Indonesian Political, Business & Finance News

Archive: 11 March 1998

57 articles found

Cycling track c'ships planned

Cycling track c'ships planned JAKARTA (JP): The Indonesian Cycling Association will hold the national cycling track championships in Surakarta, Central Java, from May 20 to May 24. The velodrome, located in the Manahan sports complex, was recently inaugurated by President Soeharto.

ITB program for city officials

ITB program for city officials JAKARTA (JP): At least 37 city officials intend to study urban planning in a post-graduate school program offered by the Bandung Institute of Technology (ITB), an official has said.Deputy Governor for Development Affairs TB. M.

Is Western press adopting a blurred focus on RI?

Is Western press adopting a blurred focus on RI?By Mulyo Sunyoto JAKARTA (Antara): The Western press is putting Indonesia under a microscope as the country endures tough economic times.In the past few weeks, major publications, including Newsweek, The Economist and Time, have continuously blended...

State companies told to buy local corn

State companies told to buy local corn JAKARTA (JP): The Ministry of Agriculture asks state agriculture companies to buy local harvested corn to stabilize prices, a senior official has said.Secretary general Sjarifudin Karama said here on Monday that the ministry issued a directive dated Feb.

BI interest rate move may be prelude to CBS

BI interest rate move may be prelude to CBS JAKARTA (JP): Bank Indonesia's decision to peg domestic time deposit interest rates to its short-term promisory note (SBI) rates could be a prelude to an introduction of the controversial currency board system (CBS), an analyst said yesterday.

Journalist teaches Jusuf greeting

Journalist teaches Jusuf greeting JAKARTA (JP): Jusuf Syakir, the chairman of the Moslem-based United Development Party (PPP) faction in the Assembly, received a valuable lesson in Islamic conduct yesterday from a photographer.

After this what next?

After this what next? The 1,000 members of the People's Consultative Assembly (MPR) yesterday reelected President Soeharto for a seventh consecutive term. The appointment marks the culmination of an electoral process which began last May and the pinnacle of the General Session agenda.

Currencies firm, though wary of rupiah

Currencies firm, though wary of rupiah SINGAPORE (Reuters): Asian currencies regained their footing in slow trade yesterday, helped by the U.S. dollar's fall against the yen and relative stability in regional stock markets.

Sorry, no tea, just water at City Hall

Sorry, no tea, just water at City Hall JAKARTA (JP): Staff and visitors to City Hall should no longer expect to be served tea and snacks. They are likely to get plain water, if anything at all.Such office amenities have been removed, along with a host of others as the municipality begins to...

RI still a promising market, says Alcatel

RI still a promising market, says Alcatel JAKARTA (JP): The French giant telecommunication company Alcatel announced yesterday that it would strengthen its presence in Indonesia as it believed the country's telecommunication market remained promising despite the crisis.

Australia may by-pass RI rice barriers

Australia may by-pass RI rice barriers SYDNEY (Reuters): Indonesia's economic collapse and drought have combined to back Australian moves to by-pass longstanding blockages to Australian rice imports.After widespread rice crop failure, Indonesia is this year seen importing up to five million tonnes...

Spotlight

SpotlightPhoto A: OwensBorobudur Inter-ContinentalU.S. MISSION: Michael P. Owens, U.S. deputy chief of mission (left), and Walter F. Mondale, former U.S. vice president (middle), chat with Michel Tourniaire, general manager and vice president of Borobudur Inter-Continental Jakarta.

National soccer team practices shootouts

National soccer team practices shootouts JAKARTA (JP): The national soccer team is currently practicing penalty shootouts in Surabaya, East Java, under the supervision of coach Rusdy Bahalwan.The team has been training for the Tiger Cup here in September since Feb.

'Mbak' Tutut best dresser?

'Mbak' Tutut best dresser? JAKARTA (JP): When first daughter Siti Hardiyanti Rukmana passes by, she spreads around a sweet, noticeable whiff of perfume to her surrounding, a nice change for some journalists who have sweated during another hot day chasing their sources.

