Indonesian Political, Business & Finance News

Archive: 20 February 1997

61 articles found

NZ gives $1.4m to RI

NZ gives $1.4m to RI JAKARTA (JP): The New Zealand Government is giving US$1.4 million for technical assistance through its Official Development Assistance program, the country's ambassador to Indonesia, Tim Groser, said yesterday. Groser said the money would support a three-year integrated farm development project in Eastern Indonesia. The project is aimed at increasing poorer farmers' income and social welfare by increasing production and livestock populations, he said.

Police face problems in handling software piracy

Police face problems in handling software piracy JAKARTA (JP): Inadequate law and knowledge have hindered legal proceedings against many software pirates in Indonesia which has a reputation as one of the world's worst offenders of property rights, a police officer has said. National Police production and trade detective department chief Lt. Col. P. Harry Purnomo said yesterday only five cases of software piracy had been legally processed.

Where to go in Jakarta:

Where to go in Jakarta: Music * Mandarin Oriental Jakarta, Jl. MH Thamrin, Central Jakarta: - Chequers; The World Premier Band from USA, daily (except Sunday), 9 p.m. to 1 a.m. * Millennium Sirih Jakarta, Jl. Fachrudin 3, Jakarta: - The Lobby Lounge; Sahata Group, daily, 7 p.m. to 10.30 p.m. * Grand Hyatt Jakarta, Jl. Thamrin, Central Jakarta: - Fountain Lounge; Klasiko Suprema from the Philippines, daily (except Tuesday), 8:30 p.m.

Belo stresses need for dialog to end conflicts

Belo stresses need for dialog to end conflicts DILI (JP): East Timorese and people from other provinces need to improve mutual respect and understanding so they can live side by side in harmony, the Bishop of East Timor, Carlos Filipe Ximenes Belo, said yesterday. Indonesians, who consist of over 300 ethnic groups embracing five "official" religions, he said, are "basically" a peace- loving people who shun conflict.

Asia-Pacific tourism to double by 2010

Asia-Pacific tourism to double by 2010 MALE (AFP): The World Tourism Organization (WTO) expects the number of travelers to the Asia-Pacific region to double to around 240 million by 2010. While still lagging behind Europe, the region could overtake the Americas, according to the figures released at a four day meeting in the Maldives of Asia Pacific tourism ministers.

Lilik new ITB rector

Lilik new ITB rector BANDUNG: Wiranto Arismunandar, rector the prestigious Bandung Institute of Technology for two consecutive terms, will be replaced by Lilik Hendrajaya in a ceremony on March 7. Lilik is a professor in the physics department as well as its deputy dean. His expertise is in geophysics. Wiranto broke the news about his impending transfer after an Idul Fitri gathering here Monday.

Two found dead in Cilacap

Two found dead in Cilacap CILACAP, Central Java: The Wijayakusuma search and rescue team has found the bodies of two people drowned at the Karangkandri and Serandil beaches. The team, lead by Atas Munandar, found the corpse Sunday of an unidentified, petite woman in her 30s wearing beige pants and a blue blouse. She is believed to have drowned in swirling currents where the Serayu river meets the ocean at the Karangkandri beach.

Tunky rules out tax breaks for electronics industry

Tunky rules out tax breaks for electronics industry JAKARTA (JP): Minister of Industry and Trade Tunky Ariwibowo has ruled out giving the electronics industry special incentives based on local content or a product's brand name, as it has done for the national automotive industry. Tunky said yesterday such incentives were unnecessary because the domestic electronics industry was quite advanced.

Where to go in Bandung:

Where to go in Bandung: Music and Entertainment * Chedi Hotel, Jl. Rancabentang 56-58: Job (Pianist), Monday to Wednesday, 5:30 p.m. to 8 p.m., Irven (Guitar), Monday to Wednesday, 8:30 p.m. to 11 p.m., Mixed Voices Accapela (Singer) and Andi (Pianist), Thursday and Saturday, 8:30 p.m. to 11:30 p.m., Andi (Piano), Friday and Sunday, 5:30 p.m. to 8 p.m., Imelda (Piano), Friday, 8:30 p.m. to 11 p.m., Juli (Pianist), 5 p.m. to 10:30 p.m. * International Imperium Hotel, Jl. Dr. Rum No.

