Indonesian Political, Business & Finance News

Archive: 13 July 1998

45 articles found

Jewelry traders shine amid financial crisis

Jewelry traders shine amid financial crisis JAKARTA (JP): The monetary crisis caused by the fluctuating rupiah has brought nothing but disaster to people running property, automotive or electronic businesses. But it has been a blessing in disguise for the few who do business in secondhand jewelry, especially diamonds and gold, as many people have been forced to sell their possessions to -- among other things -- make up for financial setbacks during the current economic turmoil.

SCB helps orphanages

SCB helps orphanages JAKARTA (JP): Standard Chartered Bank and its employees recently donated Rp 130 million (about US$9,285) to help orphanages in the country as part of its "Peduli" social activity campaign. The bank said in a statement Saturday that the funds were donated to several charity organizations in Jakarta, Bandung, Surabaya, Medan and Semarang. CEO David Hawkins said the funds would be used to support orphans' education. (gis)

'Kowani' demands

'Kowani' demands From Merdeka The damnable, shameful and barbaric actions of a group of people on May 13 and 14 in Jakarta and other cities in Indonesia resulted not only in material losses due to looting and burning, but more seriously, they caused some unfortunate women terrible pain and trauma. Women were raped, burned and murdered, but to date, no serious action has been taken to help the victims or bring the perpetrators of this vile crime to justice.

Golkar changes its vision, image under new chairman

Golkar changes its vision, image under new chairman JAKARTA (JP): Golkar has charted a new vision, changed its charter and severed links with its old powerful boss Soeharto, but it remains in the hands of familiar faces despite a breakthrough in the way it chose its leaders this weekend. For the first time in 32 years, Golkar elected a chairman without blessings from former president Soeharto, the chief of the board of patrons. Akbar Tandjung defeated Gen.

Irian rights agent named

Irian rights agent named JAYAPURA, Irian Jaya: The National Commission on Human Rights has appointed MF Kareth as its local contact person to oversee and receive reports of human rights violations in Indonesia's easternmost province. Kareth's appointment was made official in a letter dated July 7 signed by commission deputy chairman Mariam Budiardjo, Antara reported. He will receive, record and directly check violations of human rights in Irian Jaya.

Golkar's next steps

Golkar's next steps On Saturday the government party, Golkar, elected Akbar Tandjung, who is President B. J. Habibie's powerful minister/state secretary, as its new chairman. He replaces Harmoko, who led the party during the last five years when it served little purpose beyond being former president Soeharto's general election machinery.

Golkar names new executive board

Golkar names new executive board JAKARTA (JP): New Golkar chairman Akbar Tanjung has expanded the group's central executive board to 138 members from 45 previously. The following is the line up as announced Saturday: Chairman: Akbar Tanjung Deputies (13): Agung Laksono, Theo L. Sambuaga, Fahmi Idris, Adi Sasono, Abdul Gafur, Freddy Latumahina, Aulia Rahman, Yudhono Irsyad Sudiro, Effendi Yusuf, Marwah Daud Ibrahim, Sri Rejeki Sumaryono, Slamet Effendi Yusuf, Rambe Kamarul Zaman.

Troubled Asia strives for more funding

Troubled Asia strives for more funding HONG KONG (Reuters): Asia's most crippled economies are widening budget deficits in a bid to stimulate domestic demand and head off social unrest -- but funding some of those deficits could require fresh international loans. All the countries operating under guidance from the International Monetary Fund -- Thailand, South Korea and Indonesia -- are expected to report budget deficits this year, even though balanced budgets were once a condition of IMF aid.

Akbar not to resign cabinet post

Akbar not to resign cabinet post JAKARTA (JP): Rather than relinquish his post as minister/state secretary, Golkar's newly elected chairman Akbar Tandjung said he had asked for an assistant to ease his workload as a Cabinet minister. "I have proposed the appointment of a state secretary deputy to coordinate all state secretariat internal affairs matters of which I am no longer much involved in on a daily basis anyway," Akbar told journalists after accompanying President B.J.

Palm oil prices close the week higher

Palm oil prices close the week higher LONDON (Reuters): Palm oil prices ended the week higher on the European vegetable oil market on Friday. Trade talk that the Indonesian government has set a base price for the palm oil export tax has been rumored for a few days and had no impact. Traders said the Indonesian government has set a base price of $610 a ton for crude palm oil and $640 a ton for olein both prices are valid for the period July 8 to August 8.

Pancasila as a uniting tool

Pancasila as a uniting tool With the continuous rise in value of the U.S. dollar against rupiah, people seem to be screaming as the prices of basic necessities skyrocket. When will this situation end? There is no sign that the country's economic condition will improve. On the contrary, our economy seems to be on the brim of bankruptcy. Let us think with a clear mind and ponder the history of the birth of our republic when Bung Karno proclaimed Indonesia's independence on Aug. 17, 1945.

