Archive: 20 February 1998
64 articles found
Fri, 20 Feb 1998, 00:00 WIB
Most Asia-Pacific stock markets rise
Most Asia-Pacific stock markets rise HONG KONG (AFP): Most Asia-Pacific stock markets rose yesterday as ailing regional currencies strengthened against the U.S. dollar, but profit-taking trimmed their gains. The biggest gainer was Seoul, where foreign buying pushed stocks 5.3 percent higher. A notable exception was the Hong Kong bourse, where share prices dropped 0. 8 percent as profit-taking erased earlier gains on a government budget offering economic stimulants and tax reliefs.
Fri, 20 Feb 1998, 00:00 WIB
Habibie's nomination not a victory for Moslems: Scholar
Habibie's nomination not a victory for Moslems: Scholar JAKARTA (JP): The imminent accession of State Minister of Research and Technology B.J. Habibie to the vice presidency does not represent a victory for Indonesian Moslems in politics, but for the political elite, a political observer says.
Fri, 20 Feb 1998, 00:00 WIB
Food priced in dollars
Food priced in dollars My family and I left for a five-day vacation on the beautiful island of Bali on Jan. 28. We were booked in to the Melia Sol Hotel on Nusa Dua Beach. My choice of hotel was based on two reasons. First, we wanted to be in the Nusa Dua Area and second, this was one of the hotels offering all Indonesian citizens rooms priced in rupiah. Little did I know that I was in for a shock. We checked into the hotel and almost had a heart attack.
Fri, 20 Feb 1998, 00:00 WIB
Daring measures needed?
Daring measures needed? When market sentiments are nervous and highly sensitive to breaking news, any moves with the potential to disrupt tranquility should, in theory, be avoided. Surprisingly, however, the currency market reacted positively, against all expectations, to news that Bank Indonesia Governor Soedradjad was being replaced. The rupiah's value on the spot market rose by 400 points against the U.S. dollar.
Fri, 20 Feb 1998, 00:00 WIB
Trading partners agree to give credit guarantees
Trading partners agree to give credit guarantees JAKARTA (JP): Japan, Australia and the United States have agreed to provide credit guarantees for Indonesian exporters to import raw materials, a senior trade official said yesterday. Djoko Moelyono, the director general of international trade, said similar facilities were still being discussed with the governments of Germany, Singapore and the Netherlands. He said the U.S.
Fri, 20 Feb 1998, 00:00 WIB
Stock up almost 5% as rupiah strengthens
Stock up almost 5% as rupiah strengthens JAKARTA (JP): Stock prices on the Jakarta Stock Exchange (JSX) rose nearly 5 percent yesterday, supported by strong foreign and local buying of blue chip and mid-size stocks, brokers said. They said foreign brokerage houses like Credit Lyonnais and Indosuez-W.I. Carr and state-owned Bahana Securities were on net buying positions for most blue chip stocks.
Fri, 20 Feb 1998, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 19, 1998: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 625 25 31,500 AHAP Insurance 350 0 0 Alter Abadi 500 0 33,500 Alumindo Light Metal 300 0 405,500 Alumindo Perkasa 275 0 0 Aneka Kimia Raya 575 25 1,161,000 Aneka Tambang 1,625 50 9,533,500 Anwar Sierad 225 0 239,500 Apac Centertex Corp.
Fri, 20 Feb 1998, 00:00 WIB
Activists step up bid for Emil's VP candidacy
Activists step up bid for Emil's VP candidacy JAKARTA (JP): Activists from a coalition of non-governmental organizations (NGOs) maintained the momentum yesterday to nominate former cabinet minister Emil Salim for the vice presidency, despite some people's belief his campaign does not have even the slightest chance of success.
Fri, 20 Feb 1998, 00:00 WIB
Kendari hit by third day of rioting
Kendari hit by third day of rioting JAKARTA (JP): Rioting erupted again yesterday in the Southeast Sulawesi capital Kendari, following similar unrest in the city Tuesday and Wednesday. Hundreds of people, enraged by soaring prices, went on the rampage damaging and looting dozens of stores. High school and university students, workers and local residents took part in the frenzy in shopping centers from around 10 a.m. to 1 p.m. forcing troops to fire repeated warning shots.
