Indonesian Political, Business & Finance News

Archive: 17 July 1998

62 articles found

Toyo wins RI contract

Toyo wins RI contract TOKYO (Nikkei): Toyo Engineering Corp. leads a group that has won a Y35 billion contract from an Indonesian concerns to build two fertilizer plants on the island of Sumatra, The Nihon Keizai Shimbun Thursday morning edition reported.

Foreign investors sought for Rp 4.2t Monas project

Foreign investors sought for Rp 4.2t Monas project JAKARTA (JP): Foreign investors are badly needed to help develop underground commercial facilities and an amphitheater in the National Monument (Monas) park, an official said yesterday.

Calls grow for probe into disappearances

Calls grow for probe into disappearances JAKARTA (JP): Despite the detention of several Army special force (Kopassus) officers for the abduction of activists, leading opposition and human rights figures intensified their demands yesterday for a thorough investigation to discover the brains behind...

Crisis pushes up life insurance demand

Crisis pushes up life insurance demand JAKARTA (JP): PT Sewu New York Life (SNYL), a life insurance joint venture has reported robust growth in sales in the last two months, reflecting people's increased insecurity about the future.Company president C.

Residents swarm to shrimp ponds

Residents swarm to shrimp ponds JAKARTA (JP): Hundreds of people swarmed to shrimp ponds in Salembaran Jaya village, Kosambi district on the Teluknaga coast yesterday, waiting to get their share in the shrimp harvest.

Japanese found dead in hotel

Japanese found dead in hotel JAKARTA (JP): A Japanese national identified as K. Takeda, 49, died in his room in Hotel Pangrango, Bogor, West Java, on Wednesday, a report said yesterday.The police identified him as an employee of PT Indocement who checked into the hotel early on Wednesday with an...

Trisakti University backs change in education law

Trisakti University backs change in education law JAKARTA (JP): Students and faculty from Trisakti University have joined the chorus of calls for revisions in the national education law to allow institutions of higher learning to be more autonomous and democratic.

Air France not to reduce flights despite slump

Air France not to reduce flights despite slump JAKARTA (JP): Air France said yesterday it had no plans to reduce its Jakarta-Paris service despite a sharp decrease in passenger volume in the first semester of this year.

Reform and the little people

Reform and the little peopleFrom Sinar PagiThe reform generated by students has led the little people to feel they might expect better days ahead.But present conditions have made them doubt what use the reform is. Life is not getting any better, it is even harder now. The economy has gone awry.

On rape victims

On rape victims In a letter you published on July 15 under the insensitive title 'Rape victims have no future', Mrs. Soeparman suggested that the women who had been raped in the recent riots "will be engulfed by a feeling of shame for the rest of their lives, will feel inferior...

Gandhi assassin play condemned

Gandhi assassin play condemned NEW DELHI (AP): A play about the man who killed Indian independence leader Mohandas Gandhi was condemned in India's parliament yesterday.Speaker G.M.C. Balayogi was hard-pressed to calm angry lawmakers after one raised for debate newspaper reports about the play,...

Thai rice export to RI surge

Thai rice export to RI surge BANGKOK (Dow Jones): Thailand's rice exports to Indonesia during the period January to June 1998 totaled 969,300 metric tons, up 454 percent from 175,000 tons in the same period last year, according to a Department of Foreign Trade report.

Feuding PDI camps may go separate ways

Feuding PDI camps may go separate ways JAKARTA (JP): Minister of Home Affairs Syarwan Hamid has supported the idea of splitting the divided Indonesian Democratic Party (PDI) into two parties if the Megawati Soekarnoputri and Soerjadi camps cannot resolve their differences.

Tangerang regency moves to new HQ

Tangerang regency moves to new HQ TANGERANG (JP): The regency administration will move in to its new headquarters in Tiga Raksa, about a one hour drive southwest of here, next month, regent Agus Djunara said yesterday.

Farmers to sue Soeharto over Tapos cattle ranch

Farmers to sue Soeharto over Tapos cattle ranch JAKARTA (JP): Hundreds of farmers from Cibedug, Bogor, plan to sue former president Soeharto for allegedly seizing their land in the early 1970s when he developed a sprawling cattle ranch.

