Indonesian Political, Business & Finance News

Archive: 10 June 1999

51 articles found

PASI eying six golds in 20th SEA Games

PASI eying six golds in 20th SEA Games JAKARTA (JP): The Indonesian Amateur Athletics Association (PASI) is eying a target for six golds in the 20th Southeast Asian (SEA) Games in Brunei in August.PASI technical committee deputy Pieter Noya said the country held good chances of winning six golds in...

Asian bond spreads tighten despite U.S. rate concern

Asian bond spreads tighten despite U.S. rate concern HONG KONG (Dow Jones): Recent rallies in regional stock markets helped Asian bonds temporarily overcome U.S. interest rate concerns to see a further tightening of spreads.

Sri Lanka to quit INRO due to financial burden

Sri Lanka to quit INRO due to financial burden COLOMBO (Reuters): Sri Lanka wants to pull out of the International Natural Rubber Organization (INRO) because it can no longer afford membership, government and trade officials said on Wednesday.

Unocal finds oil in Rapak

Unocal finds oil in Rapak JAKARTA (JP): State oil and gas company Pertamina announced on Wednesday that its American contractor, Unocal Indonesia, has discovered an oil reserve at its Rapak production sharing contract area in East Kalimantan.

Some areas demand that polls be repeated

Some areas demand that polls be repeated JAKARTA (JP): As provincial elections committees continued to tally the votes on Wednesday, reports of elections violations and demands to repeat the polls in certain areas continued to flow in from the provinces.

Money politics burdens democratization

Money politics burdens democratization Money Politics -- Pengaruh Uang Dalam Pemilu (Money Politics -- The Effects of Money in Elections); By Indra Ismawan; Media Pressindo, Yogyakarta, April 1999; iv and 82 pages YOGYAKARTA (JP): Money used as a means to gain political power is not a new practice.

Economy will grow if Indonesia names president quickly

Economy will grow if Indonesia names president quickly SINGAPORE (Dow Jones): The Indonesia economy could grow this year if, contrary to expectations, the country selects its next president quickly and returns to political stability, a top economist for the Pacific Economic Cooperation Council...

Five shot in Banyumas clash

Five shot in Banyumas clash BANYUMAS, Central Java: At least five people were shot when local police fired their guns to break up a clash between residents of two neighboring villages in Banyumas regency on Tuesday morning.Another resident was injured after being trampled by the brawling crowd.

Peaceful be my country

Peaceful be my countryFrom Rakyat MerdekaIndonesia is now entering a significant stage in its history. What has been done and what will be done will greatly affect the future of the country. The problems that have arisen are diverse, complicated and inter-related.

Where to go in Bali:

Where to go in Bali:Exhibition * Arts Exhibition: A Diversity in Art, by Art Teachers of Denpasar Art Academy and Udayana University, at Museum Puri Lukisan, Jl. Raya Ubud, Gianyar (Phone: 0361 975136), 8 a.m. to 4 p.m., until June 30.Music and Entertainment * Hard Rock Hotel, Jl.

Final returns expected in one more week

Final returns expected in one more week JAKARTA (JP): Townspeople eager to know the final returns will be kept in suspense until June 17.Chief of the Jakarta Provincial Elections Committee Djafar Badjeber said on Wednesday the announcement date had been set by the General Elections Commission (KPU).

China refuses to be blown by the winds of change

China refuses to be blown by the winds of change This is the second of two articles on changes taking place in Indonesia, South Africa and China as reported by The Jakarta Post Asia correspondent Harvey Stockwin.

Keep presidential term short

Keep presidential term short Indonesia possesses great potential with its natural and human resources. Its beauty attracts tourists who want to come and see all it has to offer. This has led Indonesia to be dependent on tourism as one of its financial strengths.

South Sumatra councilor and official detained for drugs

South Sumatra councilor and official detained for drugs JAKARTA (JP): The deputy speaker of South Sumatra's Musi Rawas Regency Legislative Council and an aide to the provincial governor were arrested on Tuesday night in a hotel room in West Jakarta for being under the influence of shabu-shabu...

Rupiah, stock prices tumble on Golkar's strong showing

Rupiah, stock prices tumble on Golkar's strong showing JAKARTA (JP): The Indonesian rupiah and stock prices ended lower on Wednesday after rising astronomically the previous day, as the market got jittery from the strong showing of ruling Golkar party at the polls.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on June 9, 1999: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 450 0 204,500 AHAP Insurance 525 0 0 Alakasa Industrindo 275 0 0 Alter Abadi 325 0 366,000 Alumindo...

Ghalib offers to buy ties 'banned' reporters

Ghalib offers to buy ties 'banned' reporters JAKARTA (JP): Attorney General Andi M. Ghalib denied banning three local news journalists at his office."It was merely a misunderstanding with (my office's) public relations division," Ghalib told reporters on Wednesday prior to a Cabinet meeting at Bina...

