Indonesian Political, Business & Finance News

Archive: 19 December 1997

67 articles found

Improvement of ASEAN-EU trade ties called for

Improvement of ASEAN-EU trade ties called for JAKARTA (JP): Vice President Try Sutrisno yesterday called on the Association of Southeast Asian Nations (ASEAN) and European Union (EU) to eliminate trade barriers.

Arco drills gas off Irian

Arco drills gas off Irian LOS ANGELES (Reuters): Arco on Tuesday said it has drilled a successful natural gas well offshore Irian Jaya in eastern Indonesia which flowed at a combined rate of 45 million standard cubic feet per day from four stem tests. The Ubadari-1 well is located 30 miles from previous Arco wells. It is located in the same Paleocene age sandstone formation, giving Arco added confidence in the region's gas fields.

Vice governor gets award from Pope

Vice governor gets award from Pope KUPANG, East Nusa Tenggara: The Vice Governor of East Nusa Tenggara (NTT), Piet Alexander Tallo, has received a commendation from Pope John Paul II in recognition of his work in bringing peace and harmony to the province's religious communities. "I'm quite surprised. I didn't expect to receive an award of appreciation from the Pope," Tallo told journalists Wednesday.

Excelcomindo Pratama expands to Lombok

Excelcomindo Pratama expands to Lombok JAKARTA (JP): Private cellular operator PT Excelcomindo Pratama, which runs the GSM-XL cellular service, has expanded its service to Lombok, West Nusa Tenggara, by installing nine base transceiver stations (BTS) on the island. Company director of sales and customer service F.X. Hadi Tjokrosusilo said yesterday that Lombok was now the fifth province in the country served by GSM-XL after Jakarta, East Java, West Java and Central Java.

VP's role to increase in future

VP's role to increase in future By Hermawan Sulistyo JAKARTA (JP): The life expectancy for men in Indonesia is 54, while for its women it is 57. It is particularly due to this statistic that people easily believe the rumors concerning President Soeharto's deteriorating health, despite repeated official announcements stating the contrary. The president is now 76 years old. It is not important whether the rumors are true or not.

PPP's comic tragedy

PPP's comic tragedy The United Development Party (PPP) seems to be having a problem fulfilling the promises it made during the May general election campaign to sponsor political reform. Heading the strongest political group outside the government, many PPP leaders, especially those who head provincial chapters, feel the burden to keep their promise to the public.

Austrade opens Medan office

Austrade opens Medan office MEDAN, North Sumatra: An Australian Trade Commission office was opened here Wednesday, with the aim of boosting further Australian economic cooperation with Sumatra. The office, located on Jl. Kartini not far from the governor's office, was officially opened by North Sumatra Governor Pieter Sibarani. This is the third Australian Trade Commission office in Indonesia. The other two are located in Jakarta and Surabaya, East Java. (21)

Taufik eying silver in Cannes

Taufik eying silver in Cannes JAKARTA (JP): Taufik Hailai of Indonesia has a chance to finish as runner-up in the 10-year-old age group of the Junior World Chess Championships in Cannes, France after winning one point against Briton Gawain Jones early yesterday. His victory lifted him into the third place with 7.5 Victory Points. He now meets Radjabov Teimour of Ajerbaizan in the 11th round for the silver medal battle.

New rebels plan killings in RP

New rebels plan killings in RP ZAMBOANGA CITY, Philippines (DPA): Disgruntled rebels plan to launch attacks in southern Philippine coastal communities before the end of the year to test new recruits, the military said yesterday.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Dec.

City hires unemployed workers

City hires unemployed workers JAKARTA (JP): The city is to employ an additional 5,000 unskilled workers per month from January to tackle rising unemployment caused by the economic and monetary crisis, an official said yesterday. The work programs, based on President Soeharto's order for creating labor intensive projects during the crisis, would be carried out for three months after which they would be evaluated, said Vice Governor for Economic and Financial Affairs Harun Al Rasyid.

Special team needed to settle crisis: Bambang

Special team needed to settle crisis: Bambang JAKARTA (JP): Leading businessman Bambang Trihatmodjo called yesterday for the establishment of a special team of professionals to help the government tackle the economic crisis. Bambang, who is President Soeharto's second son, told reporters on the sidelines of a People's Consultative Assembly (MPR) meeting yesterday that such a team was needed to follow up on the President's general economic policies.

