Indonesian Political, Business & Finance News

Archive: 25 October 1997

66 articles found

Multidana raises $177.6m

Multidana raises $177.6m HONG KONG (Reuters): Indonesian finance firm PT Putra Surya Multidana has completed a US$177.6 million asset-backed securities (ABS) issue, arranger Salomon Brothers International said yesterday.The issuer of the securities is Indonesian Motor Vehicle Funding 1997-1 Ltd.

Lee urges U.S.-ASEAN free trade arrangements

Lee urges U.S.-ASEAN free trade arrangements SINGAPORE (AFP): Singapore elder statesman Lee Kuan Yew urged the United States yesterday to enter into free trade arrangements with Southeast Asia in order to help the region compete with China's fast-growing economy.

Politics, disaster may slow down economic recovery

Politics, disaster may slow down economic recovery JAKARTA (JP): A major political event next year and natural disasters will slow down Indonesia's effort to recover from the economic turmoil caused by the currency crisis, former finance minister Frans Seda said yesterday.

Bakin warns public about antigovernment movements

Bakin warns public about antigovernment movements JAKARTA (JP): State Intelligence Coordinating Board (Bakin) chief Lt. Gen. (ret) Moetojib warned yesterday that antigovernment movements would intensify their efforts to disturb next year's presidential election.

Students show off dancing skills at JIS

Students show off dancing skills at JIS JAKARTA (JP): Dancing class students from the Jawaharlal Nehru Indian Cultural Center will join with professional dancers tomorrow to demonstrate their prowess at the Jakarta International School, South Jakarta.

S and P's downgrades battered Thailand again

S and P's downgrades battered Thailand again BANGKOK (AFP): Credit ratings giant Standard and Poor's (S and P's) yesterday slashed Thailand's long- and short-term foreign currency ratings, saying political turmoil was undermining efforts to turn around the ailing Thai economy.

Enron invests in Thailand

Enron invests in Thailand BANGKOK (AFP): U.S. oil giant Enron Corp. has signed a three- year agreement to form a joint venture with a local partner to bid for power and water supply projects in troubled Thailand, reports said yesterday.

Protest against brothel relocation

Protest against brothel relocationFrom PelitaThe people of Rawa Malang in North Jakarta have reportedly lodged a protest against a government plan to relocate a brothel in Kramat Tunggak to their village.

Storm ruins dozens of houses

Storm ruins dozens of houses BOJONEGORO, E. Java: Strong winds and torrential rains ruined on Wednesday 30 houses in Tambakrejo district in Bojonegoro regency, East Java, Antara reported Thursday.A local government official reported on Thursday the storm killed 10-year-old Yulianto.

Save Onrust Island from erosion, neglect: Historian

Save Onrust Island from erosion, neglect: Historian JAKARTA (JP): An historian urged the municipality yesterday to save Onrust Island in the Thousand Islands chain, north of Jakarta, by declaring it a cultural conservation area.

China, Vietnam in big deals

China, Vietnam in big deals HANOI (AFP): China and Vietnam have signed two multi-million dollar loan agreements during a visit here by Chinese Vice- Premier Wu Bangguo, the foreign ministry said yesterday.

Hayono against over-publicizing of Games bonuses

Hayono against over-publicizing of Games bonuses JAKARTA (JP): State Minister of Youth Affairs and Sports Hayono Isman said yesterday that the bonuses handed over to the best 19th SEA Games athletes should not be over-publicized.

RI must adopt global values: Seda

RI must adopt global values: Seda JAKARTA (JP): Indonesia must adopt global values to participate in the globalized economy, former finance minister Frans Seda said yesterday.Seda said in order to participate in the global economic community, the country must be able to conform to a new set of...

Coral reefs threatened

Coral reefs threatened AMBON, Maluku: Experts have called for action to protect coral reefs in Ambon Bay, a popular tourist destination, currently under threat from the increasing industrial waste."The immediate threat comes from the presence of a dockyard built along the coast of Silale village in...

Improve public transportation!

Improve public transportation! I fully support the Jakarta governor's suggestion to abolish the three-in-one system for the basic reason that it doesn't work. Also, I do not think it would be wise to implement a sticker system as it would not be fair to burden common people with that kind of fee...

Indonesian league to kick off Nov. 16

Indonesian league to kick off Nov. 16 JAKARTA (JP): Despite uncertainties over sponsorship, the fourth Indonesian League soccer competition is to start on Nov. 16, an Indonesian Football Association (PSSI) spokesman has said.

Aneka Tambang sets share price

Aneka Tambang sets share price JAKARTA (JP): State-owned mining firm PT Aneka Tambang and its underwriters agreed yesterday to set the price of shares for the company's initial public offering (IPO) early next month at between Rp 1,400 and Rp 1,800 a share.

