Indonesian Political, Business & Finance News

Archive: 15 August 1998

61 articles found

Economists say no to force majeure proposal

Economists say no to force majeure proposal JAKARTA (JP): Economists have dismissed the private sector's call for the government to declare the economic crisis a force majeure, saying it would be a vain attempt at getting away from repaying their debts.

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.

Foundation donates coffins and shrouds to funeral agency

Foundation donates coffins and shrouds to funeral agency JAKARTA (JP): A local fund-raising foundation donated yesterday coffins and unbleached cotton used for shrouds to help the city's financially troubled nursing homes and funeral agency in burying dead bodies abandoned by relatives.

Globalization means challenges

Globalization means challenges The following article is based on Minister of Education and Culture Juwono Sudarsono's keynote address at the international seminar Toward Structural Reforms for Democratization in Indonesia on Aug. 12 in Jakarta.

Chileans plan fish plant

Chileans plan fish plant JAKARTA (JP): Chilean investors plan to build a large fish powder plant in North Sumatra, Chile's ambassador to Indonesia, Hernan Tassara said yesterday."The result of our recent study has shown that North Sumatra has a very good potential for establishing a fish powder...

Double blow for Utut in Cafe Cup

Double blow for Utut in Cafe Cup JAKARTA (JP): Indonesian Grand Master (GM) Utut Adianto ended his Polish sojourn on a sour note Thursday, losing his final- round match and having his elo rating cut.An upset defeat to GM Henrik Teskes of Germany on the 54th move at the MK Cafe Cup tournament in...

Jakarta's air pollution

Jakarta's air pollution I was interested to read on The Jakarta Post's front page Aug. 6 of the administration's "strong efforts" to reduce Jakarta's air pollution.I have lived in the city for five years and would like to make the following observations:* Buses and trucks continuously belch out...

Habibie's leadership so far so good: Liddle

Habibie's leadership so far so good: Liddle JAKARTA (JP): It's been almost three month since B.J. Habibie assumed the presidency on May 21 but many still think the man who used to be known as Indonesia's hi-tech czar has yet to find his feet in his new position.

Legal actions on bankers too late, economists say

Legal actions on bankers too late, economists say JAKARTA (JP): Bank Indonesia's legal action against bankers suspected of steering their institutions into insolvency came too late and is dissatisfying in its focus on management of small banks, experts believe.

Interracial marriages face social stigma

Interracial marriages face social stigmaBy Pandaya and Ida Indawati Khouw JAKARTA (JP): When Widodo knelt at the altar, exchanged wedding rings with Yanti and vowed to live as husband and wife on that happy day seven years ago, his father was the only relative on hand.

Wismoyo defends Asian Games policy

Wismoyo defends Asian Games policy JAKARTA (JP): National Sports Council Chairman Wismoyo Arismunandar has defended his special policy to allow the national soccer and equestrian teams to compete in the 13th Asian Games in December.

TV today

TV todayTVRI 10:00 a.m. President Habibie's Speech (live) 2:00 p.m. News: Berita 14 2:30 Music 2:35 TV Series: Silverhawks 3:05 Children's Program: Duniaku 3:30 Science Film: Invention 4:00 Regional News 4:30 Sports 5:30 TV Series: Big Brother Jake 6:00 News: Lintasan Berita 6:05 My Country: Rona...

Experimental guitarist Engl creates a sound of his own

Experimental guitarist Engl creates a sound of his ownBy Franki Raden JAKARTA (JP): Many of the world's best composers started their careers as instrumentalists.Ardhi Engl, a German-Indonesian musician born in Munich 39 years ago, is one of these artists.

Asian markets get a breather from falls

Asian markets get a breather from falls SINGAPORE (DPA): Led by Hong Kong and Bangkok rallies, battered Asian bourses got a breather yesterday from weeks of plunging shares, but analysts predicted the regional upturn would be shortlived.

Amien Rais gives PPP cold shoulder

Amien Rais gives PPP cold shoulder JAKARTA (JP): Moslem leader Amien Rais has backtracked on an earlier statement and now says he will not join the Moslem-based United Development Party (PPP) after all.

