Indonesian Political, Business & Finance News

Archive: 2 October 1998

56 articles found

Trauma counseling seminar for women

Trauma counseling seminar for women JAKARTA: Representatives of women's support groups from around the country are participating this week in a seminar on trauma counseling organized by the Australia-Indonesia Institute (AII) and the Indonesian Women's Coalition for Justice and Democracy.

Masked men slay 83 in attacks on 'black magic'

Masked men slay 83 in attacks on 'black magic' SURABAYA (JP): A mysterious band of masked men has reportedly killed at least 83 people in the past two months in East Java. The first victims were said to be suspected practitioners of "black magic", but the toll has also included religious teachers...

Rupiah stays at 10,000 level but stocks fall

Rupiah stays at 10,000 level but stocks fall JAKARTA (JP): The rupiah managed to stay relatively unchanged at 10,000 level to the U.S. dollar on Thursday despite several other regional currencies losing ground.

Dozens arrested for timber thefts

Dozens arrested for timber thefts SEMARANG: Police on Tuesday confiscated more than 3,000 cubic meters of teak wood in three Central Java districts and arrested dozens of people suspected of stealing and receiving the stolen timber, Antara reported.

Our two nations widen mutual partnership

Our two nations widen mutual partnership On October 3, we celebrate the 50th anniversary of the founding of the Republic of Korea.As the Korean Ambassador to Indonesia, I wish on this day to extend a warm hand of friendship to the Indonesian people.

Soeharto, Prabowo invited to ABRI anniversary event

Soeharto, Prabowo invited to ABRI anniversary event JAKARTA (JP): Former president Soeharto and his son-in-law Lt. Gen. (ret) Prabowo Subianto, together with other senior retired generals, are to be invited to the Armed Forces' (ABRI) 53rd anniversary on Monday.

Asia's banks hold $1,18 trillion in problem loans: Lehman Brothers

Asia's banks hold $1,18 trillion in problem loans: Lehman Brothers TOKYO (AFP): Asia's banks are holding US$1,180 billion in problem loans and face a long, slow road to recovery, the U.S. investment bank Lehman Brothers said in a report here Thursday.

Reporter stabbed, robbed in car

Reporter stabbed, robbed in car JAKARTA (JP): A reporter from the Suara Pembaruan evening daily was robbed and assaulted in his car on Thursday morning after stopping to receive a call on his cell phone.Upa Labuhari had pulled over to the side of the street at about 9 a.m. near the Jl.

PDI to fight for ABRI's presence in House

PDI to fight for ABRI's presence in House JAKARTA (JP): The tiny Indonesian Democratic Party (PDI) faction of the House of Representatives will fight for the continued representation of the Armed Forces in the legislative body, a party executive has said.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Oct. 1, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 325 0 0 AHAP Insurance 400 0 0 Alter Abadi 200 0 50,000 Alumindo Light Metal 325 0 0 Alumindo Perkasa 225 0 0...

Students protest in various cities

Students protest in various cities JAKARTA (JP): Students took to the streets of many cities for various reasons on Thursday, with Jakarta witnessing at least two large rallies focusing on President B.J. Habibie.

CalEnergy ready to settle dispute with local firms

CalEnergy ready to settle dispute with local firms JAKARTA (JP): Himpurna California Energy (HCE) Ltd, a subsidiary of U.S. giant power company CalEnergy Co., owner of the Dieng geothermal power project in Central Java, said on Thursday it was ready to settle the payment dispute with local...

Asian monies mixed against U.S. dollar

Asian monies mixed against U.S. dollar SINGAPORE (Dow Jones): Southeast Asian currencies were mixed against the U.S. dollar in late trade Thursday, as attention remained focused on the Deutsche mark and the yen, and non-Asian markets such as Brazil.

Habibie leads ceremony marking abortive coup

Habibie leads ceremony marking abortive coup JAKARTA (JP): President B.J. Habibie led a brief ceremony at Lubang Buaya in East Jakarta on Thursday morning to mark Pancasila Sanctity Day.The ceremony was attended by Cabinet ministers and the families of the six generals and one captain killed in an...

