Indonesian Political, Business & Finance News

Archive: 24 February 1998

54 articles found

Govt to continue clove trading arrangement

Govt to continue clove trading arrangement JAKARTA (JP): Despite an official disbandment of the private sector clove trade monopoly, a similar trade arrangement will remain in place, Minister of Cooperatives and Small Enterprises Subiakto Tjakrawerdaya has said.

Fires and man ravage national park's wildlife

Fires and man ravage national park's wildlifeBy Iskandar Zulkarnaen TELUK PANDAN, East Kalimantan (Antara): A mother orangutan and her two young were panicky as they tried desperately to flee an advancing forest fire by crossing a road in the Kutai National Park.

Gresik to export cement

Gresik to export cement JAKARTA (JP): State cement producer PT Semen Gresik will export part of its production to Australia and Columbia due to a continued fall in domestic demand.Gresik spokesman Bambang Subroto said Saturday that company export activities would begin in March, with at least three...

Update electrical wiring in markets: Fire Dept.

Update electrical wiring in markets: Fire Dept. JAKARTA (JP): The City Fire Department has urged PD Pasar Jaya, a city-owned market management firm, and the state electricity company, PLN, to immediately improve the installation of electricity at traditional markets to reduce the risk of fire.

Asian markets end mixed amid rupiah uncertainty

Asian markets end mixed amid rupiah uncertainty HONG KONG (AFP): Asian markets ended trading yesterday with mixed results on a general lack of leads and continued confusion over Jakarta's plans to adopt a currency board system for its beleaguered currency, analysts said.

Hospitals banned from raising fees

Hospitals banned from raising fees DILI, East Timor: Health Minister Sujudi has said public clinics and hospitals across the country are not allowed to raise service fees despite the monetary crisis, according to a health official.

Police shoot, kill alleged drug dealer

Police shoot, kill alleged drug dealer JAKARTA (JP): A 21-year-old suspected drug dealer was shot dead by police after allegedly resisting arrest in Pancoran, South Jakarta, early yesterday.Police said A.R.

Lippo Securities' new boss

Lippo Securities' new boss JAKARTA (JP): Eddy Handoko has been appointed the new president of the Lippo Group's securities arm PT Lippo Securities.The company said yesterday Handoko, currently deputy president of Lippobank, would replace Charles de Queljoe, who has been assigned as a Lippo Group...

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Feb. 23, 1998: Buying Selling Rp Rp U.S. dollar 1 8,500.00 11,000.00Austrian shilling 1 612.80 906.50Australian dollar 1 5,395.30 7,459.40Belgian franc 1 216.40 298.00Canadian dollar 1 5,715.

Bank NISP may seek new investors to merge

Bank NISP may seek new investors to merge JAKARTA (JP): Publicly listed Bank NISP has said it is considering seeking new investors in order to meet the central bank's new minimum paid-up capital requirement.

SE Asian palm oil prices likely to be firmer

SE Asian palm oil prices likely to be firmer KUALA LUMPUR (Reuters): Southeast Asian palm oil prices are likely to be firmer this week with buyers expected to dominate trading on the back of good fundamentals, regional traders said.Local currency fluctuations will also remain a key market factor.

Unhusked rice output fell 3.62 percent last year

Unhusked rice output fell 3.62 percent last year JAKARTA (JP): Indonesia's unhusked rice output dropped 3.62 percent to 49.25 million tons last year, down from 51.1 million tons in 1996, due to prolonged drought and forest fires, the Central Bureau of Statistics announced yesterday.

Police break up protest by women giving flowers

Police break up protest by women giving flowers JAKARTA (JP): Police broke up a small, peaceful, demonstration by housewives complaining about soaring prices at the Hotel Indonesia roundabout on Jl. M.H. Thamrin in Central Jakarta yesterday.

Tight liquidity forces banks to raise interest rates

Tight liquidity forces banks to raise interest rates JAKARTA (JP): Increasingly tight liquidity and anticipation over the government's plan to adopt a currency board system (CBS) have prompted banks to raise interest rates, bank analysts have said.

Resettlement sites disputed

Resettlement sites disputed JAYAPURA, Irian Jaya: Minister of Transmigration Siswono Judohusodo is in Irian Jaya to investigate the controversy over the establishment of two resettlement sites, a local official said here yesterday.

Nico loses OPBF mini flyweight title

Nico loses OPBF mini flyweight title JAKARTA (JP): Indonesian Nico Thomas failed to retain the Orient-Pacific Boxing Federation mini flyweight title after he was outpointed by eighth-contender Uruf Tokimitsu of Japan.The bout was held on Sunday at Kurashi Citi in Osaka.

JSX stock prices rise 2 percent, rupiah down

JSX stock prices rise 2 percent, rupiah down JAKARTA (JP): Stock prices on the Jakarta Stock Exchange (JSX) rose 1.9 percent yesterday on the back of speculative buying of selective stocks, brokers said.

