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World food crisis: Production must rise by 50%, says UN chief
2008-06-03 15:17:00
World food production must rise by 50% by 2030 to meet increasing demand, the UN secretary general, Ban Ki-moon, told the UN food summit today.He urged a quick resolution of world trade talks and said nations must minimise export restrictions and import tariffs to alleviate the food crisis."The world needs to produce more food," Ban said. "Food production needs to rise by 50% by the year 2030 to meet rising demand.""Some countries have taken action by limiting exports or by imposing price controls," added Ban. "They only distort markets and force prices even higher."Indonesia News Blog: http://indosnesos.blogspot.com
More About: World , Chief , Production , Rise

Ministers to coordinate FPI`s freezing
2008-06-03 10:02:00
Home Affairs Minister Mardiyanto said he would cooperate with Coordinating Minister for Political, Legal and Security Affairs Widodo AS in coordinating the discourse on the freezing of the Islam Defenders` Front (FPI) for its attack on a peaceful gathering at the Monas (National Monument) Square on Sunday. "The Political, Legal and Security Affairs Coordinating Ministry has the capacity to make the coordination," Mardiyanto said at the Corruption Eradication Commission (KPU) office here on Tuesday. He said the FPI`s freezing needed to be done through the coordinated efforts of several government agencies, including the Home Affairs Ministry. "Therefore, the freezing of FPI should be well-coordinated and not be done by the Home Affairs Ministry alone," he said, adding that the suspension of a mass organization had to be effected in accordance with existing laws. Mardiyanto said according to Law No.8/1985 on societal organizations, the government should give a written not...
More About: Crime , Justice , Ministers

Indonesian govt under strong pressure to act against extremists
2008-06-03 09:59:00
The Indonesian government is under strong pressure to act against Islamist extremists after fanatics threatened war against a minority sect and attacked a rally for religious tolerance.Police have failed to make a single arrest following Sunday's violence, when hundreds of stick-wielding Islamists stormed the peaceful rally in central Jakarta and severely beat dozens of people.Victims of the unprovoked attack joined with rights activists and the media on Tuesday in condemning the government for allowing a tiny minority of extremists to threaten basic rights in the world's most populous Muslim state.The US embassy also urged the government to "continue to uphold freedom of religion for all its citizens as enshrined in the Indonesian constitution"."This type of violent behaviour has serious repercussions for freedom of religion and association in Indonesia, and raises security concerns," the embassy said in a statement.A little-known extremist group affiliated to the hardline Islami...
More About: Crime , Justice , Strong , Govt

Herald Resources accepts higher $524m takeover offer
2008-06-03 03:24:00
HERALD Resources has accepted a revised $524 million offer from Indonesia's PT Aneka Tambang and China's Shenzhen Zhongjin Lingnan.The two-tier offer of $2.60 a share, which will be increased to $2.65 if more than 90 per cent of shareholders accept the bid, trumps a $2.55-a-share offer from rival bidder PT Bumi Resources.Antam and Zhongjin had previously bid $2.50 a share for the gold and base metals explorer.Earlier: Antam raises offer for Australia's Herald Resource...Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , International , Takeover

Antam raises offer for Australia's Herald Resources
2008-06-03 03:19:00
Indonesian miner PT Aneka Tambang Tbk (Antam) and its partner, China's Shenzhen Zhongjin Lingnan Nonfemet Co Ltd , have raised their offer for Australian-listed Herald Resources Ltd to $2.60-A$2.65 per share, Herald said in a statement on Tuesday.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , International , Offer

Monas square violence criminal, govt must act resolutely: Muhammadiyah chie
2008-06-03 03:09:00
Muhammadiyah Chairman Din Syamsuddin said the acts of violence that were committed during a gathering to observe Pancasila Day at the Monas (National Monument) Square on Sunday were crimes that need to be dealt with resolutely. "Those acts are clearly criminal in nature and must be addressed resolutely. The government must take concrete and firm action lest such behavior becomes a widespread habit and Indonesia turns into a violence-ridden country," Syamsuddin said. Speaking to reporters after a meeting with President Susilo Bambang Yudhoyono at the latter`s office here Monday, the leader of Indonesia`s second largest Muslim mass organization said the government must take concrete measures by enforcing the law consistently. But Syamsussin also said there was some truth in the view that the attack by Islam Defenders` Front (FPI) members on a peaceful rally conducted by the Alliance for Freedom of Religion and Belief (AKKBB) at the Monas Square on June 1 was indirectly caused by...
More About: Violence , Criminal , Govt