PSN, Telkom sign deal on satellite service

PSN, Telkom sign deal on satellite service JAKARTA (JP): Publicly listed PT Pasifik Satelit Nusantara (PSN) signed a satellite-based service agreement yesterday with its parent firm state-owned domestic telecommunications operator PT Telkom. Under the agreement, which was signed by PSN's president Adi Rahman Adiwoso and Telkom's president Asman A.

RI prepares two doubles players for Fed Cup tie

RI prepares two doubles players for Fed Cup tie JAKARTA (JP): Indonesia is preparing two doubles players for the Fed Cup Asia Oceania Qualifying Group I in Wellington, New Zealand next month.

Between nepotism, professionalism

Between nepotism, professionalism By Ignas Kleden JAKARTA (JP): Nepotism, whether transparent or not, has become a sensitive issue in Indonesia. From the selection of members of the House of Representatives to university management personnel, as is the case with the University of Riau, it appears the primordial tendency toward reliance on family relations is still very strong.

RI books trade deficit

RI books trade deficit JAKARTA (JP): Indonesia's trade deficit with Australia increased 32.5 percent from A$1.04 billion in 1995 to $1.38 billion last year despite an increase in exports to Australia. Harmen Sembiring, a senior official at the Indonesian embassy in Canberra, said yesterday one reason the deficit rose was because Australia's exports grew faster than Indonesia's.

Government urged to open upstream chemical industry

Government urged to open upstream chemical industry JAKARTA (JP): A chemical industry executive asked the government yesterday to open the industry's upstream sector to more competition to boost the downstream sector's development. Indonesian Chamber of Commerce and Industry (KADIN) chemical industry division chairman Azis Pane said downstream chemical industries were developing slowly because upstream industries did not give enough support.

Geothermal seminar in Bali

Geothermal seminar in Bali JAKARTA (JP): IBC Asia Ltd., in cooperation with the International Institute of Geothermal Research and Geothermal Energy Association, will organize a seminar in Bali called "Geothermal Power in Asia '97 Conference" from Feb. 24 to 28. The company announced yesterday geothermal experts from Indonesia, the Philippines, Japan, New Zealand, Turkey, Hong Kong, U.S. and the U.K.

Use zebra crossings!

Use zebra crossings! From Neraca One of the safest places to cross a road is at a clearly marked zebra crossing. But pedestrians are not the only road users that have to be disciplined. Motorists should also have a high sense of discipline. In Jakarta the number of zebra crossings is adequate and are usually found near busy intersections, schools and markets, etc. However, my observation is that zebra crossings are not very effective.

Brothers seek legal aid in grenade case

Brothers seek legal aid in grenade case JAKARTA (JP): A team of lawyers from the Foundation of the Indonesian Legal Aid Institute (YLBHI) will represent two brothers under police suspicion of illegally possessing grenades, the foundation spokesman said yesterday. Dadang Trisasongko said Najib Umar, the owner of a house on Jl. Cililitan Kecil, East Jakarta and his brother, Abdul Aziz Umar Madhie, sought legal help after police found a grenade allegedly belonging to Abdul in Najib's house.

Balinese Hindus observe Galungan

Balinese Hindus observe Galungan JAKARTA (JP): Balinese Hindus celebrated Galungan yesterday to mark the triumph of Dharma (goodness) over Adharma (evil). Balinese from all walks of life wearing colorful traditional costumes flocked to temples for mass prayers during which they also made offerings. Houses and public buildings were decorated with penjor, bamboos colorfully decorated with bunches of paddy, coconuts and other crops symbolizing the prosperity that comes after evil is defeated.

City motorists reject plans for parking fee hike

City motorists reject plans for parking fee hike JAKARTA (JP): Motorists said yesterday raising parking fees up to Rp 5,000 was too high while a consumer advocate said the plan should be canceled. They were responding the announcement of a plan, to increase parking fees by between 100 and 500 percent in certain areas, of the City Parking Agency. In places without parking meters sedans and similar vehicles will be charged Rp 1,000 for one parking period under the proposed plan.

21 die in traffic crashes

21 die in traffic crashes SEMARANG: Central Java Police spokesman Let. Col. Bardja said Tuesday 21 people had died in 13 traffic accidents during the week after the Idul Fitri holiday. Thirty-three other people were injured in the incidents. "The accidents happened in accident-prone areas including Semarang, Salatiga, Kendal, Brebes, Batang, Sragen, Surakarta, Klaten and Kebumen," he said. Reckless driving was the main cause; drivers routinely ignored traffic lights and drove at high speeds.

