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The government has proposed an economic growth of 5.6 percent in the Draft 2015 State Budget, considering the improvement in economic fundamentals and economic stability as well as conducive external factors.
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Vice President Boediono has instructed relevant ministers and officials to maintain food price stability in the face of subsidized fuel price hikes and the fasting month of Ramadhan.
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The Indonesian Embassy in Berlin has implemented a one-hour visa service for tourists wishing to visit the country, Ambassador Eddy Pratomo said here on Friday.
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Coordinating Minister for People`s Welfare Agung Laksono said that the government had allocated funds totaling Rp1.3 trillion to procure rice for the poor (raskin) to be provided in the 13th package.
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Hutomo Mandala Putra, the son of late Indonesian president Suharto, has started his effort to finally become a president. An aide of Tommy, as he is widely known, has said this to the press. Tommy has built up quite an impressive 'track record' in legal matters, including a conviction for murder. He is now seeking to become the new leader of the Golkar Party, the political movement of his father, which has been in turmoil after loosing the recent elections.
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PT Freeport Indonesia, a unit of Freeport McMoran Copper and Gold Inc., said on Wednesday that it will look for efficiency and was to delay exploration projects, following lower world copper prices. But spokesman of the company Mindo Pangaribuan said that the firm, which has cut 75 jobs at its Jakarta office recently, was still optimistic that the prices could recover in coming months.
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Indonesia planned to raise spending on infrastructure next year to 100 trillion rupiah (some 6.5 billion euro) from this year's 60 trillion rupiah (about 3.9 billion euro) to create jobs and boost economic growth in an effort to cushion the impact of the global financial routs, the finance ministry said here Wednesday. The global economic turmoil is predicted to deepen in 2009, particularly in the first quarter, Indonesian acting Coordinating Minister for Economy Sri Muyani Indrawati said.
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Indonesia has revised down its investment target next year to 17 billion U.S. dollars from the previous target of 20 billion U.S. dollars, due to the fallout of the global financial problems, chairman of the country's investment board Muhammad Lutfi said here Monday.
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Indonesian President Susilo Bambang Yudhoyono announced on Sunday the reduction of oil prices to protect the country's economy from the fallout of the global financial crisis. The president made the decision after a cabinet meeting on Sunday evening, following the ease of the global oil prices to nearly 40 U.S. dollars a barrel from a record of over 147 U.S. dollars a barrel on July 11.
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The number of Indonesia's car sales in November dropped to over 47,000 units from that of 54,000 units in the previous month, chairman the Indonesian Automotive Industry Association Bambang Trisulo said here Tuesday. The high interest rates, tumbling commodity prices and lack of U.S. dollars liquidity as a fallout of the global financial turmoil, have started battering consumption.
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Indonesia has obligated state-own firms to place their U.S. dollars in the country and speed up the implementation of project funded by donors, Coordinating Minister for Economy Sri Mulyani Indrawati told a press briefing on Tuesday evening after a sudden cabinet meeting. The measure was aimed at boosting Rupiah value which has been declining against the U.S. dollars due to the impact of global financial turmoil.
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Indonesia closed its stock exchange for the second day to halt a flurry of selling that sent the main stock index plummeting more than 20 percent this week, while Asian trading ended mixed. Stock exchange president Erry Firmansyah said it will remain closed to give investors a chance to "calm down before they make decisions."
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Indonesia must face the current global economic turmoil by taking concrete and substantial steps, as the turmoil cannot be solved with conventional ways, an economic analyst Sutrisno Iwantono said. He added that Indonesia needs to take immediate steps such as diversification of export destinations, strengthening the domestic markets, as well as reinforcing the agricultural bases in rural areas, to salvage the national economy.
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Furious media accused authorities Wednesday of lying after officials erroneously reported that rescuers had found wreckage and survivors from a missing airliner carrying 102 people. "The people have been lied to," said the Pikiran Umum daily, as search and rescue teams hunted for the plane which vanished off radar screens Monday en route from central Java island to the island of Sulawesi.
