Indonesian Political, Business & Finance News

Archive: 5 November 1997

57 articles found

Filipino aims to play in NBA

Filipino aims to play in NBA MANILA (AFP): Filipino point guard Johnny Abarrientos hopes to become the first Asian to play in the National Basketball Association (NBA) after impressing a scout for the Charlotte Hornets, a newspaper reported yesterday.Abarrientos, 1.

Clean water almost depleted

Clean water almost depleted BALIKPAPAN, Central Kalimantan: The long drought has almost depleted the local state-owned water company's supply at Manggar Dam and residents here could be out of clean water within 20 days.

China concerned by SE Asian chaos

China concerned by SE Asian chaos BEIJING (Reuters): China is concerned about Southeast Asia's financial crisis but thinks it is temporary, a foreign ministry spokesman said yesterday.But the spokesman, Tang Guoqiang, declined to say whether China would provide financial support to Indonesia.

Ansett offers discounts

Ansett offers discounts JAKARTA (JP): Ansett Australia airline is offering a special fare of US$350 for travelers for a round trip from Jakarta to Sydney and US$550 to New Zealand and back flying Ansett and Air New Zealand for the whole of November.

Central banks' action eases Indonesian crisis

Central banks' action eases Indonesian crisis TOKYO (Reuters): Concerted intervention by Asian monetary authorities may help ease currency jitters in Indonesia but problems such as its external debt remain to be cleared up in the longer term, Asian currency dealers say.

Australia sends large mission to mining expo

Australia sends large mission to mining expo JAKARTA (JP): More than 100 Australian companies will take part in the Indonesian Mining '97 exhibition at the Kemayoran Fairgrounds, Central Jakarta, making the country the largest foreign participant at the exhibition.

KONI told to hurry its Games budget

KONI told to hurry its Games budget JAKARTA (JP): State Minister of Youth Affairs and Sports Hayono Isman urged the National Sports Council yesterday to report on its preparations for the 13th Asian Games in Bangkok as soon as possible.

'RI first to escape from crisis'

'RI first to escape from crisis' JAKARTA (JP): Indonesia is set to escape the regional currency crisis first due to the massive bailout package sponsored by the International Monetary Fund (IMF), according to a Morgan Stanley senior economist.Timothy J.

Chicken pox hits Central Java

Chicken pox hits Central Java SEMARANG, Central Java: An outbreak of chicken pox has infected hundreds of children and teenagers in two districts, Bulu and Parakan, in Temanggung regency.The head of the local health ministry's office, M.

Maan's lucky 67 comes up trumps again, in Batam

Maan's lucky 67 comes up trumps again, in Batam BATAM, Riau (JP): Maan Naasim from Sawangan Golf Club in southern Jakarta took a two-shot opening-round lead in the US$50,000 Tering Bay Open Golf Championship with a 5-under 67 (34 33) here yesterday.

The Netherlands to help city mature

The Netherlands to help city mature JAKARTA (JP): The Netherlands Ministry of Housing, City Planning and the Environment and the Jakarta administration are to launch a joint program to enhance Jakarta's development, an official said yesterday.

Woman killed by train

Woman killed by train JAKARTA (JP): A 30-year-old housewife was killed yesterday in East Jakarta when she was hit by a train plying the Jatinegara- Bekasi route, her husband said.Endang Abidin said that his wife, Esih, had not apparently noticed the oncoming train as she climbed through a broken...

G-15 turns balancing act on crisis

G-15 turns balancing act on crisisBy Nelson Graves KUALA LUMPUR (Reuters): The Group of 15 (G-15) developing countries has executed a diplomatic balancing act with a statement that weighs deep concern over financial instability with a reluctance to write rules that could hamstring markets.

Hyundai plans manpower cuts

Hyundai plans manpower cuts SEOUL (AFP): South Korea's largest auto manufacturer, Hyundai Motor Co., plans to reduce its labor force by 5,000 workers by the year 2000, press reports said yesterday.The cuts, designed to trim the company payroll from 45,000 to 40,000, will be made across the board,...

