Indonesian Political, Business & Finance News

Archive: 26 May 1994

23 articles found

New concern in Jakarta over reports of stampede in Mecca

New concern in Jakarta over reports of stampede in Mecca JAKARTA (JP): Preliminary reports from Saudi Arabia suggesting that there were no Indonesians among the hundreds believed to have died in a stampede during the haj pilgrimage may not be accurate, officials here said. Minister of Religious Affairs Tarmizi Taher told reporters on Tuesday that he could not ascertain for sure that there were no Indonesians among the victims of the Monday's stampede in Mecca.

Six forest concessionaires to lose licenses

Six forest concessionaires to lose licenses JAKARTA (JP): Six of the 19 forest concessionaires in Central Sulawesi will lose their licenses for failing to meet forestry requirements, Minister of Forestry Djamaloedin Soeryohadikoesoemo says.

ASEAN At A Glance

ASEAN At A Glance Floods ravage Davao city DAVAO, Philippines (AFP): At least one person was killed and nearly 2,000 people fled their homes in this southern city due to floods spawned by a tropical depression, rescue officials said yesterday.

JP/10/PBSI

JP/10/PBSI JAKARTA (JP): The Badminton Association of Indonesia (PBSI) has denied that promises were made by entrepreneurs to pay cash bonuses to the national badminton teams if they brought home the world team cups. "Up to now, we haven't heard from them (entrepreneurs) that they will award our players an enormous amount of cash," PBSI chairman Soerjadi said during a victory celebration dinner on Tuesday.

Britain offers long-term trade package - Mahathir

Britain offers long-term trade package - Mahathir KUALA LUMPUR (Reuter): Britain has offered Malaysia's government a long-term trade package to try to end its boycott of British businesses, Malaysian Prime Minister Mahathir Mohamad said yesterday. The national news agency Bernama quoted Mahathir as saying that British Trade Minister Richard Needham, who made a surprise one-day visit on Tuesday, had offered the package. It gave no details.

Quake jolts Irian Jaya

Quake jolts Irian Jaya JAKARTA (JP): A major earthquake measuring 5.8 on the Richter scale jolted Irian Jaya province yesterday afternoon, with Paniai regency the hardest hit area. Margiono, an official of the National Quake Center at the Meteorological and Geophysics office told The Jakarta Post that the quake struck at 1:03 p.m. Eastern Indonesian Time with the epicenter located in the sea off Cendrawasih Bay. The center of the quake was recorded at 33 kilometers below the earth's surface.

Javanese culture not democratic and chauvinistic: Sociologist

Javanese culture not democratic and chauvinistic: Sociologist JAKARTA (JP): The kind of nationalism which grows from the dominant "undemocratic" Javanese culture is chauvinistic, noted sociologist Dr. Mochtar Naim says. Indonesia's current quest for democracy becomes a problem here because of competing forces between the undemocratic Javanese subculture with the more egalitarian Malay subculture, Naim said.

Farmers burn palm oil fruit

Farmers burn palm oil fruit JAKARTA (JP): Farmers involved in a nucleus-estate-and- smallholder project in Grogot, East Kalimantan are burning their palm oil fruit because the palm oil refinery of state-owned PT Perkebunan VI cannot accommodate their products. F.X.

Golden Key virtually a one-man show: Prosecution

Golden Key virtually a one-man show: Prosecution JAKARTA (JP): Eddy Tansil ran Golden Key Group virtually all by himself, with many of his hand-picked directors simply front men with backgrounds ranging from a feeble retired army general to an office cleaner. This was revealed on Tuesday during the trial of Tansil, who stands accused of siphoning off some US$449 million worth of funds from the government's Bank Pembangunan Indonesia (Bapindo).

Young man arrested over murder of Bogor student

Young man arrested over murder of Bogor student JAKARTA (JP): The Bogor Police yesterday arrested a 20-year old man as the mystery surrounding the murder of a female student at the Bogor Institute of Agriculture (IPB) began to unfold. The chief of the Bogor police, Lt. Col. Nono Supriono, said Sofyan bin Atang, an unemployed man who lives in the victims neighborhood, was arrested in Bukit Duri, South Jakarta, in connection with last week's murder.

The Financial Club opened

The Financial Club opened JAKARTA (JP): The Financial Club, a gathering place for financial sector executives, was officially opened on Tuesday night by Coordinating Minister for Economy and Finance Saleh Afiff. The club formed by the Indonesian business community is located on the top floor of the Niaga Tower on Jl. Jenderal Sudirman, Jakarta.

Across the Archipelago

Across the Archipelago Floods leave untold damage PADANG, West Sumatra: West Sumatra province requires at least Rp 500 million (US$230,000) to repair public facilities damaged by recent major floods and to assist stricken families. The floods caused extensive damage to irrigation canals, houses and crops in Canduang district, said Alhamra of the local social service office. Assistance from private and government organizations has been trickling in.

