Indonesian Political, Business & Finance News

Archive: 8 July 1998

61 articles found

Thai monk gives $1.2m to govt

Thai monk gives $1.2m to govt BANGKOK (AP): A Buddhist monk donated US$1.2 million to help the government overcome an economic downturn Monday, a day after he handed over 400 pounds of gold for the same cause.

SEAG consortium refuses to repay reforestation funds

SEAG consortium refuses to repay reforestation funds JAKARTA (JP): The 19th Southeast Asian Games underwriting consortium has refused to repay the reforestation funds it reportedly used for the sporting event.

Habibie's legitimacy questioned

Habibie's legitimacy questionedBy Ignas Kleden JAKARTA (JP): Though B.J. Habibie seems to have taken over the office of president very easily, smoothly and quickly, he is now beset by the heavy and protracted question of his legitimacy and legality.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 7, 1998: Shares Close Change Volume ----------------------------------------------------------- Ades Alfindo 375 0 0 AHAP Insurance 575 0 0 Alter Abadi 475 0 316,000 Alumindo Light Metal 325 0 0 Alumindo Perkasa 200 0 0...

New party needed?

New party needed?From Media IndonesiaThe necessity of a new political party is a hot topic of discussion in our community at present. It is in fact not important who first brought up the subject. It is also not important under what circumstances the idea first occurred.

Hipmi urged to fill the many distribution chain vacancies

Hipmi urged to fill the many distribution chain vacancies JAKARTA (JP): President B.J. Habibie said yesterday in a meeting with executives of the Association of Young Indonesian Businessmen that they should fill the vacancies in the business distribution chain created by fleeing nonindigenous...

Military command withdraws troops

Military command withdraws troops JAKARTA (JP): The Jakarta Military Command has started to withdraw, in stages, half of its 5,500 personnel from the streets and visible public areas, according to an official.The command's spokesman Lt. Col. DJ.

KL minister spurns S'pore demand

KL minister spurns S'pore demand KUALA LUMPUR (AP): Malaysia's minister of tourism has refused to apologize after criticizing Singapore for allegedly excluding Malaysia from a list of coveted tourist destinations, a local newspaper reported yesterday.

Cambodia on ASEAN agenda after polls

Cambodia on ASEAN agenda after polls MANILA (DPA): Cambodia's membership in the Association of Southeast Asian Nations (ASEAN) may be discussed before the group's leaders hold a summit in December if a fair and peaceful Cambodian election is held on July 26, a top Philippine official said yesterday.

Prosecutors demand 10 and 7 months for Trisakti defendants

Prosecutors demand 10 and 7 months for Trisakti defendants JAKARTA (JP): Prosecutors at the military tribunal investigating the Trisakti shooting incident demanded prison sentences for two police officers who ordered their men to shoot into the crowd of demonstrators.

Gadjah Mada offers studies on Mideast

Gadjah Mada offers studies on Mideast YOGYAKARTA: Gadjah Mada University in cooperation with the Ministry of Foreign Affairs will establish a center for Middle Eastern Studies here.A memorandum of understanding has been signed by the university's rector, Ichlasul Amal, and Djohan S.

KL airport dumps food daily

KL airport dumps food daily KUALA LUMPUR (AP): Export consignments of vegetables, fish and even tortoises are being thrown into a garbage dump because the city's new airport is overwhelmed by cargo, a newspaper reported yesterday.

Assets contract by Rp 41.78t

Assets contract by Rp 41.78t JAKARTA (JP): Bank Indonesia's net domestic assets (NDA) shrank to minus Rp 74.816 trillion as of July 3, representing a monetary contraction of Rp 41.782 trillion from the previous week.

Southeast Asian currencies strengthen

Southeast Asian currencies strengthen SINGAPORE (Dow Jones): Southeast Asian currencies yesterday ended flat to a touch stronger against the U.S. dollar, supported by the relative stability of the yen despite deteriorating sentiment towards the region.

232 Jakartans resettled in Riau

232 Jakartans resettled in Riau JAKARTA (JP): The city administration has relocated 232 people to Bengkalis, Riau, under the state-sponsored transmigration program.The 56 families, mostly from slum areas forced to make way for development projects, departed last week after a modest ceremony...

