Indonesian Political, Business & Finance News

Archive: 4 July 1998

54 articles found

Farming project on neglected land

Farming project on neglected land JAKARTA (JP): Governor Sutiyoso said that he and the city's five mayors are ready to act as guarantors for the public intending to allow the use of neglected land for the cultivation of vegetables or other secondary crops.

Ceanic works in Java Sea

Ceanic works in Java Sea HOUSTON (Dow Jones): Ceanic Corp. (DIVE) completed the installation of an offsea structure for GFB Resources (Java) Ltd. in the Java Sea north of Surabaya, Indonesia.In a press release Thursday, Ceanic said the structure has a 30-foot by 50-foot single elevation deck with a...

Sutiyoso's 'becak' blunder

Sutiyoso's 'becak' blunder Perhaps many of our readers have never seen the creature called a becak, the man-powered pedicab about which the Jakarta authorities have made much fuss lately.This long-forgotten (in the capital at least) means of public transportation, which is inhuman in the way it is...

Occupied office space continues to decline

Occupied office space continues to decline JAKARTA (JP): Occupied office space in the capital's central business district continued to decline in the second quarter of this year, according to property consultants.

RI's recovery 'depends on international confidence'

RI's recovery 'depends on international confidence' JAKARTA (JP): The recovery of Indonesia's crisis-hit economy will depend on the return of international confidence in the country, businessmen said yesterday.

MPR set to hold meeting on Nov. 10

MPR set to hold meeting on Nov. 10 JAKARTA (JP): The People's Consultative Assembly (MPR) will convene for an extraordinary meeting on Nov. 10 coinciding with National Heroes Day, it was announced yesterday.

Senior journalist denies he is Habibie's puppet

Senior journalist denies he is Habibie's puppet JAKARTA (JP): Senior journalist Parni Hadi was installed as the new general manager of the official news agency Antara yesterday, replacing Handjojo Nitimihardjo.

Autonomous police force 'unlikely soon'

Autonomous police force 'unlikely soon' JAKARTA (JP): Minister of Defense and Security/Armed Forces (ABRI) Commander Gen. Wiranto said yesterday the National Police would not likely be separated from ABRI any time soon because the move needed thorough preparation.

Helping RI students and the community

Helping RI students and the community One of major worries for parents now is the continuation of their children's education. This is true for parents who have, or wish to send, their children overseas as well as for parents who are educating their children in-country.

Bayonet-armed gang attacks vegetable vendors

Bayonet-armed gang attacks vegetable vendors JAKARTA (JP): A group of vegetable vendors at Kebayoran Lama market in South Jakarta were attacked by about 20 bayonet-armed men wearing Navy uniforms in the wee hours of yesterday morning, police said.

World Bank approves $1b loan to Indonesia

World Bank approves $1b loan to Indonesia WASHINGTON (Reuters): The World Bank on Thursday approved a US$1 billion loan to Indonesia and said an additional $6 billion from international donors should be ready soon.The $1 billion structural adjustment loan, part of a $4.

Indonesian Chinese issue

Indonesian Chinese issue It was just recently that President B.J. Habibie stated that Indonesia should no longer use the term pribumi (indigenous Indonesians) and non-pribumi (Indonesians of Chinese descent) to end racial discrimination toward Indonesian Chinese.

Bodies of accident victims claimed

Bodies of accident victims claimed BOGOR (JP): Relatives have claimed the bodies of five people killed in an accident on the Jagorawi toll road Thursday from the PMI General Hospital, a hospital employee said yesterday."No one was crying because those picking up the bodies were all men.

Lao PM visits crash victims' kin

Lao PM visits crash victims' kin HANOI (DPA): The prime minister of Laos, Sisavath Keobounphanh, will meet the families of victims of a May 25 Lao plane crash when he pays an official visit to Vietnam starting on Monday, officials in Hanoi said yesterday.

Foundations' funds

Foundations' fundsFrom RepublikaWe were startled by a statement made by a former vice president, Sudharmono, that the funds of four foundations led by former president Soeharto, amounting to Rp 2.4 billion, were deemed too insignificant to hand over to the government.

Spot prices for Indonesian heavy crude strengthen

Spot prices for Indonesian heavy crude strengthen SINGAPORE (Reuters): Spot prices of heavy Indonesian crude were supported as the remaining July barrels fetched firm premiums, traders said yesterday.An equity producer of heavy sweet Widuri was heard to have sold 100,00 to 200,000 barrels to a...

Mexico's Cemex preferred bidder for Semen Gresik

Mexico's Cemex preferred bidder for Semen Gresik JAKARTA (JP): The government has selected Mexico's Cemex SA de CV as the preferred bidder to purchase part of the government's 65 percent stake in publicly listed cement producer PT Semen Gresik.

