Indonesian Political, Business & Finance News

Archive: 13 March 1998

59 articles found

Asia tempts visitors with cut price offers

Asia tempts visitors with cut price offersBy Valerie Leroux BERLIN (AFP): Asian countries are engaged in a cut-throat price war to lure as many foreign visitors as they can, bringing dollars and other hard currencies to ease their financial woes.

Two detained for harboring illegals

Two detained for harboring illegals MALACCA, Malaysia (AFP): Malaysian police have detained another two people, including a policeman, under the powerful Internal Security Act for allegedly harboring Indonesian illegal immigrants.

USDA food package for RI

USDA food package for RI WASHINGTON (Reuters): The U.S. Agriculture Department and Indonesian officials were discussing a PL-480 "food for peace" package for sales of U.S. wheat, soybeans and rice, Agriculture Undersecretary Gus Schumacher said Wednesday.

Congratulatory notes and words for Habibie

Congratulatory notes and words for Habibie JAKARTA (JP): Congratulatory notes and words on B.J. Habibie's election as the country's seventh vice president were received yesterday.China's Vice President Rong Yiren sent his good wishes to Habibie and hoped to see the close ties between the two...

BI sets deadline for banks to cut rates

BI sets deadline for banks to cut rates JAKARTA (JP): Bank Indonesia (BI) has set a deadline of April 15 for commercial banks to comply with its newly established ceiling for deposit rates.BI director for commercial bank supervision and development, Mukhlis Rasyid, said in a circular letter...

Moslem youth organizations call for accountable cabinet

Moslem youth organizations call for accountable cabinet JAKARTA (JP): Three Moslem youth organizations issued yesterday a joint declaration calling on the President to establish a morally accountable cabinet which can help the country out of its economic crux.

Taiwan starts to help crisis-hit Southeast Asia

Taiwan starts to help crisis-hit Southeast Asia TAIPEI (Reuters): Wealthy Taiwan pressed ahead with a drive to help cash-strapped Southeast Asian neighbors yesterday and rejected rival China's renewed allegations that its motives were less than altruistic.

Thief confesses, commits suicide

Thief confesses, commits suicide PURWOKERTO, Central Java: A burglar caught red-handed Wednesday who disclosed the name of his accomplice was found dead in his cell yesterday morning.According to Banyumas police chief Lt. Col.

One-stop service for bank mergers to be established

One-stop service for bank mergers to be established JAKARTA (JP): A one stop service center will soon be established to assist banks merge and meet the new minimum capital requirement, a government official said yesterday.

Fix rupiah without delay

Fix rupiah without delay Independent of the IMF-plus, which may include a currency board system, the government should immediately fix the exchange rate of the rupiah at Rp 5,000 to one U.S. dollar, in line with the 1998/1999 state budget.

Triple-tier transit project needs Amdal

Triple-tier transit project needs Amdal JAKARTA (JP): Lecturers and a city official have called on the developer of the triple-tier transit system -- to link Bintaro in South Jakarta to downtown Kota in West Jakarta -- to fast-track the project's Environmental Impact Analysis (Amdal).

PT Tugu Pratama gained net profit of Rp 137b in 1997

PT Tugu Pratama gained net profit of Rp 137b in 1997 JAKARTA (JP): The monetary crisis has given a windfall profit to PT Tugu Pratama Indonesia, an insurance arm of state oil and gas company Pertamina, the company said yesterday.

Students jailed for taking drugs

Students jailed for taking drugs BOGOR (JP): The district court here sentenced two students to one year in prison each yesterday for consuming drugs.Jimmy Yulianto, 21, a student of a private university in Bandung, and his girlfriend Yulian, 20, were found guilty of using morphine, locally known as...

Evolution not revolution

Evolution not revolutionBy Johannes Nugroho JAKARTA (JP): The 1998 General Session of the People's Consultative Assembly (MPR) has satisfied the minimum requirements of Article 2 in the 1945 Constitution, which states that the MPR must sit at least once every five years.

