Indonesian Political, Business & Finance News

Archive: 4 March 1998

62 articles found

PDI donates session honorariums

PDI donates session honorariums JAKARTA (JP): The "I Love My Homeland" drive, initiated by People's Consultative Assembly member Siti Hardiyanti Rukmana who sold U.S. dollars for rupiah, returned to the spotlight yesterday after a period of inertia.

Minority, dominant factions differ on reforms

Minority, dominant factions differ on reforms JAKARTA (JP): The minority parties pressed ahead yesterday with their demands for clean governance and political reform to be included in the State Policy Guidelines for the next five years while government factions in the People's Consultative Assembly...

Forest fire losses may exceed Rp 100b

Forest fire losses may exceed Rp 100b JAKARTA (JP): The fires that have ravaged more than 20,000 hectares of brush and forest in East Kalimantan over the last two months have incurred Rp 76.2 billion in losses for Indonesia.

Ananda tests Mugello circuit

Ananda tests Mugello circuit JAKARTA (JP): Indonesian Formula 3 racer Ananda Mikola had the opportunity to test the Mugello circuit in Italy and did not experience any obstacles."I am satisfied with the test and I am grateful for the cooperation between the Marlboro Humpuss team and RC Motorsport...

Obituary

Obituary Maska Ridwan, a Golkar member of the House of Representatives and People's Consultative Assembly, died yesterday morning at Mitra Keluarga Hospital in East Jakarta, where he had been treated for a stroke in the past week.

Proposed bus fare increase prompts public outcry

Proposed bus fare increase prompts public outcry JAKARTA (JP): Councilors and commuters voiced yesterday their opposition to a proposed fare increase for city buses and minibuses of between 70 percent and 150 percent.

UK colleges offer help amid crisis

UK colleges offer help amid crisis JAKARTA (JP): At least 33 British universities and colleges are offering help to Indonesian students intending to study overseas on how to beat the monetary crisis, a British Council executive said yesterday.

Passports of 15 Sri Lankans found

Passports of 15 Sri Lankans found JAKARTA (JP): Police have located the passports belonging to 15 Sri Lankans who were arrested Thursday at Soekarno-Hatta International Airport for attempting to travel abroad without the necessary documents.City police spokesman Lt. Col. E.

Asian currencies soften over Indonesian uncertainty

Asian currencies soften over Indonesian uncertainty SINGAPORE (Reuters): Asian currencies drifted lower in slow trade late yesterday as uncertainty over Indonesia and a lack of fresh impetus elsewhere dampened interest.Indonesia remained in the spotlight as visiting U.S.

Spotlight

SpotlightPhoto A: HiltonJakarta Hilton InternationalVIP GUEST: Slovakia's Minister of Foreign Affairs Zdenka Kramplova (second from left) and the Ambassador of Slovakia for Indonesia, Peter Ambrovic (third from right), are escorted by Michael Nigitsch, general manager of Jakarta Hilton...

Unsold plywood stock totals 1.2 million cubic meter

Unsold plywood stock totals 1.2 million cubic meter JAKARTA (JP): At least 1.2 million cubic meters of unsold Indonesian plywood have accumulated in warehouses over the past two months due to a sharp drop in demand of plywood overseas, the Association of Indonesian Wood Panel Producers (Apkindo)...

Vice president

Vice president As a retired civil servant I was interested in Gen. (ret.) Sayidiman Suryohadiprojo's article Foreigners questionable agenda, Feb. 20, 1998. Sayidiman was unhappy with the opinion of former U.S.

Soeharto's spech 'incomplete'

Soeharto's spech 'incomplete' JAKARTA (JP): The ousted leader of the Indonesian Democratic Party (PDI), Megawati Soekarnoputri, said yesterday that President Soeharto's accountability speech was incomplete as it did not include sufficient details on issues such as political development.

Clean cabinet campaign gains momentum

Clean cabinet campaign gains momentum JAKARTA (JP): The push for cleaner government stepped up a gear yesterday, as People's Consultative Assembly legislators and observers debated whether would-be cabinet ministers should declare their personal wealth.

Boom and bust: Natural cycle hits Indonesia hard

Boom and bust: Natural cycle hits Indonesia hardBy Sri Pamoedjo Rahardjo JAKARTA (JP): The monetary fiasco in Indonesia is proving to be a complicated situation. Heads of states and directors of international organizations have visited our shores offering all kinds of solutions and financial...

