Archive: 24 January 1998
56 articles found
Sat, 24 Jan 1998
The financial crisis is a lesson for Asian countries
The financial crisis is a lesson for Asian countries The current financial crisis affecting most of Asia would not have come about if there was some kind of mechanism to regulate excessive foreign capital flows, argues Sri Lankan economist Gamani Corea in this Inter Press Service commentary.
Sat, 24 Jan 1998
RI urged to overhaul banking system, bankruptcy laws
RI urged to overhaul banking system, bankruptcy laws HONG KONG (Reuters): Two of the quickest routes to restoring confidence in the crashing rupiah would be for Indonesia to allow its bad banks to fail and draft new bankruptcy laws, experts and analysts said on Friday.
Sat, 24 Jan 1998
Government optimistic in balance of payments
Government optimistic in balance of payments JAKARTA (JP): The government remains optimistic that the country will enjoy a surplus of US$1.1 billion in its balance of payments next fiscal year despite investors' vanishing confidence in the economy.
Sat, 24 Jan 1998
Govt intervention still needed to curb price hike
Govt intervention still needed to curb price hike JAKARTA (JP): The government's market intervention is still needed to anticipate a possible sharp increase in prices in the next few months, economic analysts have said.
Sat, 24 Jan 1998
Exodus in a gloomy time
Exodus in a gloomy time The country may have been hit by crisis but for the majority of our people the show must go on. The hectic days have arrived when people elbow their way into overcrowded buses, trains, cars or any other means of transportation available to return to their family village in...
Sat, 24 Jan 1998
400,000 workers jobless
400,000 workers jobless SEMARANG, Central Java: Four hundred thousand construction workers have been left jobless in the recent economic crisis that has forced about 3,500 builders to close down here.The chairman of Central Java's Indonesian Builders Association (Gapensi) branch, Soendoro, told The...
Sat, 24 Jan 1998
Habibie seeks Manila's aid
Habibie seeks Manila's aid MANILA (Reuters): Indonesia's top technology minister has urged the Philippines to support an Indonesian aircraft project that recently lost government funding under IMF-sponsored reforms, the Philippine presidential palace said yesterday.
Sat, 24 Jan 1998
Progressive car taxation system to be revoked
Progressive car taxation system to be revoked JAKARTA (JP): City residents and companies who own more than one vehicle will soon no longer have to pay tax on them at rates of between 20 percent and 100 percent higher than the standard vehicle tax rates.
Sat, 24 Jan 1998
Asian currencies depressed, intervention supports rupiah
Asian currencies depressed, intervention supports rupiah SINGAPORE (Reuters): Depressed Asian currency markets largely ignored Indonesia's revised, IMF-endorsed 1998/99 budget, driving the rupiah to seek refuge in the arms of the central bank.
Sat, 24 Jan 1998
Two state firms ready for public offering
Two state firms ready for public offering JAKARTA (JP): Two of 12 state companies are set to float their shares to the public through the capital market this year amid the current bearish market, a senior official said.
Sat, 24 Jan 1998
73 riders confirmed for Tegal motocross
73 riders confirmed for Tegal motocross JAKARTA (JP): Seventy-three riders have confirmed their participation in the Gudang Garam international motocross championships in Tegal, Central Java, on Feb. 7 and Feb. 8.
Sat, 24 Jan 1998
Jamsostek claims return on its investment above average
Jamsostek claims return on its investment above average JAKARTA (JP): State social insurance company PT Jamsostek has denied analysts' allegations that it had mismanaged investment funds in 1996, saying the return on its investment during the period was above average.
Sat, 24 Jan 1998
Japan pledges to help RI
Japan pledges to help RI TOKYO (AFP): Finance Minister Hiroshi Mitsuzuka said yesterday Japan would maintain close contact with the Group of Seven (G-7) nations and the International Monetary Fund (IMF) to help Indonesia overcome its financial crisis.
Sat, 24 Jan 1998
Goldman Sachs sees no debt moratorium
Goldman Sachs sees no debt moratorium SINGAPORE (Reuters): Indonesia is unlikely to impose a debt moratorium or capital controls, Goldman Sachs economist Don Hanna said on Thursday.Hanna, who had just flown in from Indonesia, told a Singapore investment conference the Jakarta government could come...
