Indonesian Political, Business & Finance News

Archive: 18 December 1997

56 articles found

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 Children's Film 3:10 Science Film: Animal Odyssey 3:35 Religious Teachings: Islam 4:00 Regional News 4:30 Traditional Performance: Gebug Ende 5:00 Arabic Lessons 5:30 Children's Program: Bermain Musik 6:00 News: Lintasan Berita 6:05...

Negative rumors

Negative rumorsFrom Bisnis IndonesiaMany negative rumors have been started by irresponsible people who want to create a disturbance in this country.One rumor said that another wave of bank closures would take place, and still another had it that the President's health was deteriorating.

Businessman tried for bank swindle

Businessman tried for bank swindle JAKARTA (JP): Businessman Made Oka Masagung was indicted at the South Jakarta District Court yesterday for his role in the forgery of 36 promissory notes worth Rp 324 billion (US$56.3 million) endorsed by his bank, Bank Arta Prima.Prosecutor Y.W.

Taiwan wins gold at world cycling meet

Taiwan wins gold at world cycling meet KUALA LUMPUR, Malaysia (AP): Chang Shu-yin won the women's 16- kilometer points race Tuesday, giving Taiwan its first gold medal of the World Cycling B Championship.Indonesia's Nuraini won the silver medal and Hong Kong's Alexander Yeung Ka Wah the bronze.

Search for Japanese divers continues

Search for Japanese divers continues UJUNGPANDANG, South Sulawesi: Police on Selayar Island in South Sulawesi have joined forces with local search and rescue teams to locate five Japanese divers who have been missing in Bira Bulukumba waters since Friday.

President Soeharto ready to resume state duties

President Soeharto ready to resume state duties JAKARTA (JP): After resting for about 10 days, Soeharto will resume his state duties at Merdeka Palace today by leading a Military Academy graduation.But Minister/State Secretary Moerdiono refused to say whether this meant that Soeharto had ended his...

Nondenominational faiths put in religious affairs

Nondenominational faiths put in religious affairs JAKARTA (JP): The People's Consultative Assembly ad hoc committee deliberating the draft 1998/2003 State Policy Guidelines agreed yesterday to admit the controversial issue of nondenominational faiths in the religious affairs section.

Recruitment fraud

Recruitment fraudFrom NeracaEarlier this month, 13 young men came to the Telkom office on Jl. Gatot Subroto, South Jakarta. They had apparently been deceived while trying to find employment in this office.

Have the markets gone mad?

Have the markets gone mad?By C.J. de Koning JAKARTA (JP): Have markets gone mad on the rupiah? This is a valid question when a depreciation of 5 percent to 10 percent per day occurs. There are two ways to look at the markets. The first one is through the valuation of assets.

A pedicab and modern Mona Lisa turn up at ceramic display

A pedicab and modern Mona Lisa turn up at ceramic displayText and photos by Stevie Emilia JAKARTA (JP): Seeds of inspiration can come from anywhere, and notoriously poor public transportation services get ceramicist Sri Hartono's creative juices flowing.

Mobile phone users slam poor service

Mobile phone users slam poor service JAKARTA (JP): Service providers for the popular mobile phone were the third most complained about sector this year, ranking behind housing and banking, according to the Indonesian Consumers Foundation (YLKI).

Satelindo's response

Satelindo's response I would like to thank The Jakarta Post for printing my letter Satelindo saga in its Dec. 10 edition. The letter was a positive catalyst in this matter.The letter was certainly seen by Satelindo and they have responded very positively.

JP Morgan top house in Asia

JP Morgan top house in Asia HONG KONG (Reuters): U.S. investment bank JP Morgan is the top house in Asian derivatives, a survey by the financial risk management publication Asia Risk said yesterday.The bank snatched top position from Chase Manhattan, which ranked first in 1995 and 1996, Asia Risk...

Cancellation of property projects may continue

Cancellation of property projects may continue JAKARTA (JP): Tough times will continue to shade the property sector in the capital for the next 18 months due to the currency upheaval, with more postponed or canceled projects and less demand, according to a property consultant firm.

