Archive: 7 January 1998
59 articles found
Wed, 07 Jan 1998, 00:00 WIB
Safecrackers at large after stealing Rp 212m
Safecrackers at large after stealing Rp 212m JAKARTA (JP): Police are searching for two groups of suspects following two separate robberies in Central Jakarta which netted Rp 212 million (US$42,500). City Police spokesman Lt. Col. E. Aritonang said on Monday the suspects were believed to have broken into the offices on Sunday and made off with cash and valuable documents.
Wed, 07 Jan 1998, 00:00 WIB
Exports of 12 commodities fell by 24 percent last year
Exports of 12 commodities fell by 24 percent last year JAKARTA (JP): Exports of 12 commodities decreased considerably in the first eight months of last year compared to the same period in 1996. The Ministry of Trade and Industry said exports of the commodities dropped as much as 24 percent last year, partly due to a decline in their competitiveness. Production was also lower last year, so commodities were prioritized to meet domestic demands, it said.
Wed, 07 Jan 1998, 00:00 WIB
Asian crisis to boost S'pore oil industries
Asian crisis to boost S'pore oil industries SINGAPORE (AFP): The Asian economic crisis is expected to boost Singapore's oil and petrochemical industries with would-be rivals hobbled by financing problems, according to an industry journal. The January issue of the monthly Strategist Oil Report, received here yesterday, said problems besetting South Korea, Thailand and Malaysia are hampering their efforts to challenge Singapore's leading regional role in the industry.
Wed, 07 Jan 1998, 00:00 WIB
Spotlight
Spotlight Photo A: Hotel Sahid Jaya Jakarta LOOKS FAMILIAR: Outgoing general manager of the Sahid Jaya Jakarta, Guido J.A. Gyde, sizes up his look-alike in the form of a wayang golek puppet, a farewell present from the hotel management. A party on Dec. 26 marked the end of his four-year term and welcomed Christopher Green as his replacement.
Wed, 07 Jan 1998, 00:00 WIB
Investors demand political certainty
Investors demand political certainty By Aleksius Jemadu BANDUNG (JP): When the minister of finance and leaders of the Indonesian Chamber of Commerce (Kadin) visited the United States on a business mission recently, they were confronted with questions from American investors regarding policy transparency in Indonesia. The questions focused particularly on the nation's preparations for a post-Soeharto era. And it was not surprising that they were curious about who would be the next vice president.
Wed, 07 Jan 1998, 00:00 WIB
Amien Rais seeks support for political reforms
Amien Rais seeks support for political reforms JAKARTA (JP): Shrewd politician Amien Rais invited pro- democracy activists Megawati Soekarnoputri and Abdurrahman Wahid yesterday to join hands in a coalition calling for political reform in the country. He said calls for reform would be more effective if Megawati, the ousted leader of the Indonesian Democratic Party (PDI), and Abdurrahman, the chairman of the 30 million-strong Nahdlatul Ulama (NU) Moslem organization, united in a rally for reform.
Wed, 07 Jan 1998, 00:00 WIB
Opposing views on human rights
Opposing views on human rights By Arif Havas Ugroseno This is the first of two articles on the global human rights debate. JAKARTA (JP): The global human rights debate between universalism and cultural relativism continues and has reached a stalemate. In various intellectual circles, the issue of cultural relativism is still deliberated even though the debate is many decades old.
Wed, 07 Jan 1998, 00:00 WIB
1.4 million new job seekers unable to find employment
1.4 million new job seekers unable to find employment JAKARTA (JP): Some 1.4 million new job seekers will be unable to find employment, pushing the number of unemployed in the country this year to 5.8 million people. Records from the Ministry of Manpower show that if the economy this year grows by 3.5 percent, only 1.3 million new job opportunities will be created for the expected 2.7 million entering the job market. By the end of 1997, the number of unemployed already stood at 4.4 million.