Sat, 24 Jan 1998
'Jockeys' out, stickers in for Jakarta motorists
'Jockeys' out, stickers in for Jakarta motorists JAKARTA (JP): The city administration is set to scrap the "three-in-one" traffic regulation for Jakarta's major thoroughfares and replace it with car stickers, an official said yesterday.
Sat, 24 Jan 1998
Govt presents revised budget
Govt presents revised budget JAKARTA (JP): The government announced yesterday a revised 1998/1999 budget, raising revenue and expenditures and reducing fuel subsidies, but closely following recommendations by the International Monetary Fund (IMF).
Sat, 24 Jan 1998
Businessman questioned over bomb explosion
Businessman questioned over bomb explosion JAKARTA (JP): Jakarta Regional Military Command chief Maj. Gen. Sjafrie Sjamsoeddin said that business tycoon Sofjan Wanandi has been questioned after alleged documents bearing his name were found at a bomb site.
Sat, 24 Jan 1998
121,000 passengers leave Jakarta as peak approaches
121,000 passengers leave Jakarta as peak approaches JAKARTA (JP): With the Idul Fitri exodus approaching its expected peak on Tuesday, the number of passengers leaving the city on buses and trains reached an estimated 121,000 yesterday.Data from the national Idul Fitri post, as at 8 p.m.
Sat, 24 Jan 1998
Crisis spikes women players' guns: Eka
Crisis spikes women players' guns: Eka JAKARTA (JP): A chess observer has said that this year's target to develop a woman grandmaster could not be achieved while the country was in such economic turmoil."We are facing a difficult financial situation.
Sat, 24 Jan 1998
Cultural training for journalists
Cultural training for journalists JAKARTA (JP): The Jakarta chapter of the Indonesian Journalists Association (PWI Jaya) in cooperation with the Jakarta Art Council will hold a training course for journalists to enable them to widen their cultural knowledge.
Sat, 24 Jan 1998
Revised state budget fails to amaze currency market
Revised state budget fails to amaze currency market JAKARTA (JP): The government's announcement of a revised 1998/1999 draft state budget failed to wow the market as the rupiah continued its downward trend, touching to as low as 15,000 to U.S. dollar yesterday.
Sat, 24 Jan 1998
TV surprises in store for 'Lebaran' festivity
TV surprises in store for 'Lebaran' festivity JAKARTA (JP): The five local TV stations are offering a variety of features for viewers as they prepare to greet Idul Fitri.Aside from regularly scheduled news and prime-time fare, the special lineup for Lebaran will include religious talk shows and...
Sat, 24 Jan 1998
Patients complain of drug scarcity
Patients complain of drug scarcity MANADO, North Sulawesi: Patients complained yesterday about the scarcity and skyrocketing prices of medicines in the city.The prices of local medicines have increased 100 percent, and hospitals often ask patients to wait days for their drugs.
Sat, 24 Jan 1998
Moslems to pray for an end to crisis
Moslems to pray for an end to crisis TANGERANG (JP): At least 4,000 Moslems are expected to join the seven days of all-night prayers, which begin tonight, at Al- Istiqna Mosque here.They will also be calling on Allah to save Indonesia from the economic crisis gripping the nation, the mosque...
Sat, 24 Jan 1998
TV today
TV todayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: The Crystal Maze 3:10 Teenager's Program: Jenjang Vokal 3:35 Tour and Travel: Wisata Nasional 4:00 Regional News 4:30 Sports 5:30 TV Drama: Pemberian 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village...
Sat, 24 Jan 1998
Third baby found dead this year
Third baby found dead this year JAKARTA (JP): A newborn, estimated to be two days old, has found dead in a plastic bag in front of a residence's gate at the luxury Cipinang Indah housing complex in East Jakarta.
Sat, 24 Jan 1998
Tarto's jurnalistic tour through palace ritual
Tarto's jurnalistic tour through palace ritualBy Sri Wahyuni YOGYAKARTA (JP): An old woman dressed in an abdi dalem costume of a Javanese palace servant -- which consists of few pieces of cloth wrapped around her legs and chest -- solemnly sits on her knees before an old earthenware pot.
Sat, 24 Jan 1998
Poor sentiment hits rally prospects
Poor sentiment hits rally prospects TOKYO (AFP): Depressed regional sentiment looked set to nullify the customary rally ahead of the Lunar New Year celebrations as markets generally lost ground Friday amid a weakening Indonesian rupiah, dealers said.