Casas survives scares to reach matchplay semis

Casas survives scares to reach matchplay semis By Bobby Alan Wilson CLARKFILED, Philippines (JP): Filipino Felix Casas survived two rounds of thrilling matchplay golf yesterday to book a semifinal berth against Des Terblanche of South Africa in the Omega Tour's Volvo Asian Matchplay at Mimosa Golf & Country Club.

Repeat offenders jailed for theft

Repeat offenders jailed for theft BOGOR (JP): The local district court has sentenced two men to three years in jail each and another to two years for stealing electronic goods worth Rp 5 million (US$1,000) in five separate robberies. Presiding judge Gunalita said Wednesday that M. Salim, 31, and Hery alias Apong, 30 -- who would serve the longer sentences -- and Niptah, 30, were all repeat offenders.

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. Followed by discussions with photographer and public, at 2 p.m., on Dec. 20. * Fine Arts Exhibition: Djentik 94 at the Arts Exhibition Room, Institut Kesenian Jakarta, Jl. Cikini Raya 73, Central Jakarta, until Dec. 23.

Central Jakarta clinic owner denies abortion allegations

Central Jakarta clinic owner denies abortion allegations JAKARTA (JP): The owner of a clinic in Central Jakarta attended a local police subprecinct yesterday to deny neighbors' accusation that she performed abortions. Central Jakarta Police chief Lt. Col. Iman Haryatna quoted Indrawati Dardiri, an obstetrician and gynecologist, as saying that her clinic had never conducted abortions. Her seven assistants, who were questioned the previous day, also denied the allegations, Iman said.

Asian markets gain as Tokyo succumbs

Asian markets gain as Tokyo succumbs HONG KONG (AFP): Most Asia-Pacific stock markets posted moderate gains yesterday on the back of steadier regional currencies, but Tokyo shares succumbed to profit-taking. A massive 16-billion-dollar tax cut announced by Japan to kickstart its stagnant economy had buoyed regional markets the previous day, and yesterday saw follow-through buying fueled by positive domestic developments.

BI to intensify banking sector reform: Soedradjad

BI to intensify banking sector reform: Soedradjad JAKARTA (JP): Bank Indonesia Governor J. Soedradjad Djiwandono said the government would intensify financial reforms after last month's closure of 16 private banks. Speaking at a conference here Wednesday evening, Soedradjad said the central bank would consistently pursue policies to create a sound and secure banking system.

Supreme Court drops activists' appeals

Supreme Court drops activists' appeals SURABAYA (JP): The Supreme Court has upheld a lower court's sentences on youth activists Dita Indahsari and Coen Husein Pontoh who were convicted of subversion earlier this year. The Surabaya District Court spokesman, Ismed, said yesterday that the court had yet to receive the Supreme Court's official statement concerning the matter. His office was informed of the ruling through a telegram.

Myanmar supports ASEAN peace vision

Myanmar supports ASEAN peace vision YANGON (AFP): Myanmar declared yesterday it was firmly behind the Association of Southeast Asian Nations (ASEAN) vision of regional peace and stability, hailing the recent informal summit in Kuala Lumpur a major success. Myanmar state newspapers hailed the summit -- the first attended by Yangon since its controversial entry into the grouping in July -- as "one of the most significant events in ASEAN's 30-year history".

Property sector to get worst next year, REI says

Property sector to get worst next year, REI says JAKARTA (JP): The country's property sector, which had been severely bruised by the monetary crisis, could see a worse market situation next year, a speaker at a seminar said here yesterday. Chief of the honorary board of the Indonesian Association of Real Estate Developers (REI) Moch. S.

Matahari raises Rp 902 billion from sales of rights shares

Matahari raises Rp 902 billion from sales of rights shares JAKARTA (JP): The country's largest retailer, PT Matahari Putra Prima, has raised about Rp 902 billion (US$180.4 million) from its sales of its rights shares. The company said in a statement yesterday that the fresh funds from the limited public offering increased its equity to Rp 1.5 trillion.

What is happening to this country?

What is happening to this country? While a dozen foreign countries are providing aid to save our people from starvation in Irian Jaya and Maluku, as much as US$80 billion in savings have been accumulated by Indonesians who have deposited their money in foreign banks.

14,000 to safeguard holiday exodus

14,000 to safeguard holiday exodus JAKARTA (JP): A 14,000-strong security team will be deployed to safeguard the mass exodus of Jakartans during the Christmas, New Year, Ramadhan fasting month and Idul Fitri holidays. City police chief Maj. Gen. Hamami Nata said yesterday the team would consist of 10,000 police officers and 4,000 personnel from related authorities such as the military and City Land Transportation Agency.