Wed, 07 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: Big Brother Jake 3:10 Indonesian Children 3:35 Talk Show: Kotak Pos 4:00 Regional News 4:30 Educational Quiz: Cepat Tepat 5:10 TV Drama: Takaran Hati 5:40 Boy scout: Bogor Tegar Beriman 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 7:35 Entrepreneurship Program: Mitra Kita 8:05 Quiz: Dewasa 9:00 World News 9:30 Koran Recital 9:45 Religious...
Wed, 07 Jan 1998, 00:00 WIB
Rupiah hits historic low as stock prices lose ground
Rupiah hits historic low as stock prices lose ground JAKARTA (JP): The rupiah hit a historic low of 7,750 to the U.S. dollar in the morning trading session yesterday before recovering to 6,950/7,250 at the close on aggressive dollar- buying by state-owned banks. As the rupiah recovered, stock prices on the Jakarta Stock Exchange (JSX) lost ground as most players were greatly concerned with the persistent decline of the rupiah in the currency market over the past few days, stock brokers said.
Wed, 07 Jan 1998, 00:00 WIB
Bare-bones budget
Bare-bones budget The draft state budget for the 1998/1999 fiscal year beginning in April will have a contractive impact on the domestic market as government investment will decline in real terms by about 5 percent, while most of the 48.6 percent increase in the operating budget will go to servicing the foreign debts.
Wed, 07 Jan 1998, 00:00 WIB
KL civil servants' allowances cut
KL civil servants' allowances cut KUALA LUMPUR (AP): With Malaysia sinking deeper into economic crisis, the government slashed yesterday entertainment funds for civil servants, the local news agency Bernama reported. Beginning this year, entertainment allowances for government and police officials will be trimmed by more than 10 percent, the government said in a statement.
Wed, 07 Jan 1998, 00:00 WIB
Riau wants to help returning workers
Riau wants to help returning workers PEKANBARU, Riau: Authorities here have expressed their readiness to assist Indonesian workers following their repatriation by the Malaysian government. Bachrum Effendi of the local manpower office said yesterday that considering the proximity of Riau to Malaysia, it was logical to make the province the transit point for returning Indonesian workers. Malaysian Deputy Home Affairs Minister Moh.
Wed, 07 Jan 1998, 00:00 WIB
Soaring dollar curtails sports bodies' training
Soaring dollar curtails sports bodies' training JAKARTA (JP): The soaring value of the American dollar against the local currency has added further salt in the wounds of national sports organizations struggling to stage training programs for the 13th Asian Games in Bangkok in December.
Wed, 07 Jan 1998, 00:00 WIB
President Ramos says Asian miracle not over
President Ramos says Asian miracle not over MANILA (Reuters): Philippine President Fidel Ramos expressed optimism yesterday that East Asia would weather the currency meltdown that has led some countries in the region to seek help from the International Monetary Fund. "The gloom that now pervades the Asian scene does not necessarily mean that the Asian economic miracle is over, as some western analysts have lately been saying," Ramos said in his year-end report to the nation.
Wed, 07 Jan 1998, 00:00 WIB
Team probes RP mine deaths claim
Team probes RP mine deaths claim ZAMBOANGA CITY (DPA): An eight-member team from the Philippine environment department started an investigation yesterday into claims that 80 gold miners were killed in a tunnel collapse -- not six as the government maintains. "The team will do a geological hazard assessment and check all the landslide-prone areas of Mount Diwalwal," said engineer Constancio Paye, chief of the department's Mines and Geo-Sciences Bureau in the southern island of Mindanao.
Wed, 07 Jan 1998, 00:00 WIB
Malaysia has no need to seek IMF bailout: Analysts
Malaysia has no need to seek IMF bailout: Analysts KUALA LUMPUR (AFP): Malaysia has no need to seek assistance from the International Monetary Fund (IMF) as its exchange reserves and short-term debts are still at manageable levels, analysts said yesterday. But the country may have to seek soft loans from individual countries to ease problems arising from its ailing currency and fears that corporations may not be able to meet their foreign debt obligations, they said.