Donors urged to respect rights

Donors urged to respect rights KUALA LUMPUR (AFP): Malaysian Finance Minister Anwar Ibrahim said yesterday that foreign donors helping countries in distress should respect the rights of citizens to determine their own future, Bernama news agency reported.

Govt to intensify fight against forest fires

Govt to intensify fight against forest fires JAKARTA (JP): The government is to intensify its battle against forest and land fires in East Kalimantan through cloud seeding this week, a senior Ministry of Forestry official said yesterday.

Wardiman opens science week

Wardiman opens science week SEMARANG: This year's National Science Week, hosted by Diponegoro University, is suffering the effects of the worsening economic crisis.Only 36 of the 1,400 colleges across the country are taking part in the festival at Diponegoro University that features exhibitions,...

IBF has other sponsors

IBF has other sponsors JAKARTA (JP): International Badminton Federation (IBF) vice chairman Justian Suhandinata said yesterday that the federation had an alternative sponsor if Indonesia-based cigarette company, PT. HM.

Disastrous love affair amid crisis

Disastrous love affair amid crisis MAUMERE, East Nusa Tenggara (JP): A man, who found comfort in the arms of another woman to avoid his wife's complaints about the monetary crisis, suffered the ultimate punishment when his jealous spouse bit his penis.

SEA Games consortium to report to government on stickers

SEA Games consortium to report to government on stickers JAKARTA (JP): State Minister of Youth Affairs and Sports Hayono Isman said yesterday the consortium appointed to raise funds for last year's 19th SEA Games would present an audited report on its fund-raising through sticker sales to the...

Pawnshop loans drop drastically

Pawnshop loans drop drastically JAKARTA (JP): Monthly loans issued by the city's 23 state-run pawnshops dropped last month by 11.76 percent to Rp 30 billion (US$3.16 million), the first such plunge in many years.

Family welfare award for 'Ibu' Tien

Family welfare award for 'Ibu' Tien JAKARTA (JP): President Soeharto received an award yesterday on behalf of his late wife, Tien Soeharto, honoring her outstanding contribution to the Family Welfare Movement.In a simple ceremony at Soeharto's private residence on Jl.

Factions warn legislators against backing Emil Salim

Factions warn legislators against backing Emil Salim JAKARTA (JP): Faction leaders in the People's Consultative Assembly cautioned their members yesterday against voting for senior economist Emil Salim in the vice presidential election next month.

Garuda to use 26 aircraft for haj pilgrimage

Garuda to use 26 aircraft for haj pilgrimage JAKARTA (JP): President Soeharto has approved the deployment of 12 aircraft made before 1982 to transport Indonesian haj pilgrims to Saudi Arabia starting next week, a minister said yesterday.

My husband, an expat

My husband, an expat I was born in Indonesia and raised in Menteng, Central Jakarta, but have been away for over 20 years. I'm writing this in view of the present crisis and the letters that have been written about expatriates.It took me a few years to convince my husband for us to live in Jakarta.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 23, 1998: Shares Close Change Trading Volume --------------------------------------------------------- Ades Alfindo 675 25 32,500 AHAP Insurance 350 0 0 Alter Abadi 575 75 35,000 Alumindo Light Metal 275 -25 1,004,000...

Showtime for endangered turtles on a dark East Java beach

Showtime for endangered turtles on a dark East Java beachBy Tarko Sudiarno BANYUWANGI, East Java (JP): It is a thrilling experience to watch turtles lay their eggs under the cover of darkness at Meru Betiri National Park in Banyuwangi regency, East Java.

Govt undecided on CBS implementation: Mar'ie

Govt undecided on CBS implementation: Mar'ie JAKARTA (JP): The timing on when Indonesia would implement its plans to peg the battered rupiah to a single foreign currency through a currency board system (CBS) depended on President Soeharto, Minister of Finance Mar'ie Muhammad said yesterday.

Analyst says Indonesian outlook bleak

Analyst says Indonesian outlook bleak HONG KONG (Reuters): Indonesia faces a troubled future of social and political uncertainty and part of the blame belongs to the International Monetary Fund, an expert on the country said yesterday.

National ID cards

National ID cardsFrom Suara KaryaMany low-income people have been complaining about the high administrative cost attached to changing regional ID cards into national ID cards. The procedure is further complicated by irregular costs, an additional financial burden.

Where to go in Bandung:

Where to go in Bandung:Exhibitions * Painting Exhibition: International Indonesian Paintings Exhibition 1998 by Jeihan, Popo, Erica Hestu Wahyuni, Krisna Murti, Faizal, Maria Tjui, etc., at Grand Aquila Hotel, lobby, Jl. Dr. Djundjunan No. 116, to Feb. 28.

Asian crisis hits military exercises

Asian crisis hits military exercises SINGAPORE (Reuters): Asian countries have scaled back or postponed planned military exercises with the United States due to the region's financial crisis, a senior U.S. military official said yesterday.

