Archive: 29 January 1998
58 articles found
Thu, 29 Jan 1998, 00:00 WIB
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Jan. 28, 1998: Buying Selling Rp Rp U.S.
Thu, 29 Jan 1998, 00:00 WIB
No Paper
No Paper In observance of Idul Fitri, The Jakarta Post will not appear tomorrow and Saturday. The Post will return again Sunday. We wish our Moslem readers a very happy Idul Fitri. We would like to take this opportunity to apologize for any indiscretions. -- The publisher
Thu, 29 Jan 1998, 00:00 WIB
RI faces risk of revolution and depression: Economist
RI faces risk of revolution and depression: Economist SYDNEY (AFP): Indonesia faces the risk of revolution as well as economic depression unless its financial crisis is corrected soon, one of the world's leading economic strategists warned yesterday. United States economist David Hale, who advises a string of governments around the world, described the Asian economic crisis as "the most extraordinary example of international contagion" seen since the great depression of the 1930s.
Thu, 29 Jan 1998, 00:00 WIB
City likely to allocate Rp 17b for labor program
City likely to allocate Rp 17b for labor program JAKARTA (JP): The municipality hopes to set aside Rp 17 billion (US$1.7 million) in the 1998/1999 city budget to finance a labor-intensive program, an official said yesterday. Prawoto Danoemihardjo, the city's assistant of economic and administrative affairs, told The Jakarta Post that the fund was needed to cope with the city's unemployment crisis. "This is the first time a special fund for this purpose has been proposed.
Thu, 29 Jan 1998, 00:00 WIB
Voting sought in the election of national leaders
Voting sought in the election of national leaders JAKARTA (JP): A fresh call was lodged yesterday for the People's Consultative Assembly (MPR) to introduce voting in the presidential and vice presidential elections. Senior politician Jaelani Naro said yesterday that voting was the purest method for the election of national leaders according to the 1945 Constitution. "After failing to execute the stipulation for many years under the New Order, we now need to educate people.
Thu, 29 Jan 1998, 00:00 WIB
Campaign to raise awareness of child labor
Campaign to raise awareness of child labor JAKARTA (JP): An internationally sponsored campaign against child labor in Indonesia and around the world will be initiated next month to raise awareness of the protection of children's rights.
Thu, 29 Jan 1998, 00:00 WIB
30 shuttlers tested for Thomas, Uber Cups
30 shuttlers tested for Thomas, Uber Cups JAKARTA (JP): Thirty national shuttlers have undergone two days of physical tests at the Senayan Madya stadium in preparation for the Thomas and Uber Cup championships in Hong Kong in May. The Badminton Association of Indonesia's physical trainer, Paulus Pasurney, said Tuesday that the 30 shuttlers had to do eight physical tests covering speed, agility, power and endurance.
Thu, 29 Jan 1998, 00:00 WIB
Facts and foretelling: Unemployment and the reform package
Facts and foretelling: Unemployment and the reform package By Omar Halim This is the second of two articles examining Indonesia's economy in the light of the signing of a reinforced economic reform agreement mid this month by President Soeharto and International Monetary Fund Managing Director Michel Camdessus. JAKARTA (JP): According to the International Monetary Fund prescription, government expenditure should be significantly reduced.
Thu, 29 Jan 1998, 00:00 WIB
70 hectares of forest burned
70 hectares of forest burned BALIKPAPAN, East Kalimantan: The recent outbreak of brush and forest fires in the Bukit Soeharto forest reserve has ravaged 70 hectares of land, deputy governor Suwarna Abdul Fatah said here yesterday. Suwarna, who coordinated the provincial natural disaster management board, said the land ravaged by the recent drought- induced fires included rubber plantations, dry savanna, and brush forest along the Samarinda-Balikpapan road which passes over Bukit Soeharto.
