Indonesian Political, Business & Finance News

Archive: 2 November 1997

27 articles found

The benefits of an AFTA-CER link

The benefits of an AFTA-CER link P.J. Lloyd explains the value of such a link and the form it should take. In 1993, the Asean Free Trade Area (AFTA) and Australia and New Zealand, two countries which have established a free trade area, known as the Closer Economic Relations Agreement or CER for short, established an informal link between these two free trade areas. This link has taken the form of annual meetings of their Trade Ministers.

Paradox of civil society in a reinvestment world

Paradox of civil society in a reinvestment world Demokrasi dan Civil Society (Democracy and Civil Society) By Mohammad A.S. Hikam LP3ES, Jakarta, 1996 xvi and 249 pages JAKARTA (JP): For historical reasons, the middle class is often assumed to be the pioneer and champion of sociopolitical reform. For some countries in Asia, including Indonesia, this assumption does not necessarily hold true. In Indonesia, the middle class often hinders the wheel of democracy.

Writing still a better way to send messages

Writing still a better way to send messages JAKARTA (JP): "I've just talked to the minister!" "Aw, c'mon, just change his diaper." "Put it in the frying pan and don't forget to add some salt." Those odd snatches of conversation were overheard in front of the rest rooms at Soekarno-Hatta International Airport; the first point where the owners of cellular phones can conveniently satisfy the urge to talk after a long flight.

Brawling music fans mar glitzy Super Group '97 in Jakarta

Brawling music fans mar glitzy Super Group '97 in Jakarta By Helly Minarti JAKARTA (JP): Super Group '97 was meant as a starting point to bring Indonesia's best rock groups together in one super gig. "We'd like to make this an annual event from now on," chief producer Eddy Susilo said before the concert. The venue last Saturday was the racing circuit-turned huge open lot at Ancol Dreamland.

Don't fight a master with his own game

Don't fight a master with his own game By Kristianus Liem JAKARTA (JP): From May 17 to May 29 a category 13 tournament was held to celebrate Grandmaster Miguel Najdorf's 87th birthday in Buenos Aires, Argentina. The field was very evenly matched, but in the end it was GM Emil Sutovsky and GM Ivan Morovic who emerged victorious with 6.5 match points from nine rounds.

Auspicious time for property investors

Auspicious time for property investors JAKARTA (JP): If investors have planting seasons like farmers, now and sometime next year should be the right time for those with extra money to plant their seeds in property. Property analyst Panangian Simanungkalit says this is the best time to invest in property, as the appreciation of the dollar and tight liquidity has forced many property companies to slash prices.

G15 ministers debate low attendance

G15 ministers debate low attendance KUALA LUMPUR (Reuters): The foreign ministers of the Group of 15 (G-15) developing nations gathered yesterday ahead of a summit meeting amid concern over low attendance and lack of influence over rich countries. The ministers were to take up a paper exploring whether G-15 leaders should meet less often and the developing nations should seek closer ties with the Group of Seven (G-7) industrialized nations.

Barli hails solace, tranquility of watercolors

Barli hails solace, tranquility of watercolors By Oei Eng Goan JAKARTA (JP): Most prolific artists believe that beauty is more than just in the eye of the beholder, it also has an inspiring drive to create artistic works that give solace and tranquility, benefiting all humankind.

A scoop may not be sinful for ice cream buffs

A scoop may not be sinful for ice cream buffs By Yogita Tahil Ramani JAKARTA (JP): Vanilla, strawberry, cookies n' cream, rocky road, pistachio, even durian -- almost all of us have a preference when it comes to the sweet taste of delicious ice cream. The dish has tickled the taste buds of leaders throughout history.

Anonymous

Anonymous Who plants the paddy with which this country, once a rice importer, has become self supporting in staple food? Who pushes your fishing boats to sail through the storms to catch fish for you? Who runs sugar cane plantations that guarantee a sugar supply for the nation? Who deposits money in banks so that you and richer people can get credit from the banks?

Black People

Black People By Sori Siregar With their disheveled colors of brown and reddish yellow, the fallen leaves along Suitland Parkway heralded the coming of fall. Sooner or later, trees in the woods fencing a hidden skyline would have their leaves fall one by one, and apartments dotting the street would come in to clear view. Iftikar stopped his car and took photos of leaves glinting in the sun. After aiming the lens at different angles, he looked around him, transfixed.

Property stung by monetary woes

Property stung by monetary woes Property has a dubious distinction as one of the first economic sectors to be badly battered by the currency crisis. The Jakarta Post reporters -- Budiman Moerdijat, Devi M. Asmarani, Dwi Atmanta, Edith Hartanto, IGN Oka Budhi Yogiswara and Stevie Emilia -- look at the shell-shocked sector. Related stories appear on Page 2, 3 and 9.

New pilots earn their wings in teaching courses

New pilots earn their wings in teaching courses Text and photos by K. Basrie JAKARTA (JP): "Working as a flying instructor earns me less money than piloting a commercial airliner," says assistant flight instructor Yasir Ariansyah. "But teaching gives me greater satisfaction. That's why I chose this profession." He is one of seven new assistant flight instructors graduated from the privately run Deraya Flying School.

Interest rate hikes from the weakening rupiah pain everyone

Interest rate hikes from the weakening rupiah pain everyone By Devi M. Asmarani JAKARTA (JP): An unsubstantiated rumor has it that the currency turmoil claimed the life of a private bank director here. The director reportedly had a heard attack after realizing he could no longer repay a highly inflated loan. Apparently, he had taken a substantial short-term loan to invest in the stock market and property.