'D&R' photographer injured in attack

'D&R' photographer injured in attack JAKARTA (JP): Photographer Bodi Chandra of D&R weekly was badly injured when two men attacked him while attempting to grab his camera gear and mobile phone at the Rawa Bambu bus shelter in South Jakarta yesterday afternoon.

Bankers or robbers?

Bankers or robbers? There is a general impression that investigators have been dragging their feet in their probe into the embezzlement of state funds. Police and public prosecutors have yet to really indicate just how far they have come in investigating three Bank Indonesia directors fired while...

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Aug. 14, 1998: Buying Selling Rp Rp U.S. dollar 1 12,600.00 13,200.00Austrian shilling 1 957.00 1,074.00Australian dollar 1 7,440.00 7,811.00Belgian franc 1 338.00 353.00Canadian dollar 1 8,240.

Employees complain about higher commuting costs

Employees complain about higher commuting costs TANGERANG (JP): Hundreds of Tangerang regency employees, who have been moved to the regency's new administrative complex in Tigaraksa, complained yesterday that they had to shoulder higher transportation costs for their longer commute.

Teetotal Brunei arrests boozers

Teetotal Brunei arrests boozers BANDAR SERI BEGAWAN (AP): On a campaign against illegal drinking, Brunei authorities arrested 10 people in a series of raids this week, including three British soldiers and two policemen, officials said yesterday.

India, Indonesia boost relations

India, Indonesia boost relations India and Indonesia, the two largest countries in South and Southeast Asia, have had close ties dating back to the fourth century AD. For centuries, there has been contact between the people of the two countries.

Bank Umum Servitia delays merger plan

Bank Umum Servitia delays merger plan JAKARTA (JP): Publicly listed Bank Umum Servitia (BUS) said yesterday it had delayed its plan to merge with three other medium-sized banks.The bank said in a statement that the delay was decided to enable each bank to consolidate their operations before...

Lessons in the past of a new constitution

Lessons in the past of a new constitutionBy Lambert Giebels This is the second of two articles on the inception of Indonesian Constitution. BREDA, The Netherlands (JP): The 1945 Constitution embodies some elements of fascism and needs to be revised to meet public demands for political reform.

Police to issue permit for PDI congress

Police to issue permit for PDI congress JAKARTA (JP): National Police chief Lt. Gen. Roesmanhadi said yesterday he would soon issue a permit for the government-backed Indonesian Democratic Party (PDI) faction led by Soerjadi to hold a congress, in Palu, Central Sulawesi, later this month.

Subway cut in length and delayed again

Subway cut in length and delayed again JAKARTA (JP): The capital's repeatedly delayed subway project, scheduled to begin next year, will be postponed again until the year 2000, deputy governor for development affairs Budiardjo Soekmadi said yesterday.

RP trade deficit falls

RP trade deficit falls MANILA (DPA): The Philippines' trade deficit plunged by 73.8 percent for the first half of the year as the slackening peso dampened imports but propelled exports, the National Statistics Office (NSO) reported yesterday.The deficit shrank to US$1.473 billion from the $5.

Rival Moslems killed in feud

Rival Moslems killed in feud SUMENEP, East Java: Three people died late on Thursday night after a brawl broke out between two rival groups here on the island of Madura.Antara reported that the brawl broke out after a dormitory belonging to the group led by Supardi was allegedly torched by another...

No foreigners in basketball championships

No foreigners in basketball championships JAKARTA (JP): The country's professional basketball league (Kobatama) will kick off in Bandung on Sep. 20, but unlike in previous seasons, this year's league will be devoid of imported players and prize money.

BI set to exchange $2.7b in bank foreign debts

BI set to exchange $2.7b in bank foreign debts JAKARTA (JP): Bank Indonesia (BI) said yesterday it expected to exchange US$2.7 billion in domestic bank external debt due this fiscal year with new longer-term loans from foreign creditors.

Copper up as RI strike seen cutting supplies

Copper up as RI strike seen cutting supplies LONDON (Bloomberg): Copper climbed as much as 1 percent yesterday, to its highest in four days, after Freeport-McMoRan Copper & Gold Inc. said a labor dispute at its Grasberg mine in Indonesia could force it to miss deliveries.

