Indonesian Political, Business & Finance News

Archive: 28 August 1998

59 articles found

UNWF begins $90m food aid scheme for RI

UNWF begins $90m food aid scheme for RI JAKARTA (JP): The United Nations World Food Program has started its US$90 million emergency operation to help feed 5.3 million Indonesians hardest hit by last year's severe drought and the economic crisis.WFP country representative Philip J.

Crowds loot rice mills, stores and plantations

Crowds loot rice mills, stores and plantations JAKARTA (JP): Troops clamped down yesterday on mobs attacking and pillaging rice mills, shops and plantations in several regions yesterday, leaving one dead, several injured and scores arrested.

RI politics still a host of uncertainties

RI politics still a host of uncertaintiesBy Peter Richards This is the first of two articles on possible developments in Indonesian politics ahead of the general election planned for May 1999. JAKARTA (JP): Eighteen weeks of living dangerously began on May 21, when president Soeharto stepped down.

'Only change of govt' will solve the crisis

'Only change of govt' will solve the crisis JAKARTA (JP): A complete change in government is the only way to put the Indonesian economy on the road to recovery from its worst crisis in three decades, economist Rizal Ramli said yesterday.The director of the Econit think tank argued that President B.

Indonesian as a foreign language

Indonesian as a foreign language The article Are we ready for IFL teaching? published on Aug. 22, 1998 has highlighted many of the problems of teaching Indonesian as a foreign language. My experience as a teacher of IFL in Australia from 1976 to 1996 is that the situation in Australia may be...

Workshop on combating haze

Workshop on combating haze MANILA (AFP): Southeast Asian governments and international donors are to hold a workshop here next week to step up cooperation in fighting haze from forest fires of the sort which enveloped the area last year, the organizers said yesterday.

Antimonopoly law on the cards for next year

Antimonopoly law on the cards for next year JAKARTA (JP): A bill on fair business competition is expected to be submitted to the legislature before the end of December and become law early next year, in accordance with the schedule of the bailout agreement with the International Monetary Fund (IMF).

Sultan gets further backing

Sultan gets further backing PURWOKERTO, Central Java: Central Java and Yogyakarta Military Commander Maj. Gen. Tyasno Sudarto said here yesterday that Yogyakartans' decision to hold a people's council and inaugurate Sri Sultan Hamengkubuwono X as their governor was a true expression of people's...

Rupiah fails to breach 11,000 level against dollar

Rupiah fails to breach 11,000 level against dollar JAKARTA (JP): The rupiah ended slightly lower against the U.S. dollar in quiet dealing yesterday, failing to breach the psychological 11,000 level due to dollar-buying orders by offshore operators, currency dealers said.

Rubber prices end lower

Rubber prices end lower SINGAPORE (AFP): Rubber futures prices in Singapore ended lower yesterday on bigger turnover, dealers said.Volume for the three contracts traded on the Singapore Commodity Exchange Ltd rose to 9,470 tons from 3,160 tons traded a day earlier.

All construction firms are bankrupt

All construction firms are bankrupt JAKARTA (JP): Every one of the country's construction companies would be forced to declare bankruptcy if a newly introduced bankruptcy law is strictly implemented, a senior figure in the construction industry has said.

Will our new-found freedom last?

Will our new-found freedom last?By Ignas Kleden This is the first of two articles on state and democracy. JAKARTA (JP): The relationship between a strong government and democracy in Indonesia is not very difficult to identify.

City gives Tommy two months to vacate buildings

City gives Tommy two months to vacate buildings JAKARTA (JP): The local authorities will take stern measures against former president Soeharto's youngest son if two disputed office buildings he owns on Jl.

Economic crisis hits new home buyers

Economic crisis hits new home buyers JAKARTA (JP): Many home owners are finding themselves unable to keep up with payments on loans taken out to finance the purchase of their properties because of high interest rates, chairwoman of the Indonesian Consumers Foundation (YLKI) Tini Hadad said...

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 Management Program: Kiat...