Guess What?

Guess What? Scanning art exhibitions for new works for her private collection is a routine for businesswoman Rosita Syofian Noer. When visiting ceramic artist F. Widayanto's exhibition at the Bentara Budaya building in Central Jakarta last week, she could not resist temptation to purchase the artist's latest works of three-dimensional ceramic puppet figures, Golekan.

Rupiah rides rocky road over time

Rupiah rides rocky road over time By Edith Hartanto JAKARTA (JP): Since it became the accepted legal tender in Indonesia 51 years ago, the rupiah has had its share of troubles. The overall trend has always been downward. The rupiah's value has fallen so low at times that the government has had to step in to cut the nominal value. Add to this various drastic devaluations of the currency, and continuing depreciation, and the overall picture is not glowing.

People powerless under currency crisis

People powerless under currency crisis JAKARTA (JP): The plunge in the rupiah value and skyrocketing interest rates are hurting the lives of many people and hindering business activities. The Jakarta Post interviewed people from different walks of life on how they have been affected, and how they are coping.

Property analyst warns of tougher times

Property analyst warns of tougher times By Stevie Emilia JAKARTA (JP): Panangian Simanungkalit predicted as long ago as 1991 that the local property sector would collapse. His prediction, which went largely ignored, has proven correct this year. He was off on the timing, though, forecasting it would happen in 2001. A property analyst by profession, 37-year-old Panangian says a collapse was bound to happen on the back of the huge glut and mounting number of offshore debts of developers.

Meanings and motifs of the 'ikat' weavings of NTT

Meanings and motifs of the 'ikat' weavings of NTT By Emilie Sueur JAKARTA (JP): NTT, three letters which stand for Nusa Tenggara Timur, the southeastern part of Indonesia, but also, as Jes A. Therik, governor of NTT and specialist in ikat designs subtly notices, three letters for Nusa Tenun Tangan, "The Land of Hand- woven Textiles". One of the major weaving techniques in the southeastern part of the archipelago is ikat, a name which comes from an Indonesian word which means tying.

Masters Upi and Maria invited to Holland, Spain

Masters Upi and Maria invited to Holland, Spain JAKARTA (JP): Two Indonesian Women International Masters, Upi Darmayana Tamin and Maria Lucia Ratna, have been invited to compete in three chess competitions in the Netherlands and Spain in December and January 1998. The Indonesian Chess Association's secretary-general, Djamil Djamal, said Friday that Upi and Maria would compete in the 36th annual chess tournament in Groningen, the Netherlands, from Dec. 19 to Dec. 30.

Govt shuts 16 banks in first reform move

Govt shuts 16 banks in first reform move JAKARTA (JP): The government closed 16 ailing private banks yesterday as part of the International Monetary Fund's reform package to restore confidence in the country's economy. The government assured that small depositors -- those who have less than Rp 20 million -- would be reimbursed of their funds from one of the state banks.

Tennis body backs up junior stars

Tennis body backs up junior stars JAKARTA (JP): Indonesian Tennis Association (PELTI) official Benny Mailili believes national junior players deserve the chance to perform in major events such as the Asian Games and the Olympics. "We have junior players who performed outstandingly in the recent SEA Games. We still have 13 months to prepare them for the 13th Asian Games in Bangkok next year," he said Friday.

Tempest over tradition in take on shadow plays

Tempest over tradition in take on shadow plays Text and photos by Ahmad Solikhan YOGYAKARTA (JP): Halogen spotlights bathe the stage of the shadow play in dark violet light. Four dancers cavort seductively as gamelan music plays in the background. More befitting a disco, the scene breaks the staid rules of classic wayang performances. The creator of this performance, 71-year-old Sukasman, insists that this is traditional wayang -- performed by actors and puppets -- merely brought up to date.

Big auction of Asmat woodcarving bodes well

Big auction of Asmat woodcarving bodes well By Gus Kairupan JAKARTA (JP): "Going once..., going twice...", followed by a deafening roar in unison accompanied by stomping of, say, a hundred feet (that's 50 people at a conservative guess) and a storm of applause... "SOLD!" The artist steps forward with the item for which bidding had gone up to Rp 1.5 million.

Agenda for the Asean Regional Forum

Agenda for the Asean Regional Forum By Dr Harry Harding Unless the ARF can move to a higher stage of development, it may lose the support it currently enjoys in the United States, says Harry Harding. The Asean Regional Forum (ARF) has achieved remarkable progress in a short space of time. It took only about five years for the first proposals for an official multilateral security dialogue in the Asia-Pacific region to be realized in the form of the ARF.

Watch display revisits era of timeless elegance

Watch display revisits era of timeless elegance By Yogita Tahil Ramani JAKARTA (JP): Time seems cradled in showcases, with straps of hand-sewn crocodile skin and soft leather on gleaming gold, jewel and diamond-encrusted watches in no way compromise timing. Although a watch exhibition at the Financial Club at Niaga Tower does not boast the industry's most celebrated names like Patek Philippe, Vacheron Constantin, Piaget and Audemars Piguet, each timepiece is still a true solitaire for the wrist.

Guess What?

Guess What? Rather than nursing her wounds, actress-cum-film producer Marissa Haque decided to put out flames raised over her controversial teleseries Di Bawah Purnama Aku Berdoa (I Pray Under a Full Moon) by letting her work speak for itself. The founder of the TV production house PT Rana Artha Mulia (RAM), Marissa recently completed shooting Kembang Selatan, the first Indonesian teleseries to be shot in Beijing.