New Holiday Inn Express in Bali

InterContinental Hotels Group (IHG) has opened a new, fourth Holiday Inn Express hotel in Indonesia. This is after just eight months since Holiday Inn Express was first established in Indonesia.

It is situated in trendy Kuta of the Bali Island, just 6km away from the airport. Named Holiday Inn Express Bali Raya Kuta, it accommodates 168 rooms, offering free Wi-Fi and breakfast. 24 hour fitness and a swimming pool are also available.

There are currently a total of nine Holiday Inn Express hotels throughout South East Asia, with 16 more scheduled to open in the region over the next five years. This with 11 opening in Indonesia alone.

Holiday Inn Express first launched in in the country last year, starting with the Holiday Inn Express Semarang Simpang Lima. This was then followed by the Holiday Inn Express Jakarta Thamrin and Holiday Inn Express Bali Kuta Square.

The new Holiday Inn Express Bali Raya Kuta will be joined by Holiday Inn Resort Bali Benoa during the final quarter of this year.

Industry investment opportunities from Asian Urbanisation

Industry players of a banking forum today, claimed they see massive business opportunities from Asian urbanisation. This is with a researcher having emphasised aspects including agriculture, consumer products and infrastructure.

The infrastructure sector of the region on its own calls for 2.4 trillion U.S. dollars of investments from now to as far as 2030, as claimed by a senior representative of the McKinsey Global Institute during the DBS Asian Insights Conference. The agricultural sector is also anticipated to consolidate, generating major business opportunities.

Bali's economy to grow this second quarter

Bank Indonesia for Bali and Nusa Tenggara have predicted that with this national school holiday coinciding with the fasting month, economic growth will be motivated for the second quarter of this year. This is compared to last year.

It was claimed that the diversion of foreign tourists to Bali from Thailand could expect a lift to Bali’s economy during this second quarter. He also felt that, based on surveys conducted by Bank Indonesia, consumer and business confidence would remain high in the second quarter.

Economists at Bank Indonesia also feel that Bali’s agricultural sector would positively contribute to the Island’s economy due to prevalent good weather conditions. This good weather is anticipated to positively impact Bali’s fishing sector.

Favourable conditions sustain Bali’s economy which Bank Indonesia predicts will grow at a rate of 5.2-5.8% during the second quarter of 2014.

Economic growth in Bali was at 5.43%.

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Indonesia and Taiwan setting up Special Economic Zone in North Indonesian Island

Susilo Bambang Yudhoyono, the president of Indonesia has just approved a proposal to establish a special economic zone in one of Indonesia's Northernmost islands and where a joint development project with Taiwan is occurring, in Morotai.

The representative of the Taipei Economic and Trade Office Indonesia, announced that Indonesia and Taiwan will hold a meeting next week to discuss details of the joint development project, where one or two priority sectors will be selected to start off with - possibly agriculture and tourism.

MNC Land - $3billion entertainment centre expansion

MNC Land plans to spend up to $3billion on expanding its integrated Sukabumi, West Javan integrated entertainment centre. The MNC land being the property development unit of Indonesian conglomerate MNC Investama.

Groundbreaking will begin during August, with villas, hotels, theme parks, alongside a variety of other supporting infrastructure for a recreational area.

MNC is also presently seeking a partner in developing the project, due to the magnitude of the project.

Included will be Lido Lake Resort and Golf, to cover approximately 2,000hectares and estimated to be fully completed within 20 to 30 years.

Indonesian surplus!

It has been announced in Indonesia today that its trade balance altered back to surplus during May, reporting a burst of further positive data - a boost for the top economy of South East Asia following a recent slowdown.

According to the statistics agency, the surplus was slightly higher than anticipated at $70million, following a deficit of nearly $2billion during April as exports were affected by a controversial mineral ore export ban.

The trade balance is especially closely observed by investors, with economists claiming the surplus is efficient during the high uncertainty prior to an increasingly tense presidential election next week.

Manufacturing activity also expanded, as reported by HSBC's manufacturing purchasing managers' index for Indonesia.

It rose to 52.7 during June, from 52.4 during the month before, the highest reading since the survey begun April 2011. The reading above 50 signals growth and as a reading below 50 would be contraction.