Indonesian Political, Business & Finance News

Archive: 2 July 1998

56 articles found

A lingering concern

A lingering concern Almost three weeks have passed since some of the most ugly rioting in the city's history rocked Jakarta. Yet, though a semblance of normalcy has since descended, most of the city's citizenry will find it difficult to say that the dust of those two days of violence has settled.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 1, 1998: Buying Selling Rp Rp U.S. dollar 1 14,100.00 15,100.00Austrian shilling 1 1,075.50 1,228.30Australian dollar 1 8,807.70 9,421.90Belgian franc 1 380.10 404.10Canadian dollar 1 9,691.

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.

Staff salaries robbed from school

Staff salaries robbed from school JAKARTA (JP): Two employees of a state senior high school reported that they had been robbed by two men on a motorcycle who were armed with a one metre long samurai sword.

Applications for passports double, new forms scarce

Applications for passports double, new forms scarce JAKARTA (JP): The number of passports issued in Greater Jakarta last month doubled to 34,302 from 15,215 in May, leaving many immigration offices short of new passports to issue and forcing their employees to work overtime, an official said...

Estrada dealt setback on first day in office

Estrada dealt setback on first day in office SUBIC BAY, Philippines (Agencies): A Philippine court dealt President Joseph Estrada a setback on his first full day in office yesterday by stopping his attempt to oust a political foe as head of a major industrial estate.

Pertamina drops refinery deal with PT Humpuss

Pertamina drops refinery deal with PT Humpuss JAKARTA (JP): State oil and gas company Pertamina has dropped a plan to cooperate with PT Humpuss, owned by two of former president Soeharto's sons, to jointly operate its petrochemical refinery in South Sumatra.

Fire guts Serpong market

Fire guts Serpong market TANGERANG (JP): At least 72 stalls in the Serpong traditional market were gutted in a fire on Tuesday night. No fatalities have been reported so far.One of the traders, Muhidin, said the fire was first spotted in a stall owned by Ayong at around 8:30 pm.

Glodok raised walkway to be demolished

Glodok raised walkway to be demolished JAKARTA (JP): The Glodok elevated walkway, once home to dozens of shops above Jl. Gajah Mada and Jl. Hayam Wuruk in West Jakarta, will be demolished later this month as it was seriously damaged when burned during the May 13 to May 15 riots, an official said...

Van accident kills three

Van accident kills three MUARA TEWEH, Central Kalimantan: Three people were killed and seven others were rescued when a van veered off the road and plunged into a three-meter deep lake in Rarawa village, Gunung Timang subdistrict, some 75 kilometers south of here Tuesday.

Palm oil prices higher on RI uncertainty

Palm oil prices higher on RI uncertainty LONDON (Reuters): Palm oil prices were sharply higher at midday on the European vegetable oil market on growing concerns over the situation in Indonesia.The Indonesian government is expected to take action soon to bring the palm oil price under control...

Akbar defends his plan to hold Golkar meeting

Akbar defends his plan to hold Golkar meeting JAKARTA (JP): Minister/State Secretary Akbar Tandjung has defended his decision to call for a meeting of Golkar's three main components last Monday, which was canceled at the last minute by former president Soeharto.

Changes in the Assembly

Changes in the Assembly A month after his installation as President, B.J. Habibie continues to display agility in his actions. No sooner has the House of Representatives asked the People's Consultative Assembly (MPR) to convene for a special session than he started flushing the assembly of members...

PPP scrutinizing 'corrupt' officials

PPP scrutinizing 'corrupt' officials JAKARTA (JP): The City Council's United Development Party (PPP) faction is currently collecting data and information to prove allegations of corruption perpetrated by 15 city administration officials, a faction member said yesterday.

Shoe maker killed in clash

Shoe maker killed in clash JAKARTA (JP): A 25-year-old shoe maker who was stabbed in the neck during a clash in Bekasi on Tuesday died in the intensive care unit of Cipto Mangunkusumo General Hospital yesterday.According to his brothers, Edy Elong of Jl.

