Indonesian Political, Business & Finance News

Archive: 4 May 1999

47 articles found

Jepara still tense as residents fear retaliation flee

Jepara still tense as residents fear retaliation flee SEMARANG (JP): The Central Java town of Jepara remained tense on Monday and a number of people fled to neighboring cities following the bloody clash between supporters of two Muslim-based parties that killed four last Friday.

Palembang gets bomb scare

Palembang gets bomb scare PALEMBANG, South Sumatra: A major shopping center here was the latest victim of a bomb scare after a general hospital and the Sultan Mahmud Badaruddin II Mosque received similar threats.

KL cuts intervention rate

KL cuts intervention rate KUALA LUMPUR (AFP): Malaysia's central bank reduced its three- month intervention rate from 6.5 percent to 6.0 percent Monday.Bank Negara Malaysia governor Ali Abul Hassan Sulaiman said the cut reflected the "moderating trend in the expected inflation rate" and would help...

Cabinet approves East Timor autonomy deal

Cabinet approves East Timor autonomy deal JAKARTA (JP): President B.J. Habibie's Cabinet has unanimously endorsed the autonomy package deal for East Timor to be signed on Wednesday together with Portugal in New York, Minister of Information Lt. Gen. Muhammad Yunus announced on Monday.

ANZ Panin Bank buys BPS' credit card business

ANZ Panin Bank buys BPS' credit card business JAKARTA (JP): ANZ Panin Bank has agreed to buy the credit card receivables and operations of closed down Bank Papan Sejahtera from the International Bank Restructuring Agency.

Finance minister upbeat on inflation outlook

Finance minister upbeat on inflation outlook JAKARTA (JP): Despite the potential for turmoil around the upcoming general election, Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita is optimistic that inflation in the 1999/2000 fiscal year will be about 10 percent, far...

'Warta Kota' hits the street

'Warta Kota' hits the street JAKARTA (JP): Kompas, Indonesia's leading daily newspaper, launched on Monday its new city journal -- Warta Kota -- which will target the middle and upper classes in Greater Jakarta.Banu Astono and Henry Ch.

Coach happy with shuttlers' physical fitness improvement

Coach happy with shuttlers' physical fitness improvement JAKARTA (JP): With only a few days to go before the Sudirman Cup, Indonesian badminton team trainer Tahir Djide expressed satisfaction with improvements in the national shuttlers physical condition.

HK to launch inquiry into exploitation of foreign maids

HK to launch inquiry into exploitation of foreign maids JAKARTA (Agencies): Hong Kong's Immigration Department is to investigate reports of widespread under-payment of Indonesian domestic helpers, news reports said on Monday.

Where to go in Bandung:

Where to go in Bandung:Exhibitions * Painting Exhibition: by Elly Djohariah Roedyat and Syeni Setiayu Roedyat, at Galeri Bandung, Jl. Siliwangi 16 (Phone: 022 236515), 9 a.m. to 5 p.m., until May 15. * Photo Exhibition by Frank Thiel, at Galeri Red Point, Jl. Jurang 103, May 10 to May 21.

Hollow promises

Hollow promises The government's reiteration last week of its determination to take legal action against bad bankers and bad debtors responsible for at least Rp 150 trillion (US$17.5 billion) in bad debts, or more than 40 percent of Indonesia's gross domestic product, rings hollow given its dismal...

Economy contracted 10% in 1st quarter

Economy contracted 10% in 1st quarter JAKARTA (JP): The 22-month economic crisis continues to take its toll, with the economy contracting by 10.34 percent in the first quarter of 1999 compared to the same period last year, the Central Bureau of Statistics (BPS) reported on Monday.

Pioneer exports corn seeds

Pioneer exports corn seeds JAKARTA (JP): United States-based corn seed producer PT Pioneer Hibrida Indonesia said on Monday it had exported 200 tons of corn seed to Japan.Pioneer country manager Andy Gumala said Japan was the third overseas market Pioneer had entered after Thailand and the...

Lists of legislative candidates tardy

Lists of legislative candidates tardy JAKARTA (JP): Only two of the 48 parties -- The National Awakening Party (PKB) and the Indonesian People's Party (Pari) -- look set to meet Tuesday's deadline for submission of a list of legislative candidates to the National Elections Committee (PPI).

Conversion Rates

Conversion Rates Bank Bali's conversion rates on May 3, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,030.00 8,100.00 8,030.00 8,140.00Australian dollar 1 5,293.55 5,381.75 5,268.00 5,431.00Austrian schilling 1 614.67 625.06 - -Belgian franc 1 209.67 213.