Indonesian doctors receive casualty training in Israel
2008-06-03 03:06:00
When Magen David Adom Chairman Dr. Noam Yifrach told Foreign Ministry officials that he had received an entry visa for Indonesia, he was told that entering the country wouldn't be the problem."They told me, 'We're sure you'll be able to go in,'" he said with a smile. "It's getting back out that we're concerned about."Indonesia, which is home to the largest Muslim population in the world, has no official ties with Israel , and contact between the two countries, while not completely unheard of, is certainly rare.But that didn't stop Yifrach and MDA coordinator to the Red Cross and Red Crescent David Abadi from traveling to the country's capital, Jakarta, last month to finalize plans for 23 Indonesian doctors to take part in a two-week-long seminar in Israel on the "management of multi-casualty incidents" - something for which the two countries sadly share a need."It's easier to order a pizza in Indonesia than an ambulance," Prof. Aryono D. Pusponegoro said to the laughter of ...
More About: Health , International , Doctors

House Speaker comdemns FPI attack
2008-06-02 12:42:00
House of Representatives (DPR) Speaker Agung Laksono said here Monday the House condemns the violence committed by Islamic Defenders Front (FPI) members against people participating in a peaceful rally to mark the birth of Pancasila at the Monas (National Monument) Square on Sunday. "The incident has clearly marred the atmosphere on the day the nation was commemorating the birth of Pancasila," Agung told the press here Monday. "The House condemns the FPI masses` immoral acts," he said. Such kind of violence must not be allowed to continue to happen in the country because it would become increasingly dangerous for the public, especially as political tensions were rising ahead of the 2009 general elections, Laksono said. "Therefore, the House calls on the police to take appropriate measures against the perpetrators of the violence and those who commanded them, and investigate what their motives were," said Laksono who is also Golkar Party vice chairman.Indonesia News Blog: h...
More About: House , Attack

Muslim sects trade threats in Indonesia
2008-06-02 12:41:00
An Islamic hard-liner in Indonesia urged his followers Monday to prepare for war against a minority Muslim sect and said he would not hand over supporters involved in a bloody attack on the group.Habib Rizhiq's remarks raised the threat of more violence in the country and set the stage for a showdown with Indonesia's secular president, who has called on police to crack down on Rizhiq's followers."We are not prepared for even one of our members to be arrested. We will resist to our last drop of blood," he said.Detective chief Lieutenant General Bambang Hendarso Danuri told reporters that officers had identified five suspects in the attack, and that "hopefully" they would be arrested later Monday.President Susilo Bambang Yudhoyono - who has been under fire for failing to speak up against the intimidation campaign by hard-liners ? criticised Sunday's attack and urged police to arrest the perpetrators."The violence had sullied our country's reputation," Yudhoyono said at a news con...
More About: Trade , Threats , Sects

Indonesia`s Lippo and Niaga banks merge
2008-06-02 09:12:00
Indonesia's Lippo and Niaga banks, majority owned by the Malaysian government, merged Monday to meet Jakarta's competition rules and create the country's fifth largest lender, a spokesman said.The banks which are majority owned by the Malaysian government's investment arm, Khazanah Nasional Bhd., announced the merger at a ceremony in Jakarta witnessed by Malaysian Deputy Prime Minister Mohammad Najib Tun Razak.The merger is in line with Indonesia's single-presence policy, which says that a party cannot own a controlling stake in more than one bank.Trading in the two banks was suspended on the Indonesian Stock Exchange on Friday ahead of the announcement.Malaysian state investment vehicle Khazanah Nasional Bhd. indirectly owns 93 percent of Lippo and has an indirect 64-percent share in Niaga via its unit Bumiputra Commerce Holdings Bhd.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , International , Indonesia , Banks

