Archive: 11 February 1998
52 articles found
Wed, 11 Feb 1998
Police arrest oil hoarder
Police arrest oil hoarder SEMARANG: Police here have detained a man on charges of hoarding 1,386 drums and 8,335 boxes of lubricants worth hundreds of millions of rupiah."The place was raided after a tip-off by local residents," Semarang police chief Lt. Col. Soenarko told reporters yesterday.
Wed, 11 Feb 1998
Currency peg reports cause rupiah to soar
Currency peg reports cause rupiah to soar JAKARTA (JP): The rupiah surged against the U.S. dollar yesterday on reports that the government might peg the currency to the greenback.Currency dealers said that spot rupiah closed at 7,400/7,600 against the U.S.
Wed, 11 Feb 1998
TV today
TV todayTVRI 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 Education Quiz: Cepat Tepat 5:10 Film: Road to Avonlea 6:00 News: Lintasan Berita 6:05 My Beloved Country 6:15 Village Program 6:30 TVRI...
Wed, 11 Feb 1998
Military denies orchestrating unrest
Military denies orchestrating unrest JAKARTA (JP): The Indonesian Armed Forces (ABRI) opened its annual leadership meeting yesterday deflecting allegations that it was orchestrating unrest for political or tactical gain or to divert attention from the country's economic turmoil.
Wed, 11 Feb 1998
Stronger rupiah boosts other Asian currencies
Stronger rupiah boosts other Asian currencies SINGAPORE (Reuters): Most Asian currencies posted robust gains on Tuesday as mounting speculation that Indonesia was on the verge of adopting a currency board system spurred hasty dollar sales.
Wed, 11 Feb 1998
Companies offer way out of monetary crisis
Companies offer way out of monetary crisisBy C.J. de Koning JAKARTA (JP): Indonesian companies until recently were the engine of Indonesia's economic growth. They produced, they exported and imported. They employed millions of Indonesian workers, who then had an income to feed their families and...
Wed, 11 Feb 1998
Queljoe quits Lippo
Queljoe quits Lippo JAKARTA (Reuters): The American president of Indonesia's Lippo Securities has resigned and the position is currently vacant, a company official said yesterday.Charles L. de Queljoe was due to leave for the United States on Tuesday, said Jos Parengkuan, a Lippo Securities...
Wed, 11 Feb 1998
Pegged rupiah draws mixed reviews
Pegged rupiah draws mixed reviewsBy Roberto Coloma SINGAPORE (AFP): A radical proposal to institute a peg for the Indonesian rupiah drew mixed reviews from dealers and economists yesterday, but market players took no chances and dumped U.S. dollars for regional currencies.
Wed, 11 Feb 1998
Dollar-peg proposal for rupiah draws reactions
Dollar-peg proposal for rupiah draws reactions SINGAPORE (AFP): Most Southeast Asian bourses reacted positively yesterday to proposals for Jakarta to adopt a currency board system pegging the rupiah to the dollar, with Singapore gaining 3.8 percent on the news.
Wed, 11 Feb 1998
Pontianak's mandarin growers feel the big squeeze
Pontianak's mandarin growers feel the big squeezeBy R. Masri Sareb Putra SAMBAS, West Kalimantan (JP): Those unfamiliar with West Kalimantan often assume its famed Pontianak mandarin oranges really do come from the provincial capital.
Wed, 11 Feb 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Feb.10, 1998: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 700 0 0 AHAP Insurance 350 0 0 Alter Abadi 575 25 15,000 Alumindo Light Metal 375 -25 3,481,500 Alumindo...
Wed, 11 Feb 1998
Golkar affiliates told not to name VP candidates
Golkar affiliates told not to name VP candidates JAKARTA (JP): President Soeharto moved yesterday to curb growing speculation over who might be the next vice president by prohibiting organizations affiliated to the ruling Golkar from naming any names.
Wed, 11 Feb 1998
Crude palm oil export ban will continue: Minister
Crude palm oil export ban will continue: Minister JAKARTA (JP): The government has extended its export ban on crude palm oil (CPO) until a yet to be decided time, Minister of Industry and Trade Tunky Ariwibowo has announced.