WB, ADB delay aid to Indonesia, Japan goes ahead

WB, ADB delay aid to Indonesia, Japan goes ahead TOKYO (Agencies): The World Bank will delay a one-billion- dollar loan and the Asian Development Bank its US$1.5 billion aid to Indonesia until the country makes clear reform efforts, senior bank officials said in Tokyo and Manila yesterday on the...

Philippines ups reserves

Philippines ups reserves MANILA (AFP): Eleven foreign banks have agreed to take part in a 500-million-dollar syndicated loan to the Philippines to help it rebuild its reserves, the central bank said Tuesday.

Police break up activists meeting in North Jakarta

Police break up activists meeting in North Jakarta JAKARTA (JP): Police broke up a meeting of activists at a hotel in Ancol, North Jakarta, yesterday and arrested nine people, including stage actress Ratna Sarumpaet who had apparently coordinated the gathering.

PSSI executives to be questioned

PSSI executives to be questioned JAKARTA (JP): Police have announced that they will question executives of the All-Indonesian Soccer Federation (PSSI) concerning suspected match-fixing practices allegedly arranged by senior referee Djafar Umar.City Police spokesman Lt. Col. E.

Album

AlbumPhoto A: GolkarAntaraCLOSE TIES: Siti Hardiyanti Rukmana shakes hands with her father, President Soeharto, during a meeting between Golkar executives and the President at his residence on Jl. Cendana, Central Jakarta.

Oops, time's up!

Oops, time's up! JAKARTA (JP): The genial and informative manner of the secretary-general of a huge and influential political organization like Golkar should not be surprising.But in his single-minded enthusiasm to answer questions, Golkar secretary-general Ary Mardjono failed even to hear calls...

Yogyakarta's moneylenders rely on personal touch

Yogyakarta's moneylenders rely on personal touchBy Tedy Novan and Angger Jati Wijaya YOGYAKARTA (JP): Toting a small bag and bantering amiably with traders, the woman made her way through the clutter of the Bantul market.

Team to boost exports

Team to boost exports JAKARTA (JP): The minister of industry and trade has formed a special team to boost exports of electronic products in this time of economic difficulty.The minister, through a decree dated Feb.

City's river project lacks funds

City's river project lacks funds JAKARTA (JP): The municipality does not have a budget sufficient to fund the city river normalization program, Abdul Kahfi, deputy governor for administrative affairs, said yesterday.

Guard injured in prison brawl

Guard injured in prison brawl SEMARANG: A guard was injured while trying to break up a brawl among inmates at Kedungpane-Mijen Correctional Facility on Monday, Antara said.Chief of the Central Java Justice Office Soeroso said six inmates had been sent to isolation cells as punishment for their part...

Several MPR members push for negotiations with IMF

Several MPR members push for negotiations with IMF JAKARTA (JP): Several members of the People's Consultative Assembly (MPR) toned down their criticism of the International Monetary Fund (IMF) yesterday, saying that the country must continue to talk with the organization to expedite a full economic...

Men face 12 years for gold robbery

Men face 12 years for gold robbery JAKARTA (JP): A prosecutor asked West Jakarta District Court yesterday to impose a 12-year sentence on two men for their involvement in a gold robbery which resulted in the fatal shooting of a police sergeant.

PLN rotates power outage

PLN rotates power outage MANADO, North Sulawesi: The state electricity company PT PLN has begun to rotate power outage in Manado, Bitun and Minahasa regencies, Antara reported.PLN's North and Central Sulawesi branch office said the water level of Tondono Reservoir, which is used by Tanggari Turbine...

IMF implementation

IMF implementation Having read your article IMF package not in line with the constitution, March 9, 1998, I could not help feeling even more sorry for the millions of Indonesian whose welfare, health and even life are at stake through the games the government thinks it can play with the IMF by...

