Indonesian Political, Business & Finance News

Archive: 8 February 1996

62 articles found

Roadwork may disrupt traffic during Idul Fitri

Roadwork may disrupt traffic during Idul Fitri JAKARTA (JP): Sporadic road repairs along the northern coast of Java will disturb the traffic flow from Jakarta to Central and East Java and vice versa, an official has warned. The head of the city land transportation control agency, JP Sepang, said that buses returning to Jakarta to pick up more Idul Fitri holidaymakers will be caught in heavy traffic congestion.

Govt cannot stop establishment of poll watchdogs

Govt cannot stop establishment of poll watchdogs JAKARTA (JP): The government yesterday said it does not have the authority to prevent private organizations from establishing their own independent election watchdogs, although it believes they are totally uncalled for. H.S.A. Jusacc, the spokesman of the Ministry of Home Affairs, said the constitution guarantees that people are free to form their own election monitoring committees.

Five months jail for burglars

Five months jail for burglars JAKARTA (JP): The West Jakarta District Court yesterday sentenced two men to five months imprisonment after finding them guilty of stealing electronic goods. Surya and Nurdin stole the goods from the house of Robby on Jl. Jelambar, West Jakarta, on Nov. 13 last year, the judge said. Included among the stolen goods were a television set and a fax machine. They broke into the house in the early hours of Nov. 13, according to witnesses.

Paraplegic travels the country

Paraplegic travels the country PADANG, West Sumatra: Thirty-year-old Ismail, a paraplegic who set off in 1988 to travel across the country on a specially- designed bicycle, has returned home. Ismail said yesterday that he planned to continue his trip and arrive in his hometown of Langsa in Aceh within seven months, Antara reported. On his trip he met President Soeharto, Vice President Try Sutrisno, Minister of Defense and Security Edi Sudrajat, and other cabinet ministers and governors.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Thursday Maghrib 6.19 p.m. Friday Imsak 4:28 a.m. Subuh 4.38 a.m.

'Delay first birth until 20'

'Delay first birth until 20' JAKARTA (JP): State Minister of Population Affairs Haryono Suyono yesterday appealed to young married couples to postpone the birth of their first child until the woman is at least 20 years old, to help with the government's family planning campaign. "Besides, from a medical point of view, a woman is better prepared to go through pregnancy at that age," Haryono, who also chairs the National Family Planning Board, was quoted by Antara as saying.

No more bus tickets to Sumatra available

No more bus tickets to Sumatra available JAKARTA (JP): Bus tickets to Sumatra destinations from Feb. 8 to Feb. 25 are no longer available at Pulo Gadung and Rawamangun bus terminals. An employee of the ANS bus company confirmed yesterday that all the tickets have been sold. "Passengers in groups had reserved the tickets. We did not sell the tickets to scalpers or brokers," she said. ANS buses ply the Jakarta-Padang, West Sumatra route.

JSX suspends Erdhika Mulyatama

JSX suspends Erdhika Mulyatama JAKARTA (JP): The Jakarta Stock Exchange (JSX) yesterday suspended a securities company, PT Erdhika Mulyatama, for thirty trading days for its failure to comply with trading rules. In addition to the suspension, which began yesterday, JSX also fined Erdhika Rp 2.5 million (US$1,081).

Indonesian press needs to strive for independence

Indonesian press needs to strive for independence SURAKARTA, Central Java (JP): Political and social analysts here have concluded that as long as the Indonesian press remains subservient to the state it will not be able to propagate the democratic values that are required to meet the challenges of the 21st century. The panelists, speaking at a discussion meeting here on Tuesday evening, confirmed what the public perceives as a servant-master relationship between the press and the government.

Toyota to buy RI engines

Toyota to buy RI engines TOKYO (Reuter): Toyota Motor Corp is considering importing engines produced by its Indonesian unit this autumn, a Toyota spokesman said yesterday. The four-cylinder 1,800cc engines would be used in Toyota's Japan-made commercial vehicles. They are now used in Kijang vans made by PT Toyota-Astra Motor, he said without elaborating. This would mark the first time Toyota has imported engines from any of its Asian subsidiaries.

