Indonesian Political, Business & Finance News

Archive: 30 May 2000

63 articles found

Oligopolies threat to Asian oil players

Oligopolies threat to Asian oil players KUALA LUMPUR (AFP): Mega-mergers in the world's oil industry will leave "midget" Asian players helpless against giant competitors, Malaysian Prime Minister Mahathir Mohamad warned Monday.

Bondan resigns over Bulogate

Bondan resigns over Bulogate JAKARTA (JP): Acting State Secretary Bondan Gunawan became the latest high profile casualty in the Rp 35 billion State Logistics Agency (Bulog) scandal when he resigned Monday night, saying that he was just being used as an intermediate target before the president.

Jakarta Futures Exchange faces delay

Jakarta Futures Exchange faces delay JAKARTA (JP): The inauguration of the Jakarta Futures Exchange (JFX), Indonesia's first commodities futures trading center, has been delayed once more from its opening date of July 1JFX president Hasan Zein Mahmud said on Monday there were still some critical...

44 dead in fresh N. Maluku violence

44 dead in fresh N. Maluku violence AMBON, Maluku (JP): The unabated bloodshed in North Maluku continued on Monday when at least 44 people were killed in a predawn attack on two villages on Halmahera island.Chief of the Pattimura Military Command overseeing Maluku, Brig. Gen.

Sofjan denies travel ban still remains in effect

Sofjan denies travel ban still remains in effect JAKARTA (JP): Businessman Sofjan Wanandi refuted reports on Monday that he was banned from overseas travel, saying he had received permission to travel from President Abdurrahman Wahid himself.

Corporate farming concept not feasible

Corporate farming concept not feasible Minister of Agriculture M. Prakosa is designing a corporate farming concept, under which small farm areas will be consolidated into corporate farming units. H.S. Dillon, director of the Institute for Agricultural Policy Studies, thinks the plan will not work.

Environmental significance

Environmental significanceFrom Media IndonesiaNature demands that man has to manage and preserve the environment. But, in practice, very few people do what should be done. We may not be aware that day by day the quality of our environment declines, and sooner or later will deteriorate until more...

House looking for more control in foreign affairs

House looking for more control in foreign affairs JAKARTA (JP): The House of Representatives is seeking a greater say in foreign affairs by demanding the government first seek its approval before committing to any international agreement.

Share trader fined Rp 100m

Share trader fined Rp 100m JAKARTA (JP): The Capital Market Supervisory Agency (Bapepam) said on Monday it fined local capital market trader James Rachmat Subekti Rp 100 million (about US$11,765) for market manipulation.

New IMF boss Koehler to visit Jakarta

New IMF boss Koehler to visit Jakarta JAKARTA (JP): International Monetary Fund managing director Horst Koehler is scheduled to visit Jakarta on Sunday to examine the implementation of the country's economic reform measures.Finance minister Bambang Sudibyo confirmed on Monday the planned visit.

Fake banknote

Fake banknoteFrom Bisnis IndonesiaOn May 7, 2000 I withdrew money from Bank Internasional Indonesia's (BII) ATM in Kelapa Gading Mall amounting to Rp 1 million. When I used it to pay for something, one banknote was declared fake after it was passed through an ultra violet light.

PBSI looks to overhaul player recruitment system

PBSI looks to overhaul player recruitment system JAKARTA (JP): After Indonesian men's shuttlers brought home the Thomas Cup by defeating China on May 21, the Badminton Association of Indonesia (PBSI) has started grooming younger players to defend the sport's most prestigious team event in two years...

Soeharto's residence

Soeharto's residenceFrom Media IndonesiaAttorney General Marzuki Darusman's plan to move former president Soeharto from Jl. Cendana No 1 to another house for safety reasons and to prevent him from becoming the target of violent demonstrations has been reacted strongly by Anton Tabah.

JSX gets go ahead on new listing

JSX gets go ahead on new listing JAKARTA (JP): The Capital Market Supervisory Agency (Bapepam) sees no problem for the Jakarta Stock Exchange (JSX) to trade start-up companies.Bapepam chairman Herwidayatmo said the agency had yet to decide whether the JSX could go ahead with its new listing...

Arms case defendant blames hotel staff

Arms case defendant blames hotel staff JAKARTA (JP): Haryogi M. Maulani, a defendant in a case involving alleged illegal firearms possession, testified before the West Jakarta District Court on Monday that a staff of a West Jakarta hotel sneaked into his room while he was asleep on the evening of...

