Indonesian Political, Business & Finance News

Archive: 22 July 1999

Showing 51-58 of 58 articles

Indonesian riders expected to keep ahead of the pack

Indonesian riders expected to keep ahead of the pack By Ivy Susanti and Sri Wahyuni JAKARTA (JP): Indonesian cyclists are vowing to retain their regional supremacy by grabbing four of seven golds at stake in the 20th Southeast Asian (SEA) Games, despite financial problems which prevented local and overseas tryouts.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on July 21, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

PLN jolted by big losses in 1998

PLN jolted by big losses in 1998 JAKARTA (JP): State-owned electricity company PT PLN saw its losses jump 15 fold in the year ending Dec. 31, 1998, mainly as a result of the increased cost of procuring electricity from private contractors and soaring debt servicing costs. PLN president Adhi Satrya told a hearing with House Commission V for industry, mining and trade on Tuesday night that PLN lost Rp 9.16 trillion (US$1.4 billion) in 1998, up from Rp 579 billion a year earlier.

Indonesia's money still going down the drain

Indonesia's money still going down the drain By Santo Koesoebjono WASSENAAR, The Netherlands (JP): Former president Soeharto is widely said to be smarter than Ferdinand Marcos. If so, then is it worthwhile to continue chasing his alleged "loot", which he should have hid even better than the deceased Philippine dictator? A banker and observer of the Indonesian economy in Amsterdam explained that money laundering was simple to commit.

Merpati wants role in transporting haj pilgrims

Merpati wants role in transporting haj pilgrims JAKARTA (JP): Local private airline Merpati Nusantara is seeking the government's approval to become involved once again in the transportation of haj pilgrims to Mecca, Saudi Arabia, next year. Merpati president Wahyu Hidayat said on Tuesday the airline was fully prepared to participate and was capable of providing a reliable service. "We are ready.

State security bill 'could snuff out democracy': Parwi

State security bill 'could snuff out democracy': Parwi JAKARTA (JP): Observers warn that the bill on state security grants excessive power to the military and the government in the event of perceived threats to the state. Parliament Watch Indonesia (Parwi) chairman Kemal Roemawi urged the House of Representatives to drop the government- sponsored bill, which will be deliberated next month. Roemawi contended the bill ran counter to principles of democracy and reform.

Police snap to it with cases against magazines

Police snap to it with cases against magazines JAKARTA (JP): Unlike work on other pressing cases, such as corruption, the National Police on Wednesday announced they had completed dossiers on Matra and Popular magazines in just a matter of weeks. The magazines have had indecency charges leveled against them. Col.

Time for 'forgive and forget', Thai WTO candidate says

Time for 'forgive and forget', Thai WTO candidate says BANGKOK (AP): With a deal all but done to share power with his rival to lead the World Trade Organization, Thai candidate Supachai Panitchpakdi said Wednesday it was time to leave behind the bitter race and cooperate for the future. "I think we should forgive and forget," Supachai told The Associated Press.