Indonesian Political, Business & Finance News

Archive: 30 July 1998

58 articles found

Don't criticize your host

Don't criticize your host I have been following with a kind of twisted fascination a series of letters that have graced your paper over the past several months and feel a need to comment, thus assuring your readership that not all expatriates share the same opinions.

Thames Water obtains credits

Thames Water obtains credits JAKARTA (JP): Thames Water International of Britain announced in a statement yesterday that it had received credit facilities of US$200 million to upgrade and expand the water supply system in the eastern half of the capital.

Export funding scheme 'needs clarification'

Export funding scheme 'needs clarification' JAKARTA (JP): The mechanism for the government's latest measure to provide Rp 2.5 trillion (about US$185 million) in export loans through 21 banks has yet to be clarified, according to an official from a participating bank.

Stocks, rupiah buoyed by optimism over CGI talks

Stocks, rupiah buoyed by optimism over CGI talks JAKARTA (JP): Market optimism that international lenders will provide a significantly larger loan to Indonesia this year continued to keep the rupiah and stock prices on the Jakarta Stock Exchange (JSX) buoyant yesterday.

AMINEF'S unfair treatment

AMINEF'S unfair treatment I went to the American-Indonesian Exchange Foundation (AMINEF) recently to find out more about a Fulbright scholarship, which I had read about on the Internet. The scholarship is for 1999/2000. Due date for applications is July 31.

RI enters soybean market

RI enters soybean market CHICAGO (Reuters): Indonesia is thought to be seeking between 60,000 and 150,000 tons of soybeans later this week, which would likely be U.S. origin, U.S. exporters said.Details of the tender were sketchy, but U.S.

Crisis blocking the road to ASEAN democracy

Crisis blocking the road to ASEAN democracy An economic crisis concentrates Asian minds powerfully on the other issues which are usually brushed aside. On Tuesday in Manila, the nine-member ASEAN grouping joined with its Western partners to set up a forum on the social costs of economic failure.

U.S. Islamic scholar to give lecture here

U.S. Islamic scholar to give lecture here JAKARTA (JP): Alwi Shihab, a visiting scholar at Hartford Seminary, the U.S., who is now visiting Indonesia, is scheduled to speak at a meeting here on Sunday.The topic to be discussed at the meeting, to be held by New Muslims at the Ministry of Health's...

Politician demands evidence of gang rapes during riots

Politician demands evidence of gang rapes during riots JAKARTA (JP): A senior politician from the ruling Golkar political group has demanded activists who made allegations of gang rapes during the May riots present evidence to the authorities to prove their case.

Six private banks agree to merge soon

Six private banks agree to merge soon JAKARTA (JP): Six private banks -- Bank Aspac, Bank Indotrade, Bank Lautan Berlian, Bank Patriot, Bank Tata and Bank Uppindo -- will merge early next year to boost their performance.

Airport customs official seize 1,020 snakes

Airport customs official seize 1,020 snakes JAKARTA (JP): Soekarno-Hatta International Airport customs and excise officers and the airport animal quarantine center have foiled an attempt to smuggle 1,020 cobra snakes to China, an official said yesterday.The head of the quarantine center, Lukas A.

Newspaper workers file complaint

Newspaper workers file complaint JAKARTA (JP): About 20 workers and journalists of The Indonesia Times English daily, which ceased publication in January, went to the National Commission on Human Rights on Tuesday to complain about their status of employment.

Forestry and its contribution

Forestry and its contribution It has been argued that the forestry sector can provide an invaluable contribution to the economic crisis and to long-term development. It is true that it can play a significant role in recruiting a large number of workers, generating reforestation funds and in...

SE Asian currencies rise on yen's surge

SE Asian currencies rise on yen's surge SINGAPORE (Dow Jones): Southeast Asian currencies rose across the board Wednesday on the back of overnight gains in the Japanese yen.The yen got a boost more from the political problems of U.S.

More back separate national police force

More back separate national police force BANDUNG (JP): Observers have made fresh calls for the police to be separated from the rest of the Indonesian Armed Forces (ABRI) in order to provide people with legal certainty and professional service and to improve human rights protection.