Bus torched after minor accident

Bus torched after minor accident JAKARTA (JP): Taman Sari residents torched a bus on Monday, after it accidentally hit a bajaj (three-wheeled taxi) on Jl. Mangga Dua Raya, Pinangsia area, West Jakarta.The Mayasari bus no.

XL, Siemens, Satunet tie up

XL, Siemens, Satunet tie up JAKARTA (JP): Mobile telecommunications operator Excelcomindo Pratama signed an agreement with cellular phone manufacturer Siemens Indonesia and news portal Satunet on Monday to provide Internet access through wireless application protocol (WAP) enabled mobile telephones.

Manila shells rebels ahead of peace talks

Manila shells rebels ahead of peace talks COTABATO, Philippines (Reuters): Philippine troops pounded a major separatist base with artillery and mortar fire on Monday on the eve of talks aimed at halting the bloodshed on the main southern island of Mindanao.

Papua congress to 'rectify' history opens in Irian Jaya

Papua congress to 'rectify' history opens in Irian Jaya JAYAPURA, Irian Jaya (JP): A landmark congress on the future of Irian Jaya opened on Monday amid appeals from Jakarta for West Papuans to remain within the republic.

Bambang faults IBRA concerning draft bill process

Bambang faults IBRA concerning draft bill process JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) will have to drop its plans to submit a controversial draft bill to the House of Representatives because the process has been improper, according to Finance Minister Bambang Sudibyo.

Toll from Belu flooding estimated at Rp 761 billion

Toll from Belu flooding estimated at Rp 761 billion MAUMERE, East Nusa Tenggara (JP): The recent floods which swept the regency of Belu in East Nusa Tenggara province have inflicted a total of at least Rp 761 billion in financial losses, an official said.

Familiar race card played in Fiji crisis

Familiar race card played in Fiji crisisBy Dewi Anggraeni MELBOURNE (JP): We live in an era where information technology bombards us with so much news that it is becoming harder to process even one tiny fraction of it.

Fiji's racial divide

Fiji's racial divide The situation in Fiji took a turn for the worse ... as supporters of coup leader George Speight looted the television station and fired shots aimed at harassing President Ratu Sir Kamisese Mara into resignation.

Avoid copying Lebanon's mistakes

Avoid copying Lebanon's mistakesBy Omar Halim JAKARTA (JP): The end of the Israeli occupation of Lebanese territory will trigger a series of developments and bring new opportunities for Lebanon.The withdrawal of the Israeli Defense Forces (IDF) will bring an end their effective support for the...

Conversion Rates

Conversion RatesBank Indonesia's conversion rates on May 29, 2000: Bank notes rates Buying Selling Rp Rp U.S. dollar 1 8,050.00 9,050.00Australian dollar 1 4,620.70 5,199.23Austrian schilling 1 544.24 612.18Belgian franc 1 185.65 208.82Brunei dollar 1 4,644.32 5,224.27Canadian dollar 1 5,354.

JSX composite index hits one-year low

JSX composite index hits one-year low JAKARTA (JP): The Jakarta Stock Exchange (JSX) Composite Index dove on Monday to close at its lowest level since April, last year due to reports of bombings in Medan.

Interpellation no plot to overthrow govt: PDI faction

Interpellation no plot to overthrow govt: PDI faction JAKARTA (JP): The Indonesian Democratic Party of Struggle (PDI Perjuangan) faction at the House of Representatives here on Monday assured that the majority support for an interpellation was not aimed at toppling President Abdurrahman Wahid.

Rupiah sets weaker tone for Asian monies

Rupiah sets weaker tone for Asian monies HONG KONG (Dow Jones): Several bomb blasts in the Indonesian city of Medan were the catalyst for sharp losses in the rupiah Monday, setting a modestly weaker tone for most other Asian regional currencies.

Chase raises $1b for Asia

Chase raises $1b for Asia HONG KONG (Dow Jones): Chase Capital Partners said Monday it has raised US$1.1 billion for its Asian private equity fund, and that it would soon be opening another private equity fund to invest in technology companies.

Cooperation needed to promote pencak silat

Cooperation needed to promote pencak silat JAKARTA (JP): The Indonesian traditional martial art and sport pencak silat has been recognized internationally but it has never received any special attention from the government here.

After Ambon, Medan?

After Ambon, Medan? The bomb blasts that jolted Medan, North Sumatra, on Sunday and Monday morning bring to attention some disturbing similarities with those that rocked Ambon, in Maluku, a few years ago.

Stock quotations on JSX

Stock quotations on JSXStock prices on the Jakarta Stock Exchange (in rupiah) on May 29, 2000: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 725 0 0 Adindo Foresta Indonesia 300 -25 325,000 Alakasa Industrindo 950 0 0 Alfa Retailindo...