Fri, 20 Feb 1998, 00:00 WIB
RI judokas switch classes for Asiad
RI judokas switch classes for Asiad JAKARTA (JP): Indonesian judoka champion Kresna Bayu, who won two golds in the 19th SEA Games here last year, is to move from the 86-kilogram division to the 90kg division in preparation for the 13th Asian Games in Bangkok in December, an official said. The secretary-general of Indonesian Judo Association, Aji Koesmantri, said national female judoka titleholder Aprilia Marzuki would move from the 66kg class to the 61kg class for the same purpose.
Fri, 20 Feb 1998, 00:00 WIB
Export of rattan not profitable
Export of rattan not profitable JAKARTA (JP): Few rattan traders have entered overseas markets despite the government's removal of its rattan export ban last month, a minister has said. Minister of Forestry Djamaludin Suryohadikusumo said yesterday that overseas markets for raw and processed rattan were not as promising as several years ago.
Fri, 20 Feb 1998, 00:00 WIB
TV today
TV today TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: Tom and Jerry Kid 3:10 Children's Dance 3:35 Talk Show: Sambung Rasa 4:00 Regional News 4:30 Student's Quiz: Cerdas Cermat 5:10 Documentary Film: Science World 5:30 Music: Paket 27 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 TVRI News 7:00 Evening News 7:35 Development Program: Dinamika 8:05 Music: Kenangan Masa 9:00 World News 9:30 Talk Show: Gelar Wicara 10:30 Late News 10:40...
Fri, 20 Feb 1998, 00:00 WIB
Alleged robber tries to commit suicide
Alleged robber tries to commit suicide JAKARTA (JP): Police said an alleged robber panicked and attempted to commit suicide by drinking liquid insecticide yesterday after a man was killed during a robbery at Pondok Gede Plaza, Bekasi. City police spokesman Lt. Col. E. Aritonang said the 20-year- old suspect, Rohimin, tried to kill himself after police surrounded the complex's Naga super store.
Fri, 20 Feb 1998, 00:00 WIB
Sigit still listed for Thomas Cup team
Sigit still listed for Thomas Cup team JAKARTA (JP): Indonesia's best doubles player Sigit Budiarto will still prepare for the 1998 Thomas Cup championships in Hong Kong in May, the Badminton Association of Indonesia's deputy, Mangombar Ferdinand Siregar, said Wednesday. He said that although Sigit had to rest due to a stomach ulcer, the shuttler would still have a chance to partner with Candra Wijaya in the country's Thomas Cup squad. "They are the best doubles in the world and world champions.
Fri, 20 Feb 1998, 00:00 WIB
Slovak Republic vows to boost cooperation with SE Asia
Slovak Republic vows to boost cooperation with SE Asia JAKARTA (JP): The Slovak Republic is committed to strengthening its cooperation with Southeast Asian countries despite the economic woes that have hit the region over the past few months, says its official. Visiting Slovak Foreign Minister Zdenka Kramplova told journalists here yesterday evening that she is convinced that Indonesia will be able to overcome its economic crisis in the second half of this year.
Fri, 20 Feb 1998, 00:00 WIB
Singapore sets aside $1.2b for Asian loans
Singapore sets aside $1.2b for Asian loans SINGAPORE (Reuters): Singapore banks' provisions for regional exposure in 1997 are larger than expected, but the aggressive move bodes well for the industry, banking analysts and economists said yesterday. Deputy Prime Minister Lee Hsien Loong told parliament the six major banking groups would set aside S$2 billion (US$1.2 billion) for regional provisions.
Fri, 20 Feb 1998, 00:00 WIB
Humpuss Transport profit up
Humpuss Transport profit up JAKARTA (JP): PT Humpuss Intermoda Transportasi, a publicly listed firm under the Humpuss Group, has said its net profit for 1997 could total Rp 26.8 billion (US$3.15 million), 10 percent higher than its target of Rp 24.4 billion. Despite the current economic situation, the company projects its net profit to increase again 20 percent this year. The company attributed its strong performance to its shipping company in Singapore which conducts transactions in U.S.
Fri, 20 Feb 1998, 00:00 WIB
CBS critical for RI survival: Hanke
CBS critical for RI survival: Hanke JAKARTA (JP): President Soeharto's currency board advisor Steve Hanke warned yesterday that Indonesia's economy would collapse within four months if the government did not introduce a fixed exchange rate regime as soon as possible. Sjahril Sabirin, the new governor of Bank Indonesia, however, reasserted yesterday the government was still studying the fixed exchange rate system and that there was no date set for its introduction.