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 * Announcing a shift to cyberspace: after nine years "The Listening Post" moves on.

Visa Card adventure

Visa Card adventure On Sunday, March 8, my husband and I experienced one of the most bizarre telephone conversations with the Visa Approval Service in Jakarta. Following our decision to purchase some furniture from a furniture shop in South Jakarta, my husband presented the shop with his Visa Gold...

Staid Australian college opens up a little

Staid Australian college opens up a littleBy Dewi Anggraeni JAKARTA (JP): Mention "Melbourne University Private" to some alumni of the University of Melbourne and you will see outrage; varying degrees, admittedly, but definite outrage.

Wiranto warns students not to leave campuses

Wiranto warns students not to leave campuses JAKARTA (JP): The Armed Forces (ABRI) promised yesterday to continue respecting student demonstrations, but warned that the military would not remain idle if the protests turned violent.ABRI Commander Gen.

Alcatel supplies Telkom

Alcatel supplies Telkom BANDUNG, West Java (JP): France's Alcatel Telecom will keep supplying equipment to the projects of state-owned PT Telkom despite the sharp depreciation of the rupiah against the U.S. dollar, Telkom's vice president D. Amarudien said yesterday.

HK urges world action on Jakarta's crisis

HK urges world action on Jakarta's crisis PARIS (Reuters): Hong Kong chief executive Tung Chee-hwa said on Wednesday Indonesia's financial crisis could have a ripple effect felt around the world and said the international community must resolve the turmoil.

Farm sector should get more attention: Analyst

Farm sector should get more attention: Analyst JAKARTA (JP): The new cabinet should pay more attention to the development of the agricultural sector than the last one did to reduce the country's dependence on imported commodities, according to a noted agricultural analyst.

Rubber futures prices ease

Rubber futures prices ease SINGAPORE (AFP): Singapore rubber futures prices eased yesterday on higher volumes, dealers said.Turnover for the three contracts traded on the Singapore Commodity Exchange rose to 8,700 tonnes, from 2,755 tonnes the day before.

Asian golf industry hit hard by regional crisis

Asian golf industry hit hard by regional crisis SINGAPORE (AFP): An Asian golf trade fair opened here yesterday amid gloom in the industry after the region's economic slowdown put course construction projects on hold, affecting a wide range of related businesses.

Habibie hands ICMI control to Achmad

Habibie hands ICMI control to Achmad JAKARTA (JP): New Vice President B.J. Habibie handed over the executive chairmanship of the Association of Indonesian Moslem Intellectuals (ICMI) yesterday to his deputy, Achmad Tirtosudiro.

City takes a step closer to enacting its green approach

City takes a step closer to enacting its green approach JAKARTA (JP): The long-awaited bill on establishing the city's Regional Environmental Impact Management Agency (Bapedalda) was passed by the city council into bylaw yesterday.

Indonesia doubts paralyze Asian currencies

Indonesia doubts paralyze Asian currencies SINGAPORE (Reuters): Asian currencies were stuck in well-worn territory yesterday as Indonesia remained in the hot seat and traders looked desperately for clues about the fate of the rupiah.

Cabinet lineup is the talk of the town

Cabinet lineup is the talk of the town JAKARTA (JP): Names disappeared as quickly as they came yesterday as politicians, scholars, journalists and diplomats exchanged gossip about the lineup of the new cabinet.

Consumers foundation cautious in Games sticker probe

Consumers foundation cautious in Games sticker probe JAKARTA (JP): The Indonesian Consumers Foundation's vice chairman, Agus Pambagio, said yesterday that the foundation was being very careful in its investigation of alleged mismanagement of the 19th SEA Games fund-raising revenue.

Once again, openness

Once again, openness As we watched some of our fellow developing countries successfully establish sound democratic systems, any signs of greater political openness at home have been welcomed with open arms.

