Economic & Business

Aceh province`s Sabang international seaport which is now under construction is scheduled to commence operations in 2012, the port`s administrator said.

Agriculture Minister Suswono said that Indonesia would import cows that weighed not more than 350 kg each so that they could be raised in the country first before being slaughtered.

Visiting Indonesian Agriculture Minister Suswono said here on Friday the government would review domestic fertilizer prices in April next year.

Indonesian Vice President Boediono and his entourage on Thursday visited a small-scale ceramics industry at Dereto, about a one-hour`s drive from Rome.

The Jakarta administration is upbeat over its target to earn Rp1.6 trillion from tourism through its "Jakarta Tourism Expo 2009" in a number of regions, including Surabaya, a tourism official said.

Indonesia`s rice production is predicted to reach 64 million tons this year surpassing the forecast of the National Bureau of Statistics of 63.68 million tons, an agriculture ministry official said.

Although demand has begun to decline ahead of the winter season, the crude palm oil (CPO) price in Europe is continuing to strengthen and has almost reached US$750 per ton, an industry executive said.

The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) here on Thursday morning got off to a strong start as investors hunted small-cap shares.

The rupiah continued to weaken against the US dollar in the Jakarta interbank spot market here on Thursday on profit taking moves.

State-owned electricity company PLN will fine contractors delaying the completion of their projects under the 10,000 megawatt (MW) power plant projects, a PLN director said.