Egypt clears Indonesia of tire dumpingallegations
2008-03-17 13:47:33Xinhua, After an 18-month-long investigation,Egypt announced it would drop a 40 percent anti-dumping tax applied to Indonesian tire productsand said dumping allegations were cleared, local press said Monday.Before the allegations and consequent inquiry,Indonesia had controlled some 40 percent of Egypt's tire market but was accused of floodingthe country with low cost products.
Indonesia airline loses half its fleet afterdefault
Mar 17, 2008 5:24am EDTReuters, Indonesian budget carrier Adam Air,which has been warned about its safety standards,said on Monday that a leasing firm seized morethan half its fleet after the airline defaulted on its payments.Adam Air, which like all other Indonesian airlineshas been banned by the European Union becauseof safety concerns, was forced to cut back severalscheduled flights on Monday because it did nothave enough aircraft, causing delays for some passengers.
Indonesia Bakrie's gets nod for $4.3 bln rightsissue
Mar 17, 2008 10:04am GMTReuters, Shareholders of Indonesia's PT Bakrie &Brothers Tbk BNBR.JK have approved a plan toissue 40.1 trillion rupiah ($4.32 billion) in newshares, an official said on Monday, in the biggestever rights issue in the country.The diversified firm plans to use the money toacquire a 35 percent stake in PT Bumi ResourcesTbk BUMI.JK, Indonesia's largest coal producer,a 40 percent stake in oil and gas explorer PTEnergi Mega Persada Tbk ENRG.JK, and a 40 percent stake in property developer PT BakrielandDevelopment Tbk ELTY.JK.
Indonesia introduces cheap fuel product
2008-03-17 16:27:27Xinhua, Indonesia's state-run oil and gas firmPertamina on Monday introduced fuel productsmade of liquefied petroleum gas (LPG) whichsells at a mere 3,600 rupiah (about 39 U.S. cents) per liter.Called as Vigas, the fuel product is available atthree Pertamina fuel outlets in Jakarta and thenumber will be increased to nine by the end of theyear, said Pertamina deputy marketing director Hanung Budya.
Indonesia threatens to close Adam Air in 3weeks; airline has defaulted on debt payments
March 17, 2008The Associated Press, Indonesia threatenedMonday to close low-cost carrier Adam Air after two of its largest shareholders announced plans to pull out of the beleaguered company.The airline has defaulted on debt payments toairplane leasing companies, which has forced thecompany to ground 12 of its 22 planes, said AdamSuherman, whose family together with SandraAng owns a 50 percent stake.
Indonesia to limit tin output
17 March 2008 10:55:41Commodityonline, Indonesia, the world's largesttin exporter, will cap annual tin output at 90,000metric tons from this year to slow the depletion of the country's metal reserves, a government reportshowed over the weekend.The regulation on the production cap will beissued in the form of a ministerial decree," saidMangantar Marpaung, director of mineral andgeothermal resources at the Ministry of Energyand Mineral Resources. He added that 10,000tons of the output will be sold in the domesticmarket. Indonesia produced 80,000 tons of tin lastyear, he said.
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