Indonesian Political, Business & Finance News

Archive: 17 December 1997

63 articles found

Ajib to fight Thai in WBF title defense

Ajib to fight Thai in WBF title defense JAKARTA (JP): Indonesian World Boxing Federation (WBF) welterweight junior titleholder Ajib Albarado is ready to defend his title in today's bout against Thailand's Umnard Sukhthai at the Indosiar building.

Military braces for massive layoffs

Military braces for massive layoffs SURABAYA (JP): The East Java military is bracing itself for large scale demonstrations in anticipation of the expected 6,000 layoffs likely to occur in January.Maj. Gen.

Gas field found in Fak-fak

Gas field found in Fak-fak SORONG, Irian Jaya: A huge natural gas field, believed to be the biggest in Indonesia, has been found in Bomberai village, Fak-fak, Irian Jaya.The field was the first to be discovered in Fak-fak by PT ARCO, a contractor of state oil and gas company Pertamina, since it...

Debt-ridden Asian corporates fight to cut losses

Debt-ridden Asian corporates fight to cut losses SINGAPORE (AFP): Asian corporates buried under a mountain of U.S. dollar-denominated debt are unwittingly pulling down their own currencies as they race to repay their ballooning loans by year-end, analysts said Tuesday.

Unicef officer tells govt to maintain food supply

Unicef officer tells govt to maintain food supply JAKARTA (JP): A Unicef officer appealed to the government yesterday to issue a special policy to enable households, particularly those still living in poverty, to maintain their food supply during the economic crisis.

RI gymnasts up for SEAGCON

RI gymnasts up for SEAGCON JAKARTA (JP): The Indonesian Gymnastics Association will send nine gymnasts to the fourth Southeast Asian Games Confederation (SEAGCON) junior gymnastics championships in Kuala Lumpur from Dec. 17 to Dec. 22.

Pelabuhan Ratu puts best face on for cultural festival

Pelabuhan Ratu puts best face on for cultural festival JAKARTA (JP): Preparations are underway for a special week of festivities at the Pelabuhan Ratu coastal area in West Java.Locals have started sprucing up the district as they ready to host the first Palabuhan Ratu Festival, to open this...

S'poreans jailed for smuggling pills

S'poreans jailed for smuggling pills TANGERANG (JP): The local district court here sentenced two Singaporeans to four years in jail each for attempting to smuggle thousands of Ecstasy pills into the country late last year.

Cathay to defer new plane purchases

Cathay to defer new plane purchases HONG KONG (AFP): Cathay Pacific Airways is to defer options on new aircraft because of the slump in regional tourism caused by Asia's financial crisis, a company spokeswoman said yesterday.

Spotlight

SpotlightPhoto A: JournalBorobudur Inter-Continental JakartaDIPLOMATIC DO: Minister of Foreign Affairs Ali Alatas meets general manager of the Borobudur Inter-Continental Jakarta, Michael Tuorniare (right) at the launching of Duta, the Indonesian Journal of World Affairs.

Expert warns of Mt. Merapi lahar

Expert warns of Mt. Merapi lahar SEMARANG, Central Java: The large lahar dome on the peak of Mount Merapi has begun to crack and poses a real threat as the region enters the rainy season, according to a volcanology official.

Conversion rates

Conversion rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Dec. 16, 1997: Buying Selling Rp Rp U.S dollar 5,200.00 5,800.00Austrian shilling 403.80 466.60Australian dollar 3,386.30 3,656.80Belgian franc 142.70 153.30Canadian dollar 3,686.80 3,952.

Rupiah strengthens, stocks gain

Rupiah strengthens, stocks gain JAKARTA (JP): Bank Indonesia gave a push to the rupiah yesterday, which slipped to a record low of 6,000 against the U.S. dollar, while local stock prices gained ground, currency dealers and stockbrokers said.

Bank channel loans to small enterprises

Bank channel loans to small enterprises JAKARTA (JP): Bank Indonesia, the central bank, said yesterday that subsidized loans for small- and medium-scaled enterprises had been made available through state banks and Bank Bukopin since early this month.

Food shortage requires urgent action: Megawati

Food shortage requires urgent action: Megawati JAKARTA (JP): Megawati Soekarnoputri warned the government yesterday that while the economic crisis can be cured in the long-term, the problem of hunger is urgent and should be dealt with immediately.