Sutiyoso tells Jakartans to protect themselves

Sutiyoso tells Jakartans to protect themselves JAKARTA (JP): Governor Sutiyoso has encouraged Jakarta residents to arm themselves and attack people attempting to plunder their homes."Don't be afraid of robbers. Don't hesitate to use weapons to protect yourselves...

SE Asian currencies edge higher

SE Asian currencies edge higher SINGAPORE (Dow Jones): Southeast Asian currencies edged a touch higher during Asian trading hours yesterday, in tandem with the yen and regional stock markets.As lingering fears of central bank intervention lifted the Japanese currency against the U.S.

Le Meridien's special offer

Le Meridien's special offer JAKARTA (JP): Le Meridien Nirwana Golf & Spa Resort in Bali launched yesterday Romancing Nirwana -- a honeymoon package to attract the couple who would like to ensure their post-wedding bliss is something extra special.

Habibie presents awards for wife, brother and critics

Habibie presents awards for wife, brother and critics JAKARTA (JP): President B.J. Habibie conferred yesterday the country's highest honor, the Bintang Republik Indonesia medal, on his wife Hasri Ainun Besari, six ministers and one former minister.

Detained foreign activists to be deported from Myanmar

Detained foreign activists to be deported from Myanmar YANGON (Agencies): Eighteen foreign activists, including three Indonesians, were sentenced to five years in prison with hard labor yesterday for handing out democracy leaflets, but will be deported from Myanmar today, AP reported.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 14, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 325 0 0 AHAP Insurance 400 0 0 Alter Abadi 300 -50 968,000 Alumindo Light Metal 325 -25 56,000...

A plea to Gen. Wiranto

A plea to Gen. Wiranto People's way of celebrating Independence Day in past years was so lively with various activities ranging from community volleyball matches to big prize games sponsored by the private sector.This year, however, such activities have decreased in quantity and quality.

Hotel puts on meal for street cleaners

Hotel puts on meal for street cleaners JAKARTA (JP): Street cleaners from the city's health service agency posted in the Gelora Senayan area were treated to a free buffet lunch by the Hotel Mulia Senayan yesterday.

25 to go free on Independence day

25 to go free on Independence day KENDARI, Southeast Sulawesi: Of the 166 convicts due to get remissions on Monday, 25 will receive sentence reductions which will end their incarceration and lead to their immediate release.

AusAID

AusAID I am writing in response to an advertisement which appeared some time ago offering scholarships for a postgraduate program in Australia from AusAID/IDP Education Australia. I wish to get an explanation of this scholarship offer as there are changes in the requirements set for candidates for...

Reality dramatized by dance artists

Reality dramatized by dance artists JAKARTA (JP): Dance is an expression of thought and feelings combined with spontaneous or practiced movements.That statement, made by the head of the Jakarta Arts Council dance committee, Maria D.

Share prices, rupiah gain ground in active trading

Share prices, rupiah gain ground in active trading JAKARTA (JP): After weeks of decreases, share prices surged in active trading yesterday in line with the bullish sentiment in regional markers.Securities and foreign exchange dealers said that the bullish regional market and no news of riots in the...

New party to fight for equal rights for all

New party to fight for equal rights for all JAKARTA (JP): A new political party was announced yesterday, this one promising to fight for equal rights for every group and segment of society as mandated by the 1945 Constitution.

DKP to recommend Prabowo's trial, says Gen. Subagyo

DKP to recommend Prabowo's trial, says Gen. Subagyo JAKARTA (JP): The chief of the Officers Honor Council, Gen. Subagyo Hadisiswoyo, confirmed yesterday the seven-member body would recommend that former commander of the Army's Special Force (Kopassus) Lt. Gen.

Government finally issues ruling on assets revaluation

Government finally issues ruling on assets revaluation JAKARTA (JP): The government issued yesterday its long-waited ruling on assets revaluation, which allows companies to revalue their fixed assets annually rather than quinquennially as previously governed.

Meeting switched after riot rumors

Meeting switched after riot rumors SEMARANG: The organizers of a meeting of Indonesian travel bureaus have postponed it until next month because of rampant rumors that a riot would break out this weekend.