Aceh has special Idul Fitri cards

Aceh has special Idul Fitri cards BANDA ACEH, Aceh: Most people choose to buy and send Idul Fitri greeting cards bearing pictures of the traditional drum bedug, ketupat (boiled rice cake) or mosques. Not some Acehnese. They prefer greeting cards with the picture of the KMP Gurita, which sank three weeks ago in the waters off Aceh. A total of 54 bodies had been found, as well as 40 survivors. The number of passengers was estimated at 306. The search for more bodies officially ended last Friday.

Three ITB lecturers and two students expelled

Three ITB lecturers and two students expelled JAKARTA (JP): Three junior lecturers and two students have been expelled from the prestigious Bandung Institute of Technology (ITB) following the controversy over the death of a freshman during an initiation week program recently.

Cheil improves waste processing

Cheil improves waste processing SURABAYA: Cheil Samsung Indonesia, a Korean food seasoning company which became the target of violent demonstrations by local residents for allegedly polluting the river last year, announced yesterday it has "improved" its sewerage. The company directors reported the improvement to East Java Deputy Governor Abdul Hamid when the latter visited the company's compound in Rejoso village, Pasuruan regency.

President's Cup boxing takes a break this year

President's Cup boxing takes a break this year JAKARTA (JP): Indonesia will not stage the President's Cup boxing championships this year due to the busy international agenda. Imron Z.S., executive chairman of the Indonesian Amateur Boxing Association, said yesterday that the annual tournament, scheduled for August, would only distract national boxers' preparations for the Olympic Games and the National Games. The Olympics take place from July 19 to Aug.

Softball to make comeback in SEA Games

Softball to make comeback in SEA Games JAKARTA (JP): The Indonesian Softball Association urged yesterday the National Sports Council to include softball among medal events in the upcoming 19th Southeast Asian Games here next year. Suryo Adi Prasetyo, secretary-general of the association, and training director Doedie Gambiro said in a hearing with the council that four countries support Indonesia's bid to bring the sport back into the SEA Games arena.

Customer sues bank over account

Customer sues bank over account JAKARTA (JP): A customer of Standard Chartered Bank has sued the bank for blocking her office account for no legal reason and, therefore, defaming her name and her office reputation. Lawyer Rusdi Nurima said that Standard Chartered Bank has refused to disburse cheques worth Rp 978.8 million (US$424640) from his client, Yee Mei Mei of Dragon Bank International Ltd., of Vanatu, even though the account still contains Rp 1 billion.

Sri Lanka's fate as W. Cup host put on hold

Sri Lanka's fate as W. Cup host put on hold NEW DELHI (AFP): Cricket's administrators yesterday were involved in hectic consultations over Sri Lanka's fate as World Cup host, but a decision was unlikely to be taken before the weekend. Organizers said they were talking long-distance with officials in Australia and the West Indies, who have refused to play in Sri Lanka for security reasons following last week's bomb blasts in Colombo which killed over 80 people.

Blast at university wrecks lavatory

Blast at university wrecks lavatory JAKARTA (JP): Students angry over bad examination results are believed to be behind the explosion which ruined a university toilet yesterday. Luckily there were no victims as at the time nobody was in the toilet, an employee of the Tarumanegara private university said. "This is exactly what happened last week in the toilet on the first floor," the employee who requested anonymity said.

Spotlight

Spotlight Photo A: Hyatt Grand Hyatt Jakarta NEW HYATT HOTEL: On Jan. 10, Minister of Tourism, Post and Telecommunications Joop Ave, South Sulawesi Governor ZB Palaguna and Bernd Chorengel, president of Hyatt International, witnessed the signing of an agreement between PT Sulawesi Wisatanusakarya, a branch of A. Latief Corporation, and Hyatt International for the establishment of the new Hyatt Regency Hotel in Ujungpandang.

Enron has last laugh on India project

Enron has last laugh on India project By Clarence Fernandez BOMBAY (Reuter): Manohar Joshi, the chief minister of India's wealthiest state, seems an unlikely cowboy. He successfully took on the Texans and won. Or so it seemed. When Maharashtra's right-wing alliance government forced U.S. energy company Enron Corp to make almost $600 million worth of cost cuts on India's largest foreign investment project in January, Joshi was riding high.

Malaysia operates Islamic money market

Malaysia operates Islamic money market KUALA LUMPUR (AFP): Malaysia's central Bank Negara said yesterday it had decided to use the Islamic interbank money market as another avenue to influence liquidity in the banking system. "As and when the situation warrants, Bank Negara may conduct its money market operations via the Mudharabah interbank investments (Islamic papers) to provide liquidity in the market," the bank said in a statement.

