Indonesian Political, Business & Finance News

Archive: 1 August 1998

61 articles found

Enhancing learning should be a lifelong process

Enhancing learning should be a lifelong process By Iwan Pranoto BANDUNG (JP): The word learning is almost always used in reference to activities in formal education, from kindergarten to university level. Rarely is it related with something people outside school or universities do. Even in classrooms, until 30 years to 40 years after World War II, teachers were only equipped with the theory of teaching, instead of theory of learning. But this is changing now.

State firms obliged to sell CPO to Bulog

State firms obliged to sell CPO to Bulog JAKARTA (JP): The government has obliged state-owned plantation companies to sell cooking oil produced from crude palm oil (CPO) to the State Logistic Agency (Bulog) in a bid to stabilize domestic prices for the commodity. A statement issued by the Ministry of Industry and Trade yesterday revealed the sale was made compulsory under the terms of a decree which took effect on July 24.

Lasmo's sales fall

Lasmo's sales fall HONG KONG (Dow Jones): Lasmo PLC of the U.K. (LSO) said late Thursday that sales of liquefied natural gas from its Indonesian fields could suffer additional declines on top of a 2 percent fall this year. In its interim results, the company added that LNG sales face near-term potential for a "small number" of further decreases due to the region's current economic problems.

Harvard Group to help PLN

Harvard Group to help PLN JAKARTA (JP): State-owned electricity company PT PLN has appointed Harvard Negotiation Group to assist the troubled company in renegotiating its contracts with 26 independent power producers (IPP), mostly controlled by foreign electricity giants. A deputy of the state minister for the empowerment of state enterprises, Sofyan Djalil, said yesterday the U.S. consultants would boost the negotiation skills of PLN's restructuring team of eight.

'Bloodshed possible' over referendum

'Bloodshed possible' over referendum By Putu Wirata DENPASAR (JP): Over the short course of his new administration, President B.J. Habibie and Minister of Foreign Affairs Ali Alatas have made various efforts to handle the East Timor question. The government has proposed wideranging autonomy for the former Portuguese colony in a bid to find acceptable solutions to the issue of sovereignty.

Govt urged to revoke new ruling on hotel tax

Govt urged to revoke new ruling on hotel tax JAKARTA (JP): A city councilor urged the central government yesterday to revoke a new government regulation which requires the city administration to set aside 20 percent of the tax it collects from hotels and restaurants for the promotion of tourism. Head of Commission C for financial affairs Amarullah Asbah said that under Government Regulation No.

Melted-down coin trade investigated

Melted-down coin trade investigated TANGERANG (JP): Police are investigating a business which melted down coins of denominations from Rp 25 to Rp 500 at Gembor village in Jatiuwung district here. Lt. Col. Pudji Hartanto, chief of the Tangerang police precinct, said Wednesday police officers had questioned Eeng, the 42-year-old owner of metalworks company PT Logam Kencana.

Breeding bulbuls can be a ticklish business

Breeding bulbuls can be a ticklish business JAKARTA (JP): When it comes to the ways of the birds and the bees, feathered creatures have their own distinct ways of coming together. And then there is cucak rawa, the yellow-crowned bulbul. They fight, love and often kill, too, in the mating game. Which is not to say that they are dangerous creatures, according to Ismu Sutanto Suwelo, a Bandung breeder of the bulbul who owns 71 pairs.

Australia offers education grants

Australia offers education grants KUPANG, East Nusa Tenggara: The Australian government is offering scholarships to Indonesians wishing to pursue postgraduate studies in Australia, Antara said. "In the academic year 1998/1999, we are offering scholarships to 240 applicants from the government sector and 120 others from the private sector," manager of Australia's International Development Program (IDP) Ferdi Tanoni said yesterday. Aug.

Four top officials to be replaced

Four top officials to be replaced JAKARTA (JP): Minister of Communications Giri Suseno will soon remove four top officials of his ministry in the wake of the crisis hitting state transportation companies, recent public transportation accidents and corruption allegations.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on July 31, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 350 25 22,000 AHAP Insurance 575 0 0 Alter Abadi 525 0 10,500 Alumindo Light Metal 325 0 0 Alumindo Perkasa 225 0 0 Aneka Kimia Raya 200 0 25,000 Aneka Tambang 2,550 0 4,979,000 Anwar Sierad 100 0 105,000 Apac Centertex Corp.