Prison officer may get 6 months

Prison officer may get 6 months BOGOR (JP): Prosecutor M. Nasir asked Bogor District Court to sentence a prison officer, 41-year-old Munandar, to six months in jail for aiding the escape of the man behind the Jagorawi toll road murder and robbery.

Capital controls can have negative impact

Capital controls can have negative impact JAKARTA (JP): Imposing capital controls as a way of preventing the financial turmoil in Indonesia from worsening would negatively impact the economy, a veteran economist says.

Monkey shipment embargo lifted

Monkey shipment embargo lifted PARIS (Reuters): French animal rights association Aequalis said Air France Cargo had lifted its embargo, imposed in June 1997, on the shipment of monkeys from Indonesia.A flight carrying monkeys destined for the U.S.

On transforming the nation into a new society

On transforming the nation into a new society Leadership succession has been an on-and-off issue in Indonesian politics. Moeslim Abdurrahman, a political observer and Ph.D. candidate in anthropology at the University of Illinois in the United States, discusses the issue linked with political...

Casas' matchplay victory sets up clash against friend

Casas' matchplay victory sets up clash against friendBy Bobby Alan Wilson CLARKFIELD, Philippines (JP): Filipino Felix Casas defeated America's Gerry Norquist yesterday in the first round of the Volvo Asian Matchplay to set up an exciting second-round draw against his in-form compatriot and friend...

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Dec.17, 1997: Buying Selling Rp Rp U.S dollar 5,300.00 5,900.00Austrian shilling 421.10 483.70Australian dollar 3,561.90 3,820.90Belgian franc 147.40 160.50Canadian dollar 3,816.10 4,064.20Swiss franc 3,779.

National economy concept

National economy conceptFrom MerdekaI was impressed when I read a series of articles in Merdeka (Nov. 18 through Nov. 25) written by well-known scholar Kwik Kian Gie, who presented the articles in good language.

Cardinal says have 'a simple' Christmas

Cardinal says have 'a simple' Christmas JAKARTA (JP): Jakarta's Archbishop, Cardinal Darmaatmadja, called on Catholics in the capital to celebrate Christmas in simple but solemn ceremonies.Echoing an earlier message from the Indonesian Bishops Conference the cardinal appealed to Catholics to show...

Asian dilemma bites into Australia

Asian dilemma bites into Australia SYDNEY (AFP): Australia's economy trembled in the face of Asia's entrenched economic crisis yesterday as the tourism and education sectors weakened alarmingly and the dollar was tipped to plunge to a 10-year low."The Aussie dollar has fallen by so much so quickly..

Bus accident kills 4 people, injures 5 others

Bus accident kills 4 people, injures 5 others JAKARTA (JP): At least four people were killed and five others injured when a speeding, overloaded minibus hit a shelter at a bus stop in Tanjung Duren district, West Jakarta, yesterday morning.

Thai private sector debt runs to $72b

Thai private sector debt runs to $72b BANGKOK (AFP): Thailand's private sector foreign debt stands at $72 billion, with about 50 percent of the sum owed to Japanese creditors, Finance Minister Tarrin Nimmanahaeminda said yesterday.

Road to be widened in Bintaro Jaya

Road to be widened in Bintaro Jaya JAKARTA (JP): The City Council has urged Jaya Real Property, the developer of the Bintaro Jaya housing complex in South Jakarta, to broaden Jl. Cempaka connecting the complex and a major road in the area to help ease traffic congestion.

Canada's Paul hopes to win Super Car series at Sentul

Canada's Paul hopes to win Super Car series at Sentul JAKARTA (JP): Canadian Robert J. Paul is hopeful of winning the Super Car title at the Sentul circuit, near Bogor, on Sunday.If Paul wins, he will have won two titles this year after winning the 1997 national drag race series.