Indosat's profilts rise by 59% to Rp 459b in 1995

Indosat's profilts rise by 59% to Rp 459b in 1995 JAKARTA (JP): The state-owned international telecommunications company PT Indosat yesterday reported a 59 percent rise in its net profit last year to Rp 459.4 billion (US$198.7 million) from Rp 289 billion in 1994. The company's president, Tjahjono Soerjodibroto, told a press conference that Indosat's sales grew by 14.9 percent from Rp 909.3 billion in 1994 to Rp 1.04 trillion last year.

Novus in Kakap oil field

Novus in Kakap oil field SYDNEY (Reuter): Novus Petroleum Ltd said it has agreed to pay US$10.2 million to the U.S.-based Marathon International Oil Co to lift its stake in Indonesia's Kakap offshore oil field to 25 percent from 18.75 percent. Novus said it reached final agreement on the sale on Monday, picking up another 6.25 percent from Marathon, which is selling its entire 37.5 percent stake in the Kakap production sharing contract.

Hillary column

Hillary column Last Sunday's Jakarta Post (Feb.4) featured its usual syndicated column of Hillary Clinton's "Talk It Over". For the readers' benefit I shall repeat verbatim what Hillary expressed towards the end of her passage "Americans equipped best to help the world". "Now is no time to recede from our commitment to peace around the world.

High rise in rice prices good for farmers: Analyst

High rise in rice prices good for farmers: Analyst JAKARTA (JP): The 12.5 percent increase in the floor price of unhusked rice will improve the terms of trade for farmers as long as prices of other commodities do not follow suit, food commodities analyst Chrisman Silitonga said here yesterday. Silitonga was quoted by Antara as saying that the price increase, which was announced yesterday, was "quite high" and exceeds last year's inflation rate of 8.46 percent.

Vision needed

Vision needed The progress we have achieved -- as measured by income per capita, the export-import balance, the state of our technology and industry -- is not yet on par with that achieved by other countries, even in the Southeast Asian region. Even though our population and national territory are far larger, we find ourselves swept away in a maelstrom of profound changes and conditions of a different character. We find ourselves engulfed in a tide of global changes and all that comes with it.

Local press getting bolder, observers say

Local press getting bolder, observers say SEMARANG (JP): The Indonesian press has become more courageous in recent years and more effective in keeping the government in check, some political observers say. Law expert Muladi and political scholar Mochtar Pabotinggi said on separate occasions yesterday that the press has become more critical in the current climate of greater freedom.

Urea fertilizer debacle

Urea fertilizer debacle The furor over the shortage of urea fertilizer over the last few months, reportedly caused in part by farmers' opposition to using urea in tablet form, is strange for two reasons. Firstly, Indonesia's urea manufacturing capacity is almost 60 percent larger than its domestic needs.

Indonesia eyes Olympic beach volleyball berth

Indonesia eyes Olympic beach volleyball berth JAKARTA (JP): Indonesia is out to win an Olympic berth for its women's team in the World Championships Series in Rio de Janeiro, Brazil, which starts today. Siti Hardiyanti Rukmana, newly installed chairperson of the Indonesian Volleyball Federation, said yesterday that the women's spikers have a great chance to qualify for the Olympics due to their world ranking of 16th.

Indonesia regrets Canadian protest

Indonesia regrets Canadian protest JAKARTA (JP): The Ministry of Foreign Affairs yesterday summoned Canadian Ambassador Lawrence Dickerson to express Indonesia's deep regret at Ottawa's protest last week alleging Indonesian government pressure on the mother of an East Timor activist residing in Canada. Ministry chief spokesman Ghaffar Fadyl confirmed that Director General for Political Affairs Izhar Ibrahim conveyed the Indonesian position to Ambassador Dickerson.

Police seek help of 'spiritual guru'

Police seek help of 'spiritual guru' PROBOLINGGO, East Java: Police have asked a local man, known to be a "spiritual guru", to help solve the recent murder of a "sorcerer", because the two suspects in their custody have started to blame each other, Antara reported. Police chief Lt. Col. Suyatno HP said here yesterday that both suspects, identified only as Dju and Ar, turned themselves in on Jan. 29 and Feb. 3, respectively, escorted by the chief of Palangbesi village.