Indonesian financial crisis

Indonesian financial crisis The overload of opinions, comment and criticisms from sources both inside and outside Indonesia concerning the uncontrolled nosedive of the rupiah, can be summarized simply and considered logically rather than emotionally.

Museums open joint exhibition

Museums open joint exhibition YOGYAKARTA: The director general of culture of the Ministry of Education and Culture, Edi Sedyawati, officially opened a joint exhibition of 25 local museums at the Benteng Museum of Yogyakarta yesterday.

Governor to start slum modernization

Governor to start slum modernization JAKARTA (JP): Governor Sutiyoso is scheduled to launch a slum modernization program with a visit to the Ciliwung riverbanks in East Jakarta on Friday, an official said.

Sumatran tiger numbers decline

Sumatran tiger numbers decline BANDA ACEH, Aceh: The number of Sumatran tigers in Aceh is continuing to sharply decline despite the animal being high on the list of protected species.The head of the Dista Aceh Conservation, Bambang Suprayogi, said the number had dropped from 800 to 500 tigers in...

SE Asian currencies gain, baht cheers up

SE Asian currencies gain, baht cheers up SINGAPORE (Reuters): The Thai baht greeted Prime Minister Chavalit Yongchaiyudh's promise to resign with gusto yesterday, bringing cheer to most Southeast Asian currencies.

IMF, ADB and WB to support Asian monetary fund

IMF, ADB and WB to support Asian monetary fund MANILA (AFP): International financial institutions have expressed support for a proposed Asian monetary fund to cushion crisis-ridden regional economies, despite earlier reservations, a Philippine official said yesterday.

Asian refineries face critical winter season

Asian refineries face critical winter season SINGAPORE (Reuters): Singapore refiners, entering the most critical winter season for years, are braced for more bearish news in the wake of the regional economic crash, analysts and industry sources said.

Public asked to remain calm over liquidation

Public asked to remain calm over liquidation JAKARTA (JP): Vice President Try Sutrisno called yesterday for the public to remain calm and not to make unfounded comments about the economic situation which could result in unrest.

Local nurses called on to increase level of care

Local nurses called on to increase level of care JAKARTA (JP): Nurses should improve the quality of their care and become more professional in their daily service, a senior nurse said yesterday.Ratna Sitorus Sudarsono, a teacher at the University of Indonesia's school of nursing, said that there...

Police await judges' decision on Udin's murder trial

Police await judges' decision on Udin's murder trial JAKARTA (JP): Police have not conceded that the trial of Dwi Sumadji for the murder of Bernas daily journalist Fuad Muhammad Syafrudin is over despite prosecutors dropping their case against him for lack of evidence.

Rupiah stabilizes against dollar as stocks lose ground

Rupiah stabilizes against dollar as stocks lose ground JAKARTA (JP): The rupiah continued to stabilize against the U.S. dollar yesterday to close at 3,250/70 in comparison to the opening of 3,200/30 in the morning session after Bank Indonesia, the central bank, stepped in the market several times.

City to fine Hotel Mulia if second tower erected

City to fine Hotel Mulia if second tower erected JAKARTA (JP): Construction work on the Hotel Mulia Senayan's second tower is likely to be delayed due to the current monetary crisis, a hotel representative said yesterday.

Anti-narcotics campaign

Anti-narcotics campaign JAKARTA (JP): The Bersama antidrug non-governmental organization is scheduled to launch an anti-narcotics campaign in Jakarta from Dec. 1 to Dec. 20.Bersama's chairman Putera Astaman reported Monday, after meeting with Governor Sutiyoso, that the campaign is to be called...

Declaration drafted on human responsibilities

Declaration drafted on human responsibilities JAKARTA (JP): The InterAction Council, comprising former international political leaders, is to propose a declaration of human responsibilities to the United Nations next year.

S'pore hikes levy on foreign workers

S'pore hikes levy on foreign workers SINGAPORE (AFP): Singapore moved yesterday to regulate demand for unskilled foreign workers and domestic helpers by announcing an increase next year in levies paid by employers.