Rahardi stresses competitive bidding for foodstuff puchases

Rahardi stresses competitive bidding for foodstuff puchases JAKARTA (JP): The acting chairman of the State Logistics Agency (Bulog) Rahardi Ramelan said yesterday he would review the agency's international tender mechanism for buying foodstuffs but insisted that competitive bidding would be the...

Senong to build US$500m railroad in E. Kalimantan

Senong to build US$500m railroad in E. Kalimantan JAKARTA (JP): Local company PT Senong Corporindo plans to build a US$500 million railroad network in East Kalimantan to transport coal and forest products around the province, the company said yesterday.

Habibie wants to build 'a democratic RI'

Habibie wants to build 'a democratic RI' JAKARTA (JP): President B.J. Habibie reiterated his strong ambition yesterday to make Indonesia a peaceful, wealthy and democratic country.He said in the effort to realize the ambition, the nation needed to learn from history in order to prevent a repeat of...

Men urged to be aware of reproductive health

Men urged to be aware of reproductive health JAKARTA (JP): Men are being urged to be more aware and responsible about reproductive health as it is not merely an issue which concerns women alone.Kartono Muhammad, former head of Indonesian Doctors Association, yesterday lamented the fact that there...

Bad loans 'an obstacle to bank restructuring'

Bad loans 'an obstacle to bank restructuring' JAKARTA (JP): Non-performing loans (NPLs) are estimated to have reached a value equivalent to 50 percent of the total credit extended by the country's commercial banks, an official said yesterday.

Kontras counters Wiranto statement on Aceh victims

Kontras counters Wiranto statement on Aceh victims JAKARTA (JP): Leading rights activist Munir shot back at Armed Forces Commander Gen. Wiranto yesterday for speculating that human remains unearthed recently from mass graves in Aceh could have been victims of the turmoil following the 1965...

Three executives of suspended banks held

Three executives of suspended banks held JAKARTA (JP): Three senior executives of three private banks suspended by the government last Friday were charged yesterday with violating a banking law, a reliable police source said.They are also being detained at the National Police Headquarters, he said.

Bank Bali's profit drops slightly

Bank Bali's profit drops slightly JAKARTA (JP): Publicly listed Bank Bali announced yesterday a 10 percent drop in its net profit in the first half of this year, recording Rp 67.87 billion (about US$6 million) from Rp 75.87 billion in the same period of 1997.

Singaporeans held in Russia

Singaporeans held in Russia SINGAPORE (DPA): Four tourists from Singapore and one from Malaysia riding the Trans-Siberian Railway were detained and not given food for four days by Russian officials, who accused them of carrying fake passports, a news report said yesterday.

On suing banks

On suing banks This is in response to S. Suradi's letter on July 18: On suing RI, BI and Exim Bank.Usually, before commencement of informal court, both sides (the plaintiff and the defendant can confer to seek mutual understanding (about two months).

Panggabean denies 'Supersemar' claim

Panggabean denies 'Supersemar' claim JAKARTA (JP): Gen. (ret.) Maraden Panggabean has denied the account of a former adjutant of Sukarno that he forced the founding president at gunpoint to relinquish power to the then minister of the Army, Lt. Gen.

ARCO to push on with Irian gas project despite crisis

ARCO to push on with Irian gas project despite crisis JAKARTA (JP): The U.S. Atlantic Richfield Co (ARCO) and British Gas (BG) are pushing on with their Tangguh liquefied natural gas (LNG) project in Irian Jaya despite the global downturn in demand.

Retired general

Retired general Correction: In the story Sukarno aide wants his good name back which appeared on this page Wednesday, we erroneously described Maj. Gen. (ret) Maraden Panggaben as the late Maj. Gen. (ret) M. Panggabean. We apologize for the error. -- Editor

Planet Hollywood Jakarta rocked by bomb hoax

Planet Hollywood Jakarta rocked by bomb hoax JAKARTA (JP): Planet Hollywood restaurant received a bomb threat yesterday afternoon, forcing the management to ask hundreds of customers to immediately leave the premises.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Ceramics, Sculptures, Accessories Exhibition: Noon at Majapahit-High Tea, by Harry Darsono Couture, The Dharmawangsa, Jl. Brawijaya Raya 26, South Jakarta (Phone: 7258181), 4 p.m. to 6 p.m., until Sept. 3.