Fri, 20 Feb 1998, 00:00 WIB
Hotel profiteering
Hotel profiteering Wanting a relief from the hectic pace of a Jakarta lifestyle, and having an extended weekend due to Idul Fitri holidays, my expatriate family and I visited the island of Lombok. Having previously "booked" a special "Lebaran Rate" at the Novotel Coralia at the southern area of the island, I looked forward to some solitude that could refresh our family bond. Lombok was pleasant both in its beauty and people.
Fri, 20 Feb 1998, 00:00 WIB
The sun will no longer shine
The sun will no longer shine YOGYAKARTA: Members of a Javanese mystical cult on Mount Merapi who believe the sun will soon stop shining have illegally hoarded kerosene and salt, police said. Members of Garuda Pancasila Mawahyu Buana in Gondoarum village have taken the prophecy that 1998 is the "year of darkness" literally. They believed the "darkness" was so imminent it was necessary to hoard 50 drums of kerosene to make light when the days of darkened doom eventually come.
Fri, 20 Feb 1998, 00:00 WIB
Japan suffers 1st Asian loss
Japan suffers 1st Asian loss TOKYO (AFP): Japan suffered its first trade deficit with Asia in eight years in January while its surplus with the United States grew ever larger, pushing the month's overall surplus up to 381.5 billion yen (US$3 billion), the finance ministry said yesterday. Trade with Asian neighbors registered its first deficit since January 1990 as the region's financial crisis struck home, with exports to South Korea, Thailand and Indonesia hardest hit.
Fri, 20 Feb 1998, 00:00 WIB
Stock hoarders will be tried: Dibyo
Stock hoarders will be tried: Dibyo JAKARTA (JP): National Police chief Gen. Dibyo Widodo yesterday reiterated that, from now on, all suspected stockpilers will be questioned and will face charges if sufficient evidence is available. "The investigation of people who have allegedly hoarded essential food stuffs will be carried out in the way we normally handle common crime", he said.
Fri, 20 Feb 1998, 00:00 WIB
Work on city's triple-tier transit system to start
Work on city's triple-tier transit system to start JAKARTA (JP): Construction on the triple-tier transit system to link Bintaro in South Jakarta and Kota in West Jakarta is scheduled to start next week, Governor Sutiyoso announced yesterday. "We will start the project on Feb. 25 (Wednesday) and employ workers involved in the labor-intensive program," the governor said during a ceremony at City Hall.
Fri, 20 Feb 1998, 00:00 WIB
The Listening Post
The Listening Post "Building English Skills Through Newspaper + Radio" Produced by American Language Center in cooperation with The Jakarta Post and Radio Sonora FM 100.9 Mhz * References, obscure or unknown, can cause you problems. Language is, as everyone today knows, closely meshed in its cultural context. If you want to understand the subtleties of Latin, you should immerse yourself in the study of Roman history, mores, and culture.
Fri, 20 Feb 1998, 00:00 WIB
Belt-tightening measures get councilors' support
Belt-tightening measures get councilors' support JAKARTA (JP): The municipality's tight 1998/1999 draft budget received a nod of approval from city councilors but they urged the administration to be thrifty in all sectors and not waver. When contacted yesterday, the councilors told The Jakarta Post that city officials should be more creative in order to make projects more effective and efficient.
Fri, 20 Feb 1998, 00:00 WIB
ASEAN ready to douse fires
ASEAN ready to douse fires MANILA (Reuter): The Association of South East Asian Nations (ASEAN) is ready to act fast if Indonesia asks for help to fight fires blazing on the island of Kalimantan, Philippine officials said yesterday. "No doubt about that. This speaks of ASEAN brotherhood ... It is a goal of ASEAN to respond to all types of emergencies for the good of everyone in the region," Department of Foreign Affairs spokeswoman Cora Patarata told Reuters.
Fri, 20 Feb 1998, 00:00 WIB
Basic course on Islam in English
Basic course on Islam in English JAKARTA (JP): Sisters, a nonprofit organization dedicated to providing a greater understanding of Islam for the English- speaking community in Jakarta, will be holding a six-week course, A General Introduction to Islam, starting on Feb. 28. Angela Alhamid said yesterday the public lectures would be held each Saturday through April 4 from 9:30 a.m. to noon at the Pusdiklat Depkes building on Jl. Jebat Raya, in South Jakarta.
