By Cameron Allan McKean 26 July, 2010

• All-new BMW X1 sDrive20d and BMW X1 sDrive18i, the world’s first compact Sports Activity Vehicles, introduced to young urban Indonesians.

Jakarta. The all-new BMW X1 sDrive 20d has been unveiled in Jakarta, marking the official introduction of BMW Advanced Diesel Technology in Indonesia to meet the needs of environmentally-conscious young urbanites.

The President Director of BMW Indonesia, Mr. Ramesh Divyanathan, and an expert from BMW Diesel Engine Development Center, Dr. Ing. Erwin Kranawetter, officiated at the launching this morning.

“The era of old diesel has ended in Indonesia.  Today marks the new era of modern premium diesel.  BMW is setting a new trend on clean diesel in Indonesia.  Driving BMW diesel is fun, smooth, clean and cool,” said Mr. Ramesh Divyanathan.

Every BMW diesel engine delivers superb fuel efficiency, low CO₂ emissions, generous torque at low engine speeds and the typical BMW characteristics of superior smoothness and refined engine acoustics.
“This is the beginning of a paradigm shift,” Mr. Divyanathan said.  “We have chosen to introduce diesel engine on our all-new BMW X1 because the young urban Indonesians who are the target segment of this model are those with a stronger drive and the influence to change.” He added that half of the 150 pre-booked units of the all-new BMW X1 are the diesel model.

Earlier, in a technical workshop attended by delegates from the State Ministry of Environment, Indonesia’s Agency for Assessment and Application of Technology (BPPT), various energy supply companies, BMW dealers and the media, Dr. Kranawetter presented BMW Group’s sustainability strategy.

BMW Group aims to bring BMW EfficientDynamics technology, including the BMW Advanced Diesel engine, to all of its models.  The benefits to the environment are much more substantial than developing a green car model.  With BMW EfficientDynamics, the BMW Group has been able to cut its European fleet emissions by 25% in 2008 compared to 1995 levels.  In acknowledgement of its commitment to a sustainable environment, for the fifth consecutive year BMW has been rated the world’s most sustainable automobile manufacturer in the Dow Jones Sustainability Index.

Mr. Klaus Landhaeusser, Diesel System Manager External Affairs ASEAN from BOSCH, the company which developed the diesel common rail injection system, discussed the advantage of diesel engines compared to gas and hybrid engines during the workshop. The diesel engine is proven to be more economical by reducing 30% of fuel consumption, cleaner by reducing 25% of emissions and more powerful by having 50% more torque compared to petrol engine, he said.
The smooth-running 1.995 liter four-cylinder diesel engine in the BMW X1sDrive20d uses the latest-generation Common Rail Injection system and a turbocharger.  The engine delivers a perfect combination of dynamic performance and exceptional efficiency.
Capable of producing 177 hp at 4,000 rpm, the engine offers maximum torque of 350 Nm from 1,750 to 3,000 rpm.  The extraordinary drive system accelerates from 0 to 100 km/h in 8.3 seconds, top speed stands at 205 km/hour and average consumption is an efficient 6.1 l/100 km and CO₂ level at 160 g/km.  The engine meets EU3 standards, and therefore Pertamina DEX, Dynamic Diesel from Petronas, Shell Diesel and Performance from Total fulfill the fuel quality requirement.  This ensures that customers will have full mobility throughout Indonesia.

BMW Indonesia is also introducing the new BMW X1 sDrive18i petrol model to the market.  The model is powered by a 150 hp 1,995 cc four-cylinder gasoline engine featuring Valvetronic and Double Vanos.  Producing maximum torque of 200 Nm at 3,600 rpm, it accelerates from 0 to 100 km/h in 10.4 seconds.  Its top speed reaches 200 km/hour with an average fuel consumption of 8.4 l/100 km and CO₂ level at 195 g/km.

The all-new BMW X1 has been awarded the 2010 red dot award for outstanding design and achieved the highest score of 5 stars in the stringent EURO NCAP crash test.  This premium compact SAV is much anticipated by young urban Indonesians, as the car is in keeping with their character as well as road conditions in the market.

