Indonesian Political, Business & Finance News

Archive: 1 September 1999

55 articles found

Foreign oil firm agrees to new revenue distribution policy

Foreign oil firm agrees to new revenue distribution policyBy A. Junaidi JAKARTA (JP): An Argentina-based oil mining company operating on Pabelokan Island in the Pulau Seribu (Thousand Islands) marine resort area said it would support and comply with the city administration's policy on share...

Indonesia is a friend of Australia's, not an enemy

Indonesia is a friend of Australia's, not an enemy This article is based on a farewell speech by Indonesian Ambassador to Australia S. Wiryono at the 1999 Merdeka Luncheon, organized jointly by the Australia Indonesia Business Council (AIBC), New South Wales branch, and the Consul General of the...

Most Asian monies close stronger

Most Asian monies close stronger HONG KONG (Dow Jones): The majority of Asian currencies ended local trading hours stronger against the U.S. dollar Tuesday, supported by the resilience of the yen.The Thai currency, however, lost ground, as interbank dealers attempted to take advantage of a clutch...

Government proposes names for antimonopoly commission

Government proposes names for antimonopoly commission JAKARTA (JP): Minister of Industry and Trade Rahardi Ramelan said on Tuesday that the government has nominated 25 names to become members of the independent supervisory commission which will oversee the implementation of the newly introduced...

Mahathir on firm ground a year after Anwar's ouster

Mahathir on firm ground a year after Anwar's ousterBy M. Jegathesan KUALA LUMPUR (AFP): Almost one year after sacking his heir apparent and sparking Malaysia's biggest anti-government protests in decades, both supporters and opponents say Prime Minister Mahathir Mohamad's position in his ruling...

Change becomes daily phenomenon

Change becomes daily phenomenon I read with interest the article Toward a true unitary nation by Mr. Harkiman Racheman in The Jakarta Post, Aug. 3, 1999 and would like to comment.* It has never crossed my mind to "ban all Chinese culture in Indonesia" as alleged in the article.

Lifters groomed for world c'ship

Lifters groomed for world c'ship JAKARTA (JP): The Indonesian Weightlifting, Powerlifting and Bodybuilding Association (PABBSI) is training four female and two male lifters for the World Weightlifting Championship in Athens, Greece, in November.

World applauds Indonesia for peaceful East Timor ballot

World applauds Indonesia for peaceful East Timor ballot JAKARTA (JP): Praise for the direct ballot in East Timor, in which 98 percent of registered East Timorese voters took part, continued to flow in on Tuesday, amid concerns over the death of a local United Nations worker.

People's part in drug raids hailed

People's part in drug raids hailed JAKARTA (JP): Governor Sutiyoso praised on Tuesday the involvement of Jakartans, including housewives, on recent police raids against drug traffickers and consumers.Sutiyoso said the role of family members in eliminating drug trafficking in the city was important.

AriaWest, Siemens tie up

AriaWest, Siemens tie up JAKARTA (JP): AriaWest International, the exclusive contract- sharing partner of state telecommunications firm PT Telkom for West Java, has signed an agreement with Siemens Indonesia to build 62,962 new line units in West Java.AriaWest's president John G.

The New Order economy as seen from the present

The New Order economy as seen from the presentBy Emil Salim The following article is based on a paper presented at a recent conference on Indonesian modern economic history with the theme "Crisis and Continuity: Indonesian Economy in the 20th century" organized by the Forum on the Economic History...

Laid-off BNI workers agree to $4.2m compensation offer

Laid-off BNI workers agree to $4.2m compensation offer JAKARTA (JP): After a series of meetings with Bank Negara Indonesia (BNI), 438 laid-off workers of the state bank accepted on Tuesday compensation packages totaling Rp 32 billion (US$4.2 million).

Indonesia looks to benefit by China's absence from Sanyo Open

Indonesia looks to benefit by China's absence from Sanyo OpenBy Primastuti Handayani DENPASAR, Bali (JP): The Badminton Association of Indonesia (PBSI) deputy athletes development officer Hadi Nazri expressed hope that Indonesian shuttlers in the women's singles and doubles and mixed doubles could...

