Indonesian Political, Business & Finance News

Archive: 28 October 1998

65 articles found

Hope still flickers for shuttler Sigit in steroid-taking case

Hope still flickers for shuttler Sigit in steroid-taking case JAKARTA (JP): Sports medical expert Dangsina Moeloek said on Tuesday there was still hope that Indonesia's badminton world doubles champion Sigit Budiarto would be cleared of drug taking.

Govt angry at rivals' calls to halt loans to Cambodia

Govt angry at rivals' calls to halt loans to Cambodia PHNOM PENH (Agencies): The government accused opposition leaders on Tuesday of risking the Cambodian people's survival by calling for international lenders to stop providing loans to the kingdom.

Student soccer fans brawl, 31 injured

Student soccer fans brawl, 31 injured YOGYAKARTA (JP): At least 31 people, including an eight-year- old boy, were injured and seven motorcycles were set ablaze when supporters of two local university soccer teams clashed on Monday evening.

RI gets Triple-C rating

RI gets Triple-C rating HONG KONG (Dow Jones): Duff & Phelps Credit Rating Co. said Tuesday it has assigned a Triple-C long-term foreign currency issuer rating to the Republic of Indonesia and a Single-B-minus rating to the country's outstanding US$400.0 million Yankee bond due 2006.

Soeharto's wealth

Soeharto's wealthFrom UmmatAll the mass media has been zealously talking about Pak Harto's wealth abroad. I agree with Pak Amien Rais. What is the point of tracking the wealth of Pak Harto and his family abroad. Just remember what Mrs.

Students report to military police

Students report to military police MEDAN, North Sumatra (JP): About 100 students of the Medan Institute of Technology (ITM) reported to the military police on Tuesday the arrest of four of their colleagues by police the day before.

Good governance is a must

Good governance is a mustBy Aleksius Jemadu BANDUNG (JP): Oct. 28 is always a day for reflection. In 1928, seventy years ago today, Indonesian youths from different ethnic and religious backgrounds gathered in Jakarta and proclaimed that they belonged to the same nation and motherland with one...

Le Meridien gets award

Le Meridien gets award JAKARTA (JP): Le Meridien Nirwana Golf and Spa Resort in Bali has been awarded the highest rank in Meridien Worldwide quality, the hotel announced on Tuesday.Hotel general manager Gerard Hotelier said that his hotel received the highest score among 250 hotels under Meridien...

Hashim quits post at Bank Papan Sejahtera

Hashim quits post at Bank Papan Sejahtera JAKARTA (JP): Shareholders of the publicly-listed Bank Papan Sejahtera (BPS) approved a major reshuffle of senior bank personnel on Tuesday which includes the resignation of Hashim Djojohadikusumo as chief commissioner.

Clerics announce holy war

Clerics announce holy war TANGERANG (JP): At least 100 prominent Moslem figures from the Tangerang regency branch of Islamic group Nahdlatul Ulama (NU) have pledged to mount a holy war against any parties trying to break up the country's Moslem society.

Mobs lynch four 'suspected ninjas' in East Java

Mobs lynch four 'suspected ninjas' in East Java SURABAYA (JP): Villagers in East Java have lynched four men who they suspected were involved in a wave of "ninja" killings, including three who were dragged out of their car, police and sources said on Tuesday.

MPR urged to issue decree on freedom of information

MPR urged to issue decree on freedom of information JAKARTA (JP): A group of communications experts and practitioners have called on the People's Consultative Assembly (MPR) to pass a decree on freedom of information during its special session between Nov. 10 and Nov. 13.

RI cattle import increases

RI cattle import increases MELBOURNE (Bloomberg): A doubling in the value of the Indonesian rupiah over the past three months has revived demand for live cattle from a country that was formerly Australia's best customer, cattle industry officials said on Tuesday.

Building public trust

Building public trust Whether or not it is true that foreign trust in our non-oil exports is returning, the government must without delay and in complete earnest set a continual watch over the quality of our export products, see to it that all terms of payment are complied with and ensure that all...

Govt to honor Freeport's contract

Govt to honor Freeport's contract JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto reaffirmed on Tuesday that the government would honor the mining contract of work (COW) with copper and gold mining company PT Freeport Indonesia.

Solarex project on target

Solarex project on target JAKARTA (JP): Solarex, an American joint venture between Amoco Corp. and Enron Corp, said on Monday that its US$25 million solar project in Indonesia was on schedule despite the prolonged economic crisis.

