Archive: 22 May 1998
50 articles found
Fri, 22 May 1998, 00:00 WIB
Feed meal prices cut to help ailing industry
Feed meal prices cut to help ailing industry JAKARTA (JP): The government has lowered feed meal prices to Rp 1,400 (14 U.S cents) per kilogram from between Rp 1,500 and Rp 1,800 per kilogram to help the country's ailing poultry industry, a senior official at the Ministry of Agriculture said Tuesday.
Fri, 22 May 1998, 00:00 WIB
A political compromise
A political compromise On Tuesday, a number of Islamic and intellectual leaders met with President Soeharto in the State Palace's Jepara Room. Discussed during this two-hour meeting were the proposals and demands that have been made by various parties, including the faction leaders who had asked the President that he judiciously resign. While the meeting was being held, students were converging on various campuses to prepare for their march on the legislature at Senayan.
Fri, 22 May 1998, 00:00 WIB
OECD maintains forecast
OECD maintains forecast ROME (Reuters): The Organization for Economic Co-operation and Development will maintain its 1998 forecast for growth in developed nations, despite the current crisis in Indonesia, an OECD chief economist said on Wednesday. Ignazio Visco told Reuters Television Italia the economic grouping would stick with its 2.5 percent prediction, having taken into account Indonesia's political and economic problems when making its six-monthly forecast.
Fri, 22 May 1998, 00:00 WIB
Analysts say Soeharto leaves behind appaling economic mess
Analysts say Soeharto leaves behind appaling economic mess SINGAPORE (Reuters): Indonesian President Soeharto has stepped down from the helm of a country in its worst economic mess since the 1960s and the problems can only worsen amid continuing political uncertainty, analysts said yesterday.
Fri, 22 May 1998, 00:00 WIB
Australia-RI loan talks
Australia-RI loan talks ADELAIDE (Reuters): Australian Treasurer Peter Costello said on Wednesday that the government was in talks with Indonesia about the release of the first part of its US$1 billion assistance package. "We have to negotiate the terms, we expect they can be concluded in the near future and whilst the Indonesian government continues to implement economic reform we will make the moneys available," Costello told reporters.
Fri, 22 May 1998, 00:00 WIB
Where to go in Jakarta:
Where to go in Jakarta: Exhibitions * Cartoon Exhibition: Population Issue, by Cartoonists from 9 countries in Asia, 10 a.m. to 5 p.m., in Gallery Pasar Seni Jaya Ancol, Jl. Lodan Timur, North Jakarta, until May 31. * Ceramic Painting Exhibition: Indonesia Molek Bahagian Kedua, by Suyatna, at Galeri Santi, Jl. Benda No. 4, Cilandak Timur, Kemang, South Jakarta, (Phone: 7806079), until May 30. * Art Exhibition: Works of Suromo, at Lontar Gallery, Jl.
Fri, 22 May 1998, 00:00 WIB
Deutsche Bank prepared for the worst in Indonesia
Deutsche Bank prepared for the worst in Indonesia FRANKFURT (Reuters): The head of Germany's largest bank said on Wednesday that the situation in Indonesia had worsened significantly since the end of 1997, when it made a large risk provision to cover its exposure to the Asian crisis and it was now prepared for the worst.
Fri, 22 May 1998, 00:00 WIB
Japan's aid to Indonesia to continue
Japan's aid to Indonesia to continue TOKYO (Dow Jones): Japan will continue to extend financial aid to Indonesia while maintaining close contact with the International Monetary Fund (IMF) regarding future policy on that issue, Koji Tanami, administrative vice finance minister said yesterday.
Fri, 22 May 1998, 00:00 WIB
`I QUIT'
`I QUIT' JAKARTA (JP): Bowing to pressure, president Soeharto announced his resignation yesterday and immediately handed power over to vice president B.J. Habibie. "I quit as president," Soeharto said in a short ceremony broadcast nationwide shortly after 9 a.m. from Merdeka Palace. The room fell silent as he explained, reading from a prepared text, about his reasons for stepping down from the position he has held for 32 years.
Fri, 22 May 1998, 00:00 WIB
Release of political prisoners demanded
Release of political prisoners demanded JAKARTA (JP): Just hours after the resignation of President Soeharto, there were already strong calls for the new government to release those incarcerated on "political" grounds. Legal expert Loebby Lukman said here yesterday that the new head of state should promptly grant amnesties and absolutions to those currently imprisoned for political cases such as former legislator Sri Bintang Pamungkas and labor leader Muchtar Pakpahan.