Thu, 29 Jan 1998, 00:00 WIB
Soeharto to attend 'Takbiran' prayer
Soeharto to attend 'Takbiran' prayer JAKARTA (JP): President Soeharto and Vice President Try Sutrisno are scheduled to attend the Takbiran prayer on the eve of Idul Fitri at the National Monument (Monas) in Central Jakarta tonight. "As many as 100,000 Moslems are expected to flock to Monas for the occasion," Central Jakarta Mayor Andi Subur Abdullah said yesterday. He expressed hope that no one would disturb the religious event.
Thu, 29 Jan 1998, 00:00 WIB
Police captain jailed for bribery
Police captain jailed for bribery JAKARTA (JP): A Yogyakarta military tribunal sentenced Capt. Suko Haryanto yesterday to 28 months in jail and discharged him from the police force after he was found guilty of taking bribes, Antara reported. The jail sentence meted out by the tribunal was four months more lenient than the one demanded by the prosecuting attorney who demanded a 32 month jail term. Suko and his lawyers said they would appeal the verdict, saying the punishment was too severe.
Thu, 29 Jan 1998, 00:00 WIB
Clinton appeals for U.S. support for Asian bailout
Clinton appeals for U.S. support for Asian bailout WASHINGTON (Reuters): President Bill Clinton appealed on Tuesday to the American people to support rescue deals for Asia's ailing tiger economies, saying it was the right thing to do for the United States and the world as a whole.
Thu, 29 Jan 1998, 00:00 WIB
Loan convertion 'a solution' to corporate debt
Loan convertion 'a solution' to corporate debt JAKARTA (JP): Converting the loans given by overseas creditors to Indonesian companies into equity might be a good solution in dealing with the private sector's mounting foreign debt, a senior analyst says.
Thu, 29 Jan 1998, 00:00 WIB
6,000 sarongs for becak drivers
6,000 sarongs for becak drivers UJUNGPANDANG, South Sulawesi: The mayoralty office donated 6,000 sarongs as Idul Fitri gifts to becak, or pedicab, drivers from 11 subdistricts here yesterday. Mayor Malik Masry, who presented the gifts, said the sarongs were gifts from the mayoralty and local businesspeople. The mayor called on becak drivers to be good citizens and work together to maintain order. "Let's follow the existing regulations, and let's keep the city clean.
Thu, 29 Jan 1998, 00:00 WIB
Businessman sues minister for Rp 23b
Businessman sues minister for Rp 23b JAKARTA (JP): A businessman is suing Minister of Mines and Energy I.B. Sudjana and his staff for Rp 23.5 billion in damages after the cancellation of a contract for an office tower project. Plaintiff Sjarief Tando, president of PT Petrobuild Indonesia, also asked Central Jakarta District Court on Monday to force the minister to honor the contract, which was revoked by the ministry's secretary-general in April 1995.
Thu, 29 Jan 1998, 00:00 WIB
Idul Fitri falls tomorrow: Govt
Idul Fitri falls tomorrow: Govt JAKARTA (JP): The government announced last night that Idul Fitri will fall tomorrow, but said Moslems who intend to mark the end of the Ramadhan fasting month today will be respected. The decision followed a meeting of religious experts and leaders of various Moslem groups led by Minister of Religious Affairs Tarmizi Taher. "The first day of Idul Fitri will be marked on two different dates, and both of them are right.
Thu, 29 Jan 1998, 00:00 WIB
Beware bankers opening banks
Beware bankers opening banks Let's keep this in the right perspective. We have a crisis in the construction sector, which affected the banking system, which in turn affects everything else. And we know bankers. They spread their problems over the whole economy so that governments come to their rescue. That's akin to holding a country to a ransom. It's been always the same old story. They didn't count the number of cranes at the construction sites in Dallas, Texas back in the eighties.
