Archive: 23 February 1998
49 articles found
Mon, 23 Feb 1998, 00:00 WIB
Irian, PNG border obscure
Irian, PNG border obscure JAYAPURA, Irian Jaya: Residents of three villages bordering Irian Jaya and Papua New Guinea (PNG) have urged the two countries' governments to define the borderlines for their villages to prevent conflict. Villagers of Skouw Yambe, Skouw Mabo and Skouw Sae of Muara Tami subdistrict in Irian Jaya claim to have inherited land in PNG territory, their representative, Ferdinand Mallo, said Saturday.
Mon, 23 Feb 1998, 00:00 WIB
RI urged to take IMF medicine
RI urged to take IMF medicine LONDON (Agencies): Indonesia came under strong pressure from the Group of Seven (G-7) leading industrial nations over the weekend to carry out reforms stipulated under an IMF economic rescue package and to shelve its fixed peg plan.
Mon, 23 Feb 1998, 00:00 WIB
APEC holds inaugural talks with Europe
APEC holds inaugural talks with Europe PENANG, Malaysia (AFP): The Asia-Pacific Economic Cooperation (APEC) forum held inaugural talks with the European Commission (EC) here Saturday to promote mutual awareness in the area of products standards, officials said. "This is the first time that we have had any contact.
Mon, 23 Feb 1998, 00:00 WIB
Emil has no plan to establish political force
Emil has no plan to establish political force SURABAYA (JP): Despite growing political stature accorded him by thousands who support his bid for the vice presidency, senior economist Emil Salim says he has no intention to build a political force. "I am not supported by money, much less arms.
Mon, 23 Feb 1998, 00:00 WIB
Government cuts generic drug prices
Government cuts generic drug prices JAKARTA (JP): The government has cut generic drug prices by an average 34 percent after widespread complaints over soaring prices during the last few months. The Ministry of Health announced last week that the reduced prices would come into effect as of Feb. 18. The ministry said the government had provided subsidies worth US$116 million to help pharmaceutical firms import raw materials to make drugs.
Mon, 23 Feb 1998, 00:00 WIB
A wise and daring decision
A wise and daring decision Pak Harto (President Soeharto) made a wise and daring decision in instructing the reimbursement of all funds to the depositors in the recently liquidated banks. It was wise because the government had no legal obligation to reimburse depositors of ailing banks.
Mon, 23 Feb 1998, 00:00 WIB
Medicine suppliers told to speed up distribution
Medicine suppliers told to speed up distribution JAKARTA (JP): Governor Sutiyoso has urged medicine suppliers to help speed up the distribution of medicine supplies and avoid hoarding activities. "I hope every supplier helps guarantee the distribution of medicines here. I also want you to provide medicine at reasonable prices for the people," Sutiyoso said at the inauguration of the Federation of Pharmaceutical Entrepreneurs' city chapter's new board members, held at City Hall on Thursday.
Mon, 23 Feb 1998, 00:00 WIB
KL steps up patrols to check immigrant influx
KL steps up patrols to check immigrant influx KUALA LUMPUR (DPA): Malaysia will step up patrols of its coastal waters and alert villagers to act as "eyes and ears" to prevent an expected influx of Indonesians slipping into the country to seek work, news reports said Saturday.
Mon, 23 Feb 1998, 00:00 WIB
Stock trading to remain inconsistent this week
Stock trading to remain inconsistent this week JAKARTA (JP): Stock trading on the Jakarta Stock Exchange (JSX) is expected to remain volatile this week due to uncertainty over the planned currency board system and the tense political situation, securities analysts said. They said most investors, as in the previous week, were confused whether the government would go ahead with its plan to adopt a currency board system to stabilize rupiah's value against the U.S. dollar.
Mon, 23 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.
Mon, 23 Feb 1998, 00:00 WIB
Japan strives to protect its investments in RI
Japan strives to protect its investments in RI TOKYO (AFP): As the crisis in Indonesia deepens, Japan is moving to protect its firms struggling to do business in one of its most important investment targets in Asia. Indonesia, recoiling from a wave of riots and soaring prices sparked by the collapse of the rupiah, has imported many Japanese goods and Japanese banks have bet heavily on the country.