The all-new BMW X1 comes with all features typical of a BMW X model, while offering a new interpretation of BMW Sheer Driving Pleasure.  The youngest member in the wider range of BMW X models stands for versatile sportiness and supreme agility in a confident, elegant and modern style.  Young and sporty in design, the interior combines superior variability with equally superior flexibility.  The higher seating-position and driver-oriented design of the cockpit succeed in enhancing the emotional driving experience.

The model is fitted with six-speed automatic transmission and safety features such as airbags for driver and passengers, head and side airbags, Dynamic Stability Control and Run Flat Tyres.  The entertainment system features the Radio BMW Professional with CD, equipped with USB interface and AUX-IN connection.

The all-new BMW X1 sets new standards for driving pleasure in the premium compact segment.  BMW is the pioneer in introducing the premium Sport Activity Vehicle X5 in 2001, and now the family extends to the compact segment where there remains no competitor.

(Click the Spec. Table to see the detail on PDF. format)

# # #

The BMW Group

The BMW Group is the world’s leading premium car manufacturer since 2005 with its BMW, MINI and Rolls-Royce brands. As a global company, the BMW Group operates 24 production facilities in 13 countries and has a global sales network in more than 140 countries.

The BMW Group achieved a global sales volume of approximately 1.29 million automobiles and over 87,000 motorcycles for the 2009 financial year. The pre-tax profit for 2009 was euro 413 million, revenues totalled euro 50.68 billion. At 31 December 2009, the company employed a global workforce of approximately 96,000 associates.

The success of the BMW Group has always been built on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy. As a result of its efforts, the BMW Group has been ranked industry leader in the Dow Jones Sustainability Indexes for the last five years.

BMW in Indonesia

PT. BMW Indonesia is a wholly-owned subsidiary of Munich-based Bayerische Motoren Werke (BMW) AG in Germany. The establishment of this subsidiary in April 2001 reflects the BMW Group’s confidence in the long-term future of Indonesia and its commitment to maintaining and extending BMW’s leading position in the premium market segment. PT. BMW Indonesia’s activities cover the wholesale of BMW cars, spare parts and accessories, as well as the overall planning of sales, marketing, after-sales, and related activities in Indonesia. Its dealership network covers 11 new car dealers and 1 used-car dealer spread out in various cities in Indonesia. Selected models of the 3 and 5 Series sedans are also assembled in Indonesia by a local partner. More information about BMW Indonesia may be found online at www.bmw.co.id.

For further information please contact:

Helena Abidin

Corporate Communications Director

Tel: +62 -21- 2992 3003

Mobile: +62-816-968 450

Email: maria.h.abidin@bmw.co.id

Roberto Sumabrata
Corporate Communications
Tel : +62-21-2992 3009 ext 21724
Mobile : +62-818-306 307
Email : roberto.sumabrata@partner.bmw.co.id

Thu, 07/29/2010 9:40 AM

Developers are moving southward to construct new office buildings in the capital city in a search for cheaper land prices and a specific image, say property consultants at PT Procon Indah.

The company’s data shows that as of the second quarter of 2010, South Jakarta had almost 20 percent of all high-rise offices in the capital city, based on a total supply of 138,900 square meters (sqm) and a cumulative demand of 103,500 sqm.

Over the past five years, the demand for office space in South Jakarta has grown 29 percent, while demand in other parts of Jakarta has increased by 15 percent.

South Jakarta added 64,000 sqm of new office space in the second quarter, while other areas of Jakarta recorded no new development in the same period.

Procon Indah’s research and consulting head Utami Prastiana said Wednesday that the shift in office building development to South Jakarta was motivated by high demand in the area, which encouraged property owners to develop office buildings to accommodate the demand.

She said that several factors, such as location image, accessibility, land availability and price affordability, led to more vibrant growth in the South Jakarta office space market than in other areas of the city.

“South Jakarta has a prime neighborhood image. It is surrounded by established prime residential and commercial developments,” she told reporters at a press conference at the company’s office at the Indonesia Stock Exchange Building in Jakarta.
“South Jakarta has a prime neighborhood image. It is surrounded by established prime residential and commercial developments”

The operation of Jakarta’s outer ring road provides easier access to the South Jakarta district for people from other parts of the city, she added.

