Indonesian Political, Business & Finance News

Archive: 24 March 1998

48 articles found

RI worker may escape execution for murder

RI worker may escape execution for murder JAKARTA (JP): An Indonesian worker facing execution for murder in Mecca, Saudi Arabia, may escape death because the family of the victim, his own wife, pardoned him yesterday.

Stock prices end lower on news of SBI rate rise

Stock prices end lower on news of SBI rate rise JAKARTA (JP): Prices on the Jakarta Stock Exchange (JSX) reversed their upward trend yesterday on news of the increase in interest rates on Bank Indonesia's promissory notes (SBI), brokers said.

Milk producers agree to cut prices up to 20%

Milk producers agree to cut prices up to 20% JAKARTA (JP): Milk producers agreed yesterday to reduce factory prices of their products between 10 percent and 20 percent in response to a mounting outcry over the good's soaring cost.

The refugee tragedy

The refugee tragedy The outside world can feel nothing but pity for the thousands fleeing the crisis in Indonesia. They end their voyage hauled before the Singaporean and Malaysian courts and are punished with a prison sentence or a caning.

Lepetelo retains IBF title

Lepetelo retains IBF title JOHANNESBURG (AFP): South Africa's Zolani Lepetelo outpointed Faisol Akbar of Indonesia over 12 rounds to retain his IBF strawweight crown at the Carousel entertainment complex here.

Most Asian currencies firmer against U.S. dollar

Most Asian currencies firmer against U.S. dollar SINGAPORE (AFP): Asian currencies were firmer against the U.S. dollar yesterday, continuing last week's rebound as investors separated regional units from the plight of the Indonesian rupiah.

On banknote

On banknote I can sympathize with Mr. A. Hovers, Bank credibility, March 20), about being confused that his dollars were not accepted by BRI.It seems BRI is not alone with this strange dollar bill mentality.

Futures exchange will be open to all commodities: Official

Futures exchange will be open to all commodities: Official JAKARTA (JP): Trading activities in the planned futures commodity exchange will not only be limited to coffee and palm oil, a senior official said yesterday.

New cabinet members sending mixed messages

New cabinet members sending mixed messages New cabinet members have started rolling up their sleeves for the battle ahead of them, but economist Kwik Kian Gie finds confusing signals in their opening salvos.

130,522 unemployed back to work in North Jakarta

130,522 unemployed back to work in North Jakarta JAKARTA (JP): Labor-intensive projects in North Jakarta have put 130,522 jobless back to work, an official said yesterday.North Jakarta Deputy Mayor Sarimun Hadisaputra explained the program was conducted in two phases covering 35 geographical areas...

When stressed dad rocks cradle

When stressed dad rocks cradle TANGERANG (JP): The 30-year-old father detained since Saturday on charges of killing his own baby son had been suffering stress since he was fired from his work, a relative said yesterday.

Water Boom opens at Lippo Cikarang

Water Boom opens at Lippo Cikarang JAKARTA (JP): PT Lippo Cikarang, an urban development company, has launched Water Boom, a water recreation park at its complex in Cikarang, Bekasi.The new facility was officially opened Saturday by James T.

Rates for Tax Payment

Rates for Tax Payment JAKARTA (JP): The new official conversion rates as the basis for payment of import duty, value-added tax on goods and services, sales tax on luxury goods, export tax and income tax, valid from March 23 to March 29: U.S. dollar 1 Rp 10,278.00Austrian shilling 1 798.

50,000 Hindus to attend rite

50,000 Hindus to attend rite SEMARANG, Central Java: About 50,000 Hindus in Central Java are expected to attend the Tawur Agung Sasih Kesanga ceremony, which will be held on Saturday at Prambanan Temple just outside Yogyakarta.

New power prices not yet decided

New power prices not yet decided JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto said yesterday the government was still calculating new prices for fuel oil and electricity brought about by devaluation of the rupiah.

Suicide suspected in Pakistani's death

Suicide suspected in Pakistani's death JAKARTA (JP): A Pakistani national was found hanging by a plastic rope and a shawl in his residence on Jl. Cempaka Putih Timur in Central Jakarta early yesterday.A relative who asked to remain anonymous identified the man as Muhammad Javaid, 37, a trader of...