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Legend has it that the Tengger ethnic group in the Bromo-Tengger-Semeru area of East Java is descended from the ancient Majapahit royal family. The name "Tengger" itself is said to be an acronymic derivation of two legendary figures from the region, Rara Anteng and Jaka Seger. As it has been long told, during a time of chaos for the Majapahit kingdom, Princess Rara Anteng took refuge in the area around Mount Bromo. While she was being evacuated, Rara Anteng met Jaka Seger, the son of a priest from the kingdom of Kediri, which was also in great turmoil. Their meeting was the beginning of a love story, and the area was later christened after their combined names.
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Prosecutors insisted Sunday the death sentence for three men convicted for their role in the sectarian conflict in Poso, Central Sulawesi, would be carried out soon despite mounting calls for a stay of execution. Central Sulawesi Prosecutor's Office head M. Jahja Sibe said technical difficulties were holding up the execution of Fabianus Tibo, 60, Marinus Riwu, 54, and Dominggus da Silva, 43, three Christians who were convicted of masterminding a series of attacks on Muslims in Poso in 2000.
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Indonesian Islam will remain moderate and tolerant by and large, but problems and challenges will continue to exist. The future of Indonesia depends on the ways in which the government and various Muslim groups actually act in public life. While violence, discrimination, and grievances are still felt among the minorities, especially non-Muslims, the Muslim majority continue maintaining the tolerant, moderate character of the country. A small number of hard-liners and terrorists will be disproportionately influential, but the tolerant, moderate majority and the government will not be silent.
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Indonesia's government on Friday night raised key fuel prices by a higher-than-expected average of 126 per cent and announced a plan to bring prices in line with the global market in moves likely to test the patience of its people for tough reforms.
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The crisis of confidence that has come back to haunt the rupiah for the second time in eight years is making some analysts wonder if Indonesia would be better off without a central bank. After all, what's the good of having a monetary authority when it can't protect the purchasing power of the currency it issues?
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For the first time in history, Indonesia has a president who was directly elected by the people. Susilo Bambang Yudhoyono and Jusuf Kalla, or more popularly known as SBY and JK, will have taken oath this morning, as the country's new president and vice president. Hopes are high that the pair can make a difference and bring about a better future.
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Hafi, a 35-year-old businessman, is nostalgic for the old days of military dictatorship in Indonesia. Six years after the democratic overthrow of military ruler Suharto, he is fed up with the turmoil that he blames on civilian leadership. And so on Monday he will vote for one of Suharto's former generals, Susilo Bambang Yudhoyono, a charismatic populist who has soared dramatically to the top of the polls in Indonesia's presidential contest.
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Former dictator Suharto has topped a list of the world's most corrupt politicians over the past two decades. The list is part of Transparency International's new Global Corruption Report 2004, which charts the flow of stolen assets, recommends ways to recover money looted by despots, and sets out new standards on political finance and favors. Transparency International says Suharto stole about $15 billion to $35 billion during his 32 years of rule in a country where the Gross Domestic Product per capita hovers at around $700.
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Indonesia's high-profile Security Minister, Susilo Bambang Yudhoyono, has offered to resign after apparently falling out with President Megawati. Mr Susilo, seen as a possible challenger for the presidency in July's election, said his relationship with Mrs Megawati had become "disrupted".
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Lagging behind with writing stories, I’m now making an effort to jump another two more days in time, but as usual, it will be hard for me to catch up writing the stories until today. I will to my best for now, but there is so much to do. Too bad I will go to Jakarta tomorrow in the afternoon, nevertheless I will most likely write a story there as well.
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TURMOIL in Indonesia is surging onto American radar screens in Washington and at the United States Pacific Command's headquarters in Hawaii, where an officer with access to comprehensive intelligence lamented what he called 'a chaotic situation'.