President to revoke beer ruling

President to revoke beer ruling JAKARTA (JP): President Soeharto is expected to issue a decree revoking the Bali governor's ruling authorizing a private company, PT Arbamass Multi Invesco, to act as sole distributor of levy-labeled beer in the resort island.

Two lecturers get award

Two lecturers get award PONTIANAK, West Kalimantan: M. Asrori and Tadjudin Nur, both staff lecturers at Tanjungpura University, recently won an award for their research on education, Antara reported. One paper was on students who also have to work to earn their livelihood and help their parents. It involved students living in borders and remote areas in the province.

Govt raises floor prices of rice

Govt raises floor prices of rice JAKARTA (JP): The government yesterday raised the floor price of unhusked rice by Rp 50 or 12.5 percent to Rp 450 (19.9 U.S. cents) following a two-year record high of the country's inflation rate in January. Minister of Information Harmoko said that the unprecedented increase in the unhusked rice price was essential to improve farmers's deteriorating economic position.

Help-the-poor savings

Help-the-poor savings JAKARTA (JP): Bank Putera Multikarsa has introduced a help-the poor savings program to support the government's efforts of alleviating poverty in the country. Under the three-month program, the bank has committed to setting aside a Rp 2,000 (86.5 U.S. cents) to Rp 5,000 fund, which is not taken from its clients, for every new savings account or deposit opened, the bank's marketing manager, Willijardi Halim, said yesterday.

Rape case probe continues

Rape case probe continues JAKARTA (JP): Deputy Governor for Administrative Affairs Idroes threatens to punish city public order office staffers who are involved in a recent housemaid rape case. Investigation on the involvement of the city public order officials is going on, he told reporters on Tuesday. "We will not hesitate in punishing those involved in the crime and those who let the rape happen," Idroes said, adding that dismissal is very possible to the errant officials.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 7, 1996: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 775 -25 32,000 AHAP Insurance 2,800 0 0 Alumindo Perkasa 1,375 0 0 Andayani Megah 1,975 -100 53,000 Aneka Kimia Raya 5,900 0 91,000 Anwar Sierad 1,575 -25 1,607,500 Aqua Golden Mississippi 1,600 0 0 Argha Karya Prima Industry 2,150 25 75,000 Argo Pantes 1,800 0 0 Asahimas Flat 2,825 25 2,879,500 Asiana IMI...

Man gets life for parcel bomb

Man gets life for parcel bomb HANOI (AFP): A man in the central Vietnamese province of Lam Dong has been jailed for life for using a home-made parcel bomb to settle scores with an executive over a land dispute, the press reported yesterday. Dinh Van Suong, former chief of the provincial office of the hydraulic enterprises planning union, was also ordered to pay damages of 34 million dong (around US$3,000) for the crime, committed last October.

Girlfriend's testimony

Girlfriend's testimony JAKARTA (JP): The girlfriend of a murdered cable construction worker has testified in the Central Jakarta District Court that she saw one of the three suspects in the case with the victim on the night of the murder. The worker, Bandi, 30, a cable construction worker of PT Telkom, was allegedly murdered by three of his associates employed by the cable construction company PT Mekadaya.

Japanese companies attracted to Asian market

Japanese companies attracted to Asian market By Tim Cribb TOKYO (AFP): Japan's current account data due out this week is expected to underscore the enormity of its growing surplus with Asia, which officials say is being fueled by the shift of its companies into the region. Driven by the strong yen and the search for cheap places to produce, Japanese companies have set up joint ventures and subsidiaries throughout the region, generating as they go a hefty surplus for the nation's balance sheet.

APEC drafts Manila summit action plan

APEC drafts Manila summit action plan MANILA (AFP): More than 500 senior officials from the 18- member countries of the Asia Pacific Economic Cooperation (APEC) began yesterday a crucial two-day forum to draw up action plans to be presented at the APEC summit here in November.

Noe sale commemorates an Indonesian collector

Noe sale commemorates an Indonesian collector By Amir Sidharta JAKARTA (JP): Last year, admirers and collectors of art in Indonesia grieved the loss of Adrian Noe, a respected collector of Asiatic art. This week, his entire collection will be auctioned by Christie's at the Erasmus Huis, Jakarta.

Chemical firm told to close warehouse

Chemical firm told to close warehouse JAKARTA (JP): The West Jakarta mayor has ordered the management of PT Agung Kimia Jaya Mandiri chemical company to close its warehouse in West Jakarta following a spate of protests by area residents over pollution and explosions. The head of security affairs of the mayoralty, Karsidin, said yesterday that the mayor made the decision following a big explosion on Sunday which injured 15 residents and damaged 27 houses.