Armed men patrol streets in Dili

Armed men patrol streets in Dili DILI, East Timor (JP): Tension returned to East Timor on Tuesday, one day after the peaceful vote on the territory's future, while reconciliation talks between proindependence and prointegration factions remained uncertain.

Making sense of the Bank Bali scandal

Making sense of the Bank Bali scandalBy Christopher Lingle HONG KONG (JP): The importance of public and international reaction to the Bank Bali scandal should not be underestimated. Domestic market stability and reliable government bodies are crucial components for Indonesia's recovery from the...

Finance scheme causes riot

Finance scheme causes riot MEDAN, North Sumatra: Police fired warning shots and beat up protesters in North Sumatra's capital on Tuesday after riots broke out over a bogus get-rich-quick financial scheme, Reuters reported.

NU corrects Gus Dur's statement on Megawati

NU corrects Gus Dur's statement on Megawati SURABAYA (JP): Nahdlatul Ulama (NU) executives raced on Tuesday to refute media reports that chairman Abdurrahman Wahid prohibited its leaders and members from voicing support for presidential candidate Megawati Soekarnoputri.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on August 31, 1999: Buying Selling Rp Rp U.S. dollar 1 7,527.00 7,603.00Australian dollar 1 4,797.71 4,849.95Austrian schilling 1 573.70 580.05Belgian franc 1 195.70 197.86Brunei dollar 1 4,467.59 4,515.38Canadian dollar 1 5,041.53 5,094.

MPR agrees to summon Habibie

MPR agrees to summon Habibie JAKARTA (JP): Indonesia's highest law-making body, the People's Consultative Assembly (MPR), decided on Tuesday to wait for its next scheduled session to summon President B.J. Habibie to present his account of the June 7 general election.

Djafar urged to quit

Djafar urged to quit JAKARTA (JP): Some 50 supporters of the United Development Party (PPP) staged a rally in front of the city council building on Tuesday to demand newly installed party councilor Djafar Badjeber resign for endorsing gambling in the city.

Bourse to get electronic settlement system

Bourse to get electronic settlement system JAKARTA (JP): The Indonesian Central Securities Depository (KSEI) will introduce electronic settlement operations in October to boost efficiency amid the significant increase in volume of banking shares, its president said on Tuesday.

House delays hearing on Bank Bali scandal

House delays hearing on Bank Bali scandal JAKARTA (JP): The House of Representatives made a surprise decision on Tuesday to delay for another week a scheduled public hearing with the country's banking authorities over the disclosure of the high-profile Bank Bali scandal.

Debts, proceeds from oil

Debts, proceeds from oil Our high-ranking state officials have secured from the Consultative Group on Indonesia (CGI) fresh loans worth a total of US$5.9 billion. These loans will be enough to cover the deficit in our 2000-2001 budget.

Governor braves threats, rules out bus fare hike

Governor braves threats, rules out bus fare hike JAKARTA (JP): Despite repeated threats of a massive strike by bus drivers, Governor Sutiyoso confirmed on Tuesday that the city administration would not raise bus fares until city council issued a new ruling on fare hikes.

Final House seat allocation set for Wednesday

Final House seat allocation set for Wednesday JAKARTA (JP): The National Election Committee (PPI) is scheduled to announce on Wednesday the final allocation of the 500 House of Representatives seats from the results of the June 7 polls.Committee chairman Jakob Tobing said the body missed the Aug.

German investments expected to start recovering next year

German investments expected to start recovering next year JAKARTA (JP): Direct investment by German corporations in Indonesia, which plunged over the past two years because of the economic crisis, will begin to recover next year, a German Embassy official said on Tuesday.

