Indonesian Political, Business & Finance News

Archive: 25 February 1999

62 articles found

Old player in a new game

Old player in a new game Amid the current clamor for change, our political parties -- Golkar in particular -- continue to follow their old political cultural habits. Thus, nominations of presidential candidates are supported by people at the top (of the party hierarchy).

Australia to reopen consulate in East Timor

Australia to reopen consulate in East TimorBy Riyadi NUSA DUA, Bali (JP): Australia is planning to open a consulate in Dili, East Timor, and form a contact group of countries interested in the troubled territory to help create a peaceful transition to independence or broad autonomy under Indonesian...

Principal Indonesia seeks local partners

Principal Indonesia seeks local partners JAKARTA (JP): PT Asuransi Jiwa Principal Indonesia plans to ally with or acquire several local insurance and finance companies in a bid to expand its business in Indonesia, the company's vice president Iskandar Sutadisastra said on Wednesday.

More bombs to be dropped?

More bombs to be dropped? I agree with Pak Soegih Arto's view on our country's pilot in command in the Feb. 23 The Jakarta Post.Another bomb dropped recently, although not directly by the pilot, was the purported tapping of his telephone conversation with the attorney general, which has shaken the...

Recapitalization not enough to cure economy

Recapitalization not enough to cure economy JAKARTA (JP): The government's bank recapitalization program is not sufficient to revitalize the country's crippled banking system and depressed economy, analysts have said.

Pertamina eyes stake in Tugu Pratama

Pertamina eyes stake in Tugu Pratama JAKARTA (JP): State oil and gas company Pertamina is set to buy out PT Nusantara Ampera Bhakti's (Nusamba) stake in insurance company PT Tugu Pratama Indonesia as part of the efforts to eliminate traces of collusion, corruption and nepotism in the company.

Sutiyoso names Fauzie Yasin as deputy governor

Sutiyoso names Fauzie Yasin as deputy governor JAKARTA (JP): Governor Sutiyoso announced on Wednesday that he will nominate the assistant to the city secretary in charge of administrative affairs, Fauzie Alvi Yasin, as a candidate for the deputy governor for economic and financial affairs post,...

Leaders to join APEC meeting

Leaders to join APEC meeting BANGKOK (DPA): Leaders from the U.S., China and South Korea have agreed to state visits to New Zealand next September when Auckland hosts the annual Asia Pacific Economic Cooperation (APEC) meeting, New Zealand Trade Minister Lockwood Smith said Wednesday."U.S.

Tourist arrivals rise 10.9%

Tourist arrivals rise 10.9% HONG KONG (DPA): Tourists arrivals to Hong Kong rose by 10.9 percent in January over the same month last year, with the total reaching 826,770, the Hong Kong Tourist Association (HKTA) announced on Wednesday.Arrivals from Indonesia recorded the highest growth of 115.

Two-day conference calls for decentralization of education

Two-day conference calls for decentralization of education JAKARTA (JP): A two-day conference on education has issued a series of recommendations to help the sector recover from the crisis, including a form of decentralization that would improve management.

House tells govt to improve budget monitoring system

House tells govt to improve budget monitoring system JAKARTA (JP): The House of Representatives urged the government on Wednesday to ensure transparency and tight monitoring of budget spending in the 1999/2000 fiscal year in order to prevent leakage of public funds.

Armed suspect drug dealer arrested

Armed suspect drug dealer arrested JAKARTA (JP): Acting on a tip-off, police arrested a 38-year- old man on Tuesday for possession of a Colt handgun and a FN Commander 32 handgun.The police arrested the suspect, Erikson Tobing, alias Kapten, at a gas station in Cempaka Putih, Central Jakarta.

Telkom reports slight increase in net profit

Telkom reports slight increase in net profit JAKARTA (JP): State-owned telecommunications provider PT Telkom, reported on Wednesday a 1.4 percent increase in net profit in 1998 to Rp 1.16 trillion (about US$137.5 million) from Rp 1.15 trillion in 1997.

Asian monies soften, U.S. dollar shines

Asian monies soften, U.S. dollar shines SINGAPORE (Dow Jones): Southeast Asian currencies ended Asian trading hours on Wednesday a touch softer against the U.S. dollar, as the market returned to bidding up the U.S. currency against Asia as a whole.With the U.S.