House does not need code of ethics

House does not need code of ethics Following bribery allegations of some members of the House of Representatives (DPR), leaders of all four factions of the House have approved a plan to set up an ethics code for legislators.

Planting rice in Irian?

Planting rice in Irian?From RepublikaI have been wondering how the Indonesian Science Institute (LIPI) could have come up with the "brilliant idea" of teaching the Irian Jaya population to plant rice, as reported by one of Jakarta's newspapers. This is really disheartening.

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 Children 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...

Whence come rumors?

Whence come rumors? Public concern about the health of President Soeharto has apparently been exploited by some people to instill fear into the financial markets, leading to the renewed free-fall of the rupiah these past few days.

Naval parade in Surabaya

Naval parade in Surabaya SURABAYA, East Java: To celebrate its 52nd anniversary, the Indonesian Navy held a big parade here Sunday.Some 5,224 personnel participated in the parade which also featured models of battleships and the Jalesveva Jayamahe Monument.

Foreigners fathered RI's graft

Foreigners fathered RI's graftBy Donna K. Woodward MEDAN (JP): Indonesia is a country often at the top of the world's lists of the most corrupt countries. Why?Is Indonesian culture innately and inevitably corrupt?Contrary to this popular but superficial view, corruption is not an endemic part of...

Attorney General vows to probe officials' conduct

Attorney General vows to probe officials' conduct JAKARTA (JP): Attorney General Singgih announced yesterday that a team of investigators would probe the alleged role of employees from the Jakarta Provincial Prosecutor's Office in influencing witnesses' testimonies.

Four teenagers die in fire

Four teenagers die in fire SAMARINDA, East Kalimantan: Four teenagers burned to death when they failed to escape a fire that razed at least 70 houses in Tanjung Redep district, Berau regency, East Kalimantan province last Sunday.

UN vows to accelerate E. Timor settlement

UN vows to accelerate E. Timor settlement JAKARTA (JP): United Nations Secretary-General Kofi Annan pledged yesterday to accelerate his efforts to help Indonesia and Portugal settle the East Timor issue.

ASEAN, Japan reaffirm commitment to IMF bailout

ASEAN, Japan reaffirm commitment to IMF bailout KUALA LUMPUR (Reuters): Leaders of the nine ASEAN nations and Japan yesterday reaffirmed their support for IMF bailout schemes and called for swift implementation of the Manila framework to restore regional financial stability.

Asia braces for unrest as turmoil spreads

Asia braces for unrest as turmoil spreadsBy Sarah Davison HONG KONG (Reuters): Asia's economic turmoil is threatening to spill over from the financial markets to the streets, with many analysts predicting outbreaks of violence and nationalism as the crisis intensifies.

Sahid International, Park Plaza forms alliance

Sahid International, Park Plaza forms alliance JAKARTA (JP): Sahid International Hotel Management and Consultant will form an alliance with Park Plaza International (PPI) Asia Pacific Pty Ltd to jointly tap the growing hotel industry in the region.

Extra buses ready for Idul Fitri

Extra buses ready for Idul Fitri SEMARANG, Central Java: The land transportation office has prepared 24,815 buses for the Idul Fitri and New Year exodus, an official said here Monday."In addition to the buses prepared, an extra 188 buses will be operated during Idul Fitri," Rasiswo said.

RI buys Indian rice know-how

RI buys Indian rice know-how NEW DELHI (DPA): Indian-made technology to produce particle boards from rice husks rather than wood chips will soon be adopted in Indonesia under a licensing deal signed yesterday.

Bumbu's seasoning spices up eclectic decor

Bumbu's seasoning spices up eclectic decor "Where does one get a good, reasonably priced Indonesian meal?" friends visiting the city recently asked me.An expansive wave in the direction of my local roadside food stall would not have sufficed, even though the food-loving mother-of-three who runs it...

Hashimoto says U.S. presence in Asia required

Hashimoto says U.S. presence in Asia required KUALA LUMPUR (AFP): Japanese Prime Minister Ryutaro Hashimoto told ASEAN leaders yesterday that the presence of American troops in Asia and closer ties with China were crucial to promoting regional security.

