Indonesian Political, Business & Finance News

Archive: 24 October 2000

55 articles found

Emerging Asian bond spreads wider

Emerging Asian bond spreads wider HONG KONG (Reuters): Asian benchmark bond spreads were broadly wider on Monday as investors opted for safe-haven U.S. Treasuries over emerging market volatility fueled by gyrations on global equity markets. "The key question is whether investors believe that a bottom was established last week," Raja Visweswaran, head of Asia securities research at Bank of America, said.

The Tapatt survey on the Estrada scandal

The Tapatt survey on the Estrada scandal MANILA: Tapatt Foundation is an organization of civic-minded citizens "saddened to see our country being ravaged by the greed of many of those who are supposed to lead it." It is a non-stock, non-profit and non-partisan corporation registered with the Securities and Exchange Commission. It is not subsidized by the government or any politician or political party. Chaired by Antonio C.

Impeachment case against Estrada set in motion

Impeachment case against Estrada set in motion MANILA (Reuters): The Philippine lower House on Monday set in motion an impeachment case against President Joseph Estrada and leaders promised an impartial hearing of charges that he took bribes from illegal gambling syndicates. Estrada told local officials he was ready to confront the accusations against him and added: "Many baseless charges have been made against me.

A tragic year under Abdurrahman Wahid's rule

A tragic year under Abdurrahman Wahid's rule Political analyst J. Soedjati Djiwandono was one of those who rejoiced at the new presidential leadership last October, but who now feels compelled to give a brutally honest review of the presidency. JAKARTA (JP): President Sukarno began to lose his credibility and authority in the eyes of his people after 20 years of his presidency, primarily because of his stubborn defense of the Indonesian Communist Party (PKI).

Prince Edward visits Malaysia

Prince Edward visits Malaysia KUALA LUMPUR (AFP): Prince Edward urged British firms to make extra efforts to transfer skills and technology to Malaysians as he and his wife Sophie started a three-day visit to the country on Monday. In their first engagement, the Earl and Countess of Wessex toured the British Malaysian Institute on the outskirts of the capital. The prince called in a speech for greater technological cooperation, especially in Malaysia's hi-tech Multimedia Super Corridor.

MAS, KLM to expand codesharing pact

MAS, KLM to expand codesharing pact KUALA LUMPUR (AFX-ASIA): Malaysian Airline System Bhd and KLM Royal Dutch Airlines will be expanding their existing codesharing agreement with the new arrangement to take effect from the start of the winter schedule commencing Oct 29, 2000, a Malaysia Airlines statement said. Currently, Malaysia Airlines operates a daily Kuala Lumpur- Amsterdam service while KLM operates four times weekly on the Amsterdam-Kuala Lumpur-Manila route.

Malaysia palm oil closes higher

Malaysia palm oil closes higher KUALA LUMPUR (Reuters): Malaysian palm oil futures closed higher on Monday, helped by continued strength in physical prices, traders said. The benchmark third-month January futures KPOF1] contract ended up eight ringgit at 849 ringgit (US$223.42) a ton after trading as high as 853 ringgit. "The cash market is firmer and this is pushing up futures prices. Charts are also supportive," said one trader.

Park maintenance to be handed over to private firms

Park maintenance to be handed over to private firms JAKARTA (JP): The City Administration's plan to privatize the maintenance of parks across the capital has so far received responses from two parties, which have expressed their enthusiasm to take care of the vast park at the Semanggi cloverleaf in the heart of the city. Speaking on Monday before members of the City Council Commission D on development affairs, City Park Agency head Dadang Ruskandar identified the two private firms as PT.

Rupiah ends lower in moderate trading on dollar demand

Rupiah ends lower in moderate trading on dollar demand JAKARTA (Dow Jones): The Indonesian rupiah closed lower Monday in moderate trading on local company demand for the dollar, traders said. The dollar closed at Rp 8,970 rupiah, down from Rp 8,890 late Friday. In addition to regional dollar strength, traders said concerns over Indonesia's huge public debt burden pushed down the rupiah.

SIA sign deal with Region

SIA sign deal with Region SINGAPORE (AFX-ASIA): Singapore Airlines Ltd unit SIA Engineering Ltd said it has secured a 5-year aircraft maintenance contract worth S$40 million from Region Air. Region Air leases aircraft to Pacific Airlines of Vietnam and Air Wagon International of Indonesia. Its fleet consists of A310- 300 and A300-600 aircraft. The contract will cover the maintenance of airframes and overhaul of components for four A310/A300s and other engineering support services.