Indonesia beats Thais in Fed Cup

Indonesia beats Thais in Fed Cup BANGKOK (Agencies): Indonesia returned to its winning form at the Fed Cup Asia/Oceania qualifying round tennis tournament with a 2-1 defeat of host Thailand in their group A match on Wednesday.

Where to go in Surabaya:

Where to go in Surabaya:Exhibitions * Video Installation Exhibition: Senjang by Teguh Ostenrik and students of Trisakti University, at CCCL - French Cultural Center, Jl. Darmokali 10 (Phone: 031 5678639), 9 a.m. to 8 p.m., until March 1. Discussion at 7 p.m., March 1.

C. Java sent 1,500 workers abroad

C. Java sent 1,500 workers abroad SEMARANG: The Central Java office of the Ministry of Manpower announced here Wednesday that it sent a total of 1,556 workers to seven countries last January."The seven countries were Saudi Arabia, Singapore, Malaysia, Brunei Darussalam, Taiwan, Hong Kong and Abu...

Cancel telephone rate hikes!

Cancel telephone rate hikes!From MerdekaWe are community members of Depok Perumnas housing complex and its surrounding areas, mostly civil servants and earners of modest incomes at private companies. We herewith call on the House of Representatives/People's Consultative Assembly, which "voice the...

IMF gave wrong remedy for RI

IMF gave wrong remedy for RIBy Patrick Schwarz SEMARANG (JP): News about high finance normally goes unnoticed by ordinary citizens, as it is, at best, negligible information concerning a privileged elite from the greedy world of capitalism.

Armed robbery spree hits capital

Armed robbery spree hits capital JAKARTA (JP): Jakarta Police recorded three separate armed robberies within the last two days, spokesman Lt. Col. Zainuri Lubis said on Wednesday.The suspects were not apprehended at the scenes and remain at large.

Where to go in Bali:

Where to go in Bali:Exhibitions * Photo Exhibition: Lumiere, Amour, Creation, by Jacques Francois Xavier Guyot, at Ganesha Gallery, Four Seasons Resort, Jimbaran (Phone: 0361 701010), 12 p.m. to 8 p.m., until March 22.

U.S. satellite deal a blow to China amid pressure

U.S. satellite deal a blow to China amid pressure BEIJING (Agencies): Washington's decision to ban the sale of a high-tech satellite to a company with Chinese links is a blow to China amid growing pressure on its relations with the United States, analysts said on Wednesday.The U.S.

Three children die in floods

Three children die in floods SEMARANG: Heavy rains over Central Java all through Tuesday have caused flooding in Surakarta and Kudus, where three children were drowned.Thousands of residents had to flee to higher ground while schools and shops were closed on Wednesday.

China fights corruption

China fights corruption BEIJING (AFP): China is stepping up a major drive against corruption in the police and the judicial department, sources said on Wednesday.A Hong Kong newspaper reported on Wednesday that the police chief of the southern city of Guangzhou had been forcibly escorted to Beijing...

False information leads to arrest

False information leads to arrest JAKARTA (JP): South Jakarta immigration officers have arrested a Chinese citizen for applying for an Indonesian passport using fake documents, an official said on Wednesday.Hamsuk S.

Govt vows to wipe out pirated VCD industry

Govt vows to wipe out pirated VCD industry JAKARTA (JP): The Indonesian government has vowed, starting Friday, to clean up the multi-billion dollar pirated CD trade here."The deadline of Feb. 25 to produce, distribute and sell pirated VCDs is already final.

Ghalib did not lie about phone tapping: Baramuli

Ghalib did not lie about phone tapping: Baramuli JAKARTA (JP): Presidential advisor A.A. Baramuli testified on Wednesday that Attorney General A.M. Ghalib never denied that the tapped conversation he had with President B.J. Habibie ever took place.

Ship crews suffer in Asian crisis

Ship crews suffer in Asian crisis SINGAPORE (AP): Asia's economic crisis has left a growing number of ships' crews stranded in ports without food or other essential supplies, forcing some sailors to sell ship parts for scrap in order to survive, a news report in Singapore said on Wednesday.

Press stresses need for media watch institutes

Press stresses need for media watch institutes JAKARTA (JP): Conceding that they could not go it alone with their new-found freedom, senior press editors and media group owners on Wednesday called for the establishment of media watch institutes.

Australia gives A$10m aid to RI for poll

Australia gives A$10m aid to RI for pollBy Riyadi NUSA DUA, Bali (JP): Australian Foreign Minister Alexander Downer announced here on Wednesday that his government would provide an initial sum of A$10 million to help Indonesia prepare for and conduct the general election.

