Indonesian Political, Business & Finance News

Archive: 15 March 2000

55 articles found

China warns Taiwan over election results

China warns Taiwan over election results BEIJING (AFP): China said on Tuesday it was content to see the people of Taiwan vote in "local elections", but it warned it would take firm action if it did not like the outcome of the weekend polls.

Travel firm Sona Topas reschedules $26.5m loan

Travel firm Sona Topas reschedules $26.5m loan JAKARTA (JP): Publicly listed travel company PT Sona Topas Tourism Industry secured on Tuesday a six-year extension period for US$26.5 million in matured loans for its subsidiary PT Inti Dufree Promosindo (IDP).

No paper

No paper In observance of Idul Adha (the Islamic Day of Sacrifice), The Jakarta Post will not be published on Thursday. The Post will appear again on Friday. -- Publisher

TNI out to uphold border security: Kiki

TNI out to uphold border security: Kiki DENPASAR, Bali (JP): Chief of the Udayana Military Command Maj. Gen. Kiki Syahnakri said on Tuesday the Indonesian Military (TNI) was doing its best to maintain security along the East Timor border, including a sweep which confiscated hundreds of weapons.

Mayapada plans rights issue

Mayapada plans rights issue JAKARTA (JP): Publicly listed Bank Mayapada International will launch a rights issue in July to raise Rp 160 billion (US$21 million) for expansion programs.Mayapada chairman Tahir said the bank would open branches in Jakarta, Medan and Bandung in its expansion into the...

Keep euphoria in check

Keep euphoria in check The Indonesian business community, represented by the chairman of the Indonesian Chamber of Trade and Commerce (Kadin), Aburizal Bakrie, is complaining. In the past year, it sustained losses amounting to a total of Rp 5 trillion.

Asian currencies range-bound, won inches up on yen rise

Asian currencies range-bound, won inches up on yen rise HONG KONG (Dow Jones): Most Asian currencies remained tightly range-bound in thin trading conditions through local hours Tuesday.Only the South Korean won moved appreciably, strengthening against the dollar, despite a drop in the Seoul stock...

Indonesia eyes $2 billion from shoe exports this year

Indonesia eyes $2 billion from shoe exports this year JAKARTA (JP): Indonesia will likely earn US$2 billion from exports of shoes this year, up from $1.7 billion in 1999, thanks to improving political climate in the country, the Indonesian Footwear Association (Aprisindo) said on Tuesday.

Police no show in Petrus lawsuit

Police no show in Petrus lawsuit JAKARTA (JP): Two city police detectives failed to appear on Tuesday for the opening session of their trial for the alleged wrongful arrest of a lawyer last December.Their absence immediately raised complaints from lawyer Petrus Bala Pattyona, who filed the lawsuit,...

House commission wants special hearing on Damura

House commission wants special hearing on Damura JAKARTA (JP): The House of Representatives Commission VI for human resources and religious affairs wants to hold a special hearing soon on the fund raising program, Damura (the People's Fund for Sports), with the National Sports Council (KONI) and...

Police search for owner of painting

Police search for owner of painting JAKARTA (JP): The Police investigation of a missing "Affandi" painting has so far raised more questions than answers.The Cilandak Police station in South Jakarta said on Tuesday they had only established that the owner of the missing painting is not Nindia, the...

Man killed in train accident

Man killed in train accident JAKARTA (JP): A man was killed when the bajaj (three-wheeled motorized vehicle) he was riding in became stuck in a pothole on a railway track in Cipinang Lontar, East Jakarta, on Monday afternoon, a police officer said.Chief Sgt.

President approves reopening of old communist files

President approves reopening of old communist files JAKARTA (JP): President Abdurrahman Wahid gave the official green light on Tuesday for the public to reopen the case of the 1965 abortive coup that led to the massacre of hundreds of thousands of communists and their sympathizers.

3 U.S. sailors detained in RP

3 U.S. sailors detained in RP CEBU, Philippines (AFP): Philippine police on Tuesday filed criminal charges against three U.S. soldiers accused of assaulting a Filipino taxi driver in a case which officials say could test newly-reinforced bilateral military ties.