Particularly troubling are terrorist organisations, notably Jemaah Islamiah, despite the arrest of 130 suspects since the bombings in Bali in October last year that killed 202 people.
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Approved foreign direct investment for Indonesia rose 68.6% in the first four months of the year to EUR2.66 billion from the same period last year, Senior Economics Minister Dorodjatun Kuntjoro-jakti said Friday. However, the rise in planned foreign investment wasn't matched by local investors. The minister said approved investment proposals from local investors dropped 51.6% to 4.2 trillion rupiah (EUR1=IDR9,700) in the January-April period from the same period last year.
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Indonesia could build its first nuclear power station by 2015 to meet the energy needs of its growing population, the research and technology minister was quoted as saying on Tuesday. "We have to develop nuclear power," said M. Hatta Rajasa, state news agency Antara reported. "We have the ability to do so." Rajasa's ambitious plan comes at a time of serious security and economic problems for the the world's most populous Muslim nation.
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In August last year, U.S. intelligence agents learned that Osama bin Laden’s al Qaeda terrorist network had obtained a highly detailed, hand-drawn map of the U.S. diplomatic compound here.
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Hamzah Haz was elected the country's ninth' vice president on Thursday, bringing with him renewed hope for peace with a call for political parties to come together to support President Megawati Soekarnoputri's government. Speaking before a plenary session of the People's Consultative Assembly, Hamzah said harmonious cooperation between major political parties was needed to help the nation emerge from its prolonged crisis.
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Budi Sadikin, a clean-cut, affable young executive, is smiling broadly. And for good reason. As head of consumer banking in Indonesia for ABN AMRO Bank, the 37-year-old has watched deposits at the Dutch bank's 15 branches triple in value in just three years — to $800 million at the end of 2000. Until 1998, ABN AMRO, which has been doing business in Indonesia for 175 years, did not even have a consumer-banking unit. Now Sadikin oversees a 200-strong team whose job it is to coax more affluent Indonesians to deposit their money in a foreign bank.
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As Jakarta loses control of its domestic situation, the region confronts a slowdown in foreign investment, a rise in Muslim extremism, and the threat of chaos — or even civil war — in Southeast Asia's largest country
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Jakartans appear to have attained a certain level of nonchalance when confronted with rumors of disturbances connected with the current political tension, saying simply that they've seen it all before. In separate interviews with The Jakarta Post on Tuesday, a number of interviewees said that they had heard rumors of riots, but so far they had failed to materialize.
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Indonesia's fragile economy appears to be heading for a sharp fall this year as the ongoing political tussle in the country is undoing all the gains of last year. High-level sources told The Business Times that the government is now bracing itself for a possible Budget deficit that is between 20 trillion and 30 trillion rupiah (S$3.3 billion to S$5 billion) higher than earlier forecast.
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Struggling to hold together the world's fourth most-populous nation, Indonesian's beleaguered president said he is confident he will defeat any effort to impeach him over financial scandals. In an interview with The Associated Press, President Abdurrahman Wahid said he had lobbied individual lawmakers and was prepared to fight an impeachment measure in court, if needed.
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After eulogizing about the long road to democracy which Indonesia must travel, President Abdurrahman Wahid found out later on Friday that not all roads are open to him after students blocked streets preventing his visit to the Gadjah Mada University (UGM) campus. Not long after telling those who had attended Friday prayers that the current turmoil is part of the long road to democracy which must be traveled, Abdurrahman personally experienced the simmering political resentment against him in some corners of society.
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Bank Indonesia announced on Friday its year-end buy/sell rate of the rupiah against the U.S. dollar at Rp 9,095/10,095 as the local unit dropped to a fresh low of Rp 9,575 in offshore markets. The domestic financial markets have been closed for the year-end holidays since early this week, but Bank Indonesia announced the buy/sell rate to help the public and business sector conduct transactions.
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