International supervision of financial markets sought

International supervision of financial markets soughtBy Riyadi NUSA DUA, Bali (JP): Indonesia and Australia called on the international community on Wednesday to establish an effective global mechanism to supervise and regulate international financial markets to guard against another devastating...

Traders urge market management change

Traders urge market management change JAKARTA (JP): At least 400 traders of Kenari electronics market in Central Jakarta urged the government on Wednesday to allow them to control the market's management for the sake of efficiency.

Cheetam to produce refined salt in RI

Cheetam to produce refined salt in RI NUSA DUA, Bali (JP): Cheetam Salt Ltd. of Australia will form a joint venture with state-owned PT Garam to produce refined salt for human consumption and industrial use in Indonesia.Cheetam director W.J.

Indonesian pepper exports up 25 percent

Indonesian pepper exports up 25 percent JAKARTA (JP): Pepper exports rose by 25.3 percent to 40,749 metric tons in 1998 from 32,510 metric tons in 1997, the International Pepper Community (IPC) said on Wednesday.

Political parties race against time for elections

Political parties race against time for elections JAKARTA (JP): Political parties are racing to establish chapters and branches in order to qualify to contest the June 7 general election.The Team of Eleven -- in charge of examining and selecting poll contestants -- continued on Wednesday its visits...

Two reported dead, 12 injured in fresh East Timor clash

Two reported dead, 12 injured in fresh East Timor clash DILI, East Timor (JP): Two proindependence activists were shot dead and at least 12 others were injured in a clash which erupted during a traditional mourning service on Wednesday in Becora, Dili.

The spin on Pelabuhan Ratu

The spin on Pelabuhan Ratu As a frequent visitor to one of Indonesia's -- and perhaps one of the world's most beautiful areas -- I would like to appeal to the Indonesian Tourist Board to let me assist them in properly promoting Pelabuhan Ratu.

Explanation of phone tariff hike sought

Explanation of phone tariff hike sought JAKARTA (JP): City Council will invite executives of the state-owned telecommunications operator PT Telkom to explain their decision to hike tariffs for local long-distance calls 21 fold.

Molotov cocktail explodes on house

Molotov cocktail explodes on house JAKARTA (JP): A Molotov cocktail exploded on the roof of a house of a junior high school teacher in Sungai Bambu, North Jakarta, stunning the family and their neighbors on Tuesday evening.

RI banks' ratings lowered

RI banks' ratings lowered HONG KONG (Dow Jones): Thomson BankWatch said Wednesday it has downgraded the local currency debt ratings of Indonesia's Bank Duta and Bank Rama to LC-4 from LC-3 amid concerns about the deteriorating operating environment for Indonesian banks.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Feb. 24, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,800.00 8,850.00 8,800.00 8,900.00Australian dollar 1 5,591.70 5,698.75 5,465.00 5,715.00Austrian schilling 1 699.66 710.57 - -Belgian franc 1 238.

Heri Dono shows modern monsters

Heri Dono shows modern monsters JAKARTA (JP): Works of Heri Dono, one of the country's most famous avant garde painters and installation and performance artists, are on display in Singapore.Mythical Monsters in Contemporary Society, Heri's first exhibition in the country, showcases 15 of his most...

Thanks to Nokia

Thanks to Nokia I refer to my letter, titled "A call for help" in the Feb. 17 The Jakarta Post, in which I complained about Nokia's battery, Immediately after the letter appeared in the Post, the general manager of Nokia Jakarta, Mr. Alexander L., called me to inquire about the problem.

Bandung artist ropes in hedonism

Bandung artist ropes in hedonismBy Pavan Kapoor JAKARTA (JP): As humankind prepares for a new millennium, the breakneck pace of civilization urges societies to pursue relentlessly a vast range of global pleasures.

Habibie, Wiranto objects of public discontent

Habibie, Wiranto objects of public discontentBy Tjipta Lesmana JAKARTA (JP): Public opinion is regarded as a force that should not be underestimated by any player in the political arena of every democratic or quasi-democratic state.Public opinion, in a sense, is the people's voice.

More incentives needed for Timor Gap projects

More incentives needed for Timor Gap projectsBy Riyadi NUSA DUA, Bali (JP): Indonesia will propose additional incentives at the meeting of the Ministerial Council on the Timor Gap for oil and gas exploitation in the region, Minister of Mines and Energy Kuntoro Mangkusubroto said here on Wednesday.

