Indonesian Political, Business & Finance News

Archive: 15 January 1999

57 articles found

Postal firm busy ahead of Idul Fitri

Postal firm busy ahead of Idul Fitri JAKARTA (JP): The amount of money that has been sent out of the city by state-owned postal company PT Pos Indonesia through money orders seven days ahead of the Idul Fitri holiday quadrupled to Rp 40 billion (US$5.

A case at last in Riau court

A case at last in Riau court PEKANBARU, Riau: Dormant court dealings received a jolt with the first case filed before the State Administrative Court here since its establishment three years ago.A resident, Hasbullah, sued President B.J.

Floods hit crops in Sumatra; another victim found in Bali

Floods hit crops in Sumatra; another victim found in Bali JAKARTA (JP): Floods have hit South Sumatra regencies but residents have refused to budge despite several warnings from the authorities, saying Thursday they most feared for the safety of their crops.

Sukarno-Hatta airport to be leased to foreign firm

Sukarno-Hatta airport to be leased to foreign firm JAKARTA (JP): The Soekarno-Hatta International Airport is to be leased to a foreign airport management service company under a 30 year concession contract, said the president of state-owned airport management company PT Angkasa Pura II, Miskul...

Return to sender

Return to sender The Japanese people's disquiet about Indonesia's handling of its rice aid is a classic example of the low opinion foreigners have of the Indonesian government's integrity. They have good reason to be apprehensive.

Former battalion commander to go on trial in Aceh

Former battalion commander to go on trial in Aceh JAKARTA (JP): A former battalion commander in Aceh, whose men were involved in the torture-killing of four people under military detention, is due to go on trial this week, the local military police chief said on Thursday.

Government sells 100m shares in Indofood

Government sells 100m shares in Indofood JAKARTA (JP): The government has sold 100 million shares, or 53.76 percent of its total stake, in the publicly listed instant noodle maker PT Indofood Sukses Makmur for Rp 5,000 each, a senior government official said.

Confusion undermining emergency funds program

Confusion undermining emergency funds program JAKARTA (JP): Executives of Village Resilience Boards (LKMD) have been finding it hard to cope with a sudden influx of community development funds worth more than Rp 109 billion due to a lack of guidance.

Soehartos to holiday in Surakarta

Soehartos to holiday in Surakarta JAKARTA (JP): Former president Soeharto and his entire family are planning to say their Idul Fitri prayer at Dalem Kalitan complex in the Central Java town of Surakarta, which was owned by his late wife, Tien Soeharto, according to a spokesman.

Capital controls work as 'shield' for KL

Capital controls work as 'shield' for KL LONDON (Reuters): Capital controls imposed at the height of last year's emerging markets crisis will help shield Malaysia from the current Brazil-inspired turmoil, a Malaysian minister said on Wednesday.

PGN targets Rp 368.4m profit

PGN targets Rp 368.4m profit JAKARTA (JP): State-owned natural gas distribution company PT Perusahaan Gas Negara (PGN) expects to record a 242 percent increase in net profits as it marks up Rp 368.4 billion (US$46 million) this year against Rp 107.5 billion last year.Company president A.

Residents report spat with military

Residents report spat with military SERUI, Irian Jaya (JP): Residents reported to councilors on Wednesday alleged beatings by military personnel in Yapen Waropen regency.Three people told council speaker J.

Ginandjar clarifies rice distribution

Ginandjar clarifies rice distribution JAKARTA (JP): Responding to Japan's concern over reports of problems in the distribution of its rice loan, Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita invited on Thursday any parties, including journalists and nongovernmental...

Mashill needs Rp 300b to meet CAR terms

Mashill needs Rp 300b to meet CAR terms JAKARTA (JP): Bank Mashill will need Rp 300 billion in fresh capital to meet the 4 percent capital adequacy ratio (CAR) mandated by the government for all publicly listed banks by March, its executives said on Wednesday.

EVA Air clarifies

EVA Air clarifies Herewith, we would like to further clear up misunderstandings arising from the article CAL, Eva review schedules in the Business and Investment section on page 9 of The Jakarta Post, Jan. 7, 1999.

