Indonesian Political, Business & Finance News

Archive: 25 July 1998

61 articles found

Govt frees 50 political prisoners

Govt frees 50 political prisoners JAKARTA (JP): The government released 50 political prisoners yesterday and pledged to restore the good name of the late Hartono Rekso Dharsono, a soldier and diplomat jailed for subversion by former president Soeharto's regime.

Megawati faction sticks to its guns on rallies

Megawati faction sticks to its guns on rallies JAKARTA (JP): Supporters of Megawati Soekarnoputri's faction of the Indonesian Democratic Party (PDI) vowed yesterday to defy a police ban and go ahead with rallies marking the second anniversary of a bloody attack on their ranks.

DPR approves the bill on convention against torture

DPR approves the bill on convention against torture JAKARTA (JP): Attacking the government for its tacit approval of rights violations over the past 13 years, the four House of Representatives factions passed yesterday the bill on the Convention against Torture and other Cruel, Inhuman or Degrading...

S'pore should avoid 'harsh contraction'

S'pore should avoid 'harsh contraction' SINGAPORE (Reuters): Singapore should avoid a harsh economic contraction in 1998 to see growth sit within the government's forecast of 0.5 percent to 1.5 percent expansion, U.S. embassy officials said in a report yesterday.

Mobs get own back in land rows

Mobs get own back in land rowsBy Pandaya JAKARTA (JP): A gang of 200 men descended out of the scenic Cibodas hills of West Java in the middle of the dark night of July 20. Armed with knives and hoes, they fell upon the golf course, chopped down trees, dug up the land and raised banners proclaiming...

IMF's review to focus on three major issues

IMF's review to focus on three major issues JAKARTA (JP): The International Monetary Fund (IMF) Director for Asia and Pacific Affairs Hubert Neiss said here yesterday that the fund's review of the Indonesian economic reform program would focus on three major issues this month, including the...

Soeharto's monopoly probed

Soeharto's monopoly probed JAKARTA (JP): State oil and gas company PT Pertamina is investigating a Soeharto-linked company's alleged monopoly on the production of liquefied petroleum gas (LPG) container valves."I've received the letter informing me about the monopoly.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 24, 1998: Buying Selling Rp Rp U.S. dollar 1 13,750.00 14,750.00Austrian shilling 1 1,032.00 1,175.90Australian dollar 1 8,306.10 8,851.30Belgian franc 1 364.70 386.30Canadian dollar 1 8,980.

House unanimously approves new bankruptcy bill

House unanimously approves new bankruptcy bill JAKARTA (JP): The House of Representatives approved yesterday a new bankruptcy bill in a move the government hopes will attract foreign investors to the country.

ASEAN firm on free trade plan

ASEAN firm on free trade plan SINGAPORE (Reuters): The Association of Southeast Asian Nations (ASEAN) senior officials at a heads of investment meeting yesterday stood solidly behind the push for oneness in their economies despite the current economic crisis.

Impact of Sino-U.S. ties on Japan

Impact of Sino-U.S. ties on Japan Continuing with the fifth in a series of articles on President Bill Clinton's recent visit to China, The Jakarta Post's Asia correspondent Harvey Stockwin focuses on the current atmospherics in the triangular relationship between Japan, China and the United States.

Dead baby may have been sexually abused

Dead baby may have been sexually abused JAKARTA (JP): Physicians believe an 18-month-old boy who died yesterday morning at Harapan Bunda Hospital in East Jakarta may have been sexually abused.An autopsy showed the anus of the child, identified as John Ade, was dilated and it was surrounded by...

Indonesian press enters gray area

Indonesian press enters gray area JAKARTA (JP): Senior journalists and media watchers warned yesterday that the press was entering unchartered waters full of uncertainty both in terms of financial survival and editorial policy.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Arts Exhibition by Agung Kurniawan at Lontar Gallery, Jl. Utan Kayu 68 H East Jakarta (Phone: 8573388), Monday to Friday, 10 a.m. to 5 p.m., Saturday, 10 a.m. to 3 p.m. until Aug. 10.