BHP clarifies

BHP clarifies In order to avoid misinterpretation of BHP activities, I must correct several inaccuracies in the article Compensation demand in The Jakarta Post on Sept. 29.Firstly, BHP is not a U.S.-based nickel mining company but a diversified minerals and petroleum resources company with...

Competition picks trio of talented piano composers

Competition picks trio of talented piano composersBy Yudha Kartohadiprodjo JAKARTA (JP): Many of us are quite familiar with jazz piano compositions. Some of us are even more familiar with classical piano pieces.

Economist warns fair election difficult in economic crisis

Economist warns fair election difficult in economic crisis JAKARTA (JP): Noted senior economist Sarbini Sumawinata said it was hard to imagine the realization of fair and free elections in the midst of widespread difficulties in buying inexpensive food.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Bali's conversion rates on Oct. 1, 1998: TT rates Bank notes rates ------------------------------------------ Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 10,700.00 10,900.00 10,700.00 10,950.00Austrian schilling 1 878.20 948.

Activists protest rights abuses

Activists protest rights abuses BANGKOK (DPA): A group of Asian political activists staged protests at the Myanmar, Malaysian, Indonesian, Philippines and Singapore embassies in Bangkok on Thursday against growing violations of human rights in Southeast Asia.

PDI 'reconciliation' efforts a failure, Budi Hardjono says

PDI 'reconciliation' efforts a failure, Budi Hardjono says JAKARTA (JP): The government-sanctioned chairman of the splintered Indonesian Democratic Party (PDI), Budi Hardjono, said on Thursday that he has brought to an end his self-initiated effort to reconcile his camp with that of popular...

George calls for criminal proceedings against Soeharto

George calls for criminal proceedings against Soeharto JAKARTA (JP): The scholar and government critic George Junus Aditjondro has called for criminal proceedings to be brought against former president Soeharto, saying there is already enough circumstantial evidence to prove that the latter amassed...

Anti-dumping charge rejected

Anti-dumping charge rejected BRUSSELS (AFP): European Union members' permanent representatives on Wednesday rejected proposed anti-dumping duties for five years on unbleached cotton fabrics from China, Egypt, India, Indonesia and Pakistan, EU sources said.

Canada to join APEC summit

Canada to join APEC summit OTTAWA (Reuters): Canada said on Wednesday it will attend the November APEC summit in Kuala Lumpur despite its concerns over the treatment of dissidents in Malaysia."We are intending to go to Kuala Lumpur, and we will take up concerns with Mr.

Where does Asia go from here?

Where does Asia go from here?By Mar'ie Muhammad The following article is based on a paper presented at the Pacific Rim Forum in Shanghai on Sept. 23, 1998. SHANGHAI: The prolonged and deepening crisis in Southeast and East Asia provides considerable scope for a re-evaluation of, and even further...

Bankers told to pay debt in one year

Bankers told to pay debt in one year JAKARTA (JP): President B.J. Habibie has ordered owners and former owners of the country's troubled commercial banks to repay obligations to the government in cash within one year or face stiff legal action, Frans Seda, a senior presidential economic advisor,...

On foreign currency flows

On foreign currency flows I would like to respond to Mr.C.J.de Koning's two articles in your paper "RI's international stakeholders" on Sept. 18, 1998 and "Risk reduction strategy needed" on Sept. 25, 1998.

Estrada urges Danes boycott

Estrada urges Danes boycott MANILA (AFP): President Joseph Estrada called on Thursday for a national boycott of rising Hollywood star Claire Danes over published comments in which she trashed the Philippines for its beggars and unsanitary conditions.

PT Hankook Ceramic buoys business in RI

PT Hankook Ceramic buoys business in RI Ceramics company PT Hankook Ceramic Indonesia was founded in 1991 at an investment of US$10 million, with its site at Pasar Kemis, Tangerang, West Java.The company's expansion was rapid.