Luxemburg assists Thailand

Luxemburg assists Thailand BANGKOK (DPA): Luxemburg Prime Minister Jean-Claude Juncker pledged on Thursday to lobby the European Union for a reappraisal of Thailand's lost general system of preferences (GSP) privileges.

Killings have no link to military reshuffle

Killings have no link to military reshuffle SURABAYA (JP): Maj. Gen. Djoko Subroto, who has headed the Brawijaya Military Command for only six months, was replaced on Thursday by Maj. Gen. Ryamizard Ryacudu.Army Chief of Staff Gen.

China seeks Hollywood star power Nanjing Massacre

China seeks Hollywood star power Nanjing MassacreBy H. Asher Bolande NANJING, China (AFP): China has begun negotiations with Hollywood's top stars and producers in hopes of making an award- winning Schindler's List of its own to dramatize the horrific 1937 Nanjing Massacre.

Idul Fitri exodus may fall short of forecasts

Idul Fitri exodus may fall short of forecasts JAKARTA (JP): The number of residents leaving the city by bus ahead of this year's Idul Fitri holiday is not expected to reach the set target of 1.2 million, down from 1.4 million last year, an official said on Thursday.J.P.

Clinton moves to reassure global financial markets

Clinton moves to reassure global financial markets WASHINGTON (AP): President Clinton is trying to restore confidence in financial markets after an abrupt devaluation of Brazil's currency called into question his strategy for dealing with the 18-month-old global economic crisis.

Gunmen hold up 50 Dakar Rally competitors

Gunmen hold up 50 Dakar Rally competitors PARIS (Reuters): Mauritanian troops on Thursday hunted highway robbers fleeing across the Sahara desert after robbing about 50 Dakar Rally competitors at gunpoint, organizers said on Thursday.

Malaysia opposed to U.S. mediation

Malaysia opposed to U.S. mediation KUALA LUMPUR (AP): Malaysia opposes any mediation by the United States or other third parties to resolve a dispute between six Asian nations over the Spratly Island chain, local media reported Thursday.

Sex and corruption strange bedfellows in Anwar trial

Sex and corruption strange bedfellows in Anwar trialBy Nelson Graves KUALA LUMPUR (Reuters): Sex and corruption have been strange bedfellows from the start of Anwar Ibrahim's trial.But they were never stranger than on Wednesday when government prosecutors abruptly altered four charges against...

Going to bat for Habibie

Going to bat for HabibieFrom MerdekaI was unsettled to read in the Dec. 17 Kompas daily that Mr. Baramuli, who chairs the Supreme Advisory Council, made a speech in the South Sulawesi capital Ujungpandang in which he campaigned for the ruling Golkar to win the next general election.

Minister defends social safety net program

Minister defends social safety net program JAKARTA (JP): Officials insisted on Thursday that a sufficient amount of control of the government's social safety net program was already in place, rebuffing criticisms over the slow distribution of aid and a lack of transparency in the program.

Thailand seeks Myanmar help

Thailand seeks Myanmar help BANGKOK (AFP): Thailand's narcotics chiefs have officially asked for Myanmar's help to track down a suspected drug lord thought to be hiding in the jungles along the Myanmar border, officials said Wednesday.

'Lampung Pos' office attacked

'Lampung Pos' office attacked BANDARLAMPUNG, Lampung: Dozens of people attacked the office of Lampung Pos daily on Thursday, apparently incensed by an erroneous news item, Antara reported.The mob almost hit chief editor Bambang Eka Wijaya. They reportedly arrived in three hired buses.

Flood inundate nine subdistricts

Flood inundate nine subdistricts JAKARTA (JP): Hundreds of houses in nine subdistricts in North and South Jakarta were inundated on Wednesday night following a heavy downpour in the capital.Floodwaters of up to 80 centimeters deep engulfed eight subdistricts in South Jakarta, with Kramat Pela,...

