Indonesian Political, Business & Finance News

Archive: 17 March 1999

49 articles found

Govt says economy set to bottom out

Govt says economy set to bottom out JAKARTA (JP): Indonesia's crisis-hit economy should bottom out in the first semester of the next fiscal year beginning in April after shrinking by an estimated 16 percent in the current 1998/1999 fiscal year, the government said Tuesday.

Defense asks military court to drop abduction charges

Defense asks military court to drop abduction charges JAKARTA (JP): Defense lawyers called on the military court on Tuesday to drop all charges against 11 Army's Special Force (Kopassus) soldiers, accused of abducting political activists in the last months of the Soeharto regime, claiming the...

Staffs of closed banks vow to continue strikes

Staffs of closed banks vow to continue strikes JAKARTA (JP): Employees of banks closed by the government late last week pledged on Tuesday to continue their strike unless demands for fair severance payment were met.

Acting on asset foreclosure

Acting on asset foreclosure JAKARTA (JP): Lawyer J.M. Sutarman on Tuesday urged the finance minister, the governor of Bank Indonesia and the chairman of the Capital Market Supervisory Agency to honor and follow up the South Jakarta district court's order last week for the foreclosure on two...

No paper

No paper In observance of the Hindu Day of Silence, The Jakarta Post will not be published tomorrow. The Post will appear again on Friday. -- The Publisher

Indovest Bank likely to close: Official

Indovest Bank likely to close: Official JAKARTA (JP): The government is weighing the fate of publicly listed Indovest Bank after its Japanese partners refused to recapitalize the ailing joint venture bank, a senior government official said on Tuesday.

ASEAN moves to avert future financial shocks

ASEAN moves to avert future financial shocks HANOI (AFP): Southeast Asian finance officials were attempting to firm up a proposal on Tuesday for an early warning system to avert future crises of the kind that has left regional economies in tatters.

Security forces fire warning shots in riot-torn Ambon

Security forces fire warning shots in riot-torn Ambon JAKARTA (JP): Tensions again rose in the ravaged Maluku capital of Ambon on Tuesday when a fire mysteriously broke out and a security officer fired warning shots to disperse spectators.

Women show their mettle in crisis

Women show their mettle in crisisBy Mayling Oey-Gardiner JAKARTA (JP): In Indonesia's predominantly patriarchal framework, women are all too often seen as the weaker sex. Yet, the ongoing economic and social crises seem only to be demonstrating how Indonesian women are, in fact, acting as a real...

17 foreigners caught for immigration violations

17 foreigners caught for immigration violations JAKARTA (JP): Immigration officers detained 15 Africans and two Indians for permit violations during raids on three different spots in the capital on Tuesday.Coordinator of Jakarta immigration affairs, Hamsuk S.

Diplomatic row erupts in Bangkok

Diplomatic row erupts in Bangkok BANGKOK (AFP): Thailand has threatened to revoke the diplomatic immunity of seven North Korean Embassy staff members facing possible arrest over a bungled kidnapping of a runaway diplomat, officials said on Tuesday.

Bank employees consult legislature

Bank employees consult legislature MEDAN, North Sumatra: Delegates of some 800 employees of liquidated banks went on Tuesday to the legislature here, rejecting the application of the severance pay regulations in their case.

Subdistricts lack office rent funds

Subdistricts lack office rent funds TANGERANG (JP): At least 13 subdistricts in Cipondoh district here are short of funds to extend their office rentals and could face eviction, an official said on Tuesday.

Inappropriate to ask for U.S. help

Inappropriate to ask for U.S. helpFrom Pikiran RakyatU.S. Secretary of State Madeleine Albright's visit to Indonesia embraced a comprehensive political mission. She paid a visit to the President and also met with a number of figures who could serve U.S. interests in Indonesia.

Judiciary marred by distorted rule of law concept

Judiciary marred by distorted rule of law concept The recent detention and trial of student demonstrators in Jakarta unveils the hypocrisy beneath the new law on freedom of expression. Political scientist J.

Baby found suffering from chronic undernourishment

Baby found suffering from chronic undernourishment JAKARTA (JP): At least one infant has been found to be suffering from chronic and acute undernourishment at the Cipto Mangunkusumo General Hospital (RSCM) in Central Jakarta.

The haj pilgrimage: A social and global vision

The haj pilgrimage: A social and global visionBy A Chaedar Alwasilah BANDUNG (JP): This year 71,078 Indonesians will perform the annual haj pilgrimage to the holy land of Mecca. This figure is about one third the number of pilgrims last year.