JC Penney's final sale attract bargain hunters

JC Penney's final sale attract bargain hunters JAKARTA (JP): Hundreds of bargain hunters have flocked to JC Penney outlets in Jakarta and Tangerang to take advantage of huge discounts following the company's decision to close down its Indonesian operation.

Bintang threatens to walk out of his subversian trial

Bintang threatens to walk out of his subversian trial JAKARTA (JP): Former legislator Sri Bintang Pamungkas is expected to attend Monday's opening court session of the subversion charges against him but he will likely boycott the rest of the proceedings at the South Jakarta District Court.

PT KPC to go ahead with IPO next year

PT KPC to go ahead with IPO next year JAKARTA (JP): Coal mining company PT Kaltim Prima Coal (KPC), based in East Kalimantan, plans to float its shares on the Jakarta Stock Exchange in March, the company said yesterday.Company assistant to managing director Hadi S.

Where to go in Bandung:

Where to go in Bandung:Music and Entertainment * Santika Hotel, Jl. Sumatera No. 52-54, Bandung: - Pandanwangi Restaurant: Organist and Singer, Evan and Yanti, Monday, 7 p.m. to 11 p.m., Batarade (Latin Music), Tuesday, Friday, 7 p.m. to 11 p.m., Evan (Organist) and Tine (Singer), Wednesday, 7 p.m.

Australian aid for Irian Jaya

Australian aid for Irian Jaya JAYAPURA, Irian Jaya: Two twin otter planes have been assigned by the Mission Aviation Fellowship (MAF) office in Australia to assist in the airdrop of food supplies to drought-stricken areas in Jayawijaya district.

IDB to support Indonesian stock markets

IDB to support Indonesian stock markets JAKARTA (JP): The Islamic Development Bank (IDB) and commercial banks from some Islamic countries have committed to support Indonesia's stock markets by picking up some undervalued, but quality stocks.IDB portfolio director B.M.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 17, 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 1,858,000 Alumindo...

Concrete measures awaited

Concrete measures awaited People are now waiting for concrete measures to be taken by the government, as promised by Finance Minister Mar'ie Muhammad after his recent "road show" to the United States. The fulfillment of this promise is of the greatest strategic importance amid our efforts to...

Three die in diarrhea outbreak

Three die in diarrhea outbreak TANGERANG (JP): A diarrhea outbreak in Solear subdistrict, Cisoka in Tangerang, has killed three people and hospitalized 37 others, an official said yesterday.Mas Iman K, head of the Tangerang social service agency, said that the dead victims were identified as...

I'm not ready for VP position: Hardiyanti

I'm not ready for VP position: Hardiyanti JAKARTA (JP): Siti Hardiyanti Rukmana threw in the towel in the race for the vice presidency yesterday, saying she was not capable of carrying out the second top position.

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., until Jan. 14. Talks with photographer, 2 p.m., on Dec. 20.

Clove trade's monopoly still needed, Hutomo says

Clove trade's monopoly still needed, Hutomo says JAKARTA (JP): Clove Marketing and Buffer Stock Agency (BPPC) chairman Hutomo Mandala Putra said yesterday that the agency's clove trading monopoly was still needed to protect farmers' interests.

Forest fires a costly lesson: Try

Forest fires a costly lesson: Try KARANG JOANG, East Kalimantan (JP): Vice President Try Sutrisno said yesterday the outbreak of forest fires this year is too costly a lesson that should not be repeated.

ASEAN criticized for lack of action

ASEAN criticized for lack of action BANGKOK (AFP): The "alternative" ASEAN human rights network slammed yesterday the Southeast Asian grouping for turning a blind eye to the abuse of citizens within the region, especially in Myanmar and East Timor.

Rumors of a coup attempt baseless: Edi

Rumors of a coup attempt baseless: Edi JAKARTA (JP): Minister of Defense Edi Sudradjat told people yesterday not to be provoked by baseless rumors about a coup attempt.Speaking to reporters after addressing the opening ceremony of an ASEAN seminar on Principles of Regional Resilience and...