Fri, 20 Feb 1998, 00:00 WIB
A cut in RI aid could hit Bangkok
A cut in RI aid could hit Bangkok BANGKOK (AFP): The IMF has warned Thailand that its bid to ease its economic woes could be hit by fallout if the world body is forced to suspend Indonesia's rescue package, the finance minister said yesterday. "We have received warning from the IMF (International Monetary Fund) to prepare well and to put in place cushioning measures in case of any adverse effects," Tarrin Nimmanahaeminda told reporters here.
Fri, 20 Feb 1998, 00:00 WIB
He knows the answer
He knows the answer What's wrong with Indonesia? What's wrong with this country? What's wrong with us? Things seem to be getting worse every day. And now it's in the final stage. Nobody knows whether the present crisis will go on and on, or stop any moment. Nobody knows anything about it. But I do know one thing. It's time for us to kneel down, to ask forgiveness from the Creator, God Almighty. Forget our selfishness, put aside our personal matters, and cry to God for help.
Fri, 20 Feb 1998, 00:00 WIB
Shooting association allots Rp 1.b for Asiad training
Shooting association allots Rp 1.b for Asiad training JAKARTA (JP): The Indonesian Shooting and Hunting Association's chairman, Sutiyoso, announced yesterday that the association would provide Rp 1.3 billion (US$140,540) for its athletes long-term training program for the 13th Asian Games in Bangkok in December.
Fri, 20 Feb 1998, 00:00 WIB
Asian currencies shine on hopes of G-7 help
Asian currencies shine on hopes of G-7 help SINGAPORE (Reuters): The fate of Indonesia and its neighbors rests on this weekend's meeting of finance ministers and central bankers from the Group of Seven (G-7) nations, dealers said yesterday. Asian currencies were mostly firmer as dollar positions were squared off on hopes the G-7 would announce a concerted currency intervention to prop up beleaguered Asian units.
Fri, 20 Feb 1998, 00:00 WIB
Take on this disaster
Take on this disaster The government's preoccupation with solutions to the present monetary and economic crises is understandable given the difficulties faced by the country. In fact, it is not only the authorities who are engrossed in the problem, private Indonesian citizens are compelled to daily assessment of the continually changing condition of their economy and the ramifications of this for them and their families' lives.
Fri, 20 Feb 1998, 00:00 WIB
Brazil buys Indonesian crude
Brazil buys Indonesian crude SINGAPORE (Reuters): Brazil has bought cargo of heavy, low sulfur Indonesian Minas crude for the first time, traders said yesterday. "As far as I know, this is the first time that Minas has gone to Brazil," said a trader with a major oil company. Most traders in Asia agreed with this view. Traders said that the 900,000-barrel cargo of Minas, loading in March was sold by equity producer Texaco to Brazilian state- owned oil firm Petrobras.
Fri, 20 Feb 1998, 00:00 WIB
KL radios to lessen foreign songs
KL radios to lessen foreign songs KUALA LUMPUR (AFP): Malaysia's Information Minister Mohamed Ramat ordered local radio stations yesterday to play less foreign songs to help reduce the country's current account deficit, Bernama news agency reported. "We are playing a lot of foreign songs," he reportedly said.
Fri, 20 Feb 1998, 00:00 WIB
Foreigners questionable agenda
Foreigners questionable agenda By Sayidiman Suryohadiprojo JAKARTA (JP): It is difficult for ordinary Indonesian people to understand concern shown among foreign circles over the choice of Indonesia's next vice president, to be elected during the General Session of the People's Consultative Assembly (MPR) in March. The interest began about one month ago, when a large part of the Western media suggested that Indonesia should refrain from electing Dr. B.J. Habibie as the next vice president.
Fri, 20 Feb 1998, 00:00 WIB
MPR urged to defend people's interests
MPR urged to defend people's interests JAKARTA (JP): Religious leaders called yesterday for the People's Consultative Assembly (MPR) to defend the people's interests. They also appealed to people currently bearing the brunt of the economic crisis to refrain from resorting to acts that violated the principles of democracy, the 1945 Constitution and the existing laws.
Fri, 20 Feb 1998, 00:00 WIB
French jazz musketeers join Raharjo for gamelan fusion
French jazz musketeers join Raharjo for gamelan fusion By Nicolas Colombant JAKARTA (JP): The French have a thing about gamelan music. Classical melody-maker Claude Debussy wrote: "It can only be compared to two things: moonlight and untamed water.