RI, Dutch energy cooperation

RI, Dutch energy cooperation JAKARTA (JP): Indonesia and the Netherlands have agreed to bolster bilateral relations in the energy sector.Indonesian Ministry of Mines and Energy's spokesman Budhi Sulistyo said in a statement on Friday the countries made the agreement during the Dutch-Indonesia...

Citizens arrest robbery suspects

Citizens arrest robbery suspects JAKARTA (JP): Two people were apprehended by Prumpung residents in East Jakarta late Monday after they were caught red- handed robbing a passerby in the area, Jakarta Police spokesman Lt. Col. Zainuri Lubis said.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on March 16 , 1999: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 350 0 0 AHAP Insurance 400 0 0 Alter Abadi 200 0 2,500 Alumindo Light Metal 350 25 25,000 Alumindo...

Rio Tinto, UNPAD sign deal

Rio Tinto, UNPAD sign deal JAKARTA (JP): Rio Tinto Foundation, established by mining company PT Rio Tinto Indonesia, has signed a cooperation agreement with Padjadjaran University (UNPAD) of Bandung, West Java, to promote geological studies.

Donated rice dumped in sea

Donated rice dumped in sea MAUMERE, East Nusa Tenggara: The branch of Care International in Maumere, Flores in Sikka regency here had to dispose of 325 sacks of rice on Sunday because the contents were no longer edible.The head of Care International here, Agnes Savitri F.

RI to wait to sign rice import contracts

RI to wait to sign rice import contracts JAKARTA (JP): Minister of Industry and Trade Rahardi Ramelan said on Tuesday that the government would not sign any new contracts to import rice until May or June.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on March 16, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,775.00 8,805.00 8,775.00 8,845.00Australian dollar 1 5,461.55 5,554.25 5,436.00 5,604.00Austrian schilling 1 686.66 697.94 - -Belgian franc 1 234.

Carter helps RP slum dwellers

Carter helps RP slum dwellers MANILA (AP): With hammer in hand, Former U.S. president Jimmy Carter will lead next week the construction of low-cost housing for slum-dwellers in the Philippines.Carter, along with about 2,000 other foreign and local volunteers, will put up the first of the homes in...

W. Sumatra governor resigns

W. Sumatra governor resigns JAKARTA (JP): Minister of Home Affairs Syarwan Hamid said he will appoint a caretaker to replace West Sumatra Governor Muchlis Ibrahim, whose resignation was approved by President B.J. Habibie on Wednesday.

Persija makes good start in Ligina playoffs

Persija makes good start in Ligina playoffs JAKARTA (JP): Persija made a fine start to open its campaign at the fifth Indonesian soccer league (Ligina) playoffs on Tuesday by defeating Pelita Bakrie 1-0 in a Group II round-robin match at the Senayan main stadium.

Hotel to donate meat to the needy

Hotel to donate meat to the needy JAKARTA (JP): PT Metropolitan Realty International, the owner of Horison Hotel in Ancol, North Jakarta, will provide three cows and 30 goats for slaughter in commemoration of the Islamic Day of Sacrifice on March 28.

Bogor judges upset by lack of cases

Bogor judges upset by lack of cases BOGOR (JP): The district court here announced on Tuesday that all of its 18 judges have had less to do in the past few months due to a significant drop of cases to be tried.

Poll watchdogs 'lacking coordination'

Poll watchdogs 'lacking coordination' JAKARTA (JP): The United Nations Development Program (UNDP) blamed on Tuesday a lack of coordination among three leading non- governmental organizations (NGOs) acting as poll watchdogs for its failure to disburse funds allocated for election monitoring.

Caltex's new project

Caltex's new project JAKARTA (JP): Oil company PT Caltex Pacific Indonesia has begun the operation of a light oil steamflood (LOSF) project in its Minas oil field in Bengkalis, Riau.The company announced the tertiary process to recover oil has gone through an intensive screening process, laboratory...

RI bank moves a positive step: S&P

RI bank moves a positive step: S&P JAKARTA (JP): Indonesia's latest bank restructuring move was a positive step and marked the effective nationalization of the banking sector, Standard and Poor's said Tuesday.

Ideological rift worsens conflict in politics

Ideological rift worsens conflict in politics JAKARTA (JP): Chief of the Armed Forces Territorial Affairs Lt. Gen. Susilo Bambang Yudhoyono said an ideological rift has worsened conflict among the political elite, hampering efforts to overcome the crisis.