Error saves Utut after unnecessary sacrifice

Error saves Utut after unnecessary sacrifice JAKARTA (JP): A pair of blunders were the highlights yesterday as Indonesia's number one chess wizard Utut Adianto was lucky to escape with a draw at the Biel Masters tournament in Switzerland Thursday.

Floods, landslides kill 12 in Irian Jaya

Floods, landslides kill 12 in Irian Jaya JAYAPURA, Irian Jaya: Floods and landslides caused by three days of incessant rain in Yapen Waropen and Abepura districts near here have killed at least 12 people and injured many others.

Palm oil prices little changed in Europe on limited demand

Palm oil prices little changed in Europe on limited demand LONDON (Reuters): European vegetable oil prices were little changed from Thursday's close at opening yesterday.Traders said the market remained under pressure from good weather conditions in the U.S.

Train pileup kills one, injures nine in Bekasi

Train pileup kills one, injures nine in Bekasi JAKARTA (JP): One person was killed and nine others injured in a three-train collision early yesterday in Karang Asih village, Bekasi, the city's second fatal train accident of the week.

Focusing on the gimmicks used in the power struggle

Focusing on the gimmicks used in the power struggleBy Mochtar Buchori JAKARTA (JP): Is it true that the recent Golkar congress was defiled by an acrid fight between the supporters of Akbar Tandjung and Edi Sudradjat? I personally think there is an element of truth in this allegation.

Mahathir off to southern Africa

Mahathir off to southern Africa KUALA LUMPUR (DPA): Malaysian Prime Minister Mahathir Mohamad left early yesterday for a week-long visit to South Africa, Namibia and Mozambique, the Bernama national news agency reported.

ASEAN foreign ministers welcome Obuchi's election

ASEAN foreign ministers welcome Obuchi's election MANILA (AP): Foreign ministers of the Association of Southeast Asian Nations welcomed Keizo Obuchi's election as head of Japan's ruling party yesterday, expressing confidence he could bail Japan out of its economic troubles.

Cambodians fear CPP may stage a coup if it loses in polls

Cambodians fear CPP may stage a coup if it loses in pollsBy Armin Wertz PHNOM PENH (DPA): The German embassy in Phnom Penh is reported by Deutsche Welle, the German short-wave radio station, to have warned that Hun Sen's Cambodian People's Party (CPP) may stage a coup if it loses tomorrow's general...

Government issues decree on freedom of expression

Government issues decree on freedom of expression JAKARTA (JP): President B.J. Habibie has signed a government regulation in lieu of a law on "freedom of expression" that governs requirements for street demonstrations.

Bali raises NPL provision

Bali raises NPL provision JAKARTA (JP): Publicly listed PT Bank Bali announced yesterday it had increased its non-performing loan (NPL) provisions to Rp 400.4 billion (US$28.6 million) as of June 30, from Rp 213.21 billion at the end of last year.

Opponents decry return of U.S.

Opponents decry return of U.S. MANILA (AP): An agreement that would allow the resumption of joint U.S.-Philippine military exercises would violate Philippine sovereignty and revive anti-American sentiment, opponents said yesterday.

Unity and assimilation

Unity and assimilation I am very concerned that children aged 5 and under have witnessed the sad events in the world and in our own country. However, when I read the last couple of lines of the poem From Indonesia with Love, June 28, I took courage from it.

Skeleton RI team to compete in Asiad

Skeleton RI team to compete in Asiad JAKARTA (JP): Cash-strapped Indonesia may have no choice but to send a tiny team of 52 athletes to the 13th Asian Games in Bangkok in December, a National Sports Council official has said.

Nobel prize laureates

Nobel prize laureates East Timor's Bishop Belo came to Jakarta the other day and met with Moslem leader Abdurrahman Wahid and the Indonesian Democratic Party's ousted leader Megawati Soekarnoputri.What they discussed and the statement they issued jointly after the meeting are already known to you.

Two strategic alliances in the making?

Two strategic alliances in the making? Members of Nahdlatul Ulama have announced their declaration of the establishment of the Partai Kebangkitan Bangsa (People's Awakening Party). Unlike similar events in recent weeks, the birth of the People's Awakening Party has attracted much attention from...

