Indonesian Political, Business & Finance News

Archive: 5 June 1998

55 articles found

Bengkel Peduli at Bengkel Nightpark

Bengkel Peduli at Bengkel Nightpark JAKARTA (JP): Bengkel Nightpark is to hold a fashion show titled Bengkel Peduli 1998 (Bengkel Cares 1998), featuring about 100 collections presented by noted models from Look Model Inc. tonight.

PPP wants assets of Soeharto frozen

PPP wants assets of Soeharto frozen SURAKARTA, Central Java: The Surakarta branch of the United Development Party (PPP) has sent letters to at least nine heads of government asking them to freeze assets belonging to former president Soeharto.The letter, signed by Surakarta branch chairman M.

HK, Taiwan stocks slide, Jakarta shares climb

HK, Taiwan stocks slide, Jakarta shares climb SINGAPORE (Reuters): A hefty fall in U.S. stocks overnight forced some key Asian markets into retreat yesterday, but the overall picture was mixed as investors drew breath after recent heavy losses.

Bush calls on Singapore PM

Bush calls on Singapore PM SINGAPORE (DPA): Former United States President George Bush called on Singapore Prime Minister Goh Chok Tong in Singapore yesterday, officials in the island republic said.Bush was in Singapore overnight on a private visit, according to a U.S. Embassy spokesman.

SCB names new executive

SCB names new executive SINGAPORE (Dow Jones): Standard Chartered Bank (SCB) has appointed Lee Boon Huat, 40, as regional head of treasury for Southeast Asia.Lee succeeds Mike Rees, who remains in Singapore to run the treasury business for the entire Standard Chartered Group.

Indofood's profit plunges

Indofood's profit plunges JAKARTA (JP): Publicly listed PT Indofood Sukses Makmur, the world's largest noodle maker, reported yesterday a 70 percent decline in net profit in the first quarter this year from the same period last year.The figure of Rp 28.29 billion (US$2.

Insured victims of riots may not get their money: Brokers

Insured victims of riots may not get their money: Brokers JAKARTA (JP): The Association of Indonesian Insurance Brokers (ABAI) hailed the Insurance Council of Indonesia's decision to approve payments to victims of the recent rioting, but warned that a banking clause in some policies may prevent the...

Women's crisis center

Women's crisis center In various recent happenings, mainly since security forces took repressive measures against reform activists on student campuses and other places, social, economic and political impacts of a detrimental nature have been strongly felt in the marginal community.

A questionable show

A questionable show President B.J. Habibie has been surprisingly generous to the foreign media. If it were only so with the local news media as well.Habibie's recent statement to The New York Times saying that he had a better feel for the younger generation than his predecessor, Soeharto, sounds a...

Rights body to probe Aceh 'mass killings'

Rights body to probe Aceh 'mass killings' JAKARTA (JP): The National Commission on Human Rights will soon begin investigating reports that more than 39,000 Acehnese have died in various military operations over the past decade and that 1,000 others are still in military detention in Indonesia's...

Habibie not elected

Habibie not elected I wonder where Mr. Muhd. Ramzy Hasibuan was on May 20 and May 21 (President Habibie's legitimacy, Your Letters, June 4) when news started swirling about that Soeharto was going to step down, culminating in Habibie's rise to the presidency. Habibie was not elected, Mr.

SEAB customer's complaint

SEAB customer's complaint JAKARTA (JP): A customer of South East Asian Bank (SEAB), which was liquidated last November, has complained about the difficulty in recovering a large part of her savings from the bank.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on June 4, 1998: Buying Selling Rp Rp U.S. dollar 1 11.100.00 12,000.00Austrian shilling 1 866.20 1,001.70Australian dollar 1 6,798.40 7,349.30Belgian franc 1 306.30 329.10Canadian dollar 1 7,681.

Governor suspends several megaprojects

Governor suspends several megaprojects JAKARTA (JP): The city administration has been forced to suspend a number of major development projects included in the 1998/1999 budget because of the prolonged monetary crisis, Governor Sutiyoso said.

12 officers killed in E. Timor helicopter crash

12 officers killed in E. Timor helicopter crash JAKARTA (JP): The Udayana Regional Military Commander, Maj. Gen. Yudomo Sastrosuhardjo, and Col. Salamat Sidabutar, the chief of the Wira Dharma Military Command in East Timor, were killed yesterday when their helicopter crashed near Liaruca village...

Analysts, investors hail RI debt deal

Analysts, investors hail RI debt deal LONDON (Reuters): Analysts and investors mostly hailed the agreement on the debt rescheduling signed by Indonesia and international banks in Frankfurt yesterday.The rescheduling program comprises three initiatives relating to private sector corporate debt,...

Bogor police to release Juanda students today

Bogor police to release Juanda students today BOGOR (JP): The police will release three Juanda University students this morning after detaining them for almost a month on charges of allegedly mobbing to death a senior officer.Speaking on behalf of the Bogor Regional Police chief, deputy chief Lt.