Thu, 29 Jan 1998, 00:00 WIB
TV programs
TV programs Today TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 Children's Film: Kid Pix Ninja The Wonder Boy 3:10 Science Film: Animal Odyssey 3:35 Religious Teachings: Islam 4:00 Regional News 4:30 Song and Dance: Pelangi Budaya 5:00 Arabic Lessons 5:30 Religious Program: Celah-Celah Ramadhan 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 TVRI News 6:53 Music 7:00 Evening News 7:30 Performances: Cakrawala Budaya 8:05 Variety Show: Nada dan...
Thu, 29 Jan 1998, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan.28, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 600 0 0 AHAP Insurance 350 0 0 Alter Abadi 175 -50 31,000 Alumindo Light Metal 250 0 0 Alumindo Perkasa 250 0 0 Aneka Kimia Raya 650 50 297,500 Aneka Tambang 1,650 75 6,435,000 Anwar Sierad 100 0 7,500 Apac Centertex Corp.
Thu, 29 Jan 1998, 00:00 WIB
IMF confident reform to succeed
IMF confident reform to succeed JAKARTA (JP): An International Monetary Fund (IMF) senior official said here yesterday he believed the new banking reforms would help restore confidence in the country's battered economy. IMF Asia-Pacific deputy director Bijan B. Aghevli said the troubled rupiah had quickly strengthened after the announcement of the reforms Tuesday and that the international financial markets also responded positively to the decisive measures.
Thu, 29 Jan 1998, 00:00 WIB
CDC to raise stake in Tamara
CDC to raise stake in Tamara JAKARTA (JP): Publicly listed Tamara Bank announced yesterday that its Taiwanese shareholder China Development Corp (CDC) has agreed to increase its stake in the bank up to the maximum allowed percentage. The bank said CDC's plan to increase its shares in Tamara Bank, which would add its capital to Rp 1 trillion (US$100 million), was aimed at strengthening Tamara's capital structure.
Thu, 29 Jan 1998, 00:00 WIB
Mutual assistance
Mutual assistance From Merdeka The monetary turmoil now hitting a number of countries, including Indonesia, have wide repercussions and have affected the prices of daily necessities. In an effort to overcome these problems, the Malaysian and Thai governments have slashed the salaries of high-ranking government officials. Indonesia upholds a principle of mutual assistance which is laid out in the state's ideology of Pancasila and the 1945 Constitution.
Thu, 29 Jan 1998, 00:00 WIB
Thailand 'wont' follow Jakarta debt freeze'
Thailand 'wont' follow Jakarta debt freeze' BANGKOK (Reuters): Thailand is unlikely to follow Indonesia's path in freezing debt repayments, analysts and economists said yesterday. Although the wobbly baht remains under pressure and has lost more than 50 percent of its value since last July, the Thai currency has recently been more stable.
Thu, 29 Jan 1998, 00:00 WIB
Garuda suspends Idul Fitri flights
Garuda suspends Idul Fitri flights YOGYAKARTA : Garuda Indonesia airways had to suspend four extra pre-Idul Fitri flights scheduled for its Jakarta-Yogyakarta route due to lack of passengers, a spokesman said. Garuda's Yogyakarta office manager Tamim Hadi was quoted by Antara as saying that the airline had earlier planned to operate four extra return flights from Jan. 23 to Jan. 27 in anticipation of a stark increase in travelers during the period prior to Idul Fitri.
Thu, 29 Jan 1998, 00:00 WIB
WB chief visits Thailand
WB chief visits Thailand BANGKOK (Reuters): World Bank President James Wolfensohn will visit Thailand from Jan 30-Feb 1 to meet senior Thai officials on the latest developments in the crisis-hit country, a bank official said yesterday. He will meet Finance Minister Tarrin Nimmanahaeminda on Friday and hold a joint news conference with the minister on Saturday, the official said.
Thu, 29 Jan 1998, 00:00 WIB
ADB to lend RI $32 million
ADB to lend RI $32 million MANILA (AFP): The Asian Development Bank (ADB) said here yesterday that it had approved a 32-million-dollar loan to Indonesia for a conservation project. The loan will go to protecting the 227,000-hectare (560,690- acre) Lore Lindu national park in Central Sulawesi and to improving the livelihood of the 117 rural villages in the area adjoining the park, the Manila-based ADB said in a statement.
