Indonesian Political, Business & Finance News

Archive: 18 July 1998

56 articles found

Price of Minas crude down on high RI export allocations

Price of Minas crude down on high RI export allocations SINGAPORE (Reuters): The price of Asia's heavy sweet Minas crude weakened yesterday, on slightly larger than expected August export allocations from Indonesia, traders said.

World Bank urges Indonesia to stick to reform program

World Bank urges Indonesia to stick to reform program WASHINGTON (Reuters): The World Bank urged Indonesia on Thursday to stick to its tough program of reforms, and predicted growth could return in the medium-term.

Police arrest three drug dealers

Police arrest three drug dealers JAKARTA (JP): Police have arrested three alleged drug dealers from Aceh province in two separate raids here.The deputy chief of city police detective unit, Lt. Col. Bakat Purwanto, said the first two suspects, identified as M.

Violence against women

Violence against women Demands that the government thoroughly investigate the acts of violence recently committed against women are increasing in strength. Two days ago, or more than a month after the shocking cases were reported in the media, 25 women representatives met with President B.J.

RI market steady on positive sentiment

RI market steady on positive sentiment JAKARTA (JP): The Indonesian financial market closed the week higher yesterday on positive sentiment over the economic outlook with international donors pledging more aid for the country.The rupiah maintained its strength, closing at 13,350 against the U.S.

Aurora develops RI project

Aurora develops RI project PERTH (Dow Jones): Australian gold mining concern Aurora Gold Ltd. is closer to developing its Toka Tindung project in north Sulawesi, Indonesia, after studies showed that 150,000 ounces of gold can be produced annually at a cash cost of less than US$200 an ounce.

Megawati dismisses suggestion to split PDI

Megawati dismisses suggestion to split PDI JAKARTA (JP): The ousted leader of the Indonesian Democratic Party (PDI), Megawati Soekarnoputri, yesterday rejected Minister of Home Affairs Syarwan Hamid's proposal to split the party into two new separate parties if its two warring factions failed to...

Improving RI's race relations

Improving RI's race relationsBy S. Belen JAKARTA (JP): For three decades the New Order government insisted on retaining policies aimed at forcing Chinese- Indonesians to become assimilated into mainstream society.

Overcoming evil

Overcoming evil About a year ago, and even before that, Indonesian was becoming the envy of many poor and developing nations due to its seemingly prosperous economy. Back then, many of its poor people were gradually passing above the poverty line, with millions of tourists visiting the country and...

Palm oil prices increase in nervous trading

Palm oil prices increase in nervous trading LONDON (Reuters): Palm oil opened with gains of about $5 to $7.50 a ton in an edgy European market yesterday, traders said.Most sellers were unwilling to show their hands and traders were only able to give quoted prices.

Death sentence awaits illegal gun owners, smugglers

Death sentence awaits illegal gun owners, smugglers JAKARTA (JP): Possessing a gun in this country without the proper documents could leave you facing a possible death sentence.Article 1 of the 47-year-old Emergency Law number 12 makes owning or carrying firearms illegal.

It's about 'quick fixes'

It's about 'quick fixes' I find Carl Chairul's By The Way piece last Sunday (July 12) not only amusing but right on the nose. It's truly a pity that some readers are unable to see that he does not intend to ridicule the idea of making sacrifices in the form of fasting to help less-fortunate fellow...

Two more refuse to join new Golkar executive board

Two more refuse to join new Golkar executive board JAKARTA (JP): Two more politicians, Sudarko Prawiroyudho and Thomas Suyatno, refused yesterday to join the new Golkar executive board, bringing the number of people who have declined to 11.The number is expected to increase further.

Indonesian fishing boat defies Australian navy

Indonesian fishing boat defies Australian navy SYDNEY, Australia (Agencies): The Australian navy admitted yesterday that an Indonesian fishing boat caught poaching had evaded capture earlier this month by ramming the patrol boat that had given chase and fired shots over its bows.

Prosecutors set to unravel corruption in airport project

Prosecutors set to unravel corruption in airport project TANGERANG (JP): The prosecutors office here appears to be on the verge of uncovering alleged corruption in the 1981 acquisition of 115 hectares of land for the development of Soekarno-Hatta International Airport.

East Timor anniversary passes without incident

East Timor anniversary passes without incident JAKARTA (JP): After weeks of swirling rumors of impending clashes between demonstrators and security forces, quiet pervaded in Dili, East Timor, yesterday as residents chose to stay indoors on the province's 22nd anniversary of integration into...

Jobless plunder bamboo fields

Jobless plunder bamboo fields BANDUNG: Hundreds of people, mostly those who lost their jobs after their companies went bankrupt, have plundered a bamboo plantation on Mt. Manglayang, Bandung regency, a report said yesterday.