Fri, 22 May 1998, 00:00 WIB
Kerosene price
Kerosene price From Neraca The government's announcement of a reduction in fuel prices several days ago was quite a relief. One of the most welcome points is the cancellation of the increase in the price of kerosene. So kerosene costs the same as before, Rp 280/liter. Relieving it is, but we often buy kerosene at Rp 600 or Rp 700 per liter. Paying that much is a burden to us because the retail price of kerosene used to be only Rp 400/liter.
Fri, 22 May 1998, 00:00 WIB
Habibie promises 'gradual reform'
Habibie promises 'gradual reform' JAKARTA (JP): President B.J. Habibie outlined last night in his inaugural televised address his intention to execute "gradual and constitutional reform" and implement the IMF economic programs. In his first address to the nation since being sworn in as president in a hasty ceremony earlier in the morning, Habibie called on the people to rally behind him and promised "to remain open to all input and criticism from the people to hasten the reform process".
Fri, 22 May 1998, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on May 20, 1998: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 600 0 0 AHAP Insurance 500 0 0 Alter Abadi 750 0 0 Alumindo Light Metal 250 0 0 Alumindo Perkasa 350 0 0 Aneka Kimia Raya 300 0 0 Aneka Tambang 1,250 0 0 Anwar Sierad 125 0 0 Apac Centertex Corp.
Fri, 22 May 1998, 00:00 WIB
World leaders welcome Soeharto resignation
World leaders welcome Soeharto resignation SINGAPORE (Reuters): World leaders welcomed yesterday's resignation of Indonesian President Soeharto, and urged a peaceful continuation of political and economic reforms. "We welcome President Soeharto's decision, which provides an opportunity to begin a process leading to a real democratic transition for Indonesia -- an opportunity for the Indonesian people to come together and build a stable democracy for the future," U.S.
Fri, 22 May 1998, 00:00 WIB
Taiwan asks RI for protection
Taiwan asks RI for protection TAIPEI (Reuters): Taiwan yesterday urged Indonesia to strengthen protection for Taiwan's investments and nationals after Vice President B.J. Habibie, seen as Taiwan-friendly, takes over from Soeharto as Indonesia's leader. "We hope peace and order can resume swiftly in Indonesia," Premier Vincent Siew said in a cabinet meeting.
Fri, 22 May 1998, 00:00 WIB
Business sector reacts positively to Soeharto's exit
Business sector reacts positively to Soeharto's exit JAKARTA (JP): Economic and business figures responded positively to Soeharto's resignation but expressed concern over newly appointed President B.J. Habibie. "It gives us some hope, but we can't tell whether the new government will succeed until we see the new team," chairman of the Indonesian Footwear Association Anton J. Supit told The Jakarta Post yesterday.
Fri, 22 May 1998, 00:00 WIB
Coffee market awaits traders' return home
Coffee market awaits traders' return home SINGAPORE (Reuters): Indonesia's coffee market has come to a stop since ethnic Chinese started to flee after riots last week, traders said. "There is nobody you can contact in Indonesia. Most coffee traders in Indonesia are Chinese and they have all left," said one Bangkok-based trader. Another trader joked that business could be done in Singapore as many Chinese Indonesians were now staying at hotels in the city state.
Fri, 22 May 1998, 00:00 WIB
ACPC cuts coffee exports
ACPC cuts coffee exports LONDON (Reuters): Major coffee producers said they would cut 1998/99 (July/June) coffee exports to 52.13 million 60-kilo bags from 52.75 million due to El Nino weather pattern and the political uncertainty in Indonesia. The Association of Coffee Producing Countries (ACPC) on Tuesday also extended coffee export curbs to June 1999.
Fri, 22 May 1998, 00:00 WIB
Profile of outgoing, longest serving leader in Asia
Profile of outgoing, longest serving leader in Asia JAKARTA (JP): One of the most dramatic events in Indonesia's history took place yesterday morning when president Soeharto announced his resignation, bowing to the people's demands that he quit the presidency he has held for 32 years.
Fri, 22 May 1998, 00:00 WIB
Cross-cultural week begins in Yogya
Cross-cultural week begins in Yogya JAKARTA (JP): Shadow puppet show Petruk Takon Bapa (Petruk Asks Father) will mark the opening of a week-long Indonesian and French culture exhibition and discussion in Yogyakarta today. Organized by the French Cultural Center and the Information and Research Institute (ALOCITA), the event aims to represent the voice and works of known artists from both cultures and encourage an interchange of intellectual ideas and culture.
