Indonesian Political, Business & Finance News

Archive: 10 July 1999

51 articles found

Bank Lippo donates back-to-school packages

Bank Lippo donates back-to-school packages TANGERANG (JP): Publicly listed Bank Lippo handed over 8,500 book packages and other school supplies to students at 19 state elementary schools located around Lippo Karawaci business and shopping complex in Curug on Friday.

Debt talks may ensnare Eurobonds

Debt talks may ensnare Eurobonds HONG KONG (Dow Jones): Holders of Indonesian Eurobonds may soon find themselves caught up in a new round of debt talks between Indonesia and Paris Club creditors, analysts say.

Megawati and the top job

Megawati and the top job To my disbelief, Mrs. Van der Zee (The Jakarta Post, June 25) replied to my letter of June 2, in which I argued that Mrs. Megawati Soekarnoputri would be prudent to avoid accepting the presidency. Mrs. Van der Zee presented Megawati as "eating politics for breakfast".

Pertamina's $6.1b 'graft' stuns Kuntoro

Pertamina's $6.1b 'graft' stuns Kuntoro JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto said on Friday he was dismayed by independent auditors' findings that state-owned oil company Pertamina lost US$6.1 billion in the past two years due to rampant corruption and gross inefficiency.

Property market recovery mixed

Property market recovery mixed SINGAPORE (Dow Jones): Property markets in Singapore, Hong Kong, Japan and the Philippines are poised for recovery, but prospects for China, Malaysia, Thailand and Indonesia aren't as bright, a director of Colliers Jardine Pte. Ltd. said Friday.

More poll officials stream into East Timor

More poll officials stream into East Timor DILI, East Timor (JP): A group of 60 international poll officials arrived on Friday, bringing their number to 306 for the August vote.Another 76 will arrive on Saturday, with the rest to arrive in batches until the sending of international assignees from...

KPU at center of storm as allegations rain down

KPU at center of storm as allegations rain down JAKARTA (JP): With students starting to question the credibility of the General Election Commission (KPU) in the wake of a tide of accusations, foreign observers are increasingly concerned about repercussions from any further delay in the announcement...

Asian central banks agree to reforms

Asian central banks agree to reforms HONG KONG (Reuters): Asia's central bankers on Friday agreed on the need to pursue appropriate macroeconomic policies and continue reform, and welcomed global efforts to strengthen the international financial system.

Deputy PM Lee says he can do top job

Deputy PM Lee says he can do top job SINGAPORE (Reuters): Singapore's Deputy Prime Minister Lee Hsien Loong said he was prepared to take office as prime minister if he had the support of the electorate but was not about to launch a leadership challenge.

Hanoi to write off bad debts

Hanoi to write off bad debts HANOI (DPA): Vietnam has instructed its treasury to write off or extend the debts of ailing state-owned enterprises (SOEs) targeted for privatization, officials said Friday.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on July 9, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 6,665.00 6,725.00 6,665.00 6,755.00Australian dollar 1 4,397.25 4,488.90 4,372.00 4,563.00Austrian schilling 1 491.89 501.41 - -Belgian franc 1 167.79 171.

Death toll hits four in South Sulawesi landslide

Death toll hits four in South Sulawesi landslide SINJAI, South Sulawesi (JP): The death toll rose to four from the landslide on early Wednesday in Pattiro hamlet in West Sinjai district after locals and rescue workers found two more bodies on Thursday and Friday.

CGI to meet on US$5b loan for Indonesia

CGI to meet on US$5b loan for Indonesia JAKARTA (JP): Indonesia's major donors pooled under the Consultative Group on Indonesia (CGI) are set to provide the country with US$5 billion in loans at the upcoming donors meeting, according to a senior government official.

Mobil starts supplying gas

Mobil starts supplying gas JAKARTA (JP): Mobil Exploration Indonesia State Inc., a unit of the American oil and gas company Mobil Corporation, has started providing feed gas to the liquefied natural gas producer PT Arun NGL Co.

Tourism and mining vital for the Banten region

Tourism and mining vital for the Banten region JAKARTA (JP): When people talk about Banten, they usually associate it with jawara (martial art master), debus (ritual display of invulnerability) or black magic.

Wiranto promises military not to protect Ghalib

Wiranto promises military not to protect Ghalib JAKARTA (JP): Confusion reigned on Friday over the legal status of former president Soeharto's chief investigator, Lt. Gen. Andi M. Ghalib, who stepped aside from the post of attorney general following allegations he had amassed Rp 13 billion through...

China vows to defer action on PNG until next govt formed

China vows to defer action on PNG until next govt formed PORT MORESBY (AP): China will wait to see the makeup of the next Papua New Guinea government before deciding whether to take action against the South Pacific nation for its controversial recognition of Taiwan, Chinese ambassador Zhang...

