Indonesian Political, Business & Finance News

Archive: 27 November 1998

58 articles found

Six foreign companies bid for stake in Pelindo's unit

Six foreign companies bid for stake in Pelindo's unit JAKARTA (JP): Six giant foreign shipping and port operators have submitted offers to buy a 49 percent to 51 percent stake in the newly established PT Jakarta International Container Terminal (JICT), a unit of state-owned port operator PT Pelindo...

House committee agrees on keeping old PR system

House committee agrees on keeping old PR system JAKARTA (JP): A special committee of the House of Representatives agreed on Thursday to retain the old proportional representation (PR) system for next year's general election, but with major improvements to make it more democratic.

Two mobbed to death

Two mobbed to death TANGERANG (JP): An unidentified man was beaten to death by angry mobs after being caught red-handed attempting to steal a motorcycle in Caranang village of Cikupa district here on Wednesday night.Tangerang Police chief detective Capt.

RI 'still attractive' for oil and gas investment

RI 'still attractive' for oil and gas investment JAKARTA (JP): An official at state oil and gas company Pertamina said on Wednesday that the country's oil and gas potential and the incentives offered by the government for their development meant Indonesia was still attractive for investors.

Golkar 'dissidents' look set to announce their stance soon

Golkar 'dissidents' look set to announce their stance soon JAKARTA (JP): One hundred and fifty dissenting members of the ruling Golkar grouping are to meet soon to plan their future strategy.Antara on Thursday quoted member Uncu Natsir, who is coordinating the meeting, as saying that the talks...

Thai baht rises against dollar, Singapore's currency plunges

Thai baht rises against dollar, Singapore's currency plunges SINGAPORE (Dow Jones): The courses taken by Southeast Asian currencies diverged sharply on Thursday. As a steady stream of investment inflows lifted the Thai baht to a fresh 58-week high against the U.S.

Stocks recoup their losses, rupiah stays flat

Stocks recoup their losses, rupiah stays flat JAKARTA (JP): Speculative buying on banking stocks fueled a 1.9 percent gain on the local market on Thursday, but the rupiah held its own to end the day virtually unchanged.After a sharp correction of 7.

UN-sponsored talks resume on East Timor after brief halt

UN-sponsored talks resume on East Timor after brief halt UNITED NATIONS (Agencies): United Nations-sponsored talks on the question of East Timor resumed on Wednesday after being broken off last Friday, a UN spokesman said.

China defense minister in S'pore

China defense minister in S'pore SINGAPORE (AP): Chinese Defense Minister Gen. Chi Haotian met on Thursday with his Singapore counterpart, Tony Tan, Singapore's Defense Ministry said in a statement.Chi, who is in Singapore on a four-day official visit, was to meet with Singapore Prime Minister Goh...

Shoe workers complain of torture

Shoe workers complain of torture JAKARTA (JP): Workers of shoe producer PT Emperor Footwear Indonesia complained on Thursday of being tortured while staging a protest early this week at the factory's site in Bantar Gebang, Bekasi.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Nov.26, 1998: Shares Close Change Trading Volume ------------------------------------------------------ Ades Alfindo 375 0 15,000 AHAP Insurance 400 0 0 Alter Abadi 300 25 930,000 Alumindo Light Metal 300 0 130,500 Alumindo...

Owner Bob Hasan reshuffles 'Gatra'

Owner Bob Hasan reshuffles 'Gatra' JAKARTA (JP): Timber tycoon Mohammad (Bob) Hasan, who controls PT Era Media Informasi, publisher of the Gatra weekly, has sacked the magazine's directors and chief editor for unclear reasons.

PPP introduces new vision, paradigm for 1999 election

PPP introduces new vision, paradigm for 1999 election JAKARTA (JP): Ahead of its extraordinary Congress, slated for Nov. 29 through Dec. 3, the United Development Party (PPP) has been launching several strategic issues as part of its efforts to maintain its existence in the politics of the reform...

S'pore to offer palm oil futures contract

S'pore to offer palm oil futures contract SINGAPORE (Bloomberg): The Singapore Commodity Exchange may start trading a palm oil futures contract, a move that would challenge the dominance of the Kuala Lumpur Commodity Exchange, where crude palm oil is exclusively traded.

