Indonesian Political, Business & Finance News

Archive: 27 November 1997

55 articles found

APEC's confidence boost

APEC's confidence boost The fifth summit of Asia Pacific Economic Cooperation (APEC) leaders in Vancouver produced much more than most analysts expected, given the economic backrdrop of the financial crisis blighting its Asian members.

APEC leaders vow to settle crisis

APEC leaders vow to settle crisisBy Meidyatama Suryodiningrat and Kornelius Purba VANCOUVER, Canada (JP): Leaders of the Asia Pacific Economic Cooperation (APEC) ended their meeting Tuesday with a strong united message of confidence and commitment to do whatever it takes to overcome the financial...

TV programs

TV programsTodayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: Adventure of Pinochio 3:10 Science Film: Animal Odyssey 3:35 Religious Teachings: Islam 4:00 Regional News 4:30 Flora: Pesona Hutan Alam Bogor 5:00 Arabic Lessons 5:30 Children's Drama: Maafkan Dong 6:00 News: Lintasan...

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Painting Exhibition: The Southern Charm by Katrina Bohan- Tyrie, at Galeri Linggar, Jl. Kemang Timur No. 36, South Jakarta, 10 a.m. to 10 p.m., until Dec. 7. * Painting Exhibition: By Yaqub Elka at Kedai Cakep, Gelanggang Remaja Bulungan, Jl.

Chang, Chawalit take early lead in Tugu Pratama

Chang, Chawalit take early lead in Tugu Pratama JAKARTA (JP): Chang Tse-Peng of Chinese Taipei and Thailand's Chawalit Plaphol, the first-round leader last week on the Omega Tour, share the lead after the first day of the US$300,000 Tugu Pratama PGA Championship 1997 on six-under-par 66 yesterday.

City police closing in on baby dumpers

City police closing in on baby dumpers JAKARTA (JP): Police disclosed yesterday that they were making progress in their pursuit of those involved in last week's dumping of aborted fetuses and dead babies in North Jakarta.

Indomobil's profit adjusted

Indomobil's profit adjusted JAKARTA (JP): Auto firm PT Indomobil Investment Corporation said yesterday that its net profit had dropped Rp 2.4 billion (about US$666,000), in the three months to September, to Rp 112.4 billion from Rp 114.8 billion last June.

Seven questioned over Jamsostek funds scandal

Seven questioned over Jamsostek funds scandal JAKARTA (JP): The Jakarta Provincial Prosecutor's office questioned yesterday seven people in connection with the alleged misuse of billions of rupiah of the state-owned insurance company PT Jamsostek.

Fire leaves 300 homeless

Fire leaves 300 homeless JAKARTA (JP): A fire gutted 100 houses in the densely- populated area of Taman Sari in West Jakarta yesterday afternoon, leaving 300 people homeless.There were no fatalities reported.Locals estimated a total material loss as high as Rp 600 million (US$164,835).

House studies possibility of amending postal law

House studies possibility of amending postal law JAKARTA (JP): The House of Representatives is studying the possibility of amending the country's postal law in order to allow private companies to perform postal services.

Apartments to recast Bongkaran's seedy image

Apartments to recast Bongkaran's seedy image JAKARTA (JP): The city municipality unveiled its plan yesterday to convert the Bongkaran red-light district in Tanah Abang into a low-cost apartment complex surrounded by green areas.

NGO urges government to take lead in UN climate parley

NGO urges government to take lead in UN climate parley JAKARTA (JP): Environmentalists called on the government yesterday to lead the campaign to reduce world greenhouse gas emissions in the United Nations meeting on climate change next week in Kyoto, Japan.

Stock market expected to recover next year

Stock market expected to recover next year JAKARTA (JP): The ailing domestic stock market is expected to recover only in the second semester of next year as big investors still need more time to enter the market, according to a market executive.

Putu Rai new army spokesman

Putu Rai new army spokesman JAKARTA (JP): Col. I Dewa Putu Rai was installed as the Army headquarters' new spokesman yesterday, replacing Brig. Gen. Robik Mukav.Mukav has been given an administrative position at the Armed Forces headquarters.