Three people injured as another blast rocks Medan

Three people injured as another blast rocks Medan MEDAN, North Sumatra (JP): Another bomb blast rocked the North Sumatra capital early on Monday and injured three people, less than 24 hours after the explosion of one of three bombs planted at three different churches in the city.

Keeping Bali special, wonderful for tourists

Keeping Bali special, wonderful for touristsBy Simon Marcus Gower JAKARTA (JP): For the many tourists that arrive in Bali each year, the Balinese experience can be wonderful and special. Bali is world renowned as a holiday destination and by now epithets attached to the island have, to a degree,...

New tricks

New tricksFrom Media IndonesiaAt 9 a.m. on May 22, my family in Jember, East Java, received a telephone call from a man who told them that I had been in a traffic accident and was about to be operated upon (an amputation) at an international hospital in Surabaya.

KL opposition hit by Net attacks

KL opposition hit by Net attacks KUALA LUMPUR (AP): An opposition party led by jailed politician Anwar Ibrahim's wife faced attacks from cyberspace on Monday, including a demand that two of its top leaders step down.

Turn to Runduma for turtle conservation model

Turn to Runduma for turtle conservation modelBy La Ode Aminuddin KENDARI, Southeast Sulawesi (Antara): Runduma is a remote island at the eastern end of Wakatobi National Park on the Banda Sea, which is known for its high waves.

China objects to fisherman's death

China objects to fisherman's death MANILA (AFP): China sought compensation on Monday for the death of a Chinese fisherman shot last week by Philippine police in the South China Sea, a Philippine official said.

Consumers' rights

Consumers' rights I would like to report that, contrary to rumors about the reform movement, the concept of consumer rights and fair treatment of customers has yet to arrive.On May 25, I had a telephone call at about 5 p.m.

Eight shot in Kendal

Eight shot in Kendal KENDAL, Central Java: Eight civilians were shot on Saturday in a violent clash between 500 people and Police Mobile Brigade (Brimob) officers guarding a clove factory belonging to PT Zanzibar in the district of Patean, Kendal regency.Patean District Police Chief Lt.

Junior high school exams begin under tight control

Junior high school exams begin under tight control JAKARTA (JP): The national final examination (Ebtanas) for junior high schools started on Monday under tight control amid fear of cheating similar to what happened with the senior high school exam last week.

Asian survey shows S'pore workers 'least committed'

Asian survey shows S'pore workers 'least committed' SINGAPORE (AFP): Singaporeans are the least committed workers to their employers among Asian work forces, while Filipinos and South Koreans are the most loyal, a research organization said Monday.

Government puts Soeharto under house arrest

Government puts Soeharto under house arrest JAKARTA (JP): The government changed the arrest status of former president Soeharto, a suspect in an ongoing corruption investigation, from a city arrest to a house arrest on Monday.The former despot is prohibited from leaving his Jl.

Italian businesses in Indonesia

Italian businesses in Indonesia We, Italian businesspeople of the Italian Business Association in Indonesia (IBAI), believe in Indonesia, its natural riches and potential. But most of all, we believe in its people, because with them, we work daily in firms and in the marketplace.

C. Java provides Rp 13b for PON

C. Java provides Rp 13b for PON PURWOKERTO, Central Java (JP): Central Java Governor Mardiyanto said his authority had spent Rp 13 billion (US$1.6 million) to fund training and provide bonuses for local athletes who win medals at the 15th National Games (PON) in Surabaya next month.

APEC meet to discuss trade, e-commerce

APEC meet to discuss trade, e-commerceBy Lara Parpan SINGAPORE (AFP): Progress in lifting free trade barriers, strengthening market structures and kickstarting electronic commerce initiatives in the region top the agenda for senior Asia-Pacific officials meeting in Brunei this week.

Energy minister off to China to sell Tangguh gas

Energy minister off to China to sell Tangguh gas JAKARTA (JP): Minister of Mines and Energy Susilo Bambang Yudhoyono will visit China in a bid to find buyers for the Tangguh natural liquefied gas (LNG) project in Irian Jaya, a senior government official said on Monday.

Pertamina lures Petronas

Pertamina lures Petronas KUALA LUMPUR (Dow Jones): Indonesia's state oil and gas company Pertamina Monday invited Malaysia's Petronas Nasional Berhad, or Petronas, to participate in a US$800 million oil pipeline project in Java, Indonesia, state-funded news agency Bernama said.