Bapindo publishes financial reports, reveals Rp 1.05t loss

Bapindo publishes financial reports, reveals Rp 1.05t loss JAKARTA (JP): After a four-year hiatus, state-owned PT Bank Pembangunan Indonesia (Bapindo) is finally publishing its financial reports today.The reports, shown to journalists yesterday, show that the bank suffered a cumulative carried-over...

Villagers make their own oil

Villagers make their own oil PURWOKERTO, Central Java: Skyrocketing prices of cooking oil have forced villagers in Banyumas to use traditional methods, such as producing their own coconut oil, to supplement their needs.

Asian stock marts up on Japanese hopes

Asian stock marts up on Japanese hopes SINGAPORE (Reuters): Hopes for a stronger leadership in Japan boosted the yen and propelled Asian stocks upwards yesterday, with South Korean shares rocketing more than five percent.

Governor allows rallies to go on in East Timor

Governor allows rallies to go on in East Timor JAKARTA (JP): East Timor Governor Abilio Jose Osorio Soares said he would allow mass rallies to be held in the province today but warned he would order an immediate clampdown if they become unruly.

Indonesia's donors agree on urgent need for help

Indonesia's donors agree on urgent need for help JAKARTA (JP): Indonesia's traditional aid donors met here yesterday and broadly agreed on the urgent need to help the country through the economic crisis, the World Bank said.

Scientist warns rain may trigger Merapi lava flow

Scientist warns rain may trigger Merapi lava flow YOGYAKARTA (JP): A scientist here is warning the lava flow from Mt. Merapi volcano could intensify with the likelihood of heavier rains.Director of the Center for Natural Disaster Studies, Sudibyakto, said yesterday that much-predicted rainfall from...

On closing time deposit

On closing time deposit My letter titled 'Phone banking which appeared' in The Jakarta Post on July 16 was edited in such a way that the main point I wanted to convey has gone. What I tried to say in the letter is that only at the Standard Chartered Bank, customers cannot close their time deposits...

International artists set to perform at second Art Summit

International artists set to perform at second Art Summit JAKARTA (JP): A variety of performances by internationally renowned artists will treat audiences during the second Art Summit Indonesia from Sept. 19 to Oct. 19.

Exporters to get cheaper loans

Exporters to get cheaper loans JAKARTA (JP): The government will soon enter into a deal with eight healthy domestic banks designed to provide exporters and distribution companies with Rp 2.5 trillion (US$192.31 million) in cheaper loans, Finance Minister Bambang Subianto said yesterday.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Painting Exhibition: Kriyono's Cynorure by Kriyono, at Galeri Linggar, Jl. Kemang Timur No. 36, South Jakarta (Phone: 7990008), 10 a.m. to 10 p.m., until Aug. 9. * Embroideries Exhibition in the lobby of Sari Pan Pacific Hotel, Jl. M.H.

May rapes become political issue

May rapes become political issueBy Julia I. Suryakusuma JAKARTA (JP): Rape may appear to be personal in nature, with the trauma and pain only being felt fully by the victim. But in reality rape has very deep and broad ramifications.

Committee to investigate May rapes to be set up

Committee to investigate May rapes to be set up JAKARTA (JP): President B.J. Habibie will next week officially establish a committee with a short term mission to investigate the alleged rape of women during and after the May riots across the country.

A picture of lawlessness

A picture of lawlessness The pain our nation has endured since the onset of economic collapse last year is so severe that it has seemingly caused serious metal decay among our people.The ruthless criminal offenses committed by wild mobs have tragically painted a dark picture of the nation.

Lawlessness will scare away business: Sofyan

Lawlessness will scare away business: Sofyan JAKARTA (JP): Continuing reports of rampant looting and unlawful seizure of property and businesses of Chinese- Indonesians will cause more businesspeople to flee to safer shores and scare off foreign investors, a noted businessman has warned.

SE Asian currencies surge on rupiah rally

SE Asian currencies surge on rupiah rally SINGAPORE (Dow Jones): Southeast Asian currencies soared against the U.S. dollar late in Asian trading hours yesterday.Dealers said improved sentiment on the Indonesian rupiah sparked the regional rally.

