Indonesian Political, Business & Finance News

Archive: 13 February 1999

53 articles found

Heinz ties up with ABC in joint venture

Heinz ties up with ABC in joint venture JAKARTA (JP): U.S. food giant H.J. Heinz Company announced on Friday the formation of a joint venture with PT ABC Central Food Industry, Indonesia's biggest producer of food sauce and drink concentrate.

Charity film for Kupang

Charity film for Kupang JAKARTA (JP): A newly-founded network of groups of concerned professionals called Kotak (Box) is to hold a charity showing of a Hollywood film on Sunday morning to help victims of the recent clashes in the East Nusa Tenggara capital of Kupang.

'We'll learn to swim', asserts Carrascalao

'We'll learn to swim', asserts Carrascalao JAKARTA (JP): East Timor will have to prove it can survive on its own if the government decides to grant the province independence, according to Mario Viegas Carrascalao.The former governor of East Timor was responding on Friday to President B.J.

Astra International to repurchase its debt

Astra International to repurchase its debt JAKARTA (JP): The country's largest automaker PT Astra International announced on Friday that it would buy back US$1.17 billion in unsecured debt to its foreign creditors at 30 percent of the face value.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Feb. 12, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,625.00 8,725.00 8,625.00 8,775.00Australian dollar 1 5,539.00 5,678.80 5,445.00 5,745.00Austrian schilling 1 700.82 715.91 - -Belgian franc 1 239.

A third option for East Timor

A third option for East TimorBy Widjoseno Sastroamidjojo JAKARTA (JP): The announcement made earlier by Indonesian Foreign Minister Ali Alatas, particularly concerning the possibility of releasing East Timor from Indonesia as a second option should the offer of greater autonomy be rejected has...

PT Freeport agrees to raise royalties

PT Freeport agrees to raise royalties JAKARTA (JP): Mining company PT Freeport Indonesia agreed to pay more royalties to the government in return for a license to increase ore output at its copper and gold mine in Irian Jaya to 300,000 metric tons per day (tpd).

Door closed on mergers to assist ailing banks

Door closed on mergers to assist ailing banks JAKARTA (JP): The country's banking authorities will no longer consider merging bad banks with healthier banks as an alternative to bank liquidation, Bank Indonesia Governor Sjahril Sabirin said on Friday.

Arms seized in S. Sulawesi raid

Arms seized in S. Sulawesi raid SABBANG, South Sulawesi (JP): Hundreds of Molotov cocktails, 29 makeshift cannons and ammunition were among weapons seized in a police raid on arms here.Police said they had also seized 1,448 home-made guns from villagers involved in communal clashes in Sabbang...

Many city buildings do not have permits

Many city buildings do not have permits JAKARTA (JP): A city councilor has criticized the city administration for its failure to set an example to the public by abiding by existing laws to issue permits for city-owned building.

'Ojek' robber fatally mobbed

'Ojek' robber fatally mobbed TANGERANG (JP): An ojek (motorcycle taxi) robber was mobbed to death by residents of Cempaka village of Cisoka district in Tangerang after he allegedly wounded the vehicle's owner and tried to flee with the bike late Thursday.Chief of Cisoka police subprecinct First Lt.

Golkar...why not just dissolve!

Golkar...why not just dissolve!From D&REarly this year the General Chairman of the Functional Group (Golkar), Akbar Tandjung, finally apologized to the community for all Golkar's past mistakes. I hoped this sincere apology would regain public sympathy for Golkar.

Irianese demand national dialog with Habibie

Irianese demand national dialog with Habibie JAYAPURA, Irian Jaya (JP): The Irianese have demanded that President B.J. Habibie keep his promise to hold a "national dialog" with them. Failure to do so would be an insult to the people of the province and might drive them to take "arbitrary actions",...

Police shoot dead two more alleged street robbers

Police shoot dead two more alleged street robbers JAKARTA (JP): Two more alleged street criminals were shot dead by police on Thursday, increasing the tally of those killed by law enforcers to five in just four days.

Fischer to visit Indonesia

Fischer to visit Indonesia CANBERRA (Dow Jones): Trade Minister Tim Fischer on Friday announced he will visit some of Australia's major trading partners in South Asia and the Middle East in coming weeks.The swing begins in Singapore with ministerial meetings Feb.

Feisal denies reports on govt's men for KPU

Feisal denies reports on govt's men for KPU JAKARTA (JP): The home affairs ministry's secretary-general Feisal Tamin denied on Friday having been appointed as one of the five government representatives on the yet-to-be-established National Elections Committee (KPU).

Tabloid, ex-minister involved in war of words

Tabloid, ex-minister involved in war of words JAKARTA (JP): Penta weekly tabloid has struck back at former minister of mines and energy I.B. Sudjana by lodging a complaint with the Jakarta Police on Thursday over Sudjana's allegedly false accusations against the publication, an executive said.

Press urged to set up rules for campaigns coverage

Press urged to set up rules for campaigns coverage JAKARTA (JP): Experts agreed on Friday that the press must set up its own rules to ensure fair coverage of the multi-party elections on June 7.Communications expert Ade Armando of the University of Indonesia said it would not be possible to expect...