Fri, 22 May 1998, 00:00 WIB
Soeharto's resignation gets warm welcome
Soeharto's resignation gets warm welcome JAKARTA (JP): Leading public figures and organizations expressed relief at the news of Soeharto's resignation yesterday, but doubted whether President B.J. Habibie was the most prudent choice of replacement to end the crisis beleaguering Indonesia. Many debated what measures Habibie should now take, not only to justify his leadership but to rehabilitate the country politically, economically and socially.
Fri, 22 May 1998, 00:00 WIB
IMF delays credit disbursement to Indonesia
IMF delays credit disbursement to Indonesia WASHINGTON (Dow Jones): The International Monetary Fund will delay credit disbursements to Indonesia until the terms of a $10.1 billion standby credit arrangement can be renegotiated, a senior IMF official said.
Fri, 22 May 1998, 00:00 WIB
Political turmoil fuels Indonesia default fears
Political turmoil fuels Indonesia default fears HONG KONG (Reuters): The risk is increasing that Indonesia will default on its debt obligations and the possibility of a full-scale default will increase for as long as political confusion persists, analysts said.
Fri, 22 May 1998, 00:00 WIB
Ratna, friends jailed for ignoring order
Ratna, friends jailed for ignoring order JAKARTA (JP): North Jakarta District Court sentenced stage actress Ratna Sarumpaet and four of her friends to two months and 10 days each for ignoring a police order to halt a meeting at a cottage in Ancol on March 10.
Fri, 22 May 1998, 00:00 WIB
Parroting reports
Parroting reports After private TV stations Indosiar, ANteve, SCTV, RCTI and TPI gave accurate and interesting information on events in Indonesia earlier this month, the government, in this case state TV station TVRI, apparently felt it had been left behind by private TV stations. So, in order that interesting reports may not be enjoyed by viewers, Minister of Information Alwi Dahlan took the initiative and announced there would be a TV pool comprising TVRI and private TV stations.
Fri, 22 May 1998, 00:00 WIB
Slow demand for EFIC's Indonesian export fund
Slow demand for EFIC's Indonesian export fund SYDNEY (Reuters): The Export Finance and Insurance Corp (EFIC) has seen slow demand for its A$900 million in special funding to underwrite Australian exports to Indonesia. The government agency believes it would remain able to underwrite the trade despite the Indonesian crisis, EFIC's general manager business development Geoff Hickey told Reuters in an interview.
Fri, 22 May 1998, 00:00 WIB
Asia, European stocks rally on Soeharto news
Asia, European stocks rally on Soeharto news SINGAPORE (Reuters): Asian and European stock markets soared as Indonesian President Soeharto resigned yesterday, but many bourses pared gains as investors contemplated his controversial successor. Only neighboring Singapore clung on. On a wave of buying, Singapore's key Straits Times Industrials Index ended up 3.60 percent or 45.87 points at 1,319.65.
Fri, 22 May 1998, 00:00 WIB
Indonesians celebrate Soeharto's departure
Indonesians celebrate Soeharto's departure JAKARTA (JP): In Jakarta, the descension day of Soeharto was wildly celebrated at the House of Representatives by thousands of student demonstrators who had occupied the compound since Monday. They sang, waved banners and splashed about in the fountain in jubilation throughout the day. Thousands of people watched the revelry from the heavily jammed thoroughfare in front of the House.
Fri, 22 May 1998, 00:00 WIB
Cuts in bus and taxi fares accepted
Cuts in bus and taxi fares accepted JAKARTA (JP): The city chapter of the Organization of Land Transportation Owners (Organda) announced Tuesday that it had accepted the central government's decision to lower public transportation fares following the cut in fuel prices. The association's general secretary, Asrul Asis Taba, said his office was now waiting for Jakarta Governor Sutiyoso's response for the implementation of the revised tariffs.
Fri, 22 May 1998, 00:00 WIB
ABRI played a part in president's exit: Analyst
ABRI played a part in president's exit: Analyst JAKARTA (JP): A political observer said yesterday he believed the Armed Forces (ABRI) played an important role in the process toward Soeharto's resignation. Indria Samego, who is a researcher in the political department of the National Institute of Sciences (LIPI), was quoted by Antara news service as saying that ABRI was an essential factor behind the resignation.