BNI expects to book higher bad loans

BNI expects to book higher bad loans JAKARTA (JP): Publicly listed state-owned Bank Negara Indonesia (BNI) projected yesterday that its nonperforming loans would likely increase in the near future due to the economic crisis dogging the country. BNI president Widigdo Sukarman told journalists after an extraordinary shareholders meeting that his bank's nonperforming loans currently stood at 5.9 percent of its total credits of Rp 30.15 trillion (US$5.79 billion) as of last September.

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. - Padi Prada Lounge: Jazz music by Milestone Dua, daily (except Monday), 8 p.m. to 12 p.m. - Taman Gita Terrace: Kecak dance, on Thursday. Barong dance, Sunday. - Monkey Forest Fun Pub: Karaoke and disco, daily 9 p.m. to 2 a.m.

Swiss man accused of pedophilia in RI

Swiss man accused of pedophilia in RI GENEVA (Reuters): Police in Switzerland said on Wednesday that a Swiss man had been detained in a suspected pedophile case involving abuse of children in Indonesia. A police statement said the man, in his 40s and from the French-speaking canton of Vaud, had been placed under preventive detention for alleged sexual offenses against young boys in Indonesia from 1991 to 1997. The man had denied the charges, the statement said.

Indonesia to import 1.25 tons of sugar next year

Indonesia to import 1.25 tons of sugar next year JAKARTA (JP): Indonesia is expected to import about 1.25 million tons of raw and refined sugar next year to meet growing demand, a senior official said. Director general of plantations for the Ministry of Agriculture, A. Rante Tondok, said here yesterday that the projected amount of sugar for next year would be similar to this year's level. Imports for 1998 are to comprise of 450,000 tons of raw sugar and 800,000 tons of refined sugar.

Drivers go on strike in Bogor

Drivers go on strike in Bogor BOGOR (JP): Dozens of drivers of minivans plying the Cileungsi-Ciangsana-Kampung Rambutan route went on strike yesterday to protest the opening of a new route which overlaps with theirs. They went to the Bogor Land Transportation Agency's office and demanded that the new route -- linking Citeureup, Wanaherang, Cileungsi, Kampung Rambutan and Pondok Gede -- be canceled.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 18 , 1997: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 650 0 0 AHAP Insurance 400 0 0 Alter Abadi 400 0 0 Alumindo Light Metal 200 25 3,386,500 Alumindo Perkasa 250 0 0 Aneka Kimia Raya 725 -25 320,000 Aneka Tambang 1,125 0 7,911,500 Anwar Sierad 225 50 46,000 Apac Centertex Corp.

Rupiah strengthens, stock prices slightly firmer

Rupiah strengthens, stock prices slightly firmer JAKARTA (JP): The rupiah strengthened, passing the 5,000 mark against the U.S. dollar yesterday, and local stock prices closed slightly firmer in a mild regional recovery, currency dealers and stockbrokers said. Currency dealers attributed the strengthening rupiah to President Soeharto's public appearance at the graduation day of the Indonesian military academy yesterday after a two-week rest on doctors' advice.

Soesilo dies after battling illness

Soesilo dies after battling illness JAKARTA (JP): Coordinating Minister for Political and Security Affairs Soesilo Soedarman died yesterday at Harapan Kita Hospital, West Jakarta after suffering lung disease complications for the past three weeks. He was 69 years old. Soesilo is survived by his wife, Widaningsri, two sons, a daughter, and six grandchildren. Soesilo's second son, Indroyono Soesilo, said the minister passed away at 3:32 p.m.

Absent senators may lose allowance

Absent senators may lose allowance BANGKOK (DPA): Thai senators who skip upper house meetings may soon have their attendance allowances slashed in a bid to cut the government budget, the Bangkok Post reported yesterday. The Senate Affairs Committee will study the proposal, Senate Speaker Meechai Ruchupan said. He added the measure would not affect senators who work and at the same time help cut the state budget.

Experts discuss poverty eradication

Experts discuss poverty eradication YOGYAKARTA (JP): Although the Southeast Asian region has achieved progress, its economic growth has not been accompanied by an even distribution of income, according to the representative of the United Nations Development Program (UNDP) to Indonesia.

67 hoodlums allowed back on the streets

67 hoodlums allowed back on the streets JAKARTA (JP): The 67 alleged hoodlums, who were rounded up during the clean-up operation in Tanah Abang recently and admitted to a rehabilitation program, have finished their training course and are awaiting job placement, an official said yesterday.

