Indonesian Political, Business & Finance News

Archive: 2 September 1998

53 articles found

Formula Asia final at Sentul

Formula Asia final at Sentul JAKARTA (JP): The Sentul circuit in Bogor, West Java, is to host the fourth and final leg of the Formula Asia motor racing championship series on Sunday.Local top drivers including Chandra Ali, Moreno Soeprapto, Stanley Iriawan, Harry Dharma Manoppo, Fino Saksono and...

Termites invade Estrada's palace

Termites invade Estrada's palace MANILA (AFP): Termites are stubbornly preventing President Joseph Estrada from moving into his presidential palace quarters two months into his presidency, he revealed on Monday.

UGM, Kikas help small firms

UGM, Kikas help small firms YOGYAKARTA (Antara): The U.S Committee of the Indonesian Chamber of Commerce and Industry (Kikas) and Gadjah Mada University (UGM) on Monday agreed to develop small and medium industries (SMIs) in and around Yogyakarta province by first conducting training courses for...

Ex-employees seeking justice

Ex-employees seeking justice We are writing this letter in order to express our deep concern over Ministry of Manpower regulations which are not implemented accordingly and adhered to by PT Servcorp Indonesia.

Emil leads social safety-net program

Emil leads social safety-net program JAKARTA (JP): A private program to coordinate the distribution of funds for rural societies' non-governmental organizations (NGOs) was established here on Tuesday.The Community Recovery Program (CRP) was set up by a number of NGO and community organization...

How graft rears its ugly head in aid projects

How graft rears its ugly head in aid projectsBy Donna K. Woodward This is the first of two articles on corruption in international aid organizations. MEDAN (JP): Shortly after Indonesia's liberation from the Soeharto reign, allegation after allegation of corruption, collusion and nepotism (KKN)...

Natuna gas pipeline contracts pending

Natuna gas pipeline contracts pending JAKARTA (JP): Contracts for the development of the 640- kilometer subsea gas pipeline which will be used to transmit natural gas from the western part of Natuna Islands to Singapore will be awarded in November, a Singapore's official said here yesterday.

Prabowo on list of rising stars shot down in their prime

Prabowo on list of rising stars shot down in their primeBy Lela E. Madjiah This is the second of two articles exploring the history of Indonesia's fallen officers. JAKARTA (JP): During the Soeharto era, many fine military officers were removed from their positions for opposing Soeharto's policies.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 1, 1998: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 325 0 0 AHAP Insurance 400 0 0 Alter Abadi 225 0 0 Alumindo Light Metal 250 -50 5,500 Alumindo Perkasa...

New foreign investors bidding for BCA: Official

New foreign investors bidding for BCA: Official JAKARTA (JP): Several new foreign investors are currently in a bidding process to acquire the country's largest private bank, Bank Central Asia (BCA), a government official has said.Chairman of the Indonesian Bank Restructuring Agency (IBRA) Glenn S.

Bill on banks

Bill on banksFrom NeracaA bill on banks will be discussed shortly in the House of Representatives. An interesting side of this bill is that foreign companies will be allowed to own 100 percent of a local bank's shares.

Local students stage French play at Erasmus Huis

Local students stage French play at Erasmus HuisBy Izabel Deuff JAKARTA (JP): As a French play is rare here, the performance of Le caillou de M.Pierre (M. Pierre's Stone), by Pierre-Yves Millot, at Erasmus Huis on Thursday and Friday deserves attention.

Ethnic Chinese refugees flock to W. Kalimantan

Ethnic Chinese refugees flock to W. Kalimantan PONTIANAK (JP): Since May, many vehicles with Jakarta license plates, from pickups to sedans, have become a common sight in the streets of various towns in West Kalimantan.

RI education system needs a revolution

RI education system needs a revolutionBy Nirwan Idrus This is the first of two articles on Indonesian education. JAKARTA (JP): Minister of Education and Culture Juwono Sudarsono recently outlined his eight or so basic competencies he would like to see adopted during his term of office.

Tennis star Yayuk longing for a baby: Spouse

Tennis star Yayuk longing for a baby: Spouse JAKARTA (JP): The long delayed plan to have a baby has prompted national tennis queen Yayuk Basuki to set a firm date for retirement next year, her husband and coach Suharyadi said on Monday.

Govt approves sultan's candidacy

Govt approves sultan's candidacy JAKARTA (JP): The government has caved in to overwhelming public sentiment and agreed that Sri Sultan Hamengkubuwono X will be the lone candidate for Yogyakarta's special region governorship.

Rioting and looting continue for second day in North Aceh

Rioting and looting continue for second day in North Aceh JAKARTA (JP): Rioting and looting continued in Lhokseumawe on Tuesday, the second consecutive day of unrest in the Aceh town which erupted on Monday only hours after the second batch of Armed Forces (ABRI) troops withdrew from the area.

Subic port chief loses court appeal

Subic port chief loses court appeal MANILA (Reuters): The Philippine Supreme Court on Tuesday unanimously rejected an appeal by ousted Subic freeport chief Richard Gordon to stay on in his post, and the presidential palace indicated it might use force to evict him.

