Indonesian Political, Business & Finance News

Archive: 19 February 1998

Showing 51-58 of 58 articles

Asia currencies firm but still eye Indonesia

Asia currencies firm but still eye Indonesia SINGAPORE (Reuters): Indonesia's currency board dilemma dominated trade in Asian foreign exchange markets again on Wednesday, but traders appeared to be losing interest as the issue dragged on with no sign of a clear resolution. Most Asian currencies firmed in thin, technically-driven trade as players became increasingly reluctant to commit themselves against a backdrop of uncertainty in Indonesia.

Fund raising for mosques

Fund raising for mosques From Panji Masyarakat I come across fund collectors carrying charity boxes on the roadsides or on buses in Jakarta almost every day. They mostly come from the outskirts of Jakarta, asking for money from bus passengers to be utilized for mosque construction. They always begin Assalamu'alaikum... we, the committee of the mosque establishment...and so on. This opening phrase has become very familiar to me. Moreover, their number increases by the day.

Dialysis patients face cutbacks

Dialysis patients face cutbacks TANGERANG (JP): State-owned Tangerang Hospital has reduced the number of patients receiving dialysis treatment to only nine per day due to the limited availability of both medicine and equipment, a director said yesterday. "I cannot accept any new patients. The existing facilities are only capable of treating nine patients," Syartil Arfan, the hospital's director, said.

RI forex reserves decrease to $17.07b

RI forex reserves decrease to $17.07b JAKARTA (JP): Indonesia's foreign exchange reserves have decreased to US$17.07 billion as of Feb. 16 from $20.39 billion recorded on Jan. 15 and $28.85 billion at the end of June 1997, according to Bank Indonesia. Miranda S. Goeltom, the central bank director responsible for monetary and economic statistics and research, said yesterday the current level of reserves was enough to finance non-oil and non- gas imports for 4.2 months.

Man of 1,000 faces into record book

Man of 1,000 faces into record book SEMARANG: The Indonesian Museum of Records here has entered the name of a 75-year-old man nicknamed "the man of a thousand faces" into its record book because he is able to twist his face into numerous positions. Museum manager Paulus Pangka told Antara yesterday that Masngudin, of Tegalsari Barat village near here, could change his face by moving the muscles in his eyes, mouth, and nose.

Exports remain uncompetitive despite crisis

Exports remain uncompetitive despite crisis JAKARTA (JP): Indonesia's exports have remained uncompetitive overseas despite the sharp drop in the rupiah's value against the U.S. dollar, an executive has said. The chairman of the Association of Garment Suppliers, Poppy Dharsono, blamed yesterday the poor performance of the country's exports on inconsistent government export policies.

Australia concerned over impact of unrest

Australia concerned over impact of unrest CANBERRA (Reuters): Australia's defense chief expressed concern yesterday about Indonesia's ability to control widespread rioting and the potential for social unrest there to undermine regional stability. "I have a concern about Indonesia, their ability to cope and the effect on the stability of the region," armed forces commander Gen. John Baker told reporters.

PLN can legally renegotiate purchase contracts

PLN can legally renegotiate purchase contracts JAKARTA (JP): State electricity company PT Perusahaan Listrik Negara (PLN) is legally allowed to renegotiate its U.S. dollar- based power purchasing contracts due to the current currency crisis, a legal expert has said. "The current situation is beyond PLN's control," said Erman Rajagukguk at a business gathering yesterday. He said renegotiations were needed to prevent one-sided contracts that favor the companies selling power to PLN.