Free AIDS tests at UI

Free AIDS tests at UI JAKARTA (JP): University of Indonesia's School of Medicine will offer free HIV/AIDS tests to the public for three months beginning next month in commemoration of World AIDS Day on Dec. 1, the organizers said Wednesday.

PBSI to appeal Sigit's one-year suspension handed down by IBF

PBSI to appeal Sigit's one-year suspension handed down by IBF JAKARTA (JP): The Badminton Association of Indonesia (PBSI) will file an appeal to the International Badminton Federation (IBF) over a one-year suspension it has imposed on doubles specialist Sigit Budiarto.

German exports fall

German exports fall WIESBADEN, Germany (AFP): German exports to ASEAN countries and to Russia slumped in August owing to the economic and financial crises hammering the countries, data published by the Federal Statistics Office on Thursday showed.Germany exported goods worth a total 1.

Hyundai given ample debt relief

Hyundai given ample debt relief SEOUL (Reuters): South Korea's Hyundai Motor has been given substantially more debt relief than it originally asked for in its deal to take over troubled Kia Motors Corp and Asia Motors, it was announced on Thursday.Creditors agreed to write off an additional 219.

ASEAN countries seek drug deterrent

ASEAN countries seek drug deterrent HANOI (AFP): The nine countries of the Association of Southeast Asian Nations (ASEAN) began on Thursday a conference in Hanoi on ways to protect young people from the increasing threat of drugs.

Govt may give up stakes in 7 charity foundations

Govt may give up stakes in 7 charity foundations JAKARTA (JP): The government might sell the stakes controlled by seven foundations chaired by former president Soeharto if they lack profitability, Coordinating Minister for People's Welfare and Poverty Alleviation Haryono Suyono said on Thursday.

ABRI and the people

ABRI and the people Since former president Soeharto was forced to step down in May, the Armed Forces (ABRI) has been forced to stand back and watch while demands for total reform rise to a fever pitch.The demands of the reform movement, articulated so vociferously by university students, is nothing...

U.S. says Indonesia used excessive force

U.S. says Indonesia used excessive force WASHINGTON (Agencies): The United States on Wednesday said Indonesian security forces has used excessive force against unarmed demonstrators and urged the government to bring those responsible to justice quickly.

Number of poor families doubles

Number of poor families doubles JAKARTA (JP): The number of Jakarta families living below the poverty line in October was 57,218, more than double the 23,384 families recorded three months earlier, an official from the city's office of the National Family Planning Board (BKKBN) said on Thursday.

Manhunt for 25 jailbreakers

Manhunt for 25 jailbreakers MEDAN, North Sumatra: Police are still hunting for 25 of the 40 people who escaped from the Labuhan Deli penitentiary two weeks ago, Antara reported on Thursday.Mintardjo, chief of prison affairs at the North Sumatra Justice Office, said 15 escapees had been recaptured...

Compensation sought from country club

Compensation sought from country club JAKARTA (JP): About 25 families in the Ciganjur-Cipedak subdistrict, South Jakarta, have demanded compensation for a 12- hectare plot of their land appropriated by force as part of the Matoa golf course and country club.

Mixed-ethnic Chinese literature

Mixed-ethnic Chinese literature Most of us would think that Chinese-Indonesians know nothing other than trade, and they are even labeled quite often as "economic animals". Very interestingly, Mr. Leo Suryadinata writes in his book "The culture of the Chinese minority in Indonesia" (as shown in...

Log supply expected to drop by 25 percent

Log supply expected to drop by 25 percent JAKARTA (JP): Indonesia's log supply might decline by as much as 25 percent this year due to a drop in timber companies' logging activities, according to the Indonesian Forestry Society (MPI).

Tommy's remarks give students new spirit

Tommy's remarks give students new spirit JAKARTA (JP): A challenge laid down by the youngest son of former president Soeharto calling for people to prove the wrongdoings of his father and family has galvanized the student movement in the capital.

Looting on toll road

Looting on toll road On Sunday, Nov. 22, 1998, as I was returning to Bandung from Jakarta after a business appointment, I had a very bad experience on a toll road and had to give away all personal belongings to looters.It was about 5 p.m.

