Archive: 10 January 1998
66 articles found
Sat, 10 Jan 1998
Brazil imports Indonesian cocoa
Brazil imports Indonesian cocoa RIO DE JANEIRO (Reuters): Brazil recently imported some 12,000 tons of Indonesian cocoa beans, its first cocoa purchase since October and likely to be the last for the current crop in the key state of Bahia, industry sources said Thursday.
Sat, 10 Jan 1998
Asian turmoil won't spark global depression: Fed
Asian turmoil won't spark global depression: Fed WASHINGTON (AFP): Federal Reserve board governor Laurence Meyer said here Thursday that financial turmoil in Asia would hold back U.S. economic growth in 1998 but would not provoke a global depression.
Sat, 10 Jan 1998
Makindo makes favorable capital market debut
Makindo makes favorable capital market debut JAKARTA (JP): PT Makindo, one of the country's major securities companies, made a successful capital market debut yesterday, with its shares gaining 15 percent during the first day of their listing on the Jakarta Stock Exchange (JSX).
Sat, 10 Jan 1998
ABRI delays all arms purchase plans
ABRI delays all arms purchase plans JAKARTA (JP): The Armed Forces (ABRI) made a surprising decision yesterday to delay all planned arms purchases, including the Russian Sukhoi-30K jet fighters.Armed Forces spokesman Brig. Gen. A.
Sat, 10 Jan 1998
RI-flagged ships prioritized to carry rice
RI-flagged ships prioritized to carry rice JAKARTA (JP): State Logistics Agency (Bulog) chairman Beddu Amang promised that the agency would prioritize Indonesian- flagged vessels to carry rice imports.Beddu said the agency would soon coordinate with the Indonesian National Shipowners Association...
Sat, 10 Jan 1998
Asian currency trading quiet, waiting for Indonesia's move
Asian currency trading quiet, waiting for Indonesia's move SINGAPORE (Reuters): Asian currency trading was subdued yesterday despite frenzied selling of stocks as wild rumors about central bank interventions and looming debt moratoria pared activity to a minimum.
Sat, 10 Jan 1998
Drug addict caught in toilet
Drug addict caught in toilet JAKARTA (JP): An alleged drug addict has been arrested in the toilet at a shopping mall on Jl. Cokroaminoto in the Menteng area in Central Jakarta, City Police spokesman Lt. Col. E. Aritonang said yesterday.
Sat, 10 Jan 1998
Mitsubishi to close Thai factory
Mitsubishi to close Thai factory BANGKOK: Mitsubishi will close a Thailand factory set up to build pickup trucks specifically for the Thai market and will move the domestic-bound output to another facility making trucks for export.
Sat, 10 Jan 1998
Solid waste to be recycled
Solid waste to be recycled SEMARANG, Central Java: The administration will soon build a solid waste recycling industry near the Jatibarang landfill in Mijen subdistrict, Antara reported yesterday."The industry is needed as the city produces 4,900 cubic meters of solid waste per day," said Miswan,...
Sat, 10 Jan 1998
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Jan. 9, 1998: Buying Selling Rp Rp U.S dollar 7,100.00 9,100.00Austrian shilling 553.10 679.90Australian dollar 4,695.30 5,394.60Belgian franc 193.40 225.70Canadian dollar 5,118.80 5,850.30Swiss franc 4,966.
Sat, 10 Jan 1998
Woman found hanged in police hospital
Woman found hanged in police hospital JAKARTA (JP): A woman was found hanged in a ward of the R.S. Soekanto Police Hospital in Kramat Jati, East Jakarta, yesterday morning.Andi Nuraida, 39, who was under medical treatment since Wednesday after being attacked by residents while she attempted to kill...
Sat, 10 Jan 1998
CBA-BII joint venture stalled by crisis
CBA-BII joint venture stalled by crisis SYDNEY (Reuters): Commonwealth Bank of Australia (CBA) said yesterday its Indonesian banking joint venture, launched in July last year, has failed to attract any business because of the economic crisis there.
