Indonesian Political, Business & Finance News

Archive: 30 July 1997

67 articles found

Albright moves to smooth ties with RI

Albright moves to smooth ties with RI KUALA LUMPUR (Reuter): U.S. Secretary of State Madeleine Albright sought on Monday to smooth strained ties with Indonesia, assuring its foreign minister of Washington's desire for a "very close" relationship.

Sporting behavior?

Sporting behavior? Indonesians have no lack of excitement. Every day something happens, sometimes nice but most of the time unpleasant. We have witnessed fires which have swept through villages and made hundreds of people homeless, we have read about tragic air accidents in which the crew and...

Govt, WB deny alleged wastage of loan funds

Govt, WB deny alleged wastage of loan funds JAKARTA (JP): The government and the World Bank separately denied yesterday allegations that one-third of the Washington- based bank's loans to Indonesia since 1965 have been wasted through collusion and corruption.

CSI launches new open-end mutual funds

CSI launches new open-end mutual funds JAKARTA (JP): PT Citicorp Securities Indonesia (CSI), a Citibank N.A. subsidiary, launched yesterday a new open-end mutual fund, Citireksadana Rupiah.Citibank's vice president of global consumer banking, Omar S.

PNG's new premier pledges to bring peace

PNG's new premier pledges to bring peace PORT MORESBY (Reuter): Papua New Guinea's newly elected Prime Minister Bill Skate vowed yesterday to find a lasting, peaceful solution to the secessionist rebellion on Bougainville island and to wipe out political corruption.

New council chief for E. Timor

New council chief for E. Timor DILI, East Timor: Armindo Soares Mariano, former chief of Golkar's East Timor chapter, was inaugurated on Monday as the new chief of the East Timor provincial legislative council.He took an oath before E.L.

Battery maker Trimitra gets ISO 9001 award

Battery maker Trimitra gets ISO 9001 award JAKARTA (JP): Car battery manufacturer PT Trimitra Baterai Prakasa, a subsidiary of Gemala Group, received yesterday ISO 9001 certification for quality management design from Germany's TUV Rheinland in Jakarta.

BPK Penabur in Cikarang

BPK Penabur in Cikarang JAKARTA (JP): PT Graha Buana Cikarang, developer of Cikarang Baru Kota Hijau housing complex, has handed over a plot of land to BPK Penabur Foundation for the establishment of school facilities.

Vendors face jail terms for rioting

Vendors face jail terms for rioting JAKARTA (JP): A state prosecutor asked the Central Jakarta District Court yesterday to sentence four sidewalk vendors to between 10 and 18 months' imprisonment for their role in the Tanah Abang market riot in January.

Indonesia welcomes Mandela's offer on E. Timor

Indonesia welcomes Mandela's offer on E. Timor JAKARTA (JP): Indonesia welcomed yesterday Nelson Mandela's offer to help with the United Nations' efforts to find a peaceful settlement to the question of East Timor.

'Politics may derail Philippine growth'

'Politics may derail Philippine growth' MANILA (Agencies): President Fidel Ramos said yesterday early campaigning for the presidential election would derail the Philippines' economic momentum.He expressed concern that campaigning by a dozen people girding up to run in the May 1998 election and...

Failure in further talks obstructs subway project

Failure in further talks obstructs subway project BANGKOK, Thailand (JP): The absence of a negotiating partner for the government is holding up construction of the long-awaited subway, chairman of the subway's consortium said yesterday.

TV today

TV todayTVRI 2:30 p.m. News: Lintas Nusantara 2:40 Travel: My Country 2:45 Family's Film: Big Brother Jake 3:10 Children's Program: Anak-Anak Indonesia 3:35 Talk Show: Kotak Pos 4:00 Regional News 4:30 Education Quiz: Cepat Tepat 5:10 TV Series: Topacio 5:55 Music 6:00 News: Lintasan Berita 6:05...