Citibank ordered to pay Rp 8.87b for credit mistake

Citibank ordered to pay Rp 8.87b for credit mistake JAKARTA (JP): The West Jakarta District Court has ordered the Jakarta branch of Citibank N.A. to pay Rp 8.87 billion (US$806,303) in compensation for wrongfully refusing to clear checks written by businessman Hendra Tjoa.Presiding judge H.

Bapepam urged to step up probe on trading scams

Bapepam urged to step up probe on trading scams JAKARTA (JP): Analysts have called on the capital market watchdog and stock exchange operators to step up efforts to investigate alleged insider trading practices in the local stock market.

Land certificate not yet issued

Land certificate not yet issued As the legitimate owner of a house on Jl. Metro Alam II, Pondok Indah, South Jakarta, that we bought more than three years ago, to date we have not received the HGB land certificate from the developer, PT Metropolitan Kencana (PT MK).

Government initiates only half-hearted change

Government initiates only half-hearted changeBy Adrianus Meliala JAKARTA (JP): A foreign friend asked me once what does reform actually mean to most Indonesians. Since it was then only about a week after Soeharto was toppled on May 21, 1998, I still had the courage to say that it was a mini...

Month-long program showcases women

Month-long program showcases women JAKARTA (JP): The ASEAN Secretariat is organizing ASEAN Women's Month to promote the role of women in all spheres of life at both national and regional levels.Titled Holding Up The Sky, the activities will take place from Oct. 3 to Oct.

Estrada threatens to boycott APEC summit

Estrada threatens to boycott APEC summit MANILA (Agencies): Philippines President Joseph Estrada on Thursday threatened to boycott next month's Asia-Pacific Economic Cooperation (APEC) summit in Malaysia, citing the treatment meted out to jailed former deputy premier Anwar Ibrahim.

French Musicatreize plays with music and words

French Musicatreize plays with music and wordsBy Izabel Deuff JAKARTA (JP): For superstitious people, "thirteen" is usually considered a number signifying misfortune. As far as Musicatreize (music played by thirteen people) is concerned, the number has brought it luck.

Bob Hasan still oversees athletic body: Official

Bob Hasan still oversees athletic body: Official JAKARTA (JP): The Indonesia Amateur Track and Field Association (PASI) is conducting business as usual, despite the ongoing police investigation into its boss, timber and banking tycoon Mohammad "Bob" Hasan, an official said on Thursday.

Dong Joe Indonesia boasts a success

Dong Joe Indonesia boasts a success Shoe manufacturer PT Dong Joe Indonesia was founded in 1988 at an investment of US$4.2 million. Foreign investment totaled 80 percent and construction on the plant began the same year.

Hotel Mulia 'must keep commitments'

Hotel Mulia 'must keep commitments' JAKARTA (JP): State Minister of Youth Affairs and Sports Agung Laksono has urged the management of Hotel Mulia Senayan to honor their commitment to provide athletes with affordable accommodation.

S'pore planes, ships 'in Malaysia'

S'pore planes, ships 'in Malaysia' KUALA LUMPUR (Reuters): Malaysia said on Thursday that Singapore aircraft and vessels had entered Malaysian territory without permission at least seven times in two weeks.The government, citing noise and pollution problems and public concern, said on Sept.

Pakistan embassy responds

Pakistan embassy responds I refer to the London Observer story How a Third World leader lives beyond his country's means published by The Jakarta Post on Sept. 30, 1998.The whole story by the London Observer is based on a so-called report by Rahman Malik who is now an absconder and against whom an...

Malaysian politics now at a watershed

Malaysian politics now at a watershedBy Nelson Graves KUALA LUMPUR (Reuters): A retired army officer says he no longer ventures outside at night in Malaysia's capital because he fears civil unrest.Kuala Lumpur is hardly under siege, but the officer's anxiety reflects the political sea change under...