Palestinian Ambassador row settled: Minister

Palestinian Ambassador row settled: Minister JAKARTA (JP): The government said on Monday that the row between Jakarta and Palestinian Ambassador to Indonesia Ribhi Awad over his purported criticism of the government's stance over the Middle East crisis was considered settled. Speaking to reporters after a meeting with the Palestinian envoy, Foreign Minister Alwi Shihab said the government would not pursue its intention of seeking Awad's replacement.

We must improve the city's image: Governor

We must improve the city's image: Governor JAKARTA (JP): Governor Sutiyoso urged residents of slum areas across the capital to help maintain security in Jakarta to restore the image of the city which was tarnished by the May 1998 riots and several violent incidents that followed. "During my official trips abroad, people always ask me whether my citizens still like looting or not.

Latest violence in Aceh claims eight more lives

Latest violence in Aceh claims eight more lives BANDA ACEH, Aceh (JP): The latest violence in restive Aceh province claimed eight more lives over the past three days, including four alleged members of the Free Aceh Movement (GAM) separatist rebel group, police and activists said on Monday. East Aceh Police Precinct chief Supt. Abdullah Hayati said the four alleged rebels were shot in a gunfight in Payabili village, Bireum Bayeun district on Sunday afternoon.

Government to look further at Bangka and Belitung

Government to look further at Bangka and Belitung JAKARTA (JP): The government and the House agreed on Monday to delay for a month endorsement of the bill on Bangka-Belitung province to allow a government team to check the islands' preparedness for the new status. Panda Nababan, who chairs the House's special committee deliberating the bill, said it would be better for all sides to give the government time to verify the islands' final preparations before the bill is endorsed.

Saving Bali's pristine reef through reef check program

Saving Bali's pristine reef through reef check program By I Wayan Juniartha DENPASAR, Bali (JP): A growing involvement of amateur divers and dive operators highlighted the Reef Check Bali 2000, an annual event aimed at monitoring the present condition of Bali's most precious coral reef. Organized by the World Wide Fund for Nature (WWF) Wallacea Bioregion-Bali, this's year event attracted voluntary participation of at least 35 amateur divers who came from every walk of life.

Traffic deaths up in Vietnam

Traffic deaths up in Vietnam HANOI (AP): Traffic accidents in Vietnam killed 5,865 people in the first nine months of this year, a 11.6 percent jump from the same period last year, an official of the National Transport Safety Committee said on Monday. A total of 17,191 traffic accidents were reported nationwide in the nine months through September, an increase of 4.6 percent from the same period last year, the official said on the customary condition of anonymity.

School final exam trial takes unexpected turn

School final exam trial takes unexpected turn JAKARTA (JP): The trial on the leakage of national high school final examinations (Ebtanas) master copies took an unexpected turn on Monday, when a witness denied claims that her jealousy of a colleague had led her to order defendant Dwi Santoso to steal the copies on March 30, this year. "What Dwi has told (the police) is not true.

Anti-Gus Dur protesters start rallying on streets

Anti-Gus Dur protesters start rallying on streets JAKARTA (JP): Some 800 people from seven Islamic organizations staged a rally in front of the National Police Headquarters on Monday, urging the police to immediately solve various high- profile crimes, particularly those allegedly related to President Abdurrahman Wahid.

RI cracks down on militia, but danger remains, UN says

RI cracks down on militia, but danger remains, UN says SYDNEY, Australia (AFP): Squads of up to 30 militia fighters have slipped across the border into East Timor to conduct long- range patrols, threatening the stability of the territory, a senior UN official warned on Monday.

Government approves $6b refinery projects

Government approves $6b refinery projects JAKARTA (JP): The government has approved two oil refinery projects valued at US$6 billion to be built by a joint venture in Pare-Pare, South Sulawesi, and Batam. The refineries will be built by a joint venture of investors from Saudi Arabia, China and Indonesia.

KL to borrow assault boats from Sweden

KL to borrow assault boats from Sweden KUALA LUMPUR (AP): Malaysia plans to borrow four assault boats from Sweden to bolster defense in Sabah state on the northeastern coast of Borneo island, its defense minister said on Monday. Arrangements to take delivery of the boats were being discussed with Sweden, Minister of Defense Najib Tun Razak was quoted as saying by national news agency Bernama. "Before next year we can have four additional boats," he said.