Food stalls near Al-Azhar Grand Mosque to be relocated

Food stalls near Al-Azhar Grand Mosque to be relocated JAKARTA (JP): South Jakarta Mayor Pardjoko promised yesterday to relocate the growing number of sidewalk food stalls near Al- Azhar Grand Mosque in Kebayoran Baru because they were causing traffic congestion.

Asia told to fight corruption

Asia told to fight corruption MANILA (Reuters): The United States said yesterday it would encourage the return of investment to Asia but added that ailing countries must take the bitter "medicine of economic reform" and fight corruption.

EU Commission urges cotton dumping duties

EU Commission urges cotton dumping duties BRUSSELS (Reuters): The European Union's executive body said yesterday it proposed definitive anti-dumping duties averaging 12 percent on imports of unbleached cotton fabrics from five countries, including Indonesia.

RI not good for investment now: Taiwan official

RI not good for investment now: Taiwan official TAIPEI (Dow Jones): Taiwan will not halt its "Go South" policy in the wake of the atrocities committed against ethnic Chinese women during the May chaos in Indonesia, a senior official at the Ministry of Economic Affairs said yesterday.

M&A wave will hit Asian oil industry

M&A wave will hit Asian oil industry SINGAPORE (Reuters): A wave of mergers and acquisitions (M&A) will hit the Asian oil industry as profits shrink due to contracting oil demand in the next few years, a U.S. business consultant said on Tuesday.

Inco reports lower earnings

Inco reports lower earnings JAKARTA (JP): Publicly listed mining company PT International Nickel Indonesia (Inco) announced 1998 first-half net earnings of US$10.7 million, or four cents per share, compared to $17 million or seven cents per share during the same period last year.

Orphan babies still attracting sympathy

Orphan babies still attracting sympathyBy K. Basrie and Christiani SA Tumelap JAKARTA (JP): Times may be tough, but harsh realities of the crisis are not stopping compassionate members of the public from sharing what they can with children in orphanages.

Small states worry over nuclear tests

Small states worry over nuclear tests COLOMBO (Reuters): South Asia's smaller countries said yesterday that recent nuclear tests by their giant neighbors India and Pakistan had made nuclear disarmament a prime concern for the region.

Metal market strengthens

Metal market strengthens SINGAPORE (Reuters): Sentiment in Southeast Asia's base metals market improved after recent fund-buying in the West, but there are no signs of an immediate business pick-up in the Far East, traders said yesterday.

French multimedia show

French multimedia show JAKARTA (JP): French cultural company Culturel Espasse signed a Memorandum of Understanding (MOU) yesterday to invest US$5 million for the development of a multimedia show (MMS) project at Borobudur Temple, Central Java.

China concerned over Chinese-Indonesians

China concerned over Chinese-Indonesians BEIJING (Agencies): China is "strongly concerned" over the sufferings of Chinese-Indonesians victimized by looting and alleged rape in Indonesia's May riots, Foreign Ministry spokesman Tang Guoqiang said Tuesday, according to the Associated Press.

Honesty, silliness and the system

Honesty, silliness and the system Despite some progress being made, the continuation of making dishonest and silly policies by Habibie's government will extend and worsen the people's suffering during this multidimensional crisis that will probably provoke more riots in the near future.

Eight school principals fired for collecting illegal levies

Eight school principals fired for collecting illegal levies JAKARTA (JP): Eight principals of state junior and senior high schools in the capital have been dismissed for collecting illegal levies from students' parents, an official said Tuesday.

Street kids act out the plain realities of their lives

Street kids act out the plain realities of their livesBy Yudha Kartohadiprodjo JAKARTA (JP): Just as the prosperous and the pretentious alighted from their Mercedes-Benzs and BMWs to watch the renowned Teater Koma perform at Gedung Kesenian Jakarta, the capital's playhouse, a group of street...