Try Sutrisno appeases confusion over politics

Try Sutrisno appeases confusion over politics JAKARTA (JP): Vice President Try Sutrisno has called on Indonesian people, especially youth, not to be confused about the current political situation.The vice president urged young people not to be influenced by certain groups' attempts to disturb...

Asia unites in adversity

Asia unites in adversity KUALA LUMPUR (Reuters): Twelve Asian nations formed a sense of unity through adversity during a three-day summit in Kuala Lumpur, Malaysia's host Prime Minister Mahathir Mohamad said yesterday.

Bangkok subway deal signed

Bangkok subway deal signed BANGKOK (AFP): Thai authorities have appointed a foreign-led consortium to oversee the building of a long-awaited subway system, a report said yesterday.Bangkok's Metropolitan Rapid Transit Authority (MRTA) signed a 1.28 billion baht (US$26.

Thai cabinet cut their pay

Thai cabinet cut their pay BANGKOK (DPA): The Thai cabinet pushed through a 20 percent cut in monthly salaries for government ministers and legislators as an austerity measure, a senior minister said yesterday.

RI's youth suffer from crisis of values

RI's youth suffer from crisis of values JAKARTA (JP): Researchers say young Indonesians today suffer from anomie. They do not know right from wrong.Rusydi Syahra, a senior researcher at the National Institute of Sciences, told a seminar on youth here yesterday that many young people committed...

Investment funds of Jamsostek 'mismanaged'

Investment funds of Jamsostek 'mismanaged' JAKARTA (JP): The returns on investment by state-owned social insurance company PT Jamsostek are still below average as most investments are mismanaged, according to the Econit Advisory Group.

Assembly may drop draft on human rights charter

Assembly may drop draft on human rights charter JAKARTA (JP): The People's Consultative Assembly came closer yesterday to reaching a decision to reject motions for human rights protection sponsored by minority factions.

Businessman may get 4 years for stealing designer watches

Businessman may get 4 years for stealing designer watches JAKARTA (JP): A prosecutor asked Central Jakarta District Court yesterday to sentence a businessman to four years in jail for allegedly masterminding the theft of watches worth Rp 3.9 billion (US$678.60).Prosecutor Y.W.

Most discotheques, cafes ignore rules

Most discotheques, cafes ignore rules JAKARTA (JP): Most cafes and discotheques in Jakarta have failed to win an Excellence in Tourism award because they constantly breach regulations, an official said yesterday.

S&P puts some Indonesian banks under review

S&P puts some Indonesian banks under review HONG KONG (AFP): U.S. ratings agency Standard and Poor's yesterday put four Indonesian banks under review for a possible downgrade of their credit rating, citing concerns the country's banking system was deteriorating.

PPP opts to wait and see on presidential candidate

PPP opts to wait and see on presidential candidate JAKARTA (JP): Despite prolonged debate, the United Development Party (PPP) failed to agree yesterday on its presidential candidate and deferred the job of announcing the name to chairman Ismail Hasan Metareum.

Enron seeks to revive US$525m power project

Enron seeks to revive US$525m power project JAKARTA (JP): Enron International, a major American energy company, is seeking to revive its US$525 million power project in East Java which the government postponed in September as part of spending cuts forced by the currency crisis.

China faces up to ASEAN facts

China faces up to ASEAN facts There is no mistaking the atmosphere of gloom at this ASEAN meeting. It is likely that the participants at this ASEAN summit will work out some program for mutual assistance. How effective this will be remains to be seen.

Only radical reforms can end present crisis, says scholar

Only radical reforms can end present crisis, says scholar JAKARTA (JP): Political scholar Nurcholish Madjid said yesterday the nation must be willing to engage in radical political and economic reforms if it is to lift itself from the monetary crisis.

28 caught without ID cards

28 caught without ID cards JAKARTA (JP): Central Jakarta Police have rounded up 28 people who were caught without their identification cards (KTP) during an operation at Senen market, an officer said yesterday.Second Lt.

Asian woes to affect Chinese exports

Asian woes to affect Chinese exports BEIJING (Reuters): Weaker currencies in Southeast Asia and rising trade friction are likely to dampen China's exports in 1998, Chinese Trade Minister Wu Yi was quoted on Tuesday as saying.