Sat, 10 Jan 1998
Motorcyclist's moral crisis
Motorcyclist's moral crisis My name is Carolina Ratnawati. I am a student. I would like to relate an unpleasant experience I had with a fellow road user who was riding a motorcycle on Jl. Wahid Hasyim on Jan 7.It was 6 p.m. and the traffic toward Tanah Abang Bukit was fairly jammed.
Sat, 10 Jan 1998
Don't up prices at will!
Don't up prices at will!From NeracaThe government has announced that it will not increase pay rates for civil servants, Armed Forces members and retired personnel. But many traders have started increasing commodity prices, saying it is due to the monetary crisis.
Sat, 10 Jan 1998
Violators tried in the back of bus
Violators tried in the back of busBy Joko Sarwono BOGOR (JP): A sidewalk vendor from Padang, West Sumatra, picked the wrong street to set up shop.Armansyah, 31, was apprehended while selling clothing on Jl. Merdeka during a clean-up operation initiated by the Bogor mayoralty.
Sat, 10 Jan 1998
KL finds way to push rubber yield, not price
KL finds way to push rubber yield, not price KUALA LUMPUR (Reuters): Malaysia has found a way to boost its rubber harvest by up to four times natural yield, but failed to improve prices, Primary Industries Minister Lim Keng Yaik said yesterday.
Sat, 10 Jan 1998
Japanese creditors fret over Indonesia domino effect
Japanese creditors fret over Indonesia domino effect TOKYO (Reuters): The prospect that Indonesia might declare a debt moratorium is striking fear among Japanese creditors, who hold the lion's share of debt in the Southeast Asian nation.
Sat, 10 Jan 1998
Honest driver
Honest driver On Jan. 4, 1998, I took a Silver Bird taxi from my home in Kemang to Gambir train station for a quick getaway to Bandung. You can imagine my disappointment when I realized I had lost my camera.
Sat, 10 Jan 1998
Taiwan food company cautious on SE Asia
Taiwan food company cautious on SE Asia TAIPEI (Reuters): Taiwan food giant President Enterprises said yesterday it was temporarily suspending all investment projects in Southeast Asia due to currency volatility and high risks there.
Sat, 10 Jan 1998
IDT funds slow to reach families
IDT funds slow to reach families DILI, East Timor: Channeling of the state-sponsored IDT funds for the eradication of poverty here is too slow, a senior government official said here Thursday.Mubyarto, an assistant to State Minister of National Development Planning Ginandjar Kartasasmita, said the...
Sat, 10 Jan 1998
Monetary crisis donation
Monetary crisis donationFrom KompasWe are now in 1998, which is a year of monetary crisis. The crisis, which, in fact, began to be felt in July 1997, has affected not only business sectors financed by U.S. dollar loans but also free-lance workers and the logistics sector of households.
Sat, 10 Jan 1998
Rupiah plunge hits gymnastics body's programs
Rupiah plunge hits gymnastics body's programs JAKARTA (JP): The rupiah's collapse continued to take a toll on sports organizations yesterday with the Indonesian Gymnastics Association announcing it was to send home one of its two remaining Russian coaches.
Sat, 10 Jan 1998
PHRI predicts gloomy year for tourism
PHRI predicts gloomy year for tourism JAKARTA (JP): Indonesian tourism may suffer again this year from the political impact of the upcoming presidential election in March, the chairman of the Indonesian Hotel and Restaurant Association (PHRI), Pontjo Sutowo, has said.
Sat, 10 Jan 1998
Singapore-listed firms with RI links sidelined
Singapore-listed firms with RI links sidelined SINGAPORE (Reuters): Singapore-listed companies with Indonesian links have been mostly sidelined by investors as Jakarta's crisis intensified, investment analysts said yesterday.
Sat, 10 Jan 1998
GMBI buys out Garmak Motor from Probosutedjo
GMBI buys out Garmak Motor from Probosutedjo JAKARTA (JP): General Motors Buana Indonesia (GMBI), the local branch of American auto giant General Motors (GM), confirmed yesterday that it had bought out its Indonesian partner, Garmak Motor, owned by President's Soeharto's half-brother Probosutedjo.
Sat, 10 Jan 1998
Crisis beats metals demand in Indonesia
Crisis beats metals demand in Indonesia SINGAPORE (Reuters): Base metals demand in Indonesia has taken a savage mauling from the currency crisis and Asian dealers said yesterday they doubt if any real recovery is possible this year."The situation is very poor. Customers are canceling projects.