Sat, 24 Jan 1998
Medicine woman accused of murder
Medicine woman accused of murder MEDAN, North Sumatra: Police have arrested a sorceress alleged of killing her sister and keeping her body for practicing witchcraft, Antara reported yesterday.The news agency said Deli Tua-Medan subprecinct police arrested Charan, 30, in her residence on Jl.
Sat, 24 Jan 1998
Fire spreads smoke over KL
Fire spreads smoke over KL KUALA LUMPUR (Reuters): A smoldering fire at a rubbish dump on the outskirts of Malaysia's capital yesterday spread a thick cloud of smoke over the city, residents said.A police spokeswoman told Reuters the blaze had broken out Thursday evening in the sprawling dump on...
Sat, 24 Jan 1998
NZ warns exporters of perils of Indonesian trade
NZ warns exporters of perils of Indonesian trade WELLINGTON (Reuters): New Zealand is warning its exporters to be extra cautious in trading with Indonesia, and says the advice need not apply to Kiwis alone.
Sat, 24 Jan 1998
Agency cuts Indonesian bank ratings
Agency cuts Indonesian bank ratings NEW YORK (AFP): A U.S. agency on Thursday lowered its legal rating on 13 Indonesian banks that it said were severely undercapitalized because of a fall in the value of the rupiah, the national currency."Some are so short of U.S.
Sat, 24 Jan 1998
Alleged robbers die on the street for their crimes
Alleged robbers die on the street for their crimes JAKARTA (JP): Two suspected robbers were killed during separate incidents in West and North Jakarta on Thursday, police said.One of the suspects, M. Adnan, 21, was beaten to death by a crowd on Jl.
Sat, 24 Jan 1998
IMF defends Asia actions
IMF defends Asia actions WASHINGTON (Reuters): The International Monetary Fund defended its policies towards Asia's tiger economies on Thursday, saying that the costs would have been higher and the slowdown faster if the IMF had not got involved.
Sat, 24 Jan 1998
Simple ways can ensure smooth road home on Idul Fitri
Simple ways can ensure smooth road home on Idul FitriBy Christiani S.A. Tumelap JAKARTA (JP): Planning to join the exodus to hometowns this Idul Fitri holiday? Barring major calamities, simple precautions and a careful examination of alternate routes can remove some of the stress of the long road...
Sat, 24 Jan 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 23, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 525 -175 500 AHAP Insurance 350 -100 10,500 Alter Abadi 200 -100 20,000 Alumindo Light Metal 250 -25...
Sat, 24 Jan 1998
Gold collection
Gold collectionFrom MerdekaConsidering the latest economic developments in the country, I admire the donation of two kilograms of gold by 200 ulemas to the government, especially since it made reverberations nationwide even though it was from a small group.
Sat, 24 Jan 1998
Two men arrested for supplying 'ganja'
Two men arrested for supplying 'ganja' JAKARTA (JP): Two men wanted by police for their alleged involvement in a drug network were arrested at a hotel in Kramat Sentiong, Central Jakarta, with 17 kilograms of Aceh-grown ganja (marijuana) in their possession, police said yesterday.
Sat, 24 Jan 1998
Economy ruined by corruption, collusion, Moslem ulemas say
Economy ruined by corruption, collusion, Moslem ulemas say JAKARTA (JP): The influential Indonesian Council of Ulema (MUI) said yesterday the country's economy has been severely undermined by chronic corruption and collusion practices.
Sat, 24 Jan 1998
RI may only send 8 sports to Asiad
RI may only send 8 sports to Asiad JAKARTA (JP): The National Sports Council has estimated that Indonesia is likely to be represented in only eight sports at the 13th Asian Games in Bangkok in December.The council's secretary-general, Rudolf S.
Sat, 24 Jan 1998
Get real with the budget
Get real with the budget The revised government budget for the 1998/1999 fiscal year, as presented by Minister of Finance Mar'ie Muhammad to the House of Representatives yesterday, was much more realistic than the original draft presented by President Soeharto on Jan. 6.
Sat, 24 Jan 1998
Effects of the U.S. presence in Asia
Effects of the U.S. presence in AsiaBy Sayidiman Suryohadiprojo JAKARTA (JP): During his visit to Southeast Asia this month, U.S. Secretary of Defense William Cohen stated firmly that the U.S. government had decided to maintain its military presence in East Asia.