Mondale's mission

Mondale's mission U.S. President Clinton's special emissary, former U.S. vice president Walter Mondale, has officially come to Indonesia to discuss the economic crisis with President Soeharto. But speculation has arisen on both sides of the Pacific over the real nature of his mission.

Catch of the day at Pluit Fish Market

Catch of the day at Pluit Fish Market For even the most avid seafood connoisseur, the pungent odor of a fish market may rank up there with hospitals and garbage dumps as the place you least want to visit on a regular basis.

Controversial timber estate ready for harvest

Controversial timber estate ready for harvestBy Sylvia Gratia M. Nirang SUBANJERIJI, South Sumatra (JP): After facing sharp criticism from environmental bodies since the early stages of its inception, PT Musi Hutan Persada (MHP) is now ready to harvest part of its 193,500-hectare timber estate.

RP concerned over satellite

RP concerned over satellite MANILA (AFP): Philippine foreign secretary Domingo Siazon cautioned China yesterday against any move to install satellite facilities on a reef in the disputed Spratly islands.

Brick by brick, Abbas lays foundation for development

Brick by brick, Abbas lays foundation for development KUNINGAN, West Java (Antara): It is backbreaking work making bricks for a living, but Abbas is content with his life.It brings with it a feeling of satisfaction for this modest man from Pendeyrawey hamlet in Cikananga village of Kuningan...

MPR reminded to heed workers' aspirations

MPR reminded to heed workers' aspirations JAKARTA (JP): Indonesia's only sanctioned labor union called on the People's Consultative Assembly (MPR) yesterday to draw up State Policy Guidelines which prioritized workers' welfare and the creation of new jobs.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on March 3, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 800 50 62,500 AHAP Insurance 400 0 0 Alter Abadi 525 0 5,000 Alumindo Light Metal 400 75 3,586,000...

TV today

TV todayTVRI 7:00 a.m. Morning News 7:30 Talk Show 8:00 Breaking News 8:10 Music 9:00 Breaking News 9:10 Profile: Paket Profil Pembangunan 9:27 Music 10:10 Talk Show 10:40 Music 11:00 TVRI News 11:15 Music 11:40 Profile: Paket Profil Politisi 12:00 p.m.

Team formed to trace killer

Team formed to trace killer SEMARANG, Central Java: The Kudus police precinct has formed a special team to trace the killer of a woman whose boneless remains were found in a ditch near Jati Wetan livestock market Saturday.The head of the precinct, Lt. Col.

Britain moots ASEM trust fund

Britain moots ASEM trust fund BANGKOK (AFP): Britain mooted yesterday setting up an "ASEM trust fund" to provide assistance to struggling Asian economies, British and European Union (EU) officials said in Bangkok.

RP out of IMF sick ward

RP out of IMF sick ward MANILA (Reuters): President Fidel Ramos yesterday compared the Philippines to a fully recovered patient of the International Monetary Fund, leaving the sick ward this month as its once healthy neighbors hobbled in for treatment.

Bud of hyper-inflation

Bud of hyper-inflation A 12.76 percent rate of inflation last month, almost double the general price rise in January and way above last year's 11.05 percent rate of inflation, could be the bud of hyper-inflation if the rupiah remains weak and unstable for much longer.

Most Asia-Pacific stock prices end lower

Most Asia-Pacific stock prices end lower TOKYO (AFP): Most Asia-Pacific stock markets ended lower yesterday as investors locked in profits on recent gains and waited for fresh leads to emerge.Jakarta's bourse was the star performer of the day, putting on 4.

Marsetio leads colleagues in rallies

Marsetio leads colleagues in ralliesBy Sirikit Syah SURABAYA (JP): Indonesia has recently witnessed a spate of student demonstrations over many critical issues -- from skyrocketing prices to the need for the People's Consultative Assembly to issue decisions that will usher in economic and political...

Japan ready to help Indonesia beat crisis, says Sakakibara

Japan ready to help Indonesia beat crisis, says Sakakibara KUALA LUMPUR (Agencies): Japan is ready to explore ways to help Indonesia cope with its economic troubles, Japanese Vice Finance Minister for International Affairs Eisuke Sakakibara said yesterday.