Universal education will stop disintegration

Universal education will stop disintegrationBy Iwan Pranoto BANDUNG (JP): Many believe that the 1928 Generation, mostly consisting of young educated civilians, had the most important role in the nation's history.

Govt told to be fair in giving loans to transportation firms

Govt told to be fair in giving loans to transportation firms JAKARTA (JP): The government has been urged to be fair in issuing credit to help the city's ailing public transportation operators.La Ode Djeni Hasmar, the head of Wahana Kalpika Cooperatives (KWK), said on Tuesday that it was not fair to...

Tangerang entertainment center vandalized

Tangerang entertainment center vandalized TANGERANG (JP): Hundreds of residents damaged Shing-Shing Soo entertainment center in Jatake village, Jatiuwung district, on Monday night in protest over its reopening after being closed down by the authorities.

ICMI defends Saefuddin over Hindu defamation

ICMI defends Saefuddin over Hindu defamation JAKARTA (JP): The influential Association of Indonesian Moslem Intellectuals (ICMI) came to the defense of its member State Minister of Food and Horticulture A.M.

72,000 RI workers sent home from Malaysia

72,000 RI workers sent home from Malaysia JAKARTA (JP): A total of 72,191 Indonesians in Malaysia have been sent home to their places of origin in various parts of Indonesia, Antara quoted Malaysian authorities in Kuala Lumpur on Monday.

Indonesia's Utut up and down at rapid chess

Indonesia's Utut up and down at rapid chess JAKARTA (JP): Indonesian Grand Master Utut Adianto suffered his second defeat in the US$48,000 Intercontinental Rapid Chess tournament at Cap d'Agde, France, on Tuesday.

U.S. helping Indonesian students studying in America and at home

U.S. helping Indonesian students studying in America and at home JAKARTA (JP): Fewer academic hours and exemptions on work restrictions are among the policies helping more than 12,000 Indonesians studying in the United States, American Ambassador to Indonesia Stapleton Roy said on Tuesday.

Rupiah remains firm, stocks rise slightly

Rupiah remains firm, stocks rise slightly JAKARTA (JP): The rupiah failed to continue its rally against the U.S. dollar on Tuesday, closing at 7,400, similar to its close on Monday, currency dealers said.

Canada aids 'governance reform'

Canada aids 'governance reform' JAKARTA: Chairman of National Development Planning Board (Bappenas) Boediono and Canadian Ambassador Kenneth Sunquist signed on Tuesday two development assistance programs, including one on "governance reform", worth C$5 million (US$3.3 million).

Irian Jaya convicts 'underfed'

Irian Jaya convicts 'underfed' JAYAPURA, Irian Jaya: The head of a detention center here, Mashudi, requested visiting legislators recommend to the government an increase in the food allowance allocated to prisoners.

Royal raises RI provision

Royal raises RI provision EDINBURGH (Dow Jones): Royal Bank of Scotland Group PLC (RBSB) has lifted provisions for Indonesian exposure in the second half of its fiscal year ending Sept. 30, Chief Executive George Mathewson said Tuesday.

Youth Pledge Day

Youth Pledge Day Seventy years ago to the day, a group of young Indonesian nationalists representing a number of youth organizations met in a small, little publicized gathering in what was then Batavia, the capital of the Dutch East Indies -- now the present day Jakarta.

Bank Indonesia's net int'l reserves increase slightly

Bank Indonesia's net int'l reserves increase slightly JAKARTA (JP): Bank Indonesia's net international reserves increased by US$64.9 million to $13.9 billion in the week ending Oct. 23, up from $13.8 billion in the previous week, the central bank said on Tuesday.

Coach, sponsor pleased with Indonesia Open

Coach, sponsor pleased with Indonesia Open JAKARTA (JP): A foreign coach and the sponsor expressed their relief on Tuesday that the Badminton Association of Indonesia (PBSI) was proceeding with the Sanyo Indonesia Open badminton championships which starts on Wednesday.

Britain welcomes Indonesian government's new openness

Britain welcomes Indonesian government's new openness JAKARTA (JP): British Ambassador Robin Christopher has welcomed the political openness introduced by the Indonesian government despite the all-encompassing economic crisis, and called for discourses on democratization and human rights.

Asian emerging markets again a favored portfolio

Asian emerging markets again a favored portfolio SINGAPORE (Dow Jones): Cheap asset valuations along with resurgent currency and equity markets have turned Asia into a favored emerging market punt, SG's global strategist for emerging markets and Latin America said Tuesday.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Thunder Cats 3:05 TV Series: Daktari 4:00 Regional News 4:30 Teen Program: Remaja Indonesia 5:00 Science and Technology 5:30 Education Quiz: Sang Juara 6:00 News: Lintasan Berita 6:05 Management Program: Kiat Usaha 6:15 Sports...