Office project postponed

Office project postponed TANGERANG (JP): The Tangerang mayoralty has been forced to postpone the construction of an administration office project worth Rp 18 billion (US$1.6 million) due to a lack of funds, an official said on Monday.

Southeast Asia power utility reform essential: Consultant

Southeast Asia power utility reform essential: Consultant SINGAPORE (Dow Jones): Policy-makers in Indonesia, Thailand and Malaysia should put restructuring of their state-owned power utilities at the top of their agendas to address their severe payment crises, an industry consultant said on Tuesday.

Govt reviews deals with Soeharto's kin

Govt reviews deals with Soeharto's kin JAKARTA (JP): The government said on Tuesday that it is reviewing and severing many business contracts signed by its agencies and enterprises with children of former president Soeharto and his crony Muhammad (Bob) Hasan.

W. Kalimantan home to a potpouri of Chinese-Indonesians

W. Kalimantan home to a potpouri of Chinese-IndonesiansBy Edi Petebang PONTIANAK (JP): "God creates, God looks after," said Lao Seng, a 50-year-old iced fruit-cocktail drink vendor. This principle ensures him and his family a harmonious life.

Golf course developer faces first bankruptcy

Golf course developer faces first bankruptcy JAKARTA (JP): Construction firms PT Jaya Obayashi and PT Nusa Raya Cipta filed Tuesday the first bankruptcy claim in the newly established commercial court in Central Jakarta against a golf course and real estate developer.

Kontras urges fresh probe into 1989 Lampung incident

Kontras urges fresh probe into 1989 Lampung incident JAKARTA (JP): The government was strongly urged Tuesday to reinvestigate the Lampung incident in February 1989, which resulted in scores of deaths.Munir, coordinator of the Commission for Missing Persons and Victims of Violence (Kontras), who...

Dharmala defaults on samurai bonds

Dharmala defaults on samurai bonds TOKYO (Bloomberg): Dharmala Intiutama International BV, part of an Indonesian financial conglomerate, has defaulted on 15 billion yen (US$116 million) of samurai bonds, according to the six banks that distribute payments to investors.

Hit-and-run victim hospitalized

Hit-and-run victim hospitalized JAKARTA (JP): A 16-year-old student fell victim to a hit-and- run accident on Jl. Rasuna Said, South Jakarta, on Sunday night.The victim, identified as Hifzi Basah, sustained severe leg injuries after being hit by a speeding sedan at about 9:30 p.m., Antara reported.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Sept. 1, 1998: Buying Selling Rp Rp U.S. dollar 1 10,700.00 11,100.00Austrian shilling 1 832.00 928.00Australian dollar 1 6,109.00 6,358.00Belgian franc 1 294.00 305.00Canadian dollar 1 6,842.00 7,067.

Garuda to lay off 3,000 employees

Garuda to lay off 3,000 employees JAKARTA (JP): National flag carrier Garuda Indonesia will lay off at least 3,000 of its nearly 13,000 employees as early as next month as part of a massive restructuring program, the airline's president, Robby Djohan, said on Tuesday.

Slaps on wrist for RI, Thailand in Tiger Cup

Slaps on wrist for RI, Thailand in Tiger Cup HANOI (Agencies): Southeast Asia's largest soccer tournament will continue in spite of the embarrassing match between Thailand and Indonesia in which both teams tried to lose, it was learned Tuesday.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Silverhawks 3:05 TV Series: Daktari 4:00 Regional News 4:30 Teen Program: Remaja Indonesia 5:00 Teen Drama: Keinginan 5:30 Education Quiz: Cepat Tepat 6:05 Documentary: Rona Nusantara 6:15 Sports 6:30 TVRI News (in English)...

Road conditions deteriorating

Road conditions deteriorating A a resident of Ciputat, South Jakarta, I feel sad to see the deteriorating state of roads everywhere. We, the public, realize that in times like these, when money is scarce, there is no budget for repairs.

Spotlight

SpotlightPhoto A: AndersenAnderson ConsultingROW, ROW, ROW YOUR BOAT: Minister of Mines and Energy Kuntoro Mangkusubroto takes front seat in a boat with "crew members" during the launch of the Andersen Consulting Enterprise Solution Center.

Seat belt ruling to be enforced gradually

Seat belt ruling to be enforced gradually JAKARTA (JP): A seat belt regulation scheduled to take effect Sept. 17 will only be imposed on sedans and jeeps produced in or after 1984, Herman Latif, chairman of the vehicle road worthiness committee, said on Tuesday.

Police receive dossiers on six insolvent banks

Police receive dossiers on six insolvent banks JAKARTA (JP): Police have received the dossiers of six of the 16 insolvent private banks closed by the government last November for allegedly violating the country's banking laws, an official said on Tuesday.

Limit bank ownership by foreigners: Golkar

Limit bank ownership by foreigners: Golkar JAKARTA (JP): The ruling Golkar faction in the House of Representatives voiced concern on Tuesday over the government's plan to scrap foreign ownership restrictions covering the country's commercial banks.