Local environment is never given enough attention

Local environment is never given enough attention The World Environment Day, which falls today, is a reminder of the need to protect the environment. Below is a series of articles in commemoration of the day.

'Si Doel' named as Unicef ambassador

'Si Doel' named as Unicef ambassador JAKARTA (JP): Actor and director Rano Karno was declared Indonesia's first national ambassador for the United Nations Children's Fund (Unicef) yesterday.Rano, 38, a member of the People's Consultative Assembly, received the honorary title from Coordinating...

Emil urges Habibie to hold poll in December

Emil urges Habibie to hold poll in December JAKARTA (JP): Leading opposition figure Emil Salim has announced his withdrawal from a presidential consultative group formed by President B.J. Habibie, and demanded that a general election be held by December.

RI, creditors strike private debt deal

RI, creditors strike private debt deal FRANKFURT (Reuters): The Indonesian debt negotiation team and the country's creditor banks said yesterday they had reached agreement on a comprehensive program to address Indonesia's external debt problems.

Togolese caught with 8.6kg of heroin

Togolese caught with 8.6kg of heroin JAKARTA (JP): Customs officers at Soekarno-Hatta International Airport have arrested a 30-year-old Togolese for allegedly smuggling 8.6 kilograms of first-grade opium alkaloid into the country inside a 21-inch television set, an official said yesterday.

FIA cancels Indonesia Rally

FIA cancels Indonesia Rally PARIS (AP): The world governing body of motor sports Wednesday dropped the Rally of Indonesia from the 1998 race calendar.The FIA, in a short statement, said it had withdrawn the September rally from the schedule because of "the current situation in Indonesia and...

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on June 4, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 425 0 0 AHAP Insurance 550 0 0 Alter Abadi 600 0 848,500 Alumindo Light Metal 400 125 1,418,000...

Stable rupiah crucial for China: ADB chief

Stable rupiah crucial for China: ADB chief HELSINKI (Reuters): Asian Development Bank (ADB) president Mitsuo Sato said yesterday that stabilizing the Indonesian rupiah and other Asian currencies was key to relieve devaluation pressures in China.

New deal on debt talks revive market sentiment

New deal on debt talks revive market sentiment JAKARTA (JP): A fresh deal on restructuring the country's US$80 billion private-sector debt brought fresh hope to Indonesia's battered financial market yesterday.

Ministry to speed up textile quota sharing

Ministry to speed up textile quota sharing JAKARTA (JP): The Ministry of Industry and Trade said yesterday it would speed up the allocation of new export quotas for textile and textile products.The ministry's export director, Sudar, said yesterday the early allocation of new quotas was aimed at...

The complication of managing the Earth's atmosphere

The complication of managing the Earth's atmosphereBy Bambang Hidayat BANDUNG (JP): Our comforting belief that the earth's climate was essentially unchanged through the ages has been shot down. Meteorological data compiled over the past century, augmented by recent findings from space observation...

UN declares war on Indonesian forest fires

UN declares war on Indonesian forest fires SINGAPORE (AP): Wartime resources are needed to put out the remaining Indonesian forest fires, but there is still a good chance of new fires and more haze over Southeast Asia, a senior United Nations official said yesterday.

'SCTV' schedules 54 hrs of W. Cup

'SCTV' schedules 54 hrs of W. Cup JAKARTA (JP): Private station SCTV will air 54 hours of World Cup soccer from June 10 to July 12.Uki Astama, SCTV's spokesman told The Jakarta Post yesterday that the 54 hours of World Cup soccer from France were wrapped up into one package called Gempita Piala...

Tadjus deplores councilors' harsh attack on Sutiyoso

Tadjus deplores councilors' harsh attack on Sutiyoso JAKARTA (JP): Head of Golkar's Jakarta chapter Tadjus Sobirin yesterday responded harshly to criticism by several city councilors over Governor Sutiyoso's plans to remove collusion, corruption and nepotism from the city administration.

Political changes hurt sports bodies

Political changes hurt sports bodies JAKARTA (JP): Indonesian sports are feeling the pinch of financial shortages due in part to their heavy dependence on the patronage of former president Soeharto's families and cronies, a sports executive said yesterday.

Medan fares hiked

Medan fares hiked MEDAN, North Sumatra: The North Sumatra provincial administration has decided to raise public transportation fares following the government's decision to raise fuel prices last month.The fare for city minivans was raised from Rp 350 (3 U.S.

Tanah Abang area again hit by clashes

Tanah Abang area again hit by clashes JAKARTA (JP): At least two youngsters were severely injured in two separate clashes between Betawi (native Jakartan) residents of Kebon Melati and occupants of the Mess Cendrawasih boarding house from Irian Jaya in Tanah Abang, Central Jakarta, yesterday...

Open bid planned for Krakatau's shares

Open bid planned for Krakatau's shares JAKARTA (JP): The government is to invite international bidders to buy part of the country's largest steel producer, PT Krakatau Steel, next week, State Minister of the Empowerment of State Enterprises Tanri Abeng said yesterday.