Akbar Tanjung regrets Anwar's beating

Akbar Tanjung regrets Anwar's beating JAKARTA (JP): Minister/State Secretary Akbar Tandjung aired deep concern on Thursday over the mistreatment of sacked deputy prime minister Anwar Ibrahim.He also said President B.J.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Cartoon: Warner Kartun 3:05 Family's Welfare: Harmoni Kehidupan 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Educational Quiz: Cerdas Cermat 6:00 News: Lintasan Berita 6:05 Documentary:...

The second nation-building movement

The second nation-building movement The current state of affairs, which can be described as the greatest national crisis since the end of the Korean War, resulted from a foreign exchange crisis and subsequent management of the nation's finances by the International Monetary Fund.

Asian recovery hinges on japan, IMF believes

Asian recovery hinges on japan, IMF believes WASHINGTON (Dow Jones): Asia's crisis-hit economies should see recovery in the second half of 1999 -- provided Japan executes proposals to stimulate its economy and reinvigorate its banking system, the International Monetary Fund said Wednesday.

BI to continue cutting rates 'as situation allows'

BI to continue cutting rates 'as situation allows' JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin said on Thursday that he would continue to cut interest rates if the inflation rate was falling and the rupiah stabilized.Speaking to journalists after meeting with President B.J.

Experts fault antitrust bill over monitoring flaws

Experts fault antitrust bill over monitoring flaws JAKARTA (JP): A German consultancy group has faulted the government's antimonopoly bill for not doing enough to bar against manipulation of its implementation by vested interests.

Govt upbeat about fund for social safety net program

Govt upbeat about fund for social safety net program JAKARTA (JP): Major donor countries and organizations have agreed in principle to fund the government's social safety net program in the 1999/2000 fiscal year, according to the chairman of the National Development Planning Board (Bappenas).

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Painting Exhibition: Creative Expression of a Conservation Message, WWF Indonesia and Sally Linder, at Cemara 6 Galerry and Cafe, Jl. HOS Cokroaminoto No.9-11, Central Jakarta (Phone: 324505), 10 a.m. to 5 p.m., until Oct. 3.

RI crude prices mixed

RI crude prices mixed TOKYO (Dow Jones): Unofficial prices for Indonesian crude grades for September are mixed from official August levels, according to industry calculations released late Wednesday.Prices of some grades including Sumatra Light Crude and Cinta dwindled, while those of the others...

Labor export firm faces stiff penalty

Labor export firm faces stiff penalty JAKARTA (JP): Labor export company PT Indra Caraka could lose its operational license for inhumane treatment of 350 job seekers who applied for overseas placements, an official said on Thursday.

City should manage all properties: Sutiyoso

City should manage all properties: Sutiyoso JAKARTA (JP): Governor Sutiyoso plans to ask the central government for the authority to manage all government-supervised properties in the capital.Speaking to reporters on Wednesday, Sutiyoso said the request was in line with the reform spirit, which...

Airport authorities foil animal smuggling attempt

Airport authorities foil animal smuggling attempt JAKARTA (JP): Soekarno-Hatta International Airport officials have foiled an attempt to smuggle a collection of reptiles, pythons, monitors and turtles out of the country, an official said on Thursday.Airport quarantine director Lukas A.

Miwon ready to face a global market

Miwon ready to face a global market PT Miwon Indonesia Tbk was incorporated in 1973 as a food manufacturing company, concentrating in fermented food seasonings. In 1995, it was the first company of its kind to be listed on the Jakarta Stock Exchange.

Local cooperatives protest against KDI

Local cooperatives protest against KDI YOGYAKARTA: Representatives of 40 local cooperatives protested against the state-appointed Indonesian Distribution Cooperative (KDI) for selling cooking oil at prices above the current retail prices.

Man shot dead by robber for defending money

Man shot dead by robber for defending money JAKARTA (JP): A 45-year-old man, who daringly attempted to take on two robbers who had just stolen his company's Rp 60 million (US$5,500), lost his life on Thursday after one of the culprits fired three bullets into his chest.