Expert describes revised RI oil price forecast as feasible

Expert describes revised RI oil price forecast as feasible HONG KONG (Dow Jones): Indonesia's budget forecast of US$13 per barrel crude oil -- a critical assumption in the government's revised budget -- appears feasible if world oil prices rise as expected, said an oil industry consultant yesterday.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 16, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 325 0 38,500 AHAP Insurance 575 0 0 Alter Abadi 525 0 70,500 Alumindo Light Metal 350 0 0 Alumindo...

Long-serving badminton coach resigns after 13 years

Long-serving badminton coach resigns after 13 years JAKARTA (JP): The Badminton Association of Indonesia officially accepted the resignation of men's singles coach Indra Gunawan after a meeting on Wednesday.

A mystery unraveled

A mystery unraveled An act of terror that seemed destined to become a permanent mystery is at last beginning to unravel. It appears that a number of individuals belonging to the Army Special Forces (Kopassus) were responsible for the abduction of political activists.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Tom and Jerry Kids 3:05 Sports: Topik Olah Raga 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Education Quiz: Cerdas Cermat 6:00 News: Lintasan Berita 6:05 My Country: Rona...

Parents look to rehab centers to get kids off drug habit

Parents look to rehab centers to get kids off drug habitBy Yogita Tahil Ramani JAKARTA (JP): Some teenagers choose to snort off nagging mental agitation by "chasing the dragon", the drug user's euphemistic term for imbibing heroin through a straw put up the nostrils or having it diluted, heated and...

Ethnic Vietnamese shot dead ahead of Cambodia poll

Ethnic Vietnamese shot dead ahead of Cambodia poll PHNOM PENH (Reuters): Three ethnic Vietnamese were among four fishing people shot dead by masked gunmen in an attack that bodes ill for Cambodia's July 26 election, a senior government official said yesterday.

Staying 'green' in the crisis

Staying 'green' in the crisis SEMARANG, Central Java: Six cities from five Asian countries with inter-city cooperation are scheduled to take part in an international seminar and workshop here on the importance of environmental management during an economic crisis.

Govt proposes to reschedule sovereign debt

Govt proposes to reschedule sovereign debt JAKARTA (JP): The government plans to reschedule part of its foreign debt to help raise funds to cover its immediate economic and fiscal needs, according to Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita.

NGOs sue govt over security breakdown

NGOs sue govt over security breakdown JAKARTA (JP): Non-governmental organizations filed a class action lawsuit against the government yesterday over lax security during the May riots.Lawyer Ester Jusuf said the suit was filed in the Central Jakarta District Court against the Minister of Defense...

International Monetary Fund's statement on RI economic program

International Monetary Fund's statement on RI economic program WASHINGTON (Reuters): The following statement was issued on Wednesday by Alassane Ouattara, a deputy managing director at the IMF, on Indonesia's economic program:I am pleased to announce that in support of the Indonesian government's...

A child's drug problem often tears their family asunder

A child's drug problem often tears their family asunder JAKARTA (JP): Mornings are painful reminders. It is the time when Lili, not her real name, used to see off her three children to school.Evenings are the same.

Mobil ups Indonesia reserve estimate

Mobil ups Indonesia reserve estimate FAIRFAX, Virginia (Reuters): Mobil Corp. said yesterday that reserve estimates at its Greater Merah Besar field, offshore East Kalimantan, had been increased to 190 million barrels of oil after drilling two new exploration wells.

Sioen boosts RI presence

Sioen boosts RI presence BRUSSELS (Reuters): Belgian textile company Sioen Industries NV said on Wednesday it bought a textile workshop in Indonesia for an undisclosed amount, expanding its textile division by 800 employees.

Rupiah strengthens an news of new loans

Rupiah strengthens an news of new loans JAKARTA (JP): The local financial market gained ground yesterday after the International Monetary Fund announced it was resuming loan disbursements to the country and said an additional US$6 billion had been added to its financial rescue package.

Barclays releases banking report

Barclays releases banking report HONG KONG (Dow Jones): Banks in Hong Kong, the Philippines and Malaysia are in the best shape in the region, and those in Indonesia and South Korea in the worst, Barclays Capital said yesterday.

MLC raises stake in RI firm

MLC raises stake in RI firm SYDNEY (Reuters): MLC Ltd, the life insurance and funds investment arm of Lend Lease Corp Ltd, said yesterday it has increased its investment in Indonesian life insurance joint venture Simas Lend Lease Life.MLC said it would spend A$2.