Meekatharra enters RI

Meekatharra enters RI MELBOURNE (Reuters): Meekatharra Minerals Ltd said on Tuesday its subsidiary MM Gold Pty Ltd and joint venture partner Teck Corp signed option agreements to acquire a majority interest in two contracts of work in Indonesia's "Trans Borneo Gold Belt.

Kaltim Prima Coal plans to list shares on JSX

Kaltim Prima Coal plans to list shares on JSX JAKARTA (JP): PT Kaltim Prima Coal (KPC) coal mining company announced yesterday it would float part of its shares on the Jakarta Stock Exchange next year.Company vice president S.

Bank Jakarta defies govt's closure order

Bank Jakarta defies govt's closure order JAKARTA (JP): Probosutedjo, half-brother of President Soeharto and owner of Bank Jakarta, kept his bank open yesterday, ignoring the government's closure order.The bank said yesterday it had begun to repay customers up to Rp 2 million from ordinary savings...

'Linda' kills 130, leaves hundreds missing in Vietnam

'Linda' kills 130, leaves hundreds missing in Vietnam HANOI (Reuters): At least 130 people were killed and hundreds of fishermen missing after a typhoon lashed Vietnam's southern coast, provincial officials said yesterday.

Bumi Modern to raise Rp 297b from right issue

Bumi Modern to raise Rp 297b from right issue JAKARTA (JP): Publicly listed PT Bumi Modern, which manages the five-star Hyatt Regency hotel in Surabaya, East Java, will issue one-for-three right shares in December this year to strengthen its operation.

Koja residents get water donation

Koja residents get water donation JAKARTA (JP): The residents Koja district in North Jakarta have been given 10 tankers of water from the Krida Wanita Swadiri Indonesia organization.The donation was handed over Monday by Tatty Oetojo Oesman of the organization to the Koja district head, Jurthoni.

Spotlight

SpotlightPhoto A: VisitSheraton BandaraROYAL VISIT: Philip Riley, general manager of the Sheraton Bandara Hotel, (right) escorts Her Royal Highness Rahma El Hassan of Jordan. She paid an unofficial visit here last week before departing for Singapore.

Marks and Spencer targets Asia in global expansion

Marks and Spencer targets Asia in global expansion LONDON (AFP): The British retail giant, Marks and Spencer, is to launch an aggressive push in Asia as part of an ambitious global expansion plan costing 2.1 billion pounds (US$3.53 billion) which was unveiled yesterday.

In search of tranquility, intimacy at Kafe Galeri

In search of tranquility, intimacy at Kafe Galeri Starting with its self-explanatory name, Kafe Galeri is an unusual cafe, offering a touch of culture to the R&R concept that, alas, hasn't yet become a norm here.

Trader finds body of minivan worker

Trader finds body of minivan worker JAKARTA (JP): An assistant to a minivan driver was found dead with severe head wounds at Tebet market in South Jakarta early yesterday.The victim, identified as Jhoni Situmorang, 25, was believed to have been killed from blunt weapons, said Chief Sergeant Yoseph...

Flash floods kill two

Flash floods kill two MEDAN, North Sumatra: Two people drowned and another was still missing when flash floods hit four residential areas in the Binjai mayoralty early yesterday morning.The flood was brought on by a sudden overflow in the Bingei river affecting the Bumi Berngam Baru settlement,...

PPP calls for greater House control in budget

PPP calls for greater House control in budget JAKARTA (JP): The United Development Party (PPP) suggested yesterday that the People's Consultative Assembly (MPR) empower the House of Representatives to control state expenditures.

Econit predicts economic recovery to take a year

Econit predicts economic recovery to take a year JAKARTA (JP): The Econit Advisory Group estimates that Indonesia's crisis-plagued economy will take at least a year to recover despite the IMF-led bailout package.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: Big Brother Jake 3:10 Indonesian Childrens 3:35 Talk Show: Kotak Pos 4:00 Regional News 4:30 Education Quiz: Cepat Tepat 5:10 TV Series: Road to Avonlea 5:55 Music 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country...