Wed, 11 Feb 1998
GM keen on stake in Proton
GM keen on stake in Proton KUALA LUMPUR (AFP): U.S.-based auto giant General Motors Corp. is keen to take a stake in Malaysian carmaker Perusahaan Otomobil Nasional Bhd. (Proton), a newspaper reported yesterday.
Wed, 11 Feb 1998
SEAG consortium's report due today
SEAG consortium's report due today JAKARTA (JP): The 19th SEA Games consortium has been asked to submit its accountability report on its management of the Games budget to State Minister for Youth Affairs and Sport Hayono Isman today.
Wed, 11 Feb 1998
Japanese bank proposes debt-servicing fund
Japanese bank proposes debt-servicing fund TOKYO (Agencies): Bank of Tokyo-Mitsubishi Ltd (BTM) said yesterday it was proposing to the Japanese and Indonesian governments that they set up a fund to allow Indonesian firms to exchange the rupiah for the U.S.
Wed, 11 Feb 1998
Singapore hotel occupancy, room rates falling
Singapore hotel occupancy, room rates falling SINGAPORE (Reuters): Singapore hotels are suffering from Southeast Asia's financial crisis and the dense smog which blanketed parts of the region at the end of 1997, the Singapore Tourist Board (STB) said yesterday.
Wed, 11 Feb 1998
Spotlight
SpotlightPhoto A: ChineseJP/arhFOND FAREWELL: Chinese Ambassador to Indonesia Lhou Gang (center) and his wife talk with Minister of Tourism and Telecommunications Joop Ave. The ambassador hosted a farewell party at the new Chinese Embassy building in Kuningan, South Jakarta, Monday.
Wed, 11 Feb 1998
S&P downgrades Matahari
S&P downgrades Matahari SYDNEY (Reuters): Standard and Poor's Corp said yesterday that it downgraded its rating on P.T. Matahari Putra Prima to CC from CCC, with the rating remaining on creditwatch with negative implications.
Wed, 11 Feb 1998
Currency peg plan worth exploring, says IMF official
Currency peg plan worth exploring, says IMF official SINGAPORE (Agencies): A senior official of the International Monetary Fund (IMF) said here yesterday that a proposal to peg the Indonesian rupiah to the U.S. dollar to ease volatility was "worth exploring.
Wed, 11 Feb 1998
Industry groups oppose scrapping of 3-in-1 system
Industry groups oppose scrapping of 3-in-1 system JAKARTA (JP): The city administration has met with opposition following its announcement that car stickers would replace the three-in-one traffic regulation after next month's General Session of the People's Consultative Assembly (MPR).
Wed, 11 Feb 1998
Thailand to donate 5,000 tons of rice
Thailand to donate 5,000 tons of rice JAKARTA (JP): Thai Foreign Minister Surin Pitsuwan said yesterday his government would donate 5,000 tons of rice and one million baht (US$20,000) worth of medicines to Indonesia as a token of solidarity.
Wed, 11 Feb 1998
Strong reactions greet Lee's Asia crisis comment
Strong reactions greet Lee's Asia crisis comment JAKARTA (JP): Former Singapore prime minister Lee Kuan Yew's remark that Asia's financial crisis could worsen if the market was uncomfortable with Indonesia's next vice president was met with strong reactions here yesterday.
Wed, 11 Feb 1998
Tycoons must donate
Tycoons must donateFrom Pikiran RakyatMedia reports on the country's monetary crisis are indeed alarming. Especially now that the crisis has caused the prices of the nine staple daily necessities to soar, with the result that people are queuing to buy staples supplied by the logistics depots at...
Wed, 11 Feb 1998
The yen rises on the wings of the rupiah
The yen rises on the wings of the rupiah LONDON (AFP): The yen rose early yesterday in the light of overnight gains in South East Asian currencies, notably the Indonesian rupiah, and the pound fell after the publication of lower-than-expected inflation data.The dollar fell to 123.27 yen from 124.
Wed, 11 Feb 1998
Central banks to meet in Bali
Central banks to meet in Bali JAKARTA (JP): Central bank governors of the Association of Southeast Asian Nations (ASEAN) will hold an annual meeting in Bali this week.An official of Bank Indonesia said here yesterday that the three-day meeting, which will be held from Friday through Monday would be...