Rubin tells ailing Asia to hang tough

Rubin tells ailing Asia to hang toughBy Knut Engelmann WASHINGTON (Reuters): A year after much of Asia descended into economic chaos, the chief architect of the West's massive rescue effort had a simple message for the fallen tigers: things may be tough, but hang in there.It took U.S.

New military leaders installed

New military leaders installed JAKARTA (JP): Jakarta Military Commander Maj. Gen. Sjafrie Sjamsoeddin installed the new commanders of the First Air Defense Artillery Regiment and the Artillery Unit Battalion 7/105 at the Jakarta Military Headquarters here yesterday.Lt. Col.

Police arrest Pakistani man for faking immigration papers

Police arrest Pakistani man for faking immigration papers JAKARTA (JP): A 31-year-old Pakistani has been apprehended by Central Jakarta police detectives at his boarding house on Jl. Karang Anyar for allegedly counterfeiting immigration documents and official stamps.Central Jakarta Police chief Lt.

Experts decry Habibie's call on people to fast

Experts decry Habibie's call on people to fast PURWOKERTO, Central Java (JP): Observers have slammed President B.J. Habibie's call for people to fast to help save rice, stating that concrete policies and political stability, not mere rhetoric, are needed to resolve the crisis.Economist A.

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: Silverhawks 3:05 Family's Film: Road to Avonlea 4:00 Regional News 4:30 Teen Program: Remaja Indonesia 5:00 Science and Technology Film 5:30 Education Quiz: Cepat Tepat 6:05 My Country: Rona...

565 students get ADB scholarships

565 students get ADB scholarships JEMBER, East Java: Five hundred and sixty five students from the state University of Jember will receive scholarships from the Asian Development Bank (ADB) in the new academic year, a university spokesman said.He said 38 students would each receive Rp 1.

CPO export tax upped to 60 percent

CPO export tax upped to 60 percent JAKARTA (JP): The government has raised export taxes on crude palm oil (CPO) and some of its by-products to as much as 60 percent in another attempt to discourage exports, Minister of Industry and Trade Rahardi Ramelan said yesterday.

Indonesian company sells big hotel

Indonesian company sells big hotel HONG KONG (Dow Jones): An Indonesian company has sold an upscale hotel in Melbourne to Sydney-based Southern Pacific Hotel Corp. group, a hotelier owned by Chicago's prominent Pritzker family.

Former Malaysian official dies

Former Malaysian official dies KUALA LUMPUR (Reuters): Malaysia's former central bank governor and prominent business leader Ismail Ali has died due to complications from flu. He was 79.Newspapers said yesterday that Ismail, who was also Prime Minister Mahathir Mohamad's brother-in-law, was...

Asian markets climb as Japan tax puzzle clears

Asian markets climb as Japan tax puzzle clears SINGAPORE (Reuters): Asian markets ended broadly higher yesterday as Japan's dithering policy makers swung back towards tax cuts and traders welcomed some rare spots of positive news.

Housing customers to sue developer

Housing customers to sue developer JAKARTA (JP): Hundreds of customers threatened yesterday to sue a private housing developer of the Bank Harapan Sentosa (BHS) Group for failing to meet its obligation to build a housing complex in Bogor regency.

Pedicab drivers demand to ply narrow streets

Pedicab drivers demand to ply narrow streets JAKARTA (JP): About 2,000 becak (pedicab) drivers pedaled their three-wheeled vehicles to Jakarta City Hall yesterday morning to urge the authorities to allow them to operate in the city's alleys and narrow streets.

CPO price jumps US$20 per ton

CPO price jumps US$20 per ton LONDON (Reuters): Crude palm oil prices reached about US$20 a ton up at the opening of the European vegetable oil market yesterday following news that Indonesia is to raise export duty on crude palm oil (CPO) and that India is to tender to buy palm olein.

Percussion festival to cheer up Jakarta Fair

Percussion festival to cheer up Jakarta Fair JAKARTA (JP): Fewer music festivals are held these days, but the Jakarta Percussion Festival '98 (Jakperc '98) is one to look forward to.Various groups are scheduled to perform at the festival, which will be held at the Jakarta Fairground, Kemayoran,...

Complaints PO Box gets good public response

Complaints PO Box gets good public response JAKARTA (JP): Two weeks after being launched, the post office box set up by the city administration to receive complaints about the illegal activities of city employees has received 150 letters, an official said yesterday.

