Archive: 24 January 1998
56 articles found
Sat, 24 Jan 1998, 00:00 WIB
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. The rupiah, which hit a historic low of 16,500 to the U.S. dollar on Thursday before recovering to end the week at around 13,000 in Asian trading, has given a sharp blow to overall regional confidence.
Sat, 24 Jan 1998, 00:00 WIB
Tarto's jurnalistic tour through palace ritual
Tarto's jurnalistic tour through palace ritual By 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. Her palms are pressed together in a respectful gesture with her fingers pointing in the direction of the sacred pot.
Sat, 24 Jan 1998, 00:00 WIB
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. The baby, still complete with its placenta, was found by a street sweeper on Wednesday at about 11 a.m. wrapped in a blanket. Forensic expert Bambang H.P.
Sat, 24 Jan 1998, 00:00 WIB
TV today
TV today TVRI 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 Program 6:30 TVRI News 7:00 Evening News 7:35 TV Drama: Mata-Mata Dua 8:05 Saturday Night Music 9:00 World News 9:30 Koran Recital 9:43 Religious Program: Pesantren ke Pesantren 10:00 Quiz: Berpacu...
Sat, 24 Jan 1998, 00:00 WIB
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 spokesman, Saifuddin, told a 3,000-strong congregation at Friday prayers yesterday.
Sat, 24 Jan 1998, 00:00 WIB
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. The head of state-owned Kimia Farma pharmaceutical company, Armen, acknowledged the scarcity. He said the prices of imported products had increased by up to 300 percent.
Sat, 24 Jan 1998, 00:00 WIB
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 dramas, comedies, food features, poetry readings and music. Indosiar is set to have viewers in fits of laughter for 18 hours straight with Srimulat, a special comedy program aired from 6 a.m. to 12 a.m.
Sat, 24 Jan 1998, 00:00 WIB
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. Stock prices on the Jakarta Stock Exchange (JSX) had a similar cool response to the revised budget, gaining a mild 1.7 percent on foreign institutional investors' selective buying of Telkom shares, stockbrokers said.
Sat, 24 Jan 1998, 00:00 WIB
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. An agreement has already been signed by PWI Jaya's chairman Tarman Azzam and the council's representative Adhi Moershid, Antara reported yesterday.
Sat, 24 Jan 1998, 00:00 WIB
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. Many of the national chess programs have been stopped including the target of the Indonesian Chess Association (Percasi) to get an Indonesian woman up to grandmaster status," Eka Putra Wirya, the association's training director said Tuesday.
Sat, 24 Jan 1998, 00:00 WIB
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., revealed that 66,000 travelers left on 725 buses, departing from the city's main bus terminals: Kampung Rambutan and Pulogadung in East Jakarta, Lebak Bulus in South Jakarta and Kalideres in West Jakarta.
Sat, 24 Jan 1998, 00:00 WIB
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. Sjafrie said Sofjan, a leading student activist from the 1966 generation, was questioned earlier in the week at the Jakarta Internal Security Agency (Bakorstanasda) on Jl. Kramat Raya in Central Jakarta.
Sat, 24 Jan 1998, 00:00 WIB
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). The budget, presented by Minister of Finance Mar'ie Muhammad before a House of Representatives' plenary session, failed to impress the currency market as the rupiah continued to remain weak at 13,000 to the U.S. dollar yesterday.
Sat, 24 Jan 1998, 00:00 WIB
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. COLOMBO: The explanation frequently cited in the international media for the Asian financial crisis poor economic "fundamentals" simply is not convincing.
Sat, 24 Jan 1998, 00:00 WIB
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 up with a "subsidized exchange rate" for companies to help them cope with their external debt repayments. Indonesian corporate foreign debt is estimated at around $66 billion.
Sat, 24 Jan 1998, 00:00 WIB
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. "We will maintain close contact with the G-7 and in particular with the IMF, " Mitsuzuka told a news conference after a regular cabinet meeting.