Osprey's debts rescheduled

Osprey's debts rescheduled SINGAPORE (Bloomberg): Osprey Maritime Ltd., a Singapore-based shipping company with ties to the family of former Indonesian president Soeharto, said its creditor banks agreed to roll over US$370 million in debt for at least three months.

PPD management agrees to 120-percent salary hike

PPD management agrees to 120-percent salary hike JAKARTA (JP): The board of directors at the state-owned Perum PPD bus company has agreed to meet workers' demands for a 120- percent wage hike, which will be implemented in stages over a six-month period starting with July salaries.

Government amends GDP growth forecast to 2 percent

Government amends GDP growth forecast to 2 percent JAKARTA (JP): The government is revising its economic growth forecast for the 1999/2000 fiscal year to 2 percent from an earlier flat projection amid convincing signs of economic recovery, according to a senior government official at the Ministry...

Villagers demand return of land

Villagers demand return of land YOGYAKARTA: Dozens of residents in Kranggan hamlet in Kulonprogo, 20 kilometers west of here, took over on Thursday two hectares of land that has been occupied by the local military for more than three decades, claiming the land had belonged to their ancestors.

Corp governance plan for RI

Corp governance plan for RI SYDNEY (Dow Jones): The Australian Securities & Investments Commission Friday signed an agreement with Edith Cowan University and accounting firm PricewaterhouseCoopers to develop and deliver corporate governance programs to regulatory and government officials in...

Kaneko outclasses Suhendar

Kaneko outclasses Suhendar JAKARTA (JP): Second-seeded Hideki Kaneko of Japan was too strong for Indonesia's Suhendar Dinata, defeating the wild card entry in straight sets 6-2, 6-4 in the singles quarterfinals of the Men's Indonesian Fertilizer Future 4 here on Friday.

Parking firms told to cover damages

Parking firms told to cover damages JAKARTA (JP): The city administration and council have temporarily agreed to order all car parking operators in the capital to cover car losses or damages due to fire through an insurance scheme, a city councilor said on Friday.

Media coverage of South Sulawesi polls lacking

Media coverage of South Sulawesi polls lackingBy A. Muis UJUNGPANDANG, South Sulawesi (JP): News coverage of the June 7 elections in South Sulawesi was undoubtedly of great significance in that it provided valuable information about the quality of the elections to ordinary people.

A change in focus of city development urged

A change in focus of city development urged JAKARTA (JP): The deputy head of the Land Transportation Agency, Dimmy Kirbrandiman, suggested on Friday the next administration consider developing the capital around railway stations.

RI team members get $45 stipend

RI team members get $45 stipend JAKARTA (JP): Athletes and sport officials taking part in the 20th Southeast Asian (SEA) Games next month will receive US$45 (Rp 301,500) each per day for personal expenses during their 12 days in Brunei Darussalam, an official of the National Sports Council (KONI)...

Shaman's drink fells family

Shaman's drink fells family JAKARTA (JP): Eleven family members were rushed to the Jakarta Islamic General Hospital in Central Jakarta early Friday after consuming a beverage from a man claiming to be a shaman.

SilkAir suspends Singapore-Jakarta route

SilkAir suspends Singapore-Jakarta route JAKARTA (JP): SilkAir announced on Friday it would suspend its 12-time weekly scheduled services linking Singapore to Jakarta starting July 26 due to a decline in passengers.

Tour agents bark at fare hike

Tour agents bark at fare hike YOGYAKARTA (JP): Travel agents said on Friday a planned increase in the admission fees at the tourist attractions Borobudur, Prambanan and Ratu Boko temples in Yogyakarta and Central Java would hurt the local tourism industry.

Writing needs more recognition

Writing needs more recognitionBy A. Chaedar Alwasilah BANDUNG (JP): The language skill often reported as most wanted by our students from elementary to graduate school is writing. Compared to other skills -- listening, speaking and reading -- writing is perceived as the most difficult to acquire...

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Art Exhibition by Cak Kandar, at Hotel Ciputra Jakarta, Jl. Let. Jend. S. Parman, West Jakarta (Phone: 5660640), 8 a.m. to 10 p.m., until Aug. 22. * Photo Exhibition: Karnaval, at Galeri Lontar, Komunitas Utan Kayu, Jl.

Taufik named in SEA Games squad

Taufik named in SEA Games squad JAKARTA (JP): World ranked number 11 badminton player, Taufik Hidayat, finally joins the national squad for the 20th Southeast Asian Games in Brunei next month, despite an objection that he is lacking preparation.