Direct investment still flowing to RI: Hamzah

Direct investment still flowing to RI: Hamzah SINGAPORE (Reuters): Indonesia's State Minister of Investment, Hamzah Haz, said here yesterday that trade and investment into the country had not been completely halted by the economic crisis, despite some credit financing problems.

Oil firms unlikely to rush into RI: Analysts

Oil firms unlikely to rush into RI: Analysts SINGAPORE (Reuters): Burdened by the economic crisis and low prices, oil companies are unlikely to rush in to capitalize on the Indonesian government's move to throw open its oil and gas sector, analysts said yesterday..

Bakrie Securities returns

Bakrie Securities returns JAKARTA (JP): PT Bakrie Securities, a brokerage arm of the Bakrie Group, announced yesterday it had resumed operation on the Jakarta Stock Exchange after it was temporarily suspended due to inadequate net weighted working capital.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 24, 1998: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 350 0 0 AHAP Insurance 575 0 0 Alter Abadi 550 25 10,000 Alumindo Light Metal 300 0 310,000 Alumindo...

Another cancer scare for Ong

Another cancer scare for Ong SINGAPORE (Reuters): Singapore President Ong Teng Cheong began chemotherapy treatment yesterday after a lymph node biopsy showed a recurrence of lymphoma, a statement from Ong's office said.

Several firms to vie for troubled Kia Motors

Several firms to vie for troubled Kia Motors SEOUL (Reuters): Ford Motor Co and other foreign companies yesterday submitted letters of intent to bid for South Korea's troubled Kia Motors and its sister firm, Asia Motors Corp, a Kia spokesman said.

Japanese firm to start subway project next year

Japanese firm to start subway project next year JAKARTA (JP): Itochu Corp. of Japan has pledged to start the construction of the repeatedly delayed 14.5-kilometer subway project next year, Governor Sutiyoso said yesterday.

Open-air movie workers protest

Open-air movie workers protest JAKARTA (JP): More than 20 managers and workers at open-air movie theaters visited the National Commission on Human Rights yesterday to protest intimidation from police officers and soldiers.Sonny P.

Stocks rebound as rupiah stays flat against dollar

Stocks rebound as rupiah stays flat against dollar JAKARTA (JP): The rupiah was stable yesterday at the 14,000 level against the U.S. dollar while stock prices made a surprise 1.2 percent gain on improving sentiment in regional markets, dealers and stockbrokers said.

IBM puts off Manila project

IBM puts off Manila project MANILA (AP): IBM has temporarily dropped plans to build a $1 billion silicon wafer plant in the Philippines.Lawrence Qua, president of Philippine electronics concern Ionics Circuits Inc.

Govt announces plan to liberalizes sugar trade

Govt announces plan to liberalizes sugar trade JAKARTA (JP): The government announced yesterday it would liberalize the domestic sugar trade and assigned the State Logistics Agency (Bulog) to stabilize market prices.

New parties warned of sectarianism

New parties warned of sectarianism JAKARTA (JP): Two Moslem figures have come out behind the establishment of religion-affiliated political parties, but a political observer has warned against dangers of sectarianism.

Three die in house fire

Three die in house fire UJUNGPANDANG, South Sulawesi: A mother of four was burned alive trying to save two of her children, who also died, after their house caught fire here on Thursday night.Yohanna and her four children were asleep when the fire broke out and quickly spread through their small...

Thames Water flushes pipeline

Thames Water flushes pipeline JAKARTA (JP): Thames Water International has started cleaning sediment from water pipelines in several areas in East Jakarta as part of its cooperation with city-owned drinking water company PDAM Jaya, the company said yesterday.

East Timor

East TimorFrom Pikiran RakyatIn order to solve the East Timor problem, which is becoming increasingly complicated, we must think in a more realistic way by trying to put ourselves in the place of those who are anti- integration.

Irian, Riau groups demand share of mining royalties

Irian, Riau groups demand share of mining royalties JAKARTA (JP): Several non-governmental groups have demanded that the government split earnings from mining, oil and gas operations in Irian Jaya and Riau with the two provinces.

