Indonesian Political, Business & Finance News

Archive: 10 February 1999

51 articles found

Asian currencies mixed but may weaken in the future

Asian currencies mixed but may weaken in the future SINGAPORE (Dow Jones): Southeast Asian currencies are mixed to mostly steady late Tuesday, reflecting some of the stability of major currencies.The Singapore dollar, Thai baht and Philippine peso are slightly weaker against the U.S.

Local migrants recall bitter memories in 'sweet' Ambon

Local migrants recall bitter memories in 'sweet' AmbonBy Jupriadi UJUNGPANDANG (JP): After the large-scale riots that struck Ambon, thousands of migrants fled the provincial capital of Maluku, returning to their hometowns.

Forestry fund audit set to wind up by June

Forestry fund audit set to wind up by June JAKARTA (JP): International auditors are expected to complete audits of reforestation funds and forest royalties before the June general election, a senior World Bank official said on Tuesday.

Press reminded of its obligations

Press reminded of its obligations JAKARTA (JP): President B.J. Habibie warned the national press on Tuesday not to abuse its freedom by libeling, running agitating reports or those serving to further its ambitions.

CIC placed in Category A

CIC placed in Category A JAKARTA (JP): Publicly-listed Bank Century Intervest Corporation (CIC) falls into Category "A" under the government's banking restructuring program, the bank has said."Category "A" status gives us the ability to make the most of the current situation," CIC president Robert...

'King Lear' with an Asian touch

'King Lear' with an Asian touchBy Oei Eng Goan JAKARTA (JP): William Shakespeare displays human nature in all its astonishing variety in his 37 tragedies and comedies. The accessibility of his stories and their universally relevant moral values has lead to his works being performed in various...

Thailand withdraws from world rubber group INRO

Thailand withdraws from world rubber group INRO BANGKOK (Reuters): Thailand, the world's largest natural rubber producer and exporter, decided on Tuesday to withdraw from the global price pact, the International Natural Rubber Organization (INRO).

Death toll in Maluku riots rises to 105

Death toll in Maluku riots rises to 105 JAKARTA (JP): Police announced the death toll in recent communal clashes in Ambon and other areas in Maluku province has risen to 105, Antara reported late Monday.The news agency quoted Maluku Police spokesman Maj. Jekriel P.H.

Anyone for village chief?

Anyone for village chief? YOGYAKARTA: Posts of village head in Bantul regency here are up for grabs after many recent resignations. They came in the wake of hundreds of residents demanding their village chiefs step down because of various charges of wrongdoing.

Another taxi thief beaten to death by mob

Another taxi thief beaten to death by mob JAKARTA (JP): Angry Kembangan residents in West Jakarta savagely attacked two youths caught red-handed attempting to steal a taxi late Monday.One of them, identified as Nanang Amanda, 20, died on the way to the hospital with severe head wounds inflicted by...

280 missing in boat accident

280 missing in boat accident PONTIANAK, West Kalimantan: Two hundred eighty of 300 passengers and crew are listed as missing after a boat sank on Sunday in waters off Sambas regency.Antara reported on Tuesday the KM Hanaka sank about 90 kilometers off Pengikih island.

Witnesses failed to appear at Jakarta Military Tribunal

Witnesses failed to appear at Jakarta Military Tribunal JAKARTA (JP): Witnesses failed to appear on Tuesday in the court-martial of 11 Army Special Forces (Kopassus) soldiers charged with kidnapping political activists in the last months of Soeharto's rule.

Crisis fails to snuff out smoking in Indonesia

Crisis fails to snuff out smoking in Indonesia JAKARTA (JP): The country's worst economic crisis of the last 30 years is not impacting on high local demand for cigarettes, with many smokers opting to switch to cheaper brands, a cigarette company executive said on Tuesday.

Supreme Court's ruling on Dharmala upsets experts

Supreme Court's ruling on Dharmala upsets experts JAKARTA (JP): An insolvency expert and financial analysts deplored on Tuesday the Indonesian Supreme Court's latest verdict which rejected a bankruptcy appeal by the International Finance Corporation and other creditors against PT Dharmala Agrifood.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 9, 1999: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 350 0 0 AHAP Insurance 400 0 0 Alter Abadi 275 0 0 Alumindo Light Metal 300 75 1,125,000 Alumindo Perkasa...

RI economic program 'gains foreign support'

RI economic program 'gains foreign support' JAKARTA (JP): Minister of Cooperatives and Small Enterprises Adi Sasono said on Tuesday that his widely criticized people's economy program had gained backing from Indonesia's foreign donors.

PAN regrets govt inconsistency

PAN regrets govt inconsistency President Habibie's statement that a referendum in East Timor is not necessary is to be regretted and shows the arrogance of the government of Indonesia and is inconsistent with the spirit of reform.