The affordable price of office spaces in the area, as compared to space in Jakarta’s central business district (CBD), was also among the reasons why the strata title office market in South Jakarta had been growing more active, she said.

Procon Indah chief executive officer Lucy Rumantir said that domestic companies operating in non-financial sectors dominated office space in South Jakarta. Financial institutions preferred to have offices in the CBD because it was near the Indonesian Stock Exchange and major banks, she added.

She said that as many as 90 percent of companies in South Jakarta preferred to buy office spaces instead of renting.

“It is more economical for them to buy space than to pay monthly or yearly rental fees,” she said.

The price of office space in South Jakarta is US$1,500-$1,700 per sqm, while the monthly rental fee is between $10 and $13 per sqm.

Lucy said that companies chose to have offices in South Jakarta because most of their employees lived in nearby municipalities such as  Cibubur, East Jakarta; Cirendeu, Tangerang and Pamulang, South Tangerang.

South Jakarta currently has five existing strata title office buildings: Victoria Building, Graha Simatupang, MTH Tower, Belleza Office Tower and Gandaria 8. Two buildings — Sovereign Tower and Alamanda Tower — are now under construction. (rdf)

Developers are moving southward to construct new office buildings in the capital city in a search for cheaper land prices and a specific image, say property consultants at PT Procon Indah.

The company’s data shows that as of the second quarter of 2010, South Jakarta had almost 20 percent of all high-rise offices in the capital city, based on a total supply of 138,900 square meters (sqm) and a cumulative demand of 103,500 sqm.

Over the past five years, the demand for office space in South Jakarta has grown 29 percent, while demand in other parts of Jakarta has increased by 15 percent.

South Jakarta added 64,000 sqm of new office space in the second quarter, while other areas of Jakarta recorded no new development in the same period.

Procon Indah’s research and consulting head Utami Prastiana said Wednesday that the shift in office building development to South Jakarta was motivated by high demand in the area, which encouraged property owners to develop office buildings to accommodate the demand.

She said that several factors, such as location image, accessibility, land availability and price affordability, led to more vibrant growth in the South Jakarta office space market than in other areas of the city.

“South Jakarta has a prime neighborhood image. It is surrounded by established prime residential and commercial developments,” she told reporters at a press conference at the company’s office at the Indonesia Stock Exchange Building in Jakarta.
“South Jakarta has a prime neighborhood image. It is surrounded by established prime residential and commercial developments”

The operation of Jakarta’s outer ring road provides easier access to the South Jakarta district for people from other parts of the city, she added.

The affordable price of office spaces in the area, as compared to space in Jakarta’s central business district (CBD), was also among the reasons why the strata title office market in South Jakarta had been growing more active, she said.

Procon Indah chief executive officer Lucy Rumantir said that domestic companies operating in non-financial sectors dominated office space in South Jakarta. Financial institutions preferred to have offices in the CBD because it was near the Indonesian Stock Exchange and major banks, she added.

She said that as many as 90 percent of companies in South Jakarta preferred to buy office spaces instead of renting.

“It is more economical for them to buy space than to pay monthly or yearly rental fees,” she said.

The price of office space in South Jakarta is US$1,500-$1,700 per sqm, while the monthly rental fee is between $10 and $13 per sqm.

Lucy said that companies chose to have offices in South Jakarta because most of their employees lived in nearby municipalities such as  Cibubur, East Jakarta; Cirendeu, Tangerang and Pamulang, South Tangerang.

South Jakarta currently has five existing strata title office buildings: Victoria Building, Graha Simatupang, MTH Tower, Belleza Office Tower and Gandaria 8. Two buildings — Sovereign Tower and Alamanda Tower — are now under construction. (rdf)

Developers are moving southward to construct new office buildings in the capital city in a search for cheaper land prices and a specific image, say property consultants at PT Procon Indah.

The company’s data shows that as of the second quarter of 2010, South Jakarta had almost 20 percent of all high-rise offices in the capital city, based on a total supply of 138,900 square meters (sqm) and a cumulative demand of 103,500 sqm.

Over the past five years, the demand for office space in South Jakarta has grown 29 percent, while demand in other parts of Jakarta has increased by 15 percent.

South Jakarta added 64,000 sqm of new office space in the second quarter, while other areas of Jakarta recorded no new development in the same period.

