Indonesian Political, Business & Finance News

Archive: 7 August 2003

Showing 1-50 of 86 articles

Only a panic reaction

Only a panic reaction The financial market predictably reacted quite negatively to the terrorist bomb attack at the J.W. Marriott hotel here on Tuesday, as evidenced by the 3.1 percent decline in the Jakarta stock exchange main index and the 2.1 percent depreciation of the rupiah.

Sketches of bomber released

Sketches of bomber released Damar Harsanto and Tiarma Siboro, The Jakarta Post, Jakarta Police have moved quickly in their investigation into the bombing of the JW Marriott Hotel by releasing three composite sketches of the man who purchased the 1986 metallic blue Toyota Kijang minivan used in Tuesday's outrage. National Police detectives' chief Insp. Gen. Erwin Mapasseng told the press that the sketches were made based on the description given by the van's former owner.

Govt to launch stimulus package

Govt to launch stimulus package The Jakarta Post, Jakarta The government is planning to introduce a stimulus package to help revive investments and cushion the economy from the impact of the latest terror attack in the country. "God willing, there will be an economic package to help boost business activities, as well as investments. It'll be like a stimulus package to improve our investment climate," Minister of Finance Boediono told reporters on Wednesday.

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Only justice can build Dili-Jakarta relationship Aderito de Jesus Soares New York City 2. Yale -- Moving money from one pocket to another 2 X 30 Will new EU farm reform package bolster its position in the WTO? Shada Islam Journalist Yale Center for the Study of Globalization Brussels

Medco's profits soar on higher oil and gas prices

Medco's profits soar on higher oil and gas prices Rendi A. Witular, The Jakarta Post, Jakarta Energy company PT Medco International's first semester net profit soared by 20 percent on higher international oil and gas prices. In a statement released on Wednesday, Medco said that it had recorded a rise in first-half profit to US$52.7 million or 1.7 U.S. cents per share, from $44.6 million or 1.3 cents in the same period last year.

Ban on communism a display of vindictiveness

Ban on communism a display of vindictiveness J. Soedjati Djiwandono, Political Analyst, Jakarta, soedjati@cbn.net.id If there were anything so senseless, inconsistent, illogical, unfair, unjust or ignorant in this country, it must be the continued ban on communism or Marxism-Leninism. It is senseless, because if it were true that communism were our enemy, it would be all the more important that we all knew what it was all about. We should understand what kind of an animal it is.

Beratha wins Bali election to retain post

Beratha wins Bali election to retain post I Wayan Juniartha, The Jakarta Post, Denpasar, Bali Incumbent Bali Governor Dewa Made Beratha won a second five-year term in the gubernatorial election here on Wednesday, thanks to President Megawati Soekarnoputri's support. He garnered 31 of the 55 votes, defeating Golkar's wealthy businessman Putu Gde Ary Sutha, who unexpectedly pocketed only four votes.

On daylight saving

On daylight saving Helen Lok's letter Daylight savings in the Aug. 4 edition of The Jakarta Post made the classical mistake of imagining electricity can be saved by putting the clocks forward. In fact, the lights will be switched on when it gets dark and they will go off when the sun comes up, or when people go to bed, irrespective of what time that is. Simply stated, the number of hours during which the lights are on is unaffected by clocks.

Marines implicated in Asaba shooting

Marines implicated in Asaba shooting Tiarma Siboro, The Jakarta Post, Jakarta The Indonesian Navy is currently questioning four Marine soldiers over their alleged involvement in the murders of a businessman and his Army's Special Forces (Kopassus) bodyguard last month. The four soldiers are identified as Second Lt. SAS, Corporal SR, Corporal FH and First Pvt. SS from the Second Marine Brigade based in Cilandak, South Jakarta, the Navy spokesman, Commodore Adhyaman A. Saputra, said on Wednesday.

Terrorist suspects refuse to testify in trial

Terrorist suspects refuse to testify in trial Wahyoe Boediwardhana, The Jakarta Post, Denpasar, Bali Three key witnesses in the Bali bombings trial -- Ali Gufron, Amrozi and Imam Samudra -- refused to testify against suspected terrorist Utomo Pamungkas alias Mubarok on Wednesday, and withdrew their previous testimonies against the defendant. Amrozi, known as the smiling terrorist, brazenly faced the judges headed by I Nengah Suryada, telling them he would not testify against Mubarok.