Sat, 10 Jan 1998
Book prices rise by 10 percent
Book prices rise by 10 percent JAKARTA (JP): The price of books in city bookstores has risen by an average of 10 percent, mainly due to the scarcity of paper stock."The 10 percent increase does not only affect new school books and books on general sciences, but also used books," said Ronald Edward,...
Sat, 10 Jan 1998
Dollar hoarding
Dollar hoarding In view of present currency scenario, the majority of exporters, corporations and individuals are holding dollars in their accounts and avoiding conversion to the local currency, thereby enhancing the scarcity of dollars in the market which is pushing the rupiah further downwards.
Sat, 10 Jan 1998
S&P lowers Jasindo rating
S&P lowers Jasindo rating LONDON (Reuters): Standard and Poor's Corp said yesterday it downgraded the claims-paying and issuer credit ratings of Indonesia's PT Asuransi Jasa Indonesia (Jasindo) to BBB minus from BBB.
Sat, 10 Jan 1998
Mahathir sees 'moderate' recovery within a year
Mahathir sees 'moderate' recovery within a year KUALA LUMPUR (AFP): Prime Minister Mahathir Mohamad said yesterday that the battered Malaysian currency should return to "moderate" levels in six to 12 months if people cooperate by tightening their belts.
Sat, 10 Jan 1998
No decree on rights: Assembly
No decree on rights: Assembly JAKARTA (JP): Hopes that human rights would be placed on an exclusive plane died yesterday as a People's Consultative Assembly committee decided to close the book on appeals to issue an unprecedented decree on human rights.
Sat, 10 Jan 1998
Tutut launches 'Love Rupiah' drive
Tutut launches 'Love Rupiah' drive JAKARTA (JP): President Soeharto's eldest daughter, Siti Hardiyanti Rukmana, sold U.S. dollars for rupiah yesterday in a highly publicized bid to restore confidence in the local currency.
Sat, 10 Jan 1998
Traffic toll grim in Ho Chi Minh City
Traffic toll grim in Ho Chi Minh City HANOI (DPA): Up to 300 traffic accident victims per day are brought in to Ho Chi Minh City's main hospital during Vietnam's extended holiday season, doctors said yesterday.
Sat, 10 Jan 1998
The panic buying
The panic buying The government's strong and fast move to flood the market with stocks of basic necessities is indeed the most effective way of coping with the panic buying in several cities which was triggered on Thursday by the collapse of the rupiah's exchange rate against the American dollar to...
Sat, 10 Jan 1998
Ramadhan time for Jakarta
Ramadhan time for JakartaSaturdayMaghrib 6:16 p.m.SundayImsak 4:15 a.m.Subuh 4:25 a.m.
Sat, 10 Jan 1998
KLM, MAS set to enter partnership
KLM, MAS set to enter partnership AMSTERDAM (Reuters): KLM Royal Dutch Airlines said yesterday it expected to reach a code-sharing agreement soon with Malaysia Airlines.The deal would be another link in KLM's Asia-Pacific chain, increasing its destinations in Australia and would offer Malaysia...
Sat, 10 Jan 1998
Almost 60% of RI debt short-term, says BIS
Almost 60% of RI debt short-term, says BIS ZURICH (Reuters): Almost 60 percent of Indonesia's debt to major international banks is short-term, slightly below the Asian average of 62 percent, figures from the Bank for International Settlements (BIS) show.By the end of June 1997, Indonesia owed $58.
Sat, 10 Jan 1998
Rupiah strengthens on reform commitment
Rupiah strengthens on reform commitment JAKARTA (JP): The rupiah bounced back more than 20 percent at its peak yesterday, after a dramatic collapse Thursday, thanks to the central bank's support and various positive news in the market.Currency dealers said sentiment had improved after U.S.
Sat, 10 Jan 1998
'We have more than enough rice'
'We have more than enough rice' JAKARTA (JP): The government called on people not to panic yesterday, assuring them the country had a large supply of basic food commodities, including rice, to last until March.