ASEAN suffering 'growing pains' at 30

ASEAN suffering 'growing pains' at 30By Gwen Benjamin KUALA LUMPUR (DPA): As ASEAN turns 30 this year, its long- cherished ambition of building a peaceful and prosperous Southeast Asia is being stunted by the actions of its new family members.

Lippo Life reports strong results

Lippo Life reports strong results JAKARTA (JP): Publicly listed Lippo Life reported yesterday a 500 percent increase in its operating profit in the first half of this year to Rp 69.8 billion (about US$27.9 million) from Rp 13.7 billion in the first half of 1996.

Hashim uses his own resources to buy Bank Niaga

Hashim uses his own resources to buy Bank Niaga JAKARTA (JP): Hashim Djojohadikusumo, chairman of the widely diversified Tirtamas Group, said yesterday his group would use its own cash reserves and sell some of its assets to buy 50 percent of publicly listed Bank Niaga for about Rp 756.

1,500 hooligans still at Senayan

1,500 hooligans still at Senayan JAKARTA (JP): At least 1,500 Surabaya soccer hooligans, locally known as bonek, were still being "secured" at Senayan Stadium yesterday, waiting for their free-ride home to the East Java capital.City Police spokesman Lt. Col. E.

SEA Games marksmen still lead Kapolri Cup

SEA Games marksmen still lead Kapolri Cup JAKARTA (JP): Indonesia's 19th Southeast Asian (SEA) Games shooters continued to dominate on the second day of the seventh Kapolri Cup and 1997 Bhayangkara Cup shooting championships.

PSM profit soars in first half

PSM profit soars in first half JAKARTA (JP): PSP group finance company PT Putra Surya Multidana (PSM), reported a 435 percent net profit increase in the first half this year to Rp 101.07 billion from Rp 18.87 billion in the first half of 1996.

Foreign books available at IKAPI exhibition

Foreign books available at IKAPI exhibition JAKARTA (JP): Foreign publishers will be allowed to sell a limited number of books during a major international book exhibition in September, organizers said yesterday.

Satelindo promises to pay double billings

Satelindo promises to pay double billings JAKARTA (JP): Cellular phone operator PT Satelindo's president, Iwa Sewaka, promised yesterday his company would compensate customers for recent billing errors.

Late paper

Late paperDue to technical problems with the editorial and preprinting process, The Jakarta Post reached its readers in Bandung and Bandarlampung late yesterday. We apologize for the delay. -- Publisher

Indofood: Eroding nationalism or new trend?

Indofood: Eroding nationalism or new trend?By Djisman S. Simandjuntak JAKARTA (JP): The proposed spin-off of Indofood Sukses Makmur (ISM) from Indocement Tunggal Prakarsa (ITP) and its acquisition by QAF, a Singapore-based Asian food conglomerate with Salim Group's majority ownership, has sparked...

Albright arrives in Singapore

Albright arrives in Singapore SINGAPORE (AFP): U.S. Secretary of State Madeleine Albright arrived yesterday on a two-day trip aimed at strengthening bilateral ties with Singapore, a strong supporter of U.S. military presence in Asia.She was scheduled to tour the local manufacturing facility of U.S.

Investment firms named in Bre-X lawsuit

Investment firms named in Bre-X lawsuit HOUSTON (Reuter): Investment firms J.P. Morgan & Co, Lehman Brothers Inc and Nesbitt Burns Inc have been named as defendants in a shareholder lawsuit charging Canada's Bre-X Minerals Ltd with mining fraud.

Pino Bahari excluded from RI's SEA Games boxing team

Pino Bahari excluded from RI's SEA Games boxing team JAKARTA (JP): Indonesia's light heavyweight boxer Pino Bahari was left out of the 19th Southeast Asian (SEA) Games team yesterday.The Indonesian Amateur Boxing Association's chairman, Poul Toding, said the decision was made based on observations...