Sumber Cipta set to lose LPG valve monopoly

Sumber Cipta set to lose LPG valve monopoly JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto said yesterday he had asked state oil and gas company Pertamina to end the monopoly enjoyed by a company linked to former president Soeharto on the supply of valves for liquefied petroleum gas (LPG) containers. "I have instructed Pertamina to hold an open tender for the purchase of the valves in the fourth quarter of the year," Kuntoro told a weekly news conference.

Victims, rape witnesses report to investigation team

Victims, rape witnesses report to investigation team JAKARTA (JP): At least 22 victims and witnesses of rapes during the May rioting have reported to a team recently established by the government to investigate human rights abuses during the unrest. Antara quoted social workers as saying yesterday the victims and witnesses had reported to three different posts set up by the team.

'Dalang' enjoy freedom after Soeharto's fall

'Dalang' enjoy freedom after Soeharto's fall By Haryoso SEMARANG (JP): President Soeharto's big fall in May has left Javanese shadow puppet masters, dalang, wondering if there is anything they can do to restore their image as moral gurus. The country's new political climate gave dalang the courage to speak their minds during their July 7 through July 9 congress in Central Java's ancient city of Surakarta.

Indonesia next aid target: Exim Bank

Indonesia next aid target: Exim Bank BANGKOK (Dow Jones): The president of the Export-Import Bank of the U.S. said yesterday he saw no reason why the U.S. government agency shouldn't help out ailing Indonesian companies "when we've worked out the mechanics." James Harmon ended a two-week tour of Asia in Bangkok Friday by signing a US$1 billion package to help support U.S. exports to Thailand and said the bank would now point its sights on Indonesia.

Houses flooded after dam bursts

Houses flooded after dam bursts SAMARINDA, East Kalimantan: The Benanga dam, some 20 km north of here, burst yesterday following one week of heavy rains, Antara said. Residents fled to safer areas after thousands of houses were inundated, but no casualties were reported. Thousands of hectares of fields were also flooded. Samarinda, a city of 400,000 people, has been put on alert for floods if the rains cause the Mahakam River to burst its banks.

Airbase employee, soldier shot in police operation

Airbase employee, soldier shot in police operation JAKARTA (JP): Depok police shot dead a 54-year-old man and injured another in a routine midnight street operation in Tonjong subdistrict of Bojong Gede early yesterday. The dead victim was later identified as Madjid, 54, a civil servant at the local air base in Semplak Barat, and the injured person was a chief private from the Bogor-based Kujang infantry brigade, an officer said. Madjid was shot in the head, stomach, right arm and leg.

Malaysia woos foreign students

Malaysia woos foreign students KUALA LUMPUR (DPA): Malaysia, which is keen to promote its fast-growing higher education sector, has eased visa restrictions for foreign students planning to study at local colleges and universities, reports said yesterday. The move is aimed at students from neighboring countries such as Indonesia, Brunei, China and India, who are drawn to Malaysian higher education centers which run twinning courses with established foreign universities.

Different lands serve up different noodles

Different lands serve up different noodles SURABAYA (JP): With noodles available everywhere, from roadside stalls to glitzy restaurants, it's obvious that everybody loves noodles. And now the luxury Majapahit Mandarin hotel has brought together noodles from several countries: Fried Noodles from Singapore, Won Ton Noodles from Hong Kong, Fried Kwei Teow from Penang, Malaysia, Mandu Noodle Soup from Korea, Phad Thai from Thailand and Bakmi Goreng from Indonesia.

U.S. to donate 1.5m metric tons of wheat to RI

U.S. to donate 1.5m metric tons of wheat to RI WASHINGTON (Reuters): The United States will donate up to 1.5 million metric tons of wheat to Indonesia over the next eight months as part of a $7.9-billion international effort to support democratic reforms, Indonesia is "much too important a country to let try to muddle through a very, very difficult situation," said Brian Atwood, administrator of the U.S. Agency for International Development, in announcing the assistance.