Procon Indah’s research and consulting head Utami Prastiana said Wednesday that the shift in office building development to South Jakarta was motivated by high demand in the area, which encouraged property owners to develop office buildings to accommodate the demand.

She said that several factors, such as location image, accessibility, land availability and price affordability, led to more vibrant growth in the South Jakarta office space market than in other areas of the city.

“South Jakarta has a prime neighborhood image. It is surrounded by established prime residential and commercial developments,” she told reporters at a press conference at the company’s office at the Indonesia Stock Exchange Building in Jakarta.
“South Jakarta has a prime neighborhood image. It is surrounded by established prime residential and commercial developments”

The operation of Jakarta’s outer ring road provides easier access to the South Jakarta district for people from other parts of the city, she added.

The affordable price of office spaces in the area, as compared to space in Jakarta’s central business district (CBD), was also among the reasons why the strata title office market in South Jakarta had been growing more active, she said.

Procon Indah chief executive officer Lucy Rumantir said that domestic companies operating in non-financial sectors dominated office space in South Jakarta. Financial institutions preferred to have offices in the CBD because it was near the Indonesian Stock Exchange and major banks, she added.

She said that as many as 90 percent of companies in South Jakarta preferred to buy office spaces instead of renting.

“It is more economical for them to buy space than to pay monthly or yearly rental fees,” she said.

The price of office space in South Jakarta is US$1,500-$1,700 per sqm, while the monthly rental fee is between $10 and $13 per sqm.

Lucy said that companies chose to have offices in South Jakarta because most of their employees lived in nearby municipalities such as  Cibubur, East Jakarta; Cirendeu, Tangerang and Pamulang, South Tangerang.

South Jakarta currently has five existing strata title office buildings: Victoria Building, Graha Simatupang, MTH Tower, Belleza Office Tower and Gandaria 8. Two buildings — Sovereign Tower and Alamanda Tower — are now under construction. (rdf)

Source: The Jakarta Post

Jakarta, July 30, 2010

Vashti Trisawati Abhidana

In “The Sorcerer Apprentice”, it needs a thousand years to find the best wizard apprentice and it’s Balthazar Blake’s (Nicolas Cage) missions to find the right one. Whoever wears the dragon ring, fits perfectly in his/her finger and the important part is the dragon sculpting “feels” comfortable on it, than voila… he or she will be the next powerful sorcerer, named the Prime Merlinean. Actually Balthazar Blake is one of Merlin’s disciples. Together with Victoria (Monica Bellucci) and Maxim Hovarth (Alfred Molina) they are the trio wizard masters. However Hovarth chooses to cross into the dark side and together with his new witch master, Morgana, kills Merlin.

Before Merlin passed away, he handed the dragon ring to Balthazar and said that only the Prime Merlinean can defeat Morgana. Nevertheless the battle continues and Veronica gives her body and soul to tie Morgana and trap this evil witch into a similar ‘babushka’ Russian nesting wooden doll. This doll is getting bigger every time when Balthazar defeats evil sorcerers, including Maxim Hovarth.

This linear story about good and evil wizards is easy to digest. “It’s a story about two quests,” explains Bruckheimer. “Balthazar has been searching the world through the centuries for his apprentice, and Dave then has to discover his true potential as a human being,” he added. Various visual effects and CGI are entertaining and well made. There’s no differences between Nicolas Cage as Balthazar in this movie or as Ben Gates in “National Treasure”. This is his seventh time collaboration with Jerry Bruckheimer as the producer. Only his appearance make the difference:  the hobo-grungy looking who owns a curio shop, with tons of curses creepy treasures. However through this antique shop, Balthazar meets Dave Stutler (Jay Baruchel), a fourth grade boy, who tries to catch his love note from Becky Barnes (Teresa Palmer) during his field trip with his schoolmates. After a brief chat, Baltahazar offers the dragon ring to him.

This ordinary fourth grade dorky boy, stuns when the dragon ring fits and stays put in his finger. Balthazar is so relieve to have ‘the one’ who will defeat Morgana. In the middle of persuading Dave to be his apprentice, the wooden doll is unexpectedly broken then Maxim Hovarth appears. Balthazar and Hovarth try to cream and struggle each other to catch the babushka doll. Hovarth wants to release Morgana and demolish the world; on the other hand Balthazar wants to protect it from his wicked friend.