Maan swings into second place in Matoa Open

Maan swings into second place in Matoa Open JAKARTA (JP): Defending champion Maan Nasim showed that persistent play pays off by moving to second on the scoreboard as other title contenders faltered in the third round of the Rp 100 million (US$13,300) Matoa Nasional Open-Andersen Consulting...

Certificate for CN235-220

Certificate for CN235-220 JAKARTA (JP): State aircraft manufacturer PT Industri Pesawat Terbang Nusantara (IPTN) has received the airworthiness certificate from the Indonesian Military Airworthiness Authority (IMAA) for its CN235-220 military aircraft.

Frenzied situation 'will not discourage investors'

Frenzied situation 'will not discourage investors' JAKARTA (JP): Most Asian and European executives consider the current frenzied situation in Indonesia as part of the transition to the creation of a real democracy and that it will therefore not discourage foreign investors.

Team to gather data on Pinrang riots

Team to gather data on Pinrang riots JAKARTA (JP): Director General for Regional Autonomy and Public Administration Ryaas Rasyid of the Ministry of Home Affairs said on Thursday in Jakarta that he had sent a team to Pinrang, South Sulawesi to gather data regarding riots there.

Senators challange Salim's

Senators challange Salim's MANILA (AP): Philippine lawmakers are attempting to prevent Indonesian Salim Group's First Pacific Co. from taking a controlling stake in the Philippines' biggest telecommunications company.

Consequences of MNC domination

Consequences of MNC dominationBy Beni Sindhunata This is the first of two articles on foreign investment in Indonesia. JAKARTA (JP): In the past six months, widespread allegations of corrupt practices in mega-projects involving multinational companies (MNCs) and billions of U.S.

Broken fridges leave morgue at reduced capacity

Broken fridges leave morgue at reduced capacityBy Ivy Susanti JAKARTA (JP): Normally able to accommodate 28 bodies, the morgue at the Cipto Mangunkusumo General Hospital, the only hospital authorized to do postmortem examinations in the capital, is currently operating at only about one third its...

Why roaming charges?

Why roaming charges? It has been confirmed that Jakarta, Bogor, Tangerang and Bekasi (Jabotabek) are free of cellular phone roaming charges. However I have received several charges for roaming costs within the area, especially Bogor. I live in Bogor and work in Jakarta.

No priority for ABRI

No priority for ABRIFrom Pikiran RakyatAre Armed Forces (ABRI) members special? They are in the legislative body in great numbers without being elected. The number of seats occupied by ABRI is special compared to those given to the people's representatives.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Nov. 26, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 7,275.00 7,475.00 7,275.00 7,550.00Austrian schilling 1 572.20 642.20 - -Australian dollar 1 4,572.50 4,832.50 4,585.00 4,935.00Belgian franc 1 191.

Habibie hits damage, arson of 22 churches

Habibie hits damage, arson of 22 churches JAKARTA (JP): President B.J. Habibie has condemned as "unforgivable" the burning and vandalization of 22 churches and five Protestant and Catholic schools in the capital last Sunday.

Foreign investment to decline by 30 percent

Foreign investment to decline by 30 percent JAKARTA (JP): Foreign investment approvals are likely to decline by about 30 percent this year to US$21.9 billion from $33.8 billion in 1997, according to a senior investment official.

Fired workers turning to LBH for counsel

Fired workers turning to LBH for counsel JAKARTA (JP): At least 10,000 dismissed workers from Greater Jakarta visited the capital's Legal Aid Institute (LBH Jakarta) between January and Nov. 18 to ask for legal advice in disputes with their employers, a lawyer said on Thursday.

Briton, Filipinos injured in air crash

Briton, Filipinos injured in air crash CEBU, Philippines (AFP): A Briton and two Filipinos were injured when a light plane ditched in the sea near this central Philippine city on Thursday, an aviation official said.Jack Clout, British electronics engineering consultant for Pilipino Telephone Corp.

Students clash with Tarutung police

Students clash with Tarutung police JAKARTA (JP): Demonstrations on Thursday were marred by violence as stone pelting between students, other protesters and security officers in Medan, North Sumatra led to warning shots and tear gas being directed at demonstrators.