RI queries AIDS-free certificate

RI queries AIDS-free certificate JAKARTA (JP): An Irian Jaya health official says he doubts the validity of AIDS-free certificates Thailand has issued to its fishermen working in Indonesia. Antara quoted Dr. Gunawan of the Ministry of Health's provincial office as saying in Jayapura yesterday that his office had found Thai fishermen who either had AIDS or were HIV- positive, despite having just come from Thailand and possessing the certificates.

Soeharto touches down in Laos for the first time

Soeharto touches down in Laos for the first time VIENTIANE (Agencies): Indonesia's President Soeharto, on his first ever trip here, was given a royal welcome yesterday for a visit to Laos which is expected to boost its hopes of joining the Association of Southeast Asian Nations (ASEAN) later in 1997. Soeharto received a red-carpet welcome from President Nouhak Phoumsavanh at the presidential palace.

Lucent wins $105m million CDMA deal

Lucent wins $105m million CDMA deal JAKARTA (JP): Analog cellular operator PT Komselindo has awarded a US$105 million contract to Lucent Technologies of the United States to supply and install the country's first commercial Code Division Multiple Access (CDMA) technology.

Astra decides to retain its board of directors

Astra decides to retain its board of directors JAKARTA (JP): Indonesia's biggest carmaker PT Astra International decided to retain its board of directors yesterday ending speculation a change of management was imminent. At an extraordinary general meeting Astra approved a change in its board of commissioners but not its board of directors. As expected Mohamad "Bob" Hasan of the Nusamba Group was appointed as new chief commissioner. Hasan is a close associate of President Soeharto.

Consumers foundation stresses its impartiality

Consumers foundation stresses its impartiality JAKARTA (JP): The Indonesian Consumers Foundation stressed yesterday it received complaints with an open mind so as not to be exploited by business rivals. Foundation chief Tini Hadad said the foundation was always wary of the possibility that a complaint was filed by a business group aiming to discredit competitors.

800 tourists head for E. Timor

800 tourists head for E. Timor DILI, East Timor: A German cruise ship with approximately 800 passengers on board will arrive in Dili, East Timor on Saturday, an official of the state-owned shipping company, Pelni, said yesterday. A.J.P. Ringgu told The Jakarta Post that TTS Albatross' itinerary also included visits to Lahad Datu, Malaysia; Pare Pare, North Sumatra; Ujungpandang, South Sulawesi; Bali yesterday. After Dili the cruise ship is heading to Darwin, Australia. (33/01)

RI could become major business player

RI could become major business player JAKARTA (JP): Indonesia could become a major business player in the Asia-Pacific if its rapid economic growth continued, a senior executive of the Paris-based International Chamber of Commerce (ICC) executive said yesterday. ICC secretary-general Maria Livanos Cattaui said Indonesia's rapid growth in the last 10 years indicated it had the potential to become one of the region's most powerful trading nations.

Evening transport

Evening transport From Pelita I work the evening shift at a private company. When I leave work at 11 p.m. I always have problems finding public transport like PPD, or Mayasari Bhakti bus services. Public transportation is even more scarce after the Idul Fitri holiday, or other public holidays. Some time ago there was evening transport available known under the abbreviation Amari, but it is now nonexistent.

Yakuza may launder $6.1b a year through Australia

Yakuza may launder $6.1b a year through Australia SYDNEY (AFP): The Japanese organized crime syndicate Yakuza could be laundering up to A$7.7 billion (US$6.1 billion) through Australia each year, the National Crime Authority said yesterday. A secret National Crime Authority (NCA) report, extracts of which were published in the Australian Financial Review newspaper, warns there is likely to be "an increase in activity in Australia by members of boryokudan -- or Yakuza -- syndicates".

TV today

TV today TVRI 2:30 a.m Travel: My Country 2:35 TV Series: Family Matters 3:05 Performances: Gerak dan Lagu 3:30 Tour and Travel: Dream of Flight 4:05 Science Film: A Writer's Exchange 4:30 Sports: Olah Raga dan Prestasi 4:55 Filler and Trailer 5:00 Regional News 5:25 Travel: My Country 5:30 Arabic Lessons 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 TVRI News 7:00 Evening News 7:25 Filler and Trailer 7:30 Koran Recital 7:40 Religious Teachings: Islam...