Irian ex-hostages still traumatized

Irian ex-hostages still traumatized JAYAPURA, Irian Jaya: Most of the 11 Irianese, kidnapped on May 5 by an armed group who were rescued 36 days later, have refused to return to work at Mur II Inti Arso PIR V resettlement transmigration area.

Cambodia welcomes Le Kha Phieu

Cambodia welcomes Le Kha Phieu PHNOM PENH (Reuters): Vietnam's Communist Party Secretary- General Le Kha Phieu was given a red-carpet welcome upon arrival in Cambodia on Wednesday for a 24-hour visit aimed at ironing out nagging disagreements between the neighbors.

TV today

TV todayTVRI 5:30 a.m. Religious Teachings 6:00 News: Two Hours Only 8:00 Children's Program 9:00 Music 10:00 Interval 2:00 p.m. News 2:30 TV Series 3:00 Music 4:00 News 4:30 Religious Teachings 5:00 Koran Recital 5:30 TV Drama 6:00 Sports 6:30 News (in English) 7:00 Evening News 7:30 TV Drama 9:00...

Where to go in Surabaya:

Where to go in Surabaya:Exhibitions * Children's Painting Exhibition at the Gallery CCCL - French Cultural Center, Jl. Darmokali 10 (Phone: 031 5678639), 9 a.m. to 8 p.m., June 12-17. * Photo Exhibition: By Elizabeth Carecchio, at the Gallery CCCL - French Cultural Center, 9 a.m. to 8 p.m., Jun.

Emotional Ghalib calls ICW executive 'animal'

Emotional Ghalib calls ICW executive 'animal' JAKARTA (JP): The war of words between Attorney General Lt. Gen. Andi M. Ghalib and Indonesian Corruption Watch (ICW) executive Teten Masduki turned from trading accusations on Wednesday to trading insults, with Ghalib calling his adversary "an animal".

Golkar activists play money politics

Golkar activists play money politics SEMARANG: The Central Java provincial elections committee alleged that Golkar activists in Wonogiri, Rembang, Pemalang and Kudus regencies were involved in vote buying.

Foreigners can acquire, establish holding firms

Foreigners can acquire, establish holding firms JAKARTA (JP): The government issued new decree on Wednesday allowing foreign investors to establish a holding company or acquire stake up to 100 percent in existing ones.

Strong economic outlook pushes won to 5-month high

Strong economic outlook pushes won to 5-month high HONG KONG (Dow Jones): A rally in the yen combined with a strong fundamental economic outlook to push the South Korean won to a five-month high against the U.S. dollar during Asian trading hours Wednesday.

Ballot counting ends in chaos

Ballot counting ends in chaos PALANGKA RAYA, Central Kalimantan: Many mayoralty election officials here have absented themselves from the polling process, upon realizing their parties were performing poorly, Antara reported on Wednesday.

Abduction claims from poll watcher

Abduction claims from poll watcher BANDARLAMPUNG, Lampung: A poll monitoring volunteer was abducted early Tuesday by four unidentified men who sought "cooperation" to beat main opposition parties, Antara reported on Wednesday.

Poll monitoring body records 19,504 violations

Poll monitoring body records 19,504 violations JAKARTA (JP): The Independent Election Monitoring Committee (KIPP) has discovered 19,504 violations during Monday's balloting across Indonesian provinces outside East Timor and Aceh, according to chairman Mulyana W. Kusumah on Wednesday.

RP to renegotiate air pacts

RP to renegotiate air pacts MANILA (DPA): The Philippines plans to renegotiate air agreements with four Asian countries to ensure that Philippine Airlines (PAL) will not face unfair competition amid efforts to revive the flag carrier's operations, officials said Wednesday.

Anwar bids to strike out case

Anwar bids to strike out case KUALA LUMPUR (Reuters): Jailed former finance minister Anwar Ibrahim said on Wednesday that government prosecutors had used questionable tactics to try to convict him, and urged a judge to throw out a sodomy case he faces.

Unocal funds water project

Unocal funds water project JAKARTA (JP): Geothermal power producer PT Unocal Geothermal Indonesia, a subsidiary of American energy company Unocal Corp. has built clean water facilities for the community living around its power plant in Salak, Sukabumi, West Java.

Mayora protesters driven away

Mayora protesters driven away JAKARTA (JP): After a six-day-long demonstration in front of cookie producer PT Mayora's head office on Jl. Raya Tomang, West Jakarta, hundreds of laid-off workers were removed by police on Wednesday without resistance.

Overhaul needed

Overhaul needed If there is one thing that has almost managed to divert the attention of Indonesians amid the strains and expectations in the wake of Monday's general election, it is the corruption charges which the Indonesian Corruption Watch (ICW) leveled against Attorney General Andi Muhammad...

KPU system held responsible for tardy vote count

KPU system held responsible for tardy vote count JAKARTA (JP): With no end in sight to the vote tally, telecommunications experts have blamed the system deployed by the General Elections Commission (KPU).