Sat, 24 Jan 1998, 00:00 WIB
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, 00:00 WIB
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. Organizer Helmy Sungkar told The Jakarta Post yesterday that he expected 140 motocrossers in the two-day opening leg of the series. "We hope we can get to 140 crossers in the Tegal race.
Sat, 24 Jan 1998, 00:00 WIB
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. Director General of State-owned Companies Bacelius Ruru said the two state companies were ready to launch their initial public offerings (IPO).
Sat, 24 Jan 1998, 00:00 WIB
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. Dealers said the budget, which included a forecast of zero economic growth, inflation at 20 percent and a rupiah rate of 5,000 to the U.S. dollar, contained no surprises and left the market anxious about the unresolved issue of corporate debt.
Sat, 24 Jan 1998, 00:00 WIB
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. The three-year-old progressive vehicle taxation system is to be revoked from Apr. 1 as the administration has found it an ineffective way to increase local tax revenue, city councilor Amarullah Asbah said yesterday.
Sat, 24 Jan 1998, 00:00 WIB
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. "The Philippines, Indonesia and the rest of ASEAN will facilitate the region's economic recovery if we will patronize our own.
Sat, 24 Jan 1998, 00:00 WIB
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 Jakarta Post yesterday that only 500 out of 4,000 member companies had so far survived the crisis. "We can not help the situation, 400,000 workers have to lose their jobs," he said.
Sat, 24 Jan 1998, 00:00 WIB
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 time to celebrate the Idul Fitri holiday.
Sat, 24 Jan 1998, 00:00 WIB
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. Tadjuddin Noor Said, a noted economic analyst and former legislator, said yesterday the rise in fuel prices starting April would lead to a sharp increase in food prices and other essentials.
Sat, 24 Jan 1998, 00:00 WIB
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. Speaking before a House of Representatives' plenary session, Minister of Finance Mar'ie Muhammad predicted that the balance of payments surplus would come from improving non-oil exports rather than from capital inflows.
Sat, 24 Jan 1998, 00:00 WIB
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. "The best way to create confidence is to clean the banking system, and the only way I know of doing that is to let a couple of names go," said Philippe Dalhaise, president of Thomson BankWatch Asia.
Sat, 24 Jan 1998, 00:00 WIB
'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. Deputy Governor for Administration Affairs Abdul Kahfi said the stickers had been deemed the best method for collecting additional revenue.
Sat, 24 Jan 1998, 00:00 WIB
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Jan.
Sat, 24 Jan 1998, 00:00 WIB
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. The other reason is that we are facing a financial crisis so we should economize our spending," Hayono said Thursday.
Sat, 24 Jan 1998, 00:00 WIB
Ramadhan time for Jakarta
Ramadhan time for Jakarta Saturday Maghrib 6:19 p.m. Sunday Imsak 4:22 a.m. Subuh 4:32 a.m.
Sat, 24 Jan 1998, 00:00 WIB
Modified buses running on CNG to help clean up Jakarta skies
Modified buses running on CNG to help clean up Jakarta skies By John Bell Air pollution in Jakarta will be slightly reduced by a fleet of Australian-modified buses running on compressed natural gas (CNG). The Indonesian government has just bought 100 buses which use a fueling system developed by West Australian company Transcom. The system replaces the diesel induction system and converts a formerly diesel compression ignition engine to run on CNG.
Sat, 24 Jan 1998, 00:00 WIB
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 Megawati Soekarnoputri and Amien Rais.
Sat, 24 Jan 1998, 00:00 WIB
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. It was the second declaration of support after the dominant Golkar named Soeharto the sole candidate for the presidential election in March, earlier this week.
Sat, 24 Jan 1998, 00:00 WIB
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. Harmoko made the comment to counter speculation that the coalition had been split over the vice presidential nomination. "There is no reason to worry about our partnership, it's solid (because) it has been tested for a long time.
Sat, 24 Jan 1998, 00:00 WIB
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, 00:00 WIB
Explanations sought for Asian financial crisis
Explanations sought for Asian financial crisis By 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?
Sat, 24 Jan 1998, 00:00 WIB
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. Kramat Raya, Central Jakarta, Nuriyah told reporters. "We all know what kind of situation we are in now and prior to his hospitalization, his mind was occupied with this situation," said Nuriyah.