Rupiah's sharp fall may halt fertilizer production

Rupiah's sharp fall may halt fertilizer production JAKARTA (JP): The country's fertilizer producers might soon be forced to halt production because the sharp plunge in the rupiah against the U.S. dollar has made raw materials unaffordable, a fertilizer company executive has said.

Vietnam to sell rice to RI

Vietnam to sell rice to RI HANOI (Reuters): Vietnam intends to sell 100,000 tons of rice to Indonesia on deferred payment in addition to providing a free shipment of 10,000 tonnes, an official from the Government Office said yesterday.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 17, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 325 0 10,000 AHAP Insurance 575 0 0 Alter Abadi 550 25 290,000 Alumindo Light Metal 375 25 52,000 Alumindo...

Trisakti guns to undergo more tests

Trisakti guns to undergo more tests JAKARTA (JP): The National Police agreed yesterday to allow the National Police Forensic Laboratory (Puslabfor) to reexamine 21 guns used during the Trisakti University shooting incident, an officer said yesterday.

Firearms market thriving in scared Jakarta

Firearms market thriving in scared Jakarta JAKARTA (JP): Some victims of the mid-May riots probably wish they had kept tear gas or guns on hand to protect their family and property from the mob violence.

On suing RI, BI and Exim Bank

On suing RI, BI and Exim Bank I am writing in response to The Jakarta Post June 25 report RI govt and central bank sued for $58.69 billion. I feel concerned about it and would like to make the following comments.

OPEC basket price $12.30

OPEC basket price $12.30 LONDON (Reuters): The price of OPEC's basket of seven crudes stood at $12.30 a barrel on Thursday, unchanged from Wednesday, the OPEC news agency said quoting the OPEC Secretariat.

Firm warned over foreign model

Firm warned over foreign model JAKARTA (JP): The Immigration Directorate General of the Ministry of Justice has sternly warned cosmetic firm PT Martina Berto for illegally employing a foreign model for a television advertisement, an official said.

Wiranto warns against looting

Wiranto warns against looting JAKARTA (JP): The Armed Forces (ABRI) warned yesterday it will crack down hard against looters amid growing signs of a breakdown of law and order in some parts of the country.ABRI Commander Gen.

Japex will not buy stake in Timor Gap

Japex will not buy stake in Timor Gap JAKARTA (JP): Japanese oil company Japan Petroleum Exploration Co. (Japex) had no plans to invest in the development of a depot in Timor Gap in return for a stake in the project, a company official said yesterday.

Badminton coach denies he quit over salary spat

Badminton coach denies he quit over salary spat JAKARTA (JP): National badminton men's singles coach Indra Gunawan said yesterday there was no truth to media speculation over the reason for his resignation."I did not resign because my salary was less than physical trainer Paulus Passurney.

New organization set up to help poor people

New organization set up to help poor people JAKARTA (JP): Student activists and representatives of several non-governmental organizations established yesterday an organization aimed at helping poor people suffering from food shortages.

RP trade deficit narrows

RP trade deficit narrows MANILA (Reuters): The Philippines merchandise trade deficit narrowed in the first five months of the year as the current economic slowdown reduced imports and economists yesterday said the trend will likely hold.

I'm ready to take the blame: Prabowo

I'm ready to take the blame: Prabowo JAKARTA (JP): Lt. Gen. Prabowo Subianto said yesterday he is ready to take responsibility for the kidnappings of political activists allegedly perpetrated by the Army's special force (Kopassus) early this year.

Regional crisis worse than thought: PM Goh

Regional crisis worse than thought: PM Goh SINGAPORE (Dow Jones): Singapore Prime Minister Goh Chok Tong yesterday warned that the region's economic crisis is worse than initially believed and called on Japan to do more to stimulate its sputtering economy.

Bulog to distribute cooking oil again after mayhem

Bulog to distribute cooking oil again after mayhem JAKARTA (JP): The government reappointed the State Logistics Agency (Bulog) yesterday to distribute cooking oil on the domestic market, the State Minister of Food and Horticulture A.M Saefuddin said.

Women seek action on rapes

Women seek action on rapes JAKARTA (JP): About 80 women grouped in the Coalition of Indonesian Women for Justice and Democracy (KPIKD) demonstrated at the defense ministry yesterday, urging the Armed Forces to account for the rape of at least 168 Chinese-Indonesian women during the May riots.

AFP to redeem Amcol bonds

AFP to redeem Amcol bonds SINGAPORE (Reuters): Asia Food & Properties Ltd (AFP) will redeem all outstanding bonds in now-defunct Amcol Holdings Ltd amounting to S$285 million by Monday, its deputy chief financial officer 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.

Lehman Brothers and JP Morgan named IBRA's financial advisors

Lehman Brothers and JP Morgan named IBRA's financial advisors JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) has named Lehman Brothers and JP Morgan as its international financial advisors to help rehabilitate the country's beleaguered banking sector.