Manulife expects 40% rise in premium income

Manulife expects 40% rise in premium income JAKARTA (JP): Life insurance company PT Dharmala Manulife said here on Friday it expected this year to boost its premium income by 40 percent from Rp 328 billion in 1998.

PT Inco's net profit plummets 74.5 percent

PT Inco's net profit plummets 74.5 percent JAKARTA (JP): Publicly listed nickel producer PT International Nickel Indonesia (Inco) said on Friday its net profit had dropped by 74.5 percent to US$6.2 million in 1998 from $24.3 million in 1997.

Gathering of prayers with Soeharto canceled

Gathering of prayers with Soeharto canceled JAKARTA (JP): A gathering to hold joint prayers with former president Soeharto, planned for Sunday, has been called off by organizer Emha Ainun Nadjib.Emha, known as a newspaper columnist, Muslim preacher and music composer cited two reasons for the...

Shoddy apartment infuriates governor

Shoddy apartment infuriates governor SURABAYA: East Java Governor Imam Utomo could not hide his outrage on Friday after inspecting collapsed roofs of several low-cost apartments in Sombo, Surabaya."The roof construction was poor because they only used cement bricks.

Police foil drug smuggling attempt

Police foil drug smuggling attempt TANGERANG (JP): Tangerang Police foiled on Thursday night a drug smuggling attempt by a suspected member of an international drug trafficking syndicate, an official said on Friday.Tangerang Police chief Lt. Col.

Drivers' strike strands thousands

Drivers' strike strands thousands PALANGKA RAYA, Central Kalimantan: About 200 minivan drivers went on strike on Friday to protest the local authorities' plan to increase the number of public transportation vehicles and add new routes.

Indonesia banks on extra $1b from IMF

Indonesia banks on extra $1b from IMF MONTEGO BAY (Reuters): Indonesia is on the road to recovery from its deep financial crisis and is seeking an extra US$1 billion from the International Monetary Fund, chief economic minister Ginandjar Kartasasmita said on Thursday.

Australia concerned by East Timor moves

Australia concerned by East Timor moves JAKARTA (JP): Australian Prime Minister John Howard said on Friday an independent East Timor could be a financial burden to Australia and reiterated his view that autonomy within Indonesia was a better option.

INRO declared 'technically dead'

INRO declared 'technically dead' JAKARTA (JP): The International Natural Rubber Organization (INRO) has in effect been killed by the recent withdrawal of Malaysia and Thailand from its membership, according to the Indonesian Rubber Association (Gapkindo).Gapkindo's executive director, A.F.

World noodle producers agree to 'halal' status

World noodle producers agree to 'halal' statusBy Riyadi NUSA DUA, Bali (JP): The world's major noodle producers ended their two-day summit here on Friday, endorsing PT Indofood Sukses Makmur's proposal to include Islamic halal dietary laws in the new international standards for noodles.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 12, 1999: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 350 0 0 AHAP Insurance 400 0 0 Alter Abadi 275 0 330,000 Alumindo Light Metal 325 -25 346,500...

More bodies found in search for drowned ferry victims

More bodies found in search for drowned ferry victims JAKARTA (JP): Rescue workers found more bodies on Friday in their search for victims from the KLM Arta Rimba which sank with 325 people on board last Sunday near the West Kalimantan coast.

Is RI set to become a 'junk nation'?

Is RI set to become a 'junk nation'?By Mochtar Buchori VANCOUVER (JP): "Junk nations," according to Christopher Dickey (Newsweek Nov. 27, 1995), are "bits and pieces (which) are falling away from old states without quite managing to form new ones.

Garuda's haj armada shrinks to six planes

Garuda's haj armada shrinks to six planes JAKARTA (JP): National flag carrier Garuda Indonesia has said it will deploy a fleet of only six planes to transport 42,500 Indonesian haj pilgrims to Saudi Arabia starting Feb. 24, down from the 26 aircraft operated for last year's haj season.

Living in fear

Living in fear On Tuesday Jakarta was rocked by no less than six bomb threats, the largest number on a single day to hit the capital. All but one turned out to be a hoax. The sole explosion -- at a shopping mall in the eastern residential district of Kelapa Gading -- was caused by firecrackers.

Cooperatives land loans for rice buys

Cooperatives land loans for rice buys JAKARTA (JP): The government is to disburse Rp 778 billion (about US$91 million) in cheap loans to village cooperatives and non-governmental organizations for use in procuring rice from local farmers, Agriculture Minister Soleh Solahuddin said on Friday.

'RCTI' plans to lay off employees

'RCTI' plans to lay off employees JAKARTA (JP): In a bid to continue operations, the privately owned RCTI television station will lay off 20 to 30 percent of its 620 regular employees, Eduard Depari, public relations manager at the station, said on Friday.

City taking its time on regaining ex-officials' cars

City taking its time on regaining ex-officials' cars JAKARTA (JP): The city administration is playing its cards close to its chest on its plan of action to reclaim dozens of official cars kept illegally by retired officials.

