Indonesian Political, Business & Finance News

Archive: 1 May 1998

54 articles found

Fires destroy houses at Angke

Fires destroy houses at Angke JAKARTA (JP): A fire destroyed 22 houses on Jl. Tubagus Angke, West Jakarta, yesterday, leaving some 60 people homeless, a firefighter said.No injuries were reported. Losses are estimated to reach Rp 300 million, West Jakarta Fire Department chief Syamsir Makmur said.

Taman Puring market a haven for the jobless

Taman Puring market a haven for the joblessBy Ivy Susianti JAKARTA (JP): Fifty-seven-year-old Tarmidi lost his job in October last year after working for a cleaning service company in South Jakarta for four years.

S. Korea's exports drop

S. Korea's exports drop SEOUL (Dow Jones): South Korea's prices on export and import products fell 11.7 percent and 9.1 percent, respectively, in April from a month ago due to the won's rise against the U.S. dollar, the central Bank of Korea said yesterday.

IMF to pay RI over time, admits its misjudgment

IMF to pay RI over time, admits its misjudgment WASHINGTON (Reuters): A senior official said on Wednesday that the International Monetary Fund (IMF) would make its next payments to troubled Indonesia in three installments, and he said the fund misjudged the crisis in its early stage.

Nigerians tried for trafficking 4.57kg of heroin in Jakarta

Nigerians tried for trafficking 4.57kg of heroin in Jakarta JAKARTA (JP): Two Nigerian men were separately indicted at Central Jakarta District Court yesterday for trafficking a total of 4.57 kilograms of heroin.

49th case of suicide recorded

49th case of suicide recorded JAKARTA (JP): An employee of state-owned forestry company PT Inhutani II committed suicide yesterday by jumping from the 13th floor of Manggala Wanabhakti building in Central Jakarta, raising the death toll from suicides in the capital this year to 49.

VP says reforms a must, but will take time to implement

VP says reforms a must, but will take time to implement JAKARTA (JP): Vice President B.J. Habibie acknowledged yesterday that the nation needs to carry out comprehensive political and economic reform, but stressed that the process would take a long time to implement.

Team set up to investigate garlic swindle

Team set up to investigate garlic swindle JAKARTA (JP): The Jakarta Police Internal Affairs Unit is currently investigating reports of a spice trader being swindled out of her produce, police said yesterday.

Firm debuts feedmeals

Firm debuts feedmeals BOGOR, WEST JAVA (JP): Feedmeal producer PT Multigerm Indonesia introduced yesterday two supplementary feedmeal products onto the domestic market.The company's general manager, Sutiono Surja, said they would boost poultry meat production by 23 percent and reduce the mortality...

Gunny sacks, trash displayed in effort to 'cleanse' Earth

Gunny sacks, trash displayed in effort to 'cleanse' EarthBy Sori Siregar JAKARTA (JP): Earth cleansing activities held in several towns throughout April coincided with the commemoration of Earth Day on April 22.

Students continue protests, some violence reported

Students continue protests, some violence reported JAKARTA (JP): Waves of student protests critical of the government and demanding sweeping reforms were unrelenting yesterday, with clashes between students and security officers erupting on several campuses.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on April 30, 1998: Buying Selling Rp Rp U.S dollar 1 7,800.00 8,800.00Austrian shilling 1 582.80 696.80Australian dollar 1 4,949.60 5,534.80Belgian franc 1 205.90 229.00Canadian dollar 1 5,323.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on April 30, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 600 0 10,000 AHAP Insurance 500 0 0 Alter Abadi 1,000 0 696,000 Alumindo Light Metal 375 0 1,000 Alumindo...

Minister confident reform program will be followed

Minister confident reform program will be followed JAKARTA (Agencies): Indonesia's senior economic minister said yesterday the rupiah could strengthen to 6,000 to the dollar by the end of the year if the reform program goes well and if the country's huge private foreign debt problem can be resolved.

Weightlifters dominate best athlete awards

Weightlifters dominate best athlete awards JAKARTA (JP): Weightlifters ended the badminton squad's long- held grip on the best national athletes contest by clinching four awards yesterday.A panel of selectors comprising sports figures and journalists named world champion Winarni the best female...

Asian officials vow to tackle economic reforms

Asian officials vow to tackle economic reforms GENEVA (Reuters): Top Asian officials hammered home their commitment to reforming their battered economies yesterday, the second day of the Asian Development Bank's annual meeting in Geneva.

Pasar Jaya parking policy under fire

Pasar Jaya parking policy under fire JAKARTA (JP): PD Pasar Jaya, the city-owned company which oversees the capital's markets, announced it had introduced a parking policy designed to boost revenue on April 1, despite strong opposition from the City Council.

Civil servants' salaries increased by 15 percent

Civil servants' salaries increased by 15 percent JAKARTA (Agencies): Indonesia's civil servants will receive 15 percent pay increases from today, Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita said yesterday.