Peruri to cooperate with foreign firms

Peruri to cooperate with foreign firms JAKARTA (JP): State securities paper and bank note printing company Peruri will cooperate with foreign companies in building its new securities paper plant."The plant should have been established last year but since our former partner PT Tridaya could not...

Indonesian reports shake sentiment in debt market

Indonesian reports shake sentiment in debt market HONG KONG (Dow Jones): The fragile sentiment in Asian debt markets was shaken yet again this week as reports that Indonesia had defaulted on its sovereign debt sent yields soaring and worried bankers into conference rooms.

The interest for Aug.18/Aug.23

The interest for Aug.18/Aug.23 Time deposit Maximum rate (%) Maximum rate (%) Rupiah U.S. dollar---------------------------------------------------1-month 59 153-month 54 146-month 44 1412-month 43 1424-month 27 18 Maximum overnight rate for rupiah : 70 percentMaximum overnight rate for U.S.

Pasaraya provides free circumcisions

Pasaraya provides free circumcisions JAKARTA (JP): Retailer PT Pasaraya Nusakarya provided free circumcisions to 53 young boys at its Pasaraya Manggarai shopping center in South Jakarta yesterday, an executive of the firm said.

ICMI criticizes opposition figures

ICMI criticizes opposition figures JAKARTA (JP): The Association of Indonesian Moslem Intellectuals (ICMI), an organization chaired since its inception by President B.J. Habibie, blasted government critics yesterday, saying much of their criticism was unproductive and a waste of time.

Garin's new film portrays life of Yogyakarta's street children

Garin's new film portrays life of Yogyakarta's street childrenBy Rayya Makarim JAKARTA (JP): When one combines high-tech post production facilities, Dolby sound, a multiple-award-winning actress, and one of Indonesia's leading directors, one would expect a movie of outstanding caliber.

Jakarta's public transport slowing to a halt

Jakarta's public transport slowing to a haltBy Stevie Emilia JAKARTA (JP): It was about 10 a.m. A young woman kept on looking at her watch and stared down the street. Sweat made her face wet and her hair damp. More than 30 minutes had passed, yet there was no sign of the bus she was waiting for.

Residents urge Sentul village head to quit

Residents urge Sentul village head to quit BOGOR (JP): About 200 Sentul residents in Citeureup district here visited the regency legislative council on Thursday to campaign for the dismissal of their village head for being too authoritarian.

Workers 'should be made shareholders'

Workers 'should be made shareholders' JAKARTA (JP): Minister of Manpower Fahmi Idris suggested yesterday workers be given a stake in their companies to help improve their productivity and social welfare.

Bahana, Danareksa to merge

Bahana, Danareksa to merge JAKARTA (JP): The government will merge state-owned investment companies PT Bahana Pembinaan Usaha and PT Danareksa into an independent entity to boost efficiency, a source said yesterday.

Minimum provisions set for RI loan

Minimum provisions set for RI loan AMSTERDAM (Dow Jones): Nederlandsche Bank has put a number of Asian countries, including Indonesia, on a list of countries for which banks need to have a minimum amount of provisions for outstanding loans.

Big names form group for justice

Big names form group for justice JAKARTA (JP): A group of former student leaders and activists of the 1966 generation yesterday formed an opposition group to fight unjust policies of President B.J. Habibie's administration.

Newmont donates Rp 1.2b

Newmont donates Rp 1.2b JAKARTA (JP): Mining company PT Newmont Minahasa Raya said yesterday it would donate Rp 1.2 billion (about US$92,000) in funds for the welfare of the people of Minahasa, North Sulawesi.

Media must balance freedom, responsibilities

Media must balance freedom, responsibilitiesBy Dean Boulding JAKARTA (JP): There have recently been a number of letters and articles in The Jakarta Post surrounding the publication of the article Ethnic Chinese responsible for riots.

ABRI faction

ABRI faction Correction: In the story "Subagyo, Sjafrie become MPR members" that appeared on this page yesterday, we mistakenly identified Achmad Rustandi as a legislator of the Indonesian Democratic Party. He is from the Armed Forces faction. We apologize for the error. -- Editor