Inalum to be worth $1.2b in 2013, state treasury says

The Jakarta Post, Jakarta | Fri, 12/17/2010 7:41 PM | Business

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The government said Friday that the book value of state aluminum producer PT Inalum would be US$1.2 billion in 2013.

Arif Baharuddin, the director general for state assets, said the government would take over the company for a price based on the company's book value and would not extend the contract with Japan.

“We predict that the book value of company will be $1.2 billion in 2013. The exact figure still needs a due diligence,” he said.

Inalum was established under an agreement with the Japanese government in 1976. The agreement expires in 2013.

The Indonesian government has a 41.1 percent stake in the company and the Japanese consortium holds 58.9 percent.

The company produces 250,000 tons of aluminum per year, 60 percent of which is exported to Japan.

Google, Apple shares rise after judge tosses suit

The Associated Press, New York | Mon, 12/13/2010 9:51 PM | Business

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Shares of Google and Apple edged higher in pre-market trading after a federal court judge dismissed a patent lawsuit against the tech giants brought by Microsoft Corp. co-founder Paul Allen.

U.S. District Court Judge Marsha Pechman in Seattle threw out Allen's patent infringement claims Friday. Pechman said Allen wasn't specific enough in identifying which products had violated his intellectual property rights.

Google Inc. shares rose $5.78, or 1 percent, to $597.99 ahead of regular trading Monday, while Apple Inc. climbed $4.83, or 1.5 percet, to $325.39.

Others targeted in the suit include Facebook Inc., eBay Inc., Yahoo Inc., Netflix Inc., AOL Inc., Office Depot Inc., OfficeMax Inc., Staples Inc. and Google-owned YouTube LLC.

Yogya governor to be elected by local council : Minister

The Jakarta Post, Jakarta | Mon, 12/13/2010 8:44 PM | Headlines

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Home Affairs Minister Gamawan Fauzi says the central government proposes in its draft bill on the special status of Yogyakarta that the province’s legislative council would elect the governor.

“The election would be through the DPRD [the regional legislative council], not a direct election as in other gubernatorial elections,” he said Monday in Jakarta.

The appointment of Yogyakarta’s governor turned into a hot issue after the government decided to hold a democratic election to choose the governor, a position traditionally awarded to the Sultan.

If the Sultan were the only gubernatorial candidate, the council could appoint him directly, Gamawan added.

“This is simply shifting the authority from the central government in Jakarta to the region,” he said.

The government would suggest this method of election to the House of Representatives for further deliberation, he added. (gzl)

Mayor raises half-mast flag to protest Yogyakarta status bill

The Jakarta Post, Jakarta | Sun, 12/12/2010 7:27 PM | Headlines

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Yogyakarta mayor Herry Zudianto raised a half-mast flag on Sunday to protest a bill that insists on a gubernatorial direct election instead of an appointment of Yogyakarta sultan as governor.

 Kompas.com reported that Herry committed his action in front of his home and read a poem about the Indonesian Red and White flag.

“65 years the Red and White has been raised in the land of Indonesia, 65 years the spirit of Red and White embeds in the heart of Indonesians,” he said.

“The special status of Yogyakarta is part of the Red and White flag-raising history. Don’t hurt the Red and White.”

He called on all parties not to politicize the Yogyakarta special status.