Wed, 07 Jan 1998, 00:00 WIB
Crash victims' burial on Jan. 19
Crash victims' burial on Jan. 19 JAKARTA (JP): The remains of 104 victims of the SilkAir airplane which plunged into the Musi River, South Sumatra, last month will be buried on Jan. 19, an air force official said yesterday. Commander of the Palembang Air Force Base Lt. Col. Yanuwardi said Minister of Transportation Haryanto Dhanutirto and Singapore Communications Minister Mah Bow Tan agreed the remains would be buried in Palembang, capital of South Sumatra. "The remains will be buried on Jan.
Wed, 07 Jan 1998, 00:00 WIB
Where are the profits?
Where are the profits? From Merdeka Indonesians have made progress in their way of thinking. This is evident from the fact that when people chat on the sidewalk or at a coffee stand they always keep abreast with the country's latest developments. People are talking about all sorts of pertinent issues. Questions are being asked about many things -- about the impact of the present monetary crisis, for instance, or why common people usually become the first victims.
Wed, 07 Jan 1998, 00:00 WIB
Regional markets hit by currency weakness
Regional markets hit by currency weakness HONG KONG (AFP): Most Asian bourses plummeted yesterday as regional currencies were sold down to historic new lows, deepening the gloom over regional financial markets. Hong Kong shares fell 1.6 percent, Tokyo 0.4 percent, Singapore and Kuala Lumpur 3.8 percent, Jakarta 1.9 percent, Manila 2.8 percent, Taipei 0.8 percent and Shanghai 3.6 percent.
Wed, 07 Jan 1998, 00:00 WIB
W. Jakarta plans wholesale market
W. Jakarta plans wholesale market JAKARTA (JP): West Jakarta mayoralty plans to build a 15- hectare wholesale market in the Rawa Buaya subdistrict of Cengkareng to supply commodities coming from West Java and Sumatra. Mayor Sutardjianto said yesterday that the proposed market would be more cost efficient for trucks carrying goods because it would shorten their journey.
Wed, 07 Jan 1998, 00:00 WIB
USDA increases export loans for SE Asian nations
USDA increases export loans for SE Asian nations WASHINGTON (Reuters): The U.S. Agriculture Department said on Monday that it is extending an additional $545 million in loan guarantees to help financially-troubled Southeast Asian nations buy U.S. farm goods. The action includes a new $100-million export credit line for Malaysia and raises the total amount of USDA export credits available to the region to more than $1 billion, USDA said.
Wed, 07 Jan 1998, 00:00 WIB
USA I wins women's Venice Cup
USA I wins women's Venice Cup By Djanwar Madjolelo JAKARTA (JP): The Venice Cup final was a repeat of last year's Olympiad final but with new members in the USA I team, playing against China. The American players in this women's competition were Tobi Sokolov-Milbreed, Jill Meyer-Randi Montin, Marinesa Letizia, Lisa Berkowitz and nonplaying captain (NPC) Sue Picus. The Chinese team was Gu ling-Zhang Ya lan, Sun Ming-Lu Yan, Wang Wen Fei-Zhang Yu and NPC Zhang Wei Li.
Wed, 07 Jan 1998, 00:00 WIB
Bank merger a necessity
Bank merger a necessity As far as we know, the merger of state-run banks is not a new idea. The government's announcement last Wednesday should therefore not give us reason for surprise. Monetary crisis or not, improving order in the national banking sector, which includes our state-owned banks, has for some time been considered a necessity, a measure that had to be taken because our national banking sector was becoming inefficient.
Wed, 07 Jan 1998, 00:00 WIB
No clues in Christmas double murder
No clues in Christmas double murder JAKARTA (JP): East Jakarta Police detectives are no closer to solving last week's double murder of a mother and daughter despite questioning at least 13 people. The precinct chief, Lt. Col. Syahrir Kuba, said yesterday a lack of information about the family from Cipinang Indah in Duren Sawit had hampered the police investigation.