Indonesian energy minister can't rule out more fuel price increases
2008-06-02 09:09:00
Indonesia cannot rule out further increases in fuel prices before the 2009 presidential elections, Energy Minister Purnomo Yusgiantoro said on Sunday, because of the impact of fuel subsidies on the budget.The government raised fuel prices by almost 30 percent last month, sparking protests in a country where millions are already suffering from rising energy and food costs.While Indonesia still has some of the lowest fuel prices in Asia, the issue of fuel subsidies is politically sensitive given Indonesia is due to hold parliamentary and presidential elections next year."The increase is about fairness. Subsidized fuels have been enjoyed by the haves," rather than the have-nots, Yusgiantoro said on the sidelines of the Coaltrans Asia Conference on the resort island of Bali.Asked whether the government could guarantee there would be no more increases in fuel prices before the next presidential election due by mid-2009, Yusgiantoro said that was not possible."We cannot guarantee, we neve...
More About: Business , Economy , Indonesian , Fuel

President SBY denounces extremists over rally attack
2008-06-02 09:06:00
Indonesian President Susilo Bambang Yudhoyono on Monday urged authorities to take firm action against hardline Muslims who attacked a rally for religious tolerance at the weekend."I am deeply concerned with what happened yesterday afternoon. I condemn strongly the attackers that caused injury to our people," Yudhoyono told reporters."Our country is bound by the law and constitution and is not a country that supports violent acts. In regard to this incident, the law must be upheld."Earlier:Radical and moderate muslims clash in IndonesiaMUI Chairman deplores FPI`s violent actionIndonesia News Blog: http://indosnesos.blogspot.com
More About: Rally , Attack

Community Complains about Student Demos
2008-06-02 01:49:00
The community is complaining about student demonstrations which reject the fuel price increases, as they tend to end with riots and physical clashes between the students and the police force.?Whoever starts the riot, the community safety is threatened,? said 27-year-old Iksan Sidik, a resident in Pejaten, South Jakarta, yesterday.Iksan said that he was almost a victim of a fight when passing by the National University last Saturday.Street blocking by burning tires is regretted. Toto, a driver of a public transportation vehicle, said the protests have caused his income to decrease.?I support their idea but no need to block the street,? he said.Former Indonesian President Baharuddin Jusuf Habibie said student protests should be respected as part of democratic life. ?But it should be done peacefully and not against the law,? he said.Governor for the National Defense Institution, Muladi, said students should be accountable for demonstrating. He suggested students to be more critical and...
More About: Community , Student , Demos

MUI Chairman deplores FPI`s violent action
2008-06-02 01:45:00
Chairman of the Indonesian Council of Ulemas (MUI) Amidhan expressed his regret over a violent action committed by the Islamic Defenders Front against the masses of the National Alliance for Freedom of Religion and Beliefs (AKKBB) at the National Monument (Monas) Square in Jakarta."We really deplored the incident. I am really opposed to FPI`s action," he said here on Sunday.He said that MUI had called on the public to avoid provocation and violence against the misleading Ahmadiyah sect.Earlier, AKKBB carried out a peaceful activity at the national monument square. But on the sidelines of their activity, around 200 people using FPI attributes suddenly stormed to the Monas Square where the Alliance`s activists were having a peaceful activity.The FPI masses went after and beat the Alliance`s activists most of whom were women with sticks while shouting anti Ahmadiyah sect`s yells. A policeman was mandhanled by five FPI symphatizes.Earlier: Radical and moderate muslims clash in Indonesia...
More About: Action , Chairman , Violent

Tung Desem Waringin drops 100 million cash from plane
2008-06-01 14:42:00
An Indonesian businessman has scattered 100 million rupiah ($10,700; £5,406) in banknotes from a plane to promote his new motivational book.His plane flew over a sports field in Serang city, 60km (40 miles) west of Jakarta, dropping four loads of bills of small denomination.Crowds had been gathering after rumours of the stunt spread on Saturday.Mr Tung, 42, admitted his scheme was a little "crazy", but said he wanted to create "a rain of money" over Jakarta.He had been refused permission to conduct the flight over the capital amid security concerns.Earlier: Tung Desem Waringin plans to 'rain' money from airplaneIndonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , Cities , Cash , Plane

Radical and moderate muslims clash in Indonesia
2008-06-01 14:39:00
Hundreds of members of a radical Islamic group armed with batons have clashed with moderate Muslims rallying for religious tolerance in the Indonesia n capital Jakarta.About 100 members of the National Alliance for Religious and Faith Freedom gathered in central Jakarta to rally against a possible government ban on the minority Ahmadiyah sect, deemed deviant by religious authorities.About 500 members of the hardline Front for the Defenders of Islam suddenly infiltrated the protest, attacking demonstrators with batons until about 50 policemen intervened.The Ahmadiyah group, which has around 200,000 followers in Indonesia and has been in the country since the 1920s, believes Mohammad was not the final prophet, contradicting a central tenet of Islam.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Radical , Clash , Moderate

