Indonesian Political, Business & Finance News

Archive: 16 May 1998

53 articles found

Indonesian folk songs

Indonesian folk songs Thank you for the articles about Indonesian folk music in The Jakarta Post on May 9, 1998. I found them extremely interesting.As the Indonesian language is widely taught in Australian primary and secondary schools, the majority of these language students are able to sing many...

Rioting provoked by anarchic actions of authorities

Rioting provoked by anarchic actions of authorities The rule of law ended in the capital this week following the fatal shooting of four university students on Tuesday. Mochtar Buchori, an observer of social and cultural affairs, speculates on what caused the anarchy.

Students' struggle for reforms

Students' struggle for reformsFrom MerdekaStatements made by some officials that the students' struggle for reforms did not represent the voice of the people are naive and a priori in nature.As a demonstrator of the 1966 generation, I have the moral obligation to join in speaking out that the...

Yue Yuen to stay despite unrest

Yue Yuen to stay despite unrest HONG KONG (Reuters): Sports shoe maker Yue Yuen Industrial (Holdings) Ltd said yesterday it had no intention of closing its operations in Indonesia despite the unrest and the company's business was operating normally.

Scores rush Bank Central Asia

Scores rush Bank Central Asia BOGOR (JP): Scores of people spent hours queuing for cash at a Bank Central Asia (BCA) automatic teller machine on Jl. Juanda because of fears that an attack on the bank's branch office in the mayoralty was imminent.

Asian crises loom over G-8 annual summit leaders

Asian crises loom over G-8 annual summit leaders BIRMINGHAM, England (Reuters): World leaders gathered yesterday for an annual summit likely to give graphic proof of their inability to influence Asia's crises.

Radio station offers round the clock riot news

Radio station offers round the clock riot news JAKARTA (JP): "Be prepared. Men... wake up and be vigilant. You'd better awaken your neighbors and guard your area against the possibility of looting," a broadcaster from the privately run Sonora Radio announced.

BP to import due to Balongan outage

BP to import due to Balongan outage SINGAPORE (Reuters): British Petroleum will purchase gasoline to cover a shortfall caused by an outage at Indonesia's 125,000 barrel-per-day Balongan refinery, a BP source said yesterday.

Indonesia beats England 5-0 in Uber Cup

Indonesia beats England 5-0 in Uber Cup HONG KONG (Agencies): The Indonesian women's badminton team, led by legend Susi Susanti crushed England 5-0 in their first Uber Cup tie yesterday.Susi opened Indonesia's first victory over England beating Julia Mann 11-0, 11-1.

Soeharto denies 'resignation' statement

Soeharto denies 'resignation' statement JAKARTA (JP): President Soeharto yesterday denied media reports suggesting that he was prepared to stand down from office.Soeharto, who flew in from Cairo before dawn yesterday, asked Minister of Information Alwi Dahlan to clarify the reports, which had...

Rampages leave long trail of destruction

Rampages leave long trail of destruction JAKARTA (JP): Massive rioting which broke out following the deaths of four Trisakti University student demonstrators Tuesday and continued up to yesterday wrought a heavy toll in destruction of public and private property across the capital.

Capt. Siagian's body buried

Capt. Siagian's body buried JAKARTA (JP): The body of Capt. R.E. Siagian, one of three soldiers killed during rioting on Tuesday, was buried with military honors at Tanah Tinggi Christian cemetery in Tangerang yesterday.

Hundreds of bodies found in debris

Hundreds of bodies found in debris JAKARTA (JP): The remains of at least 136 people, including of women and teenagers, were recovered yesterday from riot-torn shopping centers throughout the city torched by mobs Thursday.

Long queues at gas stations

Long queues at gas stations JAKARTA (JP): Many gas stations reopened yesterday after closing on Thursday when rioting spread throughout the city.Long queues of vehicles were seen at gas stations along Jl. Daan Mogot in West Jakarta; and Senen, Kwitang, Jl.

Govt cuts fuel prices after tragic rioting

Govt cuts fuel prices after tragic rioting JAKARTA (JP): The government announced a cut in fuel prices and electricity tariffs yesterday, effective from today, after recent increases were blamed for igniting riots in the capital and several other cities.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Art Exhibition: Works of Suromo, at Lontar Gallery, Jl. Utan Kayu 68 H, East Jakarta (Phone: 8573388), 10 a.m. to 8 p.m., until May 28. * Painting Exhibition: Study for Distance by Hanafi, at Galerie Focus, Jl. Kemang Selatan X B No.

Our sympathy

Our sympathyFrom MerdekaFirst, I would like to convey my deepest condolences to parents of the six Trisakti University students who died during the students' demonstration recently. I am deeply concerned over the tragedy.