Foreign investors demand business security

Foreign investors demand business security JAKARTA (JP): Foreign interest in investing in the country appears to be returning amid signs of an improvement in the economy, but security and political worries remain the biggest concern in realizing their investment plans, according to local...

Unocal, Mobil find RI oil

Unocal, Mobil find RI oil EL SEGUNDO, California (Dow Jones): Unocal Corp. and Mobil Corp. encountered oil and gas pay at two wells in their West Seno field offshore Indonesia.In a press release Monday, Unocal said the West Seno No.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Oct. 27, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 275 0 0 AHAP Insurance 400 0 0 Alter Abadi 250 0 137,000 Alumindo Light Metal 250 0 0 Alumindo Perkasa...

Tambang Timah to focus on gold exploration, Erry says

Tambang Timah to focus on gold exploration, Erry says JAKARTA (JP): Publicly listed tin mining firm PT Tambang Timah is to refocus its priorities to gold exploration to boost its performance, a company executive said here on Tuesday.

RI sees first trade surplus with Australia in five years

RI sees first trade surplus with Australia in five years JAKARTA (JP): Indonesia's US$632 million trade surplus with Australia in the first eight months of the year is its first since 1993, a senior official at the Ministry of Industry and Trade said on Tuesday.

Anwar urges Mahathir to step down honorably

Anwar urges Mahathir to step down honorably KUALA LUMPUR (Agencies): Detained former deputy premier Anwar Ibrahim urged Prime Minister Mahathir Mohamad on Tuesday to step down honorably after a crackdown on protests triggered riots in the capital.

Hyundai's efforts boost Korean ties

Hyundai's efforts boost Korean ties PANMUNJOM (AFP): The head of South Korea's Hyundai business group led on Tuesday a fresh herd of cattle to the hunger- stricken North, brightening prospects for inter-Korean ties amid an easing of tension.

Sjahril upbeat about rupiah

Sjahril upbeat about rupiah JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin said on Tuesday that the rupiah would continue to strengthen until the end of the year amid signs of improvements in the economy.

Persebaya tipped to win national soccer league

Persebaya tipped to win national soccer league JAKARTA (JP): Fielding nine players who regularly form the backbone of the national team, Persebaya Surabaya is the red-hot favorite to win the soccer league which kicks off on Sunday, its chief rival predicts.

Councilors want PDAM deals renewed

Councilors want PDAM deals renewed JAKARTA (JP): The City Council strongly supports the cooperative agreements on water management between city-owned water company PDAM Jaya and its two foreign partners, but urges the administration to review the deals, its speaker said.

Mahathir to meet Bolkiah on crisis

Mahathir to meet Bolkiah on crisis KUALA LUMPUR (Reuters): Malaysian Prime Minister Mahathir Mohamad leaves for Brunei on Thursday for a two-day visit to discuss Asia's economic and financial crisis with Sultan Hassanal Bolkiah, the Foreign Ministry said.

Megawati's chance very slim

Megawati's chance very slim A recent controversy surrounding the religious status of presidential candidate Megawati Soekarnoputri has turned out to be a kind of Pandora's Box for her. It has brought about not only a host of new problems but also renewed public attention to her previously known...

Indonesian timber ship capsizes off Sarawak

Indonesian timber ship capsizes off Sarawak KUALA LUMPUR (Antara): An Indonesian ship bound for Malaysia with 100 tons of sawn timber sank in the South China Sea on Oct. 17 after it was battered by huge waves.

Limiting officials' wealth

Limiting officials' wealthFrom Sinar PagiOwing to the complexity inherent in practices of corruption, collusion and nepotism (KKN), it seems to be very difficult to eradicate them. It is taboo among thieves to shout "Thief!"Practices of KKN have been rife among officials in the bureaucracy and in...

PLN relying on govt support to ride out crisis

PLN relying on govt support to ride out crisis JAKARTA (JP): State electricity company PT PLN said on Tuesday it was banking on the government's support to ensure it survived the country's worst-ever economic crisis.

Bank DKI boss blamed for $21.5m bad credit

Bank DKI boss blamed for $21.5m bad credit JAKARTA (JP): City councilors have blamed the "authoritarian" management style of Bank DKI president Soeharto for saddling the city-owned institution with bad credit of about Rp 172 billion (US$21.5 million).