Indonesia Will Give College Students Cash to Offset Cost-of-Living Increase
2008-06-01 03:18:00
After a week of widespread protests by students against a rise in fuel prices, the Indonesian government has announced that it will give cash payments to poor university students to help offset the impact of transportation and living-cost increases.Minister Bambang Sudibyo, education minister, announced on Friday that 400,000 students, about 10 percent of the total number enrolled in the country, will receive a $54 cash payment starting next semester. The government said it wants to double the payment next year. The minister did not say how the government would determine who would receive the payment.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , Education , Living , College

Minister Numberi Inaugurates RI`s seafood trade corridor in Britain
2008-05-31 10:19:00
Indonesia`s Marine and Fisheries Minister Freddy Number on Friday inaugurated a Seafood Trade Corridor (STC) between Indonesia and Britain in Gymsby, a seaport city, a four-hour drive from London. The STC was initiated by the Indonesian and British governments to facilitate export of Indonesian fishery products to Britain and the European Union in general. Among those present at the STC inauguration ceremony were Councillor Colin Eastwell, the mayor of the borough of North East Lincolnshire, members of parliament, Grimsby Institute Director Professor Daniel Khan, Grimsby Institute Deputy Director Prof Mike Dillon and the trade attache at the Indonesian Embassy in London, Husniaty. On the occasion, Minister Numberi also witnessed the signing of cooperation agreement on "Improvement of Seafood Trade Capacity" between the Indonesian marine and fisheries ministry and the Grimsby Institute of Higher and Further Education.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , International

Graft cash found in Indonesian customs office
2008-05-31 10:16:00
Indonesian anti-corruption officers discovered thousands of dollars in bribe money at a customs and excise office in Jakarta in a midnight raid, reports said on Saturday.During the raid "more than 300 million rupiah (32,000 dollars) was found," Mohammad Jasin, deputy of the Corruption Eradication Commission, told state news agency Antara.He said the cash was in envelopes attached to import documents at the North Jakarta Tanjung Priok port customs office.Jasin said it appeared that importers had given the cash bribes to officials "so their documents could be processed without any problems".He added that the government had spent some 4.3 trillion rupiah to reform bureaucracy in the office, including systems upgrade and salary raise.Jasin said 20 customs officer were taken in for questioning after Friday's raid, including a man who attempted to hide the illegal cash.The man was "caught trying to hide money in his socks", Jasin told detik.com news website.He added that the man and anot...
More About: Office , Indonesian , Crime , Justice , Cash

Jakarta's terrorist rehab
2008-05-31 03:15:00
PROBABLY the most successful country in the world in combating radical Islamist terror is Indonesia. This is a paradoxical and peculiar reality.Many nations have been involved in prosecuting the war on terror and many have had successes of a kind. But Indonesia faces unique challenges and has produced almost unique results.Part of the key to Indonesia's success in de-radicalisation has been to approach each terrorist as an individual. It's a labour-intensive business. There are many paths to Islamist extremism. Recruitment can be intellectual, emotional, spiritual, based on kinship or on friendship. There is even the occasional lone wolf who comes to the ideology without any social help. De-radicalisation understands that the hard power of counter-terrorism must be matched by intelligent soft power. It seeks to exploit information.However, there is also some bad news. For a start, JI continues to exist. A small fringe still favours bombings. There are still at least a couple of ve...
More About: Terrorism , Rehab , Terrorist

Indonesian bribe suspect offers doughnuts at trial
2008-05-30 18:02:00
An Indonesian woman accused of bribing a prosecutor handed out boxes of doughnuts at her trial Friday, reports said.Artalyta Suryani is accused of giving a 660,000-dollar bribe to the leading prosecutor to get him to drop an investigation into a banking tycoon wanted for alleged embezzlement of billions of dollars.Reports from the gallery indicated that after judges rejected her initial defense and ordered witnesses to be called, Suryani tried to show her sweet side.Local news websites Detikcom and inilah.com reported that the businesswoman offered boxes of doughnuts and mineral water to everyone in the courtroom.It is not the first time she has presented gifts to the court. At an earlier hearing she handed out imported chocolates and roses.Suryani is charged with bribing prosecutor Urip Tri Gunawan who was arrested with 660,000 dollars in cash as he left the home of banker Syamsul Nursalim, one of Indonesia's richest men, in early March.Indonesia News Blog: http://indosnesos.blogs...
More About: Crime , Justice , Trial , Offers

