Indonesian Political, Business & Finance News

Archive: 10 July 1998

48 articles found

Fresh violence hits Lagos over Abiola's death

Fresh violence hits Lagos over Abiola's death LAGOS (Reuters): Fresh violence erupted yesterday in Lagos, Nigeria's largest city, over the death in detention of opposition leader Moshood Abiola, witnesses said.

Golkar should follow reform spirit: Habibie

Golkar should follow reform spirit: Habibie JAKARTA (JP): President B.J. Habibie yesterday told the dominant Golkar political organization to follow the reform spirit if it wanted to prevail in the country's political arena.

Mt. Merapi spews lava

Mt. Merapi spews lava YOGYAKARTA: Mount Merapi showed increased activity yesterday, spewing hot lava in a radius of 1.5 kilometers from its cone.Despite the rumblings, the daily activities of people living in villages at the foot of the volcano were unaffected.

Race for Golkar's top post narrows to Akbar and Edi

Race for Golkar's top post narrows to Akbar and Edi JAKARTA (JP): The election for Golkar's top post effectively became a two-man race between Minister/State Secretary Akbar Tandjung and former defense minister Edi Sudradjat as delegates at Golkar's extraordinary congress initiated public...

Credit card holders advised to be thrifty

Credit card holders advised to be thrifty JAKARTA (JP): Credit card holders have been strongly advised to use their cards carefully while the monetary crisis continues to avoid running up large debts.Those who do not yet own a credit card have been urged not to apply unless the card is essential...

ADB agrees $302.9m aid package for RI

ADB agrees $302.9m aid package for RI MANILA (Reuters): The Asian Development Bank (ADB) said yesterday it had approved a package of US$300 million in loans and $2.9 million in technical assistance grants to help the poor in crisis-hit Indonesia.

Where to go in Surabaya,

Where to go in Surabaya,Exhibition * Poster Exhibition: World Cup '98, at CCF - French Cultural Center, Jl. Darmokali 10 (Phone: 031-5678639), 9 a.m. to 8:30 p.m., until July 13.Music and Entertainment * Hyatt Regency Surabaya, Jl. Jend.

Foreign firms ask for increased security

Foreign firms ask for increased security JAKARTA (JP): Foreign business leaders meeting with President B.J. Habibie yesterday said they wanted to see greater security for their operations and more economic incentives.

TV today

TV todayTVRI 12:15 p.m. World Cup Soccer (rerun) 2:00 News: Berita 14 2:30 Music 2:35 Children's Film: Tom and Jerry Kids 3:05 Music Lessons: Ansamble Alat Tiup 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Educational Quiz: Cerdas Cermat 6:00...

Indonesia seeks additional $4b to $6b in new loans

Indonesia seeks additional $4b to $6b in new loans NEW YORK (Agencies): Indonesian officials said Wednesday that they will seek an additional US$4 billion to $6 billion in new loans from international banks and expressed confidence that they would get it.

Robber stabs housemaid

Robber stabs housemaid JAKARTA (JP): A 17-year-old housemaid was stabbed in the stomach during a robbery in the residence of her employer's daughter in Binamarga housing complex in Kranji, Bekasi, yesterday afternoon.

Soeharto says he is willing to be investigated

Soeharto says he is willing to be investigated JAKARTA (JP): Former president Soeharto has challenged any one accusing him of stashing funds abroad to come up with evidence."I don't own a single bank account abroad," Soeharto said in a news release issued by Dharmais, one of the foundations he...

Landslide disrupts telephone lines

Landslide disrupts telephone lines JAKARTA (JP): A landslide on July 4 has disrupted more than 1,000 telephone lines in East Jakarta and Bogor, state telecommunications company PT Telkom said yesterday.The head of the East Jakarta office, Laode M.

Irian Jaya, E. Timor different: Downer

Irian Jaya, E. Timor different: Downer JAKARTA (JP): Australian foreign minister Alexander Downer maintained yesterday that the problems surrounding Irian Jaya could not be paralleled to the issue of East Timor.

Councilors urge govt to sell stakes in umprofitable firms

Councilors urge govt to sell stakes in umprofitable firms JAKARTA (JP): Councilors are intensifying their pressure on the governor to sell city shares in nonperforming private companies and use the money to keep the administration going in the crisis.