Mahathir warns govt employees

Mahathir warns govt employees KUALA LUMPUR (AP): Prime Minister Mahathir Mohamad on Monday warned bureaucrats against joining the ranks of political dissenters, saying government employees were bound to obey policies, a news report said.

Elderly couple killed in robbery

Elderly couple killed in robbery JAKARTA (JP): A couple were found dead in their house on Jl. Hidup Baru in West Pademangan district, North Jakarta, early on Monday.Gan Hen Hok, 50, was found with his throat cut while his wife, Chang Hui Moi, 40, died of multiple stab wounds.

PDAM Jaya head investigated for employee protests

PDAM Jaya head investigated for employee protests JAKARTA (JP): The city inspectorate office is investigating the possible involvement of Rama Boedi, the president of city water company PDAM Jaya, in a series of protests by the firm's employees demanding it end its cooperation with two foreign...

The Crescent Star Party

The Crescent Star Party Two recent front page articles (April 16 and April 19) on the Crescent Star Party (PBB) and its chairman Prof. Yusril Ihza Mahendra attracted my attention. What fascinated me was not so much the party's economic and political platforms, which endorse such things as a market...

Government assures SMEs of more subsidized loans

Government assures SMEs of more subsidized loans JAKARTA (JP): Minister of Finance Bambang Subianto reaffirmed on Monday the government's commitment to provide cheap loans to help small and medium-size companies (SMEs) and cooperatives survive the prolonged economic crisis.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on May 3, 1999: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 400 0 135,000 AHAP Insurance 425 0 0 Alakasa Industrindo 250 100 62,500 Alter Abadi 275 50 221,500...

SE Asian monies higher as rupiah sentiment brightens

SE Asian monies higher as rupiah sentiment brightens SINGAPORE (Dow Jones) Fund inflows lifted Southeast Asian currencies higher against the U.S. dollar Monday, as offshore investors maintained their bullish stance towards the region.

Most Asian stock markets close higher

Most Asian stock markets close higher HONG KONG (AP): Most Asian stock markets closed higher Monday, with the key index in Jakarta surging almost 6 percent to its highest level in a year.Japanese financial markets were closed Monday for Constitution Day, a national holiday.

Thailand's rice exports fall

Thailand's rice exports fall BANGKOK, Thailand (AP): In a blow to cash-strapped Thailand, the country's second quarter rice exports are likely to decline because of sluggish demand from leading importing nations, government officials and rice industry executives said Monday.

Irian independence impossible: Habibie

Irian independence impossible: Habibie JAKARTA (JP): President B.J. Habibie told his Cabinet on Monday there was a group of people in Irian Jaya who misunderstood his recent statement on the possibility of independence for the province.

15 killed in Aceh as troops open fire

15 killed in Aceh as troops open fire JAKARTA (JP): At least 15 people were killed and 77 injured when military troops fired on villagers in Pulo Rungkom, near Lhokseumawe, on Monday.Lhokseumawe Military Commander Col.

Police urge residents to stay at home during campaign period

Police urge residents to stay at home during campaign period JAKARTA (JP): City police on Monday suggested Jakartans spend less time outside their houses and offices during the campaign period."If there's any choice, staying at home will be the best option," Jakarta Police spokesman Lt. Col.

Astra Agro plans new CPO plants

Astra Agro plans new CPO plants JAKARTA (JP): Publicly listed plantation company PT Astra Agro Lestari announced on Monday it would begin operating two new crude palm oil (CPO) plants by the end of the first half of this year to process the expected increase in its oil palm production.

Indonesian fires bringing haze back to Southeast Asia

Indonesian fires bringing haze back to Southeast AsiaBy Juergen Dauth HONG KONG: The feared and terrible haze which settled over much of Southeast Asia like a smoggy blanket two years ago is now threatening to make a reappearance in the region.

No losses in Goro case: Witnesses

No losses in Goro case: Witnesses JAKARTA (JP): Hutomo "Tommy" Mandala Putra, the youngest son of former president Soeharto charged for his alleged role in a Rp 95.4 billion (US$10.9 million) land scam, smiled on Monday when two witnesses said nobody suffered any losses in the case.

NCR inaugurates local subsidiary

NCR inaugurates local subsidiary JAKARTA (JP): Ohio-based Automated Teller Machine (ATM) manufacturer NCR Corporation on Monday launched the establishment of its wholly owned Indonesia subsidiary.The company said the new subsidiary, PT NCR Indonesia, was established last year to provide better...