My experience with a PIN

My experience with a PIN I applied for a savings account at Bank Dagang Negara (BDN) in the Manggala Wanabhakti building, Central Jakarta, on May 28. This account, called BDNPAS, comes with an ATM card, and I was told that the card would be ready within about 10 days.

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: Thundercats 3:05 Environment: Pengelolaan Lingkungan Pantai 3:30 Science Film: Ticket to Adventure 4:00 Regional News 4:30 Creative Program: Karya Kita 5:00 Arabic Lessons 5:30 TV Series: Man From...

Child prostitution in higher demand

Child prostitution in higher demand YOGYAKARTA: A survey here has found that the demand for child prostitutes, girls under 18 years of age, is on the rise this year.Researcher Koentjoro of Gadjah Mada University's Center for Population Studies (PPK) said yesterday there were already eight procurers...

Collusion practice at mayoralty investigated

Collusion practice at mayoralty investigated JAKARTA (JP): Central Jakarta's inspectorate office is currently investigating a report on collusion, corruption, cronyism and nepotism allegedly exercised by some officials in the mayoralty, an official said.

Annan concerned over violence in East Timor

Annan concerned over violence in East Timor UNITED NATIONS (Reuters): United Nations (UN) Secretary- General Kofi Annan expressed concern on Tuesday at recent violence in East Timor and called on the Indonesian authorities and community leaders to help ease tensions.

Crisis forces city to 'sacrifice' its environmental programs

Crisis forces city to 'sacrifice' its environmental programsBy Stevie Emilia JAKARTA (JP): More pollution. That's the first thing that comes to mind after learning that the city plans to suspend its environmental programs due to its limited budget.

Dian taxi driver found dead in his cab

Dian taxi driver found dead in his cab JAKARTA (JP): A 28-year-old taxi driver from PT Dian Taxi was found dead between the front seats of his cab, parked on Jl. Perjuangan Raya in West Jakarta Tuesday midnight, police said yesterday.City police spokesman Lt. Col. E.

Towards more efficient fuel use

Towards more efficient fuel useBy Otto Soemarwoto JAKARTA (JP): Fuel has been heavily subsidized by the government. Before the recent price hikes the subsidies amounted to Rp 27.54 trillion consisting of Rp 16.17 trillion for oil and Rp 11.37 trillion for electricity.

SingTel cuts rates by 20%

SingTel cuts rates by 20% SINGAPORE (Reuters): Singapore Telecom said yesterday it was reducing its International Direct Dialing (IDD) rates to seven countries by up to 20 percent.These apply to IDD calls to France, Germany, Indonesia, Italy, Netherlands, South Korea and Thailand from August, it...

Workers' shooting with rubber bullets deplored

Workers' shooting with rubber bullets deplored JAKARTA (JP): Experts deplored yesterday soldiers use of rubber bullets to handle a workers' protest at steel manufacturer PT Gunung Garuda in Bekasi, where dozens of protesters were injured.

Cronyism not a factor in new MPR appointments: Akbar

Cronyism not a factor in new MPR appointments: Akbar JAKARTA (JP): Minister/State Secretary Akbar Tandjung dismissed speculation that the selection of 41 new members of the People's Consultative Assembly (MPR), most of whom were sworn in yesterday, was based on their close relationship with...

A more flexible IMF

A more flexible IMF The International Monetary Fund appears to have finally recognized the folly of its earlier attempts to impose a one-size-fits-all program on the very different problems faced by Asian economies.

'Political infighting' behind rupiah's fall

'Political infighting' behind rupiah's fall JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin blamed yesterday politicians' maneuvering for causing the rupiah's continuing plunge against the U.S. dollar.