Ten years later, Dave is still the unpopular, nerdy, and absentminded guy. He creates his own world by inventing music-lightning machine in the underground subway wreckage. Jay Baruchel’s role as Dave Stutler reminds me when he was the guest star in one “Numbers” TV series. He played as the whiz kid who could predict the best batter and player of baseball games based on his formula.

Unconditionally when he teaches physics in the classroom, he meets Becky Barnes again. Besides as a student at New York University, Becky is also works as a DJ in her campus radio station. Afterward we can see Dave’s journey between impressing Becky through his inventor and learn the fast way to be the Prime Merlinean.

This movie is a modern Harry Potter sorcerer type and John Turteltaub, the director, portrays Hovarth wickedness without being scary at all.  This evil sorcerer rides an ultra modern car and wears flamboyant wardrobes, and matches with his apprentice, Drake Stone (Tobby Kebbel), a modern punk-devilish opportunistic illusionist who leaves in his tacky-gold apartment. As we understand Disney’s approach is always entertaining without any violent and sadistic visual graphic.

Probably the interesting part is that all kind of magic in a modern world will always related with physics, which we wouldn’t see in Harry Potter. The verdict? If you just want to ease your head, and don’t want to think heavily, “The Sorcerer Apprentice” definitely will entertain you. At least you won’t get irritated after you leave the cinema.

The market leading e-reader gets refreshed with a Wi-Fi only option and a zippier screen.

Amazon today introduced a new version of the Kindle eReader — Kindle 3 — that shows it’s not backing down from selling dedicated electronic reading devices.

The new Kindle, code-named Shasta, doesn’t have a color display or a touch screen, both long-rumored to be in the works, but it is smaller and lighter, and has a longer battery life than the previous model.  Since these are the Kindle’s key advantages versus Apple’s (AAPL) iPad, the improvements further distinguish the two rival devices.

The new Kindle’s six-inch screen is the same size as the previous version, but the body is 21% smaller, making it small enough to slip into the pocket of a suit jacket. It’s also 15% lighter, weighing in at just 8.7 ounces compared the hefty 1.5 pounds of the iPad Wi-Fi model. That’s crucial considering that users often hold their eReaders with one hand while riding the subway or lying in bed.

The battery life of the new Kindle is also improved, lasting up to one month with the wireless turned off or 10 days with it turned on, reducing the hassle of frequent charging required by devices like the iPad.  And with storage expanded to hold 3,500 books, most users can carry their entire library with them.

The screen contrast on the electronic ink display has also been improved, while the 20% faster page turning should silence any remaining critics who complain about lag times.

Take your Wi-Fi with or without 3G

The next generation Kindle still offers free unlimited wireless 3G service (plus built in Wi-Fi), unlike the data plans for the iPad 3G, which run $15 or $25 per month, with a ceiling on how much you can download. (The iPad, of course, can access a far wider array of data-intensive content.)

Amazon (AMZN) has also held the price for the new Kindle at $189. Since this new price was announced in June for the existing model, down from $259, the growth rate of sales of the device have tripled, says Amazon. (The iPad starts at $499.)

Amazon is also introducing a Wi-Fi only version of the Kindle for $139 and offering free access at AT&T (T) hotspots in the U.S. Both new models will begin shipping August 27.

Forrester estimates that the Kindle comprised two-thirds of the 3.7 million eReaders in the U.S. market at the start of this year. That’s not likely to change soon: Of the nearly 20% of US adults surveyed online who are considering buying an eReader, 69% are leaning towards the Kindle, though the report notes that figure will surely be eroded by tablets like the smash-hit iPad.

While the iPad and its ilk may pose a threat to eReaders, there’s still plenty of market to share. Forrester predicts 29.4 million US consumers will own eReaders by 2015.

Sales of Kindle books, meanwhile, have surpassed those of hardcover books: Amazon announced last week that it sells 180 Kindle books for every 100 hardcovers. Skeptics point out that hardcovers account for only 23% of physical books sold, according to Nielsen, with paperbacks making up the majority.