Sat, 10 Jan 1998
RI woes overshadow Thailand credit cut
RI woes overshadow Thailand credit cut NEW YORK (Reuters): Thailand's financial assets came under another round of pounding Thursday, as the meltdown of Indonesian markets sent fresh shock waves through the region, U.S.-based traders and analysts said.
Sat, 10 Jan 1998
Yamaha to cut RI's output
Yamaha to cut RI's output TOKYO (AFP): Japan's Yamaha Motor Co. Ltd. will slash its 1998 motorcycle output in Indonesia and Thailand in line with its decision to freeze new investment in the crisis-hit region, a spokesman said yesterday.
Sat, 10 Jan 1998
British zoo returns rhino
British zoo returns rhino BANDAR LAMPUNG, Lampung: A two-horned Sumatran rhino (Dicerorhinus sumatranus), which has been living in London's Hawlett Zoo for the past 11 years, has been returned to its habitat at the Way Kambas National Park in Lampung, South Sumatra.
Sat, 10 Jan 1998
Singapore's safe haven image shattered: Analysts
Singapore's safe haven image shattered: Analysts SINGAPORE (Reuters): A 340-point stock market plunge and a seven-year low for its sagging currency this week has shattered Singapore's reputation as a safe haven from Asia's financial maelstrom, analysts said yesterday.
Sat, 10 Jan 1998
Students protest rising prices
Students protest rising prices UJUNGPANDANG, South Sulawesi: Fifty university students and more than a dozen vendors demanded Thursday local legislators help check the escalating price of basic daily needs.
Sat, 10 Jan 1998
Car prices skyrocket as rupiah tumbles
Car prices skyrocket as rupiah tumblesBy John Aglionby THE RUPIAH's rapid disappearance into the realms of Monopoly money is putting the skids under practically every industry in Indonesia, and the automotive sector is no different.
Sat, 10 Jan 1998
Second dead baby found this year
Second dead baby found this year JAKARTA (JP): A newborn girl, estimated to be a day old, was found dead yesterday in the back of an office bathroom in North Jakarta's Tanjung Priok port.The baby was found by an employee at PT Indocement's warehouse No. 114 in the harbor compound.
Sat, 10 Jan 1998
Police detective dies in possible suicide
Police detective dies in possible suicide JAKARTA (JP): A police detective died on the way to the hospital after being found in West Jakarta Thursday with a single gun-shot wound to his forehead.The detective, Second Sgt.
Sat, 10 Jan 1998
Asia-Pacific stocks plummet
Asia-Pacific stocks plummet HONG KONG (AFP): Asia-Pacific stocks plummeted yesterday at the end of a torrid first week of trading in the new year with no let-up in a crisis of confidence plaguing regional financial markets.Manila led the decliners with a loss of 8.
Sat, 10 Jan 1998
Komatsu rules out plan of pulling out from Indonesia
Komatsu rules out plan of pulling out from Indonesia TOKYO (Reuters): Komatsu Ltd , a top Japanese maker of construction machinery, yesterday played down worries in the financial markets that the accelerating currency crisis in Asia would deal a heavy blow to its business.
Sat, 10 Jan 1998
Governor urges wealthy people to stop hoarding
Governor urges wealthy people to stop hoarding JAKARTA (JP): Governor Sutiyoso yesterday blamed upper- and middle-class Jakartans for helping spark Thursday's panic buying spree which has caused a scarcity of certain food commodities in the city.
Sat, 10 Jan 1998
Boral raises RI stake
Boral raises RI stake SYDNEY (Reuters): Building products group Boral Ltd said yesterday it had increased its share in Indonesian concrete company PT Jaya Readymix to 90 percent from 50 percent. Terms were not disclosed.
Sat, 10 Jan 1998
PSSI awaits sponsor for league competitions
PSSI awaits sponsor for league competitions JAKARTA (JP): The Indonesian Soccer Association (PSSI) is still waiting for a reply from its promoter to find a main sponsor for the Indonesian league competitions.
Sat, 10 Jan 1998
KL logs $152m trade surplus
KL logs $152m trade surplus KUALA LUMPUR (AFP): Malaysia logged a trade surplus of 700 million ringgit (US$152 million) in November against a deficit of 300 million ringgit a year earlier, the statistics department said yesterday.Exports grew by 30.9 percent to 11.