I need no ultimatum over gambling dens: Sutiyoso

I need no ultimatum over gambling dens: Sutiyoso JAKARTA (JP): Governor Sutiyoso says he deplores the remarks made by city councilors who demanded his resignation unless he closed down all gambling dens in the capital.

WFP blended food arrives

WFP blended food arrives JAKARTA (JP): The United Nations World Food Program (WFP) announced on Thursday the arrival of the first 200 tons of a 8,660-ton consignment of blended food for Indonesia as part of its overall package of food assistance.

Hartati Murdaya, repent!

Hartati Murdaya, repent!From Sinar PagiMrs. Siti Hartati Murdaya's TV appearance on Nov. 16 angered and amused me at the same time (TVRI's Dialog Khusus or Special Dialog program).It is ridiculous that as a member of the Supreme Advisory Council (DPA) she confessed she was not well-versed in...

Surprise twist delays the trial of Anwar

Surprise twist delays the trial of Anwar KUALA LUMPUR (AP): A surprise twist delayed the sex and corruption trial of former Deputy Prime Minister Anwar Ibrahim on Thursday when the chief prosecutor was called away to testify in a related criminal case.

Aceh coral reefs endangered

Aceh coral reefs endangered BANDA ACEH, Aceh: Ninety percent of the coral reefs around the Banyak islands have been damaged because of the use of dynamite and cyanide by fishermen in the area, Antara reported.

Australia ships wheat to RI

Australia ships wheat to RI JAKARTA (JP): Prominent Australian wheat flour producer Manildra Pty Ltd has shipped a significant amount of wheat flour to Indonesia, the Australian Embassy announced on Thursday.

German investors told to stay in Indonesia

German investors told to stay in Indonesia JAKARTA (JP): A former German economics minister has advised his compatriots to persevere in crisis-hit Indonesia to maintain market share for when the economy rebounds.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Photo Exhibition: Fine Art Photography, at Galeri Foto Cahya, Plaza Menteng, 2nd floor, C7-8, Jl. H.O.S. Cokroaminoto 79, Menteng, Central Jakarta, 10 a.m. to 8 p.m., until Dec. 7. * Painting Exhibition: Temu Ragam Lima Pelukis, at Balai Budaya, Jl.

Capital's subway project hinges on financing: Minister

Capital's subway project hinges on financing: Minister JAKARTA (JP): Minister of Communications Giri Suseno Hadihardjono said that implementation of the much delayed Jakarta subway project would depend on whether the government could secure the necessary financing.

General admits Irianese victimized in army operations

General admits Irianese victimized in army operations JAKARTA (JP): The military commander overseeing Maluku and Irian Jaya, Maj. Gen. Amir Sembiring, has acknowledged that many Irianese were victimized during military operations to hunt separatists.

BRI boss probe over graft charges

BRI boss probe over graft charges JAKARTA (JP): President director of government-owned Bank Rakyat Indonesia (BRI) Djoko Santoso Moeljono was questioned by the Attorney General's Office on Thursday as a suspect in a Rp 572.2 billion ($76 million) loan scandal, Antara reported.

RI crew saved from ship mishap

RI crew saved from ship mishap JAKARTA: An Indonesian cargo vessel M.V. Kalimantan Express carrying 3,000 tons of pulses from Myanmar to Calcutta sank in the Bengal Bay on Wednesday, but all its 22 crew members were safe, Antara reported on Thursday.

Soemitro pleads for fair treatment of son Prabowo

Soemitro pleads for fair treatment of son Prabowo JAKARTA (JP): The country's most respected economist Soemitro Djojohadikusumo appealed to the media on Thursday to be fair to his son, Lt. Gen. (ret) Prabowo Subianto, discharged from the military for his role in the abduction of political activists.

Japan eyes business deals during Jiang's visit

Japan eyes business deals during Jiang's visitBy Edward Neilan "Bullet train" excursion may mean more to ties than "spin doctor" politicizing. TOKYO (JP): Chinese President Jiang Zemin's ride on a Shinkansen "bullet train" between Tokyo and Sendai will be the most important event during his visit...