Indonesian Political, Business & Finance News

Archive: 14 August 1998

53 articles found

Main roads to be closed on Aug. 17

Main roads to be closed on Aug. 17 JAKARTA (JP): A number of streets around National Monument Square will be temporarily closed on Monday during flag-hoisting ceremonies on commemoration of the nation's 53rd Independence Day, an officer said yesterday.

HK, RI as Asia saviours

HK, RI as Asia saviours SYDNEY (Reuters): Construction group Leighton Holdings Ltd said yesterday it believed it had weathered the worst of the Asia economic storm and that Hong Kong government and Indonesia mining projects would help future growth.

JETRO predicts E. Asian trade to further stagnate

JETRO predicts E. Asian trade to further stagnate TOKYO (DPA): With the currency turmoil hanging over East Asia, trade in the region "is expected to further stagnate in 1998", the Japan External Trade Organization (JETRO) reported in its annual White Paper on International Trade.

Sultan waiting for govt's decree

Sultan waiting for govt's decree YOGYAKARTA: Popular Sri Sultan Hamengkubuwono X said here yesterday he was waiting for word from President B.J. Habibie on the appointment of the special province's governor, in which he is a strong candidate."It's up to the government.

Rupiah continues to rally as stocks drop off again

Rupiah continues to rally as stocks drop off again JAKARTA (JP): The rupiah continued to rally yesterday while the stock market slumped again after Thursday's increase amid regional bearishness.Currency dealers said the rupiah strengthened to 12,900 against the U.S.

Violent attack

Violent attack The attack launched on a playgroup on Jl. Hasanudin, Bandung, West Java, at 10 a.m. on Aug. 3, 1998 reminds me of Fukuyama, an American philosopher, who wrote an article titled Barbarians at the gate.

Five officials to be tried for violating banking laws

Five officials to be tried for violating banking laws JAKARTA (JP): Five officials from two private banks closed down by the government last year are to be brought to trial for allegedly violating banking laws, an officer said yesterday.Col.

Belgian banks told to boost RI provisions

Belgian banks told to boost RI provisions BRUSSELS (Dow Jones): Belgium's Banking and Finance Commission asked Belgian banks in June to add around BEF6 billion to provisions for potential losses in Indonesia, Belgian financial newspaper De Financieel Economische Tijd reported yesterday.

Delay freedom of expression regulation: DPA

Delay freedom of expression regulation: DPA JAKARTA (JP): The Supreme Advisory Council (DPA) yesterday recommended the government postpone its controversial regulation on the freedom of expression until it was endorsed by the House of Representatives.

Army probe misses deadline

Army probe misses deadline JAKARTA (JP): The Armed Forces leadership failed yesterday to complete its investigation of three senior officers' alleged roles in the abductions of dozens of political activists.Army Chief of Staff Gen.

Equestrian team to compete at Asiad

Equestrian team to compete at Asiad JAKARTA (JP): The National Sports Council (KONI) is at the center of yet more controversy on its selection of athletes for the 13th Asian Games after it gave the green light to equestrians to compete in Bangkok.

Rethinking ABRI's role

Rethinking ABRI's role The time, it seems, has finally come for Indonesians to deal in earnest with a subject that has been one of the nation's most inviolate taboos for many decades: the so-called dwifungsi, or dual function, of the Armed Forces (ABRI).

East Timor

East Timor In this era of openness, your editorial Aug. 8, 198 falls short of Explaining East Timor.When, in 1976, "tribal leaders representing a majority of the East Timorese" signed over control of East Timor to Indonesia, the territory was not "embroiled in a bloody civil war".

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Photo Exhibition: A Part of Indonesian Historical Journey, at Galeri TC, Jl. Kemang Raya No. 24A, South Jakarta (Phone: 7194278), Sunday, at 10:30 a.m. to 12 p.m., Monday to Thursday, 11:30 a.m. to 11:30 p.m., Friday to Saturday 11:30 a.m. to 1:30 a.m.

Security beefed up in several cities prior to weekend

Security beefed up in several cities prior to weekend SURABAYA (JP): Despite officially dismissing rumors of unrest for the coming Aug. 17 Independence Day celebrations, security has been beefed up in some cities as military commanders appealed to community leaders to insure a calm long weekend.

Kuntowijoyo's story

Kuntowijoyo's story I am a reader of The Jakarta Post. I found something odd in the short story on Aug. 9, 1998.In the footnote you said "one of Yusrizal KW's works, Pistol Perdamaian..."I would like to inform you that Pistol Perdamaian was not written by him but by Kuntowijoyo.

Military seeks help to weed out rumormongers

Military seeks help to weed out rumormongers JAKARTA (JP): The city military is soliciting help from foreign groups in its effort to identify people spreading rumors on the Internet of renewed riots in the capital.