Aneka Tambang's operations normal

Aneka Tambang's operations normal SINGAPORE (Reuters): PT Aneka Tambang nickel mining operations in southeast Sulawesi and Gebe island are functioning normally, a company spokesman said by telephone from Jakarta.Nickel mining is concentrated in Pomalaa in southeast Sulawesi and Gebe (Maluku).

Aurora Gold halts gold shipments

Aurora Gold halts gold shipments PERTH (Reuters): Indonesian gold miner Aurora Gold Ltd said yesterday it had halted shipments of gold from its Mt Muro mine in East Kalimantan province due to civil unrest in Jakarta but that mining was not affected.

Aeroflot maintains Jakarta flights

Aeroflot maintains Jakarta flights MOSCOW (Reuters): Russian flagship carrier Aeroflot said yesterday it would continue its new scheduled flights between Moscow and Jakarta despite unrest in the city.Vice-president Valery Vdovenko told Reuters the company had no plans to suspend the weekly flights...

Lower fuel prices will not quell unrest: Experts

Lower fuel prices will not quell unrest: Experts JAKARTA (JP): The government's decision to set lower fuel and power prices may have a little impact in dampening the escalating social unrest in the country, economists said yesterday.

Indonesian crisis will pressurize yen

Indonesian crisis will pressurize yen TOKYO (Reuters): The Japanese yen is expected to come under increasing pressure as the crisis in Indonesia takes its toll on Japanese banks and companies operating there, dealers and analysts in Tokyo said yesterday.

Influential public figures, residents deplore lootings

Influential public figures, residents deplore lootings JAKARTA (JP): Residents were in dismay and some in fear in the aftermath of widespread looting and destruction of public property which has been strongly condemned by religious and community leaders.

ADB management wants RI loan to go through

ADB management wants RI loan to go through MANILA (Reuters): Officials of the Asian Development Bank (ADB), whose board has delayed a decision on a loan package to Indonesia, say it is crucial that it is approved to help the economy stay afloat.

Take action against looters: Soeharto

Take action against looters: Soeharto JAKARTA (JP): President Soeharto appealed to the nation to maintain law and order together and instructed the Armed Forces to take firm action against looters and those who broke the law, Minister of Information Alwi Dahlan said yesterday.

Hundreds of locals, foreigners flee riot-torn Jakarta

Hundreds of locals, foreigners flee riot-torn Jakarta JAKARTA (JP): Hundreds of Indonesians and expatriates flocked to Soekarno-Hatta International Airport yesterday in a bid to flee the riot-torn city where hundreds of people have been killed over the past three days.

Clinton says Soeharto's fate rests with Indonesia

Clinton says Soeharto's fate rests with Indonesia BIRMINGHAM, England (Reuters): U.S. President Bill Clinton urged Indonesia yesterday to embrace political reform but said the fate of President Soeharto rested with his people.

City may amend bill on entertainment

City may amend bill on entertainment JAKARTA (JP): The City Council is currently debating an amendment to a 1996 bylaw proposed by the city administration on the taxation of commercial shows and games.City councilor Lukman F.

Sutiyoso abhors scandalous acts of mobs

Sutiyoso abhors scandalous acts of mobs JAKARTA (JP): Governor Sutiyoso said yesterday he was ashamed and disappointed by actions of marauding mobs in vandalizing buildings and looting their contents."As a governor and people's leader, I am really ashamed that my people's behavior is like that...

Economy crippled

Economy crippled Not a single economic measure, however sound it may be, seems to matter anymore as Indonesia descends into near chaos and a number of foreign governments contemplate evacuation of their citizens from the country.

Unrest spread to Surabaya, Yogyakarta and other towns

Unrest spread to Surabaya, Yogyakarta and other towns SURABAYA (JP): Economic activities ground to a halt and tension and fear reigned yesterday when a demonstration of thousands of people degenerated into an orgy of large-scale rioting, burning and looting in this capital of East Java.

More foreign firms quit Indonesian operations

More foreign firms quit Indonesian operations TOKYO (Reuters): More foreign companies said they had decided to halt their operations in Indonesia and were taking steps to protect employees and clients from the violence there.

S'pore denies meeting on rupiah

S'pore denies meeting on rupiah SINGAPORE (Reuters): The Monetary Authority of Singapore (MAS) denied rumors yesterday that it was due to meet banks to discuss trading in the Indonesian rupiah.An MAS spokesman told Reuters by telephone: "That's not true.

Jakarta hotel occupancy rates increase as riots continue

Jakarta hotel occupancy rates increase as riots continue JAKARTA (JP): Massive unrest throughout the city boosted the occupancy rates of many Jakarta hotels over the past two days, as local and foreign guests sought shelter to avoid the violence- torn streets.