House to rule on right to protest

House to rule on right to protest JAKARTA (JP): President B.J. Habibie agreed yesterday that the House of Representatives (DPR) would have the final say on the government regulation in lieu of a law on "freedom of expression" which he signed last Friday.

Street children highlight their plight at meeting

Street children highlight their plight at meetingBy Yogita Tahil Ramani JAKARTA (JP): Watching through tinted windows of cars, we cannot really begin to understand how desperately street children yearn for the basic necessities of life.Talk with them, and their concerns become a little clearer.

Where to go in Bali:

Where to go in Bali:Exhibition * Painting Exhibition: Images of Meditating Figures, by Jerry T, in Ganesha Gallery, Four Seasons Resort, Jimbaran (Phone: 0361 701010), Aug. 17 to Sept. 17.Music and entertainment * Grand Hyatt Bali, Nusa Dua (Phone: 0361 771234): - Pasar Senggol at 8 p.m. to 9 p.m.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 29, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 325 -25 8,000 AHAP Insurance 575 0 0 Alter Abadi 525 0 1,177,000 Alumindo Light Metal 325 25 122,000...

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 29, 1998: Buying Selling Rp Rp U.S. dollar 1 12,800.00 13,700.00Austrian shilling 1 980.70 1,117.30Australian dollar 1 7,734.30 8,223.60Belgian franc 1 347.00 367.30Canadian dollar 1 8,455.

Utut settles for a draw with Pavlovic

Utut settles for a draw with Pavlovic JAKARTA (JP): Grand Master (GM) Milos Pavlovic of Yugoslavia hung on against Indonesian GM Utut Adianto in the Biel Masters chess tournament in Switzerland, forcing the Indonesian to settle for a draw Tuesday.

World sugar prices steady on Indonesian news

World sugar prices steady on Indonesian news NEW YORK (Reuters): CSCE world sugar prices were called to open barely changed yesterday, with news Indonesia will hold a tender today for 200,000 tons of whites and 30,000 tons of raws said to be constructive, dealers said.

Bodies found near Biak 'may be shooting victims'

Bodies found near Biak 'may be shooting victims' JAKARTA (JP): Church officials and non-governmental organizations (NGOs) expressed their belief yesterday that a number of bodies found recently near Biak island, Irian Jaya, might be related to the military's shooting on pro-independence activists...

Flood toll may reach Rp 500m

Flood toll may reach Rp 500m KEDIRI, East Java: Material losses caused by the Mt. Kidul flash floods in Supit Urang River on July 23 reached more than Rp 500 million (US$35,714), Kediri Regent H. Suparyadi has said.

Australia likely to cancel Christmas Island casino lease

Australia likely to cancel Christmas Island casino lease CANBERRA (Dow Jones): The Australian government said yesterday it expects to begin a process of canceling Christmas Island Resort Pty. Ltd.'s lease on an A$80 million casino resort on the island, and resuming ownership of the property.

Housewife critically injured in daylight burglary

Housewife critically injured in daylight burglary JAKARTA (JP): A housewife was severely injured by an unidentified man who robbed her house on Jl. Poncol Lestari, South Jakarta, Tuesday morning, police said.South Jakarta detective chief Maj.

Habibie gives thumbs down to proposed lottery

Habibie gives thumbs down to proposed lottery JAKARTA (JP): The controversy surrounding a planned fund- raising scheme for sports deepened yesterday when President B.J. Habibie indicated he disapproved of the proposal.

Indonesia lures tourists with 'free' services

Indonesia lures tourists with 'free' services JAKARTA (JP): Foreign travelers arriving in Indonesia today will be entitled to transportation, one night in a hotel and a meal all for free as part of the government's campaign to lure foreign tourists back to the country.

Foreign newspapers allowed to print here, minister says

Foreign newspapers allowed to print here, minister says JAKARTA (JP): President B.J. Habibie has given landmark approval for the printing of two international newspapers here, Minister of Information Muhammad Yunus said yesterday.

Military pullout from E. Timor to continue

Military pullout from E. Timor to continue JAKARTA (JP): Armed Forces (ABRI) Commander Gen. Wiranto promised yesterday to continue with the phased reduction in military presence in East Timor, following the first round to withdraw an entire battalion of 1,000 soldiers starting this week.