Students injure two at RSCM

Students injure two at RSCM JAKARTA (JP): Two staff members at state-owned Cipto Mangunkusumo General Hospital (RSCM) suffered light wounds and a number of doors and windows in the hospital were broken by a group of some 30 students on Tuesday.

Memorandum of economic and financial policies

Memorandum of economic and financial policies JAKARTA: The following is text of the Supplementary Memorandum of Economic and Financial Policies, Fourth Review Under the Extended Arrangement, attached to a letter the Indonesian government wrote to the International Monetary Fund on Tuesday.1.

Another criminal shot dead

Another criminal shot dead JAKARTA (JP): Police shot dead another alleged criminal near the crowded Cililitan bus terminal in East Jakarta early Tuesday morning, bringing to 24 the number of alleged criminals shot dead by police over the last two months.City police spokesman Lt. Col.

Kowani's statement

Kowani's statementFrom Media IndonesiaThe Indonesian Women's Congress appeals to the political parties in the following manner;1. In conformity with the demands of the reform era and democratization which is marked by the increasing number of political parties, the Indonesian Women's Congress...

Bank Indonesia to take errant bankers to court

Bank Indonesia to take errant bankers to court JAKARTA (JP): Bank Indonesia (BI) Governor Sjahril Sabirin pledged on Tuesday to take to court the management and owners of the 38 banks closed down last week who were suspected of violating banking rules.

Asia's oil producers reject call to cut output

Asia's oil producers reject call to cut output SINGAPORE (Reuters): Some of Asia's main oil producers have rejected calls by the world's biggest exporters to cut output in a bid to raise sunken prices.The lone voice of support has come from Indonesia -- Asia's only member of the Organization of the...

Next president

Next president A date for the general election has been fixed, and we are waiting and praying that we will get a good president, one who can lead us to a better Indonesia. By a good president I mean that he or she should have a good educational as well as religious background.

PLN renegotiates deals with IPPs

PLN renegotiates deals with IPPs JAKARTA (JP): President of state electricity company PT PLN Adhi Satriya said on Tuesday renegotiations would soon get underway with independent power producers (IPP) on power purchase agreements.

Elections committee set up to run polls

Elections committee set up to run polls JAKARTA (JP): The General Elections Commission (KPU) established on Tuesday a seven-member National Elections Committee (PPI) to run the general election scheduled for June 7.

PT Telkom to enter joint ventures for more efficiency

PT Telkom to enter joint ventures for more efficiency JAKARTA (JP): The government plans to convert the existing joint operation schemes between state-owned telecommunications operator, PT Telkom, and private partners into joint ventures in order to improve efficiency, a minister said on Tuesday.

Hindus to attend ritual at Prambanan

Hindus to attend ritual at Prambanan SEMARANG: At least 50,000 Hindus from Central Java and Yogyakarta are to attend the Tawur Agung Sasih Kesanga rite centered at the Prambanan temple in Klaten, Central Java, on Wednesday.

Young designer promotes ready-to-wear collection

Young designer promotes ready-to-wear collectionBy Stevie Emilia LOMBOK, West Nusa Tenggara (JP): Expressionless models wearing chic, clear-cut, all-white, simple ready-to-wear outfits took to the stage with slow strides under the shade of palm trees.

Golkar 'the common enemy' to beat lawfully in polls

Golkar 'the common enemy' to beat lawfully in polls JAKARTA (JP): Ruling party Golkar will be the common enemy of parties seeking political changes in the country, but it must be defeated through fair play, politician Rudini said on Tuesday.

Southeast Asian currencies rise further as yen surges

Southeast Asian currencies rise further as yen surges SINGAPORE (Dow Jones): Southeast Asian currencies extended their recent bull-run, rising further against the U.S. dollar during Asian trading late on Tuesday.North Asian currencies also rose, but most analysts remained extremely cautious.

Soehartos puts London homes on market: Report

Soehartos puts London homes on market: Report JAKARTA (Agencies): Relatives of former president Soeharto are selling three lavish London properties in a move which could be linked to the corruption probe Soeharto faces back home, AFP reported on Tuesday.

Prosecutor's demand to free legislator Nurdin protested

Prosecutor's demand to free legislator Nurdin protested UJUNGPANDANG, South Sulawesi (JP): Hundreds of university students and lecturers on Tuesday protested the provincial prosecutor's office over its demand for the acquittal of legislator Nurdin Halid on charges of embezzling funds from a...