RI mine shuts, copper rises

RI mine shuts, copper rises LONDON (Bloomberg): Copper yesterday rose from its lowest price in a month on expectations that a stronger yen would spur buying in Japan, while a strike at the world's second-largest copper mine cut output.Japan, the world's second-largest copper consumer behind the U.S.

16 people named as 'agitators'

16 people named as 'agitators' JAKARTA (JP): The city police named yesterday 16 people as suspected agitators of the mid-May riots.City Police spokesman Lt. Col. E. Aritonang told journalists the suspects were among the 36 people who had been wanted by the police for their alleged role in...

Habibie to open Soerjadi-led PDI congress

Habibie to open Soerjadi-led PDI congress JAKARTA (JP): President B.J. Habibie has kept to the rigid political line of his predecessor on the splintered Indonesian Democratic Party (PDI) by agreeing yesterday to open the Soerjadi camp's congress later this month in Palu, Central Sulawesi.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on August 13, 1998: Buying Selling Rp Rp U.S. dollar 1 12,800.00 13,400.00Austrian shilling 1 959.00 1,080.00Australian dollar 1 7,405.00 7,804.00Belgian franc 1 339.00 355.00Canadian dollar 1 8,235.

Indonesia's Utut suffers fastest defeat at MK Cafe Cup

Indonesia's Utut suffers fastest defeat at MK Cafe Cup JAKARTA (JP): Home favorite and top seed Michal Krasenkow buried Indonesian Utut Adianto's dreams of winning the MK Cafe Cup chess tournament in Koszalin, Poland, Wednesday.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 13, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 325 0 1,000 AHAP Insurance 400 0 0 Alter Abadi 350 -25 274,500 Alumindo Light Metal 350 50 1,435,000...

Anwar Sierad expects another big forex loss

Anwar Sierad expects another big forex loss JAKARTA (JP): PT Anwar Sierad expects another big foreign exchange loss this year since foreign bankers have yet to agree to reschedule its foreign debts, the company's top executive said here yesterday.

Cafe party drives nightlife in capital city

Cafe party drives nightlife in capital cityBy Izabel Deuff JAKARTA (JP): Black might symbolize death or sadness, but being in black, one could also be cheerful, as reflected in Models in Black, a theme of an evening at Cafe Automobili Lamborghini at Taman Ria Senayan Complex, Central Jakarta.

KL's policy inconsistent

KL's policy inconsistent KUALA LUMPUR (Dow Jones): International ratings agency Fitch IBCA yesterday assigned a first-time long-term foreign currency rating of triple-B-minus to Malaysia, citing the country's relatively low external debt levels, but also highlighting an "inconsistent policy stance.

U.S. fund managers find bargains arising

U.S. fund managers find bargains arising SAN FRANCISCO (Dow Jones): In early July, U.S. real-estate company Colony Capital offered to buy a just-finished upscale residential development in the Philippines from its near-bankrupt owners.

85 new telecom kiosks opened

85 new telecom kiosks opened JAKARTA (JP): The Bekasi branch of state owned PT Telkom has signed agreements to open 85 new telecommunications kiosks.PT Telkom's manager for the area, Mulyanto, said the agreements meant there would shortly be 391 telecommunications kiosks in the Bekasi area.

Changes to be made in Soeharto's security

Changes to be made in Soeharto's security JAKARTA (JP): The special presidential security detachment guarding Soeharto will be disbanded Monday, with protection for the former president to be assigned to a team from the Jakarta Military Command.

Acehnese seek justice over atrocities

Acehnese seek justice over atrocities JAKARTA (JP): Acehnese public figures joined forces yesterday to pressure the government to uncover atrocities the Armed Forces (ABRI) allegedly committed since 1989 against suspected separatist rebels.

RI macroeconomic coordination 'need improvement'

RI macroeconomic coordination 'need improvement' The Supreme Advisory Council has recently provided a document explaining the government's economic strategy to a group of 15 economists who criticized the administration for having a populist policy last week.

SE Asian currencies down, volatility bypasses forex

SE Asian currencies down, volatility bypasses forex SINGAPORE (Dow Jones): Most Southeast Asian currencies finished Asian trading yesterday down against the U.S. dollar, despite being hauled up off their intraday lows by a late surge in the yen.

Villagers go on rampage

Villagers go on rampage CILACAP, Central Java: Bantarsari villagers in Kawungantan subdistrict here destroyed yesterday their village chief's house and a nearby village hall after failing to meet their leader to protest his alleged corruption.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Cartoon: Warner Kartun 3:05 Music Lessons: Bermain Musik 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Education Quiz: Cerdas Cermat 6:00 News: Lintasan Berita 6:05 Documentary: Rona...

Tourist sector targets backpackers

Tourist sector targets backpackers JAKARTA (JP): Indonesia's declining popularity as a tourist destination has compelled the country to refashion its service towards catering to foreign backpackers, Minister of Tourism, Arts and Culture Marzuki Usman said yesterday.