TV programs

TV programs Today TVRI 5:00 a.m. Religious Teachings 6:00 News 8:00 Children's Program 8:30 Music 9:00 Interval 12:00 p.m. Interval 2:00 News 2:30 Children's Program 3:00 Music 4:00 News 4:30 Talk Show 5:30 TVRI News 6:00 Sports 6:30 Music 7:00 Evening News 7:30 Talk Show 8:00 Ascension Day of Prophet Muhammad 9:00 News 9:30 TV Drama 10:30 News Program 2 5:30 p.m. News 6:00 Music 7:00 Evening News 7:30 TV Drama 8:00 City News TPI 5:30 a.m.

Indonesian people told to help save coral reefs

Indonesian people told to help save coral reefs DENPASAR, Bali (JP): The 9th International Symposium on Coral Reefs began on Monday with a call to save the nation's 85,000 square kilometers of coral reefs of which 70 percent are already badly damaged. "Indonesian people are blind about marine issues. We have been developing the country's economy without preserving the environment.

S'pore tourist arrivals up

S'pore tourist arrivals up SINGAPORE (AP): Tourist arrivals in Singapore rose by 9.8 percent in September from a year earlier, officials said Monday. Arrivals in September totaled 612,380, the Singapore Tourism Board said. Tourism is an important part of the economy of Singapore, a tiny, wealthy island nation with 3.2 million people and no natural resources. Most visitors in September came from Indonesia, up 9.8 percent on the year to 94,512.

Local exhibition industry lacks recognition: Iqbal

Local exhibition industry lacks recognition: Iqbal JAKARTA (JP): The convention and exhibition industry in Indonesia failed to do as well as was expected as the industry still lacked networking with other businesses, an executive said on Monday.

Government sees foreign debt dropping

Government sees foreign debt dropping JAKARTA (JP): Finance minister Prijadi Praptosuhardjo said on Monday the ratio of the government's total foreign debt to gross domestic product (GDP) was projected to drop to 65 percent in 2003 from the current 99 percent level. Prijadi said the government would gradually lower the amount of foreign debt by paying up the loan as scheduled as the economic condition improves.

2.6 million civil servants to be transferred: Minister

2.6 million civil servants to be transferred: Minister BANDUNG (JP): Before the law on regional autonomy is implemented in January next year, more than 2.6 of the 4.2 million central government employees will be transferred to provincial administrations, a minister said on Monday. "It's not really difficult because we will only need to change their status from central government employees to provincial administration employees," State Minister of Administrative Reform Ryaas Rasyid said here.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Oct. 23, 2000: Shares Close Change Trading Volume --------------------------------------------------------------- Ades Alfindo 1,900 -100 178,000 Adindo Foresta Indonesia 110 -5 503,500 Alakasa Industrindo 435 0 0 Alfa Retailindo 800 -25 3,000 Alter Abadi 190 -10 24,500 Alumindo Light Metal 955 0 0 Aneka Kimia Raya 270 0 42,500 Aneka Tambang (Persero) 1,050 25 1,973,000 Anwar Sierad 300 0 0 APAC Centertex Corp.

U.S. Embassy denies arrested American is a spy

U.S. Embassy denies arrested American is a spy JAKARTA (JP): The United States Embassy denied claims by Indonesian Minister of Defense Mahfud MD that an American "infiltrator" apprehended in Irian Jaya was a spy, and warned that the treatment of the American "tourist" would force other prospective visitors to reconsider travel plans to the country.

IFC invests $10 million into the listed Bank NISP

IFC invests $10 million into the listed Bank NISP JAKARTA (JP): The International Finance Corporation (IFC), a financial arm of the World Bank, said on Monday it had invested US$10 million in equity participation at the publicly listed Bank NISP. IFC regional representative for Indonesia Amitava Banerjee said the investment showed IFC's confidence in the battered banking sector of Indonesia.

Where to go in Bandung:

Where to go in Bandung: Exhibitions * Fine Arts Exhibition, Liyan by Nindityo Adipurnomo, at Selasar Seni Sunaryo, Jl. Bukit Pakar Timur no. 100 (Phone: 022 2507939), until Dec. 3. * Handycrafts, Design Interior Exhibition by Kalingga Gallery, at Grand Hotel Preanger Bandung, Jl. Asia Afrika No. 81 (Phone: 022 431631), 9 a.m. to 9 p.m., until Oct. 31. Performances * Poetry Reading, produced by Forum Sastra Bandung, at Gedung Kesenian Rumentang Siang, Jl.