Indonesian capital prepares for extreme tidal waves
2008-05-30 13:24:00
The Indonesian capital Jakarta is in a state of alert anticipating a high tide that will likely hit the city next week, causing floods in parts of the city, officials said on Friday."We are aware of the situation and have built up higher retaining walls and put sand bags in areas that will likely be hit by the tidal wave," said Wisnu Subagio head of Jakarta's office of public works.He said that most likely north Jakarta and the highway to the airport would be affected. Last year November waters reached roof-high levels in the hardest-hit areas.Earlier: World Bank warns flood may hit JakartaIndonesia News Blog: http://indosnesos.blogspot.com
More About: Tragedy , Extreme , Disaster , Cities

Indonesia's First Lady awarded UN environment award
2008-05-30 13:23:00
First Lady Kristiani Herrawati Bambang Yudhoyono was awarded a United Nations Environment Program (UNEP) award for her efforts in encouraging Indonesian women to plant 1 million trees simultaneously across the country. "The UNEP award for the First Lady was handed over to me as environment minister and I will pass it on to her at the World Environment Day commemoration on June 5," Environment Minister Rachmat Witoelar said Friday. Witoelar said the UNEP award was awarded as a token of appreciation for Kristiani's success in mobilizing Indonesian women to plant 1 million trees across the country. The initiative to get the Indonesian women's movement to simultaneously plant a million trees on December 1, 2007 was deemed by UNEP as a significant environmental achievement. "The movement was highly appreciated by UNEP," Witoelar said, adding that Forestry Minister MS Kaban had also been recognized for his 79 million tree-planting program. Indonesia News Blog: http://indosnesos.blo...
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Indonesia's oil production might exceed one mln barrel a day in 2010
2008-05-30 13:20:00
Oil production in Indonesia may exceed one million barrel a day in 2010 when the production in Cepu oil field in Java Island reaches 200,000 barrel per day, Vice President Jusuf Kalla said Friday. Currently, Indonesia's oil production is 927,000 barrel per day. "We expect Cepu oil field to begin production this year. From 2010 and 2011 it will reach maximum production capacity from 180,000 to 200,000 barrels per day," Kalla told a press briefing. The oil field is located on the borders of East Java province and Central Java province, and it is jointly developed by Indonesia's state oil and gas company Pertamina and U.S.-based giant oil company ExxonMobil. Kalla said that there are some other oil fields which will start production in the years. These oil fields are located in Sumatra, Sulawesi and Kalimantan Islands.Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , Energy , Production , Barrel

Tung Desem Waringin plans to 'rain' money from airplane
2008-05-30 12:45:00
If you're short of cash and don't mind running in tropical humidity and smog for a few bucks, read on. An Indonesian businessman plans to throw 100 million rupiah (S$14,485) out of an airplane over the capital this Sunday as a publicity stunt to promote his new book. 'I want to create a rain of money in Jakarta,' author and motivational speaker Tung Desem Waringin said. 'It's a little bit crazy, but it's marketing.' Police spokesman Colonel I Ketut Untung said authorities may not allow the plan to go forward because it could draw huge crowds and cause chaos. Tens of millions of Indonesians live on less than US$1 a day and food and aid giveaways always draw large numbers. Indonesia News Blog: http://indosnesos.blogspot.com
More About: Business , Economy , Money , Cities , Rain