Only trained doctors may prescribe Viagra

Only trained doctors may prescribe ViagraBy Jules Bell JAKARTA (JP): As Austin Powers the star of his self-titled box-office hit would say: Viagra keeps you swinging, baby! Medically, it would have to be said the super-stud spy is "right- on", and that is good news for an estimated six million...

President opens new arrival terminal for migrant workers

President opens new arrival terminal for migrant workers JAKARTA (JP): "Welcome home to the heroes of foreign exchange," read a banner as President B.J. Habibie inaugurated Terminal Three at Soekarno-Hatta International Airport on Tuesday.

Marsinah case may reopen: Expert

Marsinah case may reopen: Expert JAKARTA (JP): The case of a woman laborer allegedly murdered by military officers in 1993 may be reopened if new evidence comes out in an ongoing investigation, criminal law expert Loebby Loqman said on Monday.

NGO bemoans poor public understanding of aid process

NGO bemoans poor public understanding of aid process JAKARTA (JP): An NGO official said on Tuesday that the general public's misunderstanding of fund disbursement was the biggest obstacle for the organization to properly implement its community recovery program.

Thai woman caught smuggling heroin

Thai woman caught smuggling heroin JAKARTA (JP): Customs officers at Jakarta's Soekarno-Hatta International Airport arrested a 28-year-old Thai woman for attempting to smuggle 1.75 kilograms of pure heroin into the country on Tuesday.

Strikes continue over Aceh military command

Strikes continue over Aceh military command JAKARTA (JP): Dozens of Aceh students picketed the building of the local legislature for the second day, protesting the reestablishment of the Iskandar Muda Military command despite the government's announcement that the plans were delayed.

Container terminal in Bitung

Container terminal in Bitung JAKARTA (JP): State-owned seaport operator PT Pelindo IV said on Tuesday it expected to complete construction of its container terminal at Bitung port in North Sulawesi by 2003.

After the ballot

After the ballot Though it may sound rather absurd to some people given the momentousness of the event, not many Indonesians -- possibly not even President B.J. Habibie who set the process in motion -- may be aware of the full ramifications of Monday's UN-supervised self-determination ballot in...

Indocement to launch rights issue

Indocement to launch rights issue JAKARTA (JP): Publicly listed cementmaker PT Indocement Tunggal Prakarsa will launch a rights issue to strengthen its capital structure.Indocement corporate secretary Ria Sjahroni Sereh said the rights issue would also be part of the cement producers's debt...

Activists say charity takes its toll on people's mentality

Activists say charity takes its toll on people's mentality JAKARTA (JP): Community activists said they find it hard to switch people's mentality from being recipients of charity to self-help participants, and blamed corruption under the previous government for their attitudes.

Bank Bali fiasco: Tip of the iceberg

Bank Bali fiasco: Tip of the icebergBy Sidesh Kaul JAKARTA (JP): In the wake of the Bank Bali scandal, pundits at the International Monetary Fund (IMF) and the World Bank feel that a "full and transparent" investigation of the issue could set things right and should be a precondition for further...

Major national banks report massive losses

Major national banks report massive losses JAKARTA (JP): Indonesia's major banks reported on Tuesday massive losses during the first semester of this year due to a widening negative interest spread and rising bad loan provisions.Bank Niaga said it suffered Rp 4.

PBSI wants IBF to warn China and South Korea

PBSI wants IBF to warn China and South Korea DENPASAR, Bali (JP): The Badminton Association of Indonesia (PBSI) plans to petition the International Badminton Federation (IBF) to take steps on certain countries' absences in the US$150,000 Sanyo Indonesia Open.

Hike in pro-XL airtime rate

Hike in pro-XL airtime rate JAKARTA (JP): Global System for Mobile (GSM) telecommunications cellular operator Excelcomindo announced on Tuesday an average 15 percent to 20 percent increase in the airtime rate for the pro-XL prepaid billing subscription service.

After tests, Indosat says it is ready for millennium bug

After tests, Indosat says it is ready for millennium bug JAKARTA (JP): Publicly listed state-owned telecommunications company PT Indosat said on Tuesday it was prepared for the millennium bug.Indosat general manager for planning and engineering Djoko Prajitno said the company announced its...