Golkar in all-out battle for Soeharto

Golkar in all-out battle for Soeharto JAKARTA (JP): The ruling Golkar went full steam ahead yesterday in its campaign to reelect President Soeharto, trying to persuade other factions in the People's Consultative Assembly to heed "convention" and follow suit.

Red-light district to be relocated soon

Red-light district to be relocated soon JAKARTA (JP): The red-light district in Kramat Tunggak, North Jakarta, will be relocated early next year, possibly to Rawamalang, Cilincing, in the city's east, an official said yesterday.

Govt plans education changes

Govt plans education changes JAKARTA (JP): The government is considering granting universities greater autonomy in financial management and allowing classes to be taught in English, an official from the Ministry of Education and Culture said here yesterday.

Where to go in Jakarta: Saturday, Oct. 25, 1997

Where to go in Jakarta: Saturday, Oct. 25, 1997Exhibitions * Ceramics Exhibition, Golekan at Bentara Budaya, Jl. Palmerah Selatan No. 17, Jakarta, 10 a.m. to 9 p.m., until Oct. 31. * Painting Exhibition: Hugo Von Pedersen (1870-1958), a Danish artist in Indonesia and Francois Brochet, a French...

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Oct. 24, 1997: ------------------------------------------------------- Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 900 0 0 AHAP Insurance 2,500 0 0 Alter Abadi 675 0 0...

CIDA chairman visits Dili

CIDA chairman visits Dili DILI, East Timor: Chairman of the Canadian International Development Agency (CIDA), Jorge Elizalde, is on a three-day visit to Dili for a project observation, Antara reported yesterday.

Rebels set bulldozer on fire

Rebels set bulldozer on fire DILI, East Timor: Members of the Fretilin separatist group set fire Wednesday to a bulldozer being used to construct a road in Matahori village in the East Timorese district of Viequeque, Antara reported.

Lifters to start training for Asiad next month

Lifters to start training for Asiad next month JAKARTA (JP): The 19th SEA Games ended just six days ago but the Indonesian Weight lifting, Power lifting and Bodybuilding Association is to start its national training center for the 13th Asian Games on Nov. 1.

TV Today: Saturday, Oct. 25, l997

TV Today: Saturday, Oct. 25, l997TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: The Crystal Maze 3:10 Music: Jenjang Vokal 3:35 Tour and Travel: Wisata Nasional 4:00 Regional News 4:30 Sports 5:30 TV Series: Full House 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country...

Public step up pressure to save Nasiroh

Public step up pressure to save Nasiroh JAKARTA (JP): The government is being urged to step up efforts to save the fate of maid Nasiroh Karmudin and begin laying out better legal protection for Indonesian workers in Saudi Arabia.

Group seeks to continue T. Jati A power project

Group seeks to continue T. Jati A power project JAKARTA (JP): PT Tanjung Jati Power Company has asked the government to allow it to continue its US$1.66 billion Tanjung Jati A power project in Jepara, Central Jakarta, the company said yesterday.

Sarwono wants environmental report

Sarwono wants environmental report MANADO, N. Sulawesi: State Minister of Environment Sarwono Kusumaatmadja has asked Governor E.E. Mangindaan for the completion of an environmental impact analysis prior to the development of a 350-hectare coastal reclamation project here.

United States reaps in China contracts

United States reaps in China contracts BEIJING (AFP): China's U.S.$4 billion buying mission to the United States has promised big wheat and aircraft contracts to chip away at the massive U.S. trade deficit, Xinhua reported yesterday.

A good beginning

A good beginning There can be no arguing that the task which Jakarta's new governor, Sutiyoso, has assigned himself to accomplish is a truly colossal one. Even before he was installed in his post, he promised in a meeting with reporters on Oct.

Austria helps local hospital

Austria helps local hospital PALEMBANG, South Sumatra: The Austrian government has over the past two years contributed Rp 18 million to the Palembang General Hospital in the form of sophisticated equipment and maintenance expenses.Antara quoted hospital director Dr. Masagus Johan T.

Amien, Habibie popular

Amien, Habibie popular YOGYAKARTA (JP): Moslem scholar Amien Rais, State Minister of Research and Technology B.J. Habibie, poet Emha Ainun Nadjib, Indonesian economist Soemitro Djojohadikusumo and politician Megawati Soekarnoputri share a common trait.

IMF moves closer to big Indonesia loan deal

IMF moves closer to big Indonesia loan deal WASHINGTON (Reuters): The International Monetary Fund (IMF) moved closer to a multi-billion dollar bailout for tiger economy Indonesia on Thursday and an IMF official said only a few details still needed to be sorted out.