Deforestation a threat to wildlife

Deforestation a threat to wildlife MANADO, North Sulawesi: Continuing deforestation by local residents is posing a threat to the existence of four endangered species in the Duasudara Conservation Park in Bitung regency here.

Bank Mandiri to launch IPO in January 2001

Bank Mandiri to launch IPO in January 2001 JAKARTA (JP): State Bank Mandiri will launch an initial public offering (IPO) either at the end of this year or in January 2001 to raise about US$1.5 billion, president Robby Djohan said.

Situation still under control, police chief tells House

Situation still under control, police chief tells House JAKARTA (JP): National Police chief Lt. Gen. Rusdihardjo acknowledged on Tuesday that counterfeit cases and gun-related crime were of concern, but argued the overall situation remained satisfactory.

Where to go in Surabaya:

Where to go in Surabaya:Exhibition Puppet Exhibition at Art Deco Lobby, Hotel Majapahit, Mandarin Oriental, Jl. Tunjungan 65 (Phone: 031 5454333), March 15 to April 3.Performance * Baroque Music Concert: L'Ensembel XVIII-21, by France musicians Jean Christophe Frisch (conductor), Cyrille...

S'pore and KL trade charges

S'pore and KL trade charges SINGAPORE (AFP): Fresh verbal skirmishes have erupted between Singapore and Malaysia after both sides blamed each other for a delay in bilateral talks aimed at resolving a series of disputes.

Budget deficit to drop to 3.9% of GDP

Budget deficit to drop to 3.9% of GDP JAKARTA (JP): The deficit in the current state budget ending on March 31 is expected to shrink to 3.9 percent of gross domestic product from the earlier forecasted 6.8 percent of GDP, according to Minister of Finance Bambang Sudibyo.

TNI accused of abusing Red Cross emblem

TNI accused of abusing Red Cross emblem JAKARTA (JP): The International Committee of the Red Cross (ICRC) accused the Indonesian Military (TNI) on Tuesday of abusing the Red Cross emblem during a 1996 raid to release hostages in Irian Jaya.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on March 14, 2000: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 775 0 0 Adindo Foresta Indonesia 625 0 982,000 Alakasa Industrindo 450 -50 7,500 Alfa Retailindo 1,025...

TV today

TV todayTVRI 5:30 a.m. Religious Teachings 6:00 News 8:00 Children's Program 9:00 Music 10:00 Interval 2:00 p.m. News 2:30 Children's Program 3:00 Music 4:00 News 4:30 Indonesian Lessons 5:00 Teen Program 5:30 Sports 6:30 TVRI News 7:00 Evening News 7:30 TV Drama 8:00 Music 9:00 World News 9:35...

Gus Dur reveals coup attempt

Gus Dur reveals coup attempt JAKARTA (JP): The uneasy relationship between President Abdurrahman Wahid and the Indonesian Military (TNI) was again highlighted on Tuesday with the revelation of a coup attempt by some regional military commanders.

Lippo e-Net risks losing its business permit: Official

Lippo e-Net risks losing its business permit: Official JAKARTA (JP): Listed life insurer PT Lippo e-Net risks losing its insurance business permit if it directly handles its Internet business, a senior insurance official has warned.

Akbar backs Muladi for Supreme Court

Akbar backs Muladi for Supreme Court JAKARTA (JP): Golkar Party chairman Akbar Tandjung said on Tuesday he would like former justice minister Muladi to head the Supreme Court."We hope Pak Muladi will become one of the leaders of the Supreme Court," said Akbar, who is also the speaker of the House...

Financial troubles suspected in suicide

Financial troubles suspected in suicide JAKARTA (JP): An owner of public buses killed himself with a .22 caliber gun on Jl. Kemang Timur, South Jakarta, early on Tuesday, relatives and employees said, with family financial problems the suspected cause.

Student organizations hold free wedding service for poor

Student organizations hold free wedding service for poor JAKARTA (JP): Some 150 poor couples in West Jakarta exchanged wedding vows in front of local imams at several religious affairs offices on Wednesday, a member of the committee which organized the weddings said.