Where to go in Bali:

Where to go in Bali:Music and entertainment * Grand Hyatt Bali, Nusa Dua (Phone: 0361 771234): - Pasar Senggol at 8 p.m. to 9 p.m.: Legong Dance, Saturday, Arjuna Wiwaha Dance, Sunday, Balinese Dance Parade, Monday, Genjekan Dance, Tuesday, Jegog Dance, Wednesday, Ramayana Dance, Thursday, Janger...

Political concerns push up demand for life insurance

Political concerns push up demand for life insurance JAKARTA (JP): The demand for life insurance significantly increased during the last two months as people feel more insecure about their future, an insurer said yesterday.David W.

Officers under investigation

Officers under investigation YOGYAKARTA: Yogyakarta Police chief Lt. Col. Bani Siswono admitted yesterday that two of his subordinates were currently under investigation for allegedly shooting at students here in May using live bullets.

'Cyber-shopping' era comes to Indonesia

'Cyber-shopping' era comes to IndonesiaBy Hanny Agustine JAKARTA (JP): The letter "e" in information technology terminology nowadays means a lot. After e-mail, or electronic mail, we now find e-commerce, e-shopping, e-business, e-training and e-university. The keyword is electronic, i.e.

Press entering dark tunnel: Industry executive

Press entering dark tunnel: Industry executive JAKARTA (JP): Skyrocketing prices of newsprint and the continuing plunge of the rupiah are hurtling the press industry into a dark tunnel with no clear light at the end of it, according to an industry executive.S.

Ford, Mazda launch new pickup

Ford, Mazda launch new pickup BANGKOK (DPA): Automobile giants Ford and Mazda yesterday launched separate brand pickups from their US$470 million joint venture factory on Thailand's east coast, company sources said.The launch, which was presided over by Thai Prime Minister Chuan Leekpai and the U.S.

Pertamina to order its oil contractors to cut production

Pertamina to order its oil contractors to cut production JAKARTA (JP): State oil and gas company Pertamina said it will order its oil contractors to cut production by an average of 3,000 barrels per day (bpd) each to honor Indonesia's latest commitment to cut production by 30,000 bpd.

JSX suspends Semen Gresik and four others

JSX suspends Semen Gresik and four others JAKARTA (JP): The Jakarta Stock Exchange (JSX) said yesterday it had suspended trading in state-controlled cement company PT Semen Gresik until it selected a strategic partner.

BI's claim on IBRA down to Rp 132.34t

BI's claim on IBRA down to Rp 132.34t JAKARTA (JP): Bank Indonesia's claim on the Indonesian Bank Restructuring Agency (IBRA) slightly declined to Rp 132.34 trillion (about US$9.45 billion) on June 26 from Rp 133.28 trillion on June 19, the central bank said in a weekly report.

Reform leaders must unite: Emil

Reform leaders must unite: Emil JAKARTA (JP): Economist Emil Salim, one of the leading figures of the reform movement, has called on public figures who support reform to put aside their differences and unite in pushing for political change.

'RRI' staff demonstrate

'RRI' staff demonstrate PURWOKERTO, Central Java: Hundreds of employees of the local state-owned RRI radio station yesterday held a rally in front of their office to demand the resignation of local station chief Yon Maryono.

Indonesian crude prices fall

Indonesian crude prices fall TOKYO (Dow Jones): Unofficial prices for Indonesian crude grades have fallen, putting June prices below May levels, according to industry calculations released late Tuesday.For most grades, price declines ranged from US$0.66 to $1.19 a barrel.

Surakarta tourism ravaged by riots

Surakarta tourism ravaged by riots SURAKARTA, Central Java: The tourism industry is facing imminent collapse in this traditional town because foreign tourist arrivals over the past month have numbered in the mere dozen.

No more funds for scout program

No more funds for scout program JAKARTA (JP): Newly installed Directorate General of Customs and Excise Martiono Hadianto said yesterday that his office would no longer use receipts from cigarette excise to help the country's scout movement.