Inco cuts '97 nickel output plan

Inco cuts '97 nickel output plan TORONTO (Reuter): Inco Ltd revised yesterday 1997 nickel production plan down to 413 million pounds from a previous estimate of 430 million pounds.Toronto-based Inco said the revision took into account the 26- day strike at its Ontario division, which ended on June...

Researchers advised to patent invention

Researchers advised to patent invention CIBINONG, West Java (JP): Vice President Try Sutrisno called on researchers to register their inventions with the Ministry of Justice.There was a lack of knowledge about the need to patent inventions, Try said during an address at a meeting of the Indonesian...

EU concerned over U.S. moves on RI

EU concerned over U.S. moves on RI BRUSSELS (AFP): The European Union yesterday expressed concern about a growing trend for U.S cities and states to consider legislation to penalize companies with links to countries like Myanmar and Indonesia.

Government wants to review 1982 press law: Hartono

Government wants to review 1982 press law: Hartono JAKARTA (JP): The government is seeking to review the 1982 press law to avoid contradictions in a proposed law on broadcasting, Minister of Information R. Hartono said yesterday.

Each countries has its own human rights view

Each countries has its own human rights viewBy Ida Indawati Khouw JAKARTA (JP): Indonesia usually deflects criticism of its human rights record by stating that it adheres to its own concept, focused on universal values but also taking into account local considerations.

7 arrested for killing sergeant

7 arrested for killing sergeant UJUNGPANDANG, South Sulawesi: Police have arrested seven people they suspect of murdering Sgt. Maj. Syamsuddin last week.The suspects were arrested in Masamba, about 500 kilometers north of here on Sunday, police said yesterday.

Trial of journalist murder case begins

Trial of journalist murder case begins YOGYAKARTA (JP): The trial of alleged journalist killer Dwi Sumaji began in the Bantul District Court yesterday amid tight security.Security forces, stationed in front of the court gate, examined every person attending the opening session to avoid disruption...

Asia-West delegates clash on human rights

Asia-West delegates clash on human rightsBy Meidyatama Suryodiningrat PETALING JAYA (JP): A clash over human rights closed the two- day Post Ministerial Conference (PMC) here yesterday, as Western states were pitted against Asian ones in a public debate over reviewing the United Nations Declaration...

Sutoyoso tells Jakartans to maintain current stability

Sutoyoso tells Jakartans to maintain current stability JAKARTA (JP): Jakarta Military Commander Maj. Gen. Sutiyoso has appealed to Jakartans to keep maintaining current favorable conditions of the capital."If we ease up even a little bit, problems and menaces...

Newcrest to produce gold in RI

Newcrest to produce gold in RI KALGOORLIE, Australia (Reuter): Newcrest Mining Ltd said yesterday it expects to produce 150,000 ounces of gold annually from its Gosowong project in Indonesia at an average cash cost of US$150 an ounce.

Seminar held to woo Thai investors

Seminar held to woo Thai investorsBy Ati Nurbaiti BANGKOK (JP): Indonesian business entrepreneurs seeking cooperation opportunities in Thailand are not discouraged by Thailand's current economic problems.

Where to go in Jakarta:

Where to go in Jakarta:Music * The Regent Hotel: Jl. Rasuna Said, Kuningan, South Jakarta: - Garden Terrace: Indonesia's Top Musicians, Friday and Saturday,, 9.30 p.m. to 1 a.m. - Pool Side: Sahata Vocal Group, Saturday, 6.30 p.m. to 9 p.m. * Holiday Inn Crowne Plaza, Jl. Gatot Subroto Kav.

Australia and RP to talk security

Australia and RP to talk security KUALA LUMPUR (Reuter): Australia and the Philippines announced yesterday closer cooperation in three areas, including the establishment of formal bilateral security talks, foreign ministers from the two countries said.