DBS raises Indonesian stake

DBS raises Indonesian stake SINGAPORE (Dow Jones): Singapore's DBS Group Holdings Ltd. said Tuesday it will raise to 99 percent its stake in PT Bank DBS Buana, a joint venture with PT Bank Buana Indonesia (P.BBI), from 85 percent currently.

Petrokimia starts NPK production in October

Petrokimia starts NPK production in October SURABAYA (JP): State-owned PT Petrokimia Gresik will begin production of a compound fertilizer in October this year, with an annual production level of about 300,000 tons, the company's president said here on Tuesday.

Central Kalimantan closed to migrants

Central Kalimantan closed to migrants PALANGKARAYA, Central Kalimantan: An official here declared the province was closed for immigrants from other provinces due to the lack of funds in the 2000 local budget.

Jury trials worth a try in RI courts

Jury trials worth a try in RI courtsBy Mark Cammack LOS ANGELES, California (JP): President Abdurrahman Wahid has recently stressed the vital importance of restoring public confidence in the administration of justice in Indonesia.

Croda opens chemical complex

Croda opens chemical complex SINGAPORE (AFP): The Singapore unit of Britain's Croda International Plc. opened here on Tuesday a S$450 million (US$29.4 million) chemicals complex.It is the largest single investment by Croda, the world's leading manufacturer of lanolin, an important ingredient in the...

PDI-P warned on money politics

PDI-P warned on money politics YOGYAKARTA (JP): With Megawati Soekarnoputri's reelection to the top post literally waiting for the gavel, calls mount for supporters of the Indonesian Democratic Party of Struggle (PDI Perjuangan) to monitor money politics involving their representatives at local...

Mahaka aims to qualify for ABC championship

Mahaka aims to qualify for ABC championship JAKARTA (JP): Mahaka Satria Muda aim to qualify for the Asian Basketball Confederation (ABC) championship by reaching the final of its prequalifying round in Kuala Lumpur next month.

Proper handling of sacrificial animals

Proper handling of sacrificial animalsFrom Media IndonesiaI am a veterinarian and wish to explain the method of handling animals for sacrifice, mainly from the aspect of the consumers' health.It is a prerequisite that sacrificial animals must be intact, healthy adults (their two incisors have...

Brimob sergeant punished

Brimob sergeant punished BANDUNG: A member of the Police Mobile Brigade (Brimob) here was sentenced to 21 days detention for his involvement in illegal ammunition and gun sales to the Free Aceh Movement (GAM), West Java Police spokesman Maj. Dade Ahmad said here on Tuesday.

Government sets up forest fire enforcement team

Government sets up forest fire enforcement team PONTIANAK, West Kalimantan (JP): Air pollution and health problems are causing concern among people in the province, with no sign of abatement in devastating forest fires on Tuesday.

Experts say laws needed for e-commerce

Experts say laws needed for e-commerce JAKARTA (JP): Experts and Internet businessmen demanded on Tuesday that local stock markets allow the listing of prospective internet start-up companies to raise cheap funds to finance their investment.

JSX suspends Texmaco firms

JSX suspends Texmaco firms JAKARTA (JP): Stock trading of companies under the Texmaco Group was suspended in the first session on Tuesday due to the transfer of the group's Rp 14.9 trillion (US$2.1 billion) debt to the Indonesian Bank Restructuring Agency (IBRA).

Conversion Rates

Conversion RatesBank Indonesia's conversion rates on March 14, 2000: Bank notes rates Buying Selling Rp Rp U.S. dollar 1 7,383.00 7,457.00Australian dollar 1 4,543.50 4,596.49Austrian schilling 1 517.76 523.23Belgian franc 1 176.61 178.48Brunei dollar 1 4,323.11 4,368.99Canadian dollar 1 5,050.

Tracking capital flows

Tracking capital flows Starting this month banks and their customers, including foreigners holding stay permits and Indonesians residing overseas, are required to prepare more detailed reports on all foreign exchange (forex) transactions in excess of US$10,000.