But consider this: Kindle owners buy more than three times as many digital books as the number of physical books they bought before owning the device. And Amazon’s 630,000 books available at the Kindle store certainly tips the scales for serious readers contemplating the iPad’s 60,000 titles.

(Yesterday Amazon announced that it has sold more than one million Kindle books by Stieg Larsson, the author of The Girl with the Dragon Tattoo, part of the Millennium Trilogy — which is not available on the iBookstore.)

The new Kindle is premised on the same proposition as the old: that demand for more affordable dedicated devices still exists.

For evidence, look no further than Apple’s iPod. It shoots video, but the main draw is still music. And even with the launch of the iPad, the growth of the iPhone, and near saturation of the market for mp3 players, Apple sold 9.41 million iPods last quarter.

“It’s like running shoes,” says Russ Grandinetti, Amazon’s VP of Kindle content. “If I’m going five miles, I put on a pair that are designed for running and will be supportive, not my Chucks.”

Yet like Chuck Taylor sneakers, the new Kindle will continue to occupy a low price point and trade on a sort of timeless style and categorical rejection of bells and whistles. Jeff Bezos can only hope his product also matches Converse’s for longevity and sales.

What’s new about the new Kindle 3:

• 21% smaller with same 6-inch screen as previous model
• 15% lighter than previous model (8.7 ounces vs. 10.2 ounces)
• Electronic-ink screen has 50% better contrast than any other eReader
• 20% faster page turns than previous model, with improved fonts
• Battery lasts up to one month with wireless off, compared to two weeks for previous model
• Stores 3,500 books, double that of previous model
• Built in Wi-Fi
• Graphite color option
• Easier to grip surface
• Newly designed buttons and button layout
• Quieter page turn buttons
• Improved PDF reader
• Text-to-speech enabled menus
• New leather cover available, featuring a retractable reading light, powered by the Kindle
• Source : CNN.com

The world’s largest public energy company reported net income of $7.56 billion, or $1.60 a share, in the second quarter, up 91% from $3.95 billion, or 81 cents a share, in the same period in 2009.

Analysts were expecting earnings of $1.46 a share, according to a survey by Thomson Financial.

Earnings for the first half of 2010, excluding special items, were $13.9 billion, up 60% over the first half of 2009.

Shares of Exxon (XOM, Fortune 500) were little changed in Thursday trading.

Rex Tillerson, Exxon’s chief executive officer, said in a statement that the results reflect an increase in oil production, improved profitability in refining and strong performance in the company’s chemicals business.

Lower refining profits had weighed on Exxon’s results in recent quarters as the weak economy damped fuel consumption and crude prices rose. But margins improved in the second quarter as refining activity picked up ahead of the summer driving season.

Exxon said earnings in its global refining business rose $708 million to $1.22 billion in the quarter, driven by improved profitability. Earnings in the company’s chemicals business, its smallest division, jumped $1 billion to $1.37 billion.

The refining and marketing business as well as chemicals “really drove the results,” said Pavel Molchanov, an analyst who covers Exxon at Raymond James. But he cautioned that uncertain economic conditions around the world could curb energy demand once the “seasonal bounce” fades.

“There is still over-capacity in the global refining industry,” he said. “Exxon is certainly not immune to that.”

Meanwhile, the ongoing rebound in oil prices helped boost profit in Exxon’s oil production and exploration unit, in which earnings rose $1.5 billion to $5.34 billion in the quarter. Oil prices averaged $78 a barrel in the quarter, up from $60 a barrel in the same period last year.

Production was up 8% in the quarter, driven by contributions from Exxon’s assets in Qatar.

David Rosenthal, vice president of investor relations, said Exxon does not expect any “significant impact” on its financial performance from the moratorium on deepwater drilling in the Gulf of Mexico.

The ban was imposed earlier this year after a drill rig operated by BP (BP) exploded and gave rise to the worst oil spill in U.S. history.

While the company is eager to get back to work in the Gulf, Exxon currently has no plans to accelerate deepwater projects in other parts of the world due to the moratorium, Rosenthal said.

“There is a slight delay in the Gulf of Mexico, but we’re progressing full speed ahead in the rest of the world,” Rosenthal said during a conference call with analysts.