Bomb threats rattle two foreign offices

Bomb threats rattle two foreign offices JAKARTA (JP): The Canadian embassy and the office of Singapore Airlines received phoned-in bomb threats in the space of two hours on Tuesday afternoon.Although the threats turned out to be hoaxes, they were the first to target foreign offices in the wave of...

Indosat takes a beating in Alphanet fiasco

Indosat takes a beating in Alphanet fiasco JAKARTA (JP): Indonesia's state-owned international telecommunications firm PT Indosat is likely to lose much of its C$50.75 million (US$40 million) investment in Canada's Alphanet Telecommunication Inc following the later's bankruptcy announcement on...

Students back on streets, march to House halted

Students back on streets, march to House halted JAKARTA (JP): Fifty-five students were arrested on Tuesday while marching toward the House of Representatives in Central Jakarta in a demonstration against the government.

Government vows fair play in coming elections

Government vows fair play in coming elections JAKARTA (JP): The government has pledged to be fair and refrain from dominating the upcoming elections although its five members on the National Election Committee will have equal voting rights compared to at least dozens of party representatives.

Plot against Anwar 'irrelevant': Court

Plot against Anwar 'irrelevant': Court KUALA LUMPUR (Agencies): Malaysia's High Court ruled on Tuesday that any evidence of a political conspiracy against ousted deputy premier Anwar Ibrahim was "irrelevant" to his corruption trial.

Unocal steps up exploration

Unocal steps up exploration EL SEGUNDO, California (Dow Jones): Unocal Corp replaced 101 percent of its crude oil and natural gas production in 1998 with new proved reserves.In a press release Monday, the company said it replaced the production through exploration in the Gulf of Mexico and...

Former hospital morgue manager gets two years for Rp 815m scam

Former hospital morgue manager gets two years for Rp 815m scam JAKARTA (JP): Central Jakarta District Court sentenced on Tuesday a former manager of Husada Hospital's morgue to two years in jail for swindling Rp 815 million (US$90,555) in donations.

Piles of garbage raise flood fears

Piles of garbage raise flood fears JAKARTA (JP): Huge piles of garbage dumped in the city's rivers are raising fears of increased flooding during the current rainy season.Soeharto, head of the city's public works agency, urged residents to stop disposing of their waste in the rivers.

Veterans urge caution on shoot-on-sight order

Veterans urge caution on shoot-on-sight order JAKARTA (JP): Retired officers on Tuesday urged caution in the carrying out of orders to shoot rioters on sight to prevent unnecessary killing of suspects and innocent people.

Thai gets $600m from ADB

Thai gets $600m from ADB BANGKOK (AP): Thailand has signed an initial agreement with the Asian Development Bank for a US$600 million loan to help the country's ailing agricultural sector, an ADB senior official said Tuesday.

High school student busted in toll road robbery

High school student busted in toll road robbery TANGERANG (JP): Motorists can no longer consider anywhere safe these days.Robbers have devised a wide range of techniques to run their business almost free of fear on the roads, from the city's crowded intersections at peak hour to toll roads during...

Soeharto's wealth abroad not found yet

Soeharto's wealth abroad not found yet JAKARTA (JP): Attorney General Lt. Gen. A.M. Ghalib announced on Tuesday that his office, in cooperation with the Ministry of Foreign Affairs, has yet to find any wealth belonging to former president Soeharto overseas.

Man shot dead for killing 'ojek' driver

Man shot dead for killing 'ojek' driver JAKARTA (JP): Central Jakarta Police have shot dead a man and arrested two of his accomplices for their alleged involvement in the murder of an ojek (motorcycle taxi) driver in the Menteng area, an official said on Monday.Central Jakarta Police Chief Lt. Col.

Indonesian trade liberalized: Rahardi

Indonesian trade liberalized: Rahardi WASHINGTON (AP): Indonesia is earning increasing confidence from international financial circles and deserves more confidence from private investors, its trade minister insisted.

Golkar may support Habibie for 1999-2004 presidency

Golkar may support Habibie for 1999-2004 presidency JAKARTA (JP): Golkar chairman Akbar Tandjung said on Tuesday his party may nominate B.J. Habibie as its presidential candidate because it was giving priority to politicians who were current or former Cabinet members.

WB approves the release of US$400m loan to Indonesia

WB approves the release of US$400m loan to Indonesia JAKARTA (JP): The World Bank approved the release of a US$400 million loan to Indonesia on Tuesday, completing the disbursement of the $1 billion loan package signed in July last year.

Rio Tinto, Unmul cooperate

Rio Tinto, Unmul cooperate JAKARTA (JP): Anglo-Australian mining company Rio Tinto's foundation signed on Monday a memorandum of understanding (MOU) with East Kalimantan's Mulawarman University (Unmul) to cooperate in a community development program in East Kalimantan.