Think Thank: Inflation is Asia`s biggest concern
2008-05-30 08:47:00
Soaring energy and food prices will help push the Asia Pacific inflation rate to a forecast 3.6 percent this year from 2.7 percent last year, a regional think-tank said Friday.At the same time, growth is tipped to slow to 3.7 percent from 4.9 percent in 2007, the Pacific Economic Cooperation Council (PECC) said.It said inflation is the biggest worry for the region at a time of slowing growth in the United States, the world's largest economy and a major market for the region's export-reliant economies."While the slowdown in growth weighs heavily on policymakers' minds, it is the spectre of inflation that is causing the biggest headaches," PECC was quoted by AFP as saying in its latest outlook for the region."Combined together, there is very little room for monetary stimuli," it said in the forecast for 16 Asia Pacific economies including the United States, Japan and China.Consumers are paying more for food and petrol throughout the region.The pain is particularly acute in Indonesi...
More About: Business , Economy , Inflation

Garuda finally awarded IATA safety clearance
2008-05-29 12:24:00
Flag carrier Garuda Indonesia has finally received safety clearance following a stringent audit conducted by the International Air Transport Association (IATA), president director Emir Syah Satar said Thursday. "The IATA Operational Safety Audit (IOSA) for Garuda was approved on May 14 and will be presented during the IATA annual general meeting in Istanbul on June 1-3," said Emir. "We expect the European Union to refer to the audit result during their session on flight ban in July." The EU has banned all Indonesian airlines from entering the bloc's airspace even though none of the airlines actually serve European routes. The government has proposed four airlines to be exempted from the flight ban. In addition to Garuda, the airlines are Mandala Airlines, which has committed to buying a large number of European Airbus jetliners, and chartered airlines Airfast and Premiair. Indonesia News Blog: http://indosnesos.blogspot.com
More About: Travel , Transportation

World Bank warns flood may hit Jakarta
2008-05-29 12:21:00
The World Bank warned Thursday that an exceptionally high tide could inundate the Indonesian capital next week, forcing thousands of people to flee homes and cutting off the highway to the international airport.The situation - exasperated by global warming and the fact that Jakarta is sinking up to 2 inches a year - could mean flooding will exceed last November's roof-high levels in the hardest-hit areas, said Hongjoo Hahm, the bank's infrastructure expert."This is just the beginning," he said, as he pointed to homes reaching a mile inland that will likely be affected Tuesday and Wednesday by the 18-year semiannual tide cycle. "It's getting worse and worse."Indonesia, a sprawling archipelago nation, is one of the world's largest contributors of carbon dioxide emissions, thanks to the rapid pace of deforestation. But experts say the country is also at risk of becoming one of the biggest victims of climate change.Rising sea waters especially pose a threat to coastal cities like Ja...
More About: Environment , Tragedy , World Bank

Indonesia to save US$2 million when it quits OPEC
2008-05-29 12:19:00
Indonesia will save US$2 million annually if it quits the Organization of Petroleum Exporting Countries (OPEC), a minister says. "The OPEC membership fee is very high," said Paskah Suzeta, the State Minister for National Development Planning and the National Development Planning Board (Bappenas) head, on Thursday. Given Indonesia's current status as a net oil importer, the government would rather concentrate on increasing national oil production to meet domestic demand instead of participating in efforts to influence world oil prices, he said. "We should concentrate on domestic demand for oil." Energy and Mineral Resources Minister Purnomo Yusgiantoro recently said Indonesia was likely to quit OPEC after 2008. The initiative to quit the oil cartel, an idea that has also been endorsed by the House of Representatives, surfaced at a limited cabinet meeting at the presidential office. Indonesia News Blog: http://indosnesos.blogspot.com
More About: International , Indonesia , Save , Million

Indonesia's Stock Index May Rise 15%, Firmansyah Says
2008-05-29 08:55:00
Indonesia's benchmark stock index may rebound from the worst year since 2000 after the government cut fuel subsidies to spend more on projects that will boost the economy, the stock exchange's chief said.The 375-stock Jakarta Composite Index may rise as much as 15 percent this year, Indonesia Stock Exchange President Director Erry Firmansyah said in a May 27 interview. The index, which climbed the past six years, is down 11 percent in 2008. It advanced 0.4 percent to 2,444.3 at 10:25 a.m. local time.PT Telekomunikasi Indonesia, the nation's largest company by market value, and PT Astra International, the biggest car dealer, dragged the index lower as the government cut its economic growth forecast and inflation accelerated. This month's decision to trim subsidies that made up 14 percent of the budget will free funds for bridges and roads, Firmansyah said.``Money that previously was for subsidizing fuel can now be spent on infrastructure,'' said Firmansyah, 52, who has been pre...
More About: Business , Economy , Rise