PSSI told to be firm over soccer bribery

PSSI told to be firm over soccer bribery JAKARTA (JP): The government asked the All-Indonesian Football Federation (PSSI) yesterday to follow its crackdown on referees found guilty of collusive practices with probes of club owners and managers allegedly involved in the match-fixing scam.

Housewives' plight

Housewives' plightFrom Media IndonesiaThe impact of the economic crisis on all sectors worries us, mothers, to a high degree when we think of work possibilities for our children.The medical profession is no longer attractive due to the very high prices of medicine.

Power and the law

Power and the law The various statements which have been made by Minister of Justice Muladi have had a refreshing effect. Having expressed his determination to put an end to the practice of collusion in the courts, he went a step further by saying that those in power were not to interfere in...

Ironsides vital for Thomas, Uber Cups

Ironsides vital for Thomas, Uber Cups JAKARTA (JP): National selectors will weed out those who crack under pressure in their picks for the Thomas Cup and Uber Cup badminton team championship finals in Hong Kong in May.

Govt to go all out in fight against forest fires

Govt to go all out in fight against forest fires JAKARTA (JP): Minister of Forestry and Plantations Sumahadi vowed yesterday to do his best to tackle the prolonged forest fires in East Kalimantan despite his ministry's limited budget and equipment.

Rare kangaroo found in Irian

Rare kangaroo found in Irian JAYAPURA, Irian Jaya: Researchers for the World Wide Fund for Nature have reportedly found an unusual type of kangaroo in the 2.5 million hectare Lorentz National Park, but do not yet know if the animal constitutes a new species.

Wiranto urges critical students to offer solutions

Wiranto urges critical students to offer solutions YOGYAKARTA (JP): Minister of Education and Culture Wiranto Arismunandar called on students who have recently become increasingly loud in their criticism of the government's handling of the economic crisis to offer their own solutions.

Indonesia slams Thai sailors

Indonesia slams Thai sailors BANGKOK (AFP): The Indonesian authorities have accused Thai fishermen of spreading AIDS in Indonesian ports by sleeping with prostitutes, Thai officials were quoted as saying yesterday.

Forex tax canceled for IMF package

Forex tax canceled for IMF package JAKARTA (JP): The government's decision to go back on its plan to impose a 5 percent tax on foreign exchange purchases is to allow the IMF-sponsored reform package to stabilize the rupiah, a senior official said yesterday.

ABRI defuses tension with food bazaar

ABRI defuses tension with food bazaarBy Ridwan Max Sijabat BANDUNG (JP): Contrary to charges, the Armed Forces have not responded to intensifying demonstrations over staple food prices with force alone.

Interest rates raised to curb inflation

Interest rates raised to curb inflation JAKARTA (JP): Bank Indonesia (BI) raised interest rates on its short-term promissory notes (SBIs) again yesterday for all terms except overnight in an effort to curb inflation and strengthen the rupiah.

81,456 workers lose jobs

81,456 workers lose jobs JAKARTA (JP): A total of 81,456 people have been fired and another 3,381 laid off across the capital since January because of the deteriorating economic crisis, an official said yesterday.S.

BI places $500m at 5 foreign banks

BI places $500m at 5 foreign banks JAKARTA (JP): Bank Indonesia has placed US$100 million at each of five foreign banks as a guarantee for letters of credits (L/Cs) issued by local state banks.Bank Indonesia director of monetary and economic statistics, Miranda S.

Crisis help

Crisis helpFrom Media IndonesiaThe government has taken an impressive step to relieve the people's suffering by appealing to high-ranking officials to contribute to the government.The President, his ministers and officials of the first echelon are contributing their basic salaries for one year to...

Actress Ratna unable to present lawsuits on police

Actress Ratna unable to present lawsuits on police JAKARTA (JP): The hearings of lawsuits filed by popular stage actress Ratna Sarumpaet and five other people against the police were postponed yesterday because the police did not release the plaintiffs from detention.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on March 23, 1998: Buying Selling Rp Rp U.S. dollar 1 8,500.00 10,500.00Austrian shilling 1 605.10 815.40Australian dollar 1 5,362.20 6,767.00Belgian franc 1 213.70 268.20Canadian dollar 1 5,704.

Amien denies allegations of conspiracy against govt

Amien denies allegations of conspiracy against govt JAKARTA (JP): Government critic Amien Rais dismissed allegations that he and several colleagues conspired in a recent meeting to disrupt stability and order as "worthless" yesterday.