Tadjus reelected Golkar chairman

Tadjus reelected Golkar chairman JAKARTA (JP): Tadjus Sobirin has been entrusted to chair Golkar's Jakarta chapter for the 1998/2003 period after being reelected in a congress which ended on Saturday night.Tadjus was first elected to lead the chapter in 1993.

Habibie to award scholarships

Habibie to award scholarships SEMARANG: President B.J. Habibie is scheduled to award scholarships to elementary, high school and college students in Kendal district, Central Java, on Thursday."The head of state will also extend business loans to people from the lower-income bracket and open a...

Officer cleared of theft accusation

Officer cleared of theft accusation JAKARTA (JP): A police officer accused of stealing US$10,000 from the head of the National Police Directorate of Traffic, Brig. Gen. Ansyar Roem, early this year has been cleared of the charge and released from detention.City police chief Maj. Gen.

A rude ILO awakening

A rude ILO awakening Monday's announcement of the findings of a report commissioned by the Jakarta office of the International Labor Organization (ILO) painted what is undoubtedly the grimmest picture of our economy yet published since the crisis began over one year ago.

Drama of RI's economic crisis

Drama of RI's economic crisis This is the second of two articles excerpted from a paper presented by former finance minister (April, 1993- March, 1998) Mar'ie Muhammad' at the Asia Research Center of Murdoch University in Perth, Western Australia, on Aug. 20, 1998.

Food shortages loom in several far-flung regions

Food shortages loom in several far-flung regions JAKARTA (JP): Food shortages are threatening thousands of West Java and East Kalimantan residents following failed harvests in the two provinces and the soaring price of rice, reports said Tuesday.

Bali facing challenge to keep its harmonious race relations

Bali facing challenge to keep its harmonious race relationsBy Putu Wirata JAKARTA (JP): After the May riots in Jakarta and Surakarta (Solo), many Indonesians, mainly those of Chinese descent, looked to Bali as a safe place to live.

Rupiah strengthens, stocks hit low

Rupiah strengthens, stocks hit low JAKARTA (JP): The rupiah broke the 11,000 barrier against the U.S. dollar to close firmer at 10,950 in moderate trading on Tuesday, but local stock prices fell 4.8 percent to touch another five-year low, currency dealers and stockbrokers said.

Govt to pay civil servants

Govt to pay civil servants SURABAYA: A senior central government official here has firmly denied rumors that the administration would no longer be able to pay civil servants' salaries in three or four months' time.

Policewomen celebrate their 50th anniversary

Policewomen celebrate their 50th anniversary JAKARTA (JP): Indonesia's policewomen, who account for 3.44 percent of the police force's 197,400 members, celebrated their 50th anniversary at National Police Headquarters in a modest way on Tuesday.The ceremony, led by National Police Chief Lt. Gen.

Search for 'Supersemar' original text still on: Akbar

Search for 'Supersemar' original text still on: Akbar JAKARTA (JP): The government has rescinded its stance on the missing March 11, 1966, document known as the Supersemar in which founding president Sukarno handed over power to then Army minister Maj. Gen. Soeharto.

Symposium on peace

Symposium on peace JAKARTA: The United Nations Educational, Scientific and Cultural Organization (UNESCO) and the Association of Southeast Asian Nations (ASEAN) are to hold a symposium on constructing peace in the region on Sept. 11 and Sept. 12 here, Antara reported on Tuesday.

Megawati vows to hold congress, contest election

Megawati vows to hold congress, contest election BANDUNG (JP): Undaunted by the government's continued recognition of a rival camp, Megawati Soekarnoputri of the splintered Indonesian Democratic Party (PDI) vowed on Tuesday she will lead her supporters at the general election next year.

Scorn heaped on national soccer team

Scorn heaped on national soccer team JAKARTA (JP): Indonesia's sports community has expressed regret over blatant gamesmanship by the national soccer team during their losing Tiger Cup game against Thailand on Monday.

Wiranto says criticism of ABRI 'unproportional and excessive'

Wiranto says criticism of ABRI 'unproportional and excessive' JAKARTA (JP): Minister of Defense/Armed Forces (ABRI) Commander Gen. Wiranto said on Tuesday the current condemnation of the military's role in national security was no longer "proportional" and has become excessive.

Textile workers stage protest

Textile workers stage protest TANGERANG (JP): About 1,000 employees of the polyester manufacturing company PT Yasunlitex staged a protest on Jl. Daan Mogot here on Tuesday to demand welfare improvements.

PLN comes up short on orders for new projects

PLN comes up short on orders for new projects JAKARTA (JP): Hundreds of thousands of applications for electricity connections nationwide have been shelved indefinitely because state electricity company PLN lacks funds for the installations, the company said Tuesday.

Trade in second-hand goods hit hard by economic crisis

Trade in second-hand goods hit hard by economic crisisBy Emmy Fitri JAKARTA (JP): Traders at the Urip Sumohardjo flea market in East Jakarta have enjoyed a surge in the number of people looking to sell used goods since the economic crisis first broke last year, but unfortunately they are finding...