Again on circumcision

Again on circumcision I am writing in reply to Melly R's response to my earlier letter regarding female circumcision. Melly R, please accept my apologies for disturbing your senses with my supposed arrogance in daring to criticize the plight of children. Firstly, I am not an Australian as you have wrongly guessed, so your anti-Australian historical lecture fell on deaf ears.

Sjamsul, Hasan named suspects in loans abuse

Sjamsul, Hasan named suspects in loans abuse JAKARTA (JP): The Attorney General's Office announced on Monday that four commercial bank owners were suspected of misusing billions of US dollars equivalent in bank liquidity supports.

Imprecise use of words

Imprecise use of words We would like to comment on the usage of the word detained and refused in your article, "Hawk-100 jet fighter crashes in W. Kalimantan" of Oct. 20, page 2, in the sentence "...three units of jet engines detained in South Korea..." and "...South Korea and New Zealand had refused to repair the jet engines..." We have received a confirmation from the Indonesian Air Force and Korean Aerospace Industry (KAI) saying that the correct facts are as follows: 1.

Driver killed over Rp 2,000 dispute

Driver killed over Rp 2,000 dispute TANGERANG (JP): A Prestasi taxi driver was mobbed and killed on Sunday evening by a gang of hoodlums over a Rp 2000 dispute in Serpong, an officer said. Police subprecinct chief First Insp. Widji Listianto identified the victim as Rizal, 31, a resident of Tanjung Gedong, West Jakarta, and the suspects, all still at large, as those normally demanding money from taxi drivers waiting for passengers in the area.

Repatriation of East Timor refugees observed

Repatriation of East Timor refugees observed JAKARTA (JP): Visiting British Deputy Foreign Minister John Battle called on the government here on Monday to speed up the repatriation of some 130,000 East Timorese refugees in West Timor to the former Indonesian province. "The pace needs to be stepped up," Battle told a small group of journalists at the residence of British Ambassador to Jakarta, Richard Gozney, in Central Jakarta.

Focus on education

Focus on education How important is education for the future of Indonesia? The question is almost absurd in its folly. After all, everybody agrees, and plain common sense tells us, that education is one of the main pillars on which a modern society rests.

Pipeline protesters threaten police

Pipeline protesters threaten police BANGKOK (AFP): Protesters in southern Thailand demonstrating against a controversial Thai-Malaysian gas pipeline are threatening to burn down a police station if authorities do not investigate claims of harassment, local media reported on Monday.

Questionable compassion

Questionable compassion Eurico Guterres was about 18 years old when he was imprisoned by the Indonesian military for his participation in a proindependence movement. During his time in jail, he was obviously not tortured but surely in some way brainwashed because he emerged as a glowing fanatic admirer of the prointegration militias.

Recruitment adverts

Recruitment adverts From Media Indonesia A newspaper advertisement recently promised a commission fee of Rp 1.2 million for anybody willing to go to villages and recruit potential migrant workers, and this fee would be deposited at PT BL, a labor exporting company.

Xerox to sell Fuji shares

Xerox to sell Fuji shares TOKYO (AFP): Xerox Corp. will sell shares in Fuji Xerox Co. Ltd. to make up for a decline in sales in Europe and the United States, a report said Monday. The US office supplies giant will announce its plan Tuesday to sell all or part of its stake in Fuji Xerox, a 50-50 office equipment joint venture between Fuji Photo Film Co. Ltd. and Xerox, the Nihon Keizai Shimbun said.

House to set criteria of KPU membership

House to set criteria of KPU membership JAKARTA (JP): The empowered House of Representatives played down on Monday objections raised by several non-governmental organizations on the nomination of 22 public figures to the new General Elections Commission (KPU). Deputy chairman of the House's Commission II for domestic and legal affairs Ferry Mursyidan Baldan told reporters, after receiving the group of NGO activists, the legislative body would set its own criteria for selecting the KPU members.

KL trims foreign labor

KL trims foreign labor KUALA LUMPUR (AFP): Malaysia has reduced the intake of foreign workers to 150,000 this year from 320,000 last year to curb an outflow of the local currency, a senior official said Monday. Foreign workers remit some 500 million ringgit (US$132 million) every year but this was unavoidable as there was no control over salary repatriation, said finance ministry parliamentary secretary Hashim Ismail.