Lessons in the past for a new constitution

Lessons in the past for a new constitutionBy Lambert Giebels This is the first of two articles on the inception of the Indonesian Constitution. BREDA, The Netherlands (JP): Revision of the country's Constitution, one of the demands of university students demonstrating against Soeharto's...

The myth of Chinese domination

The myth of Chinese dominationBy George J. Aditjondro NEWCASTLE, New South Wales, Australia (JP): "The Chinese constitute only 3.5 percent of the population but control 70 percent of Indonesia's economy.

The problem with Habibie

The problem with Habibie We have just entered a new era. The government is in dire financial straits and has just been forced to default on sovereign debt repayments. This inability to repay our debts is an ominous sign that current hardships are set to become even worse in the near future.

Feudalism in our economic structure

Feudalism in our economic structure Is it possible to achieve economic independence in view of our repetitive failures to achieve successful governmental economic policies since our independence on Aug.

Garuda to return five more leased jets to cut costs

Garuda to return five more leased jets to cut costs JAKARTA (JP): National flag carrier Garuda Indonesia has received a commitment from giant aircraft maker Boeing which allows the financially troubled airline to return five leased airplanes, a minister said yesterdayState Minister of the...

Local group seeks UN help to probe May riots

Local group seeks UN help to probe May riots JAKARTA (JP): Members of the Volunteers of Humanity have said they received a positive response at a hearing with a United Nations Sub-Commission in Geneva, Switzerland, on a plea to send a team of international investigators to probe the causes of the...

Subagyo, Sjafrie become MPR members

Subagyo, Sjafrie become MPR members JAKARTA (JP): House Speaker Harmoko swore in yesterday 38 new members of the House of Representatives/People's Consultative Assembly (DPR/MPR), including Army Chief of Staff Gen.

RI activists not to be prosecuted, envoy says

RI activists not to be prosecuted, envoy says JAKARTA (JP): The three Indonesians currently detained by Myanmar for allegedly distributing antigovernment leaflets will not be prosecuted, Indonesia's Ambassador in Yangon Poerwanto Lenggono said yesterday.

Bank Austria sets aside $336m

Bank Austria sets aside $336m VIENNA (Bloomberg): Bank Austria AG, the country's largest bank, said yesterday it set aside 4.2 billion schillings (US$336 million) as of June 30 to cover possible bad loans in Russia and Indonesia.

Indonesia reenters sugar market

Indonesia reenters sugar market JAKARTA (JP): The State Logistics Agency (Bulog) said yesterday that it bought 106,000 metric tons of white sugar, 175,000 tons of high polarization raw sugar and 235,000 tons of raw sugar in its second tender Wednesday.

Semen Gresik sale to continue as planned

Semen Gresik sale to continue as planned JAKARTA (JP): The bidding process for state-owned cement maker PT Semen Gresik will continue as scheduled although its subsidiary PT Semen Padang may have to be excluded from the sale in the wake of last week's protest by West Sumatran community leaders,...

Over 300 Bouraq employees protest dismissal plan

Over 300 Bouraq employees protest dismissal plan JAKARTA (JP): More than 300 employees of privately run Bouraq Indonesia Airlines staged a demonstration at the firm's head office on Jl. Angkasa, Central Jakarta, yesterday, to protest the management's plan to dismiss them amid the economic crisis.

Bulog to quit wheat business in October

Bulog to quit wheat business in October JAKARTA (JP): The State Logistics Agency (Bulog) will stop importing wheat and wheat flour in October after the government ends subsidies to the commodities, the agency's chairman said.

Petrochem plant in Sulawesi

Petrochem plant in Sulawesi JAKARTA (JP): PT Makassar Petrosel Global has received approval from the Investment Coordinating Board (BKPM) to build an aromatic and olefin plant in Barru regency, South Sulawesi, a company executive said here yesterday.

Massive flooding may affect 2m people

Massive flooding may affect 2m people JAKARTA (JP): Massive flooding predicted to hit the city during the upcoming rainy season will likely affect about two million people but there remains a shortage of equipment to assist them, data at the City Social Services Agency revealed yesterday.

Malaysia angered by terrorist alert

Malaysia angered by terrorist alert KUALA LUMPUR (DPA): Malaysia voiced concern yesterday that Washington's recent alert of possible terrorist attacks against U.S. interests and its embassy in Kuala Lumpur will scare away much needed foreign investment and tourists.

EU urges RI to free jailed E. Timorese leader

EU urges RI to free jailed E. Timorese leader BRUSSELS (Agencies): The European Union on Wednesday added its voice to calls for Indonesia to free jailed East Timorese guerrilla leader Jose Alexandre "Xanana" Gusmao and urged the country to further reduce its military presence in the province.

Shihab seeks genuine harmony between different faiths

Shihab seeks genuine harmony between different faiths JAKARTA (JP): Inflamed by the country's frequent riots, Alwi Shihab, visiting professor at Harvard University's Divinity School, has committed himself to helping establish genuine harmony in Indonesia, especially between Moslems and other faiths.