TV today

TV todayTVRI 5:30 a.m. Religious Teachings 6:00 News 8:00 Children's Songs 8:30 Music 9:00 Interval 2:00 p.m. News 2:30 Children's Program 3:00 Documentary 3:30 Music 4:00 Regional News 4:30 Performance 5:30 News (in English) 6:00 Documentary 7:00 Evening News 7:30 TV Drama 8:00 Sports 9:00 World...

Asia-Europe meeting showcases realities and prospects

Asia-Europe meeting showcases realities and prospects This is the first of two articles by the former foreign minister, 1988-1999, Ali Alatas, based on a presentation at the 30th anniversary of the Indonesian-Germany Economic Association (Ekonid) in Jakarta on May 17.

City to procure new buses from China

City to procure new buses from China JAKARTA (JP): City public operators welcomed on Monday an offer to acquire new, environmentally friendly buses through a soft loan disbursement from the government of the People's Republic of China.

Striking workers cripple seaport

Striking workers cripple seaport JAKARTA (JP): Some 850 workers of the Jakarta International Container Terminal (JICT) in Tanjung Priok seaport, North Jakarta, went on strike on Monday, leaving the usually hectic port deserted and thousands of containers untouched at the docked vessels.

Police name 11 suspects in PDI HQ attack

Police name 11 suspects in PDI HQ attack JAKARTA (JP): The National Police Headquarters disclosed on Monday that its investigation of the attack on the Indonesian Democratic Party (PDI) headquarters on July 27, 1996 has been accomplished.

Italo-Indonesian trade relations, investments and activities

Italo-Indonesian trade relations, investments and activities During 1999, bilateral trade between Indonesia and Italy continued to show a surplus of US$379 million in favor of Indonesia. Data from the Central Board of Statistics indicate that Indonesia exported to Italy sports shoes, textile yarns,...

GINSI wants PSI system

GINSI wants PSI system JAKARTA (JP): The Indonesian Importers Association (GINSI) proposed to the government on Monday to re-impose the preshipment inspection (PSI) of imports to curb the recent increasing smuggling of various products into the country.

Top negotiator with GAM appeals for restraint

Top negotiator with GAM appeals for restraint BANDA ACEH, Aceh (JP): Senior diplomat Hassan Wirajuda, who is the government's chief negotiator with the Free Aceh Movement (GAM), called on all conflicting parties on Monday to exercise restrain to help restore peace in the province.

Tutor Time ...

Tutor Time ... Ingrid's little boy was growing fast. Soon he would have to go to preschool. She started looking around for a good one. Ingrid found many schools in Jakarta but none that really satisfied her expectations.Reluctantly she put her son in one but without feeling good about doing so.

BCA's initial public offering: Let the buyer beware

BCA's initial public offering: Let the buyer bewareBy Melville S. Brown The following is the second of two articles on the Indonesian banking crisis. JAKARTA (JP): Public confidence in the nation's banking system continues to be fragile as news of improved performance in one bank is quickly...

Agriculture minister appoints new top officials

Agriculture minister appoints new top officials JAKARTA (JP): Minister of Agriculture M. Prakosa replaced on Monday almost all of key officials in the ministry and expanded directorate generals from three to five as part the ministry's restructuring program.

Man wanted for scam, fake money

Man wanted for scam, fake money JAKARTA (JP): Central Jakarta Police pledged to find the suspect in a fraud that involved counterfeit money, a police official said on Monday.Central Jakarta Police Precinct Second Lt.

Girl trouble causes fracas

Girl trouble causes fracas PURWOKERTO, Central Java: Hundreds of people from Tunjung village, Banyumas regency ran amok and damaged seven houses on Sunday after one of their friends was beaten-up by neighboring villagers.

Where to go in Bandung for Tuesday, May 30, 2000

Where to go in Bandung for Tuesday, May 30, 2000Exhibition * Art Stone and NTT Traditional Handycraft Exhibition by Mayorga Gallery and Joglocakra, at Grand Hotel Preanger Bandung, Jl. Asia Afrika No. 81 (Phone: 022 431631), 9 a.m. to 9 p.m., until May 31.

Rates for tax payment, valid from May 29 to June 4

Rates for tax payment, valid from May 29 to June 4 U.S. dollar 1 Rp 8,340.00Austrian schilling 1 547.11Australian dollar 1 4,737.12Belgian franc 1 186.62Canadian dollar 1 5,526.11Swiss franc 1 4,833.38Deutschemark 1 3,850.59Danish krone 1 1,013.06French franc 1 1,147.70Poundsterling 1 12,263.