Asia-Pacific share prices flounder on RI uncertainty

Asia-Pacific share prices flounder on RI uncertainty HONG KONG (AFP): Most Asian share prices floundered yesterday on a lack of incentives and persistent uncertainty over Indonesia's economic policy following the election of President Soeharto to a seventh five-year term, analysts said.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 Cartoon: Tom and Jerry Kid 3:10 Children's Dance: Aneka Tari Daerah 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: Lagu Pop Daerah 6:00 News: Lintasan...

Impersonator of bomb squad officer sought

Impersonator of bomb squad officer sought JAKARTA (JP): Police are searching for a man who impersonated an officer from the bomb squad and asked for money from the management of an office building in South Jakarta.City police spokesman Lt. Col. E.

Yeltsin's RI visit postponed

Yeltsin's RI visit postponed MOSCOW (AFP): The Kremlin yesterday confirmed that Russian President Boris Yeltsin's visit to Indonesia, planned for mid- April, had been postponed until later in 1998 or 1999.

Students refuse to stop protests

Students refuse to stop protests JAKARTA (JP): Students refused to ease up their campaign of on-campus protests yesterday as universities in four major cities witnessed demonstrations where people loudly criticized the government and demanded that prices of basic commodities be reduced.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Art Exhibition: The Winning Entries of The ASEAN Essay, Photo, and Poster Competitions at 10 a.m. to 4 p.m. (except Saturday and Sunday), the ASEAN Secretariat, Jl. Sisingamangaraja 70A, Central Jakarta, until April 30.

Price hikes a kick in butt for cigarette smokers

Price hikes a kick in butt for cigarette smokers JAKARTA (JP): The increase in cigarette prices by up to 120 percent this week might significantly reduce cigarette producers' sales this year, analysts said yesterday.

IMF team due here for fresh talks

IMF team due here for fresh talks JAKARTA (JP): The government will not send a team to Washington next week but will instead hold talks with International Monetary Fund (IMF) officials due here soon to review the implementation of reforms, Indonesian and IMF sources said yesterday.

Soccer match-fixing probe to go on

Soccer match-fixing probe to go on JAKARTA (JP): Police rejected yesterday reports that they would stop investigating an alleged soccer match-fixing and bribery scam because it involved too many parties."That (allegation) is untrue.

Australia's RBA urges fast aid for Indonesia

Australia's RBA urges fast aid for Indonesia SYDNEY (Reuters): The Reserve Bank of Australia said yesterday the Indonesian situation was now so desperate that immediate pressure for structural reform had to be set aside for emergency measures.

Orangutan victim still recovering

Orangutan victim still recovering SAMARINDA, East Kalimantan: Supaini, 42, was still recuperating in hospital yesterday after he sustained injuries last week fighting off a 100-kilogram orangutan.The clash occurred as the farmer was putting out the forest fire which had come dangerously close to...

High-minded rhetoric on IMF unhelpful

High-minded rhetoric on IMF unhelpful Political scientist J. Soedjati Djiwandono wrestles with the emerging issues of nationalism and liberalism amid reports of a delay in loan installments from the International Monetary Fund (IMF).

Stock prices up 1.2% on renewed optimism

Stock prices up 1.2% on renewed optimism JAKARTA (JP): Stock prices on the Jakarta Stock Exchange (JSX) rose 1.2 percent yesterday in response to the election of Soeharto and B.J. Habibie as president and vice president for the next five years, stockbrokers said.

Citizens foil taxi robbery

Citizens foil taxi robbery JAKARTA (JP): Residents foiled the attempted robbery of a taxi driver early Wednesday on Jl. Mandar Bintaro, in Tangerang, and caught the two suspects, eyewitnesses and police said yesterday.

PPP backs ABRI governor

PPP backs ABRI governor Samarinda, East Kalimantan: The provincial branch of the United Development Party (PPP) has announced it will only support an active-duty Armed Forces (ABRI) gubernatorial candidate.