Uniforms business not for principals

Uniforms business not for principals TANGERANG (JP): The mayoralty's education and culture office has banned all high school principals from involvement in the provision of school uniforms and textbooks.

The myth about the Chinese-Indonesians

The myth about the Chinese-Indonesians Some say many goods have become scarce or expensive because their distributors, mostly traders of Chinese descent, have fled the country. Economist Kwik Kian Gie says this is a myth created to discredit Chinese-Indonesians.

Indian films portray today's social concerns

Indian films portray today's social concerns JAKARTA (JP): Indian movies on issues of social concern and related discussions are being held this week at Teater Utan Kayu (TUK), Jl Utan Kayu 68H, East Jakarta. Below is a synopsis of two of the five films.Bandit Queen (July 12, 4 p.m.

Freshly printed rupees cause unease

Freshly printed rupees cause uneaseBy Simon Cameron-Moore BOMBAY (Reuters): Inflation in India, where poor voters get touchy about the price of onions, is edging toward the high end of its comfort zone.Consumer prices for industrial workers rose 10.5 percent in the year to May, after an 8.

Pakistan's debt moratorium

Pakistan's debt moratorium ISLAMABAD (Reuters): Pakistani Finance Minister Sartaj Aziz said yesterday that the government might have to consider a moratorium on its US$30 billion debt in three months if sanctions blocked foreign exchange flows to service it.

Inhutani I's profit up

Inhutani I's profit up JAKARTA (JP): State timber firm PT Inhutani I reported yesterday a pretax profit of Rp 21.6 billion (US$1.54 million) in the first semester of this year, up 8 percent from the Rp 20.4 billion in the same period last year.

Where to go in Bandung:

Where to go in Bandung:Exhibitions * Art exhibition: Works of Agus Suwage, at Galeripadi Jl. Ir. H. Juanda 329 Bandung (Phone: 022 2500578), Tuesday to Sunday, 10 a.m. to 4 p.m., until July 19. * Painting Exhibition by Roedyat Martadiradja, Tatang Ganar, Marilies Forster, Elly Roedyat, etc, in the...

House backs UN convention approval

House backs UN convention approval JAKARTA (JP): The House of Representatives for the first time used its right of initiative yesterday to set forth a motion for the ratification of the United Nations Convention Against Torture signed by the government a decade ago.

Rupiah weakens slightly but stocks get stronger

Rupiah weakens slightly but stocks get stronger JAKARTA (JP): The rupiah weakened slightly against the U.S. dollar yesterday following some selling from state banks, while the stock market maintained its strength as a result of investors' continuing to buy stocks in certain state-owned firms.

Diseases plague coastal residents

Diseases plague coastal residents TANGERANG (JP): Health officials have reported a high incidence of skin diseases and respiratory infections in northern coastal villages here caused by unhealthy living conditions.

Political doubts threaten tourism

Political doubts threaten tourism JAKARTA (JP): Indonesia might have to reduce its 1998 tourist revenue target of US$5.75 billion if domestic political conflict continues, Director General of Tourism Andi Mappisameng said yesterday.

Losing dollars

Losing dollars Ever heard of losing dollars in a bank? Well it is possible. On May 18, I was in a rush. My embassy advised me to leave Indonesia because of possible unrest.So I went to my, I thought reliable, bank BCA, here in Yogyakarta.

Over 116,000 face starvation

Over 116,000 face starvation BANDA ACEH, Aceh: A senior local official reported yesterday that 116,252 people in Indonesia's westernmost province were facing starvation because of continuing drought.Djoko Santoso from the local social ministry office told Antara that the drought, which started late...

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 7, 1998: Buying Selling Rp Rp U.S. dollar 1 14,200.00 15,200.00Austrian shilling 1 1,082.10 1,235.50Australian dollar 1 8,788.30 9,399.20Belgian franc 1 382.40 406.40Canadian dollar 1 9,715.

Economy shrinks for first time in 30 years

Economy shrinks for first time in 30 years JAKARTA (JP): Indonesia's economy plunged into negative growth for the first time in 30 years in the January-June period of this year, with a 12.3 percent contraction in the economy as compared to the same period in 1997, the Central Statistics Agency...