Butterfly images recruited in war on AIDS

Butterfly images recruited in war on AIDS A heightened focus on preventive measures is on the agenda for the fourth International Congress on AIDS in Asia and the Pacific, opening today in Manila. Promising drug cocktails available in the West are still beyond the financial reach of the official...

U.S. keeps close eye on SE Asia developments

U.S. keeps close eye on SE Asia developments WASHINGTON (Reuters): The United States is keeping a close eye on the financial crisis in Southeast Asia and senior administration officials said on Thursday they were in constant touch with authorities throughout the region.A 10.

Indonesian car industry may go bankrupt

Indonesian car industry may go bankrupt JAKARTA (JP): Indonesia's automobile industry is now on the verge of bankruptcy due to the double blows from the sharp rupiah depreciation and the credit crunch, Herman Z. Latief, Chairman of the industry's association said yesterday.

Indonesian and Western cultures

Indonesian and Western cultures I would like to comment on the letter from Robert Walker You must have a concept of guilt (Oct. 22). His extremely offensive and presumptuous letter on "guilt" and "selfishness" made my hair stand on end (and that is quite an achievement as I am bald).

Lynch mob murder Tangerang man

Lynch mob murder Tangerang man JAKARTA (JP): A sand quarrying dispute allegedly led to the lynching of a man, who was beaten to death by at least 12 people at his house in Rancaserdang, Tangerang, Thursday night.

Novotel Yogya opens

Novotel Yogya opens YOGYAKARTA (JP): Four-star Novotel Hotel Yogyakarta held its soft opening yesterday. It is the Prima Suryagraha Perkasa Group's first property outside of Jakarta.The Rp 50 billion (US$13.

Amin wants poll on Soeharto's reelection

Amin wants poll on Soeharto's reelection JAKARTA (JP): Political observer Amien Rais has suggested a national poll to find out whether the majority of Indonesians really want to reelect President Soeharto.

Theater Ketjil returns with play on forest fires

Theater Ketjil returns with play on forest fires JAKARTA (JP): Thick haze from brush and forest fires has inspired Theater Ketjil, a theater group founded by the late Arifin C. Noer, to create a play which marks the group's comeback, after a long absence from theater performances.

Racel Paul to drive in GT Radial team

Racel Paul to drive in GT Radial team JAKARTA (JP): Canadian supercar racer Robert J. Paul will drive for the GT Radial team in the two-day supercar race at Sentul, near Bogor, starting today.The supercar race will be followed by the national Formula Asia race.

Cathay to increase flight frequency to SE Asia

Cathay to increase flight frequency to SE Asia HONG KONG (Reuters): Cathay Pacific Airways Ltd said it will increase its flights from Hong Kong to Jakarta, Kuala Lumpur, Singapore, Manila and Sydney in its new winter schedule.

Govt to get tough on forest burners

Govt to get tough on forest burners JAKARTA (JP): The government has once again vowed to be tough on forest burners, declaring that this time it would get "serious" by taking tough legal action.State Minister of Environment Sarwono Kusumaatmadja told reporters that the Environmental Impact...

Construction worker falls to his death

Construction worker falls to his death JAKARTA (JP): A construction worker died in hospital after falling from scaffolding on the 23rd floor of the Simprug Teras Apartment project in South Jakarta yesterday.The victim was identified as Sumarno, 42, a resident of Magetan, East Java.

Thousands of dogs to be slaughtered

Thousands of dogs to be slaughtered TANGERANG (JP): Tangerang regency will slaughter 8,171 stray dogs and vaccinate all pet dogs to prevent the spread of rabies in the area.Tangerang Regent Saifullah AR said yesterday that the 19,634 dogs -- including 8,171 stray dogs -- that live in the regency's...

RI needs good governance to cope with globalization

RI needs good governance to cope with globalization JAKARTA (JP): Indonesia needs good governance and effective bureaucracy to survive the globalization era which demands compliance with international rules of the game, says former cabinet minister Frans Seda.

Train passenger falls to death

Train passenger falls to death JAKARTA (JP): A student from Tamalatea Health Science Academy in Ujungpandang, South Sulawesi, died on the way to hospital yesterday after falling from a train at Gambir Railway Station in Central Jakarta.

Men arrested for swindling Telkom out of $6.3m

Men arrested for swindling Telkom out of $6.3m JAKARTA (JP): Police have arrested two businessmen for allegedly defrauding state-owned telecommunications company PT Telkom of Rp 22.7 billion (US$6.3 million).The head of the City Police corruption investigation unit, Lt. Col.