Bakrie gets approval to merge its 4 banks

Bakrie gets approval to merge its 4 banks JAKARTA (JP): The Bakrie Group has received government approval to merge its four banks into a single institution with combined assets of Rp 6 trillion (US$666 million).

Asia's rubber trade seen to be at standstill

Asia's rubber trade seen to be at standstill SINGAPORE (Reuters): Asia's rubber trade is likely to maintain its rangebound state this week, with the political situation in Indonesia and the performance of regional currencies the main factors for business, traders said yesterday.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 Children's Film: The Big Valley 3:10 Teenager's Program: Remaja Indonesia 3:35 Development Program: Hamkamnas 4:30 Teenager's Drama: Nostalgia 5:00 English Lessons 5:30 Documentary Film 6:00 Nusantara, The Beloved Country 6:15 Village...

Asian currencies pressured by dollar

Asian currencies pressured by dollar SINGAPORE (Reuters): A disappointing response from the Group of Seven (G-7) finance ministers to Asia's problems gave the U.S. dollar renewed strength yesterday and put all the Asian regionals under pressure.

KONI to send Yayuk and badminton teams to Asiad

KONI to send Yayuk and badminton teams to Asiad JAKARTA (JP): The National Sports Council will only definitely send world-ranked-23 tennis player Yayuk Basuki and the men's and women's badminton teams to the 13th Asian Games in Bangkok in December.

Lightning strike kills 2, injures 8

Lightning strike kills 2, injures 8 TANGERANG (JP): Two sand miners were killed and eight others injured when lightning struck a hut in Dandang village, Serpong, here Sunday evening.Uding, 30, and Agus, 28, died in the freak accident.

39 governor candidates listed

39 governor candidates listed MAUMERE, East Nusa Tenggara: The province's legislative council has received a record-high 39 names from the public for the next governor, a councilor has said.The candidates will vie for the chair that incumbent governor Herman Musakabe will vacate in July.

Wiranto warns of groups seeking radical reform

Wiranto warns of groups seeking radical reform JAKARTA (JP): Armed Forces Commander Gen. Wiranto charged yesterday there were groups in Indonesian society seeking to engineer radical political and economic reform.

Chinese-Indonesians not at home in China

Chinese-Indonesians not at home in ChinaBy Justin Jin BEIJING (Reuters): Every time Xu Baimin writes a letter home to Indonesia, her sister there slips the postman a small tip when he makes the delivery.

Australia considers food aid package for Indonesia

Australia considers food aid package for Indonesia CANBERRA (Reuters): Australia will hold negotiations with Indonesia on an emergency food aid program aimed at averting riots over food shortages and soaring prices, Australian Foreign Minister Alexander Downer said yesterday.

An expat's view on crisis

An expat's view on crisis Why do we have a worse problem in Indonesia than in the neighboring countries? Allow an amateur economist to present a condensed answer.Three different problems struck us at the same time.

13 warehouse owners detained for hoarding

13 warehouse owners detained for hoarding JAKARTA (JP): At least 13 warehouse owners are in police custody and will be tried for deliberately hoarding staple foods for their own benefit, an officer said yesterday.

Soldiers seize homemade M-16

Soldiers seize homemade M-16 SAMARINDA, East Kalimantan: Soldiers here seized a homemade rifle shaped like the U.S.-made M-16 and arrested a retired police officer and his accomplice, Antara reported yesterday.Lt. Col.

Economy class fares to be fixed till April

Economy class fares to be fixed till April JAKARTA (JP): The government will not raise economy class public transportation fares before April, Minister of Transportation Haryanto Dhanutirto said yesterday.

Baby sitters

Baby sittersFrom Media IndonesiaI would like to warn those considering employing a babysitter to be careful with whom they choose, because not all members of that profession are reliable.Last July, when my baby was two months old, I employed a babysitter from a foundation in the Rawabelong area,...

Habibie for VP: Victory for Soeharto

Habibie for VP: Victory for Soeharto State Minister for Research and Technology B.J. Habibie has emerged as the sole candidate for vice president in the 1998-2003 term, weeks before the People's Consultative Assembly (MPR) is due to meet.

Councilors want plan to cut tax put on hold

Councilors want plan to cut tax put on hold JAKARTA (JP): City councilors urged the municipality yesterday to ask the central government to postpone the planned enactment of Law No. 18/1997 which would reduce the number of regional taxes and levies.

Exhibition speaks for RI arts history

Exhibition speaks for RI arts history JAKARTA (JP): Directorate General of Culture is holding a historical Indonesian fine arts exhibition at the Ministry of Education and Culture's art gallery, on Jl. Merdeka Timur 14, Central Jakarta, beginning yesterday.

Nigerian man may face 10 years in jail for trafficking heroin

Nigerian man may face 10 years in jail for trafficking heroin JAKARTA (JP): A prosecutor yesterday asked the Central Jakarta District Court to sentence a Nigerian man to 10 years in jail and fine him Rp 1 million for selling 80 grams of heroin.