Cassette factory workers complain over dismissals

Cassette factory workers complain over dismissals JAKARTA (JP): Dozens of workers from a West Jakarta cassette manufacturing plant sought advice from the Jakarta Legal Aid Institute yesterday over their employers' attempts to force one third of the company's 500 strong workforce to resign. The employees of PT Metro Utama Raya, which produces HDX cassettes, have refused to acquiesce to the company's request.

Guthrie builds CPO plants

Guthrie builds CPO plants JAKARTA (JP): Kumpulan Guthrie Berhad will build crude palm oil (CPO) refineries in Indonesia in cooperation with local cooperatives, the chief executive of the Malaysian business group Abdul Khalid Bin Ibrahim said here yesterday. Khalid said that Guthrie would build CPO refineries in Sumatra and would soon send a team to study the projects. "The refineries will be built under a build, operate and transfer (BOT) system with Indonesian cooperatives.

Low-cost health centers fail to give good service

Low-cost health centers fail to give good service JAKARTA (JP): More people are turning in the economic crisis to low-cost community health centers, known locally as Puskesmas, but many are reportedly coming away disappointed with services. A survey organized by the respected Indonesian Consumers Foundation (YLKI) examined several centers in all 27 provinces. One finding was that a rise in fees at many health centers was not accompanied by enhancement of services.

Principals to be disciplined

Principals to be disciplined JAKARTA (JP): The city administration will apply stiff disciplinary measures to eight state elementary school principals for collecting illegal levies from students' parents, an official said Thursday. The head of the city's Education and Teaching Agency, Gito Purnomo, told reporters that the eight headmasters had been found guilty of charging the parents higher entrance fees than the official Rp 1,750 rate.

Fishermen protest use of trawls

Fishermen protest use of trawls JAMBI: Hundreds of traditional fishermen in the Kuala Tungkal subdistrict 125 kilometers east of here urged the Tanjung Jabung regent yesterday to prevent hundreds of fishing boats operating with massive small-hole trawling nets. The fishermen told regent Ahmad Sugeng that the operations of some 300 such boats in the sea off Jambi had significantly reduced their earnings.

SE Asia urged to rethink tax plans

SE Asia urged to rethink tax plans MANILA (DPA): The influential Organization for Economic Cooperation and Development (OECD) has urged Southeast Asia's battered economies to reconsider tax policies on mechanisms to reduce financial risk, a statement released in Manila said yesterday.

Shot in the arm

Shot in the arm Seen from a foreign reserve position, the almost US$8 billion in new loans pledged by Indonesia's government and multilateral creditors in Paris on Thursday is certainly a shot in the arm for the gradual strengthening of the rupiah, especially because almost all the new credits are quick-disbursing.

Stop divisive political agenda

Stop divisive political agenda By Frans H. Winarta This is the second of two articles on the New Order government's divisive agenda in the country. JAKARTA (JP): The emergence of about 300 Chinese-Indonesian conglomerates during the rule of the New Order government created extremely high social envy among indigenous Indonesians, a phenomenon which on reflection was a time bomb ticking away.

Chinese-Indonesians victims of hypocrisy

Chinese-Indonesians victims of hypocrisy I believe that everything that happens, does so for a reason. And every action we do will be counteracted by another's reaction. Therefore, I think that parts of the reasoning implied in the article Ethnic Chinese at fault for riots of July 30, are simply prejudicial and hypocritical. The writer (Masli Arman) should have at least tried to admit that the fault is not only with the Chinese-Indonesian society.

Astra names advisors to restructure debt

Astra names advisors to restructure debt JAKARTA (JP): The country's largest automobile producer, PT Astra International, has appointed three foreign banks -- Chase Manhattan Bank, Sakura Merchant Bank and Sumitomo Bank -- as financial advisors in its efforts to restructure US$2 billion in foreign debt, the company president said yesterday. Rini M.

Handicrafts gallery opened

Handicrafts gallery opened JAKARTA (JP): Looking for a means that could drive you to heaven? No, it has nothing to do with drugs. Just spend your weekend taking a look around the newly opened Bursa Seni art gallery on the sixth floor of Blok M Plaza in South Jakarta. The 2,000-square-meter gallery, currently home to 35 traders, is offering a wide range of traditional Indonesian handicrafts, including beds of the ancient kings of East Timor.