Inflation may hit triple digits, economists warn

Inflation may hit triple digits, economists warn JAKARTA (JP): Senior economists warned here yesterday that the inflation rate might run into treble figures if the government fails to limit spending on subsidies and fortifying the ailing banking sector.

Kontras upholds demand to find missing activists

Kontras upholds demand to find missing activists JAKARTA (JP): The independent Commission for Missing Persons and Victims of Violence (Kontras) kept up pressure on the Armed Forces (ABRI) yesterday to find the 14 political activists who are still missing.

Private funds still needed 'to lead recovery process'

Private funds still needed 'to lead recovery process' JAKARTA (JP): Official loans would have only a short-term effect on Indonesia's economic recovery program and, therefore, the government should woo private funds to lead the recovery process, a noted economist has suggested.Mari E.

N-2130 jet plane project facing the axe

N-2130 jet plane project facing the axe JAKARTA (JP): PT Dua Satu Tiga Puluh (DSTP), a company formed by former president Soeharto to finance the development of the N- 2130 passenger jet under B.J. Habibie, will likely be liquidated later this year.

KL woos Indian, Chinese tourists

KL woos Indian, Chinese tourists KUALA LUMPUR (DPA): Malaysia is wooing tourists from China and India by easing visa rules in an effort to boost flagging tourist arrivals and bring in much-needed capital, a published report said yesterday.

ASEAN partners encourage regional self-reliance

ASEAN partners encourage regional self-reliance MANILA (AP): Apprehensive over desperate poverty and social unrest from the year-long financial crisis, Southeast Asian countries found at the end of talks yesterday with the United States, Europe and other rich nations that the limit on bailouts may...

'Old' gripes pour in on ABRI

'Old' gripes pour in on ABRI BANDARLAMPUNG, Lampung: The provincial military office has reportedly been inundated with complaints about infractions committed by Armed Forces (ABRI) officers, though most were classified as "old cases".Military police chief Lt. Col.

Rights Body promises to set up a team to help evicted people

Rights Body promises to set up a team to help evicted people JAKARTA (JP): The National Commission on Human Rights promised yesterday to urge the government to set up a team to settle land disputes dating back to former president Soeharto's 32 years in power.

Repeating the old folly

Repeating the old folly The low-profile National Sports Council is now back on a high- voltage mission to raise funds for the country's sports activities. By the end of the campaign in 2008, the council expects to raise Rp 100 billion (US$7.14 million).

Megawati's PDI sets goal for next year's election

Megawati's PDI sets goal for next year's election JAKARTA (JP): The Indonesian Democratic Party (PDI) faction loyal to ousted leader Megawati Soekarnoputri will contest the general election next year under their old banner rather than establish a new party, her supporters said yesterday.

Where to go in Surabaya:

Where to go in Surabaya:Music and Entertainment * Hyatt Regency Surabaya, Jl. Jend. Basuki Rakhmat 106-128 (Phone: 031 5311234): - The Tavern Pub: Dewata Band, Monday to Saturday, 9 p.m. to 1:30 a.m., X-Men Band, Sunday, 9 p.m. to 1:30 a.m. - Atrium Lounge: Solo Pianist, Monday to Friday, 7 p.m.

Ethnic Chinese at fault for riots

Ethnic Chinese at fault for riotsBy Masli Arman JAKARTA (JP): The May 13-14 violent riots here could well prove to be a major watershed in the history of the relationship between indigenous Indonesians and those of Chinese descent.

IBM launches Windows NT

IBM launches Windows NT JAKARTA (JP): IBM launched yesterday software products for businesses that use the user's work to make, install and manage their business applications.The company's business solution manager Ivandeva Irwantoro said the products would reduce the time wasted and cost of using...

House probes disappearances

House probes disappearances SIGLI, Aceh: A fact-finding team of the House of Representatives arrived in Pidie regency on Tuesday to start its investigation into reported disappearance of hundreds of people over the past decade.