Djajanti Group to build CPO refinery

Djajanti Group to build CPO refinery JAKARTA (JP): PT Varita Majutama, the plantation arm of Indonesian timber company Djajanti Group, announced on Wednesday it would build a US$7.5 million crude palm oil (CPO) processing plant to service its oil palm plantation in the Babo subdistrict of Irian...

Language and politics

Language and politics I refer to the article Government abolishes anti-Chinese rules (The Jakarta Post, May 8, 1999), which states that President B.J. Habibie has issued an instruction to lift an almost three-decade ban on the use and teaching of Mandarin and the discriminative citizenship...

PLN denies giving contract to PT Enico

PLN denies giving contract to PT Enico JAKARTA (JP): State electricity company PT Perusahaan Listrik Negara (PLN) insisted on Wednesday that it would not compensate a local service company for the losses caused by the breach of a coal waste cleaning contract almost a decade ago.

Police advocate militia chiefs appointment

Police advocate militia chiefs appointment DILI, East Timor (JP): East Timor Police chief Col. G.M. Timbul Silaen defended on Wednesday the appointment of Eurico Guteres and Manuel Sousa, as leaders of civilian militia forces, locally known as Pam Swakarsa.

Councilors banned from side jobs

Councilors banned from side jobs JAKARTA (JP): City Council Speaker Edy Waluyo said on Wednesday he notified Governor Sutiyoso in writing that councilors should not be assigned to additional duties."According to Article 42 of Law No. 16, councilors holding side jobs can face dismissal," Edy said.

Benchmark rate drops again

Benchmark rate drops again JAKARTA (JP): The benchmark interest rate on one-month Bank Indonesia promissory notes (SBI) fell to 23.48 percent at Wednesday's auction from 24.65 percent previously, the central bank announced.It noted the interest rate declined by 12.9 percent over the past two months.

Protesting workers make 10-km march

Protesting workers make 10-km march TANGERANG (JP): Hundreds of workers of furniture manufacturer PT Arjuna Maha Sentosa protested on Wednesday by marching from the Tangerang office of the Ministry of Manpower to their company's factory on Jl. Kasir II in Gembor village, Jatiuwung.

Poll praise premature: Experts

Poll praise premature: Experts JAKARTA (JP): Foreign and local observers both voiced on Wednesday grave concern over the snail's pace of vote counting as an unofficial tally showed the ruling Golkar Party leaping into second place and opposition parties aired suspicion of foul play.

The relevance of peaceful elections

The relevance of peaceful elections The smooth general elections is a good beginning. The next step to take is to make sure that all parties accept the results in the spirit of good sportsmanship. A mature attitude, especially among our political leaders, will have a substantial effect on this...

Fatal shooting protested

Fatal shooting protested JAYAPURA, Irian Jaya: The city was tense on Wednesday as approximately 50 people held a sit-in strike in front of the provincial council office to protest Monday's fatal shooting of a Genyem resident at Gresi district here.

Asian economies to ride out external risks

Asian economies to ride out external risks HONG KONG (AFP): Asian economies are expected to overcome a possible U.S. interest-rate increase and a sluggish Japanese economy to maintain their recovery, according to a U.S. investment house.

Forex reserves slide to $15.89 billion

Forex reserves slide to $15.89 billion JAKARTA (JP): Bank Indonesia said on Tuesday its net foreign exchange reserves decreased by US$35 million to $15.89 billion on June 4 compared to the previous week's level.

PDI-P, PAN and PKB urged to coalesce

PDI-P, PAN and PKB urged to coalesce JAKARTA (JP): Noted Muslim intellectual Nurcholish Madjid called on the Indonesian Democratic Party of Struggle (PDI-P), the National Mandate Party (PAN) and the National Awakening Party (PKB) to form a coalition government to push for reform.

The risk of short-term capital

The risk of short-term capitalBy Winarno Zain JAKARTA (JP): The rapid rise of the share price index of the Jakarta Stock Exchange (JSX) in the past several weeks was surprising indeed. After hitting 300 early this year, it bounced back to over 600 before declining.

Two soldiers, one civilian killed in Aceh

Two soldiers, one civilian killed in Aceh JAKARTA (JP): Three bodies, including those of two military personnel, were found at Teupin Batee village in Idie Rayeuk district, East Aceh, on Tuesday evening, a senior official said.Lilawangsa Military Commander Col.

Golkar gaining ground in areas outside Java

Golkar gaining ground in areas outside Java JAKARTA (JP): The Indonesian Democratic Party of Struggle (PDI Perjuangan) maintained on Wednesday its lead, but the vote counting result as of 11 p.m. showed Golkar was slowly gaining ground by leading in provinces outside Java.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on June 9, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 7,700.00 7,760.00 7,700.00 7,800.00Australian dollar 1 5,032.85 5,124.26 5,007.00 5,199.00Austrian schilling 1 581.95 591.54 - -Belgian franc 1 198.51 201.