Indonesian found dead in Kuala Lumpur

Indonesian found dead in Kuala Lumpur JAKARTA (JP): A 21-year-old Indonesian cleaner was found dead in the New Straits Times building in Kuala Lumpur, Antara reported on Wednesday.It identified the deceased as Muji Yanto Samian, an employee of Alam Anika Ltd.

RI out to better business ties with Singapore: Report

RI out to better business ties with Singapore: Report SINGAPORE (AP): Indonesia is promoting joint ventures with small and medium-sized businesses in other Asian countries in order to distribute economic resources more equitably, a Singapore newspaper reported on Thursday.

Civil servants issue likely to be dropped from bills

Civil servants issue likely to be dropped from bills JAKARTA (JP): Two Cabinet ministers hinted on Thursday that the controversial issue of the political role of Indonesia's 4.1 million civil servants would likely be dropped from the political bills being deliberated by the House of...

New age sparks millenarianism

New age sparks millenarianismBy Marianus Kleden This is the first of two articles about a new age in the revived spirit of millenarianism. KUPANG, East Nusa Tenggara (JP): Millenarianism, a popular belief of the coming of a just king to free an oppressed nation, seems prevalent among Indonesians...

Govt drafts new bill to monitor forex transfers

Govt drafts new bill to monitor forex transfers JAKARTA (JP): The government plans to strictly monitor the flow of foreign exchange by requiring all transfers of capital in and out of the country to be reported, according to a new draft law.

Agriculture budget 'too small'

Agriculture budget 'too small' JAKARTA (JP): The massive cut in the allotment for the agricultural sector in the 1999/2000 State Budget reflects the government's ignorance in identifying and taking advantage of the country's most promising sector, analysts have said.

IBRA to unload 27% of assets under its control

IBRA to unload 27% of assets under its control JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) plans to unload 27 percent of the Rp 96 trillion (US$12.8 billion) in assets taken over from banks under its control this year.

Custom officials foil 19 smuggling attempts

Custom officials foil 19 smuggling attempts TANGERANG (JP): The customs and excise office of the Soekarno- Hatta International Airport have managed to foil 19 smuggling attempts of items worth about Rp 782.2 billion (US$97.77 million) over the last 10 months, an official said on Thursday.

South Korean to sue immigration directorate

South Korean to sue immigration directorate JAKARTA (JP): A South Korean businessman plans to sue the immigration directorate for arresting him on Jan. 12 and trying to deport him on allegations that he was a member of a dangerous criminal group.

Ramadhan time for Jakarta

Ramadhan time for JakartaFridayMaghrib 6:18 p.m.SaturdayImsak 4:17 a.m.Subuh 4.27 a.m.

Yayuk Basuki named Fed Cup team coach

Yayuk Basuki named Fed Cup team coach JAKARTA (JP): Shortly after her retirement from competitive tennis at this month's Australian Open, Yayuk Basuki will embark on a new career as a coach of the women's national team.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 14, 1999: Shares Close Change Trading Volume ------------------------------------------------------ Ades Alfindo 400 -50 105,000 AHAP Insurance 400 0 0 Alter Abadi 275 -25 10,000 Alumindo Light Metal 300 0 17,500 Alumindo...

Forestry concessions to be auctioned

Forestry concessions to be auctioned JAKARTA (JP): The government, for the first time, will auction three forest concessions in East and Central Kalimantan early next month.Director General of Forest Utilization Waskito Soerjodibroto said the concessions averaged 50,000 hectares to 100,000 hectares...

Unocal speeds up projects

Unocal speeds up projects EL SEGUNDO, California (Reuters): Unocal Corp. said on Wednesday it will move up development plans for its deepwater West Seno oil and gas field offshore Indonesia to the second quarter of 1999 based on successful exploration results.

Australia stands by Timor gap treaty

Australia stands by Timor gap treaty CANBERRA (Dow Jones): The Australian government has dismissed calls for a review of a Timor Gap treaty with Indonesia, which allows the two nations to jointly exploit petroleum resources in the area, in the wake of Australia's decision to advocate self-...