Defense boss sees S'porean leaders

Defense boss sees S'porean leaders SINGAPORE (AP): Australia's chief of defense force, Adm. Chris Barrie, called on Singapore Prime Minister Goh Chok Tong and Defense Minister Tony Tan on Monday.Barrie also called on Singapore's chief of defense force, Lt. Gen.

Rerun of Riau's 1997 fires possible: Official

Rerun of Riau's 1997 fires possible: Official JAKARTA (JP): The disastrous forest fires of 1997 may return to Riau province without immediate and concerted preventative efforts, an official at the National Space and Aviation Agency warned on Monday.

Encephalitis can be hazardous

Encephalitis can be hazardous I refer to the article Threat of Japanese encephalitis outbreak looms in Indonesia which I read with concern in The Jakarta Post on April 7, 1999. I am living in Bali and the data reported in your article regarding the presence of this disease on the island confirmed...

Volcano smokes, public cautioned

Volcano smokes, public cautioned PURWOKERTO, Central Java: Increased activity of Mount Slamet has led Governor Mardiyanto to instruct regents to take necessary precautions. The closest regencies around the 3,428-meter-high mountain are those of Banyumas, Pemalang, Brebes and Purbalingga.

Exams scheduled except in Ambon

Exams scheduled except in Ambon JAKARTA: National final examinations for senior high school will be carried out on schedule from May 3 through May 6, except for Ambon, Maluku, due to security reasons.At least 300 have died in clashes with religious overtones since January in the province.

Six million get scholarships

Six million get scholarships JAKARTA: The government will disburse scholarships from its budget of two million to six million school-aged children from poor families, Antara reported.Coordinating Minister of Public Welfare and Eradication of Poverty Haryono Suyono said children from seven to 15...

Neiss urges interest rate reduction to fuel recover

Neiss urges interest rate reduction to fuel recover JAKARTA (Dow Jones): Indonesia should be "a little faster" in allowing interest rates to fall to help fuel a recovery, the International Monetary Fund's top Asia Pacific official Hubert Neiss said Monday.

Internet financial service

Internet financial service JAKARTA (JP): American financial information provider Bridge Information System, in cooperation with local Internet provider PT IndoInternet, launched on Monday an internet-based financial and market data service.Bridge country manager for Indonesia Mohd.

Toward better English skills

Toward better English skillsBy Besral BANDUNG (JP): In justifying educational programs, teachers around the globe are always the victims of a struggle between experts, parents and bureaucrats. Although some crucial factors evolved on the parts of supporting materials, students' motivation,...

Asian media freer in 1998

Asian media freer in 1998 BANGKOK (AFP): Press freedom in Asia is improving but China and Myanmar are still among the worst countries in the world for the oppression of journalists, a leading international journalists' organization said on Monday.

Wiranto praises Madurese patience

Wiranto praises Madurese patience JAKARTA (JP): Minister of Defense and Security/Indonesian Military (TNI) Commander Gen. Wiranto has praised Madurese people from Sambas, saying they showed tremendous forbearance during the recent ethnic riots which ravaged the West Kalimantan regency.

Gov't offices quiet, Maluku still tense

Gov't offices quiet, Maluku still tense TUAL, Maluku: There are no signs that normalcy has returned to Tual, Southeast Maluku, after riots and killings broke out here late March.According to Antara, government offices were almost empty on Monday.

Nikko cancels bankruptcy claim against Bayu Buana

Nikko cancels bankruptcy claim against Bayu Buana JAKARTA (JP): PT Nikko Securities Indonesia has canceled its bankruptcy claim against publicly listed PT Bayu Buana after the two companies reached an out-of-court agreement to settle their debt dispute.

RP leader dismisses remark

RP leader dismisses remark MANILA (AFP): Philippine President Joseph Estrada brushed aside Malaysian Prime Minister Mahathir Mohamad's charges on Monday that he intervened in Kuala Lumpur's internal affairs when he met opposition leader Azizah Ismail here last week.

Rum-Royen agreement

Rum-Royen agreement May 7, 1999 marks the 50th anniversary of a great event in the history of Indonesian diplomacy, the Rum-Van Royen Agreement. So far, the peculiar fact discernible is that three episodes are well appraised, judging from monographs on them.

Peace messages from students

Peace messages from students JAKARTA (JP): Those who pass by the United Nations office on Jl. M.H. Thamrin in Central Jakarta may have already spotted three jumbo banners suspended from the building.The eye-catching banners contain messages of peace and pleas for inter-cultural understanding and...