Big Macs off Moslem menus

Big Macs off Moslem menus BANDAR SERI BEGAWAN (AP): Big Macs have been scratched from McDonald's menus in Brunei until the burgers are deemed in keeping with dietary rules by Moslem religious officials.

Police intensify operations to trace illegally-owned guns

Police intensify operations to trace illegally-owned guns JAKARTA (JP): Police are intensifying street operations following reports that wealthy people traumatized by the mid-May riots have bought guns on the black market.City police Chief Maj. Gen.

RI buys Australian wheat

RI buys Australian wheat SINGAPORE (Reuters): Indonesia has bought 30,000 to 50,000 tons of Australian wheat for prompt delivery at a tender, a Singapore-based trader said yesterday.The price was not immediately available.

Lake Tempe overflows

Lake Tempe overflows UJUNGPANDANG, South Sulawesi: More than 1,800 houses remained inundated as waters from Lake Tempe in Wajo regency have not subsided after it overflowed Wednesday.About 15,000 hectares of paddy fields and 600 hectares of cocoa plantations have also been affectedWajo regent...

Government again revises crisis budget

Government again revises crisis budget JAKARTA (JP): The government announced yesterday another revised version of the 1998/1999 State Budget to accommodate a further deterioration in the economy and a huge subsidy commitment.

Trade relations between RI and Iraq

Trade relations between RI and Iraq In the food and pharmaceutical sector, in an effort to help the Iraqi public meet food and medicinal needs, several pharmaceutical firms and food company executives have established trade contacts with the Iraqi government, particularly in a project tender which...

City captured world of four ages in 'Catur Yuga'

City captured world of four ages in 'Catur Yuga' JAKARTA (JP): The circle of time versus the linear lines of it.With this as its concept, the Swiss Embassy, The Goethe Institute in Jakarta and the Jakarta Playhouse are presenting an arts exhibition and a contemporary music and dance performance...

Development of Timor Gap depot put on hold

Development of Timor Gap depot put on hold JAKARTA (JP): PT El Nusa, a subsidiary of state oil and gas company PT Pertamina, has put on hold the development of a logistical depot in Kupang, East Nusa Tenggara, designed to support oil and gas exploration in the Timor Gap, due to lack of funds.

Sumitomo serves Jakarta firms

Sumitomo serves Jakarta firms TOKYO (Nikkei): A Sumitomo Corp subsidiary has begun arranging air cargo service to an Indonesian industrial center housing numerous Japanese manufacturers, The Nihon Keizai Shimbun Thursday morning edition reported.Sumitrans (Japan) Corp.

Three big hospitals to have name changed

Three big hospitals to have name changed JAKARTA (JP): Three major hospitals have been taken over by the government and will have their names changed to dispel the perception that they are still under a foundation chaired by former president Soeharto, a minister said yesterday.

IMF and donors boost RI bailout

IMF and donors boost RI bailout WASHINGTON (Reuters): The International Monetary Fund on Wednesday approved an immediate $1 billion loan payment to Indonesia and said donors agreed to increase bailout lending by $6 billion on top of previous commitments.

Local property market may worsen over next two years

Local property market may worsen over next two years JAKARTA (JP): The outlook for Indonesia's property market will remain grim for the next few years because of the deteriorating economy and volatile political situation, property consultant PT Procon Indah and its international partner, Jones Lang...

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 16, 1998: Buying Selling Rp Rp U.S. dollar 1 12,750.00 14,000.00Austrian shilling 1 979.10 1,134.10Australian dollar 1 8,057.00 8,731.30Belgian franc 1 346.10 372.90Canadian dollar 1 8,618.

Complaints Box opens in Bogor

Complaints Box opens in Bogor BOGOR (JP): The Bogor Prosecutor's Office has opened a special post office box for citizens who are fed up with corruption in the local bureaucracy.Djuharia Anwar, who heads the office, said on Wednesday that people could report corrupt practices involving government...

Governor Sutiyoso vows to help Asian Games team

Governor Sutiyoso vows to help Asian Games team JAKARTA (JP): Jakarta Governor Sutiyoso has said the city administration will work to drum up financial support for the National Sports Council to send the national contingent to the 13th Asian Games in Bangkok in December.