Indonesian Political, Business & Finance News

Archive: 10 July 1998

48 articles found

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. Paulus Agus Winarso, head of the forecasting and service division at the national Meteorology and Geophysics Agency (BMG) here said an extended wet season was likely due to a La Nina weather phenomenon which is most easily described as the opposite of El Nio.

General tussles with old personal attachment

General tussles with old personal attachment By 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 president. He added that, as an Oriental, he is bound by oriental values and traditions which, among other things, require a younger person to show reverence toward the elderly.

Stock Exchange

Stock Exchange Stock 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 200 0 0 Aneka Kimia Raya 225 0 50,500 Aneka Tambang 2,000 50 20,046,000 Anwar Sierad 125 25 10,500 Apac Centertex Corp.

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. Historically speaking, the founding fathers of our nation intentionally made it very flexible in view of the emergency then prevailing. Our fault is that we have seemingly sanctified the Constitution. We have considered it a sort of God.

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. Supporters of the ousted PDI leader Megawati Soekarnoputri, who took control of the office last month, put up a fierce resistance, defending themselves with sticks, stones and knives.

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.

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.

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. The company's vice president for manufacturing, Etty Indrawati Lukman, said that it exported its Matador pesticide to China under a brand name of Kungfu.

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 mountainous area near their village. The two victims were found when villagers used a crane to move earth from the site of the landslide.

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. They slammed Wednesday the Sutiyoso administration for withholding information on the number and performance of private companies in which it has shares.

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. "It's a vast leap of logic to suggest that the unfortunate incidents and political environment in Irian Jaya have the same political environment as East Timor. I don't think you could automatically draw that conclusion," he said in response to questions at a news briefing here yesterday.

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. Local newspapers put the death toll in earlier rioting over Abiola's death in the city of eight million at up to 45 people. One television cameraman said he saw a man clubbed to death on a Lagos street on Thursday and his money stolen by a mob.

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 chairs, yesterday "If anyone can find an account under my name abroad, then report 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. Komariah was in a critical condition in Cipto Mangunkusumo Hospital yesterday evening. Her employer, Gardana, said Komariah, who was alone in the house, was stabbed by the robbers when she entered a bedroom to begin cleaning it.

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.

TV today

TV today TVRI 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 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports News 6:30 TVRI News (in English) 7:00 Evening News 7:35 Performance: Ruwatan Adat Bali 8:00 News: Lintasan Berita 8:05 Performance:...

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.

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. Basuki Rakhmat 106-128 (Phone: 031-5311234): - The Tavern Pub: Dewata Band, Monday to Saturday, 9 p.m. to 1:30 a.m., X-Men Band, Sunday 9 p.m. to 1:30 a.m. - Atrium Lounge: Solo Pianist, Monday to Friday, 7 p.m. to 10:45 p.m., Saturday at 7 a.m. to 11 p.m.

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. The Social Protection Sector Development Program will help impoverished people receive education, health, family planning and nutrition, the Manila-based multilateral financial institution said in a statement.

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 and they are determined to use it responsibly.

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 endorsements yesterday for the two candidates. Although other names, such as former ministers Sarwono Kusumaatmadja and Siswono Yudohusodo along with Kosgoro chief Bambang W.

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. Ratdomo Purbo, chief of the volcanic section at the Vulcanologist Directorate, said his office was continually monitoring the volcano, one of Indonesia's most active, since it had shown greater signs of life.

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. Addressing the opening ceremony of Golkar's three-day extraordinary congress, he said the organization should review its historical role since its establishment in 1964.

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. Saleh, said the landslide disrupted telephone lines whose numbers began 870, 871, 872 and 8770.

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.

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 Fleet Command, Lt. Col. Eddy Irawan, said as quoted by Antara. Minesweeping operations were carried out in the area over a two week period by the minesweeper KRI Pulau Rupat.

Freeing of political detainees

Freeing of political detainees From Republika The 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. Sri Bintang Pamungkas and Muchtar Pakpahan were the first to enjoy the sweetness of one of the steps of reform taken. Not long afterward, East Timor anti-integration demonstrators enjoyed the same.

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 currency issuer credit ratings on Indonesia. All ratings are removed from CreditWatch with negative implications where they were placed Jan. 9, S&P said.

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. Analysts said the market was under pressure again ahead of an extraordinary convention of the ruling Golkar grouping, where political intrigues are heightening. Currency dealers said the rupiah sank to a day's low of 15,700 against the U.S.

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 problems in India, traders said they saw no end to the market gloom.

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. Antara reported yesterday that news of the possible suspension of the scholarships was seriously bothering the students, who are mostly employees at government institutions.

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, who were drunk arrived at the scene in Cimanggis on a public minivan at 11 p.m. on Feb. 12. Hutasoit leaned on the pole supporting the telephone and then encouraged Mangontang to demolish it.

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. We may reduce the existing European flights or even stop flying the routes at all," said Pudjobroto, a spokesman for the airline.

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. But traders said dollar/yen and the regional currencies will trade quietly ahead of the weekend and Japan's Upper House elections on Sunday.

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 forbidding the three-wheeled vehicles from plying the capital's streets. Waving large banners and posters, the demonstrators marched for about 500 meters along Jl.

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. The finance ministry plan calls for an increase in this year's budget deficit to around four percent of gross domestic product or up to 17.5 trillion won.

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. Aritonang said Anton would have the chance to explain reports he had a role in the May 13 - May 15 riots.

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".

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. Komaruddin, a local labor broker, said yesterday that the graduates were forced to seek jobs overseas because they had no money to go to universities and it was difficult to find employment at home because of the economic crisis.

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.

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. Col. Bakat Purwanto told The Jakarta Post the two men, identified as Iwan, 32 and Jhoni, 25, were arrested separately here on Wednesday night. "Iwan was arrested at his house in Kelapa Dua, Cimanggis.

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. dollar in the economy, which he said is taking hold throughout the region.

Wood shavings head for Osaka in fashion contest

Wood shavings head for Osaka in fashion contest By 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?

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. We called customer service, however, without any result as they could not be reached (as usual).

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.

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. Sri said the small and medium enterprises (SMEs) would be unlikely to grow into strong industries because the government had not created a strong foundation for their development.

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. The issue now is when the recovery will come and who will be at the head of the pack, they said. Opinion is divided as forecasting in the current economic climate is fraught with uncertainties, analysts said.

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. Franky Welirang argued that importing the wheat grain would be too expensive for the company given the sharp fluctuation of the rupiah.