Thai borrowing from IMF inevitable: Analyst

Thai borrowing from IMF inevitable: AnalystBy Anchalee Koetsawang BANGKOK (Reuter): Rapid loss of investor confidence, festering economic wounds and heavy local pressure will inevitably force Thailand to take more than just IMF advice -- possibly loans or a credit line, analysts said on Monday.

Promote religious tolerance, President reiterates

Promote religious tolerance, President reiterates JAKARTA (JP): President Soeharto said yesterday he hoped Indonesia would become a center for excellence in Islamic studies, with its strong commitment toward tolerance and democracy.

SE Asian moneys rise, then fall with baht

SE Asian moneys rise, then fall with baht BANGKOK (Reuter): Southeast Asian currencies ended higher but below their best levels yesterday with the Thai baht giving up an early strong gain as operators took the opportunity to hoover up cheaper U.S. dollars.

The promises and limits of cloning

The promises and limits of cloningBy Mochtar Buchori JAKARTA (JP): Decades ago, the late, great Isaac Asimov (1920 to 1992), a Russian-born American scientist and prolific writer, coauthored a doggerel verse with Randall Garrett, which reads as follows:Oh, give me a cloneOf my own flesh and...

Crash courses not compulsory, says Harmoko

Crash courses not compulsory, says Harmoko JAKARTA (JP): Crash courses for future House of Representatives members are not mandatory, the state minister of special assignments, Harmoko, said yesterday.Prospective House members who do not attend the courses will not face punitive action, said...

Will manpower bill create trouble?

Will manpower bill create trouble?By Kastorius Sinaga JAKARTA (JP): In a hearing on the manpower bill between Forum Nusantara 1928 and the special committee of the Development Functional Faction (FKP) on July 4, an FKP member said the manpower bill resembled a "supermarket bill".

AIDS prevention clinic for Bali

AIDS prevention clinic for Bali DENPASAR, Bali: The Australian government will finance an AIDS prevention and information program in Bali, in association with the East Nusa Tenggara and South Sulawesi provinces.

Sports council strives to get more Games funds

Sports council strives to get more Games funds JAKARTA (JP): The National Sports Council said yesterday it would have to borrow money for Southeast Asian (SEA) Games training because of a cash shortage.National training director Djoko Pramono said the council had so far got only Rp 16.

Eman new speaker of Bogor council

Eman new speaker of Bogor council BOGOR (JP): Eman Akman of the Golkar faction was elected yesterday as new speaker of the Bogor City Council for the 1997/2002 office term, replacing Eddy Surjaman.Eman, who hails from Kuningan, West Java, will be assisted by two deputy speakers -- Pulman Hasibuan...

Through the looking glass

Through the looking glassFrom SinarThe dialog between Sinar and psychic Ki Ageng Selo (Sinar No. 43/Tahun IV, 19 Juli 1997) concerning the turmoil predicted to be taking place in 1997, and the emergence of a "hidden hero/heroine" interests me.

BNI's new management team

BNI's new management team JAKARTA (JP): Shareholders of state-owned publicly listed Bank Negara Indonesia (BNI) yesterday approved a new board of directors at an extraordinary general meeting, with Widigdo Sukarman remaining president director.

World Bank loans

World Bank loans The Washington-based World Bank has been accused of many notorious acts, including raking big profits from its lendings to poor nations. But none of the accusations went as far as the criticism by American professor Jeffrey A.

BI sells $1b to stabilize the rupiah

BI sells $1b to stabilize the rupiah JAKARTA (JP): Bank Indonesia Governor J. Soedradjad Djiwandono said yesterday that the central bank had sold US$1 billion on the forward market to stabilize the rupiah.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 29, 1997: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 1,075 -25 43,000 AHAP Insurance 2,500 0 0 Alter Abadi 1,100 0 76,500 Alumindo Light Metal 1,350 0 297,000...