Fri, 20 Feb 1998, 00:00 WIB
12 drink their way to death
12 drink their way to death YOGYAKARTA: Cheap homemade alcoholic drinks available at roadside stalls here have claimed 12 lives this month as they gain in popularity among the jobless and blue-collar workers. The problem is posing a headache for the police in this city, which is known as one of the country's intellectual centers. Police said the drinks were sold as jamu, or traditional herbal medicine, under the name Super Lapen, Antara said.
Fri, 20 Feb 1998, 00:00 WIB
Conversion Rates
Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Feb. 19, 1998: Buying Selling Rp Rp U.S dollar 1 7,500.00 10,000.00 Austrian shilling 1 542.20 830.60 Australian dollar 1 4,809.60 6,885.00 Belgian franc 1 191.40 272.90 Canadian dollar 1 5,017.40 7,142.90 Swiss franc 1 4,888.00 6,972.00 Deutschemark 1 3,934.40 5,651.00 Danish krone 1 1,036.10 1,478.50 French franc 1 1,177.00 1,681.20 Poundsterling 1 11,779.20 16,758.60 Hong Kong dollar 1 917.
Fri, 20 Feb 1998, 00:00 WIB
Fish powder mills to be built
Fish powder mills to be built JAKARTA (JP): The Ministry of Agriculture plans to build 80 fish powder mills worth Rp 800 billion (US$88.8 million) to reduce the country's dependence on imports, a senior official has said. Director General of Animal Husbandry Erwin Soetirto said Wednesday the mills would help reduce skyrocketing prices of feed meal in the domestic market. Fish powder is a raw material for feed meal production.
Fri, 20 Feb 1998, 00:00 WIB
Students demand food security, reform
Students demand food security, reform DEPOK, West Java (JP): Around 2,000 University of Indonesia students marched around their campus here yesterday demanding food security, employment and political reform. The students also delivered a scathing attack on the New Order government which they claimed had failed to keep the people's mandate. "The government should, in full awareness and peacefully, resign," the students said in a statement signed by seven leaders.
Fri, 20 Feb 1998, 00:00 WIB
Govt pledges to honors power purchase deals
Govt pledges to honors power purchase deals JAKARTA (JP): The government has pledged that it will honor power purchase contracts between state electricity company PT Perusahaan Listrik Negara (PLN) and independent power producers (IPPs). In making the pledge yesterday, Minister of Mines and Energy I.B. Sudjana said the IPPs should take into account PLN's difficulties in fulfilling the terms of the contracts given the sharp appreciation of the U.S. dollar over the past several months.
Fri, 20 Feb 1998, 00:00 WIB
Knorr upbeat on RI's market
Knorr upbeat on RI's market JAKARTA (JP): American food manufacturer PT Knorr Indonesia remains confident about Indonesia's big consumer market despite the crisis. The company's president, Peter N.M. Smith, said yesterday the market for consumer products remained strong, especially products for middle-class and upper-class Indonesians.
Fri, 20 Feb 1998, 00:00 WIB
RI's migrant workers pay heavy price for gains
RI's migrant workers pay heavy price for gains By Erafzon Saptiyulda AS JAKARTA (Antara): It is unfortunate little attention is paid to opportunities for the export of Indonesian migrant workers as a way to solve the growing unemployment problem. There are 12 million jobless according to FSPSI, the only government-recognized labor association.
Fri, 20 Feb 1998, 00:00 WIB
Irian Jaya 'needs more schools, hospitals'
Irian Jaya 'needs more schools, hospitals' JAKARTA (JP): Irian Jaya badly needs more education and health facilities to help the underdeveloped territory catch up with other provinces, a politician and a church minister said yesterday. Sabam Sirait, a former member of the House of Representatives for the Indonesian Democratic Party (PDI) and Karel Phil Erari, a Protestant minister, agreed that health and education were the most neglected aspects in the development of Irian Jaya.
Fri, 20 Feb 1998, 00:00 WIB
Man falls from train at platform
Man falls from train at platform JAKARTA (JP): A 48-year-old man who tried to board a moving train, died after he fell and hit his head on the edge of the platform at Manggarai Railway Station in South Jakarta yesterday afternoon. The man, Suherman, 48, from Tasikmalaya in West Java, suffered severe head injuries. His body was taken to Cipto Mangunkusumo General Hospital for a postmortem examination.
