Indonesian Political, Business & Finance News

Archive: 3 June 1998

55 articles found

Goodyear to boost exports

Goodyear to boost exports JAKARTA (JP): Publicly listed automotive tire producer PT Goodyear Indonesia is set to boost its exports to offset the declining demand in the domestic market, an executive says.

Astra reports $200m loss in first quarter

Astra reports $200m loss in first quarter JAKARTA (JP): Publicly listed PT Astra International said yesterday that it booked a net loss of Rp 2.2 trillion (about US$200 million) during the first quarter of this year due to its increasing financial burden.

MAS defers Boeing order

MAS defers Boeing order KUALA LUMPUR, Malaysia (AP): The Malaysian Airline System (MAS) has deferred taking delivery of three Boeing airplanes for three or four years, a company spokeswoman said yesterday.

Journalists welcome advent of press freedom

Journalists welcome advent of press freedom JAKARTA (JP): Senior journalists welcomed yesterday the recent advent of greater press freedom and called on the government to revoke all rulings which repressed the media and even threatened their survival.

On Chinese Indonesians

On Chinese Indonesians Many Chinese Indonesians can tell stories of how their assets were destroyed or in some cases their safety targeted by the mobs in the recent riots that hit Jakarta and several other cities in Indonesia.

Bashing Soeharto

Bashing Soeharto Megawati Soekarnoputri, the eldest daughter of Indonesia's founding president Sukarno and chairwoman of the unrecognized Indonesian Democratic Party, has managed to impress many of us again by calling on all Indonesians to stop defiling fallen president Soeharto.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film 3:05 Family's Film: Road to Avonlea 4:00 Regional News 4:30 Teen Program: Remaja Indonesia 5:00 Science and Technology Program 5:30 Education Quiz: Cepat Tepat 6:05 My Country: Rona Nusantara 6:15 Sports 6:30 TVRI News (in...

Man jailed for thermos bottle theft

Man jailed for thermos bottle theft BOGOR (JP): A 22-year-old man has been sentenced by the Bogor District Court to nine months in jail for stealing a thermos bottle, a knife and several spoons and forks.

Jail term await 'Trisakti shooters'

Jail term await 'Trisakti shooters' JAKARTA (JP): West Jakarta Police chief Lt. Col. Timur Pradopo and 17 other police and military members face prison terms of between seven and 12 years if convicted of their alleged roles in last month's Trisakti shooting, an officer said yesterday.

Rent scandal hits governor

Rent scandal hits governor SAMARINDA, East Kalimantan: Legislators said yesterday that they would look into reports that the local administration is providing Rp 10 million per month to the governor to rent his own house.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on June 2, 1998: Buying Selling Rp Rp U.S dollar 1 11.300.00 12,800.00Austrian shilling 1 n/a n/aAustralian dollar 1 6,489.00 6,948.60Belgian franc 1 285.20 303.60Canadian dollar 1 7,206.60 7,655.

Kamoro culture back from brink of extinction

Kamoro culture back from brink of extinctionBy Gus Kairupan TIMIKA, Irian Jaya (JP): Possibly, probably, maybe, perhaps and more such words and sentences that indicate anything but solid certainty. If you were to read an account on Irian Jaya's background, say, as a foreword to a more detailed...

Credibility of graft investigators doubted

Credibility of graft investigators doubted JAKARTA (JP): Human rights campaigner Marzuki Darusman cast doubt yesterday on whether the attorney general's office could fulfill its pledge to investigate alleged corrupt practices under former president Soeharto.

Istana Nelayan employees, management reach agreement

Istana Nelayan employees, management reach agreement TANGERANG (JP): The strike called by 1,200 employees of the Istana Nelayan hotel and restaurant, which has remained closed after being badly damaged during last month's riots, ended peacefully after negotiations at the local manpower ministry...

Lawyers want police to free Bogor students and apologize

Lawyers want police to free Bogor students and apologize JAKARTA (JP): The Jakarta Legal Aid Institute plans to visit the Bogor Police Headquarters today to demand the release of three students accused of killing of a police officer.

Uncertainty pushes stocks, rupiah down

Uncertainty pushes stocks, rupiah down JAKARTA (JP): Shares and the rupiah continued to lose ground for the second consecutive day yesterday, with stock prices on the Jakarta Stock Exchange (JSX) down 3.4 percent.

RI could take 5 years to reach 1997 GDP level

RI could take 5 years to reach 1997 GDP level JAKARTA (JP): The Indonesian economy will continue to contract and will bottom-out this year before the first green shoots of the recovery spring up next year, but pre-crisis growth rates will not be recovered until 2002, economists predict.Mari E.

Government to aid domestic airlines

Government to aid domestic airlines JAKARTA (JP): The government is seeking ways to prevent ailing domestic airlines from becoming permanently grounded in the monetary crisis, a top air transportation official said yesterday.