Maximum rates for Aug. 3 to Aug. 9

Maximum rates for Aug. 3 to Aug. 9 Time deposit Maximum rate Maximum rate rupiah deposit (%) US dollar deposit (%) ------------------------------------------------------- 1-month 56 15 3-month 50 14 6-month 40 14 12-month 39 14 24-month 25 18 Maximum overnight rate for rupiah : 60 percent Maximum overnight rate for U.S. dollars: 22 percent Source: BI

Steel firm allows workers to form union after rally

Steel firm allows workers to form union after rally JAKARTA (JP): Management of steel factory PT Gunung Garuda in Bekasi finally relented yesterday and permitted its 2,000 workers to set up a trade union after a protracted dispute which included a bloody riot last month.

Rupiah, stocks down on regional weakness

Rupiah, stocks down on regional weakness JAKARTA (JP): The rupiah and local stock prices ended down yesterday over regional weaknesses and profit taking after a few days of successive gains on positive news about Indonesia's donors' meeting. Currency dealers said the rupiah slipped to 13,100/200 against the U.S. dollar at the close of Jakarta trading, compared to Thursday's close of 13,000.

Police continue train wreck probe

Police continue train wreck probe JAKARTA (JP): Bekasi police are still in the dark over the cause of last Friday's collision of three trains in Karang Asih village. Three employees of state-owned company Perumka stationed at the nearby Cikarang post when the incident happened were still being questioned by police Thursday. According to Bekasi Police Chief Lt. Col.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Exhibition: Magical Realism in Arts, by Prijono Maruto, Galeri Cipta II, Taman Ismail Marzuki, Jl. Cikini Raya 73, Central Jakarta (Phone: 3140554), until Aug. 3. * 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. * Painting Exhibition: Kriyono's Cynorure by Kriyono, at Galeri Linggar, Jl. Kemang Timur No.

Outspoken Djiteng replaced by Adhi as PLN president

Outspoken Djiteng replaced by Adhi as PLN president JAKARTA (JP): State Minister for the Empowerment of State Enterprises Tanri Abeng formally reshuffled yesterday the board of directors of debt-ridden state electricity company PLN, including the removal of its outspoken president Djiteng Marsudi.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 TV Series: Silverhawks 3:05 Documentary: Pesona Flora 3:30 Science Film: Invention 4:00 Regional News 4:30 Sports 5:30 TV Series 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports News 6:30 TVRI News (in English) 7:00 Evening News 7:35 News: Jendela Dunia 8:00 News: Lintasan Berita 8:05 Quiz: Siapa Dia 8:30 Entertainment News: Majalah Udara 9:00 World News 9:30 Shadow Play 10:30 Late News 10:40 Film Program 2 4:30 p.m.

Military seizes thieves' equipment

Military seizes thieves' equipment SAMARINDA, East Kalimantan: The military has seized 104 units of heavy equipment from Malaysian loggers operating illegally near the Indonesian-Malaysian border in East Kalimantan province since September last year, Antara said. "The military also detained the timber thieves at the border areas until they were brought to court," chief of the Aji Suryanata Kesuma military resort here, Col. Rudi Landung, said yesterday.

Megawati loyalists want Feisal probed

Megawati loyalists want Feisal probed JAKARTA (JP): Loyalists of ousted Indonesian Democratic Party (PDI) leader Megawati Soekarnoputri urged the military police yesterday to question eight Armed Forces (ABRI) officers for their alleged role in the forcible takeover of party headquarters in July 1996. Represented by Team of Defense Lawyers for Indonesian Democracy (TPDI), they filed their petition with the chief of the National Military Police Corps, Maj. Gen. Syamsu Djalal.

Tang here for four-day visit

Tang here for four-day visit KUALA LUMPUR (AP): Chinese Foreign Minister Tang Jiaxuan arrived in Malaysia yesterday for a four-day official visit. Tang flew in from the Philippines, where he just attended a meeting of officials from member countries of the Association of Southeast Asian Nations. He will discuss bilateral and international issues with Malaysian Foreign Minister Abdullah Ahmad Badawi and meet with Prime Minister Mahathir Mohamad.