Mid-afternoon darkness

Mid-afternoon darkness As might have been expected, Pius Lustrilanang's disclosure of the ordeal he suffered at the hands of his abductors during the two months of his disappearance, and subsequent hurried departure for the Netherlands only hours later, has created waves and drawn a multitude of...

50 percent of state firms are unhealthy

50 percent of state firms are unhealthy JAKARTA (JP): At least 50 percent of the 164 state companies are unhealthy, a senior government official said here yesterday.Marzuki Usman, secretary to the State Minister of the Empowerment of State Enterprises, said that based on half-yearly reports, last...

Low electricity tariff set for poor households

Low electricity tariff set for poor households JAKARTA (JP): Low-income households will still enjoy low electricity tariffs even after price increases expected next month, an official said yesterday.Director General of Electricity and Energy Development in the Ministry of Mines and Energy Endro...

Anti Malaria herb found in Irian

Anti Malaria herb found in Irian JAYAPURA, Irian Jaya: Noted medicine man Hembing Wijayakusuma said he has discovered that a herb called artemisia annua which is found in Jayawijaya district, Irian Jaya, contains a substance which serves as an effective anti-malarial drug.

Traffic sticker policy

Traffic sticker policyFrom Media IndonesiaIn the midst of the present monetary crisis, I could not help but laugh when I read in the mass media a statement made by a government official to the effect that the target of the sale of Rp 5,000 (62.5 U.S. cents)-stickers is executives with offices on Jl.

Advertising shows slight upturn in April amid crisis

Advertising shows slight upturn in April amid crisis JAKARTA (JP): The battered advertising industry registered a slight growth in business last month but long-term prospects remain uncertain, an executive of an industry grouping said yesterday.

Govt set to impose new tax on CPO product shipments

Govt set to impose new tax on CPO product shipments JAKARTA (JP): The government plans to impose a tax on the interisland shipment of crude palm oil (CPO) and its by-products in an attempt to curb smuggling activities.

Soeharto to meet House factions

Soeharto to meet House factions JAKARTA (JP): President Soeharto has invited the leaders of the political organizations and factions represented in the House of Representatives (DPR) to meet him today at the Bina Graha presidential office.

Lawyer defends political activist's overseas trip

Lawyer defends political activist's overseas trip JAKARTA (JP): A lawyer for political activist Pius Lustrilanang dismissed yesterday allegations that his client's overseas travel was aimed at humiliating the country.

Bearish run continues on local stock market

Bearish run continues on local stock market JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) fell for the fifth consecutive trading day yesterday, dragged down by heavy selling on most blue chip stocks, securities brokers said.

S'pore exports to EU taxed

S'pore exports to EU taxed SINGAPORE (Dow Jones): All Singapore exports entering the European Union with effect from Friday will be levied duties based on the Most Favored Nation, or MFN, tariff rates, as Singapore will be fully graduated from the European Commission's Generalized System of...

Turtle decline worrying

Turtle decline worrying KUPANG, East Nusa Tenggara: Environmentalists have expressed concern over the declining number of turtles around Serangan Island near Bali, as poachers continue to collect the animal's eggs which have a high commercial value.

Activists criticize Assembly

Activists criticize Assembly JAKARTA (JP): A group of pro-democracy activists reproached the People's Consultative Assembly (MPR) yesterday, demanding they "return" the people's sovereignty entrusted to them since the 1,000-member assembly has abused it for the interests of the government.

Price of OPEC crudes falls to $13.02 per barrel

Price of OPEC crudes falls to $13.02 per barrel LONDON (Reuters): The price of OPEC's basket of seven crudes fell to $13.02 on Wednesday from $13.28 a barrel on Tuesday, the OPEC news agency said quoting the OPEC Secretariat.

ITF helps Indonesia host junior tourney

ITF helps Indonesia host junior tourney JAKARTA (JP): The International Tennis Federation (ITF) has poured in US$30,000 to enable Indonesia to stage the World Junior Asia/Oceania qualifying tournament for the second successive year next week.

Tourism industry needs change

Tourism industry needs changeBy Yuho Konno JAKARTA (JP): Foreign currency earned from overseas tourists to Indonesia was US$ 6.62 billion in 1997, slightly short of the target. However, this figure did show an increase of 5 percent over the previous year.

Worst yet to come for S. Korea and Indonesia: ADB official

Worst yet to come for S. Korea and Indonesia: ADB official GENEVA (Reuters): The worst is yet to come for the crisis-hit economies of South Korea, Indonesia and Thailand, and it is no time for early rejoicing, a top official of the Asian Development Bank said on Wednesday.