Sat, 24 Jan 1998
Obstacles may slow down bank merger process
Obstacles may slow down bank merger process JAKARTA (JP): Indonesia's ambitious plan to speed up mergers in its troubled banking sector may not be going as smoothly as expected, analysts say.One of the hurdles, according to an analyst, could be the difficulty of assessing the share value of each...
Sat, 24 Jan 1998
Revamped music group Slank has new album
Revamped music group Slank has new albumBy Stevie Emilia JAKARTA (JP): "Ssh... look, Slank has new members," whispered a young lady in the audience. "Are they as good as the old ones?" whispered another.Yes.
Sat, 24 Jan 1998
Moslem leaders to set date for Idul Fitri
Moslem leaders to set date for Idul Fitri JAKARTA (JP): Minister of Religious Affairs Tarmizi Taher said yesterday the Idul Fitri holiday would most likely fall as scheduled on Jan. 30.The final decision on the holiday, which will mark the completion of the 30-day Ramadhan fasting month will be...
Sat, 24 Jan 1998
Offshore banks choke RI of U.S. dollars
Offshore banks choke RI of U.S. dollars SINGAPORE (AFP): Offshore banks operating out of Singapore and Hong Kong are choking the supply of precious U.S. dollars to Indonesia as they fear a banking collapse in Jakarta on the weight of staggering debts, bankers and analysts said yesterday.
Sat, 24 Jan 1998
Gus Dur wants to resume duty
Gus Dur wants to resume duty JAKARTA (JP): Despite still undergoing treatment in the intensive care ward, Abdurrahman Wahid is already eager to return to his office, his wife said here yesterday.Abdurrahman has told relatives that he wanted to go to the NU headquarters on Jl.
Sat, 24 Jan 1998
Explanations sought for Asian financial crisis
Explanations sought for Asian financial crisisBy Edward Neilan Indonesia was biggest victim; China's problems will slow its growth; most solid economy for 1998 may be Taiwan's. TOKYO (JP): How bad was it? How long will it last? What else can we expect?Those are the three simple questions the man or...
Sat, 24 Jan 1998
Teacher shot death in Serpong robbery
Teacher shot death in Serpong robbery TANGERANG (JP): A teacher was shot dead during a scuffle with two robbers who attempted to grab his wife's necklace as the couple neared Bumi Serpong Damai (BSD) housing complex here Thursday evening.Tangerang Police chief Lt. Col.
Sat, 24 Jan 1998
Golkar and Army to field only one VP candidate
Golkar and Army to field only one VP candidate JAKARTA (JP): Dominant political organization Golkar and its traditional allies, the Armed Forces and the bureaucracy, have agreed to name only one candidate for the vice presidency, Golkar chairman Harmoko said yesterday.
Sat, 24 Jan 1998
PPP decides to renominate Soeharto
PPP decides to renominate Soeharto JAKARTA (JP): Incumbent President Soeharto moved a step closer to receiving an unanimous vote for his renomination to another term after the United Development Party (PPP) announced its support of him yesterday.
Sat, 24 Jan 1998
More protests against Soeharto's renomination
More protests against Soeharto's renomination JAKARTA (JP): The series of demonstrations at the House of Representatives this week continued yesterday as 120 people from different groups staged rallies to express concern about the monetary crisis and show their support for government critics...
Sat, 24 Jan 1998
Modified buses running on CNG to help clean up Jakarta skies
Modified buses running on CNG to help clean up Jakarta skiesBy John Bell Air pollution in Jakarta will be slightly reduced by a fleet of Australian-modified buses running on compressed natural gas (CNG).
Sat, 24 Jan 1998
Ramadhan time for Jakarta
Ramadhan time for JakartaSaturdayMaghrib 6:19 p.m.SundayImsak 4:22 a.m.Subuh 4:32 a.m.
Sat, 24 Jan 1998
No need to send soccer team to Asian Games: Minister
No need to send soccer team to Asian Games: Minister JAKARTA (JP): State Minister of Youth Affairs and Sport Hayono Isman has said there is no need to send the national soccer team to the Asian Games in Bangkok in December."There is little chance of the team winning any medal.
Sat, 24 Jan 1998
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Jan. 23, 1998: Buying Selling Rp Rp U.S dollar 1 12,250.00 15,250.00Austrian shilling 1 948.30 1,272.40Australian dollar 1 8,187.50 10,261.00Belgian franc 1 335.10 418.40Canadian dollar 1 8,579.30 10,697.