Net still unpopular for environmental news

Net still unpopular for environmental news By Stevie Emilia JAKARTA (JP): Whenever you are seeking information on specific issues like which animals are on the endangered species list, or if you just want to learn more about conservation, the Internet is generally the easiest place to find what you are looking for. Since the introduction of the Internet, many environmental organizations have used this tool to disseminate information about ecological issues.

Opposition may get victory in Ivory Coast vote

Opposition may get victory in Ivory Coast vote ABIDJAN (Agencies): Early returns Monday showed an opposition candidate in a close race with the junta leader in Ivory Coast's elections, billed as a return to civilian government 10 months after a military coup. Opposition leader Laurent Gbagbo predicted victory over Gen. Robert Guei, although the votes counted so far from Sunday's election came from mainly rural areas and small towns.

Stale bread kills man

Stale bread kills man BANDUNG, West Java: A man died in extreme pain after eating some stale bread from a jar in his office, situated on Jl. Abdurahman Saleh No. 50, on Sunday night. The victim was identified as Jumadi, 29, who worked as a warehouse security guard for a marketing firm, PT Dahlia Dewantara, on Jl. Abdurahman Saleh. Jumadi's colleague, Soim, 28, said the incident happened at 9 p.m. on Sunday, after both he and Jumadi had returned from dinner.

Former officials to be grilled over tragedy

Former officials to be grilled over tragedy JAKARTA (JP): The Military Police in cooperation with the National Police will question a number of former government officials under the then coordinating minister for political affairs and security in connection with the forcible takeover of the Indonesian Democratic Party's headquarters in 1996, an officer said on Monday. Maj. Gen.

Sjahrir says Gus Dur must resign

Sjahrir says Gus Dur must resign JAKARTA (JP): President Abdurrahman Wahid should immediately step down because he has failed to implement the various reform programs mandated by the people, noted economist Sjahrir said on Monday. Sjahrir said that Gus Dur, as Abdurrahman is called, had, after one year in office, failed to foster democracy, curb corruption, create legal certainty and take legal action against people responsible for the abduction and killing of students after one year in office.

NOAA statelite station opens

NOAA statelite station opens DENPASAR, Bali: The Ministry of Sea Exploration and Fisheries along with the BPPT and Superintending Company of Indonesia (Sucofindo) launched on Monday the country's first earth satellite receiver station for the National Oceanic Atmospheric Administration (NOAA).

Four killed in train/truck accident

Four killed in train/truck accident JAKARTA (JP): Four people were killed and two were injured on Monday when a Parahyangan passenger train traveling from Jakarta to Bandung crashed into a truck at a railway crossing near the Bekasi train station, east of here. Reports quoted officials of the state run train company PT KAI and police as saying that a signalman at the site apparently raised the level crossing gates too soon, not realizing that the train was about to pass.

Amex and BII tie up

Amex and BII tie up JAKARTA (JP): Credit card issuer American Express (Amex) and Bank Internasional Indonesia (BII) announced on Monday they were cooperating to provide Amex clients access to BII's ATM services. In a joint statement, Amex and BII said they had recently signed a memorandum of understanding which would allow Amex clients to pay their bills and withdraw cash at BII's 800 ATMs across Indonesia.

Rupiah Rates Oct. 23

Rupiah Rates Oct. 23 Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Aid from donors vital for deficit

Aid from donors vital for deficit By Suresh Kumar SINGAPORE (JP): Let's make no mistake about it. Indonesia needs the US$4.8 billion aid granted by the Consultative Group on Indonesia (CGI). The doubts that have been raised over this huge debt are understandable. But these queries are themselves questionable. Here is why. The debt is crucial for the deficit. Essentially, the government has secured funds that would help finance a huge portion of next year's operations.

Europe shuttlers to join GP final

Europe shuttlers to join GP final JAKARTA (JP): The International Badminton Federation (IBF) has decided to allow eligible European shuttlers to compete in the Badminton Grand Prix final next February although they failed to take part in three tournaments outside their continent.

Court orders police to release pro-Indonesia militia leader

Court orders police to release pro-Indonesia militia leader JAKARTA (JP): The South Jakarta District Court ordered the police on Monday to release pro-Indonesia East Timor militia leader Eurico Guterres, saying that he was a victim of a wrongful arrest. Eurico, who is being charged with inciting others to commit crimes, had filed for a pretrial hearing calling into question the circumstances of his arrest on Oct. 4 at a hotel in Jakarta.