Thu, 29 Jan 1998, 00:00 WIB
Japanese man stabbed to death, taxi driver sought
Japanese man stabbed to death, taxi driver sought JAKARTA (JP): A Japanese man was stabbed to death and his compatriot wounded when the taxi they were in was robbed in the Cinangka subdistrict of Sawangan in West Java early yesterday. City police spokesman Lt. Col. E. Aritonang identified the dead man as Yamamoto, 32, and his injured companion as Okada, 49. Both were employees of a joint venture company, PT Tusunaka Plastic Indonesia, in Bekasi, West Java.
Thu, 29 Jan 1998, 00:00 WIB
Provinces brace for different Idul Fitri dates
Provinces brace for different Idul Fitri dates JAKARTA (JP): Provincial authorities across the country are bracing for two different Idul Fitri holidays with a call for Moslems to maintain order and harmony. Acting chief of the Religious Affairs Office of Central Sulawesi, Muhammad Gudal, said yesterday that the local administration would allow the Islamic community to celebrate Idul Fitri one day earlier than the government calendar if they choose to, Antara reported.
Thu, 29 Jan 1998, 00:00 WIB
Where to go in Bali:
Where to go in Bali: Music and entertainment * Ramada Bintang Bali, Kuta: - La Brasserie Cafe Restaurant: Crosstil Quatro, daily. - Alun-alun Lounge: The Heart Beat Band, nightly except on Thursday, 8:30 p.m. to 12:30 a.m. - Poolside Open Theater: Tek-Tekan Dance, Saturday. Legong Terompong Dance, Tuesday. Ramayana Dance, Thursday. - BB Discotheque: Fashion show, every Friday. Dance show by Andromeda, Friday, 9 p.m. to 3 a.m. - Coconut Wharf Restaurant: Italian Cuisine Beach Side, daily, 8 a.m.
Thu, 29 Jan 1998, 00:00 WIB
Cannabis field found in Sulawesi
Cannabis field found in Sulawesi UJUNGPANDANG, South Sulawesi: Pinrang police found a one- hectare cannabis field in Kalempang, Massiwale, and have arrested two men suspected of owning the field, South Sulawesi police chief Brig. Gen. Ali Hanafiah said here yesterday. He said the police forensic laboratory in Ujungpandang is investigating whether the plant belongs to the banned kind of cannabis. Pinrang police chief Lt. Col.
Thu, 29 Jan 1998, 00:00 WIB
Cathay eases confusion
Cathay eases confusion JAKARTA (JP): Cathay Pacific Airways announced yesterday its plan to clarify exchange rates when people buy airline tickets due to the instability of the exchange rates. The company said that in order to meet passengers' expectations, starting Feb. 1, every ticket issued by Cathay Pacific must contain the airline exchange rate on the date of issuance (DOI) of the ticket.
Thu, 29 Jan 1998, 00:00 WIB
Special area for isolated tribes
Special area for isolated tribes JAMBI: The Ministry of Forestry has pledged to provide a special area for isolated tribes in the province, particularly the famous Anak Dalam tribe, an official of the ministry said yesterday. "The allocation of the special area is part of the ministry's plan to involve all tribes in forestry development," Director General for Forest Inventory and Management Sumahadi said as quoted by Antara.
Thu, 29 Jan 1998, 00:00 WIB
Six students jailed for murder
Six students jailed for murder JAKARTA (JP): The Central Jakarta District Court sentenced six junior high school students to between one and a half years and two and a half years in jail yesterday for killing a senior high school student in a brawl. The six defendants, aged between 15 and 18 years, were identified as Andi Burhanuddin alias Boang, Cipta Wahyudi, Gidion Oktavianus Silitonga, Novaya Zemlya Valentino, Alvin Libert Ariganda Siagian and Taufik Hidayat.
