on medicines phenomenal. The total transaction value of U.S. $ 68 billion (48.2 billion euros) seems to be the largest takeover in the global pharmaceutical sector since Pfizer acquired Warner-Lambert Co.. worth U.S. $ 93.4 billion in 2000.