Palm oil at 2.5 month high on India talk KUALA LUMPUR (Reuters): Technical covering pushed Malaysian palm oil futures to a 2-1/2 month high on persistent talk that India planned to cut import duty, traders said on Wednesday. The benchmark third-month September contract was up 16 ringgit at 854 ringgit (US$224.74) a ton. Volume was 2,005 lots. India, whose crude palm oil import duty stands at 75 percent, was Malaysia's biggest palm oil buyer in 2000, taking 2.03 million tons.

Spotlight Photo: Bali BALI GALLERY NEW MALL IN KUTA: Bali Governor Dewa Beratha signs a placard to mark the opening of Mal Bali Galeria, a one-stop shopping center in the popular tourist town of Kuta. Duty Free Shop and Ema Chinese Restaurant are among the mall's tenants. The mall, which was opened on Monday, also has several department stores. Planet Hollywood and Studio 21 cineplex will also be setting up their operations here at the end of the year.

UIC 2000 income increased JAKARTA (JP): Chemical producer PT Unggul Indah Cahaya (UIC) announced on Wednesday a net consolidated income of US$13.8 million for 2000, a 54.7 percent increase from $9 million in the previous year. The company said in a statement that its earnings from the exports of alkylbenzene increased 13.3 percent to $23 million last year from $20.3 million the previous year. Export volumes reached 20.976 tons in 2000, a 23 percent increase on the previous year.

Supreme Court holds Tommy's tax document JAKARTA (JP): The Supreme Court's deputy chief justice for civil and administrative courts, Paulus Effendi Lotulung, said on Wednesday the court possessed the reportedly missing decision in a case involving a company belonging to fugitive Hutomo "Tommy" Mandala Putra. Speaking to journalists in his office, Paulus said the Supreme Court asked the Jakarta State Administrative Court on Monday if it still had a copy of the Supreme Court decision.

Indonesia to recover faster after August special session: Ramli KUALA LUMPUR (AFP): Indonesia's economy will recover faster after Aug. 1 whatever the outcome of a parliamentary session which could impeach the president, Finance Minister Rizal Ramli said Wednesday. Ramli warned however that Indonesia's budget deficit this year could balloon to 6 percent of gross domestic product (GDP), from 3.7 percent in 2000, amid a weakening rupiah and rising interest rates.

Where to go in Bali: The 23rd Bali Arts festival at The Werdhi Budaya Art Center at Jl. Nusa Indah, Denpasar : June 28: The romantic Semara Pagulingan traditional gong ensemble of Denpasar's Kaja Sesetan hamlet. Plus the grand procession of Ngelawang Agung of Tabanan regency, 10 a.m. - Japanese contemporary dances and music performance by Asian Paradise and Hagolomo troupes. Traditional masked dance drama Wayang Wong of Gianyar regency.

Aceh peace talks must prioritize civilian protection: Amnesty LONDON (Agencies): Peace talks on Aceh, which are to resume in Geneva next week must prioritize human rights protection, Amnesty International said on Tuesday.

Asia must adopt managed float: Japan KUALA LUMPUR (Reuters): Emerging economies in Asia should adopt a managed currency float tied to a trade-weighted basket of currencies, Japan's top financial diplomat Haruhiko Kuroda said on Wednesday. Kuroda, Vice Finance Minister for International Affairs, said neither the extremes of a free-floating exchange rate or a hard peg would be suitable for developing east Asian markets.

Poll still places RI among the most corrupt countries BERLIN (AFP): The latest poll by Transparency International still put Indonesia among the most corrupt countries with scores of two or less, with Finland, Denmark and NewZealand ranked the 'cleanest' ones with scores of between nine and ten.

WB approves US$422 million in loans for Indonesia WASHINGTON (Reuters): The World Bank said on Tuesday it had approved new loans of US$422 million for Indonesia and said it could increase lending to as much as $1 billion annually if an impasse with the IMF were resolved. The larger of the two loans, the Kecamatan development project, totals $320.2 million and is aimed at reducing poverty in 15,000 poor villages across the country, potentially helping up to 30 million rural Indonesians.

Major challenges lie ahead at the end of HIV/STD project By I Wayan Juniartha DENPASAR, Bali (JP): With more than four million condoms distributed and at least 30,000 people educated in the basic knowledge of sexually transmitted diseases (STDs) and HIV/AIDS in Bali alone, the five-year Indonesia HIV/AIDS and STD Prevention and Care Project Phase One officially ended in June. "I am quite pleased with the result of the project.

Banks required to report suspicious transactions JAKARTA (JP): Bank Indonesia said on Wednesday that its new "know your customer" ruling required banks to report any suspicious transactions as part of a concerted effort to improve prudential banking practices and help curb money laundering. Bank Indonesia deputy director for legal affairs Junus Husein said Bank Indonesia Ruling No. 3/2001 was issued on June 18, and had since been put into effect.

Lautan Luas revenue drops JAKARTA (JP): Chemical company PT Lautan Luas said that its net income for last year dropped to Rp 26 billion (US$2.3 million) from Rp 55.7 billion in 1999. "The primary cause of this reduction is the foreign exchange loss due to rupiah exchange rate fluctuations," Lautan Luas president Indrawan Masrin said in a statement on Wednesday.

Rupiah rate June 27 Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Photographer captures images of Balinese art By Alpha Savitri DENPASAR, Bali (JP): Except for one small room in the Ksirarnawa Building, the month-long 23rd Bali Art Festival in Denpasar would have been just another routine annual event in which the arts were placed center stage. In that room there is a display of some 40 photographs, recording important events in this annual art festival between 1991 and 2000.

Indonesia Open badminton c'ships 'on as planned' JAKARTA (JP): The Badminton Association of Indonesia (PBSI) strongly denied a report from the Asian Badminton Confederation (ABC) saying that the US$170,000 Indonesia Open was being postponed until November. "The Indonesia Open will still take place from July 23 until July 29 at the Bung Karno Indoor Stadium as scheduled. We are still preparing for the event," PBSI secretary-general Leo Chandra Wiranata told reporters on Wednesday.

Urban poor hold rally JAKARTA (JP): Hundreds of becak (pedicab) drivers (photo above) held a march on Wednesday to demand that the poor be given the right to earn a living in the capital. The march, organized by several non-governmental organizations, began at the National Monument and passed by the Ministry of Foreign Affairs and the City Council building, before ending at the United Nations representative office on Jl. Thamrin.

Artist Yos Suprapto skewers a culture of barbarism By Aendra H. Medita JAKARTA (JP): Dissatisfaction and a desire for change from the established order in which avarice and injustice have been allowed to run amok are the grand themes in Yos Suprapto's paintings and drawings.

Sampoerna to buy back 28m shares from Panamas JAKARTA (JP): Shareholders of publicly listed cigarette producer PT Hanjaya Mandala Sampoerna agreed on Wednesday to buy back its 28 million shares worth Rp 336 billion (US$29.5 million) from its subsidiary PT Perusahaan Dagang dan Industri Panamas. Sampoerna's outgoing finance director Ekadharmajanto Kasih said that the buyback would increase the shareholders earnings following a decrease in its total shares to 900 million from 928 million.

Fishermen complain over intimidation JAKARTA (JP): Some 100 people from 206 fishing families who are being forced out of their homes in East Ancol, North Jakarta, filed a complaint with the National Commission on Human Rights on Tuesday, accusing the North Jakarta mayoralty of intimidation. "The mayoralty and the military have intimidated us three times this month," Heru, the spokesman for the group, told The Jakarta Post.