Harmony amid diversity

Harmony amid diversity If publication of Masli Arman's work on July 30 represents the newly expressed freedom of the press in Indonesia, it truly represents a turn for the worse in political, cultural and social terms, analogous to the country's recent economic turmoils. His short-sighted, insular and bigoted views in vilifying the Chinese demonstrate, thinly veiled, the same sort of hatred and distrust shown by Germans in the 1930s against Jews.

Alleged drug dealers busted

Alleged drug dealers busted JAKARTA (JP): Police narcotics officers arrested three alleged drug dealers in two raids in West Jakarta Thursday, seizing 520 Ecstasy pills, a few grams of the amphetamine derivative Shabu- Shabu and a mixer device from the suspects. A reliable police source said yesterday that the first two suspects were arrested in an early morning raid at Royal hotel in the Mangga Besar area, while the other one was taken into custody at the Emerald discotheque on Jl. Hayam Wuruk.

Big plantation firms asked to limit expansion

Big plantation firms asked to limit expansion JAKARTA (JP): Minister of Forestry and Plantations Muslimin Nasution has asked major plantation companies to keep on hold any plans to expand their plantation areas to allow for development of small and medium plantation estate firms. "Big plantation estates should give more opportunities to middle and small-scale plantation firms to grow.

CGI aid 'not enough to revive economy'

CGI aid 'not enough to revive economy' JAKARTA (JP): The government has welcomed a new US$7.9 billion aid package pledged by donors as a sign that the international community trusts its ability to mend the country's wrecked economy. President B.J. Habibie described the huge loans committed by the Consultative Group on Indonesia (CGI) as an international vote of confidence in his 70-day old presidency and government.

SE Asian monies sink along with yen

SE Asian monies sink along with yen SINGAPORE (Dow Jones): Southeast Asian currencies fell in late trading Friday, dragged down by a plunging Japanese yen. Regional currencies were rangebound for most of the day, after dropping early on overnight losses by the yen. Comments overnight by Japan's new Finance Minister Kiichi Miyazawa suggesting that markets should be left to find their own levels sent the dollar soaring Thursday in New York to an intraday high of Y143.85.

Plane, what plane?

Plane, what plane? JAKARTA (JP): The East Kalimantan provincial government has a Norman Britten aircraft but officials -- let alone the people -- never knew about it. Governor Suwarna Abdul Fatah was dumbfounded when executives of the Kalimanis Group told him they came to return the 10-seater aircraft the company borrowed eight years ago. "We did not realize we had an aircraft until it was returned to us," provincial government spokesman Haritsyah Ratman told Antara on Wednesday.

Transparency society on board

Transparency society on board JAKARTA (JP): A number of leading officials, politicians, economists and religious leaders have established the Indonesian Transparency Society to promote good governance, a decent society and good business practices. The transparency society's executive board is chaired by former finance minister Mar'ie Muhammad, with Sudirman Said as executive director and Erry Riyana Hardjapamekas, president of state tin miner PT Tambang Timah, as secretary-general.

Dim Sum knows the way to someone's heart

Dim Sum knows the way to someone's heart JAKARTA (JP): Great food not only has to do with the stomach, it also touches the heart. And this ancient philosophy is now brought to you by way of a Dim Sum promotion, being held at a top hotel in the heart of the city. The history of Dim Sum, which literary means "to touch the heart", dates back some 3,000 years.

Missing activist found in the Philippines

Missing activist found in the Philippines JAKARTA (JP): The Armed Forces (ABRI) spokesman Maj. Gen. Syamsul Ma'arif said one of 12 activists still reported missing, Herman Hendrawan, has been found in the southern province of Davao in the neighboring Philippines. "He is now staying in the house of the Indonesian consulate- general in Davao," Syamsul told reporters yesterday.