Indonesia-Singapore to sign gas sales agreement today

Indonesia-Singapore to sign gas sales agreement today JAKARTA (JP): State oil and gas company Pertamina has said it will on Friday (today) sign a contract to supply Singapore's Sembawang Gas (SembGas) with natural gas from the West Natuna gas fields through a 640-kilometer underwater pipeline.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Jan. 14, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,525.00 8,675.00 8,525.00 8,725.00Australian dollar 1 5,279.35 5,511.95 5,279.00 5,579.00Belgian franc 1 236.16 251.80 - -Brunei dollar 1 - - 4,964.

Golkar figures launch new political party

Golkar figures launch new political party JAKARTA (JP): A group of disenchanted senior Golkar figures are to complete their separation from the dominant grouping on Friday morning by officially launching the Justice and Unity Party (PKP).

Banks suit claim 'ANteve' bankrupt

Banks suit claim 'ANteve' bankrupt JAKARTA (JP): Three foreign investment banks filed a bankruptcy claim on Thursday against private television station PT Cakrawala Andalas Televisi, known as ANteve.Lawyer Joni Aries Bangun for the banks Hong Kong-based IBJ Asia Ltd.

Unrest continues in Luwu regency

Unrest continues in Luwu regency LUWU, South Sulawesi (JP): Clashes among residents from several villages in the district of Sabbang in Luwu regency which have killed at least three people and injured dozens more continued on Thursday.

ASEM meeting sparks talk of forging more stability

ASEM meeting sparks talk of forging more stability SINGAPORE (Reuters): Finance ministers from Asia and Europe get together for the second time on Friday, and with the advent of the euro are getting more focused on the idea of a single Asian currency.The birth of the euro on Jan.

Australia's shift on East Timor

Australia's shift on East Timor Australia's decision to push for eventual independence for East Timor will give a boost to a people who continue to suffer, in spite of all that has been done to try to bring peace to the province.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Calligraphy Exhibition: by Yoesoef Effendie, at Jl. Mesjid I/19, Pejompongan, West Jakarta (Phone: 5733912), until Jan. 18. * Batik, Furniture Exhibition: Batik dan Antik, at Galeri TC, Jl. Kemang Raya No. 24A, South Jakarta (Phone: 7194278), Sunday, at 10:30 a.

Concern over Brazil drags market down

Concern over Brazil drags market down JAKARTA (JP): The country's plagued financial market dropped again for the second consecutive day on Thursday with the rupiah losing 1 percent and shares prices falling 2.5 percent.

Southeast Asian currencies ride out Brazilian storm

Southeast Asian currencies ride out Brazilian storm SINGAPORE (Dow Jones): Southeast Asian currencies survived a day of nervous trading activity following the effective devaluation of the Brazilian real, to end Asian hours on Thursday mixed against the U.S. dollar.

Leading reformists no-shows at dialog on disintegration

Leading reformists no-shows at dialog on disintegration JAKARTA (JP): The trumpeted national dialog to avert disintegration was not as star-studded as promised on Thursday when leading reform figures Amien Rais, Abdurrahman Wahid, Megawati Soekarnoputri and Sri Sultan Hamengkubuwono X failed to...

Ramadhan keeps mosques busy throughout the night

Ramadhan keeps mosques busy throughout the nightBy Mehru Jaffer JAKARTA (JP): Throughout Ramadhan, the ninth month of the Muslim year, mosques bustle with numerous activities that continue round the clock and revolve around fasting, a ritual that is one of the five pillars of Islam.

Travel drive makes way for Indo-Pakistani ties upgrade

Travel drive makes way for Indo-Pakistani ties upgrade AMRITSAR, India (AP): Pakistani officials were greeted with flowers and candy on Thursday as they crossed into India by a bus that will soon bring ordinary people from both countries together.

Woman found dead outside home

Woman found dead outside home JAKARTA (JP): Neighbors found a housewife dead in front of her home early on Wednesday morning in a red-light district in East Jakarta.Karniti, 35, is believed to have died from a single stab wound to her heart.