Fri, 22 May 1998, 00:00 WIB
Estrada permits Marcos burial
Estrada permits Marcos burial MANILA (Reuters): Philippine President-elect Joseph Estrada said yesterday he would allow late dictator Ferdinand Marcos to be buried in Manila's Heroes Cemetery because it was time to entomb the past. "If we can forgive the Japanese who raped many of our women, why can't we forgive President Marcos for all his sins, if ever there are any?" Estrada told reporters. Marcos' remains are kept in an air-conditioned, glass crypt in his hometown of Batac, north of Manila.
Fri, 22 May 1998, 00:00 WIB
What sort of leaders are they?
What sort of leaders are they? It is surprising that while Soeharto was overseas and the situation in the country became serious following the deaths of a number of reform heroes, coupled with chaos and turbulence when looting was widespread and vehicles were set on fire, we did not see any signs of leadership by Vice President B.J. Habibie. It is also surprising that not one cabinet minister expressed condolences over the deaths of the student demonstrators shot by security personnel.
Fri, 22 May 1998, 00:00 WIB
Top Japanese firms warn of damage from Asia woes
Top Japanese firms warn of damage from Asia woes TOKYO (Reuters): Japan's top general trading firms on Wednesday warned that their business climate would remain cloudy this business year, given a long-running economic slump at home and financial and political woes in Asia. The nation's six biggest trading houses or "sogo shosha", known for handling a great variety of goods and services ranging from noodles to missiles, said recent political unrest in Indonesia particularly make them cautious.
Fri, 22 May 1998, 00:00 WIB
No exchange rate
No exchange rate There were no foreign exchange rates available Wednesday as Bank Indonesia suspended clearing operations and did not announce exchange rates, as activities closed in expectation of a mass protest.
Fri, 22 May 1998, 00:00 WIB
Many Chinese-Indonesians still afraid to go home
Many Chinese-Indonesians still afraid to go home JAKARTA (JP): Despite the military's assurance that the city is safe, hundreds of Chinese-Indonesians traumatized by last week's riots were still too scared to leave their refuges in the Thousand Islands and Soekarno-Hatta International Airport.
Fri, 22 May 1998, 00:00 WIB
Foreigners seek reform commitments from Habibie
Foreigners seek reform commitments from Habibie HONG KONG (Reuters): B.J. Habibie's appointment as the new President of Indonesia lacks credibility and authorities have only days to resolve an outstanding succession issue with the economy at a standstill, investors and analysts said.
Fri, 22 May 1998, 00:00 WIB
Briton killed in taxi robbery
Briton killed in taxi robbery JAKARTA (JP): The death of a British man on the Tangerang toll road last Thursday was due to an armed robbery and was not connected to widespread rioting on that day, police said yesterday. City police spokesman Lt. Col. E. Aritonang told The Jakarta Post that Neil Peacock, 36, a furniture architect for a Hong Kong-based company, was stabbed to death by two assailants. "He bled to death after being stabbed eight times," he said.
Fri, 22 May 1998, 00:00 WIB
Chronology of recent major events
Chronology of recent major events JAKARTA (JP): This is the chronology of major events leading up to yesterday's handover of power from President Soeharto to Vice President B.J. Habibie. Student demonstrations are not listed here as they have been taking place almost on a daily basis since the beginning of March. March 11: Soeharto and B.J. Habibie take oath of office as president and vice president respectively. March 14: Soeharto forms new cabinet.
Fri, 22 May 1998, 00:00 WIB
Indonesians who fled abroad likely to return: Consultant
Indonesians who fled abroad likely to return: Consultant SINGAPORE (Reuters): The majority of Indonesians who left the country would most probably return within the next few weeks as the threat of more riots and destruction recede, an Indonesian expert said yesterday. James Castle, chairman of the Indonesian-based Castle Group which provides business consultancy and research services on Indonesia, said in an interview the exodus problem was probably near its end.
Fri, 22 May 1998, 00:00 WIB
Tonasa raises cement output
Tonasa raises cement output JAKARTA (JP): PT Semen Tonasa, a state cement producer in South Sulawesi, plans to produce 3.3 million metric tons of cement this year, up 7 percent from 3.1 million metric tons produced last year. The company's spokesman, Supriyanto, told Antara news agency in Ujungpandang, South Sulawesi, that the output target was lower than its annual production capacity of 3.48 million metric tons.