Group to looks into reports of sexual abuse during riots

Group to looks into reports of sexual abuse during riots JAKARTA (JP): Women's rights group Mitra Perempuan said yesterday it would conduct its own inquiry into numerous reports of sexual abuse of women during the rioting last month.

Uncaring project boss imprisoned

Uncaring project boss imprisoned KENDARI, Southeast Sulawesi: The Kendari State Court sentenced Mursalim Kasri to two years in jail yesterday after finding him guilty of manipulating Rp 63 million (US$5,478) disbursed by a Canadian aid group.

Some Soeharto-linked firms to keep Pertamina contracts

Some Soeharto-linked firms to keep Pertamina contracts JAKARTA (JP): State oil and gas company Pertamina said yesterday it would maintain its contracts with former president Soeharto-linked contractors and suppliers, provided they were efficient and the government allowed them to continue their...

Activist gives public account of abduction

Activist gives public account of abduction JAKARTA (JP): Disappeared activist Rahardjo Waluyo Djati became yesterday the third person to publicly recount his kidnapping, which featured torture and interrogation about his political activities and links.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Cartoon: Tom and Jerry Kids 3:05 Social Program: Harmoni Kehidupan 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 Country:...

Joseph Estrada shown secrets of new home

Joseph Estrada shown secrets of new home MANILA (Reuters): Incoming President Joseph Estrada was shown the palace yesterday which will be home for the next six years, including a disco and secret passages to escape rebel attacks and pestering journalists.

Educational reform

Educational reform In relation to the present social condition, I would like to suggest the following:a. Many people have lost their jobs because of the monetary crisis and the recent shop burning and looting, which has forced many businesses to close down.

Thai exporters resume Indonesian rice shipments

Thai exporters resume Indonesian rice shipments BANGKOK (Reuters): Thai rice prices firmed this week as some exporters resumed shipments to Indonesia and Iran began purchasing actively, trade sources said yesterday.

Negative aspects of democracy

Negative aspects of democracy Now that Indonesia is to have a new political system, which will probably be more democratic than the old one, it is worth keeping in mind some general weaknesses of democratic political systems.

Palm oil prices steady

Palm oil prices steady LONDON (Reuters): Further talk in Asia of Indian palm oil tenders coupled with higher Chicago futures overnight supported opening prices on the European vegetable oil market yesterday.

Parents buy school places

Parents buy school places BANGKOK (DPA): The majority of Thai parents pay "tea money," or small bribes, to assure places for their children in prestigious local schools, a poll revealed yesterday in Bangkok.A survey conducted by Rajabhat Institute Suan Dusit showed that 74.

Legal changes needed in new era

Legal changes needed in new eraBy Mulyana W. Kusumah JAKARTA (JP): Soeharto's obsession with political stability is reflected in the current laws on politics.The result is an array of the People's Consultative Assembly (MPR) decrees and legislation tailored to maintain political stability, but...

Business leaders brief Habibie on economic crisis

Business leaders brief Habibie on economic crisis JAKARTA (JP): Business leaders briefed President B.J. Habibie yesterday on the critical condition of the economy and called for more concerted efforts to revive the banking industry, the source of lifeblood for economic activity.

Curtail on-campus politics: Habibie

Curtail on-campus politics: Habibie JAKARTA (JP): President B.J. Habibie has told university rectors to facilitate campaigns for reform but to prevent campuses being turned into political arenas."I am calling on the minister of education and culture (Juwono Sudarsono) and the director of tertiary...

Govt to review all rice import procurement deals

Govt to review all rice import procurement deals JAKARTA (JP): The government is to review the country's rice import arrangements, including the overseas procurement contracts signed by the State Logistics Agency (Bulog), in anticipation of a declining supply in the international market.

La Nina on the way

La Nina on the way SINGAPORE (Reuters): A "fairly strong" La Nina is likely to bring heavy rains and possible floods to Southeast Asia, much of it parched for more than a year by El Nino, Singapore weather forecasters said yesterday.

Shareholders meeting of ailing Sempati Air delayed

Shareholders meeting of ailing Sempati Air delayed JAKARTA (JP): Sempati Air's shareholders meeting scheduled yesterday to decide the future of the ailing private airline was canceled because many of the shareholders could not attend.

Govt launches drive to combat corruption

Govt launches drive to combat corruption JAKARTA (JP): The government says it is launching tough measures to combat corrupt and collusive practices in the bureaucracy in a bid to provide the public better services and to create a clean administration.

54 hectares of rice fields flooded

54 hectares of rice fields flooded TANGERANG (JP): About 54 hectares of paddy fields, which were ready for harvest, in Tiga Raksa and Cisoka districts, were inundated Wednesday after the nearby Cipayaeun and Manceri rivers burst their banks.

3 men wounded in taxi robberies

3 men wounded in taxi robberies JAKARTA (JP): Three people were injured and Rp 34 million in cash stolen in separate armed robberies on Monday and Tuesday, police said.Jakarta Police spokesman Lt. Col. E. Aritonang said one of the incidents took place on Tuesday in Cipinang Muara, East Jakarta.