Fri, 20 Feb 1998, 00:00 WIB
Where to go in Jakarta:
Where to go in Jakarta: Exhibitions * Art Exhibition: Trisani by P. Lanny Adriani, Idran Yusuf, Gunawan Hanjaya, in the Regent Jakarta, Jl. H.R. Rasuna Said, Kuningan, South Jakarta, until Feb. 27. * Painting Exhibition: Pesona Jepang, by David Leon, Elisha, Lie Tjoen Tjai, Rudolf G. Usman, Sandy Leonardo and Tommy Faizal Alim, in the Hall of The Japan Cultural Foundation, Summitmas I, 2nd Floor, Jl. Jend. Sudirman Kav. 61-62 South Jakarta, Monday to Friday at 10 a.m.
Fri, 20 Feb 1998, 00:00 WIB
Steve Hanke is man on mission: U.S. economists
Steve Hanke is man on mission: U.S. economists WASHINGTON (Reuters): Steve Hanke, the Johns Hopkins University professor with a Messianic devotion to fixed exchange rates, is a reputable economist whose advice to Indonesia's President Soeharto could prove disastrous for the world's fourth most populous nation, U.S. economists said.
Fri, 20 Feb 1998, 00:00 WIB
Asian fallout hurts entertainment technology firms
Asian fallout hurts entertainment technology firms By Michael White LOS ANGELES (AP): The Asian financial crisis is crimping U.S. companies that built a thriving business catering to the demand for high-tech entertainment in Thailand, Malaysia, Indonesia and other countries.
Fri, 20 Feb 1998, 00:00 WIB
Govt awards 50 mining contracts
Govt awards 50 mining contracts JAKARTA (JP): Minister of Mines and Energy I.B. Sudjana awarded yesterday 50 Contracts of Work (COWs) to local and foreign investors to develop mineral and coal resources across the country. The COWs are composed of 38 Seventh Generation COWs to develop mineral resources and 12 Third Generation COWs for coal mining.
Fri, 20 Feb 1998, 00:00 WIB
Call for jihad 'may have caused riots'
Call for jihad 'may have caused riots' Riots have broken out in small towns in Java, Sumatra and Sulawesi allegedly due to scarcity and surging prices of staple commodities. Masdar F. Mas'udi, director of the Indonesian Society for Pesantren and Community Development, discusses the possible reasons behind the riots. Question: Why have the recent riots occurred in small towns where the majority of the population are Moslem?
Fri, 20 Feb 1998, 00:00 WIB
MPR and Emil Salim
MPR and Emil Salim From Merdeka I am a graduate of the Bandung Institute of Technology, a member of the board of the Indonesian Engineers Association, a Golkar member know two prominent Golkar members, B.J. Habibie and Emil Salim. I know these individuals from conferences, seminars and articles. I know that Emil Salim has an excellent knowledge of economics and technology, both conceptually and practically speaking.
Fri, 20 Feb 1998, 00:00 WIB
S'pore to back Indonesian LCs as part of rescue plan
S'pore to back Indonesian LCs as part of rescue plan SINGAPORE (Reuters): Singapore said yesterday it would make US$2 billion available if its plan for international guarantees for Indonesian letters of credit is implemented. Deputy Prime Minister Lee Hsien Loong told parliament the money would come from the $5 billion Singapore pledged to Indonesia as part of a $43 billion rescue package put together by the International Monetary Fund (IMF).
Fri, 20 Feb 1998, 00:00 WIB
Mahathir, Bolkiah talk crisis
Mahathir, Bolkiah talk crisis KUDAT, Malaysia (AFP): Prime Minister Mahathir Mohamad said yesterday he discussed the Asian economic crisis and regional cooperation with Brunei's Sultan Hassanal Bolkiah during an overnight visit to the sultanate. "We made assessments about the economic situation and the kind of cooperation between ASEAN countries," he told reporters on his arrival in the eastern state of Sabah, which shares a border with the oil-rich country.
Fri, 20 Feb 1998, 00:00 WIB
Currency board the wrong way forward
Currency board the wrong way forward By Akhmad Mukhtar JAKARTA (JP): The Currency Board System (CBS) is not a new concept in economics. Dangers regarding the implementation of a CBS in Indonesia mean that it is important to first determine if the idea to adopt such a system is being touted for political or sound economic reasons.