Fri, 22 May 1998, 00:00 WIB
Text of Soeharto's resignation speech
Text of Soeharto's resignation speech JAKARTA (JP): "During these recent times, I have been following carefully the development of our country, especially the demands of the people for reforms in all aspects in the life of our nation and state.
Fri, 22 May 1998, 00:00 WIB
Indonesia through to face China in Uber Cup final
Indonesia through to face China in Uber Cup final HONG KONG (Reuters): Evergreen Susi Susanti guided holder Indonesia into a third successive Uber Cup final yesterday where the defending champion will face favorite China. Susi, a former world number one, repelled the challenge of the fast-improving Camilla Martin to set Indonesia on the road to a 4-1 victory over Denmark.
Fri, 22 May 1998, 00:00 WIB
It should not have happened
It should not have happened From Bisnis Indonesia On behalf of the alumni of Trisakti University at the University of New South Wales, Sydney, Australia, I would like to express deep concern about the deaths of our fellow students on May 12. We regret the event, which could have been prevented had the security apparatus been more considerate in controlling the situation. I am convinced that the sacrifice of the students will not be in vain.
Fri, 22 May 1998, 00:00 WIB
Can we be optimistic?
Can we be optimistic? Finally, president Soeharto bowed to his people's demand and resigned. This astonishing decision was unthinkable until the beginning of this week. Three days ago, despite the mounting public pressure for his resignation, the president was still doing his utmost to keep his position. He failed to realize that Indonesians were weary of his maneuvering.
Fri, 22 May 1998, 00:00 WIB
Mixed reactions to Soeharto's sudden resignation
Mixed reactions to Soeharto's sudden resignation JAKARTA (JP): People from all walks of reacted differently to the news of President Soeharto's resignation which stunned the world yesterday. Generally, all those asked for comment hailed the 76-year-old five-star general's abrupt decision to step down after 32 years in office. Unfortunately, none of the country's top entrepreneurs who enjoyed special treatment from Soeharto during his tenure could be reached for comment yesterday.
Fri, 22 May 1998, 00:00 WIB
Asahan's woes trim Japan aluminum stocks
Asahan's woes trim Japan aluminum stocks TOKYO (Reuters): Japanese aluminum buyers are looking forward to expected production cuts at PT Indonesia Asahan Aluminum this year, which should help trim huge domestic inventories, traders say. "Asahan would be a nice adjustment," said an aluminum trader at Mitsui & Co Ltd.
Fri, 22 May 1998, 00:00 WIB
Students jubilant, but not satisfied
Students jubilant, but not satisfied JAKARTA (JP): Students nationwide rejoiced following Soeharto's resignation yesterday but demanded that B.J. Habibie step down as president immediately. After watching the announcement, televised live at 9 a.m., thousands of students -- who have taken over the House of Representatives building in Central Jakarta since Tuesday -- ran to the compound to join a noisy but peaceful victory march.
Fri, 22 May 1998, 00:00 WIB
Military roadblocks cause problems for hospitals
Military roadblocks cause problems for hospitals JAKARTA (JP): Heavy barricades set up by the military along some major roads in South and Central Jakarta on Wednesday not only prevented people from going to their offices but also hindered those seeking medical attention at hospitals in the restricted areas. A top official at Budi Kemuliaan Maternity Hospital, Sri Susilastuti, said that the barricades had resulted in nothing but problems for the hospital's staff and patients.
Fri, 22 May 1998, 00:00 WIB
Soeharto's exit debated by lawyers
Soeharto's exit debated by lawyers JAKARTA (JP): Constitutional law expert Yusril Ihza Mahendra insisted that Soeharto's resignation and transfer of power to B.J. Habibie was in line with the 1945 Constitution, but other observers begged to differ. Yusril also said the transfer was in accordance with People's Consultative Assembly (MPR) Decree no. 7/1973 which regulates the transfer of power in the event of the president becoming incapacitated.
Fri, 22 May 1998, 00:00 WIB
B.J. Habibie -- a president by accident if not default
B.J. Habibie -- a president by accident if not default JAKARTA (JP): When B.J. Habibie was elected vice president by the People's Consultative Assembly (MPR) in March, few people thought he would ever succeed Soeharto as president. Even until a few days ago, no one foresaw that he would become Indonesia's third president so soon. His election to vice president was marked by controversy. It demonstrated the strong clout that Soeharto wielded, by personally picking his running mate.