Ramos, Khamtay to boost ties

Ramos, Khamtay to boost ties MANILA (AFP): Philippine President Fidel Ramos and Lao Prime Minister Khamtay Siphandone agreed yesterday to increase cooperation in technical training and agriculture and forestry. An official statement said Ramos and Khamtay witnessed the signing of two agreements for boosting cooperation in these areas after a meeting at the Philippine presidential palace where they discussed bilateral and regional issues.

BA assigns new manager

BA assigns new manager JAKARTA (JP): British Airways has appointed Claire Hatton as its country manager for Indonesia, replacing David Jones. The company said here yesterday that Hatton, the first female executive to hold such a position in the track of the airline's Far East Asia operation, took up her new position with strong management experience across all sectors of the airline and throughout Asia and Britain. Hatton who graduated from Britain's Cardiff University, replaced David Jones.

Greater gold demand likely: WGC

Greater gold demand likely: WGC LONDON (Reuters): Lifting taxes, duties and other controls on gold trade could boost demand by hundreds of tons in countries like China, Brazil, Indonesia and Mexico, the World Gold Council (WGC) said on Wednesday. Price controls, import duties, taxes and bars on individual investors hoarding the metal stem from "outmoded" thinking forged when gold was a currency bulwark, the WGC said in a report on regulatory barriers to world gold trade.

Astra units get ISO 14001

Astra units get ISO 14001 JAKARTA (JP): Three subsidiaries of publicly listed Astra International -- namely PT Pulogadung Pawitra Laksana, PT Sumalindo Lestari Jaya and PT Gaya Motor -- received yesterday International Standard Organization (ISO) 14001 certification for quality environmental management. Astra's president T.P.

Merpati flies to Perth

Merpati flies to Perth JAKARTA (JP): State-owned air carrier Merpati Nusantara will launch a new service to Perth, Australia, on Sunday. Merpati's spokesperson, Tondo Widodo, said here yesterday that the airline would link Jakarta and Perth via Denpasar, Bali, three times a week using a 210-seat Airbus A310. The flight to Perth would be Merpati's sixth international destination after Singapore, Kuala Lumpur, Darwin, Port Hedland and Melbourne, he said.

Investors' return needed to boost rupiah

Investors' return needed to boost rupiah Despite an economic reform package, the rupiah's value has continued to nosedive. Economist Sri Mulyani Indrawati of the University of Indonesia discusses the recent monetary development. Question: Why does the rupiah continue its dive? Sri: The rupiah fell further due to both economic and political factors. Speculative buying of U.S. dollars before Aug.

Soesilo, first and foremost a fighter

Soesilo, first and foremost a fighter Soesilo Soedarman, coordinating minister for political and security affairs since 1993, was known as a fighter throughout his public life. Born in a village near Cilacap in Central Java in 1928, he abandoned a prestigious high school seat in 1945 to join -- as did most Indonesian youths at the time -- the fight to defend Indonesia's independence, which was proclaimed on August 17, from the returning Dutch forces.

Albert Paruntu named Asiad training director

Albert Paruntu named Asiad training director JAKARTA (JP): The National Sports Council chairman, Wismoyo Arismunandar, has appointed Albert Paruntu, an official of the Indonesia Karatedo Federation, as the country's 13th Asian Games training director. Wismoyo said after a meeting Wednesday that he chose Albert because the latter had proven his ability to command a team during his career in the Army.

'Burung Gelatik' teaches freedom's way for kids

'Burung Gelatik' teaches freedom's way for kids JAKARTA (JP): A pioneer in Indonesian children's music, Sarijah Bintang Soedibio, better known as Ibu Sud, has advocated allowing children the freedom to express themselves. Some of that independence came alive in Yulianti Parani's Burung Gelatik (Java Finch), a 1969 nature-glossed performance choreographed to Ibu Sud's music, revolving around rainbow images of the world seen, literally, from a caged bird's-eye view.

'Chaebol' conglomerates on global shopping lists

'Chaebol' conglomerates on global shopping lists By Frederic Garlan SEOUL (AFP): South Korea's struggling "chaebol" conglomerates need money desperately and their dire circumstances are attracting a host of potential suitors from around the world. South Korea's financial crisis represents a unique opportunity for foreign businesses which still believe in the market here and Western emissaries are now feverishly negotiating the purchase of sections of the giant conglomerates.