ASEAN states try to reduce impact of crisis

ASEAN states try to reduce impact of crisis HANOI (AP): Asian countries are not trying to undercut each other despite shrinking foreign investment, rising unemployment and increasing competition for export markets, a top Indonesian official said yesterday.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Painting Exhibition: Works of Indonesian Painters Association at Devi Collection Interior House, Jl. Kemang Timur No. 46A (Phone: 7991636), South Jakarta, 10 a.m. to 9 p.m., until May 15.

Local food festival reveals diverse array of Indonesia

Local food festival reveals diverse array of Indonesia JAKARTA (JP): Empek-empek (fish cakes) from Palembang, gado gado (vegetable salad with peanut sauce) from Java and cumi-cumi Bali (squid with Balinese style).

More on dengue

More on dengue Professionally, Dengue Hemorrhagic Fever should be respected as more than an extraordinary incidence. It is a deadly epidemic (minister of health, The Jakarta Post, April 18). The Achilles heal is its prime vector, the aegypti.

Police destroy porn VCDs

Police destroy porn VCDs JAKARTA (JP): About 345,000 video compact discs (VCDs) containing pornographic material were destroyed at Penjaringan Police precinct, North Jakarta, yesterday.The VCDs were seized during a raid on Duta Harapan Indah shop in Pluit March 13 this year.

Ecotourism is an underestimated moneymaker: Environmentalists

Ecotourism is an underestimated moneymaker: Environmentalists BOGOR (JP): Proper promotion and understanding of ecotourism could help contribute badly needed revenue to the country, environmentalists here have said.

Signals of crisis ignored

Signals of crisis ignored I am writing in response to the letter 'Who really triggers the crisis' of April 30. The question posed by Lee Way Chun is a valid one. The answer to this is simple. The raider George Soros and friends pulled the trigger when they attacked in July 1997 the overvalued...

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Cartoon: Tom and Jerry Kids 3:05 Talk Show: Peran Ibu Sebagai Pendidik Anak 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Educational Quiz: Cepat Tepat 6:00 News: Lintasan Berita 6:05 My...

Bandung schools on the web

Bandung schools on the web BANDUNG, West Java: Twenty-two public high schools here have been hooked up to the Internet in a pioneering effort to establish a national educational network through the Internet.

New team for bank mergers

New team for bank mergers JAKARTA (JP): Bank Indonesia (BI) announced yesterday that the government had formed a team to coordinate mergers, consolidations and acquisitions of commercial banks.BI director Achwan said in a statement that the coordinating team would provide a "one-stop service" to...

Trisakti holds commencement

Trisakti holds commencement JAKARTA (JP): Trisakti University held commencement exercises for 1,898 students yesterday.Among the graduates at the Jakarta Hilton Convention Center were a granddaughter of Gen. (ret.) Abdul Harris Nasution and a daughter of North Sulawesi governor Maj. Gen. E.E.

Victor Espiritu wins 13th leg of Tour

Victor Espiritu wins 13th leg of Tour MANILA (AP): Philippine cycling team skipper and former champion Victor Espiritu won yesterday's "killer" 13th leg of the Tour of the Philippines, while teammate Warren Davadilla battled back to the overall lead.

Open letter to Fuad Bawazier

Open letter to Fuad Bawazier In March, I wrote a letter to Fuad Bawazier (then the director general of tax, now finance minister), complaining about the Rp 1 million fiscal tax. It was printed in Suara Pembaruan and Kompas. Until now I have received no reply.

Apartment for fire victims to be built

Apartment for fire victims to be built JAKARTA (JP): Governor Sutiyoso promised to build a low-cost apartment in Gunung Sahari, Central Jakarta, where about 500 people lost their homes in a fire Monday.

BI and major accounting firms to audit local banks

BI and major accounting firms to audit local banks JAKARTA (JP): Bank Indonesia (BI) and six of the world's major accounting firms will conduct a due diligence audit of Indonesia's commercial banks to ascertain their financial condition, a central bank official said yesterday.

Activists abducted by organized group

Activists abducted by organized group JAKARTA (JP): The National Commission on Human Rights said yesterday that student and political activists who went missing recently were abducted by a well-organized group.

Corruption worse over last five years: Survey

Corruption worse over last five years: Survey JAKARTA (JP): A majority of Indonesians living in big cities think that corruption is getting worse, according to a survey by the Center for the Study of Development and Democracy.

Asian central bankers fail to boost currencies

Asian central bankers fail to boost currencies SINGAPORE (Reuters): Asian currencies shuffled about in largely familiar ranges yesterday as traders found little to entice them in a raft of comments by regional central bankers attending the Asian Development Bank (ADB) meeting in Geneva.

Aceh governor re-elected

Aceh governor re-elected BANDA ACEH, Aceh: Syamsuddin Mahmud, 63, was re-elected yesterday as governor of Aceh for a second five-year term.Syamsuddin received 27 of the 45 votes cast in a ballot in the provincial legislature.