Legislators to get radio comments

Legislators to get radio comments JAKARTA (JP): Some 500 letters, facsimiles and electronic- mails sent to the General Assembly's radio pool will be presented to the factions as input from the public.Cahya Dwi, the coordinator of the pool, a combined operation for radio coverage of the five-yearly...

New cabinet to be formed soon to hasten end of economic crisis

New cabinet to be formed soon to hasten end of economic crisis JAKARTA (JP): Newly reelected President Soeharto is expected to form his new cabinet almost immediately in order to allow the country to consolidate its resources and apply effective policies to deal with the economic crisis, Assembly...

Man killed by extortionists

Man killed by extortionists TANGERANG, West Java (JP): A man was stabbed to death after refusing to yield to extortionists' demands for money after he was caught making out with his girlfriend in the town's central park.

Utut drops to fourth place

Utut drops to fourth place JAKARTA (JP): Indonesian Grandmaster Utut Adianto slipped to fourth place after recording a draw and defeat in the Grandmasters Championship in Calicut, India, yesterday.Utut drew with GM Dibyendu Barua of India and lost to International Master Abhijit Kunte, also of...

Habibie a good candidate to assist me: Soeharto

Habibie a good candidate to assist me: Soeharto JAKARTA (JP): President Soeharto gave his formal consent yesterday to the nomination of B.J. Habibie as vice president, saying that the 61-year-old German-educated technology czar was a suitable candidate to assist him.

Good level-headed advice

Good level-headed advice Every time our country was hit by crisis in the past, our late (vice president) Adam Malik had an excellent piece of advice for Indonesians: "Our hearts may be boiling over, but our heads must remain cool".

City is sticking to its vehicle sticker plan

City is sticking to its vehicle sticker plan JAKARTA (JP): The city administration is currently drafting regulations to support its plan to introduce the use of stickers to limit the number of vehicles in busy zones during peak hours.

New policy guidelines criticized

New policy guidelines criticized JAKARTA (JP): Two political observers attributed a number of alleged shortcomings in the newly endorsed State Policy Guidelines to a restrictive political system and the languor of the members of the People's Consultative Assembly.Political scientists Mahfud M.D.

Stock prices drop while rupiah firms

Stock prices drop while rupiah firms JAKARTA (JP): Stock prices on the Jakarta Stock Exchange (JSX) dropped 1 percent yesterday on market concern over the ongoing battle between the government and the International Monetary Fund (IMF).

Net finds 105 foster parents

Net finds 105 foster parents BANDA ACEH, Aceh: Pendidikan Acehnet Foundation has enlisted through the Internet 105 Indonesians living overseas to join in the local foster parents program and finance the schooling of poor Aceh children, Antara said.

Government's merger plan questioned

Government's merger plan questioned JAKARTA (JP): The government's plan to merge the ministries of forestry, and agriculture will be counterproductive, a senior analyst has said.Agriculture analyst Bungaran Saragih of the Bogor Agriculture University said that if the two ministries were merged, the...

RI to negotiate with IMF and U.S.

RI to negotiate with IMF and U.S. JAKARTA (JP): Indonesia will send a technical team to the International Monetary Fund (IMF) headquarters in Washington next week to secure the continuation of the Fund's bailout program, a senior official has said.

Fact on Atauro famine

Fact on Atauro famine I welcome Melody Kemp's interest, March 9, in my article on alleged starvation in Atauro, East Timor, though her accusing me of "prejudices" and "bias" is hardly necessary.Ms. Kemp alluded that I was not able to see (what she calls) the "green famine" in Atauro because I was...

IMF to face regional pressure over conflict with Indonesia

IMF to face regional pressure over conflict with Indonesia SYDNEY (Reuters): The International Monetary Fund will come under intense pressure from countries in the region to back down from confrontation with Indonesia if social unrest worsens, political analysts said yesterday.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on March 10, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 800 0 0 AHAP Insurance 400 0 0 Alter Abadi 500 0 59,000 Alumindo Light Metal 325 0 106,500 Alumindo...