Wed, 07 Jan 1998, 00:00 WIB
Corruption at Bank Indonesia
Corruption at Bank Indonesia From Kompas The Jamsostek case (over the use of state social security funds for legislative deliberations) is still unsolved and now there is a report of corruption committed by a number of Bank Indonesia directors to the tune of Rp 1.5 trillion. Compare this amount with the Rp 5 billion collected up until Dec. 30 to ease the famine in Irian Jaya.
Wed, 07 Jan 1998, 00:00 WIB
10 men arrested with pills and marijuana
10 men arrested with pills and marijuana JAKARTA (JP): Police apprehended yesterday 10 men in South and East Jakarta for possessing a total of 40 Nipam barbiturate pills, 15 Ecstasy pills and three marijuana cigarettes. City police spokesman Lt. Col. E. Aritonang said the men were arrested in two separate incidents and all were being detained at Jakarta Police Headquarters for a preliminary investigation.
Wed, 07 Jan 1998, 00:00 WIB
Nepotism and transparency
Nepotism and transparency On the front page of the Dec. 31 edition of The Jakarta Post Minister of Manpower Abdul Latief strongly denied allegations of financial impropriety saying "I'll be damned. I'm a tycoon..." This declaration brings to mind a question: How do Indonesia's public servants become wealthy tycoons? Government salaries in Indonesia are notoriously low.
Wed, 07 Jan 1998, 00:00 WIB
Body identified at last
Body identified at last JAKARTA (JP): The body sent to the Cipto Mangunkusumo General Hospital Sunday was identified yesterday as Darwin B. Ismail by relatives who recognized his body on television. Darwin, 38, a resident of Jl. Jati Pinggir, Petamburan in Central Jakarta, was found dead on Jl. Muara Baru of Cilincing in North Jakarta Sunday. The Tanah Abang cloth trader was believed to have been the victim of a robbery as his wallet, wristwatch and rings were missing when he was found.
Wed, 07 Jan 1998, 00:00 WIB
Swiss airline offers Irian help
Swiss airline offers Irian help JAYAPURA, Irian Jaya: A Swiss airline, Heli Swiss, has offered its assistance to Irian Jaya Governor J. Pattipi to transport food to people living in the province's remote areas which are suffering from food shortages. Head of the provincial civil defense unit (Hansip), Sam Leimena, told Antara here yesterday that the provincial administration received the Swiss offer late last month.
Wed, 07 Jan 1998, 00:00 WIB
Where to go in Jakarta:
Where to go in Jakarta: Exhibitions * Photo Exhibition: 100 old photos from Indonesia and Singapore, at Galeri TC (Twilight Cafe), Jl. Kemang Raya No.24A South Jakarta, Sunday to Thursday, 11:30 a.m. to 12 p.m., Friday to Saturday 11:30 a.m. to 2 a.m., until Jan. 29. * Photo Exhibition: Kilas Balik 97, at Galeri Foto Jurnalistik Antara, Jl. Antara No. 59 Pasar Baru, Central Jakarta, daily except Monday, 11:30 a.m. to 7:30 p.m., until Jan. 14.
Wed, 07 Jan 1998, 00:00 WIB
Peace returns to Bandung after street vendors' riot
Peace returns to Bandung after street vendors' riot BANDUNG, West Java (JP): Things returned to normal in the city here yesterday after a brief melee a day earlier which saw hundreds of shops damaged by rampaging vendors. Rocks and debris which had littered Jl. Ahmad Yani were cleaned away, and apart from the presence of some security officers and broken glass from buildings, all was quiet.
Wed, 07 Jan 1998, 00:00 WIB
PDI set to drop its motion on human rights
PDI set to drop its motion on human rights JAKARTA (JP): The Indonesian Democratic Party (PDI) looks set to drop its bid for a separate and powerful People's Consultative Assembly decree on human rights, leaving fellow minority faction the United Development Party (PPP) alone to battle it out for the unprecedented motion.