Social gaps: A ticking time bomb

Social gaps: A ticking time bombBy A. Wisnuhardana YOGYAKARTA (JP): World Bank President James Wolfensohn once likened the rich and poor gap to a time bomb which can explode any time unless a comprehensive solution is immediately forthcoming (The Jakarta Post, Sept. 24, 1997).

Timor car

Timor car The official national distributor of the Timor car would like to inform prospective buyers that some caution is warranted if one wishes to take advantage of our low prices offered for both the S-515 SOHC and the S-515i DOHC classes under special conditions.

Vendors protest at City Council

Vendors protest at City Council JAKARTA (JP): A group of vendors from Ratna market -- or Cokong market as it is more widely known due to its location on Jl. Haji Cokong, in South Jakarta -- asked the City Council yesterday to intervene in an eviction notice.

Man jailed for profane theft

Man jailed for profane theft JAKARTA (JP): Central Jakarta District Court sentenced an unemployed man yesterday to eight months in jail for stealing Rp 348,000 (US$96) from a mosque charity box.Presiding judge Paimin Martodiredjo said the defendant, Syarief Hidayat, 28, stole the money from...

Rupiah firm against dollar as stocks lose ground

Rupiah firm against dollar as stocks lose ground JAKARTA (JP): The Indonesian rupiah was firm against the U.S. dollar again, closing at 3,575/3,600 yesterday after it weakened to 3,640 in midday trading before Bank Indonesia stepped in to intervene.

Jakarta to host int'l telecom expo, meeting

Jakarta to host int'l telecom expo, meeting JAKARTA (JP): An international telecommunications exhibition, called Asia-Pacific Telecom '97, will be held from Nov. 29 to Dec. 3 at the Jakarta Fairgrounds in Kemayoran.

Conductor jailed for knife attack

Conductor jailed for knife attack JAKARTA (JP): Central Jakarta District Court sentenced a 23- year-old man to three months in jail yesterday for slashing a bus passenger's face with a knife.Presiding judge Dalil Ahmad said the defendant, Odan Siahaan, a bus conductor for a state-owned bus company,...

Monas gas station may operate

Monas gas station may operate JAKARTA (JP): Governor Sutiyoso decided yesterday to allow a gas station located in the National Monument (Monas) park in Central Jakarta to operate temporarily until the completion of an underground parking lot in the area.

Asian woes halt arms buying spree

Asian woes halt arms buying spreeBy Marcus Eliason HONG KONG (AP): The timing was unfortunate. On Aug. 10, Thailand became the first East Asian country to own and operate an aircraft carrier -- just as its economy was lurching into turmoil.

Political change can only be initiated from the top

Political change can only be initiated from the topBy Matias Sinaga SURABAYA (JP): In his address to Golkar last week, President Soeharto asked the ruling political grouping to find out whether the people really supported his renomination for the 1998/2003 presidential term.

Marsinah honored in monolog

Marsinah honored in monolog JAKARTA (JP): Ratna Sarumpaet, the head of Satu Merah Panggung theater group, is paying tribute to slain labor activist Marsinah in a monolog and new book.She will perform Marsinah Menggugat (Marsinah Accuses) at Taman Ismail Marzuki on Oct. 28.

Fishermen rescued after 90 days adrift

Fishermen rescued after 90 days adrift AUCKLAND (AFP): Six Indonesians, including a child, have been picked up after three months adrift on the central Pacific, the United States Coastguard said yesterday.

Drought will affect RI's rice production

Drought will affect RI's rice production JAKARTA (JP): The current drought plaguing Indonesia will bring down the country's rice production to just over 49 million tons from 51 million tons last year, Minister of Agriculture Sjarifudin Baharsjah said yesterday.

RP tightens forex rules

RP tightens forex rules MANILA (AFP): The Central Bank of the Philippines yesterday imposed tighter restrictions on banks' foreign exchange trading as part of a measure to counter speculation.Under the new rules, banks would have to inform the central bank within two banking days of the...

Christmas tree contest at Sogo

Christmas tree contest at Sogo JAKARTA (JP): Sogo Department Store will hold a Christmas tree decorating competition on Nov. 18 for the public with the theme, Christmas Tree East and West.There will be three categories in the contest: feminine, masculine and children nuances.

Hazy days for struggling Yogyakarta tourist industry

Hazy days for struggling Yogyakarta tourist industryBy Sri Wahyuni YOGYAKARTA (JP): "Java is haze-free".This is the message the Yogyakarta chapter of the Association of Indonesian Tour and Travel Agencies has been sending worldwide to counter the adverse effects of the haze that is threatening to...