UN envoy to go to Myanmar

UN envoy to go to Myanmar KUALA LUMPUR (AFP): UN Secretary-General Kofi Annan said here yesterday he would send a special envoy to Myanmar in January to meet officials of its ruling junta as well as opposition leader Aung San Suu Kyi.

Labor insurance

Labor insuranceFrom KompasAs a member of the Astek/Jamsostek (labor insurance) program, I would like a clear explanation of a number of things. According to articles six and 25 of Law No. 3 of 1992, the objective of the collection of labor insurance funds is to enhance the welfare of Indonesian...

PT Telkom wary over telephone line target

PT Telkom wary over telephone line target JAKARTA (JP): State-owned PT Telkom and its private partners will face difficulties in meeting the government's target to install eight million telephone lines in the current Sixth Five- Year Development Plan.

No roll over for loans, Japan says

No roll over for loans, Japan says KUALA LUMPUR (Reuters): Japan told yesterday Southeast Asian nations that it could not help their troubled economies by forcing private banks to roll over loans, Philippine President Fidel Ramos said.

Myanmar military pledges to stop future power grab

Myanmar military pledges to stop future power grab YANGON (Agencies): The Myanmar military government has vowed to develop the country so the nation's armed forces never need to seize power again, official media outlets said yesterday.Lt. Gen.

No perks, no village chief

No perks, no village chief JAKARTA (JP): Minister of Home Affairs Moch. Yogie SM is concerned that fewer people will want to become village chiefs because the perks, such as the provision of free land, are no longer available.

Pensioners protest failed payments

Pensioners protest failed payments MEDAN, North Sumatra: Hundreds of former employees of a state- owned plantation company here demonstrated at the provincial legislative council denouncing the company's failure to pay their pension for six years.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 16, 1997: Shares Close Change Trading Volume ------------------------------------------------------ Ades Alfindo 650 0 0 AHAP Insurance 400 0 0 Alter Abadi 400 0 0 Alumindo Light Metal 175 0 1,174,000 Alumindo Perkasa 250...

Three students die in collision

Three students die in collision LHOKSEUMAWE, Aceh: Three high school students were killed in a collision between a bus and truck yesterday morning.Antara reported that the bus, which was carrying about 40 students, was believed to have been speeding when the accident occurred.

France wins world c'ships: Bermuda Bowl

France wins world c'ships: Bermuda BowlBy Djanwar Madjolelo JAKARTA (JP): Congratulations first to France which has achieved the great feat of being Olympiad and Bermuda Bowl Champions in consecutive years: 1996 and 1997.

Regent threatens karaoke bars

Regent threatens karaoke bars PALANGKARAYA, Central Kalimantan: Kotawaringin Timur Regent Didik Salmijardi has threatened to burn down karaoke bars which continued operations without permits, Antara reported yesterday.

Medical check-ups from military

Medical check-ups from military JAKARTA (JP): More than 1,700 Tambora residents in West Jakarta received free medical check-ups yesterday from the Jakarta Military Command in a public-service activity to commemorate its 42nd anniversary this year.Commander Maj. Gen.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Photo Exhibition: Kilas Balik 97, 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., Dec. 17 through Jan. 14. Followed by discussions with photographer and public, at 2 p.m., Dec. 20.

Medco raises output of Sumatra oil field

Medco raises output of Sumatra oil field JAKARTA (JP): Oil company PT Exspan Kalimantan, a subsidiary of Medco Energi Corp, has increased the output of the Kaji Semoga oil field in South Sumatra by 7,000 barrels per day (bpd) to 10,000 bpd."The development of the oil field is continuing.

Travel industry warned of rates

Travel industry warned of rates JAKARTA (JP): A senior tourism executive has warned Indonesia's travel industry and related businesses to set realistic prices to survive global tourism competition.Managing director of the Indonesian Tourism Promotion Board, Wuryastuti Sunario, told The Jakarta Post...

Wild boar scares S'pore ferry staff

Wild boar scares S'pore ferry staff SINGAPORE (DPA): Passengers were evacuated from a Singapore ferry terminal after a wild boar wandered into the area, news reports said yesterday.The 60-centimeter long animal was spotted early Monday in the shrubbery at Changi Ferry Terminal, which operates a...