ASEAN ties to remain strong

ASEAN ties to remain strong KUALA LUMPUR (AP): Malaysia's prime minister said the mass repatriation of illegal immigrants would not affect the spirit of solidarity in the Association of Southeast Asian Nations.

Clinton wants RI to stick to IMF plan

Clinton wants RI to stick to IMF plan JAKARTA (JP): U.S. President Bill Clinton said yesterday that pursuing economic reforms agreed with the International Monetary Fund (IMF) remained the best way for Indonesia to overcome the economic crisis.

Reimbursements for closed banks to start

Reimbursements for closed banks to start JAKARTA (JP): All customers of the 16 liquidated banks which have yet to recover all of their deposits and savings will be reimbursed in full from March 6, Bank Indonesia announced yesterday.

Indonesia: Quest for a civil society

Indonesia: Quest for a civil societyBy Budiono Kusumohamidjojo JAKARTA (JP): The 1997 general election has long since past and soon Indonesia will have its new president, vice president and cabinet. However, these political events have been marred by a number of domestic riots which were met with a...

Live music for lunching members

Live music for lunching members JAKARTA (JP): A keyboard player, a singer and a couple of unembarrassed, musically eager diners turned the normally sterile and nondescript cafeteria at the People's Consultative Assembly complex into a lively lunch joint.

Malaysian sawn timber levy

Malaysian sawn timber levy KUALA LUMPUR (Reuters): Malaysia will review its export levy on sawn timber to adjust in accordance with changes to be made by Indonesia, Primary Industries Minister Lim Keng Yaik said yesterday.

Govt may airlift cash-strapped students in Egypt

Govt may airlift cash-strapped students in Egypt JAKARTA (JP): The government is weighing the possibility of airlifting home many of the nearly 2,500 cash-strapped Indonesian students studying in Egypt.

Traders puzzled by lack of coconut oil tax

Traders puzzled by lack of coconut oil tax LONDON (Reuters): European vegetable oil traders were puzzled Monday by the lack of any export tax on coconut oil from Indonesia."It makes no sense at all, the Indonesians have not limited or banned the export of coconut oil, nor are they going to tax...

Boys' disappearance remains a mystery

Boys' disappearance remains a mystery TANGERANG (JP): Two eight-year-old boys have been missing for nearly two months despite extensive efforts by their parents and relatives to find them.Schoolmates Bayu Indra and Isni were last seen on Jan.

Foreign investors eye RI property market

Foreign investors eye RI property market JAKARTA (JP): Billions of dollars worth of property in the country could be bought up by foreign investors by the end of the year, a real estate analyst said yesterday.

Indonesia currency board must be ambitious: Hanke

Indonesia currency board must be ambitious: Hanke WASHINGTON (Agencies): A key economic adviser to President Soeharto said the currency board he envisions for Indonesia should be considerably more ambitious than those in other countries, the Washington Post reported Tuesday.

Refinery closure causes few oil ripples

Refinery closure causes few oil ripples SINGAPORE (Reuters): The closure of Indonesia's 125,000 barrels-per-day (bpd) Balongan refinery was unlikely to prompt a pick up in oil product imports in March, traders said yesterday.

Journalist fools journalist

Journalist fools journalist JAKARTA (JP): "Foreign journalists are here (in the city) like they are watching a rumbling volcano that may erupt any time soon," said a local reporter working as a stringer for an American news agency.

Weightlifting association to punish wayward athletes

Weightlifting association to punish wayward athletes JAKARTA (JP): The Indonesian Weightlifting, Powerlifting and Bodybuilding Association's secretary-general, Djoko Pramono, told reporters yesterday that undisciplined athletes, even if they were world champions, must be punished.

Analysts urge govt to tackle inflation

Analysts urge govt to tackle inflation JAKARTA (JP): Economists are urging the government to continue economic reforms and secure adequate stocks of basic staples to prevent hyperinflation in the country's economy.

Riot act for foreign hacks

Riot act for foreign hacks JAKARTA (JP): A Golkar news conference for foreign correspondents ended with a legislator reading them the riot act yesterday over the way international media were portraying Indonesia.After going to the trouble to explain Golkar's stand on current affairs, Theo L.