Mon, 23 Feb 1998, 00:00 WIB
Message from the Publisher
Message from the Publisher Approximately a month ago The Jakarta Post implemented several cost-efficiency measures -- including the reduction of the number of pages of the newspaper from 16 to 12 pages -- to eliminate financial losses caused by shrinking advertising revenue and rising newsprint prices. We hoped that economic situation would improve, so that we could avoid having to substantially increase our subscription rate.
Mon, 23 Feb 1998, 00:00 WIB
Confusion over RI's peg plan keeps marts mixed
Confusion over RI's peg plan keeps marts mixed SINGAPORE (AFP): Confusion over Indonesia's proposal to peg its beleaguered rupiah despite stern warnings from industrialized nations will keep Asian market sentiment mixed this week, analysts said. Regional currencies last week strengthened against the U.S. dollar, decoupling themselves from the rupiah and most Asian stock markets took heart from their respective currencies' gains.
Mon, 23 Feb 1998, 00:00 WIB
Singapore acts on maid abuse
Singapore acts on maid abuse SINGAPORE (AFP): Singapore's government is backing a bill in parliament proposing an increase of up to 10 and a half years in jail for employers who abuse their maids, a newspaper reported yesterday. The bill to be debated in parliament next month will send a "very, very strong signal to employers" that they are responsible for their maids' welfare, Labor Minister Lee Boon Yang was quoted as saying in the Sunday Times.
Mon, 23 Feb 1998, 00:00 WIB
Rival automakers stall Ford's comeback bid
Rival automakers stall Ford's comeback bid MANILA (AFP): Ford Motor Co.'s request for incentives to build a 6.18-billion-peso (US$154-million) integrated facility in the country has been stalled by opposition from rival car manufacturers, industry sources said yesterday.
Mon, 23 Feb 1998, 00:00 WIB
Man dies on bus, passengers panic
Man dies on bus, passengers panic JAKARTA (JP): The death of a 77-year-old man on an intercity bus Saturday sent other passengers into a panic, forcing the driver to stop at Cawang tollgate so those on board could get off. The man, Sujono, a resident of Cililitan Besar in East Jakarta, was heading for the city on a Putra Rafflesia bus which plies the Bengkulu-Jakarta-Bandung route.
Mon, 23 Feb 1998, 00:00 WIB
A personal computer for those who still have dollars to burn
A personal computer for those who still have dollars to burn By Zatni Arbi JAKARTA (JP): First, when business has ground down to a snail's pace, what is the most ideal thing that employers can do in addition to keeping their employees on the payroll? Those who can still afford it should, of course, continue to invest in human resources. Lucky employees, who can still hold a job, can spend their time learning new things or reading books to improve their skills. Or taking good courses.
Mon, 23 Feb 1998, 00:00 WIB
Soaring prices hit transportation sector
Soaring prices hit transportation sector JAKARTA (JP): Thousands of public transportation vehicles have stopped operating due to soaring prices of automobile spare parts resulting from the economic crisis. Antara reported from Medan in North Sumatra on Saturday that 40 percent of 12,000 buses and minibuses had stopped operating because owners could not afford to buy replacement parts.
Mon, 23 Feb 1998, 00:00 WIB
BI to provide special loans to poultry farmers
BI to provide special loans to poultry farmers JAKARTA (JP): Bank Indonesia, the central bank, plans to provide special credit to help the country's financially troubled poultry farmers. The Ministry of Agriculture said over the weekend that the special credit facilities would be provided to small and medium poultry farmers whose operations are backed by large poultry companies or cooperatives.
Mon, 23 Feb 1998, 00:00 WIB
RI plywood industries suffer under Asian woes
RI plywood industries suffer under Asian woes By Sylvia Gratia M. Nirang JAKARTA (JP): The monetary turmoil affecting several Asian countries has significantly cut demand for plywood in overseas markets, and might slowly kill Indonesia's plywood industries. Vice chairman of the Association of Indonesian Wood Panel Producers (Apkindo), Abbas Adhar, said the falling demand has forced at least 30 plywood producers out of business.
Mon, 23 Feb 1998, 00:00 WIB
Govt 'must apologize' to people for crisis
Govt 'must apologize' to people for crisis By Asip Agus Hasani YOGYAKARTA (JP): Prominent sociologist Loekman Soetrisno believes that an open apology from the government for the economic and social crisis hitting the country would appease the public's outrage over skyrocketing prices and shortages of basic commodities.