Thu, 29 Jan 1998, 00:00 WIB
Reforms to restore confidence in banking
Reforms to restore confidence in banking The government announced comprehensive programs to restore public confidence in the banking system on Tuesday. Banking consultant Laksamana Sukardi discusses their significance. Question: What do you think of the banking rehabilitation programs which offer a guarantee to all the claims of depositors and creditors of locally incorporated banks?
Thu, 29 Jan 1998, 00:00 WIB
National dialog
National dialog From Merdeka Nearly all printed media have reported on a national dialog between critically vocal observers and the government. Muhammadiyah chairman Amien Rais has voiced a great number of opinions on succession and national repentance, and recently suggested a national dialog. There has been a number of reactions to this. Some people accept the idea, others have asked what the criteria would be for a national dialog.
Thu, 29 Jan 1998, 00:00 WIB
Nickel shipped to Pomalaa
Nickel shipped to Pomalaa JAKARTA (JP): Publicly listed mining company PT Aneka Tambang (Antam) had made the first shipment of nickel ore from Gee Island to its ferronickel plant in Pomalaa, Maluku, the company said yesterday. The company said in a statement that it shipped 10,000 tons of nickel ore from its trial production on Gee Island to Pomalaa. Gee Island is situated in the Halmahera Islands, Maluku, where Antam has discovered a 4.4 million-ton mineable nickel ore deposit.
Thu, 29 Jan 1998, 00:00 WIB
ASEAN regional currencies
ASEAN regional currencies MANILA (AFP): Intra-ASEAN trade using regional currencies will start only after the battered units have stabilized against the U.S. dollar, President Fidel Ramos said yesterday. Ramos said the mechanics of the scheme were being hammered out by finance ministers and monetary authorities of the Association of Southeast Asian Nations (ASEAN).
Thu, 29 Jan 1998, 00:00 WIB
Australians to help NTT farmers
Australians to help NTT farmers KUPANG, East Nusa Tenggara: Australian businesspeople will train farmers here to process fodder and breed cattle. The head of Australia's Industry and Trade Ministry office, Willem Therik, was quoted by Antara as saying here yesterday that the offer had received a positive response from local residents. The training, he said, will open opportunities for local farmers to earn a profit by selling cattle on the domestic or international market.
Thu, 29 Jan 1998, 00:00 WIB
Where to attend Idul Fitri prayers in the city tomorow
Where to attend Idul Fitri prayers in the city tomorow JAKARTA (JP): As usual, Idul Fitri prayers -- to be held at about 7 a.m. at the end of Ramadan fasting month -- will be held in large mosques, open fields and parking lots in and around the city. Leaders of the Muhammadiyah Moslem organization, who will celebrate the Idul Fitri earlier today, have chosen the Jakarta Fairground in Kemayoran, Central Jakarta, as the center of their Idul Fitri prayers.
Thu, 29 Jan 1998, 00:00 WIB
Fewer workers seen to try luck in Jakarta
Fewer workers seen to try luck in Jakarta JAKARTA (JP): With ongoing layoffs and the prices of goods skyrocketing due to the economic crisis, many people, particularly blue-collar workers, will refuse to return to the capital after Idul Fitri, a noted sociologist said yesterday. "Due to the crisis, I believe they have lost interest in coming back here. What kind of work is there for them?
Thu, 29 Jan 1998, 00:00 WIB
Pop singers, poets sing for good cause
Pop singers, poets sing for good cause By Helly Minarti JAKARTA (JP): The lineup for Charity Night Two last Sunday was a colorful, some would say bizarre, mix of generations and music genres. Performers like Nia Daniati, famed for her smooth ballads and melancholic singing style, shared center stage with new rock bands such as Bima, whose lead singer thumped and stomped along to his music.