Members reject suggestions to cut Assembly session short

Members reject suggestions to cut Assembly session short JAKARTA (JP): People's Consultative Assembly members dismissed suggestions yesterday that the 11-day General Session be shortened as the Rp 44.7 billion (US$5 million) event was marching smoothly toward its foregone conclusions.

Three students jailed for murder

Three students jailed for murder BOGOR (JP): Three technical high school students were sent to jail after Bogor District Court found them guilty of mobbing and killing a student from a different school.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on March 3, 1998: Buying Selling Rp Rp U.S dollar 1 8,250.00 10,250.00Austrian shilling 1 593.10 804.30Australian dollar 1 5,339.30 6,764.40Belgian franc 1 209.40 264.30Canadian dollar 1 5,538.

Oil hovers above $14, waits for Saudi word

Oil hovers above $14, waits for Saudi word LONDON (Reuters): Oil prices hovered just above US$14 a barrel on Monday as traders waited to see if OPEC kingpin Saudi Arabia would heed calls for an emergency meeting of the cartel to discuss a glut in world oil supplies.

Album

AlbumPhoto A: ChiefsJP/obyCHIEFS' HUDDLE: Armed Forces faction Assembly members National Police chief Gen. Dibyo Widodo (left), Navy Chief of Staff Adm. Arief Kushariadi (center) and Air Force Chief of Staff Marshal Sutria Tubagus, exchange thoughts during a meeting.

Japan provides new $158 million loan to Jakarta

Japan provides new $158 million loan to Jakarta JAKARTA (JP): The Japanese government has agreed to provide a 20 billion (US$158 million) quick disbursement loan to support Indonesia's human resource development.

USDA plans Indonesian aid

USDA plans Indonesian aid WASHINGTON (Reuters): The U.S. Agriculture Department is still considering extending PL480 program assistance to help financially struggling Indonesia buy U.S. agricultural goods, a USDA aide said Monday.

Garuda cuts domestic, international flights

Garuda cuts domestic, international flights JAKARTA (JP): State-owned airline Garuda Indonesia has cut the frequency of its domestic and international flights 26 percent and 30 percent respectively as a response to lower ticket sales due to the economic crisis.

Bob Hasan's fan club

Bob Hasan's fan club JAKARTA (JP): Reporters on a quest for the great quote of the day are not the only people tracking timber tycoon Muhammad "Bob" Hasan these days.As the member of the People's Consultative Assembly was attacked with "tough questions" from swarming reporters Monday, a young woman...

Students launch hunger strikes, call for reform

Students launch hunger strikes, call for reform JAKARTA (JP): More university students in Java staged protests yesterday demanding political reforms and lower prices for basic foodstuffs.As the 11-day General Session of the People's Consultative Assembly (MPR) entered its third day, seven students...

PT ARG declines to comment on sticker sales deal

PT ARG declines to comment on sticker sales deal JAKARTA (JP): PT Angkasa Rona Graha (ARG), which was appointed to raise funds for last year's 19th SEA Games through the sale of stickers, declined to comment on its extended contract to raise funds until April 30, 1998.

How critical is the role of the vice presidency?

How critical is the role of the vice presidency?By Pandaya JAKARTA (JP): The raging debate on who will become the republic's next vice president has died down since all of the five political factions that make up the 1,000-strong People's Consultative Assembly picked B.J.

Stocks jump on stable political situation

Stocks jump on stable political situation JAKARTA (JP): Stock prices on the Jakarta Stock Exchange (JSX) rose for a second consecutive day yesterday, with the main price index gaining 4.4 percent at the close of trading.

StanChart's Brougham stays

StanChart's Brougham stays LONDON (Reuters): Banking group Standard Chartered Plc said yesterday that director David Brougham is to remain on the board following his appointment as chairman of the creditors' committee established for Indonesia.

Perumka carries 3.8m passengers

Perumka carries 3.8m passengers BANDUNG, West Java: State-owned railway company Perumka transported more than 3.8 million passengers during the 30-day Idul Fitri exodus, starting from Jan. 15, the company's spokesman said yesterday.

Thai rice for Indonesia

Thai rice for Indonesia BANGKOK (Reuters): Thailand is expected to sell at least 1.5 million tons of rice to Indonesia this calendar year from the country's projected total import demand of 5.0 million tons, a senior Thai trade source said yesterday.