Student protests continue on at least 30 campuses

Student protests continue on at least 30 campuses JAKARTA (JP): Waves of student protests calling for reforms and lower prices for basic commodities continued yesterday in at least 30 universities across the nation, with thousands of students and their lecturers jointly staging on-campus...

Account in dollar

Account in dollar I opened a Bank Danamon dollar account several months ago at the bank's Jl. Melawai branch, where I was assured that only 1 percent of my savings would be deducted when I closed it. I would accrue 7 percent a month in taxable interest, meaning that in several months I'd withdraw...

Three netted for housing immigrants

Three netted for housing immigrants MALACCA, Malaysia (AFP): Malaysian police yesterday detained three people, including an Indonesian with permanent resident status, under Malaysia's Internal Security Act (ISA) for allegedly harboring illegal Indonesian immigrants.

Police to question 'D&R' managing editor

Police to question 'D&R' managing editor JAKARTA (JP): National Police spokesman Brig. Gen. Da'i Bachtiar said yesterday that other executives of Detektif dan Romantika (D&R) magazine would be questioned as witnesses in connection with the publication of the weekly's controversial, latest edition.

Soeharto reelected for 7th term

Soeharto reelected for 7th term JAKARTA (JP): The 1,000-seat People's Consultative Assembly reelected President Soeharto to a seventh five-year term yesterday in smooth proceedings lasting less than 30 minutes.

Congratulations pour in for reelected President Soeharto

Congratulations pour in for reelected President Soeharto JAKARTA (JP): Prominent local and global figures yesterday greeted the reelection of President Soeharto for a further five- year term in office.Dili Bishop Carlos Filipe Ximenes Belo extended a warm welcome to Soeharto's reappointment by the...

Soeharto's family welcomes reelection

Soeharto's family welcomes reelection JAKARTA (JP): Members of President Soeharto's family yesterday welcomed his seventh consecutive election and expressed confidence that he would lift the country out of the economic doldrums.

A genie from John Hopkins?

A genie from John Hopkins? Who is Steve Hanke? Who brought him to Indonesia? The questions have been asked many times, but so far no satisfactory answers have been forthcoming.He in no time emerged in the economic and financial world of Indonesia, and quickly wielded a dominant role over local...

Indonesia poses risk to neighbors: WB official

Indonesia poses risk to neighbors: WB official TOKYO (Dow Jones): The prospects for a sustained economic recovery across southeast Asia hinge on conditions in Indonesia, where recent developments have been 'mixed,' a senior World Bank official said yesterday.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on March 10, 1998: Buying Selling Rp Rp U.S dollar 1 10,250.00 13,250.00Austrian shilling 1 680.80 978.50Australian dollar 1 6,060.60 8,143.30Belgian franc 1 240.40 321.80Canadian dollar 1 6,422.

Asia-Pacific stock markets end mixed

Asia-Pacific stock markets end mixed SINGAPORE (AFP): Asia-Pacific stock markets ended mixed yesterday as wary investors treaded with caution over Indonesia's standoff with the IMF amid the reappointment of President Soeharto to a seventh term.

MPs to summon Estrada's wife

MPs to summon Estrada's wife MANILA (AFP): The wife of popular Philippine presidential candidate Joseph Estrada will be summoned by Congress as part of investigations into a million dollar investment scam, a congressman said yesterday.

Telkom staff donate foodstuffs

Telkom staff donate foodstuffs BANDUNG: Employees of PT Telkom, the state telecommunications company, have agreed to put aside part of their monthly salary as a donation to the poor.Telkom president A.A. Nasution said the company had collected Rp 200 million from its 37,000 staff this month.

TV today

TV todayTVRI 7:00 a.m. Morning News 7:30 Talk Show 8:00 Breaking News 8:10 Music 9:00 Live Reports: Presidential Swearing-in Ceremony 11:00 TVRI News 11:15 Music 11:40 Profile: Paket Profil Politisi 12:00 p.m.