Crowds attack police area

Crowds attack police area BANDUNG: A police residential area in Lembang, 25 kilometers north of Bandung, was attacked by residents on Monday night. The incident was sparked by a fight during a kampong soccer match involving police.

Estrada may bow to protests over constitution plan

Estrada may bow to protests over constitution plan MANILA (Agencies): Philippine President Joseph Estrada is willing to drop his controversial plan to change the constitution if an advisory body he has created decides there is no need to amend it, a senior official said on Tuesday.

Taiwan conquest could be counterproductive

Taiwan conquest could be counterproductive This is the second of several articles on the deteriorating security situation in East Asia, The Jakarta Post's Asia correspondent Harvey Stockwin examines the implications of the hints coming from Beijing that it may take military action against Taiwan's...

Hendra's lawyers fight extradition

Hendra's lawyers fight extradition JAKARTA (JP): Lawyers of fugitive banker Hendra Rahardja asked a Sydney court on Tuesday not to meet Jakarta's call for the defendant's extradition, citing a strong anti-Chinese sentiment among indigenous Indonesians, Antara reported.

Betawi leaders call for new cultural village

Betawi leaders call for new cultural village JAKARTA (JP): Senior figures of Jakarta's native Betawi ethnic group called on the city administration on Tuesday to soon realize a plan to develop a 5.4-hectare Betawi settlement area in Situ Babakan, Srengseng Sawah subdistrict, South Jakarta.

Security bill needs public aspiration

Security bill needs public aspiration JAKARTA (JP): Experts and the House of Representatives (DPR) agreed here on Tuesday of the need to accommodate public aspiration and revise the controversial, government-sponsored bill on state security, which some observers have called oppressive.

Protests mar council ceremony

Protests mar council ceremony TANGERANG (JP): Noisy protests staged by three different groups marred the swearing-in ceremony of the 45 newly installed legislators for the Tangerang council on Tuesday.The situation was tense particularly when some of the protesters forcibly tried to get into the...

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 31, 1999: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 475 0 0 AHAP Insurance 525 0 0 Alakasa Industrindo 275 0 0 Alter Abadi 250 0 5,000 Alumindo Light Metal...

'Banana republic' slur irks Manila

'Banana republic' slur irks Manila DUBAI (AFP): A Dubai hotel has apologized to the Philippines' ambassador to the Emirates after it named one of its new restaurants "The Banana Republic Filipino Club," the Gulf News daily said on Tuesday.

Indorayon wants to be audited now

Indorayon wants to be audited now JAKARTA (JP): Publicly listed pulp and rayon fiber maker PT Inti Indorayon Utama urged the government on Tuesday to quickly appoint an independent audit team to determine whether the company's mills were hazardous to the surrounding environment.

Ericsson touts new cell phone

Ericsson touts new cell phone JAKARTA (JP): Swedish cellular phonemaker Ericsson Indonesia launched on Tuesday its latest cell phone model, the T28s.Company director for consumer products Susanto Sosilo said the new dual band cellular phone was designed for those who were willing to pay "for a...

Oil firm based on Pabelokan Island

Oil firm based on Pabelokan Island JAKARTA (JP): Pabelokan Island, the home base of Argentinean oil firm YPF-Maxus since 1984, is located at the northwestern tip of the chain of 106 islands known as Pulau Seribu (Thousand Islands).

Presidential qualifications

Presidential qualificationsFrom KompasThere is one president among the Association of Southeast Asian Nations (ASEAN) heads of state who does not hold a degree. He is Philippine president Joseph Estrada.

Malaysia may reconsider plan to pull out of INRO

Malaysia may reconsider plan to pull out of INRO JAKARTA (JP): The Malaysian government has promised to review its earlier decision to pull out of the International Natural Rubber Organization (INRO), an Indonesian minister said here on Tuesday.