Rupiah's fall 'no longer economic fundamentals sign'

Rupiah's fall 'no longer economic fundamentals sign' JAKARTA (JP): The sharp drop in the rupiah against the U.S. dollar in the last three months did not reflect the country's economic fundamentals any more, according to an economist.

Netherlands' awards honors Indonesians

Netherlands' awards honors Indonesians JAKARTA (JP): Two Indonesians will receive the 1997 Prince Claus Awards of the Netherlands here this weekend, according to the Embassy of the Netherlands.Jim Supangkat, an art critic, and Sardono W.

Navy looks for new recruits

Navy looks for new recruits SURABAYA, East Java: The Indonesian Navy is recruiting men and women who want to become naval sergeants and enlisted personnel.Information chief of the Navy's eastern fleet, Lt. Col.

Elnusa gets Rp 65b loan from Bukopin

Elnusa gets Rp 65b loan from Bukopin JAKARTA (JP): Bank Bukopin agreed here yesterday to provide credit facilities of about Rp 68 billion (US$11.8 million) to PT Elnusa.Elnusa's president Aswad Dipo said the credit line would mainly be used to finance the maintenance of the refineries owned by its...

Medical specialists in Sorong

Medical specialists in SorongFrom KompasFeeling patriotic to the country, I moved to Irian Jaya to settle in Sorong. With regard to the country's good intentions to improve community health conditions in the eastern part of Indonesia, what do medical specialists experience there? We cannot work to...

The need to improve Indonesia's image in the world community

The need to improve Indonesia's image in the world communityBy Budiono Kusumohamidjojo JAKARTA (JP): The Research and Development Board of the Indonesian Ministry of Foreign Affairs held a workshop on Dec.

Soeharto puzzled by rupiah fall

Soeharto puzzled by rupiah fall JAKARTA (JP): President Soeharto found it extremely difficult to understand why the rupiah had continued to fall against the U.S. dollar, a senior minister said yesterday.

Police raid clinic, collect samples in abortion probe

Police raid clinic, collect samples in abortion probe JAKARTA (JP): Central Jakarta Police temporarily closed a privately owned clinic on Jl. Kramat VI and detained its seven employees yesterday for questioning in connection with alleged abortion practices.

Exporters yet to benefit from rupiah's sharp fall

Exporters yet to benefit from rupiah's sharp fall JAKARTA (JP): The sharp depreciation of the rupiah against the U.S. dollar will not make Indonesian products more competitive because of their high import content, an economist said.

Alavi ends Taufik's unbeaten chess run

Alavi ends Taufik's unbeaten chess run JAKARTA (JP): FIDE Master Alavi Moghaddom of Iran ended Indonesian Taufik Hallai's unbeaten run at the world youth chess championships in Cannes, France, early yesterday.Taufik, who had not lost a game through the eighth round and had thus far collected 6.

ASEAN to use own money

ASEAN to use own money MANILA (AFP): Southeast Asian leaders have agreed to increase intra-regional trade using their own currencies as a measure to minimize the effects of the strong dollar, President Fidel Ramos said Wednesday.

A teacher's wish

A teacher's wishFrom Suara KaryaI am a grade school teacher in a small village in Central Java. I have been a teacher for 36 years. I am 55. When I retire at 60, I shall have worked 41 years.I say "thank you" to the gratitude expressed to teachers, both from students and the community.

RI still attractive to foreign investors

RI still attractive to foreign investors JAKARTA (JP): State Minister of Investment Sanyoto Sastrowardoyo reiterated yesterday that Indonesia was still attractive to foreign investors despite the ongoing currency crisis.Total foreign investment approvals rose to US$33.8 billion from January to Dec.

Transparency 'essential' to restore confidence

Transparency 'essential' to restore confidence JAKARTA (JP): Greater transparency and political will, especially in nominating vice presidential candidates, are essential to restore confidence in the Indonesian economy, chairman of Gemala Group Sofjan Wanandi said yesterday.