Social role for Timor buildings

Social role for Timor buildings JAKARTA (JP): The city will soon change the use of Timor and Humpuss buildings belonging to former president Soeharto's son Hutomo Mandala Putra on Jl. Medan Merdeka Timur, Central Jakarta, for social services because their construction violated existing land-use...

Youth activists want Tangerang mayor to quit

Youth activists want Tangerang mayor to quit TANGERANG (JP): At least 75 youth activists visited the local council here to demand that Mayor Djakaria Machmud resign immediately from his current post.Calling themselves the Tangerang Rescuers Forum (FPT), the youths told councillors on Monday that...

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on June 2, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 400 -250 5,000 AHAP Insurance 600 100 5,000 Alter Abadi 600 -175 88,000 Alumindo Light Metal 325 50...

Civilian elite risks losing touch

Civilian elite risks losing touchBy Ikrar Nusa Bhakti JAKARTA (JP): The death of four Trisakti University students last May 12 motivated students to escalate their campaign for total reform. In the same way as Arief Rachman Hakim, a University of Indonesia student who was shot to death by the...

Korea cancels gas deliveries

Korea cancels gas deliveries SINGAPORE (Reuters): South Korea has canceled more than 700,000 tons of liquefied natural gas (LNG) deliveries for 1998 because of falling demand, a senior Petronas official said yesterday.

Southeast Asia smog abates

Southeast Asia smog abates SINGAPORE (Reuters): The weakening of the El Nio weather phenomenon may reduce the chances of choking smog blanketing Southeast Asia this year, weather experts said yesterday.

Surabaya students target local television stations

Surabaya students target local television stations SURABAYA (JP): Hundreds of students marched yesterday afternoon to the private SCTV television station here demanding their demonstration for reform be broadcast and refused to budge until the station managers yielded.

Foreign firms agree resumption of water deal

Foreign firms agree resumption of water deal LONDON (Agencies): Britain's Thames Water Plc said yesterday it had signed an agreement with the Indonesian authorities to resume operational and administrative control of water supplies in eastern Jakarta over the next few days.

Government agrees to sell Krakatau Steel to Ispat

Government agrees to sell Krakatau Steel to Ispat JAKARTA (JP): State firm PT Krakatau Steel (KS) confirmed yesterday that the government had agreed to sell up to 51 percent of the company's shares to Netherlands-based Ispat International.

Rice procurement may hit 20-year low

Rice procurement may hit 20-year low JAKARTA (JP): The State Logistics Agency (Bulog) estimated yesterday that its domestic rice procurement may fall to 250,000 metric tons this year, the lowest level in 20 years, due to a decline in rice production.

ITB questions 'Asiaweek' ranking

ITB questions 'Asiaweek' ranking BANDUNG (JP): The prestigious Bandung Institute of Technology (ITB) questioned criteria used by Hong Kong-based Asiaweek news magazine to place it 14th on the a list of Asia's 30 best institutes of science and technology.

S'pore guarantee vital for Pertamina

S'pore guarantee vital for Pertamina KUALA LUMPUR (Reuters): A US$5 billion Singapore government trade financing guarantee could be used to underwrite the maiden direct oil imports of Indonesia's energy monopoly Pertamina, industry sources said on Tuesday.

ABRI academies get new chief

ABRI academies get new chief JAKARTA (JP): Vice Adm. Achmad Sutjipto was installed yesterday as the new commandant general of the Armed Forces' academies, replacing Lt. Gen. Tamlicha Ali.Minister of Defense and Security/Armed Forces (ABRI) Commander Gen.

Fischer sees resumption of RI loans

Fischer sees resumption of RI loans TOKYO (Reuters): The International Monetary Fund (IMF) may be able to resume disbursement of funds to aid Indonesia's battered economy "reasonably soon", IMF First Deputy Managing Director Stanley Fischer said yesterday.

City stops collecting levies

City stops collecting levies JAKARTA (JP): The city administration stopped collecting 22 levies on 31 different types of municipality service as of May 23.The decision was taken in line with Jakarta Governor's Decree No. 134/1998 and Law No. 18/1997 on the collection of local taxes and levies.

OPEC basket price falls

OPEC basket price falls LONDON (Reuters): The price of OPEC's basket of seven crudes fell to US$12.79 a barrel on Monday from $13.38 last Friday, the OPEC news agency said quoting the OPEC Secretariat.The basket comprises Algeria's Saharan Blend, Indonesia's Minas, Nigeria's Bonny Light, Saudi...

Alleged 'Cendana' companies listed

Alleged 'Cendana' companies listed SERANG, West Java: The Serang prosecutors office is currently making an inventory of companies who are suspected of being owned or closely associated with former president Soeharto and his family.

Data of foreign lawyers

Data of foreign lawyers Referring to an article titled Are foreign lawyers a problem? in The Jakarta Post by Donna Woodward on April 23, 1998 concerning the issue of the employment of foreign lawyers in Indonesia, we restrain ourselves not to give any comments on it.

Habibie calls for common stance to boost economy

Habibie calls for common stance to boost economy JAKARTA (JP): President B.J. Habibie urged the people yesterday to put aside differences about his administration's legitimacy to work with the government to restore the country's economy.