APEC to agree on currency stability

APEC to agree on currency stability TOKYO (AFP): An APEC leaders' declaration, to be adopted at an upcoming meeting in Canada, is likely to include an agreement to work for stable Asian currencies, a report said yesterday.

Police, Army raids to rid Tanah Abang of market thugs

Police, Army raids to rid Tanah Abang of market thugs JAKARTA (JP): The Central Jakarta military district commander, Lt. Col. Moeldoko, has followed Mayor Andi Subur Abdullah's pledge to stage massive raids in the crowded Tanah Abang market area to get rid of hoodlums.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Photo Exhibition: Kesaksian Abadi by Hilmar Pabel, at Galeri Foto Jurnalistik Antara, Jl. Antara No. 59 Pasar Baru, Central Jakarta, daily except Monday, 11:30 a.m. to 7:30 p.m., until Nov. 11.

To save justice

To save justice Noted jurists, human rights activists and the general public alike united on Monday to express their joy after public prosecutors in Bantul, Yogyakarta province, bravely demonstrated their determination to defend justice.

Smog unhealthy in KL, S'pore

Smog unhealthy in KL, S'pore KUALA LUMPUR (Reuters): The smoky haze blanketing parts of Southeast Asia returned to unhealthy levels yesterday in the Malaysian capital Kuala Lumpur after a week-long respite, the Department of Environment said.

Farmers let chickens die

Farmers let chickens die MEDAN, North Sumatra: Farmers here let thousands of their chickens die of starvation following the fall of poultry and other livestock prices, Antara reported yesterday.The farmers, associated in a group called Hipapsu (Association of North Sumatra's Meat Chicken Farmers),...

Bambang sees political move behind liquidation

Bambang sees political move behind liquidation JAKARTA (JP): Bambang Trihatmodjo, a major share holder of the liquidated Bank Andromeda, suggested that the recent closure of the 16 banks may be a political move to discredit the first family.

Time to end indigenous-nonindigenous strains

Time to end indigenous-nonindigenous strains Sofjan Wanandi does not believe laws which discriminate any group would be effective in reducing tension between indigenous and nonindigenous people. The spokesman of the Jimbaran Group of tycoons and chairman of the Gemala Group advocates economic...

Meteorology agency proposed to be made independent body

Meteorology agency proposed to be made independent body JAKARTA (JP): State Minister of Environment Sarwono Kusumaatmadja is suggesting that the national Meteorology and Geophysics Agency (BMG) be made an independent body, citing the agency's important role in the future.

G-15 leaders retreat to Malaysian resort

G-15 leaders retreat to Malaysian resort MALACCA, Malaysia (Reuters): Leaders of the Group of 15 (G-15) developing nations drove yesterday to a Malaysian beach resort to debate the bloc's future on the second day of a three-day summit.

25 die in bus-train crash

25 die in bus-train crash JAKARTA (JP): At least 25 people died and many others were seriously injured when a fully loaded inter-island bus collided with a speeding train yesterday in Kota Bumi, Lampung Utara regency in Lampung.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 4, 1997: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 850 -25 30,000 AHAP Insurance 2,500 0 0 Alter Abadi 500 -25 60,000 Alumindo Light Metal 525 0 904,500...

FAI buys Indonesian firm

FAI buys Indonesian firm SYDNEY (Reuters): FAI Insurances Ltd said yesterday it expected to announce a joint venture with an Indonesian insurer in coming weeks as part of its Asian growth strategy.FAI has said earlier it has been reviewing three acquisitions, to be funded from internal funds.

Conference on finance

Conference on finance JAKARTA (JP): Kuala Lumpur will host between Dec. 1 and Dec. 3 nine Ministers of Finance and other senior Association of Southeast Asian Nations (ASEAN) officials at the 30th anniversary ASEAN Conference on Finance.