Garuda revises order

Garuda revises order SINGAPORE (Reuter): McDonnell Douglas said yesterday that Garuda Indonesia was converting its order for three MD-11 aircraft into MD-11ER. McDonnell officials told a news conference that delivery of the aircraft had been moved ahead to late 1996 and 1997 from the previously announced 1998 and 1999. Financial terms were not disclosed. It also announced that World Airways would add two MD-11ER planes to its existing fleet of seven MD-11 and six DC-10.

Thai firms rush to issue ECDs

Thai firms rush to issue ECDs BANGKOK (Reuter): Thai listed companies are taking advantage of the local stock market's recovery and a downtrend in interest rates abroad to step up the issue of Euro Convertible Debentures (ECDs), bankers and analysts said yesterday. Since the beginning of the year five Thai firms have announced they will issue ECDs in foreign markets, compared with four issues in all of 1995 and nine in 1994, data from the Securities and Exchange Commission shows.

TV today

TV today TVRI 2:30 p.m. Travel: My Country 2:35 TV Series: Ultraman 3:00 News: Lintasan Berita 3:05 Dance: Variety Dance 3:30 Women's Program: Health Service 4:00 News: Lintasan Berita 4:05 TV Series: Al Jamalludin Al Afghani 5:00 Evening News 5:25 Travel: My Country 5:30 Arabic Lessons 6:00 News: Lintasan Berita 6:05 Nusantara, the Beloved Country: Lampung 6:15 Village Program 6:25 Ramadhan Tradition: Kepasrahan 6:35 Religious Teachings: Islam 7:00 Evening News 7:25 Garuda...

Siti Hardiyanti inducted as new volleyball leader

Siti Hardiyanti inducted as new volleyball leader JAKARTA (JP): Siti Hardiyanti Rukmana was sworn in yesterday as the new chairperson of the Indonesian Volleyball Association, with a pledge to restore the country's pride in the sport. The induction ended three weeks of uncertainty about her acceptance of the post. The association last month agreed to name Siti Hardiyanti the single elector and the chairperson in a congress.

Where to go in Jakarta:

Where to go in Jakarta: Music * Hotel Dai-ichi, Jl. Senen Raya 135, Central Jakarta. - Mezzanine Lounge: Solo Pianist, daily from 7:30 p.m. to 10:30 p.m., opening hours Monday to Sunday 11 a.m to 1 a.m. * Hotel Aryaduta, Jl. Prapatan 44-48, Central Jakarta: - Ambiente Italian Restaurant: Bonauli vocal group, Monday and Wednesday from 7 p.m. to 1 p.m.; Los Morenos, Tuesday, Thursday and Sunday from 7 p.m. to 11 p.m. - The Tavern Pub: Yeah Yeah Boys, Sunday and Thursday, 9:30 p.m.

Indonesia Open golf tourney in Jagorawi

Indonesia Open golf tourney in Jagorawi JAKARTA (JP): The Indonesia Open, the country's oldest men's professional golf championship, will be staged for the 21st time from March 13 to March 17 at the Jagorawi GC, Cibinong, West Java.

Mentiga in RI venture

Mentiga in RI venture KUALA LUMPUR (Reuter): Malaysia's Mentiga Corp Bhd said it has signed a joint venture agreement with Indonesia's Tradisi Group to develop 25,000 hectares of secondary forest in north Sumatra island into an oil palm plantation. Tradisi will provide the land and Mentiga will participate through a 90 percent equity interest in a joint company to be formed, Mentiga said in a statement late on Tuesday.

PLN to float Rp 1t of bonds this year

PLN to float Rp 1t of bonds this year JAKARTA (JP): State-owned electricity company PLN will issue bonds worth Rp 1 trillion (US$432.5 million) this year to partly finance new power projects. PLN president Djiteng Marsudi said yesterday that the plan of the bond issuance had been approved by the government. Around 80 percent of the proceeds raised from the bond issuance will be used to finance the construction of transmission and power plant projects in Java, he said.