Thu, 29 Jan 1998, 00:00 WIB
Rupiah, stocks gain footing in thin trade
Rupiah, stocks gain footing in thin trade JAKARTA (JP): The rupiah and share prices continued to gain a footing in thin trade as currency operators and stock investors benefited from the upbeat momentum resulting from the government's new economic measures. The spot rupiah ended firmer at 9,850/10,800 against the U.S. dollar in Jakarta compared to an opening of 10,500/11,500 in the morning.
Thu, 29 Jan 1998, 00:00 WIB
Soeharto warns societal issues could spark unrest
Soeharto warns societal issues could spark unrest JAKARTA (JP): President Soeharto warned the nation yesterday that religious, ethnic and societal issues were volatile subjects that could easily spark social unrest in times of severe economic crisis. Speaking to Protestant leaders, the President said he expected all religious leaders to jointly defuse the threat and prioritize efforts to promote the nation's unity and integrity.
Thu, 29 Jan 1998, 00:00 WIB
Strange atmosphere hovers over every corner of Indonesia
Strange atmosphere hovers over every corner of Indonesia By Y.B. Mangunwijaya JAKARTA (JP): Everybody knows who the culprits are in the economic calamities and the free fall of the rupiah. Everybody smiles bitterly at the hollow rhetoric of the powerful elite, urging patience from victimized and deprived people on the streets.
Thu, 29 Jan 1998, 00:00 WIB
Cinese New Year passes quietly
Cinese New Year passes quietly JAKARTA (JP): Following Governor Sutiyoso's appeal, families of Chinese descent in the city celebrated their New Year quietly yesterday. A feeling of silence blanketed downtown Glodok, the city's Chinatown in West Jakarta which is a favorite place to buy electronic goods. Most shops in the area were closed, leaving the streets -- which are normally crowded -- almost deserted. On Jan.
Thu, 29 Jan 1998, 00:00 WIB
Private banks start seeking govt guarantee
Private banks start seeking govt guarantee JAKARTA (JP): Dozens of private domestic banks started seeking Bank Indonesia's guarantee on their liabilities to lure back depositors yesterday. Masyhud Ali, president of Bank Putera Multikarsa, said executives or owners of local foreign exchange banks signed agreements with Bank Indonesia, the central bank, yesterday to secure the guarantee.
Thu, 29 Jan 1998, 00:00 WIB
10 killed, 21 injured in bus collision
10 killed, 21 injured in bus collision WONOGIRI, Central Java: Ten people were killed and 21 others injured when a minivan and a minibus collided here in Bulusulur village Tuesday afternoon, police said. Nine people, including the two drivers, were killed instantly while one died later in hospital, local police spokesman Lt. IKM Budayana said yesterday.
Thu, 29 Jan 1998, 00:00 WIB
RI banking sector reforms draw wary response in U.S.
RI banking sector reforms draw wary response in U.S. NEW YORK (Reuters): The Indonesian government's banking and corporate sector reforms offered a glimmer of hope that steps may finally be taken to shore up the financial system, U.S.-based analysts and banking sources said. But they added that the sketchy details unveiled on Tuesday left many questions unanswered. "The mechanics are not clear," said Luis Luis, director of emerging markets research at Scudder Stevens and Clark.
Thu, 29 Jan 1998, 00:00 WIB
Price of fresh milk up
Price of fresh milk up JAKARTA (JP): The Union of Indonesian Dairy Cooperatives (GKSI) and local milk-processing industries have agreed to raise the price of local fresh milk from cooperatives to processing industries by 21 percent to Rp 850 per liter from Rp 702 per liter starting Feb. 1.
Thu, 29 Jan 1998, 00:00 WIB
SilkAir clarifies
SilkAir clarifies We would like to refer to The Jakarta Post's publication of an article titled "Inspection on Boeing 737s" on the page 11 of the paper's Jan. 9 edition. The article said that investigators of last month's SilkAir crash believed attachments were missing on the horizontal stabilizers located at the rear of the aircraft. We would like to inform you that in Singapore, every plane maintenance program must be approved by the Civil Aviation Authority of Singapore (CAAS).