Wed, 07 Jan 1998, 00:00 WIB
Ramadhan time for Jakarta
Ramadhan time for Jakarta Wednesday Maghrib 6.15 p.m. Thursday Imsak 4:13 a.m. Subuh 4.23 a.m.
Wed, 07 Jan 1998, 00:00 WIB
Government to tighten spending
Government to tighten spending JAKARTA (JP): The government will tighten spending in the next fiscal year, but will likely refrain from hiking fuel prices. Total government expenditures in fiscal year 1998/1999 starting April 1 will still rise by a hefty 32 percent to Rp 133.5 trillion, but most increases will go toward servicing its huge foreign debt and subsidizing domestic fuel consumption. Little of the extra money will go toward bolstering the ailing economy.
Wed, 07 Jan 1998, 00:00 WIB
Lack of trust worsens economic crisis
Lack of trust worsens economic crisis By Asip Agus Hasani YOGYAKARTA (JP): Many people have questioned why the Indonesian rupiah continues to wane against the U.S. dollar although the government has assured it is pursuing the appropriate economic policies. But political observer and University of Gadjah Mada sociologist Loekman Soetrisno maintains that the current crisis is not merely a question of economics but also a matter of political trust.
Wed, 07 Jan 1998, 00:00 WIB
Lampung misses resettlement target
Lampung misses resettlement target BANDAR LAMPUNG, Lampung: The local office of the Ministry of Transmigration failed to achieve its target to resettle 2,000 forest squatter families last year due to the ongoing economic crisis. The head of the ministry's provincial office, P. Djogjapratono said his office only sent 343 families to Kalimantan and another 750 families to local sugar plantations. "There are 85,139 squatter families in this province.
Wed, 07 Jan 1998, 00:00 WIB
S'pore company buys Indonesian plants
S'pore company buys Indonesian plants SINGAPORE (Reuters): Singapore Power Ltd (SP) said yesterday its joint venture company had paid US$349 million to acquire power plants from Asia Pulp & Paper Co. SP said in a statement that Asia Independent Power (BVI) Ltd (AIP), would acquire some of the power and steam plants of Asia Pulp & Paper's (APP) subsidiaries, PT Indah Kiat Pulp and Paper Corp Tbk and PT Pindo Deli Pulp and Paper Mills in West Java, Indonesia.
Wed, 07 Jan 1998, 00:00 WIB
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Jan.
Wed, 07 Jan 1998, 00:00 WIB
Inflation hits double digit
Inflation hits double digit JAKARTA (JP): Indonesia's annual inflation rate was 11.05 percent last year, the first double-digit inflation rate since 1983. The Central Bureau of Statistics said yesterday that the high annual inflation rate in 1997 was attributed to the 2.04 percent increase in the monthly inflation rate in December. The annual inflation rate was checked at 11.46 percent in 1983 but it declined to between 4.94 percent and 9.5 percent in following years until 1996.
Wed, 07 Jan 1998, 00:00 WIB
Westcoast, Duke buy RI plant
Westcoast, Duke buy RI plant VANCOUVER (Reuters): A consortium led by units of Westcoast Energy Inc and Duke Energy Corp has acquired a 195-megawatt power plant and transmission facilities under construction in Irian Jaya, Indonesia, Westcoast said yesterday. The power-related assets valued at about US$360 million were purchased from P.T.
Wed, 07 Jan 1998, 00:00 WIB
Legislature told to avoid tours
Legislature told to avoid tours KUPANG, East Nusa Tenggara: Governor Herman Musakabe has asked the provincial legislature not to include comparative studies abroad on its agenda because they are too costly. "We are now facing a monetary crisis, therefore we had better make comparative studies which we can afford and which will benefit development in this province", he said here while giving directives to newly elected Provincial Legislative Council members.