Riot victims

Riot victims Reports that the ethnic Chinese community has become the victim of rioting, looting and systematic rape will certainly break everybody's heart. I cannot imagine how I would feel if those things happened to me, my family, or my friends.

Thai power demand drops

Thai power demand drops BANGKOK (Reuters): Thai electricity demand will contract for the first time in 35 years in 1998 as the country's worst economic crisis takes its toll, the head of the state power authority said yesterday.

Bengkel's first anniversary

Bengkel's first anniversary JAKARTA (JP): Bengkel Nightpark, one of the city's main entertainment centers, celebrated its first anniversary with modest but appealing events from July 3 through July 5.The main attractions for the 2,000 guests were street shows by a performing monkey and blazing fire...

Very risky generosity

Very risky generosity When this country faced a dire economic crisis under president Sukarno in the early 1960s, many people said that had the crisis hit one of our neighbors it would have collapsed.However, there is no comparing that crisis with today's economic catastrophe in that our country...

Teaching good from bad

Teaching good from badFrom KompasSchools from kindergarten to senior high have not had the subject of budi pekerti (ethics) in their curriculum for over 20 years. This subject is essential because it teaches students to tell the good from the bad.

Golkar chair still a coveted trophy

Golkar chair still a coveted trophyBy Imanuddin JAKARTA (JP): Golkar leaders from central and regional chapters began checking into rooms at Hotel Indonesia last night ahead of tomorrow's extraordinary congress that will determine much of the dominant political group's future.

Pertamina's unpaid debts reach US$732m

Pertamina's unpaid debts reach US$732m JAKARTA (JP): State oil and gas company Pertamina has arrears of about US$732 million to crude and fuel importers, shipping companies and gas suppliers.Pertamina president Soegianto said the company was behind in debt payments because it had yet to receive...

Botanical Gardens raises environmental awareness

Botanical Gardens raises environmental awarenessBy Yudha Kartohadiprodjo BOGOR, West Java (JP): In the middle of Bogor Botanical Gardens, on the banks of a pond filled with gigantic water lily, a small group of high school students were holding a discussion on the impact of the greenhouse effect on...

Mar'ie on shortlist for audit agency

Mar'ie on shortlist for audit agency JAKARTA (JP): Former minister of finance Mar'ie Muhammad is on a shortlist of three approved by the House of Representatives yesterday to chair the Supreme Audit Agency (BPK).

Rates for Tax Payment

Rates for Tax Payment JAKARTA (JP): The new official conversion rates as the basis for payment of import duty, value-added tax on goods and services, sales tax on luxury goods, export tax and income tax, valid from July 6 to July 12 : U.S. dollar 1 Rp 14,400.00Austrian shilling 1 1,130.

Wiranto deplores separatist demos in Irian Jaya

Wiranto deplores separatist demos in Irian Jaya JAKARTA (JP): Minister of Defense and Security Affairs/Armed Forces (ABRI) Commander Gen. Wiranto said yesterday that the hoisting of the separatist West Papuan flag in Irian Jaya was an act of treachery.

SIA, Pratt & Whitney deal

SIA, Pratt & Whitney deal SINGAPORE (DPA): Singapore Airlines (SIA) and the U.S.-based firm Pratt & Whitney yesterday launched a joint venture to overhaul commercial jet engines in Asia.The new company, Eagle Services Asia, is based in Singapore with SIA as its anchor customer.

Mutual funds investing in RI make progress

Mutual funds investing in RI make progress NEW YORK (Dow Jones): Overseas mutual funds investing in Indonesia and Japan made progress during the last week, weathering the turbulent financial markets in Asia.

No party admits responsibility for concert chaos

No party admits responsibility for concert chaos JAKARTA (JP): The police and Nahdlatul Ulama (NU) officials blamed each other yesterday for the rioting that followed chaos at a concert here Monday night.

Golkar to end chief patron's veto right

Golkar to end chief patron's veto right JAKARTA (JP): Golkar is set to rid itself of the board of patrons, currently chaired by former president Soeharto, when it convenes an extraordinary congress here tomorrow.

Kontras to report missing persons cases to UN body

Kontras to report missing persons cases to UN body JAKARTA (JP): The independent Commission for Missing Persons and Victims of Violence (Kontras) will report the recent spate of kidnappings of political activists to the Geneva-based United Nation (UN) Rights Commission in September.