Thu, 29 Jan 1998, 00:00 WIB
Kupang wants five-day week
Kupang wants five-day week JAKARTA (JP): Kupang regency chief Paul Lawa Rihi has come up with a novel idea to make up for the government's decision to freeze the pay of his employees: work fewer hours. Paul proposed a return to the five-day working week, which was tried briefly but abandoned last year reportedly because the move did not lead to improved efficiency as expected. Administration officials could use the extra days for gardening, Paul was quoted by Antara as saying.
Thu, 29 Jan 1998, 00:00 WIB
Military remains on alert for riots in C. Java towns
Military remains on alert for riots in C. Java towns JAKARTA (JP): Soldiers and police remained on alert yesterday in anticipation of a possible spread of unrest in Central Java's Rembang regency, following two minor disturbances in the regency's coastal towns of Kragan and Sarang earlier this week. The Rembang military command's chief of staff Maj.
Thu, 29 Jan 1998, 00:00 WIB
Plywood cartel goes
Plywood cartel goes The plywood cartel will end on Monday provided politically well connected businesspeople cannot have their way and revive it in another form. Minister of Industry and Trade Tunky Ariwibowo has issued four rulings which abolish the plywood joint marketing boards of the Indonesian Wood Panel Association (Apkindo), export quota system and all other restrictive marketing arrangements.
Thu, 29 Jan 1998, 00:00 WIB
Telkom compensation for projects likely
Telkom compensation for projects likely CIREBON, West Java (JP): PT Telkom president Asman Akhir Nasution said here yesterday his company would consider compensating the price escalation resulting from the currency crisis to contractors of ongoing projects. "We will likely continue such projects and will cover the escalation caused by the currency crisis," he said after officiating the start of construction of a telecommunications project in West Java.
Thu, 29 Jan 1998, 00:00 WIB
'Sri' movie may signal coming of artistic wave
'Sri' movie may signal coming of artistic wave By Rayya Makarim JAKARTA (JP): Amid Hollywood blockbusters, trendy sinetron teleserials and the far from resolved monetary crisis, this year is surprising us with yet another awakening of the Indonesian film industry. With a budget of Rp 400 million and a crew of 26, Sri, from first-time director Marselli Sumarno, will be a much anticipated contribution to this year's national film lineup.
Thu, 29 Jan 1998, 00:00 WIB
Foreigners still reluctant to enter property sector
Foreigners still reluctant to enter property sector JAKARTA (JP): Despite the already bargain level in Indonesia's property sector, overseas investors remained hesitant to enter into the sector, analysts said yesterday. "Interest from foreign buyers, particularly from Singapore and Hong Kong, has not resulted in actual investment," said an equity analyst at a joint-venture securities firm. He said the reluctance had been due to the unstable currency, high interest rates and an oversupply.
Thu, 29 Jan 1998, 00:00 WIB
RI team named for Tour de Langkawi
RI team named for Tour de Langkawi JAKARTA (JP): The West Java chapter of the Indonesian Cycling Association has announced the six cyclists who will represent the country in the Tour de Langkawi in Malaysia next month. The team will be Tonton Susanto, Amin Sunarya, Agus, Egi Hariman, Cecep Erfiandi and Eggi Erin Ismail. Association official Teddy Rahmat said yesterday that the six were chosen from a squad of nine following a three-day selection process in Garut, West Java.
Thu, 29 Jan 1998, 00:00 WIB
Retailers may survive for another six months
Retailers may survive for another six months JAKARTA (JP): The country's large retailers would manage to survive the economic crisis for another six months, but many would go bankrupt if the situation kept worsening, Association of Indonesian Retailers (Aprindo) executive director Kustarjono Prodjolalito said yesterday. "Retailers call it a survival period, which will last until June," Kustarjono told The Jakarta Post.