Rosenthal declined to speculate about the impact of any new regulations stemming from the spill. Lawmakers are considering legislation that would raise the liability cap that companies are obligated to pay for damage related to oil spills.

However, he said Exxon has been involved in the debate over new deepwater regulations, adding that the company will take advantage of any opportunities that may come out of the process.

The second quarter results included a negligible impact from Exxon’s recent purchase of XTO Energy, a natural gas company. The $36 billion deal closed on June 25.

Exxon said it expects natural gas production to triple as a result of the merger, making it the largest U.S. natural gas producer.

Share purchases are expected to total $3 billion in the third quarter, the company said. In the second quarter, the company bought back $1.6 billion worth of its common stock.

Exxon Mobil posted a record $11.7 billion profit in the second quarter of 2008 as oil prices rose near $150 a barrel. But earnings eased for the next six quarters as the global recession took hold and energy prices plunged.

Other energy companies have also announced strong second-quarter results. On Wednesday, ConocoPhillips (COP, Fortune 500) and Hess (HES, Fortune 500) both posted a larger-than-expected quarterly profits. Royal Dutch Shell’s earnings came out earlier Thursday. Chevron Corp. (CVX, Fortune 500) is slated to report results Friday.

The exception has been BP, which posted a $17 billion loss Tuesday due to charges stemming from the Gulf spill.

FORTUNE — Corporate chiefs may seem hardboiled, but they can be sensitive, too. Take the ruckus they’ve been raising over what they perceive to be rough treatment from the Obama White House.

The bubbling resentment of the administration among top corporate brass burst into the open in late June, when Verizon (VZ, Fortune 500) CEO Ivan Seidenberg addressed a lunchtime crowd gathered at a hotel in downtown Washington. “By reaching into virtually every sector of economic life, government is injecting uncertainty into the marketplace and making it harder to raise capital and create new businesses,” he said.

The critique was remarkable because Seidenberg was speaking in his capacity as chairman of the Business Roundtable, a trade group representing 170 top CEOs and, until recently, Obama’s last apparent ally among the major Beltway business collectives. The White House identified Seidenberg himself earlier this year as one of four chief executives whom Obama admires.

Seidenberg and others have been laying out substantive cases for how the administration’s economic agenda is failing to foster growth — pointing to regulatory uncertainty about how the health-care and Wall Street reform bills will be implemented, and complaining about what they call anti-competitive tax policies.

Cue the demon card

But there is another, more personal reason for the souring. Obama’s rhetoric on the stump, they say, has been overly broad and overly harsh in blaming big business for the nation’s economic woes. The charge has developed into a refrain. U.S. Chamber of Commerce president Tom Donohue said the administration’s push to overhaul health care, and financial and oil regulations has left companies “demonized.”

Billionaire real estate and media mogul Mort Zuckerman, appearing Sunday on CNN’s State of the Union, said the White House has “done something here that affects everybody’s confidence in the attitudes of this administration to the business community and to the economy. They have demonized the business world.” Even ousted BP (BP) chief Tony Hayward, a man deserving of rebuke if there ever was one, this week complained he was “demonized and vilified” in the U.S.

Democrats countercharge that the complaints from business leaders are overblown and misplaced. They argue Obama and his party made painful decisions to avert an economic catastrophe: bailing out the automakers, saving the banks without nationalizing them, and passing a massive stimulus package that they say wrenched the nation out of a tailspin. And they point as proof of their success to the performance of the private sector: second-quarter profits so far show big businesses are humming again, far outpacing analysts’ estimates.

That said, Democrats have made an attack on major industries an explicit part of their campaign message. The majority wants to make the election a choice between the two parties as opposed to what the GOP is pushing for — a referendum on the party in power. To do that, since spring, party leaders have hammered on a contrast they hope will stick: Democrats stand up for Main Street, while the GOP champions Wall Street; Democrats are for patients and doctors, while the GOP is for insurance industry profits; Democrats want to protect small businesses in the Gulf, while the GOP protects the oil companies. Et cetera.

For some CEOs, the tack appears to be confirming long-held suspicions that Obama is fundamentally anti-business. George W. Bush tried to hone an image as the CEO president, stocking his cabinet with former corporate captains. Obama appointed none. But he named some to an advisory board — and assiduously solicited input from a range of them. Seidenberg, for example, acknowledged he has been to the White House 16 times.