Wed, 07 Jan 1998, 00:00 WIB
230 elementary school buildings need renovation
230 elementary school buildings need renovation JAKARTA (JP): At least 230 of the 2,593 public elementary school buildings in Jakarta are in disrepair and need renovating, an official said yesterday. "The 230 buildings are mostly in a shabby condition because of a lack of maintenance or due to being old," said an official, who asked for anonymity.
Wed, 07 Jan 1998, 00:00 WIB
SE Asian currencies plunge to new lows
SE Asian currencies plunge to new lows SINGAPORE (Reuters): Asian financial markets took another heavy battering yesterday as U.S. funds cut asset allocations and companies desperate to hedge their exposures fled regional currencies for the rampant U.S. dollar. Several Southeast Asian currencies plunged to new lows, taking some stock markets down with them.
Wed, 07 Jan 1998, 00:00 WIB
Japan's foreign reserves fall
Japan's foreign reserves fall TOKYO (AFP): Japan's foreign exchange reserves declined US$7.59 billion in December to $220.8 billion, falling for the first time since July 1997, the finance ministry said yesterday. The decline in the month was due to market intervention by Japanese monetary authorities to halt the yen's drop against the dollar, the ministry said. In July last year, Japan's foreign exchange reserves fell $58 million.
Wed, 07 Jan 1998, 00:00 WIB
Rupiah set at 4,000 to U.S. dollar in state budget
Rupiah set at 4,000 to U.S. dollar in state budget JAKARTA (JP): The government set the U.S. dollar-rupiah exchange rate at 4,000 in its calculations for the 1998/1999 state budget. President Soeharto said last night that the government did not want to see the rupiah too strong, thus weakening the competitiveness of Indonesian exports. "Nor should we let the value of our rupiah to be too low, as it will put an excessive burden on our economy," Soeharto said in his state budget address.
Wed, 07 Jan 1998, 00:00 WIB
Draft budget praised as turning point to crisis
Draft budget praised as turning point to crisis JAKARTA (JP): The government's draft 1998/1999 budget and President Soeharto's speech got a nod of approval last night as many said it could serve as a turning point to the country's economic woes. Legislator Theo Sambuaga, of the Golkar faction, said yesterday that the draft budget was "realistic". "The draft budget shows that we are in a situation where we have to tighten our belts and implement austerity measures.
Wed, 07 Jan 1998, 00:00 WIB
1,200 workers go on strike
1,200 workers go on strike TANGERANG (JP): About 1,200 workers of a zipper company went on strike yesterday, protesting the management's plan to cut their Idul Fitri bonuses by 10 percent. The workers gathered outside the PT Fajarindo Poliman Zipper factory and security guards were forced to move them into the complex in a bid to prevent them from obstructing traffic.
Wed, 07 Jan 1998, 00:00 WIB
Soedradjad misses briefing
Soedradjad misses briefing JAKARTA (JP): Bank Indonesia Governor J. Soedradjad Djiwandono missed the 1998/1999 budget briefing to journalists at the Ministry of Information office. Coordinating Minister for Economy and Finance Saleh Afiff and Minister/State Secretary Moerdiono felt it necessary to explain Soedradjad's whereabouts to prevent further speculation in the currency market. "The governor of Bank Indonesia cannot attend this briefing because he is having minor knee surgery abroad.
Wed, 07 Jan 1998, 00:00 WIB
Cerdas and Ivan win berths to Europe
Cerdas and Ivan win berths to Europe JAKARTA (JP): International Masters Cerdas Barus and Ivan Situru have won tickets for a European chess tour together with three other players. Cerdas and Ivan won the berths after coming first and second respectively in the Bali Jeff chess tournament that concluded Monday. Cerdas defeated IM Nasib Ginting on the 25th move after a Queen's Gambit opening. With this victory, he collected a total 8.0 Victory Points and won the Bali Jeff tournament.