Suit on Jamsostek's directors questioned

Suit on Jamsostek's directors questioned JAKARTA (JP): Judges from the Jakarta State Administrative Court yesterday began studying the legality of the class action suit against the misuse of funds by PT Jamsostek directors. "I will study the lawsuit, whether it is eligible to proceed or not," Judge Lintong Oloan Siahaan told journalists after presiding over a closed preliminary hearing of the case here yesterday. Lintong adjourned the hearing to Jan. 12.

Curb measure on CPO export explained

Curb measure on CPO export explained JAKARTA (JP): The government announced yesterday full details of its new measure to curb exports of palm oil and related products, in a bid to stabilize the commodity's local prices. Under a Ministry of Industry and Trade decree, which goes into effect today, the government appointed 17 groups, owners of 214 oil palm plantation companies and all olein refineries in the country, to supply the local demand for crude palm oil (CPO) and olein.

Workers demand bigger bonuses

Workers demand bigger bonuses TANGERANG (JP): Hundreds of workers from a steel factory on Jl. Raya Serang in Tangerang went on strike yesterday, demanding bigger bonuses. PT Jakarta Steel Perdana Industri workers demanded that the company double the annual bonuses which are equal to one month's salary. They claimed that the amount was not sufficient to cover their basic needs.

Ajib retains WBF junior title

Ajib retains WBF junior title JAKARTA (JP): Indonesia's Ajib Albarado retained his World Boxing Federation junior welterweight title against Umnard Sukhathai of Thailand in a bout here Wednesday night. The Thai's coach Thakoon Pongsupha threw the towel into the ring after Umnard fell for the sixth time in round four.

Fress fighting flares on Cambodian border

Fress fighting flares on Cambodian border SAMRONG, Cambodia (Agencies): Morale among resistance fighters was reportedly wavering yesterday as troops loyal to Cambodian leader Hun Sen renewed assaults against their positions. An official close to Prince Norodom Ranariddh, deposed as co- prime minister by Hun Sen in a bloody takeover in July, said by telephone that the outnumbered fighters were growing pessimistic.

Riot suspect sent to jail

Riot suspect sent to jail TASIKMALAYA, West Java: Agustiana Suryana, 32, was sentenced yesterday to eight years in prison for instigating a riot here last December, Antara reported. Presiding Judge A. Munaf Djubaedi of the Tasikmalaya District Court said Agustiana was found guilty of subversion, namely perpetrating the riot, which was triggered by police mistreatment of a local preacher. Four people died during the riot on Dec.

Riot breaks out in S'pore boys' home

Riot breaks out in S'pore boys' home SINGAPORE (DPA): Fourteen teenagers were hospitalized after a riot broke out at a Singapore boys' home, reports said yesterday. At least three riot police vans were sent to Clementi Boys' Town after fighting broke out about 8 p.m. Wednesday in one of the home's residential blocks, the Straits Times newspaper said. Most of the boys in the block had a history of serious offenses, including gang-fighting and theft.

Let govt overcome crisis: Harmoko

Let govt overcome crisis: Harmoko JAKARTA (JP): House Speaker Harmoko is surrendering all decision-making on the Indonesian monetary crisis to the government, including on whether officials should take pay cuts as an austerity measure. "Let's leave it to the executive branch. We believe the government will be able to overcome the monetary crisis," Harmoko said here yesterday.

Police hunt killer of 'Ojek' driver

Police hunt killer of 'Ojek' driver JAKARTA (JP): An ojek (motorcycle taxi) driver was found dead with four gashes in his abdomen, chest and face Wednesday evening on a road in Cikarang, Bekasi, east of here. A local police officer said yesterday that the victim, identified as Endih bin Sukardi of Rengas Bendung in Karangsembung, Waringin district, was allegedly killed by a passenger who attempted to steal his motorcycle.

Don't fish in murky waters: Soeharto

Don't fish in murky waters: Soeharto JAKARTA (JP): President Soeharto, attending his first state function in nearly a fortnight, told people not to fish in murky waters by taking advantage of the currency crisis. The President said the nation should work shoulder to shoulder to strengthen the country's national resilience.

Paintings go on sale

Paintings go on sale YOGYAKARTA: Art lovers should rush to Semarang, Central Java, as 600 paintings by 72 artists will be sold at bargain prices in an attempt to stimulate public interest and appreciation of the arts. The paintings will be on sale until Jan. 17 at Pasaraya Sri Ratu in Semarang. All paintings will be sold for less than Rp 1 million (US$181). "We, the artists, have agreed not to sell a painting for more than one million rupiah.