Where to go in Bali:

Where to go in Bali:Music and entertainment * Bali Inter. Continental Resort, Jimbaran: - Singaraja Restaurant: Mini Balinese Jegog, daily, 6:30 p.m. to 10 p.m. - Saraswati Lounge: Balinese Cultural Dances, daily except Thursday and Sunday.

Indonesia buys 300,000 tons of Thai rice

Indonesia buys 300,000 tons of Thai rice BANGKOK (Reuters): Indonesia has bought 300,000 tons of Thai rice for nearby shipment with loading under way, trade sources said yesterday.The purchases were of mostly 15 and 25 percent grade but price details were not available, they told Reuters.

Cover photos a key to 'STERN' success

Cover photos a key to 'STERN' successBy Maria Sandra JAKARTA (JP): A group of scavengers busily pick through a mound of garbage in East Jakarta. Nearby, children in worn-out clothes play in a large garbage container.Around them are makeshift houses made of panels of woven bamboo.

30 million to go home for Idul Fitri

30 million to go home for Idul Fitri SAMARINDA, East Kalimantan: Minister of Transportation Haryanto Dhanutirto said here yesterday approximately 30 million people will travel home over the Idul Fitri holiday in January and related institutions should be prepared for the exodus.

Riot suspect sent to jail

Riot suspect sent to jail TASIKMALAYA, West Java: Abdul Muis bin Makun, 23, was sentenced to two years in prison Tuesday for instigating a riot here last December, Antara reported yesterday.Chief Judge Zaharuddin Yusuf said Abdul Muis was guilty of subversion, namely perpetrating the riot in...

21 sports bodies give Asiad plans

21 sports bodies give Asiad plans JAKARTA (JP): Twenty-one sports organizations have submitted proposals for their participation in the 13th Asian Games in Bangkok next December to the National Sports Council task force.

Clarification needed

Clarification needed The improper use of Rp 7.1 billion (Rp 3.1 billion according to the director general of PT Jamsostek) of Jamsostek workers' social security funds has become a topic of widespread public discussion.

Most OPEC members back quota increase

Most OPEC members back quota increase JAKARTA (JP): The majority of the Organization of Petroleum Exporting Countries (OPEC) member countries support the proposal to increase output quotas, Minister of Mines and Energy I.B. Sudjana told reporters yesterday.

Experts, activist at loggerheads over abortion

Experts, activist at loggerheads over abortion JAKARTA (JP): A doctor, a lawyer, a religious activist and a police officer have entered the public debate on the moral and legal aspects of abortion.The Jakarta Post contacted them yesterday following the discovery last week of 11 babies and fetuses...

Argo Lawu

Argo LawuFrom KompasTravelers are grateful to the state railway company (PERUMKA) that has lately introduced new trains with improved services. They are the Argo Bromo (Jakarta-Surabaya route), Argo Gede (Jakarta-Bandung route) and Argo Lawu (Jakarta-Solo route).When taking the Argo Lawu on Oct.

Building must be torn down: Court

Building must be torn down: Court BOGOR (JP): The Supreme Court has ordered the immediate demolition of a three-story building on Jl. Baru-Kedungbadak in Tanah Sareal and upheld a Bogor resident's claim that it was erected illegally.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 26, 1997: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 850 -75 16,500 AHAP Insurance 600 -325 67,000 Alter Abadi 500 -75 100,000 Alumindo Light Metal 350 -25...

Lautan's profit rises 38%

Lautan's profit rises 38% JAKARTA (JP): Publicly listed PT Lautan Luas, a specialty chemical distributor, recorded a 38 percent increase in net profit to Rp 9.2 billion (US$2.55 million) in the first nine months this year from about Rp 6.8 billion over the same period last year.

Indofood loses Rp 456b from rupiah depreciation

Indofood loses Rp 456b from rupiah depreciation JAKARTA (JP): Publicly listed PT Indofood Sukses Makmur (ISM), a unit of the widely-diversified Salim Group, reported yesterday a net loss of Rp 456 billion (US$126.66 million) in the first nine months of 1997 caused by foreign exchange losses.