Selection of national badminton team starts

Selection of national badminton team starts JAKARTA (JP): Jakarta's junior badminton players dominated the selection tournament for the national team, but will have to wait and see if the Badminton Association of Indonesia (PBSI) approves their promotions.

Malay party demands end to racism in Singapore

Malay party demands end to racism in Singapore SINGAPORE (Agencies): A Malay party demanded an end to racial discrimination in Singapore's armed forces and work places on Friday, as the largest newspaper criticized Indonesian President B.J. Habibie for accusing the city-state of racism.

Neutrality of civil servants

Neutrality of civil servantsFrom RepublikaThis letter was inspired by the title of an article in one of Jakarta's dailies on Nov. 21, 1991, about six months before the 1992 general election, reading: Civil servants: Involvement in political parties.

One dies in heavy storms

One dies in heavy storms PURBALINGGA, Central Java: Storms on Thursday claimed one victim and destroyed hundreds of houses in Purwonegoro district.Six fishermen were missing after a typhoon caused their fishing boat to capsize in the Java Sea.

Govt seeks House nod to monitor capital inflow

Govt seeks House nod to monitor capital inflow JAKARTA (JP): The government is seeking legislative approval to enhance its monitoring of capital flow into and out of the country, but states it is not backing away from its open capital account regime.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Photo Exhibition: Pesona Nusantara, at Galeri Foto Cahya, Plaza Menteng, 2nd floor, C7-8, Jl. H.O.S. Cokroaminoto 79, Menteng (Phone: 3907623), Central Jakarta, 10 a.m. to 8 p.m., until Feb. 25.

Live TV shows

Live TV shows JAKARTA (JP): Sports competitions to be broadcast live on local TVs (all times in West Indonesia Time):Saturday English soccer league: Charlton Athletic v Liverpool, SCTV at 10 p.m.Sunday Italian soccer league: Cagliari v Lazio, RCTI at 8:30 p.m.

A tower of warm humanist fire

A tower of warm humanist fire In this world of narrow and selfish interest, Romo Mangun was a tower of warm humanist fire. His loss to the world and to Indonesia is the loss of an valuable gem that no economist could enumerate.

Protest over misuse of emergency funds goes on

Protest over misuse of emergency funds goes on JAKARTA (JP): An executive from the United Development Party (PPP) complained on Friday that unless a person was directly linked to the ruling Golkar or close to the city administration, they would likely be excluded from the disbursement of an...

Give E. Timor dignity it deserves

Give E. Timor dignity it deserves Y.B. Mangunwijaya was one of Indonesia's most respected humanists and intellectuals, a Catholic priest whose multitude of talents included novelist, architect and social worker. Better known as Romo Mangun, he died of a heart attack in Jakarta on Wednesday.

AFC maintains life ban for Indonesia's Mursyid

AFC maintains life ban for Indonesia's Mursyid KUALA LUMPUR (Agencies): The Asian Football Confederation (AFC) on Friday maintained a life ban on Indonesian player Mursyid Effendi for international matches for deliberately scoring an own goal in the Tiger Cup in Vietnam last September.

'United we fall apart, dispersed we are strong'

'United we fall apart, dispersed we are strong'By Marianus Kleden KUPANG, East Nusa Tenggara (JP): After Kupang and Ambon were ransacked, the Indonesian government made a statement concerning the possibility of the release of East Timor from the national polity if the coming proposed enlarged...

Rupiah unchanged, share prices lose ground

Rupiah unchanged, share prices lose ground JAKARTA (JP): The rupiah remained bearish on Friday to end the week almost unchanged at 8,700 against the U.S. dollar as stock prices fell 0.5 percent.Currency dealers said that the rupiah, which opened at 8,700, was barely moved as most offshore...

Thousands jam funeral of YB Mangunwijaya

Thousands jam funeral of YB Mangunwijaya YOGYAKARTA (JP): The city of Yogyakarta seemed to come to a halt on Friday as crowds lined the roads passed by the funeral procession of priest Y.B. Mangunwijaya.The Catholic priest, better known as Romo Mangun, was well known as a social worker and a writer.

Briton deported for visa infraction

Briton deported for visa infraction MEDAN: The North Sumatra immigration office on Wednesday deported Briton Robert Herbert Clek, 40, putting him on a Malaysia-bound ferry from Belawan port.According to an immigration officer, the Briton was found to have overstayed his visa and his passport...

ABRI to submit revised bill on national safety to House

ABRI to submit revised bill on national safety to House JAKARTA (JP): Minister of Defense and Security/Armed Forces (ABRI) Commander Gen. Wiranto said on Friday the military would soon submit the revised bill on national safety and security to the House of Representatives.

People's economy

People's economy One of the main problems faced by small enterprises and cooperatives is funding. The government has earmarked Rp 10.8 trillion for the funding of such businesses but so far only about Rp 3 trillion has been channeled.The funding source is the central bank, Bank Indonesia.