NAM ministers to decide on new leaders in Cairo

NAM ministers to decide on new leaders in Cairo JAKARTA (JP): Foreign ministers of the Non-Aligned Movement (NAM) will meet in Cairo next Tuesday to discuss which member nation will replace Indonesia as chairman next year. Minister of Foreign Affairs Ali Alatas said here on Tuesday that he will go to the Egyptian capital after attending a meeting of the Indonesia-Malaysia Joint Commission in Kuala Lumpur on May 28.

State banks record poor returns on assets, equities

State banks record poor returns on assets, equities JAKARTA (JP): The rate of return on assets and equities at Indonesia's state-owned banks were the lowest in all of Asia, a visiting British expert says. Robin Monro-Davies, a managing director of the London-based International Banking Credit Analysis (IBCA) credit rating agency, told a business luncheon here on Tuesday that his agency has found out that Indonesia's private banks had a better performance than state banks.

Domestic news more trustworthy than foreign: Survey

Domestic news more trustworthy than foreign: Survey JAKARTA (JP): The government should have no fear about the increasing intrusion of foreign news broadcasts via satellite because most owners of dish antennas find that local networks are more trustworthy when it came to local news. That was the finding of a semi-official survey, further supporting the government's "open-sky" policy as more and more people now have access to foreign television networks.

Adopted babies traded like meat in transplant market

Adopted babies traded like meat in transplant market JAKARTA (JP): The government is once again tightening adoption laws after receiving chilling reports that babies intended for adoption were ending up with organ trade syndicates. The thrust of governments efforts is to decrease the number Indonesian babies who can be adopted by foreigners.

Issuers of debt instruments to be assessed by credit rating

Issuers of debt instruments to be assessed by credit rating agency JAKARTA (JP): The government will soon introduce a new regulation requiring all issuers of commercial papers and bonds to be assessed by the newly established credit rating agency, an official says.

Two listed firms report profit declines

Two listed firms report profit declines JAKARTA (JP): Two companies listed on the Jakarta and Surabaya stock exchanges reported declines in after-tax profits for their 1993 operations in the annual meetings of their shareholders here on Tuesday. PT Eratex Djaja Ltd., a garment manufacturer based in Probolinggo, East Java, reported that its after-tax profit fell by 19 percent to Rp 7.5 billion (US$3.4 million) last year from Rp 6.08 billion in 1992.

JAKARTA (JP): Share trading on the Jakarta Stock Exchange

JAKARTA (JP): Share trading on the Jakarta Stock Exchange (JSX), which recorded an increase by over 10 points on Monday, continued strengthening on Tuesday, propping up the broad-based Composite Index to 501.99 on Tuesday from 498.36 on Monday. The stock market was closed yesterday due to a national holiday in commemoration of the Buddhist Day of Enlightenment, Waisak.

Factories hike salaries in aftermath of riots

Factories hike salaries in aftermath of riots By Ridwan M. Sijabat MEDAN, North Sumatra (JP): If one good thing has come out of last month's labor riots, it is that factories have finally raised their daily wages and begun to meet various other obligations. In the aftermath of the riots, Medan manpower officials and the military have been touring factories in the province convincing owners of the need to respect the workers' rights for the benefit of their businesses.

Nationalism: A political commodity?

Nationalism: A political commodity? By Amir Santoso ---------------------------------------------------------------- Debates on nationalism has resurfaced recently, focusing on the establishment of certain intellectual groups. Political scientist Amir Santoso examines this phenomenon. ---------------------------------------------------------------- 1 col 8 pt JAKARTA (JP): Nationalism has now become a political commodity.

Myanmarese troops seize porters for Khun Sa battle

Myanmarese troops seize porters for Khun Sa battle TACHILEK, Myanmar (Reuter): Myanmarese government troops have seized hundreds of people from this border town to serve as porters in nearby hills where they are battling Golden Triangle opium warlord Khun Sa, residents said yesterday. The troops have swept through tea shops, restaurants and gambling dens, seizing able-bodied men to carry ammunition and other supplies to frontline positions.

World worried U.S. may reject GATT, Malaysia says

World worried U.S. may reject GATT, Malaysia says KUALA LUMPUR (Reuter): The world is growing worried the U.S. Congress may not ratify the General Agreement on Tariffs and Trade (GATT) pact, Malaysia said. Speaking to reporters after talks with GATT Director-General Peter Sutherland, International Trade and Industry Minister Rafidah Aziz said Tuesday that GATT members had become alarmed at reports of opposition to the pact in Congress. "He is very, very worried.