Wed, 11 Feb 1998
Nine Filipinos deported
Nine Filipinos deported MANADO, North Sulawesi: Nine Filipinos have been repatriated by the provincial immigration office here following their arrest for illegally entering northern Maluku's waters.The head of North Sulawesi's justice office, Freddy Gerung, said yesterday the nine Filipinos were...
Wed, 11 Feb 1998
New bank capital requirement set at Rp1t
New bank capital requirement set at Rp1t JAKARTA (JP): Bank Indonesia, the central bank, will raise the minimum paid-up capital requirement for domestic banks to Rp 1 trillion (US$125 million) from Rp 50 billion and Rp 150 billion at present to strengthen the country's banking system.
Wed, 11 Feb 1998
Singgih denies police have right to probe graft
Singgih denies police have right to probe graft JAKARTA (JP): Attorney General Singgih denied yesterday law enforcement agencies had agreed to allow the police to investigate corruption cases."There's no such thing as joint investigation (of corruption by the police and my office)," Singgih told a...
Wed, 11 Feb 1998
Malaysian palm oil stock down, demand up
Malaysian palm oil stock down, demand up KUALA LUMPUR (Reuters): Malaysia could face difficulty in meeting demand for its palm oil after the first quarter of 1998 due to falling production and stock levels, industry sources and traders said yesterday.
Wed, 11 Feb 1998
The fate of rupiah
The fate of rupiah I have been worried ever since the rupiah began to fall, not because I have particular need of dollars, but because the rupiah has lost its credibility as a means of exchange. Now rupiah are just like any another commodities, with a value determined at will by speculators.
Wed, 11 Feb 1998
ITB alumni stage rally, activists denounce violence
ITB alumni stage rally, activists denounce violence JAKARTA (JP): Twenty-five alumni of the Bandung Institute of Technology (ITB) staged a street demonstration here yesterday to demand a change in the national leadership after police barred them from holding a news conference.
Wed, 11 Feb 1998
Sofjan Wanandi questioned at city police HQ
Sofjan Wanandi questioned at city police HQ JAKARTA (JP): Businessman Sofjan Wanandi was questioned for at least eight hours at Jakarta Police Headquarters yesterday in connection with last month's explosion at a Tanah Tinggi apartment in Central Jakarta.City police spokesman Lt. Col. E.
Wed, 11 Feb 1998
RI political uncertainty could affect region
RI political uncertainty could affect region MELBOURNE (Reuters): A leading investment bank said on Tuesday that political uncertainty in Indonesia could trigger fresh financial turmoil in Asia unless it was resolved soon.U.S.
Wed, 11 Feb 1998
Habibie reprimands LIPI staff
Habibie reprimands LIPI staff JAKARTA (JP): State Minister of Research and Technology B.J. Habibie has reprimanded 19 researchers of the National Institute of Sciences who issued a statement last month demanding a new national leader.
Wed, 11 Feb 1998
Wiranto calls for alertness over rumors
Wiranto calls for alertness over rumors BANDUNG (JP): Army Chief of Staff Gen. Wiranto has called on the public to be alert for rumors spread by people seeking to instigate unrest and divide people."If need be, treat those rumors as you would rubbish," he said here Monday.
Wed, 11 Feb 1998
Man tried for smuggling pistol
Man tried for smuggling pistol TANGERANG (JP): A former waiter was indicted at the Tangerang District Court yesterday for attempting to smuggle a pistol into the country from the United States.Prosecutor Syamsudin said Nuri Samsudin, 30, of Taman Bunga housing complex in Cibubur, East Jakarta, was...
Wed, 11 Feb 1998
MUI calls for 'jihad' to protect country
MUI calls for 'jihad' to protect country JAKARTA (JP): The Indonesian Ulemas Council concluded its three-day congress by calling on Moslems to wage a jihad (holy war) alongside the government and the military to protect the country from political and economic pressures.
Wed, 11 Feb 1998
MAS to defer jet delivery
MAS to defer jet delivery KUALA LUMPUR (AFP): Malaysia Airline System Bhd. (MAS) is to defer taking delivery of its new Boeing aircraft due in 1998 and 1999 amid a declining load factor and currency fluctuations, a report said yesterday.Malaysia Airline executive vice-president (group finance) S.