;JP;

;JP; ANPAf..r.. Corporate-citizenship-idea Toward creating better corporate citizenship Muhammad Sauri Hasibuan Contributor Jakarta In today's business environment, improving corporate governance is a critical issue for all countries and all companies. Companies around the world are facing increased pressure to find and secure sources of capital in order to expand and improve their operations.

DJ Indonesia/PGN/Bond -2: On Roadshow In London

DJ Indonesia/PGN/Bond -2: On Roadshow In London Dow Jones Jakarta Indonesia's PT Perusahaan Gas Negara, the state-owned natural gas utility, said on Wednesday it may delay pricing its planned US$200 million bond offering to give it time to assess the effect of a deadly bomb attack in Jakarta on investor sentiment.

Govt to impose new security measures

Govt to impose new security measures The Jakarta Post, Jakarta In response to Tuesday's bomb blast at the five-star JW Marriott hotel in South Jakarta, the government plans to impose new security measures that may upset some people. Coordinating Minister for Political and Security Affairs Susilo Bambang Yudhoyono said on Wednesday that early detection efforts involving intelligence, police and immigration officers would be one of the measures.

Students acquitted of illegal rally charges

Students acquitted of illegal rally charges Muninggar Sri Saraswati, The Jakarta Post, Jakarta Three student activists were acquitted on Wednesday by the Central Jakarta District Court on charges related to a rally that was held last Jan. 22. "I couldn't believe it. I thought I would be punished," said Rico Marbun, one of the defendants.

Led by rupiah, Asian monies mostly improve against dollar

Led by rupiah, Asian monies mostly improve against dollar Shen Hong, Dow Jones, Singapore Led by the rupiah, Asian currencies were mostly higher against the U.S. dollar late Wednesday, recovering from the previous day's jitters brought on by a bomb blast in the Indonesian capital. The dollar's slide against the Japanese yen and the threat of central bank intervention also helped regional currencies, notably the Singapore dollar, move higher, observers said.

Bylaw endorsement postponed

Bylaw endorsement postponed JAKARTA: The City Council decided on Wednesday to postpone the endorsement of the bylaw on transportation draft due to many crucial issues, that still need to be discussed and revised. Totok Ismunandar, a member of the steering committee for the draft, said that the issues included the establishment of a transportation council, traffic restrictions and the certification of public transportation drivers. "We need more time to discuss the issues.

Officer tried for bombing

Officer tried for bombing JAKARTA: The trial of a former member of the National Police's bomb squad charged with bombing National Police Headquarters began in the South Jakarta District Court on Wednesday, a day after the deadly blast at the JW Marriott Hotel. Defendant Anang Sumpena, 34, is facing the death penalty for allegedly possessing, storing, transporting and using explosive materials.

1. Insight -- 7 cols, 1 line, 50 pts MB, 35 counts

1. Insight -- 7 cols, 1 line, 50 pts MB, 35 counts Ban on communism a display of vindictiveness 2. Intel -- 4 cols, 1 line, 36pts MB, 35 counts Poor intelligence blamed for blast 3. Condem -- 5 cols, 1 line, 32pts MB, 50 counts Muslim groups condemn blast, say Islam not to blame 4. Reaction -- 3 cols, 2 lines, 36pts MB, 26 counts Indonesia gets world support in blast aftermath

Maid charged with killing employer

Maid charged with killing employer SINGAPORE: A 22-year-old Indonesian maid has been arrested and charged with the murder of her Singaporean employer, a police spokeswoman said on Wednesday. Har Chit Heang, 57, was found dead in her bedroom two days ago with injuries to her right wrist. The dead woman, clad in a white t-shirt and grey shorts, was lying face up on the bed, next to a fruit knife with a 15-centimeter blade.

SE Asian nations tighten security after Jakarta blast

SE Asian nations tighten security after Jakarta blast Agence France-Presse, Kuala Lumpur/Bangkok/Manila Southeast Asian nations have beefed up security in their countries amid fears of possible terrorist attacks following a bomb blast that ripped through a luxurious Jakarta hotel. Malaysia has tightened security at its ports, marine police said on Wednesday.

TV Program: Thursday, August 7, 2003

TV Program: Thursday, August 7, 2003 .TB.30" .90" TVRI 6:00 a.m. News: Berita Pagi 7:00 English News Service 9:00 Music 11:00 News: Berita Daerah 12:00 p.m. News: Berita Siang 1:00 Talk Show: Konsultasi Keluarga 2:00 News: Metro Indonesia 4:00 Religious Teachings 4:30 Documentary 5:00 Religious Songs 6:00 News: Berita Petang 7:00 Battle of Wits 9:00 News: Dunia Dalam Berita 9:30 Music: Country Road 11:00 Talk Show: Bincang Malam TPI 6:00 a.m.