Mahathir points to RI disparity

Mahathir points to RI disparity SINGAPORE (Reuters): Malaysian Prime Minister Mahathir Mohamad said there was no comparison between the economic situation in Indonesia and his country.Mahathir said Malaysia did not have the same scale of overseas debts as Indonesia and his country had ensured that...

Neglect faulted in Philippine floods

Neglect faulted in Philippine floods BUTUAN, Philippines (Reuters): Philippines officials on Tuesday blamed years of environmental neglect for floods that killed 23 people and left a trail of devastation on southern Mindanao island.

Vietnam allocates $20m on Y2K bug

Vietnam allocates $20m on Y2K bug HANOI (AFP): Vietnam expects to spend between US$10 and 20 million to forestall the "Y2K bug", an official from the Ministry of Science, Technology and Environment said on Tuesday.

Plugging budget hole

Plugging budget hole Securing the state budget is becoming more difficult at a time when public spending has become the only locomotive expected to fuel economic activities and offset the brunt of last year's 14 percent contraction in the economy.

Armed Forces must go back to basics

Armed Forces must go back to basics Too many tragic incidents have occurred in Indonesia during the past few years. These have taken place in Tanjung Priok, Lampung, Dili, Irian Jaya and Medan. In 1996 there was the July 27 incident.

Economists urge Indonesia to try currency board again

Economists urge Indonesia to try currency board again TOKYO (AFP): Renowned economists are calling on Indonesia to try a currency board again to rebuild the devastated economy, and they are counting on support from opposition leader Amien Rais.

Carrascalao at IABC luncheon

Carrascalao at IABC luncheon JAKARTA (JP): Former East Timor governor Mario Viegas Carrascalao will be guest speaker at the Indonesia-Australia Business Council (IABC) luncheon here on Friday.IABC board said Carrascalao, who served as Indonesian ambassador to Rumania, will address the topic of "The...

Indo-U.S. relations

Indo-U.S. relations There can be no meaningful improvement in Indo-U.S. relations without the U.S. accepting India as an equal and a country free to develop its nuclear arsenal and an effective global delivery system in keeping with its threat perceptions. It is not enough to claim that the U.S.

Four die of malnutrition

Four die of malnutrition SURABAYA: Four elderly villagers of Ponorogo regency have died of malnutrition, the East Java governor announced on Tuesday.Imam Utomo was referring to residents of Tricing Desa Dayakan hamlet in Badengan district.

Asiad veterans must qualify for SEAG

Asiad veterans must qualify for SEAG JAKARTA (JP): Asian Games veterans must win at the Golden Gloves national boxing championships at the end of March to qualify for the training program for the 20th Southeast Asian Games, a coach said on Tuesday.

Island readied for Timor refugees

Island readied for Timor refugees JAKARTA: Wetar, an island several kilometers north of East Timor, is being prepared as a transmigration site in anticipation of an exodus from the troubled province, transmigration minister AM Hendropriyono said here on Tuesday.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Feb. 9, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,850.00 8,950.00 8,850.00 9,000.00Australian dollar 1 5,702.50 5,842.50 5,605.00 5,905.00Austrian schilling 1 724.57 739.72 - -Belgian franc 1 247.16 252.

Flood evacuees seek medical help

Flood evacuees seek medical help UJUNGPANDANG, South Sulawesi: Some of the several thousand evacuees taking shelter following a storm here have started to seek medical help at local hospitals, complaining of respiratory difficulties and diarrhea.

Freedom for E. Timor: Wrong offer at wrong time

Freedom for E. Timor: Wrong offer at wrong time Indonesia's sudden shift of stance on East Timor has created a political earthquake. Political analyst J. Soedjati Djiwandono fears that it is an attempt to divert the people's attention from the government's failure to address the current crisis.

RI clarifies stance on East Timor

RI clarifies stance on East TimorBy Razak Imanuddin NEW YORK (JP): Minister of Foreign Affairs Ali Alatas said on Monday Indonesia wanted a method other than a popular vote to gauge the opinion of East Timorese on the offer of wide-ranging autonomy as the final solution to the disputed territory.

KONI disburses IOC scholarships

KONI disburses IOC scholarships JAKARTA (JP): The National Sports Council (KONI) presented on Tuesday International Olympic Committee (IOC)-sponsored scholarships to three badminton players.Men's doubles specialist Candra Wijaya, his female counterpart Deyana Lomban and rising men's singles star...

Sizzler... oh Sizzler...

Sizzler... oh Sizzler... On Jan. 27, we went to the Sizzler restaurant on Jl. Thamrin, which was our favorite place to dine in the city. It looked like we were the first guests. When I walked towards the salad bar, I noticed that most of the food displayed that day was not fresh, and obviously was...