Soeharto's trip to Cambodia seen boosting economic ties

Soeharto's trip to Cambodia seen boosting economic ties PHNOM PENH (Reuter): A landmark visit by Indonesian President Soeharto to Cambodia this week paved the way for a number of agreements aimed at boosting weak economic ties, officials said. The agreements, signed after talks on Tuesday between Soeharto and co-premiers Prince Norodom Ranariddh and Hun Sen, included a trade pact, a memorandum of understanding on oil and gas cooperation and an exchange of notes on a joint commission.

Myanmar responds with force to ethnic rebel group meeting

Myanmar responds with force to ethnic rebel group meeting By Teena Amrit Gill BANGKOK: The Myanmar army has moved swiftly and with a strong show of force, to pre-empt a possible reunion of ethnic minority rebel groups who have voiced support for popular pro-democracy leader and Nobel laureate Aung San Suu Kyi.

Water talks continue at a trickle

Water talks continue at a trickle JAKARTA (JP): Negotiations of planned cooperation between the city-owned water company and private investors are going slowly and might hamper plans to start operations in July. The technical and production manager of PAM Jaya, Rama Boedi, said yesterday many aspects were being discussed so as to ensure mutually beneficial cooperation.

Jakarta jolted by 3 armed robberies

Jakarta jolted by 3 armed robberies JAKARTA (JP): Three burglaries took place in Central Jakarta and East Jakarta yesterday. Central Jakarta Police Chief Lt. Col. M. Ibrahim said the first robbery took place at an office on Jl. Bendungan Jati, Bendungan Hilir, while another was at a house on Jl. Jamrut Raya, Kemayoran. He said four men entered PT Tiga Tirta's office at 6:30 a.m. asking for the address of the office's cleaning lady, Sumiyem, 20.

Japanese aid tops 200m yen

Japanese aid tops 200m yen JAKARTA: Japan is to grant Indonesia 200 million yen (US$1.7 million) in financial aid during the first quarter of 1997, Japanese Ambassador Taizo Watanabe said yesterday. "The assistance to be given in the first quarter of this year is 40 million yen more than that given in the last quarter of 1996," Watanabe said after signing a grant for two non- governmental organizations.

Moody's affirms Freeport's unsecured debt rating

Moody's affirms Freeport's unsecured debt rating NEW YORK (Reuter): Moody's Investors Service confirmed the Ba1 senior unsecured debt ratings of Freeport McMoRan Copper & Gold. The rating action was taken in response to the company's announcement that it had agreed to acquire a fifteen percent interest in each of two Indonesian joint ventures, which will respectively control the mining rights of the Busang II & III gold properties in Kalimantan, Indonesia.

Entrepreneurs asked to renew trademarks

Entrepreneurs asked to renew trademarks JAKARTA (JP): Director General of Copyrights, Patents, and Trademarks S. Kayatmo said yesterday he had given entrepreneurs three months to renew their trademarks, as required by a new regulation. The government instruction, effective as of Feb. 1 states that all trademark renewal applications should be supported with a statement from the authority in charge of the relevant business sector certifying that the marks are being used.

Murderer gets 20 years

Murderer gets 20 years CURUP, Bengkulu: Alamsyah alias Syah bin Murni, aged 23, was sentenced to 20 years yesterday after prosecutors proved his involvement in the robbery and murder of a family in August 1995. Alamsyah committed the crime in Dusun Baru village, Rejang Lebong regency, allegedly together with six others: Zul Kopli, Awan bin Abunawi, Isman bin Misnan, Yaseri, Manbo, and Win, according to Antara.

Indonesia beats India 3-0 in A King Asia Cup match

Indonesia beats India 3-0 in A King Asia Cup match JAKARTA (JP): Indonesia's young shuttlers beat India 3-0 on the opening day of the A King Asia Cup Championship 1997's round- robin match at the Senayan Tennis Indoor Stadium yesterday. Indra Wijaya, world-ranked fourth and finalist of the 1996 Malaysian Open, had to work hard before eliminating India's No. 1 Gopi Chand, finalist of the just-concluded Indian Open, 15-9, 15- 2.