Bimantara 'no longer has stake in Arco gas field'

Bimantara 'no longer has stake in Arco gas field' JAKARTA (JP): The Bimantara group, controlled by Bambang Trihatmodjo, a son of former president Soeharto, no longer holds a share in the Kangean gas block in East Java due to dilution of its stake, a state oil and gas company Pertamina official said...

Securing Indonesia's Future: Chubb's New Manufacturing Plant

Securing Indonesia's Future: Chubb's New Manufacturing Plant Amid the insecurities challenging Indonesia, ironically, one company's future is safe.Chubb Indonesia is currently celebrating its 25th birthday by expanding operations with the opening of new state-of-the-art premises at east of Jakarta.

ASEAN TV channel to be launched soon

ASEAN TV channel to be launched soon SINGAPORE (AP): Southeast Asian officials said on Tuesday a satellite television channel representing their countries' unique perspectives will be launched next year, as the beleaguered region seeks a unified voice amid increasing internal discord.

Spotlight

SpotlightPhoto A: SantikaHotel SantikaSAFETY CHECK: Peruvian Ambassador to Indonesia Max de la Fuente (left) receives a warm greeting from the general manager of Hotel Santika Yogyakarta, Ign. Haryadi. A group of VIP guests from several embassies in Jakarta visited Yogyakarta last week to relay...

Language experts decry political doublespeak

Language experts decry political doublespeak JAKARTA (JP): Linguists renewed their resistance on Tuesday against interference by political vested interests in the formulation of Indonesian, charging it obstructed the function of the language as a means of communication.

CIDES clarifies

CIDES clarifies I would like to refer to an article published on Oct. 21, 1998, page 2, CIDES laments revival of sectarian politics, which is seemingly a stance that is the only vision of Center for Information and Development Studies (CIDES) scholars.

Open-sky policy mulled to lure more tourists

Open-sky policy mulled to lure more tourists JAKARTA (JP): The government is currently studying the possibility of introducing a limited open-skies policy which will open up all domestic routes to international carriers, in a bid to attract more foreign tourists.

Inco holds dividend payment

Inco holds dividend payment JAKARTA (JP): Nickel producer PT International Nickel Indonesia, a subsidiary of the Toronto-based Inco Ltd. said Tuesday it has deferred payment of the 1998 interim dividend.

S'pore paper tells KL to shut up

S'pore paper tells KL to shut up SINGAPORE (AP): Singapore's largest government-controlled newspaper told Malaysian politicians on Tuesday to "shut up" and accused them of going on flights of fancy in alleging that Singaporean aircraft had violated Malaysian airspace during the past month.

Roesmanhadi calls for new police mentality and foreign study

Roesmanhadi calls for new police mentality and foreign study JAKARTA (JP): Developing a new mentality and using study opportunities abroad rank among the calls for enhancing professionalism within the police force following its separation from the Armed Forces.

RI seen struggling to lure oil investors

RI seen struggling to lure oil investors JAKARTA (JP): An executive of a major American oil company said on Tuesday the Indonesian government had its work cut out for it in attracting new investors to the country's oil and gas industry amid the monetary crisis.President of Unocal Corp. John F.

Jail time sought in 'sandal' slaying

Jail time sought in 'sandal' slaying JAKARTA (JP): A prosecutor is seeking five years in jail for a market trader who allegedly caused fatal injuries to a hoodlum and injured the latter's friend in a row over a pair of missing sandals.

Saudi faces jail for drug possession

Saudi faces jail for drug possession JAKARTA (JP): A Saudi citizen was indicted at Central Jakarta District Court on Tuesday for possessing 2.09 grams of dried marijuana.Prosecutor Agus Widodo said the defendant, Khalil L.M.

200 housing complex residents yet to receive land certificates

200 housing complex residents yet to receive land certificates BOGOR (JP): At least 200 residents of Reny Jaya housing complex in Pondok Petir village, Sawangan district, have become increasingly anxious due to the developer's failure to give them land certificates on time.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Oct. 27, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 7,350.00 7,450.00 7,350.00 7,500.00Austrian schilling 1 576.10 646.10 - -Australian dollar 1 4,388.30 4,648.30 4,370.00 4,720.00Belgian franc 1 196.

Draft Assembly decrees must not be considered final: Experts

Draft Assembly decrees must not be considered final: Experts JAKARTA (JP): Constitutional law experts said on Tuesday that draft decrees completed for deliberation in the People's Consultative Assembly's (MPR) special session should not be considered final.