Purging bad bankers

Purging bad bankers Good bank governance will remain an elusive ideal in Indonesia if the supervisory and regulatory authority continues to place too much emphasis on financial ratios such as capital adequacy, as Finance Minister Bambang Subianto indicated Tuesday.

Teenagers teach themselves as sex education still taboo

Teenagers teach themselves as sex education still tabooBy Yogita Tahil Ramani and Yudha Kartohadiprodjo JAKARTA (JP): The oldest profession in the world has accumulated hundreds of justifications for its existence over time, the most prevalent ones usually touching on unemployment and poverty.

57 stalls razed amid vice charge

57 stalls razed amid vice charge TANGERANG (JP): Local public order officers bulldozed at least 57 sidewalk stalls in Kosambi district Wednesday on grounds they fronted for prostitution practices.Irate owners of the kiosks in Tahang and Dadap subdistricts tried to prevent the officers, who were...

Government wants to keep state powerful: Analyst

Government wants to keep state powerful: Analyst JAKARTA (JP): The government of President B.J. Habibie has moved to consolidate the power of the state even as it forges ahead with democratization programs, an American scholar has said.

Soeharto stamps get the chop

Soeharto stamps get the chop BANDUNG, West Java: State-owned postal company PT Pos Indonesia will no longer print stamps bearing the image of former president Soeharto, head of the company's philately division Mulyanto said here yesterday.

New PDI chief gets govt recognition

New PDI chief gets govt recognition JAKARTA (JP): The government has officially recognized Budi Hardjono as the new chairman of the conflict-ridden Indonesian Democratic Party (PDI).Budi was elected to the party's leadership on Wednesday during a congress marred by violent clashes and allegations...

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 27, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 325 0 0 AHAP Insurance 400 0 0 Alter Abadi 200 -25 50,000 Alumindo Light Metal 275 0 0 Alumindo Perkasa 225...

SIA leases Airbus planes

SIA leases Airbus planes SINGAPORE (DPA): Singapore Airlines' aircraft leasing arm, Singapore Aircraft Leasing Enterprises (SALE), has placed orders with the European consortium Airbus Industrie for two more A320 planes, Airbus said yesterday.

Once booming Malaysia falls into recession

Once booming Malaysia falls into recession KUALA LUMPUR (AP): Malaysia has fallen into full-blown recession, with its once booming economy shrinking by 7 percent, the government announced yesterday.Prime Minister Mahathir Mohamad said the country's second quarter gross domestic product shrank a...

Contract workers face lay-off

Contract workers face lay-off JAKARTA (JP): A Bekasi council deputy speaker has urged the local regency administration office to review its plan to lay off 1,000 contract workers.According to councillor M.

S&P affirms ratings on seven Indonesian banks

S&P affirms ratings on seven Indonesian banks MELBOURNE (Dow Jones): Standard & Poor's credit rating agency yesterday affirmed its ratings on seven Indonesian banks and withdrew its rating on one bank, following the Indonesian government's recent announcement to either merge, freeze, or nationalize...

RI beats RP in first step of Tiger Cup campaign

RI beats RP in first step of Tiger Cup campaign HANOI (Agencies): Indonesia opened its bid for the Tiger Cup title with a well-deserved 3-0 win over the Philippines yesterday.The Indonesians had gone two goals ahead in the first half, thanks to a 14th minute own goal by the Philippine defender Judi...

Govt to set up team probe private banks

Govt to set up team probe private banks JAKARTA (JP): The government said yesterday it would soon establish a special team to probe possible fraud in the use of Bank Indonesia's liquidity credits given to private banks.

Photo show puts in focus blue and gray of urban skies

Photo show puts in focus blue and gray of urban skies JAKARTA (JP): A traditional superheroine in Javanese attire flies through a colorful and harried Jakarta, complete with ash- gray buildings and neon signs.

