PRESS DIGEST-Indonesian newspapers - Sept 3

Following are some leading stories in the main Indonesian newspapers on Sept. 3.

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JAKARTA POST

- STEEL IMPORTS SOARS ON ROBUST DEMAND

Steel imports reached a record high for the first seven months of 2008, due to limited production capacity and soaring demand fuelled by government infrastructure projects, data from Central Statistics Agency showed.

- ADARO PAYS $60 MLN TO RESOLVE LAND DISPUTE WITH ASTRA

Indonesia's second-largest coal producer, PT Adaro Energy Tbk (ADRO.JK), has paid $60 million for sole ownership of a land concession in Kalimantan which was contested by the country's largest listed plantation firm, PT Astra Agro Lestari Tbk (AALI.JK)

- PARLIAMENT ENDORSED NEW TAX BILL

Parliament endorsed a new tax law on Tuesday, aimed at spurring economic activity by providing lower tax rates and more incentives for businesses.

- EX-INTELLIGENCE DEPUTY HEAD SAYS MURDER CHARGES ARE FLAWED

Former senior intelligence official Muchdi Purwopradjono pleaded not guilty on Tuesday to the murder of a prominent human right activist who died in 2004.

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INVESTOR DAILY

- METROPOLITAN LAND EYES 616 BLN RPH FROM IPO

Indonesian property firm, PT Metropolitan Land, plans to raise 616 billion rupiah ($67 million) from an initial public offering this year, a company spokesman said.

- BNI TO DISBURSE 500 BLN RPH TO PINDAD

Indonesia's fourth-largest lender, PT Bank Negara Indonesia Tbk (BBNI.JK), is set to lend 500 billion rupiah to state-owned arms company, PT Pindad, a senior bank executive said.

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