DHL welcomes EC's move

DHL welcomes EC's move JAKARTA (JP): DHL International hailed yesterday the European Commission's decision to allow Deutsche Post AG to complete its purchase of 22.5 percent of the company.DHL said in a statement that it believed the investment and future cooperation between the two organizations...

New police chief vows to foil city's criminals

New police chief vows to foil city's criminals JAKARTA (JP): On his first day as National Police chief, Lt. Gen. Roesmanhadi yesterday vowed to continue his predecessor's program to secure the capital, which has been rocked by a series of armed robberies over the past few weeks.

Malaysia may turn to IMF, says Mahathir Mohamad

Malaysia may turn to IMF, says Mahathir Mohamad KUALA LUMPUR (AP): Malaysia may have to turn to the International Monetary Fund if government policies fail to steer the economy to recovery, Prime Minister Mahathir Mohamad said yesterday.

Big banks win out as forex market shrinks

Big banks win out as forex market shrinks SINGAPORE (Dow Jones): A year after the flotation of the baht signaled the start of Asia's descent into economic crisis, volatility in Southeast Asia's foreign exchange markets has soared but trading volumes have shrunk dramatically.

Archeological relics discovered in Banyumas

Archeological relics discovered in BanyumasBy Agus Maryono PURWOKERTO, Central Java (JP): Two statues of Buddha, possibly made of pure gold, were recently discovered in a grave in a forest near Cikakak village in Banyumas district.

Three wounded in Irian protest

Three wounded in Irian protest JAKARTA (JP): An intelligence officer and two students were injured when a proindependence demonstration on Cendrawasih University campus in the Irian Jaya capital of Jayapura turned violent yesterday, a media report said.

'Bung' Karno's assets abroad

'Bung' Karno's assets abroad In a recent TV report, Probosutedjo, former President Soeharto's half brother, claiming to act as spokesman for the Soehartos said, apparently in an effort to defend the family of the former president, that Soeharto had no assets abroad.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions* Fine Arts Exhibition: Langkah dan Spirit, in the Hall of The Japan Cultural Foundation, Summitmas I, 2nd Floor, Jl. Jend. Sudirman Kav. 61-62 South Jakarta, 10 a.m. to 6 p.m., until July 15. * Indian Photo Exhibition, in the National Museum, Jl.

North Jakarta mayor wants Kramat Tunggak closed down

North Jakarta mayor wants Kramat Tunggak closed down JAKARTA (JP): North Jakarta Mayor Soebagyo has asked the governor to immediately close the city's only officially recognized red-light district, Kramat Tunggak in North Jakarta.

Hasan questioned on cartel funds

Hasan questioned on cartel funds JAKARTA (JP): Timber tycoon Mohamad "Bob" Hasan was questioned for about three hours by the Attorney General's office here yesterday over fees collected by a plywood cartel that he once headed.

Palm oil prices unchanged

Palm oil prices unchanged LONDON (Reuters): Reports that Indonesia plans to increase its export duty on crude palm oil to 50-60 percent from 40 percent had little immediate impact in Europe yesterday morning.Crude palm oil opened unchanged despite the rumors.

Local markets continue to gain in strength

Local markets continue to gain in strength JAKARTA (JP): The Indonesian financial market yesterday sealed the week's gaining streak with the rupiah strengthening to 14,550 against the U.S. dollar and the stock market inching up 0.9 percent yesterday.

Govt to raise export taxes on CPO to between 50% and 60%

Govt to raise export taxes on CPO to between 50% and 60% JAKARTA (JP): The government will raise the export taxes on crude palm oil (CPO) and its by-products to between 50 percent and 60 percent from next week to prevent a further increase in cooking oil prices, a senior trade official said here...

Indonesia debt roadshow to start on Wednesday

Indonesia debt roadshow to start on Wednesday NEW YORK (Dow Jones): Indonesia will kick off on July 8 in New York a roadshow to market a plan to exchange between $8 billion and $10 billion in debt contracted by the country's financial institutions into new loans, a source familiar with the offer...

OPEC basket price rise

OPEC basket price rise LONDON (Reuters): The price of OPEC's basket of seven crudes rose slightly to US$11.87 on Thursday from $11.80 on Wednesday, the OPEC news agency said quoting the OPEC Secretariat.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 3, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 375 -50 15,500 AHAP Insurance 575 0 0 Alter Abadi 475 0 169,500 Alumindo Light Metal 325 0 0 Alumindo...

Investigate the deaths

Investigate the deaths To draw international sympathy and trust, the government has recently stated the need to investigate the 1975 deaths of five foreign reporters in East Timor. They were Malcom Rennie, Brian Peters, Greg Shackleton, Tony Stewart and Gary Cunningham.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 3, 1998: Buying Selling Rp Rp U.S. dollar 1 14,100.00 15,100.00Austrian shilling 1 1,071.00 1,223.60Australian dollar 1 8,733.00 9,345.00Belgian franc 1 378.30 402.30Canadian dollar 1 9,666.