NU dissenters to set up rival chapter board

NU dissenters to set up rival chapter board SURABAYA (JP): Breakaway leaders in Indonesia's largest Moslem organization Nahdlatul Ulama (NU) are preparing to establish a rival chapter in East Java. K.H. Hasib Wahab, the deputy chairman appointed to the rival central board established last month, as well as an NU leader in East Java, announced yesterday their plan to set up the new chapter. "East Java is the first priority," he told The Jakarta Post.

Mosque loudspeakers

Mosque loudspeakers From Republika I used to visit mosques all over the country, especially the ancient ones, where I loved to perform my prayers. My attraction to mosques is their beauty and grandeur, also their miraculous ability to create inner peace. That was then. Now I feel distant from mosques.

Information, not condoms in hotels

Information, not condoms in hotels JAKARTA (JP): The government has ruled out the suggestion of providing free condoms in every hotel room as part of its anti- AIDS drive. Instead, it urged hotels to put leaflets on the danger of AIDS in every room. Director General of Tourism Andi Mappi Sameng said that while from the medical point of view the use of condoms is good to prevent the spread of the Acquired Immune Deficiency Syndrome, promoting their use could send the wrong message to the public.

ICRC sends team to meet Irian rebels

ICRC sends team to meet Irian rebels JAKARTA (JP): A team from the International Committee of the Red Cross (ICRC) office in Jakarta flew to Irian Jaya yesterday to join in the government's efforts to secure the release of 13 people, including six Europeans, held hostage by separatist rebels. The team is headed by the ICRC's chief representative in Indonesia, Henry Fournier, Antara reported quoting an official of the Red Cross office in Jakarta.

Guide to language training business

Guide to language training business By John Phillips This is the first of two articles on English teaching in Indonesia. YOGYAKARTA (JP): I first came to Indonesia to become a language education consultant at a government project under the nominal supervision of a private school. The school seemed to be a legitimate organization as it held several government contracts and employed native English teachers. They also represented themselves as education experts.

Syarwan appointed ABRI political chief

Syarwan appointed ABRI political chief JAKARTA (JP): Maj. Gen. Syarwan Hamid, who has articulated most of the military's political views for the past year, has been promoted to become the Armed Forces Chief of Political Affairs. Syarwan, currently assistant to the chief of political affairs, will replace Lt. Gen. Moh. Ma'ruf in a ceremony led by ABRI Chief Gen. Feisal Tanjung on Friday, Antara reported yesterday. The news agency did not say what new assignment awaits Ma'ruf.

Bus driver arrested for raping maid

Bus driver arrested for raping maid JAKARTA (JP): A minibus driver was apprehended by an angry mob yesterday after he allegedly raped a maid in the Jatimakmur village in Pondok Gede, Bekasi, 30 kilometers west of here. Head of the Bekasi police precinct Lt. Col. Elfrizo Tobing confirmed the report, saying that the suspect is Marihotma Simamora, a 25-year-old driver of a Koasi minibus. He allegedly raped Santi, 18, on the second floor of a house belonging to their employer at about 2:30 p.m.

Minister refuses to downsize bureaucracy

Minister refuses to downsize bureaucracy JAKARTA (JP): The government has turned down proposals to cut the four-million strong civil service to improve efficiency. "We have no intention to trim the bureaucracy because we don't want to please bureaucrats who remain in office while plunging others (who have to go) into misery," State Minister of Administrative Reforms T.B. Silalahi said yesterday.

RI gets ADB loan

RI gets ADB loan MANILA (AFP): The Asian Development Bank (ADB) has extended a US$102-million loan to strengthen engineering education in Indonesia, a statement from the bank said yesterday. The loan, approved Tuesday, will help fund the country's Engineering Education Development Project which is aimed at increasing Indonesia's capacity to produce better engineers, the statement, issued from the bank's headquarters in the Philippine capital, said.

Investors urged to set up mutual funds

Investors urged to set up mutual funds JAKARTA (JP): The new capital market law should provide the momentum for domestic institutional investors, including pension funds, to become more active on the stock market through mutual funds, an official said.

House to question evacuation of shopping bridge

House to question evacuation of shopping bridge JAKARTA (JP): Legislators have pledged to demand an explanation from the city mayoralty over Monday's evacuation of 60 shop owners from a pedestrian walkway. "Be sure to give me a call if you are denied entry to your shops tomorrow," Popo Sonadar Haroen, a legislator from the Indonesian Democratic Party faction who met ten shop owners clinging to thin hopes of seeking justice, at the House of Representatives yesterday.