Myanmar and ASEAN

Myanmar and ASEAN Tomorrow President Soeharto will start his two-day visit to Myanmar, the country the West wants ostracized by the civilized world but which ASEAN is ready to accept as a full member. So the visit, beside its overtone of bilateral relations, is overshadowed by Myanmar's imminent membership in ASEAN, which the West opposes. ASEAN currently consists of Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Fruit farmers need banking facilities

Fruit farmers need banking facilities JAKARTA (JP): The country's farmers need banking facilities and more government assistance to improve the quality and production of horticultural products, a seminar heard yesterday. PT Moenaputra president director I Made Donny Waspada, who is a fruit and vegetable distributor, said at a seminar on Indonesian fruit and vegetables that farmers were reluctant to develop horticultural estates because it was hard to get banking facilities.

Detectives get new secretary

Detectives get new secretary JAKARTA (JP): Chief of City Police Detectives Col. Paimin Aboeamr installed yesterday Lt. Col. Sunaryono as his secretary to replace Lt. Col. Gories Mere who was promoted chief of West Java police detectives. Sunaryono was formerly chief of the Serang police precinct in West Java. Paimin Aboeamr said he wanted the detectives to sharpen "their" instincts to anticipate crimes and violence, because it had been on the rise. Paimin also installed yesterday Lt. Col.

Mar'ie firm on customs law date

Mar'ie firm on customs law date JAKARTA (JP): Minister of Finance Mar'ie Muhammad said yesterday the 1995 customs law must come into action by April 1, although some technical matters could be adjusted after that date. He told a hearing of the House Budgetary Commission yesterday he had closely monitored press coverage of concerns raised by businessmen regarding the new laws' ability to do its job.

Garuda's information system

Garuda's information system JAKARTA (JP): National flag carrier Garuda Indonesia has invited transport operators to take advantage of its Information Technology system to boost the industry's competitiveness. Garuda corporation information system vice president Samudra Sukardi said yesterday domestic transport operators would save money by joining Garuda's information system.

Ethnic clashes deplored

Ethnic clashes deplored From Forum Keadilan In response to confusing reports in the media concerning riots in Sanggau Ledo, Bengkayang, Samalantan, and Tujuhbelas (Singkawang), West Kalimantan, we would like to comment on behalf of the community in the remote areas of the province. We deplore the recent events which could threaten the unity and integrity of the nation. It is not true that the riots were the result of social jealousy and the social gap.

ASEAN members urged to consider differences

ASEAN members urged to consider differences JAKARTA (JP): Minister for Investment Sanyoto Sastrowardoyo said yesterday ASEAN should consider its members' economic differences when admitting Cambodia, Laos, and Myanmar as new members. "There are challenges and opportunities for us when ASEAN membership has been expanded with the inclusion of three other prospective members, namely Cambodia, Laos and Myanmar," he said.

DSP refuses to comment on Kutai forest plan

DSP refuses to comment on Kutai forest plan JAKARTA (JP): PT Dwipangga Sakti Prima (DSP) refused to comment yesterday about its reported plan to exploit a vast area of the protected Kutai National Park in East Kalimantan. "We will not comment since what we have is for ours to keep and we don't have to share anything with the public, well not yet anyway," said a company public relations officer who requested anonymity. She also refused to divulge the company's profile or its owners.

Post-riot tension grips Bandung

Post-riot tension grips Bandung BANDUNG (JP): Tension gripped several parts of the city yesterday following a traffic accident and riot Tuesday evening that left four people dead and seven others hospitalized. Residents and passers-by on Jalan Kopo and Jalan Soekarno- Hatta went on a rampage, smashing minibuses plying the Cibaduyut- Cicaheum route, after two people were killed in a traffic accident at 8:30 p.m. Tuesday. In their anger, the mob killed two innocent people.

PDI makes development in its main campaign theme

PDI makes development in its main campaign theme BOGOR, West Java (JP): The Indonesian Democratic Party (PDI) plans to zero in on changes to national development programs during the general electoral campaign from April 27 to May 22.

Idul Fitri boosts housemaid business

Idul Fitri boosts housemaid business By Rahmat Effendi and Rani Lilia Sari JAKARTA (JP): The recent exodus of housemaids and baby- sitters to their hometowns for the Idul Fitri celebrations created a boom for the servant agencies. As routine life returns to Jakarta this week many people find themselves in need of housemaids or baby-sitters because their own have not yet returned from the provinces and some will never show up again. Housemaids and baby-sitters are unpredictable, some complain.