Avoiding a breakup

Avoiding a breakup Nobody who has observed the series of outbreaks of sectarian violence that has erupted in several of this country's regions since the downfall of the authoritarian regime of President Soeharto in May last year can escape the impression that something must be fundamentally wrong...

Eight killed in two-day Ambon riot

Eight killed in two-day Ambon riot JAKARTA (JP): At least eight people were killed in two days of clashes in the riot-torn Maluku capital of Ambon which started Tuesday, Antara reported on Wednesday.The news agency said that five people were killed on Tuesday and a further three died and dozens...

House has to pass 25 draft laws in 18 weeks

House has to pass 25 draft laws in 18 weeksBy Sugianto Tandra JAKARTA (JP): Last Thursday, the House of Representatives (DPR) passed a draft law limiting monopolistic business practices, the first initiative of the House in decades.

Inco sets up new RI venture

Inco sets up new RI venture TORONTO (AFP): Canadian-based Inco Limited and Japan's Dowa Mining announced Tuesday that they have entered a joint venture for copper, zinc, gold and silver exploration in Turkey and Indonesia.

Sofyan is 'no longer in hospital'

Sofyan is 'no longer in hospital' JAKARTA (JP): Sofyan Wanandi, a businessman implicated in a bank credit scam here, is no longer being treated in a clinic in the United States, the Attorney General's Office said on Wednesday as reported by Antara.

How Asian financial crisis has affected rural families

How Asian financial crisis has affected rural familiesBy John Madeley ROME: In a village on the Indonesia island of Lombok, 45-year old Inak Muli starts work at 6 a.m., making earthen pots. One of a small group of women, her day ends at 1 p.m. the following day.

South Korean 'chaebols' are laggards in recovery effort

South Korean 'chaebols' are laggards in recovery effortBy Pauline Jelinek SEOUL (AP): It was a rare public confession from some of South Korea's richest and most powerful men, the chairmen of four of the nation's five largest conglomerates.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Feb.24, 1999: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 350 -25 15,000 AHAP Insurance 400 0 0 Alter Abadi 275 0 0 Alumindo Light Metal 375 0 0 Alumindo Perkasa...

Scorpion joins RI project

Scorpion joins RI project TORONTO (Dow Jones): Scorpion Minerals Inc. said it has entered into a $7 million joint venture agreement with Aurora Gold Ltd. for the Sampanahan property in Southeast Kalimantan, Indonesia.

Price of unhusked rice

Price of unhusked riceFrom KompasSince publication in Kompas on Feb. 2, 1999, of a report on the drop in the price of unhusked rice, many responses have continued to dwell on the bureaucratic procedure.

KL says economy is on the rise

KL says economy is on the riseBy Ranjan Roy KUALA LUMPUR (AP): The good times are back -- or so the Malaysian government says.Shopping malls were crammed with people jostling to buy gifts for the Islamic holiday of Ramadhan and then for the Chinese New Year, and more people are buying houses and...

Handicapped athletes want more Sports Council's help

Handicapped athletes want more Sports Council's help JAKARTA (JP): The Indonesian Sports Body for the Disabled (BPOC) called on the National Sports Council (KONI) for more help on Tuesday on account of international laurels won by handicapped Indonesian athletes.

Wismoyo chairs sports council for second term

Wismoyo chairs sports council for second term JAKARTA (JP): Wismoyo Arismunandar won a landslide majority of votes to chair the National Sports Council (KONI) for a second four-year period as widely expected on Wednesday.

Sutami-Flores dam near collapse

Sutami-Flores dam near collapse KUPANG, East Nusa Tenggara: The Sutami dam -- which irrigates 3,600 hectares of paddy fields in Ngada regency, Flores Island -- is collapsing due to poor maintenance, Antara reported on Tuesday.Ngada Regent Johanes A.

Generators rented for Madura

Generators rented for Madura SURABAYA: The state electricity company PLN has been forced to rent generators with a total capacity of 40 megawatts (MW) for Madura which has been without electricity since Friday due to damage to an undersea cable, Antara said.

Court upholds staff dismissal

Court upholds staff dismissal JAKARTA (JP): The Jakarta Administrative High Court upheld on Wednesday a decision by the Indonesian-Hong Kong textile joint venture PT Tyfountex Indonesia, based in Surakarta, Central Java, to dismiss 1,772 of its 8,000 workers.