Mon, 23 Feb 1998, 00:00 WIB
ASEAN talks with Japan, S'pore, Taiwan on rejuvenation fund
ASEAN talks with Japan, S'pore, Taiwan on rejuvenation fund KUALA LUMPUR (AFP): The Association of Southeast Asian Nations (ASEAN) is to consider plans for a regional rehabilitation fund which Malaysia has discussed with Japan, Singapore and Taiwan, newspapers reported Saturday.
Mon, 23 Feb 1998, 00:00 WIB
Landslide kills two girls
Landslide kills two girls WONOSOBO, Central Java: A landslide in Larangan Kaliwiro village buried alive two girls, seriously injured their mother and a 70-year-old man last Friday, Antara reported Saturday. Local officials said Saturday that those killed were a nine- year-old elementary school student and her seven-year-old sister. A bigger landslide hit the area last week, killing seven villagers and injuring four. (aan)
Mon, 23 Feb 1998, 00:00 WIB
Sea dollars a floatable idea
Sea dollars a floatable idea During the present monetary crisis, several facts have come to the surface. Hopefully, the crisis has taught hard lessons to all concerned. In the era of globalization, our interdependence has been established beyond any doubt. The heat of the "fire" was felt by all nations irrespective of their location and size. The Malaysian government is advocating "regional trade with regional currencies," instead of the U.S. dollar. The concept is good.
Mon, 23 Feb 1998, 00:00 WIB
TV today
TV today TVRI 2:00 p.m. News: Berita 14 2:45 Cartoon: The Big Valley 3:10 TV Drama: Kabar Gembira 3:35 Belief in God The Almighty 4:00 Regional News 4:30 Health Program: Keputihan pada Wanita 5:00 Indonesian Lessons 5:25 Variety Show 5:30 Documentary: Candi Cangkuang dan Kampung Pulo 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 Student's Program: Dunia Mahasiswa 8:00 News: Lintasan Berita 8:05 Music: Mozaik 9:00 World...
Mon, 23 Feb 1998, 00:00 WIB
Students meet Bogor mayor to express their concern
Students meet Bogor mayor to express their concern BOGOR (JP): A 14-strong delegation of Bogor Institute of Agriculture (IPB) students went to the Bogor mayoralty office Saturday to express their concern about events arising from the monetary crisis. Heri Ardin, the spokesman for representatives of the institute's student senate, said the group met with Mayor Eddy Gunardi to discuss the spread of negative rumors, ranging from strikes to riots.
Mon, 23 Feb 1998, 00:00 WIB
Thousands stranded
Thousands stranded SEMARANG, Central Java: Thousands of passengers were left stranded here yesterday as drivers in the city bus terminal went on strike to protest the soaring prices of auto parts. Authorities mobilized dozens of trucks and buses from government offices bound for Surakarta, Purwokerto, Yogyakarta, Magelang and Purworejo. The vehicles were escorted by armed soldiers.
Mon, 23 Feb 1998, 00:00 WIB
Accountability in the CBS issue
Accountability in the CBS issue By Frans Seda JAKARTA (JP): Currency board systems may share the same acronym with confidence building systems, but the two are nevertheless distinct entities. They do however fall upon each other in the current economic crisis. Contemplating introducing a currency board system to cure current woes and the problems which this entails has once again revealed that the fundamental problem in the Indonesian economy is a lack of confidence. In the four months from Oct.
Mon, 23 Feb 1998, 00:00 WIB
CBS application requires great care
CBS application requires great care I fully agree with Emil Salim, who has said that a currency board system (CBS) must be applied with great care and not rushed hastily into operation. In considering any such system, we must remember the agreement that we have entered into with the International Monetary Fund (IMF), which obliges us to institute economic reform in accordance with the 50 points detailed in a letter of intent signed by President Soeharto.
Mon, 23 Feb 1998, 00:00 WIB
City 'should optimize' bylaw on population
City 'should optimize' bylaw on population JAKARTA (JP): Minister of Home Affairs Yogie S.M. urged the city administration yesterday to strictly enforce the existing city bylaw on population, instead of making a new law to cope with the city's overwhelming population. According to the minister, the capital's population problem is due to the city's failure to effectively implement city bylaw No. 1/1996 on population.