Unions must register with the government

Unions must register with the government JAKARTA (JP): The government has confirmed that workers can establish their own unions but on condition that the unions be registered with the Ministry of Manpower.

Golkar executive board condemned

Golkar executive board condemned JAKARTA (JP): The Golkar board of patrons blasted its executive board yesterday for being late in anticipating and responding to calls for reform.The meeting, chaired by President B.J.

Govt demands no part of new mining plants

Govt demands no part of new mining plants JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto said yesterday that the government would not demand a stake in the country's future mining projects despite a planned change in their contracts.

UN envoy due here to brief on Timor

UN envoy due here to brief on Timor JAKARTA (JP): United Nations special envoy for East Timor Jamsheed Marker will arrive here on July 14 to brief officials on his meeting with the Portuguese government, who reportedly gave a "positive" response to Indonesia's proposal on special autonomy status...

Providing educational advisory service

Providing educational advisory service The American-Indonesian Exchange Foundation (AMINEF) was established in 1987 to administer the Fulbright Program in Indonesia, and has brought the U.S.-Indonesian program a higher level of cooperation and local involvement.

Senayan complex 'only for sports'

Senayan complex 'only for sports' JAKARTA (JP): Minister/State Secretary Akbar Tandjung reiterated yesterday that the land in Senayan, Central Jakarta, was only meant to accommodate sports activities.Akbar however welcomed any parties interested in managing the land for profit-seeking purposes.

Villagers forced to eat dried corn

Villagers forced to eat dried corn PURWOKERTO, Central Java: The unaffordable price of rice and other essential commodities here has forced hundreds of villagers in the Sumbang subdistrict of Banyumas regency to eat boiled ears of dried corn as a substitute for rice over the past month.

Providing professional human resources development

Providing professional human resources development During the past decade, Northeastern University (NEU), Boston, Massachusetts, U.S., in cooperation with Indonesia, conducted 21 semiannual consultations in Indonesia on the advantages of work- integrated-learning, or cooperative education (co-op).

Habibie revokes Soeharto's rules on foundations

Habibie revokes Soeharto's rules on foundations JAKARTA (JP): President B.J. Habibie has revoked all presidential decrees and instructions issued by former president Soeharto which mandate financial contributions to government- linked foundations, senior officials said yesterday.

Extortion practices in wood transportation criticized

Extortion practices in wood transportation criticized JAKARTA (JP): A city councilor expressed concern yesterday about the frequency with which owners of vessels transporting sawn timber from outer islands into Jakarta were forced to pay illegal levies.

Hunger brings political apathy to nation

Hunger brings political apathy to nationBy Asip A. Hasani YOGYAKARTA (JP): At the height of student protests in May, Gadjah Mada University rector Ichlasul Amal distinguished himself as a strong supporter of the proreform movement.

Man with strongest teeth

Man with strongest teeth SEMARANG: The Museum of Indonesian Records has recorded four new entries.Achmad Chambali of Lamongan, East Java, was entered into the records after he demonstrated he was able to peel 66 coconuts with his teeth within three hours.

Police officer candidate for village chief

Police officer candidate for village chief BOGOR (JP): The Bogor Mayoralty Office has promised to revoke a decision made by the Bubulak village chief election committee in West Bogor which annulled the participation of a candidate from the police force.

Bugaboos of the reform movement

Bugaboos of the reform movementBy Usadi Wiryatnaya JAKARTA (JP): To the idealist, a genuine democratic system of government means unyielding commitment to the empowerment of the people, law enforcement and human rights implementation.

Brothel closures bring problem

Brothel closures bring problem SEMARANG: Following the recent closure of the two largest red- light districts in the city, prostitutes roam the streets at night, prompting worry over the spread of sexually transmitted diseases.

Coping with the cross-cultural problems in the business world

Coping with the cross-cultural problems in the business world It takes more for a company to be successful internationally than a quality product and high manufacturing standards. There is a human factor that must be considered.

Governor sets aside Rp 50m to drive 'becak' out of city

Governor sets aside Rp 50m to drive 'becak' out of city JAKARTA (JP): Governor Sutiyoso was forced yesterday to set aside Rp 50 million (US$3,333) to pay to transport becak (pedicabs) from Jakarta to whence they came.

Toray vows to maintain Indonesian operation

Toray vows to maintain Indonesian operation TOKYO (Reuters): Toray Industries Inc pledged yesterday that the company would not withdraw from Indonesia or move its production bases to other countries despite the economic crisis in the country.

Labor intensive program kicked off

Labor intensive program kicked off JAKARTA (JP): Governor Sutiyoso kicked off on Thursday the city's labor intensive program aimed at providing job opportunities to the unemployed and anticipating the impact of the current dry season.