Education a must for women to fight AIDS

Education a must for women to fight AIDS JAKARTA (JP): A woman who rejects her husband is cursed and doomed to go to hell.That is the belief of many Indonesians. And since a woman would prefer to be noble in the eyes of God, she would be unlikely to refuse her spouse's request for intercourse,...

Wilson to sponsor RI's junior golfers

Wilson to sponsor RI's junior golfers JAKARTA (JP): International sports manufacturer Wilson plans to sponsor Indonesian junior golfers' training and competition in various tournaments, Paul Gibbons, Wilson's golf marketing director for Asia Pacific said on Tuesday.

Rates for tax payment, valid from Mar. 13 to Mar. 19

Rates for tax payment, valid from Mar. 13 to Mar. 19 U.S. dollar 1 Rp 7,370.00Austrian schilling 1 513.75Australian dollar 1 4,433.06Belgian franc 1 175.24Canadian dollar 1 5,055.91Swiss franc 1 4,396.85Deutschemark 1 3,615.94Danish krone 1 948.83French franc 1 1,077.70Poundsterling 1 11,604.

Why not renegotiate?

Why not renegotiate? I would like to thank Freeport's Mr. Bruce E. Marsh for his candid reply to my complaint about Henry Kissinger. If I may summarize my understanding of his rebuttal: Freeport has indeed dug up a mountain and dumped it (minus the minerals) into a river, because an impressive...

Soeharto's lawyer hints at prospect of questioning

Soeharto's lawyer hints at prospect of questioning JAKARTA (JP): In what seems to be a drastic turnaround of events, former president Soeharto's lawyer said his client would fully comply with the Attorney General's Office summons for questioning if an independent medical examination proved he was...

To be a modern party PDI-P faces tough challenges

To be a modern party PDI-P faces tough challenges The Indonesian Democratic Party of Struggle (PDI-P) is holding its congress at the end of this month. The Jakarta Post talked to Mochtar Buchori, a deputy chairman of the party, who is also a member of the House of Representatives, a noted columnist...

Bus drivers say new levies imposed at terminals too steep

Bus drivers say new levies imposed at terminals too steep BOGOR (JP): Public bus drivers in Baranangsiang intercity bus terminal complained on Tuesday that the 300 percent increase in terminal levies was too burdensome.

Fiat and General Motors announce an alliance

Fiat and General Motors announce an alliance TURIN (Reuters): Italy's Fiat and the world's top carmaker General Motors on Monday unveiled an alliance backed with cross- shareholdings in a bid to keep abreast of the wave of global consolidation.

IMF wants Jakarta action on debt, Bank Bali scandal

IMF wants Jakarta action on debt, Bank Bali scandal JAKARTA (Reuters): The International Monetary Fund said on Tuesday Indonesia had to act swiftly to break its private debt deadlock, and warned lending could again be halted if the key players in the Bank Bali scandal were not brought to justice.

Tempo's 2,500th shipment

Tempo's 2,500th shipment JAKARTA (JP): Publicly listed pharmaceutical and cosmetic producer PT Tempo Scan Pacific Tbk. made its 2,500th shipment in eight years on Tuesday.Three containers weighing 50 tons each were given a formal sendoff from Tempo's factory at the Pulogadung industrial estate in...

Seoul to examine Kodeco's oil, gas field in Indonesia

Seoul to examine Kodeco's oil, gas field in Indonesia SEOUL (Dow Jones): The South Korean government may decide to shut down Kodeco Energy Co.'s oil and gas field in Indonesia if a government survey team does not find the project economically viable, a government official said on Tuesday.

Newly opened Honzen allures with pricey Japanese cuisine

Newly opened Honzen allures with pricey Japanese cuisine Honzen is the newly opened upmarket Japanese restaurant right in the middle of the central business district on Jl. Sudirman. It is located on the lower ground floor of the Kempinski Hotel, directly opposite the hallway from the Umenadori.

PLN subsidiaries going public

PLN subsidiaries going public BANDUNG (JP): President of PLN Kuntoro Mangkusubroto said the state electricity company's subsidiaries PT PJB I and PT PJB II were being prepared for initial public offerings.