Hermawan waits for bonus

Hermawan waits for bonus JAKARTA (JP): Former badminton star Hermawan Susanto demanded yesterday the Badminton Association of Indonesia hand over his bonus worth US$4,500 for winning the Malaysia Open last July.

Multipolar to battle on against Wal-Mart

Multipolar to battle on against Wal-Mart JAKARTA (JP): PT Multipolar Corporation, a publicly listed retailer, announced yesterday that it will continue with legal proceedings against its U.S. partner, retail giant Wal-Mart, despite a call from a U.S. district judge to halt the action.

Raw sugar premiums steady in Thailand

Raw sugar premiums steady in Thailand BANGKOK (Reuters): Thai raw sugar premiums were steady this week as re-purchases by sugar mills slowed, trade sources said yesterday.Thailand has so far met most of its export commitments to Indonesia, its biggest white sugar buyer this year, they said.

Bank Tamara seeking local merger partners

Bank Tamara seeking local merger partners JAKARTA (JP): Publicly listed Bank Tamara is seeking to merge with local banks to meet the new paid-up capital requirement of Rp 1 trillion (about US$100 million) by the end of this year, a bank executive said here yesterday.

Seventeen deported from Pangkalpinang

Seventeen deported from Pangkalpinang PANGKALPINANG, South Sumatra: Immigration officials here have deported 17 foreigners this year.Head of the local immigration office, A Malik, said the 17 people deported came from Thailand, Vietnam and Singapore.

PT Gresik Gases builds new plant

PT Gresik Gases builds new plant JAKARTA (JP): PT Gresik Gases Indonesia is developing an industrial gas plant in Gresik, East Java, with a daily production capacity of 1,100 tons of oxygen, the company said yesterday.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on March 23, 1998: Shares Close Change Trading Volume --------------------------------------------------------- Ades Alfindo 700 -25 13,000 AHAP Insurance 500 0 0 Alter Abadi 575 -25 142,500 Alumindo Light Metal 400 25 2,377,000...

Crisis and confidence

Crisis and confidenceFrom Bisnis IndonesiaWe appreciate the step taken by the President and his ministers to contribute their basic salaries for one year to help those who have been laid off from work in the wake of the economic crisis.

IMF 'flexible' on subsidy issues

IMF 'flexible' on subsidy issues JAKARTA (JP): The International Monetary Fund (IMF) is prepared to be flexible in ongoing negotiations with the Indonesian government on subsidy issues, including in the fuel sector, an IMF official said yesterday.

Man arrested for subletting vehicles

Man arrested for subletting vehicles BOGOR (JP): Police have arrested a man for allegedly subletting rented cars, Lt. Col. Edmon Ilyas, the chief of the Bogor Police precinct, said yesterday.Edmon said that officers arrested the suspect, identified as Badrudin, 52, based on information and...

250 RI workers repatriated from KL

250 RI workers repatriated from KL PEKANBARU, Riau: Some 250 Indonesian workers have been repatriated from Malaysia through the nearby port of Dumai each week for the past two months.Head of the Dumai immigration office, Taswem Tarib, said a ship docked in port at least once a week carrying...

ASEAN to seek statement on crisis

ASEAN to seek statement on crisis NASUGBU, Philippines (AFP): The Association of Southeast Asian Nations (ASEAN) will seek a special leaders' statement at a London meeting urging other nations to do more to address the regional currency crisis, an official said here Monday.

Ranariddh plans March 30 return to Cambodia: Aide

Ranariddh plans March 30 return to Cambodia: Aide BANGKOK (Agencies): Ousted Cambodian first premier Prince Norodom Ranariddh plans to return to Cambodia on March 30 following his pardon by his father, an aide said yesterday.

BI raises amount of cash allowed abroad to Rp 5m

BI raises amount of cash allowed abroad to Rp 5m JAKARTA (JP): Bank Indonesia, the central bank, has raised the ceiling for the amount of rupiah allowed to be physically carried out of or into the country to Rp 5 million (US$555) per person from Rp 50,000.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:45 TV Series: The Big Valley 3:10 Teen Program: Remaja Indonesia 3:35 Development Program: Hamkamnas 4:00 Regional News 4:30 Teen Drama: Yang Bersemi di Hati 5:00 English Lessons 5:25 Variety Show 5:30 Documentary: Hijau Bumiku 6:00 News: Lintasan Berita...