One Democratic lobbyist says CEOs, after plenty of face time with the President, now believe it hasn’t amounted to much. “There’s a lot of talk, but not a lot of action,” he says. Seidenberg’s speech last month, for example, came a day after the Business Roundtable responded to a White House request by sending budget director Peter Orszag a 54-page report outlining pending regulations they believe will stifle growth. Many now question whether their letter will do anything but gather dust.

Finding a middle ground

Jim Kessler, vice president for policy at Third Way, a business-friendly Democratic think tank, attributes the White House’s rhetoric to the need to sell moderate legislative wins to a dispirited base. “When your legislation moves to the center, your rhetoric has to move to the left,” he said. “And even sophisticated business people are not going to read a 2,000 page bill, so what they hear is the rhetoric.”

But the danger for the White House in going after corporate bigwigs too aggressively, Kessler said, is that Americans are still fundamentally pro-business. A recent survey his group commissioned from Benenson Strategy Group, Obama’s campaign pollster, found 63% of Americans think “most American companies value their employees and treat them well.” A minority felt large companies have too much power and hurt the middle class — and a majority believe the private sector, rather than the government, will be the engine of the economic recovery.

Some of the short-term political fallout for Democrats is already evident. The party’s fundraising from major Wall Street donors has fallen off a cliff, with collections out of New York down 65% since two years ago, according to a recent Washington Post report. Many of those donors now sitting on their wallets had been important boosters for Obama in his campaign — like J.P Morgan Chase (JPM, Fortune 500) CEO Jamie Dimon, who has cut off donations to the Democratic party committees and written a check to Mark Kirk, the Illinois Republican seeking Obama’s old Senate seat.

The disconnect with Wall Street, in particular, was brought into fresh relief this week as Obama traveled up to New York on Wednesday for back-to-back fundraisers. Both high-dollar events — one at the Greenwich Village home of Vogue editor-in-chief Anna Wintour, the other at the Four Seasons Hotel — sold out, according to the Wall Street Journal. But a Democratic fundraiser told the paper that anger toward Democrats among financial services executives will limit repeat engagements in town — and that Wall Street types asked to attend the events this week were either uninterested or only wanted to come so they could complain to the President.

How will Obama fix this problem? Jeffrey Garten, a professor of international trade and finance at the Yale School of Management, said he thinks the administration “is going to try to meet these guys halfway, because it’s genuinely concerned that the sour attitude will translate into a lack of investment.” Obama has already signaled he wants to get moving on stalled trade agreements with Korea, Colombia, and Panama.

“It’s going to be better in the short term,” predicted Garten, author of “The Mind of the CEO.” “He’ll bring in one or two business leaders into the administration, if he can find them. And he’ll try to cut a deal in which the rhetoric stops, and he finds some things that both he and the business community can say they’re going to go forward on, on a congenial basis.”

Source : CNN.com

Bank DKI will issue bonds worth Rp 750 billion (US$83 million) in September to help develop its credit sector.

Bank DKI corporate secretary Romy Wijayanto said Thursday that the bank had appointed PT Mandiri Security as its underwriter.

He said that the public expose would be held next month, tempointeraktif.com reported.

“We plan to use the fresh fund to help develop our credit sector. We usually allocated  60 to 70 percent of our fund to finance consumers,” he said.

Source : The Jakarta Post

Imported shoes have flooded Indonesian market, posing a threat to the country’s small and middle-scale footwear industry, shoemakers say.

Chairman of Indonesian Footwear Association (Aprisindo) Eddy Widjanarko said Thursday imports of shoes increased by between 50 and 55 percent in the first semester of the year compared to the same period last year.

“Our exports surged, so did our imports,” he said as quoted by kompas.com.

The Trade Ministry data revealed that realization of footwear imports rose from US$78.9 million in May of this year to $91.9 million in June.

Eddy said most of the imported footwear products were casual office shoes, rubber sandals, rubber shoes and non-branded formal shoes.

“The imports of office shoes course seize the market share of domestic industry,” he said. He predicted that imported non-branded formal shoes accounted for 80 percent of the product in the market.

Source : The Jakarta Post