Asian Games to introduce smart tickets

Asian Games to introduce smart tickets JAKARTA (JP): The Bangkok Asian Games Organizing Committee (BAGOC) has introduced new technology to ensure ticket validity for the Dec. 6 to Dec. 20 event. Dubbed the "Supersmart Tickets", each ticket for the opening and closing ceremonies will incorporate a microchip which emits a radio signal. Ticket holders will slide the credit card-sized tickets into scanning machines at the entrance of the Rajamangala Stadium to automatically open the gate's bar.

Aceh governor asks for military to pull out

Aceh governor asks for military to pull out JAKARTA (JP): Aceh Governor Syamsuddin Mahmud has written to President B.J. Habibie asking for the Armed Forces (ABRI) to withdraw its troops from the westernmost province and that its status as a military operations area be lifted.

Negative reports drive dent in Bali tourism mart

Negative reports drive dent in Bali tourism mart By Devi M. Asmarani NUSA DUA (JP): Bali, Indonesia's most famous tourist destination, saw a 15.7 percent drop in the number of foreign tourist arrivals in the first half of this year to 489,877 visitors, effected by the country's negative image.

BA cuts flights to Jakarta

BA cuts flights to Jakarta JAKARTA (JP): British Airways announced yesterday that it would cut its weekly flights between Jakarta and London from six to two beginning Oct. 25, 1998, because of a decrease in passenger demand. The airline's country manager for Indonesia Clair Hatton announced that it would work with Qantas and other airlines to fly passengers via Singapore when there was no connection through Jakarta.

Sports council calls for talk on lottery plan

Sports council calls for talk on lottery plan JAKARTA (JP): The National Sports Council invited the Indonesian Consumers Foundation and media representatives yesterday to a talk on Thursday on its planned lottery to raise funds for sports. Council secretary-general Rudolf Warouw said the council's executives hoped to swap ideas with their guests during the meeting, the first official public presentation of the proposal since its introduction almost two weeks ago.

Utut out for higher elo rating after Kallai win

Utut out for higher elo rating after Kallai win JAKARTA (JP): Indonesian Grand Master (GM) Utut Adianto sought to lift his elo rating yesterday after scoring a win in the penultimate round of the Biel Masters chess tournament in Switzerland on Thursday. Utut beat Hungarian GM Gabor Kallai after 32 moves and needed half a point more in his last match against International Master Dejan Pikula of Croatia late yesterday to improve his current rating of 2,610 by five.

Kadin wants exporters to sell dollars to BI

Kadin wants exporters to sell dollars to BI JAKARTA (JP): The Indonesian Chamber of Commerce and Industry (Kadin) urged the government yesterday to require all exporters to sell their export revenue to Bank Indonesia in a bid to bolster the country's foreign exchange reserves and the rupiah. Kadin chairman Aburizal Bakrie told President B.J. Habibie at the Bina Graha presidential office that the central bank could easily collect about US$50 billion year if the plan was implemented.

CPC exits oil, gas industry

CPC exits oil, gas industry HONG KONG (Dow Jones): Taiwan's Chinese Petroleum Corp. (Q.CPC) has exited Indonesia's upstream oil and gas sector, after deciding in June to halt exploratory drilling in the Peudada field in North Sumatra, a CPC spokesman told Dow Jones Newswires yesterday. In June, the offshore field, jointly owned by Mobil Corp. of the U.S. (MOB) and Indonesia's state-owned oil and gas concern Pertamina was deemed non-commercial and drilling was halted, the spokesman said.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 31 1998: Buying Selling Rp Rp U.S.

Poor service spoils fervor in land status upgrading plan

Poor service spoils fervor in land status upgrading plan By Pandaya and Ida Indawati Khouw JAKARTA (JP): Unusually large crowds of people clutching files have been massing at land affairs offices throughout Greater Jakarta, jostling each other and openly grumbling about the services. It is as though they have a deadline to beat.

Natuna gas project must await demand

Natuna gas project must await demand NEW YORK (Dow Jones): Exxon Corp. said Thursday that exploration on Indonesia's Natuna gas field should wait until the market is better able to absorb more liquefied natural gas. The Indonesian government Wednesday announced it would postpone exploration on the giant field, which Exxon operates, because of the economic crisis in Thailand and oversupply of liquefied natural gas in the world market.