One dies in landslide

One dies in landslide DEMAK, Central Java: A man died and another was seriously injured in a landslide yesterday in Mranggen, some 10 km east of the provincial capital of Semarang.Antara reported that the landslide occurred when the two men, along with 10 others, were quarrying sand in a...

Zeneca exports pesticides

Zeneca exports pesticides JAKARTA (JP): PT Zeneca Agri Products Indonesia, a subsidiary of British pesticide producer Zeneca, announced yesterday that it has exported 10 containers of pesticides worth US$2.2 million to China and Malaysia over the last two months.

10,000 workers plan massive strike for wage increase

10,000 workers plan massive strike for wage increase JAKARTA (JP): More than 10,000 workers from 14 companies in Greater Jakarta are to strike until the government meets their demand for a 100-percent rise in the regional minimum wage, their spokesman said yesterday.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 9, 1998: Buying Selling Rp Rp U.S. dollar 1 14,750.00 15,750.00 Austrian shilling 1 1,089.50 1,242.40 Australian dollar 1 8,890.10 9,501.70 Belgian franc 1 384.80 408.

33 injured in PDI Medan office takeover

33 injured in PDI Medan office takeover MEDAN, North Sumatra (JP): At least 33 people were injured yesterday when 300 supporters of Soerjadi retook the Indonesian Democratic Party (PDI) branch office here from loyalists of Megawati Soekarnoputri.

Constitution needs reviewing

Constitution needs reviewing An article by Romo Mangun (noted intellectual), Toward an all brand new Indonesia (Kompas, June 4, 1998)), can broaden our horizons of thought in that the 1945 Constitution is not absolute and that it may be subject to revision.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 9, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 375 0 0 AHAP Insurance 575 0 0 Alter Abadi 500 25 50,000 Alumindo Light Metal 325 0 35,000 Alumindo Perkasa...

General tussles with old personal attachment

General tussles with old personal attachmentBy Mochtar Buchori JAKARTA (JP): In his latest statement on his links with Soeharto, Gen. Wiranto said the relationship was "cultural" and not "structural". It is therefore untrue to say that he still receives and carries out orders from the former...

Wet season may last till March: BMG

Wet season may last till March: BMG JAKARTA (JP): With last year's prolonged El Nio-induced dry spell still fresh in people's minds, scientists now warn that the country could face an extended wet period lasting through March.

S. Korea to boost spending

S. Korea to boost spending SEOUL (DPA): South Korea plans to up state spending by six trillion won (US$4.6 billion) to stimulate its battered economy and support the growing number of people without jobs, a supplementary proposal from the Seoul government published yesterday said.

Warnings on Asian recessions no surprise, worse expected

Warnings on Asian recessions no surprise, worse expected SINGAPORE (Reuters): Dire government warnings in Asia this week about recessions and slowing growth surprised few, unless it was the policy makers themselves, economists and analysts said yesterday.

Economists says small businesses face uncertainty

Economists says small businesses face uncertainty JAKARTA (JP): Small businesses will continue to lag behind in the country's economy as they lack the capacity and opportunities to grow and prosper, economist Sri Mulyani said yesterday.

ASEM Trust Fund set up

ASEM Trust Fund set up BRUSSELS (Reuters): The World Bank and European donors to a trust fund set up in response to the Asian economic crisis came close to identifying the first projects the fund will assist, officials at a meeting in Brussels on Wednesday said.

Indovision: A world of joy

Indovision: A world of joy On July 1, we discovered that Indovision had cut our satellite connection. First we believed that our monthly payment had arrived too late. However, that was not the case as all of our friends who have Indovision connected had the same problem.

Wood shavings head for Osaka in fashion contest

Wood shavings head for Osaka in fashion contestBy Izabel Deuff JAKARTA (JP): Is there hope that the crisis could be a challenging source of creativity, rather than applying the brakes on the Indonesian fashion momentum?The Association of Indonesian Fashion Designers and Manufacturers (APPMI) wanted...

Hanke says stable rupiah key to stability in Indonesia

Hanke says stable rupiah key to stability in Indonesia SINGAPORE (Dow Jones): Johns Hopkins University economist Steve Hanke warned yesterday that without stabilization of the rupiah, Indonesia could expect continued political turmoil and a greater trend toward use of the U.S.

Police arrest two alleged members of wanted gang

Police arrest two alleged members of wanted gang JAKARTA (JP): City Police detectives have arrested two members of the most wanted gang in the capital which has allegedly committed 120 armed robberies in the past four years in Java and Sumatra.Deputy chief of the Jakarta Police Detective Unit Lt.

