Indonesian Political, Business & Finance News

Archive: 2 April 1998

52 articles found

Bengkulu's airport awaits new name

Bengkulu's airport awaits new name BENGKULU: The name of Indonesia's initial first lady, Fatmawati Soekarno, looks set to be the new name for Padang Kemiling Airport in Bengkulu.Governor Adjis Ahmad was quoted by Antara as saying that based on the reaction from the local community, many favor...

New water meters introduced

New water meters introduced JAKARTA (JP): Water company PT Kekar Thames Airindo (Kati) has begun its service improvement program by replacing defective water meters with new ones, the company said in a statement yesterday.

Last group of haj pilgrims depart

Last group of haj pilgrims depart JAKARTA (JP): Indonesia's last group of haj pilgrims departed for Saudi Arabia yesterday, bringing to a close the first stage of the country's massive airlift of 201,961 people which began March 6.

Patients stay away from doctors

Patients stay away from doctors PURWOKERTO, Central Java: The recession descending upon the country has forced many to reassess their lifestyles, but one man may have taken it a bit too far.The director of Emmanuel Hospital in Banjarnegara, Dr.

Tadjus calls for delay of sticker system

Tadjus calls for delay of sticker system JAKARTA (JP): The head of Golkar's Jakarta chapter, Tadjus Sobirin, has urged the city administration to postpone the implementation of the sticker system designed to replace the three-in-one traffic regulation.

BI confident inflation rate won't exceed 40 percent

BI confident inflation rate won't exceed 40 percent JAKARTA (JP): Bank Indonesia is optimistic that inflation will not exceed 40 percent this calender year even though it reached nearly 20 percent in January and February alone, a central bank executive said here yesterday.

Debt payment still required

Debt payment still required Japanese banks, in an effort to prevent greater difficulties, are reported to have written off about US$1.5 billion worth of bad loans made to private Indonesian companies. This, however, does not mean that the Indonesian companies have been absolved from their...

Canada offers RI $198m in aid

Canada offers RI $198m in aid JAKARTA (JP): Canada yesterday offered a C$280-million (US$198 million) bilateral support package for Indonesia to help the country overcome its economic crisis.Canada's Secretary of State for Asia-Pacific Raymond Chan told journalists that the package included C$250...

Stocks plunge 3.2% amid heavy selling pressure

Stocks plunge 3.2% amid heavy selling pressure JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) plunged further yesterday, losing 3.2 percent due to heavy selling pressure from foreign investors.

Asiad contingent still short of cash

Asiad contingent still short of cash JAKARTA (JP): Indonesia's Asian Games contingent organizers expressed relief yesterday on hearing about the team's free flight to Thailand, but doubted they had enough money to cover other expenses.

Fischer due in Jakarta for Indonesia-IMF talks

Fischer due in Jakarta for Indonesia-IMF talks WASHINGTON (Dow Jones): Stanley Fischer, first deputy managing director of the International Monetary Fund, will arrive Thursday in Jakarta for meetings to review what could be the final details of a reinvigorated economic program, an IMF official said...

Merging timber firms 'counterproductive'

Merging timber firms 'counterproductive' JAKARTA (JP): Director General of Forest Utilization Titus Sarijanto said yesterday that merging state timber companies into a single entity would be counterproductive.

Dozens of soldiers reprimanded

Dozens of soldiers reprimanded BOGOR (JP): Dozens of Armed Forces (ABRI) personnel have been reprimanded for violating military regulations, Commander of the Bogor Military Regional Command Brig. Gen. Eddi Budianto said yesterday.The negligent individuals were rounded up in an operation on Jl.

No fun in law-making forum

No fun in law-making forum JAKARTA (JP): Two subdistrict chiefs from Bekasi are in hot water after they were caught arm wrestling while attending a plenary meeting of the regency legislative council Tuesday.Sindang Jaya chief Sundan Jasan and Lambangsari chief Marsan N.

Arbitration agency PLN's best option

Arbitration agency PLN's best option JAKARTA (JP): State electricity company PLN should ask an international arbitration agency to settle its dispute with gas and power suppliers over payment, an analyst said yesterday.

Lawyers of Megawati supporters quit court

Lawyers of Megawati supporters quit court JAKARTA (JP): A court proceeding of a suit against the city police chief by 57 Megawati Soekarnoputri supporters over their detention descended into chaos yesterday when their lawyers walked out in protest over the authorities' refusal to release their...

UNEP chief set to meet Soeharto

UNEP chief set to meet Soeharto JAKARTA (JP): Executive Director of the Nairobi-based United Nations Environment Programme (UNEP), Dr. Klaus Topfer, is scheduled to meet President Soeharto today to review UN relief contributions to help control forest fires in Indonesia.