Body of teenage girl identified

Body of teenage girl identified JAKARTA (JP): A teenage girl who was found dead on Jl. Pegangsaan II in Kelapa Gading, North Jakarta, has been identified as Layla Juliawati, an 11-year-old Chinese-Indonesian girl.

Soeharto probe not an investigation

Soeharto probe not an investigation JAKARTA (JP): Attorney General Lt. Gen. Muhammad Ghalib insisted yesterday that his office was not conducting an "investigation" into the wealth of former president Soeharto, but was merely "examining" it.

RI coffee slowly reaching Asian market

RI coffee slowly reaching Asian market SINGAPORE (Reuters): Indonesian coffee beans have started to reach the market slowly with stable offers, but the shortage of containers could worsen when the main bulk of the crop arrives later this month, traders said yesterday.

Sayidiman suggests special law enforcement ministry

Sayidiman suggests special law enforcement ministry JAKARTA (JP): Military observer Lt. Gen. (ret) Sayidiman Suryohadiprojo suggested here yesterday that the National Police be separated from the Armed Forces and unified with the Attorney General's office under a new department called the Ministry...

Cabinet discusses bill on street protests

Cabinet discusses bill on street protests JAKARTA (JP): Minister of Defense and Security/Armed Forces Commander Gen. Wiranto presented President B.J. Habibie a bill on freedom of expression which includes guidelines for holding street protests at yesterday's cabinet meeting.

Road fatalities on the rise

Road fatalities on the rise BANDA ACEH, Aceh: Aceh Police chief Col. Mohammad Rodja said 161 people had died in traffic accidents in the province in the first five months of this year."The number of deaths from traffic accidents in the province of 3.

Government provides rice at Rp 1,000/kg for the poor

Government provides rice at Rp 1,000/kg for the poor JAKARTA (JP): The government announced yesterday a crash program to help poor people most vulnerable to food shortages, by selling them rice at a third of the going price.

Rupiah stagnant, stocks surge on foreign buying

Rupiah stagnant, stocks surge on foreign buying JAKARTA (JP): The rupiah remained stagnant while share prices continued to make gains yesterday over an unexpected incursion of buying orders from foreign investors, dealers and stockbrokers said.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 1, 1998: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 450 0 0 AHAP Insurance 575 0 0 Alter Abadi 500 25 128,000 Alumindo Light Metal 350 0 60,000 Alumindo...

Late dollar rally hits SE Asian currencies

Late dollar rally hits SE Asian currencies SINGAPORE (Dow Jones): A late U.S. dollar rally against the yen stripped Southeast Asian currencies of most of their gains made during Asian trading hours on Tuesday.

Asia, Europe stocks soar on yen rise

Asia, Europe stocks soar on yen rise TOKYO (Agencies): The Tokyo Stock Exchange's main index soared to its highest close in almost three months in heavy trading yesterday, boosted by a report that Japan will cut taxes to bolster the economy.The 225-issue Nikkei Stock Average jumped 532.

New hotel chain

New hotel chainJP/alx Hotel chain Raddin Hotels and Resort has taken over the management of Park Royal Ancol Jakarta and Park Royal Bali from the international hotel chain Southern Pacific.Publicly listed PT Jakarta Setiabudi Property (JSP), the hotel owner, said yesterday that the two hotels were...

New best friends Clinton, Jiang rattle the region

New best friends Clinton, Jiang rattle the regionBy John Gittings HONG KONG: The energy and speed with which Bill Clinton and Jiang Zemin clinched their romance in Beijing has raised a confusion of well publicized hopes and less articulate fears.

RI banking reform good opportunity for investors

RI banking reform good opportunity for investors SINGAPORE (Reuters): Bank reform consultant Howard Silverfarb has a theory about business opportunities -- "When things go bad, that's the place to go."In the past three weeks he has sold his antique collection, bed linen, air conditioners, all but...