Golkar's vision easier said than accomplished: Analysts

Golkar's vision easier said than accomplished: Analysts JAKARTA (JP): Golkar, the dominant political organization in Indonesia for the past 32 years, may have charted a new vision to fit with a reformed Indonesia, but its own survival hinges on its ability to match words with deeds, observers said yesterday. In the past, given its strong political grip, Golkar got away with making big promises without having to keep them. Now, its very existence depends on meeting its promises.

International mergers and acquisitions plunge in Asia

International mergers and acquisitions plunge in Asia LONDON (Reuters): Mergers and acquisitions by international companies in Asia has fallen dramatically due to the continuing financial crisis in the region, according to a survey released by advisory group KPMG Corporate Finance today.

Three injured in helicopter mishap

Three injured in helicopter mishap JAKARTA (JP): A helicopter operated by PT Derazona Air Service made an emergency landing after engine failures at a swampy area near the heavily-packed Pinang Ranti residential area at Kampung Makassar in East Jakarta yesterday morning, an official said. No fatalities were reported while the pilot and two engineers of the Bell-206 helicopter suffered slight injuries, East Jakarta Police chief Lt. Col. Syahrir Kuba told The Jakarta Post.

Observers blast Golkar's new bureaucrat lineup

Observers blast Golkar's new bureaucrat lineup JAKARTA (JP): Observers have blasted Golkar's huge executive lineup, saying it was comprised of people affiliated to the government and that it was too big thus making it too cumbersome to meet with the swift challenges of the future. "Just look at the lineup, it is still government-oriented," social observer Mochtar Buchori told The Jakarta Post yesterday.

Marcos burial to end controversy

Marcos burial to end controversy MANILA (DPA): President Joseph Estrada urged the family of late dictator Ferdinand Marcos yesterday to carry on with plans to bury the former chief executive in his hometown in the northern Philippines, scrapping a controversial interment at a heroes cemetery.

Glodok traders set to get new home at Gambir market

Glodok traders set to get new home at Gambir market JAKARTA (JP): Gambir market at Kota Baru Bandar Kemayoran in Central Jakarta is set to be the new home for electronic and computer traders from Glodok whose shops were destroyed during the May riots. Faizal Motik, an official in charge of overseeing the relocation of traders from the city's Chinatown, said in a media briefing Saturday that registration would open today.

Jakarta market mixed on looming uncertainties

Jakarta market mixed on looming uncertainties JAKARTA (JP): The rupiah will remain weak this week, while the Jakarta Stock Exchange will see more buying activities after profit taking ruled the market last week, according to some analysts. They said the rupiah was likely to trade at about 15,000 this week despite news that the International Monetary Fund (IMF) would disburse US$1 billion out of $43 billion bailout money it had arranged for Indonesia.

Cash-strapped Manila seeks Marcos millions deal

Cash-strapped Manila seeks Marcos millions deal By Claire Wallerstein MANILA: The Philippines government, crippled by the Asian currency crisis, is hoping to bail itself out by striking a controversial deal with the family of Ferdinand Marcos to share the late dictator's illegally hoarded millions. The country's new president, former screen idol Joseph Estrada, is desperately in need of funds to make good on his election campaign promises to help the country's 35 million poor.

Handling of corruption

Handling of corruption According to a July 8 report in The Jakarta Post, the special post office box (PO Box 0008) recently established to handle complaints from the public about official corruption has been effective. Most of the complaints have been about demands for payoffs by government officials. However, Deputy Governor Abdul Khafi has said that results of investigations against officials will not be made public because the officials should not be exposed.

Attracting dollar without risk

Attracting dollar without risk By C.J. de Koning This is the first of two articles on the Indonesian monetary crisis. JAKARTA (JP): Prominent economist Prof. Dr. Soemitro Djojohadikoesoemo called recently for a lowering of rupiah interest rates because the current rates of over 58 percent are stifling the local economy. Former minister of finance Mar'ie Mohammad also recently called for a reintroduction of a managed floating exchange rate for the rupiah against the U.S. dollar.

Captive audience

Captive audience During this year's school summer vacation, we have friends and their children staying with us. After dinner on Wednesday, after the children were given permission to watch a feature film to be broadcast by Indonesian TV because, after reading the brief description of the film in The Jakarta Post, the parents agreed that it was suitable for the children. Meanwhile, we adults continued to sit on the terrace outside the house.