A not too pleasant surprise

A not too pleasant surprise When I read the article Government steps up anticorruption campaign on the front page of the July 7 edition, my reaction could not be described as anything but surprise, happiness and pride that at last the government was going in the right direction.

Reports surface of recent rapes in Aceh

Reports surface of recent rapes in Aceh JAKARTA (JP): A human rights group said on Friday it had received reports that security personnel had raped a number of women during the recent anti-separatist operations in Aceh.

Will Skate's resignation put end to PNG crisis

Will Skate's resignation put end to PNG crisisBy Paul Tait SYDNEY (Reuters): Taiwan's newest friend in the community of nations could be about to turn its back after Bill Skate's resignation as prime minister of Papua New Guinea.

Toll road crash yields mystery

Toll road crash yields mystery JAKARTA (JP): Police are investigating two men found in possession of three pistols and 100 bullets after a serious traffic accident on the Jakarta-Cikampek toll road on Friday morning.

Discrimination against Chinese

Discrimination against Chinese When returning to Indonesia from abroad, I was asked to fill out a customs declaration form.Questions number 11 to 15 needed to be answered with a "yes" or "no". One particular question struck me as odd, i.e. question number 14.

Police seize biggest ganja haul of the year

Police seize biggest ganja haul of the year JAKARTA (JP): Police arrested a university student from Aceh province and seized 245 kilograms of marijuana -- the biggest haul this year -- in his possession on Thursday.

Bulog set to resume rice imports soon

Bulog set to resume rice imports soon JAKARTA (JP): The State Logistics Agency (Bulog) said on Friday it would soon resume importing rice in anticipation of declining domestic supplies in the coming months.

Ship sinks off Philippines

Ship sinks off Philippines MANILA (AFP): A Panamanian-registered cargo vessel sank off the northern coast Philippines but all 22 Taiwanese and Indonesian crewmen aboard were rescued by a passing ship, the coast guard said on Friday.

Premature euphoria

Premature euphoria Economic ministers have of late been congratulating themselves on the remarkable signs of economic improvement over the last two months, especially after the peaceful parliamentary elections in early June.

Banten abounds in archeological treasures

Banten abounds in archeological treasuresBy Rita A. Widiadana JAKARTA (JP): Once a glittering sultanate and bustling seaport, the past glory of Banten on the northwest coast of Java is now fading.Banten, once the center of the Pakuan Padjadjaran Hindu kingdom and one of the most powerful Islamic...

European gamelan orchestra receives accolade in Yogya

European gamelan orchestra receives accolade in YogyaBy Asip A. Hasani YOGYAKARTA (JP): "You may say it is a translation of the traditional Javanese or Balinese gamelan orchestra into a western way of thinking, although we still respect the traditional gamelan very much," said Roderik de Man, a...

More bickering erupts among poll organizers

More bickering erupts among poll organizers JAKARTA (JP): More quarreling took place among poll organizers on Friday when chairman of the National Elections Committee (PPI), Jacob Tobing, challenged a statement from Rudini, the chairman of the General Elections Commission (KPU), that the former...

Crash relatives upset by inquiry

Crash relatives upset by inquiry SINGAPORE (DPA): Relatives of victims of the 1997 SilkAir crash want the Singapore government to open its own investigation into the crash, and expressed frustration on Friday that the probe was going so slowly.

Urban poor hardest hit by crisis: BPS

Urban poor hardest hit by crisis: BPS JAKARTA (JP): The country's urban poor, the group which has been hardest hit by the economic crisis, increased by 114 percent from 1996 to the end of 1998, the head of the official statistics body said.

Golkar chapters support Habibie's candidacy: Akbar

Golkar chapters support Habibie's candidacy: Akbar JAKARTA (JP): The ruling Golkar Party has reiterated its presidential nomination of President B.J. Habibie for the next General Session of the People's Consultative Assembly (MPR) despite mounting opposition to the incumbent.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 9, 1999: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 475 0 90,000 AHAP Insurance 525 0 0 Alakasa Industrindo 325 0 0 Alter Abadi 400 0 0 Alumindo Light Metal...

Millennium art festival provides exotic choices

Millennium art festival provides exotic choices JAKARTA (JP): Various activities -- ranging from theatrical performance, contemporary wayang shows, traditional dance, pantomime, pop music, jazz and classical music -- will entertain art lovers at the Exotic Millennium Art Festival this month.

Malaria plagues Jayapura, Cilacap

Malaria plagues Jayapura, Cilacap JAKARTA (JP): At least 1,300 people in the Irian Jaya capital of Jayapura and Cilacap in Central Java have been affected by malaria.Antara reported that Sarmi district in Irian Jaya was the hardest-hit area, where some 1,100 residents were found on Thursday to be...