Mon, 23 Feb 1998, 00:00 WIB
Depositors reimbursed
Depositors reimbursed Another potential source of social unrest was defused after the government decided last week to use Rp 3.1 trillion (US$344.4 million) in taxpayers' money to reimburse all depositors of the 16 insolvent banks closed last November. Minister of Finance Mar'ie Muhammad disclosed at a meeting with the House of Representatives on Friday that the reimbursement of the remaining deposits at the closed banks was decided upon by President Soeharto.
Mon, 23 Feb 1998, 00:00 WIB
Investigators baffled over why CAL plane crashed
Investigators baffled over why CAL plane crashed TAIPEI (AFP): Investigators were stymied yesterday over why a China Airlines Airbus crashed into a row of houses six days ago killing 202 people, despite the recovery of initial data from one of the plane's "black boxes." Chief investigator Chang Kuo-cheng said an initial analysis of CAL Flight 676's last moments had been recovered from the cockpit voice recorder but he would not elaborate on any possible findings.
Mon, 23 Feb 1998, 00:00 WIB
Boeing to produce in Russia
Boeing to produce in Russia MOSCOW (AFP): Giant U.S. planemaker Boeing is to press ahead with plans to produce aircraft and engines in Russia, the Seattle-based firm's European sales director Kostya Zolotusky told Interfax over the weekend. However, he warned economic difficulties and political uncertainties meant that the firm would not rush into expanding its projects in Russia.
Mon, 23 Feb 1998, 00:00 WIB
10,490 Karens to be moved
10,490 Karens to be moved BANGKOK (AFP): The Thai army begins moving 10,490 Karen refugees today from camps next to Salween national park in a bid to curb illegal logging, army officers said. The refugees from Myanmar are believed to be heavily involved in the logging trade, which has come under intense public scrutiny in Thailand after a bribery scandal brought the issue into the spotlight last week.
Mon, 23 Feb 1998, 00:00 WIB
U.S. pledges to aid SE Asia
U.S. pledges to aid SE Asia SINGAPORE (AFP): The United States has reiterated its commitment to help Southeast Asia recover from its financial crisis, a statement from a meeting of U.S. ambassadors said. Potential for long-term economic growth in Southeast Asia remained strong, the statement said over the weekend. But the ambassadors urged Southeast Asia to implement policies necessary to achieve the growth, "including those worked out in conjunction with the International Monetary Fund".
Mon, 23 Feb 1998, 00:00 WIB
Ray White Casablanca launched
Ray White Casablanca launched JAKARTA (JP): Realtor Ray White Indonesia inaugurated its 14th office in the country yesterday on Jl. Dr. Satrio in South Jakarta. The company's chief executive officer, Johann Boyke Nurtanio, said his company, a franchise of Ray White Australia, was planning to open 26 more offices in Indonesia this year. He said the property sector would improve soon despite the current economic crisis.
Mon, 23 Feb 1998, 00:00 WIB
Ramped CBS
Ramped CBS Having been a resident of Indonesia for the last 17 years, I would like to offer my suggestions with respect to the proposed Currency Board System (CBS) to establish a fixed exchange rate of Rp 5,000 to the U.S. dollar. It appears that most foreign governments and institutions such as the United States, Australia, Germany, Singapore and the International Monetary Fund etc. have reacted extremely negatively to the proposed CBS.
Mon, 23 Feb 1998, 00:00 WIB
NU says hoarding of goods against Islamic teaching
NU says hoarding of goods against Islamic teaching JAKARTA (JP): Hoarding of essential commodities during an economic crisis is illegal according to Islamic law, a leader of the country's largest Moslem organization said over the weekend. Ilyas Rukhiyat, chairman of the law-making body of Nahdlatul Ulama (NU), was quoted by Antara as saying Saturday that Islam forbade hoarding not only because it wrought havoc on the people, but it could spark riots.
Mon, 23 Feb 1998, 00:00 WIB
Plan to build triple-tier transit system welcomed
Plan to build triple-tier transit system welcomed JAKARTA (JP): City councilors have hailed the plan to push ahead with the long-awaited construction of the triple-tier transit system, linking Bintaro in South Jakarta and Kota in West Jakarta. The councilors told The Jakarta Post Saturday that the project, scheduled to start this week, was badly needed to reduce traffic congestion. "I think the project is very positive.