Rights body's counsel

Rights body's counsel The National Commission on Human Rights (Komnas HAM) submitted a four-point list of recommendations to President Soeharto on Jan. 16. The commission's Secretary-General Baharuddin Lopa last week summarized the organization's tentative conclusions regarding the recent outbreaks of unrest in certain areas in this country.

Mien denies mentioning prostitutes in Saudi Arabia

Mien denies mentioning prostitutes in Saudi Arabia JAKARTA (JP): State Minister of Women's Roles Mien Sugandhi has denied ever alleging that hundreds of Indonesian women had been forced into prostitution in Saudi Arabia. Instead, she accused the press of twisting her words in order to set her against Minister of Manpower Abdul Latief, Antara reported yesterday. "Some reporters contrived news so that it sounded as if I said something, when I had not," she said.

Non-smoking flights as of June

Non-smoking flights as of June JAKARTA (JP): The government has banned smoking on domestic flights from June 1, Director General of Air Transportation Zainudin Sikado said yesterday. "Smoking should be banned on all domestic flights of two hours or less," he said, adding that the new ruling would be enforced to comply with the International Civil Aviation Organization's nonsmoking decree.

Skilled labor shortage hits Asian export growth

Skilled labor shortage hits Asian export growth SINGAPORE (AFP): A shortage of skilled labor is restricting export growth in major Asian trading nations, senior company executives across the region said in a survey released here yesterday. "This is especially so in Vietnam, Indonesia, Malaysia, Taiwan and China, where more than six in 10 respondents perceived the problem," said the DHL-Gallup survey, which measures business confidence among exporters.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 19, 1997: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 900 -100 9,000 AHAP Insurance 2,675 0 0 Alter Abadi 1,175 0 31,500 Alumindo Light Metal 1,300 0 143,000 Alumindo Perkasa 775 50 208,500 Andayani Megah 1,025 0 167,500 Aneka Kimia Raya 1,275 -25 86,000 Anwar Sierad 1,875 -25 214,500 Aqua Golden Mississippi 4,350 100 45,000 Argha Karya Prima Industry...

Is Eddy Tansil in Indonesia?

Is Eddy Tansil in Indonesia? From Pikiran Rakyat I hope this letter will serve as a reminder of the Eddy Tansil case, the big time corruptor who escaped from prison last year. Almost one year has passed since Tansil escaped from Cipinang prison in Jakarta with the help of some prison wardens who have since been jailed. But where is Tansil? Justice Minister Oetoyo Oesman said there is a possibility Tansil is in China. The government once tried to trace him there.

Team to check Busang gold deposit: Bob

Team to check Busang gold deposit: Bob JAKARTA (JP): Timber tycoon Mohammad "Bob" Hasan, chief commissioner of Nusamba Group, will send a team to East Kalimantan's Busang regency to check the area next week. "I am sending my people to East Kalimantan within the next week," he said after PT Astra International's extraordinary general meeting. Earlier this week the government approved a proposal to develop the gold find in Busang.

Bill allows govt to control use of nuclear power

Bill allows govt to control use of nuclear power JAKARTA (JP): The nuclear power bill gives the government control over all nuclear-related activities and suggests protective measures to curb possible human and environmental disasters.

Maribeth back in town

Maribeth back in town JAKARTA (JP): After vanishing for two years from the Indonesian music scene, Filipina singer Maribeth B. Pascua who dazzled the nation with her Denpasar Moon song four years ago, is back in Indonesia. She will be performing at Poster Cafe on Jl. Gatot Subroto tonight at 9 p.m.

Ramos to boost ties with OIC

Ramos to boost ties with OIC MANILA (AFP): Philippine President Fidel Ramos said yesterday he would discuss boosting economic ties with India as well as Organization of Islamic Conference (OIC) issues during his South Asian and Middle East tour. Speaking ahead of his swing next month, Ramos said India's economy was expanding rapidly and that there "could be much complimentarity between our two economies." He did not however specify the areas where the two countries could work together.

Yen depreciation helps reduce RI foreign debt

Yen depreciation helps reduce RI foreign debt JAKARTA (JP): Minister of Finance Mar'ie Muhammad said Indonesia's offshore debts would continue to decrease along with the steady depreciation of the Japanese yen against the U.S. dollar. Mar'ie said at a hearing of the House Budgetary Commission yesterday that depreciation of 1 yen against the U.S. greenback would reduce Indonesia's foreign debt by US$33 million.