Sat, 24 Jan 1998, 00:00 WIB
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, 00:00 WIB
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 taken on Wednesday. Ramadhan started on Dec. 31. The ministry will hold an Istbat meeting Wednesday.
Sat, 24 Jan 1998, 00:00 WIB
Revamped music group Slank has new album
Revamped music group Slank has new album By 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. Slank has two new members (again), Abdi Negara on synthesizer and Ridho on lead guitar, making this the band's 14th formation since 1983. Fans have stuck with the changes thus far as Slank has retained its identity of playful music and lyrics.
Sat, 24 Jan 1998, 00:00 WIB
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. Karya Gedung Johor Medan after neighbors reported that the woman screamed every night and that a bad smell emanated from her house.
Sat, 24 Jan 1998, 00:00 WIB
Effects of the U.S. presence in Asia
Effects of the U.S. presence in Asia By 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. He said that the forward deployment of U.S. military forces in East Asia was not only to guarantee his nation's interests, but to benefit Asian nations interested in the maintenance of stability and the balance of power in the region.
Sat, 24 Jan 1998, 00:00 WIB
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. Whether it is realistic enough, however, depends on follow-up government actions in dealing with the economic crisis.
Sat, 24 Jan 1998, 00:00 WIB
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. Warouw, said yesterday that the decision as to which sports would be sent to the quadrennial event would be made in August.
Sat, 24 Jan 1998, 00:00 WIB
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. The ulema also criticized selfish profiteers who only thought about their own interests. In a statement, the ulema said the eradication of such practices was urgent because it resulted in a high cost economy.
Sat, 24 Jan 1998, 00:00 WIB
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. City police spokesman Lt. Col. E. Aritonang said the two were arrested red-handed on Thursday night after selling marijuana to undercover detectives.
Sat, 24 Jan 1998, 00:00 WIB
Gold collection
Gold collection From Merdeka Considering 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. This symbolic gesture, however, should not be sought for from common people, either at mass gatherings or at small Koran reading groups, because it would create an adverse impact.
Sat, 24 Jan 1998, 00:00 WIB
Stock Exchange
Stock Exchange Stock 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 70,500 Alumindo Perkasa 250 0 0 Aneka Kimia Raya 875 -75 99,500 Aneka Tambang 1,450 -50 7,383,000 Anwar Sierad 100 -25 96,500 Apac Centertex Corp.
Sat, 24 Jan 1998, 00:00 WIB
Simple ways can ensure smooth road home on Idul Fitri
Simple ways can ensure smooth road home on Idul Fitri By 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 home. That oft-repeated advice to have your vehicle checked by a qualified mechanic should be kept in mind.
Sat, 24 Jan 1998, 00:00 WIB
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. IMF First Deputy Managing Director Stanley Fischer told bankers that the world's major industrialized nations were well positioned to cope with the fallout of the crisis. The text of his speech was made available ahead of delivery.
Sat, 24 Jan 1998, 00:00 WIB
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. Latumeten in West Jakarta early Thursday morning, while the other, Hasan, 30, was killed by police during a shootout in Pluit, North Jakarta. City police spokesman Lt. Col. E.
Sat, 24 Jan 1998, 00:00 WIB
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. dollars they are defaulting on their foreign exchange obligations," said Fitch IBCA. The "legal rating" used by the agency measures the likelihood of public support for an institution in case of bankruptcy.
Sat, 24 Jan 1998, 00:00 WIB
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. New Zealand's trade commissioner in Jakarta, Nick Arathimos, said on Thursday: "What we're warning people about is to be very, very careful about payment. "It's something which applies to everyone, not just New Zealand exporters," he told Reuters in a telephone interview.
Sat, 24 Jan 1998, 00:00 WIB
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 the southeastern edge of Kuala Lumpur and was still burning yesterday.
Sat, 24 Jan 1998, 00:00 WIB
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 bank in the share-swap mechanism. Stakes in a new bank will be based on the share value of each merging bank.