Police should separate from ABRI: Wik

Police should separate from ABRI: Wik JAKARTA (JP): The National Police could discharge its law enforcement duties more effectively if it became an independent entity separate from the Armed Forces (ABRI), the chairman of the Association of Police Science said yesterday.Maj. Gen.

Free poll way to solve political crisis

Free poll way to solve political crisis Following Soeharto's downfall, public debate has centered around the validity of the transfer of power to Vice President B.J. Habibie and the legitimacy of the present government. Political observer J. Soedjati Djiwandono addresses these issues.

Councilors demand review of mega-projects

Councilors demand review of mega-projects JAKARTA (JP): City councilors urged the city administration yesterday to quickly reconsider its massive projects, most of which have ground to a halt.They said the administration should look into whether the investors and developers of projects such as the...

Maleo birds face extinction

Maleo birds face extinction JAYAPURA, Irian Jaya: The population of maleo birds in Indonesia's easternmost province of Irian Jaya has been dwindling apparently because of poaching and forest concessionaire activity, a study said.

RI to seek aid for highway

RI to seek aid for highway JAYAPURA, Irian Jaya: Indonesia's ambassador to Papua New Guinea (PNG) has pledged to find a financial backer for the construction of a highway linking Irian Jaya's provincial capital to the Papua New Guinean town of Vanimo.

BI's net int'l drop to to $14.63b

BI's net int'l drop to to $14.63b JAKARTA (JP): Bank Indonesia (BI) announced yesterday that its net international reserves (NIR) as of May 29 totaled US$14.63 billion, a decline of $61.8 million from the previous week's level.

Artists call for freedom, reject bureaucrats

Artists call for freedom, reject bureaucrats JAKARTA (JP): Several prominent artists and art students demanded yesterday the immediate dismissal of Salim Said and other members of the Jakarta Arts Council (DKJ), as well as the Jakarta Academy of Arts and Culture (AJ), the board which elects DKJ...

Weak currencies may not spur Asia, says BIS

Weak currencies may not spur Asia, says BIS ZURICH (Reuters): The sharp depreciation of the currencies of some troubled Asian countries may do little to spur their exports or economies, the Bank for International Settlements said.

Australia pledges A$14m to RI

Australia pledges A$14m to RI JAKARTA (JP): The Australian government pledged here yesterday to give Indonesia a A$12 million (US$8.4 million) grant to help reduce the high maternal mortality rate and another A$2 million in an assistance program to the National Commission on Human Rights.

RI debt talks continue

RI debt talks continue FRANKFURT (Reuters): The latest round of talks on rescheduling Indonesia's $80 billion in private-sector debt entered its second day in Frankfurt with no indication emerging of whether any progress has been made.

Stop condemning Soeharto: Belo

Stop condemning Soeharto: Belo JAKARTA (JP): Bishop of Dili Carlos Felipe Ximenes Belo joined leading opposition figures Amien Rais and Megawati Soekarnoputri yesterday in calling on the public to stop condemning former president Soeharto.

Unocal finds RI oil reserve

Unocal finds RI oil reserve HONG KONG (Dow Jones): Unocal Corp. (UCL) said it has discovered a new oil-bearing reservoir in offshore Indonesian waters.A well in the deepwater Merah Besar, in Unocal's East Kalimantan production sharing contract (PSC) area, established the presence of oil at shallow...

Balongan unit to resume operations next month

Balongan unit to resume operations next month JAKARTA (JP): The catalytic cracking unit of the state oil and gas company Pertamina's refinery in Balongan, West Java, is expected to resume operation early next month after almost a month-long stoppage.

A lesson for a multiparty system

A lesson for a multiparty system Kompas of May 30 carried a thought-inspiring caricature depicting a bunch of hilarious, merciless-looking men who raise posters identifying their respective political parties, while others hold up still blank posters.

Golkar further split as senior members call on Harmoko to go

Golkar further split as senior members call on Harmoko to go JAKARTA (JP): A group of senior Golkar members demanded the resignation of the ruling group's chairman Harmoko because his alleged deception of the public and former president Soeharto contributed toward the current political turmoil.

Reform for foreigners

Reform for foreigners As my friend Roland Woehrle pointed out in his May 27 farewell letter, Indonesia is a great country and I personally believe that if there is a solution to the present crisis, there might even be a brighter future than Indonesian people nowadays dream of! That requires good...

RI rowers upbeat over Asiad

RI rowers upbeat over Asiad JAKARTA (JP): The Indonesian Rowing Association pledged yesterday to soldier on with preparations for the 13th Asian Games despite financial and practice facility deficiencies.

Govt to ratify ILO convention on right to assemble

Govt to ratify ILO convention on right to assemble JAKARTA (JP): The government will soon ratify an International Labor Union (ILO) convention on the freedom of association and protection of the right to organize, Minister of Manpower Fahmi Idris promised yesterday.