Euro bankers cautiously upbeat on RI debt plan

Euro bankers cautiously upbeat on RI debt plan FRANKFURT (Dow Jones): German and Dutch bankers expressed cautious optimism about Indonesia's debt-restructuring plans Friday after attending the Frankfurt leg of a roadshow for the program. "The initial indication is that the program will get a high percentage of participation, at least from banks that attended this session," a banker with Deutsche Girozentrale in Frankfurt told Dow Jones Newswires after the meeting.

ERP can help boost business efficiency

ERP can help boost business efficiency By Zatni Arbi JAKARTA (JP): You are the CEO of a very large company. Your annual sales topped US$2 billion last year. You have invested millions of dollars in computers and network infrastructure. You have trained all your employees to use the latest software. So how come you have not seen the productivity boost you expected from such a huge investment?

Mt Merapi quieter but danger remains

Mt Merapi quieter but danger remains YOGYAKARTA (JP): Aside from a few minor tremors and rumblings, Mount Merapi was generally quieter yesterday compared to several powerful eruptions occurring Saturday. The government has eased the warning for areas at the slope and foot of the volcano from full alert, the highest level requiring people to evacuate, to high alert, requiring people to be prepared to flee at short notice.

Police expel German TV team from Irian

Police expel German TV team from Irian JAKARTA (DPA): Irian Jaya Police have ordered a German public- television team out of the country, the head of the three-man group said Saturday by telephone from Jayapura. They had been filming in Irian Jaya where there were demonstrations this week demanding independence and the flag of a separatist group was raised before the soldiers broke up the protests.

Empower village economy: Minister

Empower village economy: Minister SUKOHARJO, Central Java (JP): "Empower the village economy." That has been the calling cry of officials and experts as a possible answer to the economic crisis. In Karanganyar village, Weru subdistrict, State Minister of National Development Planning/chairman of the National Development Planning Board Boediono reiterated over the weekend this urgent need as he kicked-off a World Bank-sponsored program for this purpose.

Magic massages for healthier babies

Magic massages for healthier babies JAKARTA (JP): Here are some tips from a seminar on massaging babies: 1. Start with soft, gentle touches and slowly increase the pressure of your strokes. 2. Pay attention to the baby's reactions. A baby has his or her own favorite strokes. 3. Maintain eye contact. Smile, talk or sing to your baby during the process. 4. Do five to six repetitions of each kind of stroke -- each of which should take five to six seconds to complete. 5.

President reminds people of cooperatives mission

President reminds people of cooperatives mission JAKARTA (JP): Commemorating the 51st anniversary of the country's Cooperatives Day, President B.J. Habibie reiterated once again the theme that cooperatives are the country's economic backbone. Habibie said the development of cooperatives was not only mandated by the Constitution but cooperatives themselves had proved that they were much stronger in facing the economic crisis than big private or even state companies.

Freeport copper smelter project still on track

Freeport copper smelter project still on track JAKARTA (JP): Copper and gold producer PT Freeport Indonesia has said development of a US$626 million copper smelter plant in Gresik, East Java, which it partly owns, is running on schedule despite political and economic turmoil. Freeport's executive vice president and chief financial officer Stephen Jones said Friday trial production at the plant would begin next month, with commercial production scheduled in December.

Govt plans to demote four school principals

Govt plans to demote four school principals JAKARTA (JP): The city administration is keeping its promise of taking punitive measures against school headmasters charging parents fees for various reasons without the city's consent. The head of the city office of education and culture, Alwi Nurdin, said Saturday that four public school principals would be demoted to ordinary teachers. He said they created illegal fees or charged compulsory contributions higher than levels the government had set.

Man killed, sign in blood found on floor

Man killed, sign in blood found on floor JAKARTA (JP): A 61-year-old man was found dead in his living room Saturday afternoon with a sign written in blood on the floor near his body reading: A from Nusakambangan. Zainuddin's body was found at his residence at Jl. Batu Sari II/74, Kramat Jati in East Jakarta with a severe wound to his head and his hands and feet bound with thin rope. Capt.

McDonald's closes 20 outlets

McDonald's closes 20 outlets JAKARTA (JP): McDonald's Indonesia has temporarily closed 20 of its 101 outlets nationwide due to the economic crisis and the recent widespread riots. Company president Bambang H. Rachmadi said over the weekend the crisis had resulted in the declining purchasing power of local consumers and the rupiah's sharp depreciation tripled prices of its imported raw materials. Six of its outlets were destroyed in massive riots which hit the country in May.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:35 TV Series: The Big Valley 3:05 Environment: Koridor Hijau Berkicau 3:30 TV Drama: Pesona Diri 4:00 Regional News 4:30 Creative Program: Karya Kita 5:00 Indonesian Lessons 5:30 Education Quiz: Tangkas Cermat 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports: Monitor Olah Raga 6:30 TVRI News (in English) 7:00 Evening News 7:35 Music: Gelar Musik Remaja 8:00 News: Lintasan Berita 8:05 Music: Gelar Musik Remaja (contd.) 8:30 Belief...