Business leaders call for reliable cabinet

Business leaders call for reliable cabinet JAKARTA (JP): Business associations called for a solid and capable new cabinet to strengthen and help restructure the country's crisis-hit industries.Executives of the Indonesian Footwear Association (Aprisindo), the Indonesian Textile Association (API)...

S&P cuts Indonesia's credit ratings

S&P cuts Indonesia's credit ratings NEW YORK (Reuters): Standard & Poor's cut Indonesia's credit ratings Wednesday as Jakarta's uneven progress at implementing economic reforms deepened its financial crisis and led to the suspension of official international support.The U.S.

Why equate Karlina with a thief?

Why equate Karlina with a thief?From NeracaMrs. Karlina Leksono has been found guilty for protesting about milk prices on Jl. Thamrin.The court session took 12 hours!We know that Karlina had no agenda to her protest besides inviting other individuals to join her and her friends in expressing...

First Asian professor for Harvard university

First Asian professor for Harvard university NEW YORK (ANTARA): Indonesian professor Ali Shihab has been invited to become the first Asian intellectual to teach Islamic philosophy at the prestigious Harvard University in Boston, Massachusetts.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on March 12 , 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 800 0 0 AHAP Insurance 400 0 0 Alter Abadi 525 25 33,000 Alumindo Light Metal 325 0 407,500 Alumindo...

Currency stability is top priority: Soeharto

Currency stability is top priority: Soeharto JAKARTA (JP): Restoring currency stability will be the new government's most immediate priority, President Soeharto said last night."We're not asking for much.

Standing tall

Standing tall As an observer from within the country, it appears to me that Indonesia is now in its third major crisis. The first was the removal of Dutch colonialism, which resulted in independence, the second was the removal of the communist threat in the mid-1960s, which resulted in the...

Flood-hit areas attract governor's attention

Flood-hit areas attract governor's attention JAKARTA (JP): Governor Sutiyoso inspected yesterday residential areas in East Jakarta which were inundated by floodwaters early this week.The first area the governor visited was Kramatjati district.

Muchtar Pakpahan admits involvement in street rally

Muchtar Pakpahan admits involvement in street rally JAKARTA (JP): From his hospital room, labor leader Muchtar Pakpahan has admitted that he distributed a letter urging nationwide protests during the just concluded General Session of the People's Consultative Assembly.

Defendant hits prosecutor after being convicted

Defendant hits prosecutor after being convicted JAKARTA (JP): Enraged by a six-year jail term handed down by the Central Jakarta District Court for selling Ecstasy pills, a satay seller hit a prosecutor with a bench yesterday.

Army colonel elected regent

Army colonel elected regent TANGERANG (JP): The regency legislative council elected Col. Agus Djunara the new Tangerang regent yesterday for the 1998/2003 term replacing Saifullah Abdulrachman.Agus, currently an assistant for sociopolitical affairs at Jakarta Military Command, won 35 of the 44...

Hindus complain over advert

Hindus complain over advert DENPASAR, Bali: The chairman of Parisada Hindu Dharma Indonesia, a council of Hindu religious leaders, and several leading Hindu activists have strongly criticized a controversial advertisement published in this month's edition of the Bali Kini tabloid.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on March 12, 1998: Buying Selling Rp Rp U.S. dollar 1 9,500.00 11,500.00Austrian shilling 1 710.90 930.10Australian dollar 1 6,317.50 7,728.00Belgian franc 1 251.00 305.80Canadian dollar 1 6,732.

Acehnese step back in time for contraception

Acehnese step back in time for contraceptionBy Syahruddin Hamzah BANDA ACEH (Antara): Until recently, Nurhayati's contraceptive of choice was hormonal injections.Now, like many women in the province of Aceh, she is relying on the family planning methods practiced by her mother's generation.

Goenawan Muhamad protests Ratna's arrest

Goenawan Muhamad protests Ratna's arrest JAKARTA (JP): Noted government critic Goenawan Muhamad and the Indonesian Society for Humanity are among the growing voices expressing their concern over the arrest of actress Ratna Sarumpaet and eight other activists.