BMW sales in Asia surge

BMW sales in Asia surge SINGAPORE (AFP): German auto-maker BMW said yesterday its car sales in Asia, excluding Japan, surged 30 percent above the previous year to 13,453 units in January-June despite a slowdown in Thailand and South Korea.

Tycoons and cooperatives

Tycoons and cooperatives To ensure enterprises develop pursuant to Article 33 of the Constitution of 1945 and the Law on Cooperatives, I suggest that business tycoons consider the following options:a. Establish limited-liability companies which will provide permanent infrastructure such as...

Air Force chief recommends Sukhoi-30 planes

Air Force chief recommends Sukhoi-30 planes JAKARTA (JP): Air Force Chief of Staff Marshal Sutria Tubagus said yesterday that he had recommended the government choose Russian built Sukhoi-30 over other fighter planes, Antara reported.

Surjadi asks people to conserve water

Surjadi asks people to conserve water JAKARTA (JP): Governor Surjadi Soedirdja reiterated yesterday the importance of saving water during the current dry season, urging middle and upper-class people to pay attention to his call.

Thai Airways to add Indonesian flights

Thai Airways to add Indonesian flights JAKARTA (JP): Thai Airways International will start a new service route this year linking Bangkok, Jakarta, and Sydney, the company announced yesterday.The airline's general manager for Indonesia, Sarieng Maneelert, said the new route would start Oct.

Police officers get houses in Tangerang

Police officers get houses in Tangerang JAKARTA (JP): National Police Chief Gen. Dibyo Widodo inaugurated 310 houses at the police-owned Pondok Daru Permai complex at Daru village in Tigaraksa, Tangerang, yesterday.

Analysts see wastage of WB loan funds

Analysts see wastage of WB loan funds JAKARTA (JP): Two analysts shared American economist Jeffrey A. Winters' view yesterday that World Bank loan funds in Indonesia are grossly wasted through collusion and corruption.

Arifin raises to the tough U.S. challenge

Arifin raises to the tough U.S. challengeBy Yenni Djahidin WASHINGTON D.C. (JP): He is regarded as a good diplomat by many in Washington, D.C. He is bright, articulate and willing to listen to different views.

Three men die of gas poisoning

Three men die of gas poisoning JAKARTA (JP): Three men were killed by poisonous gas emitted from a well in a house in Tangerang on Monday, police said yesterday.They died one by one as each climbed into the well in an attempt to rescue the other, Jakarta Police spokesman Lt. Col. E. Aritonang said.

Thai bank to seek IMF help

Thai bank to seek IMF help BANGKOK (AFP): Bank of Thailand governor Chaiyawat Wibulswasdi vowed just hours after being appointed yesterday to seek IMF assistance to restore confidence in the troubled economy.

Fire leaves 80 families homeless

Fire leaves 80 families homeless JAKARTA (JP): Fire razed dozens of houses in a densely populated area of North Kebayoran Lama, South Jakarta, yesterday, City Police spokesman Lt. Col. E. Aritonang said.

Spotlight

SpotlightPhoto A: RadioRadio SonoraON-AIR ANNIVERSARY: Chief of the Airborne Police Col. Frans Wenas tries out International Maritime Satellite (Inmarsat) telecommunications equipment by making a call to colleagues on Batam Island in Riau.

Cambodia hails ASEAN initiative

Cambodia hails ASEAN initiativeBy Santi WE Soekanto PETALING JAYA, Malaysia (JP): An ASEAN ministerial mission led by Indonesian Minister of Foreign Affairs Ali Alatas will go to Phnom Penh to engage in "silent diplomacy" after receiving confirmation yesterday that they would be welcomed by...

Asian crude steady but Oman stronger

Asian crude steady but Oman stronger SINGAPORE (Reuter): Thin trading on Asian crudes kept prices steady, traders said yesterday.But healthy buying was seen for Oman, narrowing the crude's discount to its official price.A French major heard sold Oman at MPM -6 cents per barrel.