Fri, 20 Feb 1998, 00:00 WIB
Battered hotel industry faces gloomy outlook
Battered hotel industry faces gloomy outlook JAKARTA (JP): The battered hotel industry is facing a gloomy outlook as fears of social unrest in the country continue. Rudy Setiawan, an executive of the Hotel Sales Management Association, said here yesterday that occupancy rates of star- rated hotels plunged last month to 40 percent from an average monthly level of 75 percent before the economic crisis hit the country in July.
Fri, 20 Feb 1998, 00:00 WIB
Teenager killed in traffic accident
Teenager killed in traffic accident JAKARTA (JP): A teenager who came to the city in search of work was hit by a bus and killed on Jl. Ir. H. Juanda in Ciputat, South Jakarta, on Wednesday night. The victim, Yuhri, 16, from South Lampung in Sumatra, was treated at IAIN clinic but later died from his injuries. According to a cousin, Rohim, 27, Yuhri was returning from a relative's house on his bicycle at the time of the accident. "I was informed that Yuhri was hit by a bus about 9 p.m.
Fri, 20 Feb 1998, 00:00 WIB
Police, Bapepam join forces to prevent crime
Police, Bapepam join forces to prevent crime JAKARTA (JP): National Police and the Capital Market Supervisory Agency (Bapepam) agreed yesterday to jointly investigate crimes in the local stock markets. A memorandum of understanding was signed by National Police chief Gen. Dibyo Widodo and Bapepam's chairman I Putu Gede Ary Suta, with Minister of Finance Mar'ie Muhammad overseeing the event.
Fri, 20 Feb 1998, 00:00 WIB
Soedradjad admits failure over crisis
Soedradjad admits failure over crisis JAKARTA (JP): Former Bank Indonesia governor J. Soedradjad Djiwandono acknowledged that he failed to contain the monetary crisis and restore confidence in the banking system. Speaking to journalists after attending the ceremony to install the new central bank governor, Sjahril Sabirin, at the state palace yesterday, Soedradjad said he tried his best as the head of the monetary authority to stop the economic crisis from spreading.
Fri, 20 Feb 1998, 00:00 WIB
Bomb hoaxes are 'political ploys'
Bomb hoaxes are 'political ploys' JAKARTA (JP): National Police chief Gen. Dibyo Widodo hinted yesterday that all the bomb threats and rumors of riots were the ploy of a certain group which had its own political agenda. "These activities have tended to be politicized. The group must have certain political interests on their mind," he said.
Fri, 20 Feb 1998, 00:00 WIB
Smog causes health problems in Samarinda
Smog causes health problems in Samarinda JAKARTA (JP): Thick haze from the spreading forest fires in East Kalimantan has forced flights to be delayed and is causing health problems for the locals, a media report said yesterday. The smog blanketed the provincial capital Samarinda and surrounding areas, reducing visibility to only about 500 meters and forcing the authorities to close Temindung airport at 7 a.m. the Antara news agency reported.
Fri, 20 Feb 1998, 00:00 WIB
PSSI denies treating Henk Wullems unfairly
PSSI denies treating Henk Wullems unfairly JAKARTA (JP): The All-Indonesian Soccer Federation (PSSI) has expressed surprise over Henk Wullems' statement that it treated him unfairly by not extending his contract. Nirwan Dermawan Bakrie, the federation's technical director, said Wednesday that the termination was because no agreement could be reached between PSSI and Wullems, the former national soccer team coach, over handling the team. "PSSI was never one-sided in terminating the contract.
Fri, 20 Feb 1998, 00:00 WIB
LDP report urges G-7 nations to work together on rupiah
LDP report urges G-7 nations to work together on rupiah TOKYO (Reuters): The Group of Seven (G-7) nations should promote international cooperation to stabilize Indonesia's rupiah, a delegation of Japan's ruling Liberal Democratic Party (LDP) which visited the country recently proposed in a report yesterday.
Fri, 20 Feb 1998, 00:00 WIB
Authorities order minivan and bus crews not to go on strike
Authorities order minivan and bus crews not to go on strike JAKARTA (JP): The city police, military and municipality have instructed the crews of minivans and city buses not to go on strike demanding ticket price increases or protesting against the skyrocketing prices of spare parts. Jakarta Military Commander Maj. Gen. Sjafrie Sjamsoeddin said Wednesday such strikes would be utilized by certain groups who have different agendas to the drivers' demands.