Indonesia installs top businessman as economic chief minister

Indonesian President Susilo Bambang Yudhoyono on Monday officially installed one of the richest men in the country, Chairul Tanjung, as coordinating minister for economy at the State Palace. Tanjung replaces Hatta Rajasa who resigned last week for competing the July presidential polls, as running mate of presidential candidate Prabowo Subianto from the Indonesian Great Movement Party. Tanjung, 51, is chairman and founder of the CT Corporation and head of the National Economic Committee (KEN), the presidential economic advisory body. The CT Corporation is a holding company with interest on banking and media. Tanjung only has limited time to perform jobs as President Yudhoyono's cabinet is to end in October when the country would have a new president.