Wed, 11 Feb 1998
Currency peg disadvantageous for RI: Analysts
Currency peg disadvantageous for RI: Analysts JAKARTA (JP): The establishment of a currency board system (CBS), which would peg the rupiah to a foreign currency, would be disadvantageous for Indonesia, analysts have said.
Wed, 11 Feb 1998
Sanyo raises RI prices
Sanyo raises RI prices TOKYO (Reuters): Sanyo Electric Co Ltd said on Tuesday it raised wholesale prices of its products in Indonesia by 50 percent in January in line with rising costs of importing components and materials caused by the weakened Indonesian currency.
Wed, 11 Feb 1998
Pegging the rupiah
Pegging the rupiah The economic crisis facing the nation as a result of volatility and weakness in the rupiah exchange rate demonstrates how fundamental a stable currency is to a healthy and growing economy.
Wed, 11 Feb 1998
Bomb explodes in Tarakan
Bomb explodes in Tarakan SAMARINDA: Bombs dating from World War II exploded yesterday in Tarakan, East Kalimantan, shocking local residents.Tarakan military chief Lt. Col. Soekarno, said that residents were jolted awake by a series of explosions.
Wed, 11 Feb 1998
Latest bomb hoaxes at bank building and bus terminal
Latest bomb hoaxes at bank building and bus terminal JAKARTA (JP): Fresh bomb hoaxes continued to hit the city yesterday, keeping police busy sweeping a number of places where bombs were reportedly planted.City police spokesman Lt. Col. E.
Wed, 11 Feb 1998
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Feb.10, 1998: Buying Selling Rp Rp U.S. dollar 1 6,000.00 9,000.00Austrian shilling 1 452.20 733.70Australian dollar 1 4,050.00 6,147.00Belgian franc 1 159.60 241.00Canadian dollar 1 4,172.
Wed, 11 Feb 1998
Jakarta reforms restoring confidence: IMF
Jakarta reforms restoring confidence: IMF SINGAPORE (Reuters): Indonesia's economic reforms are a move in the right direction and are restoring market confidence, International Monetary Fund (IMF) director Kunio Saito said yesterday.
Wed, 11 Feb 1998
Export companies face L/C problems
Export companies face L/C problems JAKARTA (JP): Export companies said yesterday local banks still required them to pay high security deposits before issuing letters of credit for imports despite central bank guarantee.The chairman of the Indonesian Footwear Association, Anton J.
Wed, 11 Feb 1998
'Total reform' necessary to heal crisis
'Total reform' necessary to heal crisis Indonesia is witnessing growing demands for economic and political reform as the best way to overcome the economic crisis. Political analyst Amien Rais, who is also the chairman of the 28- million-strong Moslem organization Muhammadiyah, proposes a platform...
Wed, 11 Feb 1998
Local comics try to draw a better image
Local comics try to draw a better imageBy Rita A. Widiadana JAKARTA (JP): Local comics, dogged by damning tags as vulgar and unsophisticated, have their work cut out for them in winning over readers.Lack of public appreciation, talented artists, professionalism and innovative ideas are major...
Wed, 11 Feb 1998
Military to hand over photographs of Yorris
Military to hand over photographs of Yorris JAKARTA (JP): City military command says it has incriminating evidence about the alleged gambling activities of Yorris Raweyai, a Golkar representative in the People's Consultative Assembly (MPR).The command spokesman, Lt. Col. DJ.
Wed, 11 Feb 1998
Bomb hoax plotter at large
Bomb hoax plotter at large MEDAN: The police still have no clue as to who left a hoax bomb in a Bank Danamon automatic teller machine booth at Polonia Airport here Monday, police said yesterday."The authorities have no one to suspect yet," spokesman for the local Bukit Barisan regional military...
Wed, 11 Feb 1998
Beware of floods: Official
Beware of floods: Official JAKARTA (JP): A city administration official warned Jakartans yesterday to prepare themselves for possible major floods.Toha Reno, a senior city public order office official, said some flood-prone areas had already been inundated due the frequent rainfall over the past...