Levi's to launch major commercial

Levi's to launch major commercial JAKARTA (JP): The Levi Strauss Asia-Pacific division will launch Monday its own tailored commercial package in Indonesia for 501 jeans.Kiki Rizki, the marketing executive of Levi Strauss Indonesia, said yesterday that the one-month campaign, with a school theme,...

Customer (Dis)service

Customer (Dis)service Recent readers' letters in The Jakarta Post prompted me to write this letter. You can add me to the surely long list of unhappy souls who naively expect good customer service when dealing with large, high-profile companies here in Indonesia.

Different exchange rate

Different exchange rate I recently visited Indonesia and on arrival at Soekarno-Hatta International Airport, I went to PT Artha Modern Center, an authorized money changer in the arrival hall.I wanted to change sterling traveler checks and the rate I was given was Rp 4,000 to one pound sterling.

Healthy competition vital for growth: Experts

Healthy competition vital for growth: Experts JAKARTA (JP): Indonesia needs to complement its very strong commitment to development with a pricing policy and healthy competition to sustain high economic growth for the next 30 years, an expert said.

Three governor candidates approved

Three governor candidates approved PADANG, West Sumatra: President Soeharto, through Minister of Home Affairs Moch. Yogie S.M., has approved West Sumatra Vice Governor Brig. Gen. Muchlis Ibrahim's nomination for the 1997/2002 governorship, it was announced here Tuesday.

Airline reports fewer Indonesian passengers

Airline reports fewer Indonesian passengers JAKARTA (JP): The United Arab Emirates' carrier, Emirates, has seen fewer passengers on its Indonesian service due to the currency upheaval in the Asian region.

'Benefit of the doubt' for RI's economy

'Benefit of the doubt' for RI's economyBy Laksamana Sukardi The following article is based on a paper presented at a "power breakfast" meeting organized by the International Advertising Association at the Hilton Executive Club on Nov. 21, 1997 in Jakarta. This is the first of two articles.

Japan to help stop oil spills

Japan to help stop oil spills UJUNGPANDANG, South Sulawesi: Japan is eager to assist in efforts to stop oil spills and pollution in the Makassar Straits caused by ship accidents, Antara reported."The Makassar Straits is an alternate route for Japanese tankers to transport oil from Saudi Arabia," a...

Indocement's forex loss

Indocement's forex loss JAKARTA (JP): Shareholders of publicly listed PT Indocement Tunggal Prakarsa agreed to allocate an allowance of Rp 423.5 billion for an extraordinary foreign exchange loss during this year's first nine months, the company said yesterday.

More hostels needed

More hostels needed JAKARTA: More hostels and inexpensive domestic travel schemes for youths are needed to encourage them to travel more throughout the country, a cabinet minister said yesterday."The government is making efforts to establish the schemes," State Minister of Youth Affairs and Sports...

Where to go in Surabaya:

Where to go in Surabaya:Music and Entertainment * Ibis Rajawali Hotel, Jl. Rajawali 11-9: - Yudhistira Bar, at 7 p.m. to 10 p.m.: George T. (Pianist), Saturday, Sunday, Monday. Duo Erna and Robin, Tuesday. Q'Sera Band, Friday. * Garden Palace Hotel, Jl.

PPP steadfast in rejecting extra presidential power

PPP steadfast in rejecting extra presidential power JAKARTA (JP): The minority United Development Party (PPP) bought more time yesterday with its rejection of the motion to give the next president extra power, forcing the People's Consultative Assembly (MPR) to delay its decision on the draft.

Foundation trains local traders

Foundation trains local traders BEKASI (JP): The Indonesian Skills Foundation, a joint Australian-Indonesian organization, is holding a three-day training course for 45 small-scale merchants of Cikarang Baru market, in Bekasi.

90 buildings damaged in quake

90 buildings damaged in quake GORONTALO, North Sulawesi: At least 90 houses, mosques and office buildings in Paguyaman and Kwandang subdistricts, Gorontalo regency, were damaged by an earthquake late Tuesday which measured 6.8 on the Richter scale.