Hanoi hopes for 10-member ASEAN

Hanoi hopes for 10-member ASEAN HANOI (Reuters): Vietnam said yesterday it hoped Cambodia would be soon able to join the Association of Southeast Asian Nations (ASEAN) to boost economic development and stability in Southeast Asia.

Press needs help

Press needs helpFrom MerdekaThe price increase of newsprint from Rp 1,300 to Rp 7,000 per kilogram is a cause of great concern for the national press, especially considering that it is not easy to obtain a publishing license. Therefore, the national press must be helped.

Brunei cracks down on polluters

Brunei cracks down on polluters BANDAR SERI BEGAWAN (AFP): Brunei has beefed up laws governing open burning and pollution to check the spread of forest and bush fires raging in the oil-rich sultanate.The stiffer laws included the introduction of jail sentences and fines for an "unlimited amount",...

Govt to make new bankruptcy law

Govt to make new bankruptcy law JAKARTA (JP): President Soeharto ordered Minister of Justice Muladi yesterday to quickly prepare bankruptcy and antimonopoly bills to improve the legal infrastructure for businesses in the country.

RP lets airline fly again

RP lets airline fly again MANILA (Reuters): The Philippines Air Transportation Office (ATO) said yesterday it would allow Cebu Pacific Airways to fly again after one of its aircraft crashed in February in the country's worst air disaster.

Batam's electronic goods exports reach $2.25 billion

Batam's electronic goods exports reach $2.25 billion JAKARTA (JP): The new head of the Batam Industrial Development Authority, J.E. (Fanny) Habibie, said yesterday that exports of electronic goods from the island last year exceeded US$2.25 billion, almost 80 percent of the island's total exports.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on April 1, 1998: Buying Selling Rp Rp U.S. dollar 1 8,000.00 9,500.00Austrian shilling 1 574.40 740.20Australian dollar 1 5,106.10 6,167.20Belgian franc 1 202.70 243.50Canadian dollar 1 5,460.

Unused land opened to poor

Unused land opened to poor JAKARTA (JP): The West Jakarta mayoralty will allow poor people suffering from the economic crisis to cultivate over 200 hectares of land owned by property developers which have fallen into disuse.

ICMI proffers cadres for vice presidential staff

ICMI proffers cadres for vice presidential staff JAKARTA (JP): The acting chairman of the Association of the Indonesian Moslem Intellectuals (ICMI), Achmad Tirtosudiro, confirmed yesterday that the association had proposed some of its cadres to be staff members in the vice presidential office.

Sakakibara visits Jakarta

Sakakibara visits Jakarta TOKYO (Reuters): Eisuke Sakakibara, Japan's Vice Finance Minister for International Affairs, will visit Singapore and Indonesia beginning today, a finance ministry official said.

Donations pour in from C. Java

Donations pour in from C. Java SEMARANG, Central Java: The people of Central Java have so far contributed over 10 kilograms of gold, over Rp 400 million and hundreds of dollars in foreign exchange to help the state pull itself out of the financial crisis.

Lawyer's arrest an insult to profession: PHBI

Lawyer's arrest an insult to profession: PHBI JAKARTA (JP): The Indonesian Legal Aid and Human Rights Association (PBHI) lodged a protest with Chief Justice Sarwata yesterday over the arrest of one of its lawyers on March 10.

YLKI strongly protests phone tariff increase

YLKI strongly protests phone tariff increase JAKARTA (JP): The Indonesian Consumers Foundation (YLKI) has strongly protested the government's decision to raise local and intercity telephone rates from yesterday.

UNDP warns of food insecurity in RI

UNDP warns of food insecurity in RI JAKARTA (JP): The United Nations warned yesterday that the long drought and monetary crisis is threatening Indonesia's food security and that rice imports could reach record levels this year.

Grassroots groups want people at heart of ASEM

Grassroots groups want people at heart of ASEM LONDON (Agencies): Grassroots groups want this week's Asia- Europe summit to tackle Asia's financial crisis with new economic solutions that put ordinary people at their heart.

More migrants arrive in Medan from Malaysia

More migrants arrive in Medan from Malaysia MEDAN, North Sumatra (JP): Another group of Indonesian illegal migrants deported from Malaysia arrived yesterday at the Teluk Nibung Port in Tanjungbalai, eight of them needing immediate hospital attention.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film 3:05 Environment Program: Lembah Seribu Bunga 3:30 Science Film 4:00 Regional News 4:30 Creative Program: Karya Kita 5:00 Arabic Lessons 5:30 TV Series 6:00 News: Lintasan Berita 6:05 News: Rona Nusantara 6:15 Sports 6:30 TVRI...