Audi to buy Lamborghini

Audi to buy Lamborghini BONN (Dow Jones): Audi AG, a wholly owned unit of Volkswagen AG, said yesterday it signed a contract to buy Italian sports car manufacturer Lamborghini SpA.Audi signed a letter of intent to purchase Lamborghini on June 12.

Yoyga governor hits 91, or 88?

Yoyga governor hits 91, or 88? YOGYAKARTA: Governor Paku Alam VIII celebrated his 91st birthday according to the Javanese calender yesterday.He was born here on Sunday Pon 29 Mulud 1840 of the Javanese calender, which this year fell on July 24.

Women's joint prayer held to end years of violence

Women's joint prayer held to end years of violenceBy Stevie Emilia JAKARTA (JP): Rain usually makes one stay at home, but not last Thursday evening, when hundreds of people, mostly women, flocked to the Nyai Ageng Serang women's building in Kuningan, South Jakarta, praying together to end years of...

German bank to give DM300 million loan

German bank to give DM300 million loan JAKARTA (JP): German bank Kreditanstalt fr Wiederaufbau (KfW) agreed here yesterday to provide loans worth DM300 million (about US$168.5 million) to Indonesia's private sector.

ASEAN must 'lead reshaping' of world financial system

ASEAN must 'lead reshaping' of world financial system MANILA (Agencies): New Philippine President Joseph Estrada urged Southeast Asian nations yesterday to take the lead in reshaping the world financial system to ensure that Asian-style currency crises are not repeated.

Easing the choking debt

Easing the choking debt The government has started to sell to corporate debtors the overall foreign debt restructuring package under the June 4 Frankfurt agreement which will become effective early next month.

UN gives more aid to ASEAN

UN gives more aid to ASEAN MANILA (AP): The United Nations promised an additional US$6 million in aid to Southeast Asia yesterday to help alleviate poverty, create jobs and fight environmental pollution during the next three years.

Show displays street children's creativity

Show displays street children's creativity JAKARTA (JP): A group of street children are taking time out from the rat race to show off their creativity during a four-day exhibition at the Jakarta Arts Institute that will end Monday.

Tanjung denies role in kidnapping of activists

Tanjung denies role in kidnapping of activists JAKARTA (JP): Gen. (ret.) Feisal Tanjung has denied any involvement in a spate of abductions and torture of political activists, which occurred when he was the Armed Forces (ABRI) chief and were allegedly committed by members of the military.

Govt urged to cancel plan to raise telephone tariffs

Govt urged to cancel plan to raise telephone tariffs JAKARTA (JP): Legislators have urged the government to cancel a plan to raise telephone tariffs for local calls over more than 30 kilometers within Greater Jakarta.

Soeharto's mansion fund

Soeharto's mansion fund Has Mr. Soeharto no shame? Disgraced, ousted former president Soeharto has asked that as a former president he be given a cash allowance of Rp 26.5 billion in lieu of housing for his needs.

First troops to leave Timor early next week

First troops to leave Timor early next week JAKARTA (JP): One thousand troops are to begin leaving East Timor next week in what is expected to be the start of a gradual reduction of forces in the province.Armed Forces spokesman Maj. Gen.

Indonesian legislators meet U.S. lawmakers

Indonesian legislators meet U.S. lawmakers WASHINGTON (JP): A three-member delegation from the Indonesian House of Representatives met with United States lawmakers here in an attempt to build closer relations and provide more factual information about developments in their country.

Ulemas urged to issue edict on gambling

Ulemas urged to issue edict on gambling JAKARTA (JP): The Indonesian Consumers Foundation urged the Indonesian Ulemas Council yesterday to issue an edict on gambling following a proposal by the National Sports Council to reinstate a lottery to raise funds for sports.

Television aiding sports development

Television aiding sports developmentBy Antariksawan Jusuf JAKARTA (JP): Television and sports have evolved into a mutually beneficial association, and in a developing nation like Indonesia, television sometimes becomes the backbone of sports development.

Police told to question developer

Police told to question developer JAKARTA (JP): The State Minister of Public Housing and Settlements Office has asked police to investigate directors and commissioners of a housing development firm for alleged fraud.