Boredom and brand names motivate Blok M prostitutes

Boredom and brand names motivate Blok M prostitutes JAKARTA (JP): It seems that discussing sex in public is no longer considered taboo here. The subject is a hot topic not only for some TV talk shows but also in seminars.But not in schools.

KONI gets 31 fund-raising proposals

KONI gets 31 fund-raising proposals JAKARTA (JP): The recent cancellation of a plan to raise funds for sports through the sale of coupons has elicited a positive response from the public, a National Sports Council official said yesterday.

Ulemas protest regent candidates

Ulemas protest regent candidates BOGOR (JP): About 500 ulemas went to the Bogor Legislative Council Tuesday to protest the way Bogor regent candidates were selected, which according to them was unfair.The ulemas said they were strongly dissatisfied with the way the council chose a shortlist of five...

Celebrity cafes at Monas queried

Celebrity cafes at Monas queried JAKARTA (JP): The Jakarta Legal Aid Institute has questioned Governor Sutiyoso's decision to allow food stalls and street cafes, run mostly by celebrities, at the National Monument (Monas) park in Central Jakarta.

My lesson in life

My lesson in lifeFrom KompasLured by an advertisement and a nonbinding invitation by Ibu Ester, a friend and I went for a meeting to obtain further information on "Lessons for Life" on June 29.I told Bapak Nico there of my intention to enroll for the lessons and he referred me to Bapak Hary, who...

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Aug. 27, 1998: Buying Selling Rp Rp U.S. dollar 1 10,950.00 11,450.00Austrian shilling 1 836.00 937.00Australian dollar 1 6,166.00 6,469.00Belgian franc 1 296.00 308.00Canadian dollar 1 6,989.

Current signs show recovery still years away

Current signs show recovery still years awayBy Santo Koesoebjono This is the first of two articles on what Indonesia should do to overcome the economic crisis. WASSENAAR, the Netherlands (JP): "Life is hard for our people these days but we will come out stronger and better in two to three years...

Mid-May riots were provoked by agitators: Governor

Mid-May riots were provoked by agitators: Governor JAKARTA (JP): Jakarta Governor Sutiyoso indicated yesterday that the mid-May riots were not only an expression of people's anger over the nation's economic disparity but were provoked by agitators.

RP captures rebel leader

RP captures rebel leader ZAMBOANGA, Philippines (AFP): One of the top leaders of the Abu Sayyaf extremist guerrilla group in the Philippines has been captured, while five other members of the group were slain in a separate clash, police said yesterday.

Government to defer enforcement of labor law

Government to defer enforcement of labor law JAKARTA (JP): The government is set to postpone the enforcement of a controversial new labor law, scheduled to take effect Oct. 1, until it is revised.Secretary-General of the Ministry of Manpower Soewarto said yesterday the ministry had decided to defer...

4,000 left homeless in Penjaringan fire

4,000 left homeless in Penjaringan fire JAKARTA (JP): Fire gutted 682 houses and a mosque early yesterday in a densely packed residential area in Penjaringan, North Jakarta, leaving about 4,000 people homeless.

Rice price to remain volatile until April: Soleh

Rice price to remain volatile until April: Soleh JAKARTA (JP): Minister of Agriculture Soleh Solahuddin admitted yesterday that the market price of rice was likely to remain volatile until the next major harvest in April.

Mediator

Mediator If the two disputing Indonesian Democratic Party (PDI) camps, Megawati Soekarnoputri's and Soerjadi's, finally come to a dead-end in their long-dragging conflict, I'm in a position to act as their mediator.

Regional currencies creep up marginally

Regional currencies creep up marginally SINGAPORE (Dow Jones): Southeast Asian currencies are mostly steady to slightly higher against the U.S. dollar in late Asian trading yesterday on low to moderate volumes.

Covey center announces new name

Covey center announces new name JAKARTA (JP): The Covey Leadership Center for Indonesia announced its new name yesterday resulting from its parent company's merger with Franklin Quest, a major provider of productivity materials and services which has 120 retail stores in the United States.