Indonesia lifts trading ban on welfare minister`s companies

Jakarta (ANTARA News) - Indonesia lifted a trading ban on three firms of Welfare Minister Aburizal Bakrie Friday, an official said amid reports the government is working on a rescue for his debt-ridden Bakrie & Brothers group. [more, antaranews]

Bakrie Group Shares Down by 10 Percent

TEMPO Interactive, Jakarta: Three stocks from the Bakrie & Brothers business group lifted from trade suspension on Friday dropped by almost 10 percent at noon. [more, tempointeraktif]

Indonesia asks state businesses to buy back shares

JAKARTA, Indonesia - Indonesia's president urged state companies Thursday to buy up their own shares to quell a stampede of selling that sent the main stock index skidding more than 20 percent this week.

A trading freeze imposed on the Jakarta Stock Exchange Wednesday in response to sudden, steep loses may not be lifted until next week, said State-Owned Enterprise Minister Sofyan Jalil. [more, forbes]

INDONESIA: Astro appeals against KPPU ruling

Astro All Asia Multimedia Networks has challenged a ruling by the Indonesian anti-monopoly watchdog that the company violated the anti-monopoly law in broadcasting last season's English Premier League (EPL) in Indonesia.

The appeal was filed by the Malaysia-based holding and media company that provides and operates pay-television services, to the Central Jakarta District Court on Thursday. [more, asiamedia]

Qatar Telecom says Indosat tender offer has not been called off

LONDON (Thomson Financial) - Qatar Telecom said its tender offer for Indonesia's second-largest listed telecommunications company Indosat has not been called off and that it is awaiting government's clarification before continuing the process. [more, forbes]

Mega-rich Bakrie burned as liquidity crisis ripples into Indonesia

Jakarta (ANTARA News) - Share trading in six companies owned by Indonesia's richest man was suspended Tuesday as the effects of the global liquidity crisis rolled into Southeast Asia's biggest economy, dealers said.

The six Bakrie Group-owned companies had dropped by between a quarter and more than 40 percent as the Indonesian market took a 10 percent dive Monday after a week-long holiday at the end of the Muslim holy month. [more, antaranews]

IDX Suspends Bakrie Group Shares

TEMPO Interactive, Jakarta: The Indonesia Stock Exchange suspended on Tuesday trade on six shares of Bakrie Broters Group a day after most of the shares lost its value over the maximum one-day limit of 30 per cent. [more, tempointeractive]