Peru, Russia, Vietnam accepted into APEC

Peru, Russia, Vietnam accepted into APECBy Meidyatama Suryodiningrat VANCOUVER, Canada (JP): Peru, Russia and Vietnam were accepted Tuesday as new members of the Asia Pacific Economic Cooperation (APEC), the last economies to join before the forum slaps a 10- year moratorium on membership.

Hino enters Vietnam

Hino enters Vietnam HANOI (AFP): A joint venture to produce heavy trucks, involving Japan's Hino Motors, Sumitomo Corp. and the Vietnamese ministry of transportation, has been officially opened, a Hino executive said yesterday.The company, Hino Motors Vietnam, is a US$8.

Vietnam coffee shines on tight Indonesian supply

Vietnam coffee shines on tight Indonesian supply SINGAPORE (Reuters): The dry spell haunting Indonesia's coffee belt gave way to intermittent rains recently but supplies remained tight, giving Vietnam's coffee prices a boost, dealers said on Wednesday."Vietnam's supply is in full swing.

Three teenagers tried for killing housemaid

Three teenagers tried for killing housemaid JAKARTA (JP): Three teenagers were indicted at the Central Jakarta District Court yesterday of killing a housemaid and robbing jewelry worth Rp 3.5 million (US$972) allegedly to fund their recreation in Bali.

Talk on economic crisis

Talk on economic crisis It is inevitable, but a pity nonetheless, that the discussions between world leaders which annually precede the formal start of Asia-Pacific Economic Cooperation (APEC) summits do not provide enough time to produce a joint approach to some of the crippling economic problems...

Ex-Thai premier to quit leadership

Ex-Thai premier to quit leadership BANGKOK (Reuters): Former Thai premier Chavalit Yongchaiyudh will give up next month the leadership of the New Aspiration Party (NAP) he founded, and may retire from politics in the near future, party officials said yesterday.

Asahi to join in ammonia project

Asahi to join in ammonia project JAKARTA (JP): Asahi Chemical Co. Ltd. of Japan will join PT Kaltim Parna Industri, a joint venture between two Indonesian companies and Mitsubishi Corporation, to build a US$240 million ammonia plant in Bontang, East Kalimantan.

Southeast Asian Games consortium to submit audited report next month

Southeast Asian Games consortium to submit audited report next month JAKARTA (JP): The 19th SEA Games consortium hopes to submit its audited financial report by the end of next month.The Games organizers' budget and promotion deputy, Enggartiasto Lukita, said yesterday that accountants were still...

Kempinski to open soon

Kempinski to open soon JAKARTA (JP): German hotel management company Kempinski will open its first Indonesian property, the Kempinski Hotel and Apartments Jakarta, next year.The five-star Kempinski Jakarta is a 36-story tower offering hotel-apartment accommodation which was developed by PT Prima...

RI has not drawn on S'pore aid

RI has not drawn on S'pore aid SINGAPORE (Reuters): Indonesia has not asked to draw on the US$5 billion aid offered by Singapore, deputy prime minister Lee Hsien Loong said yesterday."They have not asked for it yet," Lee said in reply to a question on whether Indonesia had drawn on the fund offered...

Matahari buys 5 percent of Hero

Matahari buys 5 percent of Hero JAKARTA (JP): Retail firm PT Matahari Putra Prima announced yesterday that it had bought 5.01 percent of PT Hero Supermarket's shares.Matahari president Hengky Tjitra said in a statement that the company could buy more of Hero's shares in the near future to increase...

Bank ratings needed to protect depositors

Bank ratings needed to protect depositors JAKARTA (JP): An economist called yesterday for the introduction of bank rating agencies to help consumers assess the health of the country's banks.The president of the Indonesian Business Data Center, Christianto Wibisono, said bank ratings would enable...

Indonesian officers arrested for breaching peace

Indonesian officers arrested for breaching peaceBy Meidyatama Suryodiningrat VANCOUVER, Canada (JP): Two security officers from the Indonesian delegation attending the Asia Pacific Economic Cooperation (APEC) forum here were arrested and stripped of their APEC accreditation Tuesday for breach of...