That small formal thing

That small formal thing If asked about basic rights we have to admit that we have very little to be proud of, and two days ago we were reminded that in another crucial area of fundamental rights -- the rights of children -- Indonesia ranks below many other countries in the region.

Thousands look to work abroad

Thousands look to work abroad CILACAP, Central Java: More than 2,000 graduates of senior high schools in Cilacap and its surrounding areas have registered with several labor export companies in the city to work overseas.

Rights body blames govt for gang rapes

Rights body blames govt for gang rapes JAKARTA (JP): The National Commission on Human Rights put the blame squarely on the government yesterday for the rampant rapes and sexual assaults during riots in Jakarta and other cities in May, denouncing its attitude toward the victims as "insensitive".

Preacher summoned on mid-May riots

Preacher summoned on mid-May riots JAKARTA (JP): The police have summoned Anton Medan, a former convict turned Moslem preacher, for questioning Monday on suspicion of his involvement in the mid-May riots in the city.City police spokesman Lt. Col. E.

Bogasari discounts importing wheat

Bogasari discounts importing wheat JAKARTA (JP): PT Bogasari Flour Mills has no plan to directly import wheat despite the removal of the import restriction on the commodity, its director said here yesterday.

Rally staged against govt 'becak' ban

Rally staged against govt 'becak' ban JAKARTA (JP): About 150 people staged a protest outside the City Hall yesterday to demand that the governor allow pedicabs to operate in the capital.Pedicab drivers, activists and residents demanded that the city administration review the 1988 ordinance...

Asian currencies ease along with yen

Asian currencies ease along with yen SINGAPORE (Reuters): Asian regional currencies eased along with the yen yesterday with the dollar moving back above 140 as speculative bids triggered stop-loss buys above that level.

Garuda may stop European flights

Garuda may stop European flights JAKARTA (JP): National flag carrier Garuda Indonesia is considering reducing or stopping its remaining flights to Europe in a cost-saving measure, an airline official said yesterday."Garuda is currently reevaluating the European routes.

Jail for drunk who wrecked phone

Jail for drunk who wrecked phone BOGOR (JP): Bogor District Court sentenced a man to two months in prison Wednesday for demolishing a pay telephone in February while he was drunk.Presiding judge Sri Koestati said the defendant, Mangontang Hutasoit, 29, and his friend, identified as Robin Manalu,...

Scholarships may be stopped

Scholarships may be stopped JAKARTA (JP): Many postgraduate students at the Bogor Institute of Agriculture fear their future studies may be in doubt as rumors are rife that the government will suspend their scholarship due to the economic crisis.

S'pore-based grain traders await Indonesian tenders

S'pore-based grain traders await Indonesian tenders SINGAPORE (Reuters): It may take a long time for cash-trapped Indonesia to issue tenders for soybean or wheat imports, traders said yesterday.And as corn demand from Malaysia continued to decrease and unstable weather triggered port loading...

Rising political tension pushes rupiah down again

Rising political tension pushes rupiah down again JAKARTA (JP): The rupiah lost further ground against the U.S. dollar yesterday in tandem with the rising political temperature and stock prices continued their decline on profit taking.

S&P reaffirms Indonesian rating, outlook negative

S&P reaffirms Indonesian rating, outlook negative NEW YORK (Dow Jones): Standard & Poor's said it affirmed its triple-C-plus rating on Indonesia's US$400 million Yankee bond due 2006.Also, S&P said it affirmed its triple-C-plus long-term foreign currency and its single-B-minus long-term local...

Freeing of political detainees

Freeing of political detaineesFrom RepublikaThe euphoria of reform continues. In keeping with that spirit the government -- through the justice minister -- has set free and granted clemency to political detainees and prisoners.

Navy discovers 24 sea mines

Navy discovers 24 sea mines SURABAYA, East Java: The Navy has discovered 24 sea mines buried in deep mud in the waters of Ujung Pangkah subdistrict in Gresik, west of here."These mines were placed by Japanese troops and the Allied Forces (during World War II)," spokesman for the Navy's Eastern...

Hookers embarrass governor

Hookers embarrass governor JAKARTA (JP): Riau Governor H. Soeripto has admitted that he is often embarrassed to stay at hotels in the province's outlying islands of Batam, Bintan and Karimun because they were often "infested" with prostitutes looking for potential customers.