Muladi told to conceptualize substance of students dialog

Muladi told to conceptualize substance of students dialog JAKARTA (JP): President Soeharto said yesterday that he was serious in his commitment to a dialog with students and instructed Minister of Justice Muladi to make the necessary arrangements."The President said the dialog was very important.

IMF is not the good Samaritan

IMF is not the good SamaritanBy T.J. Addati This is the first of two articles on the role of the International Monetary Fund and the World Bank in the global economy. JAKARTA (JP): American folk tradition frequently refers to the "Company Store".

NIKE clarifies baby case

NIKE clarifies baby case I would like to clarify some inaccuracies that appeared in The Jakarta Post on March 24, 1998 on page three in an article titled 'When stressed dad rocks cradle'.On behalf of NIKE Inc.

Decree on cigarette price hike revised

Decree on cigarette price hike revised JAKARTA (JP): The Indonesian government has cut back price increases of cigarettes produced by small companies to give them a chance to survive in the tightening cigarette market.

Local banks may face huge derivative losses

Local banks may face huge derivative losses JAKARTA (JP): The sharp plunge in the rupiah's value represents a "time bomb" for Indonesia's banking sector which is bloated by a much larger overseas obligation than what has officially been reported, according to Bank Niaga director Arwin Rasyid.

Acquiring special skills for the art of dialog

Acquiring special skills for the art of dialogBy Mochtar Buchori JAKARTA (JP): Dialogs can be conducted in different formats. The simplest is a conversation between two people. But not every such exchange of words, however, can be called a conversation or dialog.

Aid offered to Indonesian students in N. America

Aid offered to Indonesian students in N. America JAKARTA (JP): More than 15,000 Indonesian students studying in North America can breathe easier following announcements by the Canadian and United States governments that assistance would be accorded to the many cash-strapped students.

Thai shrimps gain from RI problems

Thai shrimps gain from RI problems BANGKOK (Reuters): Thailand, the world's top shrimp exporter, stands to benefit from the problems faced by the shrimp farming industry in competitor Indonesia, industry sources said yesterday.

Labor leaders reject govt decision on minimum wages

Labor leaders reject govt decision on minimum wages JAKARTA (JP): Labor leaders rejected yesterday the government's decision not to raise monthly minimum wages for 1998/1999, citing possible unrest among workers.

'Ojek' driver found murdered

'Ojek' driver found murdered TANGERANG (JP): An ojek (motorcycle taxi) driver was found murdered in the industrial area of Jatiuwung at about 7:30 p.m. on Tuesday, eyewitnesses and police said yesterday. His motorcycle had been stolen.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on April 1, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 650 0 0 AHAP Insurance 500 0 0 Alter Abadi 675 25 101,000 Alumindo Light Metal 400 -75 454,000...

Asiad hopefuls enter KASAD Cup

Asiad hopefuls enter KASAD Cup JAKARTA (JP): Four of the nations top karate experts will face their first test before the Asian Games when they compete in the fifth KASAD (Army Chief of Staff) Cup to be held in the Senayan indoor tennis stadium starting from tomorrow.

Nationalism

NationalismFrom MerdekaFor hundreds of years, our freedom fighters fought many wars to drive out the Dutch imperialist power. And with the establishment of Boedi Oetomo in 1908 and the declaration of the Youth Pledge in 1928, they worked against all odds to build up the nation's sense of...

New bankruptcy law

New bankruptcy law The government moved yesterday to act on an important component of the IMF-brokered reform package of Jan. 15 when President Soeharto instructed Minister of Justice Muladi to draft a new bankruptcy law and the first antimonopoly law as quickly as possible.

WB lends RI $234m for road projects

WB lends RI $234m for road projects WASHINGTON (Reuters): The World Bank said on Tuesday it had loaned Indonesia $234 million toward a road project in northern Sumatra, as well as $103.5 million toward an education project in West Java.

Coke won't raise prices

Coke won't raise prices SYDNEY (Reuters): Soft drink bottler Coca Cola Amatil Ltd said it will not raise the prices of its smaller-sized bottles of Coke in Indonesia for the time-being, despite high inflation there.The company also said that volumes growth from its Indonesian group was flat.

Sawangan land dispute lingers after 20 years

Sawangan land dispute lingers after 20 years JAKARTA (JP): Some 125 people from Sawangan, in Bogor, staged a protest here yesterday renewing compensation demands for their land acquired by a property developer 24 years ago.

Triple-tier project funding uncertain

Triple-tier project funding uncertain JAKARTA (JP): City councilors urged the developer of the triple-tier transit system yesterday to reveal who will finance the Rp 6.2 trillion (US$730 million) project.