Malaysia raps S'pore papers

Malaysia raps S'pore papers KUALA LUMPUR (Reuters): Malaysia's transport minister took a swipe at Singapore newspapers yesterday for playing up reports about the recent chaos at Kuala Lumpur's new airport, saying the remarks were made out of envy. Transport Minister Ling Liong Sik's comments came after Foreign Minister Abdullah Ahmad Badawi warned that the action by the Singapore media did not augur well for relations between the Southeast Asian neighbors.

Golkar is off the mark

Golkar is off the mark From Neraca With regards to the extraordinary congress of the Golkar functional group which is being held from July 9 - 11, 1998, the Indonesian Democratic Alliance Movement (PADI) would like to make the following statement. The rivalry evident within Golkar in the run up to and during the congress has not come about through differing ideologies, but is highly sectarian in nature.

Police perplexed over big robbery

Police perplexed over big robbery JAKARTA (JP): North Jakarta police were confused yesterday when a man, claiming to have been robbed of US$70,000 and Rp 125 million by two armed men, refused to reveal the complete story and gave conflicting statements. "This is my own money. It is my right whether I report the incident to the police or not," North Jakarta Police chief Maj. Heru quoted the man, identified as Yoseph T., 41, as saying.

ASEAN agrees to introduce EHIA

ASEAN agrees to introduce EHIA KUALA LUMPUR (DPA): Five ASEAN member countries have agreed in principle to introduce the Environmental Health Impact Assessment (EHIA) to evaluate all approved development projects in view of development that can result in pollution. In the final recommendations released yesterday, conference chairman Wan Mahmud Othman said the EHIA, which is in existence as an international standard, must be adopted to safeguard public health from the peril of rapid development.

Four murdered at home

Four murdered at home SUKOHARJO, Central Java: A family of four were murdered in their bedrooms here early Saturday morning. Police as yet have not identified any suspects but believe that the perpetrators probably knew the family. "I think this sadistic crime was committed by someone who knew the victims. This is based on the fact that the criminals seemed to have easy access to the house," Sukoharjo police chief Lt. Col. Suherlan.

Auto parts makers urge PLN to lower load expense tariff

Auto parts makers urge PLN to lower load expense tariff JAKARTA (JP): The country's automotive spareparts and components manufacturers have threatened to discontinue their electricity power supply from state-electricity company PLN unless the latter lowers its load expense tariff. Chairman of the Indonesian Automotive Parts and Components Industries (GIAMM) A.

Djadja becomes new city military chief

Djadja becomes new city military chief JAKARTA (JP): Maj. Gen. Djadja Suparman, a former Brawijaya Military Commander overseeing security in East Java, will be sworn in today as the capital's new military chief, replacing Maj. Gen. Sjafrie Sjamsoeddin. Djadja, 49, has won plaudits for his success in keeping East Java relatively safe in the wake of the mid-May rioting in major cities across the country several days prior to then president Soeharto's resignation.

Man falls to his death at hotel in Mangga Dua

Man falls to his death at hotel in Mangga Dua JAKARTA (JP): An unidentified man fell to his death Friday night from the 15th floor of the Ibis Mangga Dua hotel and apartment complex at Jl. Pangeran Jayakarta, Central Jakarta, police said Saturday. The actual circumstances of his death are still unclear. Police said they are trying to determine if the man, believed to be in his 40s, committed suicide or was the victim of foul play.

Thailand says its Myanmar comments justified

Thailand says its Myanmar comments justified BANGKOK (Reuters): Thailand said yesterday that its expressions of concern over rising tensions between Myanmar's ruling military junta and the opposition did not contravene ASEAN's policy of non-interference in other member states. "This is not against the ASEAN spirit," foreign ministry spokesman Kobsak Chutikul said in defense of the comments, which drew criticism from Myanmar's ruling State Peace and Development Council (SPDC).

Tourist arrivals drop drastically

Tourist arrivals drop drastically KENDARI, Southeast Sulawesi: Over 33,000 local and foreign tourists visited the province in the first half of the year, a sharp drop from the same period last year. The head of the provincial Tourism, Art and Culture Office, Sukarna, said here yesterday that based on these figures he expected the total number of tourists visiting the province this year to drop drastically.

Smart, loving touch makes newborns healthy and happy

Smart, loving touch makes newborns healthy and happy By Tri Hafiningsih JAKARTA (JP): Many of us are familiar with the soothing wonders of massage for our tired muscles. But few know the wonders of massage, or more accurately "touch", for newborn babies. Studies show the first touch made by mothers to a newborn is of ultimate importance in determining the quality of the baby's health and intelligence.