Rubber prices firm on Indonesia woes

Rubber prices firm on Indonesia woes SINGAPORE (Reuters): Singapore rubber futures ended yesterday slightly firmer after a light day's trade dampened by continued fears over crisis-torn Indonesia."Indonesia has basically kept everybody out of the market," a dealer with a local brokerage said.

Asahan mulls more production cuts

Asahan mulls more production cuts SINGAPORE (Reuters): PT Indonesia Asahan Aluminum is considering further cuts in output as a result of falling water levels in the lake that generates power for the plant in north Sumatra, sources close to the company said.

IPA cancels convention

IPA cancels convention JAKARTA (JP): The Indonesian Petroleum Association (IPA) said yesterday it had canceled its 26th annual convention scheduled for next Monday to Wednesday at the Jakarta Convention Center in Senayan, South Jakarta.

Indonesia unrest boosts tin prices

Indonesia unrest boosts tin prices PHUKET, Thailand (Reuters): Rioting and economic troubles in the world's top tin producer Indonesia could help drive up already bullish prices, analysts and industry sources said yesterday.

Gold higher on overnight buying

Gold higher on overnight buying LONDON (Reuters): Gold gained near US$3 in early trade on Friday, on the back of good institutional buying while sentiment was affected by Indonesia's spiraling conflict, dealers said.Gold was last quoted at US$302.20/$302.

Riots, looting worsen Indonesia's economy

Riots, looting worsen Indonesia's economy JAKARTA (JP): The widespread riots and lootings in the capital over the past few days may further worsen the country's already weak economy, a top economic government official has said.

ANZ lending to RI firms $141m

ANZ lending to RI firms $141m SYDNEY (Reuters): Australia and New Zealand Banking Group Ltd's lending to local corporate clients in Indonesia totals US$141 million, a bank spokesman told Reuters yesterday.

Asian markets calmer as Indonesian marts paralyzed

Asian markets calmer as Indonesian marts paralyzed SINGAPORE (Reuters): Asian markets stabilized yesterday despite a rising body count in Indonesia's troubled capital, paralysis on Jakarta's financial markets.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Red Shoes 3:05 Children's Program: Duniaku 3:30 Science Film: Ticket to Adventure 4:00 Regional News 4:30 Sports 5:30 TV Series: Big Brother Jake 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports 6:30 TVRI...

Oil products bearish RI woes

Oil products bearish RI woes TOKYO (Reuters): The Tokyo oil products market was bearish yesterday on concern near-term demand from Indonesia could fall due to the social unrest there, traders said."Gas oil seems to be most affected purely because of the sheer volume Indonesia imports every month,"...

Gus Dur cool on establishment of MAR

Gus Dur cool on establishment of MAR JAKARTA (JP): A new alliance of civilian leaders was established yesterday, grouping prominent government critics such as Abdurrahman Wahid, Amien Rais and Megawati Soekarnoputri.

Coffee trade active on Indonesia fears

Coffee trade active on Indonesia fears HANOI (Reuters): Trade in Vietnamese coffee picked up amid high prices in the past two days as buyers, nervous about widespread rioting in Jakarta, sought to buy from alternative sources, dealers and exporters said yesterday.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on May 15, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 600 0 0 AHAP Insurance 500 0 0 Alter Abadi 750 0 0 Alumindo Light Metal 225 0 0 Alumindo Perkasa 350 0...

U.S. begins evacuating American citizens

U.S. begins evacuating American citizens JAKARTA (JP): The United States began evacuation procedures for nonessential embassy staff and its citizens here during the wee hours of this morning despite Indonesian government assurances.

DPR's incompetence

DPR's incompetenceFrom Pikiran RakyatMany circles have given their comments on the price increases of fuel and made their analyses on the impact of the price hike. All versions concluded that the fuel price increases would only add to the suffering of the little people.

Palm oil prices rise in Europe

Palm oil prices rise in Europe LONDON (Reuters): Political and economic concerns in Indonesia drove opening crude palm oil prices up by as much as US$15 a ton at the opening of the European vegetable oil market yesterday.

Natuna gas project to go ahead

Natuna gas project to go ahead TOKYO (Reuters): Key members of a Japanese consortium due to develop Indonesia's Natuna natural gas field said yesterday they were not reviewing their participation in the project despite the escalating social unrest in Indonesia.

Notice

NoticeNO EXCHANGE RATE: There were no foreign exchange rates available yesterday due to a suspension of currency trading by Bank Indonesia prompted by the riots in Jakarta. -- Editor

Pertamina to get piece of oil and fuel import action

Pertamina to get piece of oil and fuel import action JAKARTA (JP): State oil and gas company Pertamina will end the monopoly of crude oil and fuel imports now held by politically connected Perta Oil Marketing Ltd and Permindo Trading Oil Co Ltd, the company said yesterday.