Sat, 10 Jan 1998
PRICELIST
PRICELIST Latest available prices of a selection of new cars on sale in Indonesia. Prices in millions of rupiah. All on the road except Mercedes. To convert add about 25 percent of cost. (Data correct at time of going to print.) From To Toyota Kijang Baru 37.2 64.75 Kijang Jantan Raider 54.
Sat, 10 Jan 1998
C-C Amatil has yet to feel RI impact
C-C Amatil has yet to feel RI impact SYDNEY (Reuters): Coca Cola Amatil Ltd, the Australian-based bottler heavily exposed to Indonesia, said yesterday the economic crisis developing there had yet to affect the group's operations.
Sat, 10 Jan 1998
Susi withdraws from Japan Open
Susi withdraws from Japan Open JAKARTA (JP): Indonesia's number one women's badminton player Susi Susanti has withdrawn from the Japan Open championships due to suffering from a reoccurring thigh injury.
Sat, 10 Jan 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 9, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 825 0 0 AHAP Insurance 450 0 0 Alter Abadi 325 0 0 Alumindo Light Metal 250 -50 208,000 Alumindo...
Sat, 10 Jan 1998
Govt introduces labor-intensive public projects
Govt introduces labor-intensive public projects JAKARTA (JP): The government has created temporary jobs for 3.9 million people who have lost their jobs due to the monetary crisis.The government launched yesterday a Rp 33 billion (US$4 million) labor-intensive public works project in 30 mayoralties...
Sat, 10 Jan 1998
Where to go in Jakarta:
Where to go in Jakarta:Exhibitions * Painting Exhibition: Atin Pekok Wj.'s Specialist Spontanism Artist, at Shang Palace Foyer, Shangri-La Hotel, Jl. Jend. Sudirman Kav.1, Central Jakarta, 9 a.m. to 10 p.m., until Jan. 11.
Sat, 10 Jan 1998
Clinton and IMF dispatch top officials to RI
Clinton and IMF dispatch top officials to RI WASHINGTON (Agencies): The Clinton administration and the International Monetary Fund, responding to a worsening economic crisis in Indonesia, dispatched top officials to Jakarta to discuss salvaging a faltering bailout effort.
Sat, 10 Jan 1998
RI Eurobonds illiquid amid financial crisis
RI Eurobonds illiquid amid financial crisis LONDON (Reuters): Holders of illiquid Indonesian Eurobonds are examining the possibility of a debt moratorium being announced amid the country's financial and credit crisis, bankers said on Thursday.
Sat, 10 Jan 1998
SilkAir crash spurs checks of Boeing 737s
SilkAir crash spurs checks of Boeing 737s WASHINGTON (Agencies): The Federal Aviation Administration on Thursday ordered inspections of 211 Boeing 737 airliners to check hinge fasteners discovered missing from a jet that crashed last month in Indonesia.
Sat, 10 Jan 1998
S&P downgrades Indonesia's ratings
S&P downgrades Indonesia's ratings HONG KONG (Reuters): Standard and Poor's Corp said yesterday that it had downgraded Indonesia's ratings and that it may cut ratings further.S&P said it cut Indonesia's long-term foreign currency rating to BB from BB-plus.
Sat, 10 Jan 1998
Soeharto pledges to implement reforms
Soeharto pledges to implement reforms JAKARTA (JP): President Soeharto told U.S. President Bill Clinton yesterday morning that he remained committed to economic reforms agreed upon with the International Monetary Fund (IMF).
Sat, 10 Jan 1998
Army chief warns against panic buying
Army chief warns against panic buying JAKARTA (JP): Army Chief of Staff Gen. Wiranto lamented yesterday unfounded rumors on the shortage of basic commodities which had triggered panic buying, and warned people against stockpiling daily needs for their own benefit.
Sat, 10 Jan 1998
Leading figures must unite to fight crisis
Leading figures must unite to fight crisis JAKARTA (JP): Political observer Franz Magnis Suseno says it is high time nationalist figures and religious leaders put their differences aside and join forces to help the country cope with the various crises facing it today.