The Listening Post

The Listening Post * Internet banking in Indonesia: Bank Papan Sejahtera and Lotus Development Corporation have agreed to collaborate on a range of computer network services for Papan depositors and lenders. To explain how this will sharpen Papan's productivity, President Director Al Njoo hosted a Presentation and Press Conference with Jeff Papows, Chairman and CEO of Lotus Development Corporation, at the Dharmawangsa Apartment Hotel last Sunday.

No New Year's Eve parties in Bogor

No New Year's Eve parties in Bogor BOGOR (JP): The city administration has banned the public from holding big parties on New Year's Eve as it coincides with the start of Ramadhan, the fasting month, an official said yesterday. "The public will not be allowed to hold large parties in the form of outdoor entertainment on stages and the like," Didi Wiardi, head of the Bogor sociopolitical affairs office, said.

Newsprint will be sold in rupiah

Newsprint will be sold in rupiah JAKARTA (JP): The Association of Indonesian Pulp and Paper (APKI) and the Association of Indonesian Newspaper Publishers (SPS) agreed yesterday that newsprint will be sold in rupiah, not in U.S. dollars as was the custom. "We have both agreed that newsprint will not be sold in dollars anymore," chairman of the APKI presidium, Muhammad Mansur, said as quoted by Antara.

Javanese dance puts women's roles in context

Javanese dance puts women's roles in context By Helly Minarti JAKARTA (JP): After a hiatus from performances in the last two years, Deddy Dance Company returns with two genres of Javanese dance brought into a sharp modern focus. The pieces -- to be performed tomorrow and Sunday at Gedung Kesenian Jakarta -- explore different periods and societies, one basic, one refined, but they converge in the subject matter of women dealing with the sometimes vicious realities of their lives.

Where to go in Surabaya:

Where to go in Surabaya: Music and Entertainment * Sheraton Hotel, Jl. Embong Malang 25-31: - Bongo's Fun Pub & Restaurant: The Brilliant Creatures band performance, Tuesday to Sunday, 8:30 p.m. to 1 a.m. - Kawi Lounge: the Hip Fidelity Duo, Monday to Saturday, 8 p.m. to 12 midnight. * 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.

Fitch IBCA may cut RI's debt ratings

Fitch IBCA may cut RI's debt ratings NEW YORK (Reuters): International rating agency Fitch IBCA said Wednesday it may cut Indonesia's BBB-minus long-term foreign currency rating and F3 short-term rating because of political and policy uncertainty. At the same time, Fitch IBCA said that the possibility of the government imposing foreign exchange controls meant that there is potential transfer risk of economic origin, which might prevent support for foreign currency creditors.

Monetary turmoil deals heavy blow to laborers

Monetary turmoil deals heavy blow to laborers JAKARTA (JP): The monetary crisis has put the brakes on many city projects, leaving an untold number of construction workers jobless, homeless and starving. Hundreds of unskilled workers, mostly bricklayers and workmen, are forced to live under the flyovers -- such as the ones in Grogol, West Jakarta, and Cawang in East Jakarta -- where they wait for work.

The rupiah

The rupiah From Neraca I am a columnist and I join those who are concerned about the fall of the rupiah. In my opinion, it is no longer an economic problem but is derived from speculations which will destroy the achievements of our country's development. I propose the following: (1) The problem of indigenous and nonindigenous citizens should not be spoken about, especially during this period of prolonged monetary upheaval.

Economic reform needed

Economic reform needed From Merdeka There was an interesting hypothesis in the Dec. 5 editorial of Merdeka: "If the monetary crisis comes as an uninvited guest, then the first to be held accountable for that is the government of the country concerned. In fact, what is much more important than setting up stand-by funds is the reformation of the country's economic and political structure".

Assembly okays draft on human rights

Assembly okays draft on human rights JAKARTA (JP): A People's Consultative Assembly team completed a draft on human rights protection yesterday to be incorporated in the 1998/2003 State Policy Guidelines. But one of the team members, Ismunandar, said the Assembly's approval of the draft did not put a stop to a motion for a separate and more powerful decree on human rights jointly lodged by the Indonesian Democratic Party (PDI) and the United Development Party (PPP).

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: Tom and Jerry Kid 3:10 Children's Program: Tunas 3:35 Talk Show: Sambung Rasa 4:00 Regional News 4:30 Student's Quiz: Cerdas Cermat 5:10 Documentary Film: Science World 5:30 Music: Paket 27 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 TVRI News 7:00 Evening News 7:35 Dynamic 8:05 TV Drama 9:00 World News 9:30 The Appreciation of Home Production 10:30 Late News 10:40 TV Drama:...