Sundanese food promotion

Sundanese food promotion JAKARTA (JP): If you love traditional food, then Hotel Santika's food and culture promotion may be to your taste.The hotel is organizing a two-day promotion of Sundanese food for July 24 and July 25, where guests can enjoy dinner comprising, among others, Asinan Bogor...

Bylaw on land clearance licenses 'badly needed'

Bylaw on land clearance licenses 'badly needed' JAKARTA (JP): The city administration was urged yesterday to prepare a bylaw to specify the rights and responsibilities of every developer applying for a license to clear land for development purposes.

FEW, an organization that binds active, busy women

FEW, an organization that binds active, busy womenBy Izabel Deuff JAKARTA (JP): A few smartly dressed white women laughed and chatted in English in the Batur Room in the Mercantile Club on the 18th floor of the World Trade Center in Central Jakarta.

KL building to star in new film

KL building to star in new film KUALA LUMPUR (AP): A new film starring Sean Connery will be shot atop a building in Malaysia that is being billed as the world's tallest.The filming of Entrapment, a thriller directed by Jon Amiel will start in the capital of Kuala Lumpur in September, Twentieth...

Moslem scholars want Puncak entertainment center shut

Moslem scholars want Puncak entertainment center shut BOGOR (JP): Local Moslem scholars appealed for a second time yesterday to local authorities to shut dozens of entertainment establishments in the popular Puncak resort area which they charged front for the sex business and the drug transactions.

Political activist Pius to return home tomorrow

Political activist Pius to return home tomorrow JAKARTA (JP): Political activist Pius Lustrilanang, the first to go public with an account of the abductions of activists, is to return to Indonesia tomorrow, his lawyer said yesterday.

National coalition called for to end crisis

National coalition called for to end crisis JAKARTA (JP): Abdurrahman Wahid, Megawati Soekarnoputri and Bishop Carlos Felipe Ximenes Belo, in a unique gathering, yesterday called on the government to form a coalition with reform leaders to lead the nation out of the economic crisis.

Free political prisoners: Dita

Free political prisoners: Dita TANGERANG, West Java: Jailed labor activist Dita Indahsari urged the Habibie administration yesterday to free all political prisoners without exception.She claimed to have heard that more political detainees would be released but said the government had yet to...

Dress for state occasions

Dress for state occasionsFrom Media IndonesiaOn state TV, we often see high-ranking government officials and their spouses attending official occasions. The officials' dress (reflecting national culture) is often of high quality. Usually the officials wear uniformed batik.

SE Asian currencies up amid cautious optimism

SE Asian currencies up amid cautious optimism SINGAPORE (Dow Jones): For the first time in months, some market players were daring to take a bullish view on Southeast Asian currencies, as late yesterday regional foreign exchange markets ended a week of choppy trading significantly higher against...

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 17, 1998: Buying Selling Rp Rp U.S. dollar 1 12,800.00 13,800.00Austrian shilling 1 993.50 1,142.30Australian dollar 1 8,140.80 8,753.30Belgian franc 1 351.20 375.40Canadian dollar 1 8,682.

Landslide kills two in Philippines

Landslide kills two in Philippines ZAMBOANGA, Philippines (AP): Searchers dug up two bodies yesterday and were searching for at least five other victims of a landslide in the southern Philippines, police said.

Up in arms?

Up in arms? Should Indonesians be allowed to carry guns? Or should the current tight restrictions on gun ownership at least be loosened? For most of us the answer to these questions is simple enough. No.

House gets support on UN convention

House gets support on UN convention JAKARTA (JP): The government has given its support to the House of Representatives' initiative to ratify the draft law on the UN Convention Against Torture as part of its action plan to improve the observance of human rights in the country.

Police officer neglects summons

Police officer neglects summons YOGYAKARTA (JP): Lawyers of murdered journalist Fuad Muhammad Syafrudin are irate at the failure of police Sergeant Major Edy Wuryanto to appear at the Military Police Headquarters on July 15 for questioning over his alleged role in the killing.

'Ojek' driver found dead

'Ojek' driver found dead JAKARTA (JP): An ojek (motorcycle taxi) driver was found dead early yesterday at a flyover on Jl. Raya Narogong in Bekasi.Daryo, 32, was believed to have died of stab wounds to his face and stomach.It was not known who found his body.

Govt will resort to 'force' in collecting taxes

Govt will resort to 'force' in collecting taxes JAKARTA (JP): Minister of Finance Bambang Subianto said yesterday the government would use "force" to ensure that tax revenue met the target in the current 1998/99 fiscal year.

Pertamina to lose downstream monopoly

Pertamina to lose downstream monopoly JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto said yesterday the government is preparing a bill to end the monopoly of the state oil and gas company Pertamina in domestic oil and gas refining, fuel distribution, and marketing.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 TV Series: Silverhawks 3:05 Children's Program: Tamasya 3:30 Science Film: Invention 4:00 Regional News 4:30 Sports 5:30 TV Series 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports News 6:30 TVRI News (in English) 7:00...