Wed, 07 Jan 1998, 00:00 WIB
Ansett to serve Brisbane-Bali route
Ansett to serve Brisbane-Bali route JAKARTA (JP): Australian private airline Ansett International will start its first international operations from Brisbane, with a weekly Brisbane-Bali nonstop service on Saturday nights starting April 4, the airline said yesterday. Ansett International general manager Craig Wallace said the new service aimed to meet an increasing demand for flights between Brisbane and Bali.
Wed, 07 Jan 1998, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 6, 1998: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 825 0 0 AHAP Insurance 500 0 0 Alter Abadi 450 0 0 Alumindo Light Metal 325 -25 76,000 Alumindo Perkasa 250 0 0 Aneka Kimia Raya 1,125 -50 112,000 Aneka Tambang 1,375 0 4,305,500 Anwar Sierad 175 0 109,000 Apac Centertex Corp.
Wed, 07 Jan 1998, 00:00 WIB
Pertamina to continue restructuring
Pertamina to continue restructuring JAKARTA (JP): The newly installed president of state-owned oil and gas company Pertamina, Soegianto, pledged yesterday to continue and give priority to the company's ongoing restructuring program. Soegianto, 67, said Pertamina's new board of directors would continue restructuring and streamlining the company's operations. "Pertamina's restructuring will last at least five years.
Wed, 07 Jan 1998, 00:00 WIB
Harmoko tells nation not to forget old spirit
Harmoko tells nation not to forget old spirit JAKARTA (JP): House Speaker Harmoko urged the nation yesterday to regain its old fighting spirit to survive future challenges stemming from the current economic situation. Speaking at a plenary House of Representatives session for the presentation of the 1998/1999 planned state budget, Harmoko said Indonesia had proven it could overcome tough tests in the past and it could do so again.
Wed, 07 Jan 1998, 00:00 WIB
Indonesia to enjoy $1b in balance of payments
Indonesia to enjoy $1b in balance of payments JAKARTA (JP): Indonesia, despite a loss in investors' confidence in its economy, expects to enjoy a surplus of US$1.07 billion in the 1998/1999 balance of payments. However, the surplus would come mainly from the staggering official capital inflows, in the form of foreign debts, rather than from private capital inflows, according to government estimates.
Wed, 07 Jan 1998, 00:00 WIB
Depositors' money at liquidated banks
Depositors' money at liquidated banks From Bisnis Indonesia I think the blocking of depositors' money at liquidated banks is no small problem. The money is the result of years of saving. Some of the deposits may come from a lump sum retirement payment in which the bank interest is used by the retired employee to live on. If retired people lose their savings, how could they and their family live? Many people could become ill from such stressful circumstances.
Wed, 07 Jan 1998, 00:00 WIB
Greed and economic turmoil
Greed and economic turmoil I salute Pak Soegih Arto for his recent letter published in the Dec. 30 edition of The Jakarta Post, to boost our fighting spirit. We need such reminding in order to not let ourselves become too downcast. The same with Pak Ali Wardhana's statement I read in The Jakarta Post a few weeks ago, for it reminded us that we have indeed been "Asian tigers". We should not be too frightened over the current economic crisis.
Wed, 07 Jan 1998, 00:00 WIB
Govt urged not to raise minimum wage this year
Govt urged not to raise minimum wage this year JAKARTA (JP): Industry associations urged the government not to raise the minimum daily wage, but said if it could not be avoided the increase should be circumvented from the monthly fee companies have to pay to the state workers insurance company PT Jamsostek.
Wed, 07 Jan 1998, 00:00 WIB
Economists say state budget too optimistic
Economists say state budget too optimistic JAKARTA (JP): The 32.1 percent increase in the 1998/1999 draft state budget unveiled by President Soeharto last night is unrealistic in the current economic situation, according to economists. "It is overly optimistic and is almost wishful thinking," Indonesian Business Data Center chairman Christianto Wibisono said yesterday.