Mon, 23 Feb 1998, 00:00 WIB
KL's currency plan 'agreed'
KL's currency plan 'agreed' KUALA LUMPUR (Reuters): Malaysian Prime Minister Mahathir Mohamad said over the weekend that some Southeast Asian countries have expressed support for a plan to conduct trade in regional currencies.
Mon, 23 Feb 1998, 00:00 WIB
Smog blankets C. Kalimantan
Smog blankets C. Kalimantan MUARA TEWEH, Central Kalimantan: Thick smog believed to be caused by forest fires has covered the area of Barito Utara regency here for more than a week. Antara reported Saturday that smog in the regency town here, 350 kilometers north of capital Palangka Raya, was so thick that daylight looked like dusk. Although no accidents had been reported, the town's land and river transportation has been disrupted due to limited visibility.
Mon, 23 Feb 1998, 00:00 WIB
Food prices down in several towns: Report
Food prices down in several towns: Report JAKARTA (JP): The government's efforts to lower the prices of basic commodities by selling directly to the public has shown positive results, a media report said yesterday. The government's "market operation" has brought about encouraging results in Semarang and Yogyakarta, two major Javanese cities.
Mon, 23 Feb 1998, 00:00 WIB
Korea's per capita GDP sinks
Korea's per capita GDP sinks SEOUL (AFP): South Korea's per capita GDP is expected to fall to US$6,600 this year from $10,548 in 1996 due to the sharply devalued won and the ongoing economic slowdown, a private think tank said over the weekend. The LG Economic Research Institute said South Korea's economy was expected to dwindle 1.3 percent this year and its gross domestic product would contract to $312.1 billion in 1998.
Mon, 23 Feb 1998, 00:00 WIB
Private companies as debtors
Private companies as debtors From Kompas I am a layman when it comes to economic matters but I feel attracted to the analysis presented by economic expert and observer Kwik Kian Gie, published by Kompas on Jan. 19. In particular, regarding the country's debts, to the tune of US$65 billion, incurred by the private sector. Which private companies are in debt? What is the amount of each company's debt?
Mon, 23 Feb 1998, 00:00 WIB
APEC business travel card to include HK, Chile
APEC business travel card to include HK, Chile PENANG, Malaysia (AFP): The Asia-Pacific Economic Cooperation (APEC) forum agreed yesterday to expand the trial of a regional business travel card from Australia, South Korea and the Philippines to Chile and Hong Kong. "Today was in a sense momentous.
Mon, 23 Feb 1998, 00:00 WIB
Firm told to stop coal mining project in Kutai
Firm told to stop coal mining project in Kutai JAKARTA (JP): Minister of Forestry Djamaludin Suryohadikusumo has ordered PT Taraco Mining and its contractor PT Geoid Reksa Bumi to stop exploring for coal in Kutai National Park, East Kalimantan. Awang Farouq Ishak, chairman of the East Kalimantan office of the Environmental Impact Management Agency who conveyed Djamaludin's message, said Saturday the companies had explored Banumuda River in the heart of the 200,000-hectare park.
Mon, 23 Feb 1998, 00:00 WIB
House denies reports of free foodstuff
House denies reports of free foodstuff JAKARTA (JP): The secretary-general's office of the People's Consultative Assembly (MPR) and the House of Representatives (DPR) yesterday denied reports that legislators would distribute free but limited basic foodstuff today.
Mon, 23 Feb 1998, 00:00 WIB
Crux of the crisis lies beyond economics
Crux of the crisis lies beyond economics By Makmur Keliat SURABAYA (JP): The idea of adopting a currency board system (CBS) has become a contentious issue. The bone of contention can be formulated in the following way. Can the CBS become a panacea to stabilize the value of the rupiah? For the proponents, the system is certainly a promising alternative. It will peg the rupiah at a fixed exchange rate to the chosen anchor currency, say, the U.S. dollar.
Mon, 23 Feb 1998, 00:00 WIB
Limited firms ordered to publish financial reports
Limited firms ordered to publish financial reports JAKARTA (JP): The government has issued a regulation requiring Indonesian businesses to publish their annual financial reports, in a move to improve the country's much-criticized lack of corporate public disclosure Improving transparency is also part of the medicine prescribed by the International Monetary Fund (IMF) to help the economy recover from the current crisis. According to the new regulation, which was issued on Feb.