Tourism industry may suffer another setback

Tourism industry may suffer another setback The Jakarta Post, Jakarta/Denpasar The country's tourism industry may suffer another serious setback after the bombing of the JW Marriott Hotel, unless the government takes immediate measures to tighten security. "I have received reports from my members (tour and travel operators), that some Japanese tourists have canceled their trips to Indonesia.

House OKs constitutional court bill

House OKs constitutional court bill Kurniawan Hari, The Jakarta Post, Jakarta The House of Representatives unanimously approved the constitutional court bill on Wednesday. The House avoided a vote after members agreed that judges sitting on the court must have law degrees and that laws are subject to judicial review. Deputy House Speaker Soetardjo Soerjogoeritno banged the gavel to mark the endorsement of the bill at around 11 p.m. ending a lengthy debate that started early in July.

ASEAN leaders, businessmen to hold meeting in Bali

ASEAN leaders, businessmen to hold meeting in Bali The Jakarta Post, Jakarta Southeast Asian political and business leaders will gather in Nusa Dua, Bali from Oct. 4 to Oct. 7 in a bid to boost government-private sector cooperation, and attract investment to the region.

38 school heads in West Java to travel abroad on study tour

38 school heads in West Java to travel abroad on study tour Yuli Tri Suwarni, The Jakarta Post, Bandung Amid growing concerns over the high cost of education in the crisis-riddled country, at least 38 state senior high school (SMU) principals in West Java have joined a one-week overseas trip to conduct a comparative study. The principals are scheduled to visit Singapore, Malaysia and Thailand from Aug. 20 to Aug. 27, with their expenses being funded by the respective schools.

Eight more killed in Aceh

Eight more killed in Aceh BANDA ACEH, Aceh: Seven suspected separatist rebels and a civilian have been killed in the restive Indonesian province of Aceh while 11 other guerrillas have been captured, the military said Wednesday. Troops clashing with the Free Aceh Movement (GAM) in Bireuen district on Tuesday killed six suspected guerrillas, said military spokesman Lt. Col. Ahmad Yani Basuki said. Two rebels were captured following the 30-minute firefight, he said.

Washington warns of weapons and bombs hidden in electronics

Washington warns of weapons and bombs hidden in electronics Christina Ling, Reuters, Washington U.S. officials on Tuesday warned airports to step up scrutiny of passengers' electronic items amid renewed militant threats, but said there were no plans to raise the national threat level.

Dengue fever outbreak in Medan, 3 dead

Dengue fever outbreak in Medan, 3 dead MEDAN, North Sumatra: At least 145 cases of dengue fever and three deaths have been reported in the North Sumatra capital Medan, health officials said on Wednesday. Medan health office head Herman Sadeck said the outbreak was an annual occurrence during the months of July and August, and had always claimed lives. The varied climate -- sometimes wet and sometimes dry -- had contributed to the spread of the mosquito-borne disease, he said.

Indonesia gets world support in blast aftermath

Indonesia gets world support in blast aftermath Agencies, Jakarta The government received on Wednesday sympathy and support from world leaders, who expressed confidence that Indonesia would be able to find the perpetrators of the JW Marriott Hotel bombing as soon as possible. Minister of Foreign Affairs Hassan Wirayuda said that world leaders had sent special messages to President Megawati Soekarnoputri regarding Tuesday's devastating bombing.

Awareness of GCG improves, but lacks public support

Awareness of GCG improves, but lacks public support Sudibyo M. Wiradji The Jakarta Post Jakarta The implementation of good corporate governance (GCG) practices in Indonesia has shown positive progress since its introduction five years ago, despite the lack of support from the government and the general public. According to the National Committee for Corporate Governance (NCCG), a number of GCG principles have now become mandatory for publicly listed companies.

MPR recommends anticorruption commission

MPR recommends anticorruption commission M. Taufiqurrahman and Kurniawan Hari, The Jakarta Post, Jakarta The People's Consultative Assembly (MPR) rejected on Wednesday a proposal that would recommend the government to establish an independent committee to oversee business activities of the family of a president.

Community-based project benefits slump villagers

Community-based project benefits slump villagers Rita A.Widiadana, The Jakarta Post, Denpasar, Bali Once one of the country's most powerful men, a close and loyal aide to the strongman Soeharto, Moerdiono is no ordinary name. In the neighborhood of Banjar Sari, a poor and densely populated area near the Ubung bus terminal in Denpasar, Moerdiono remains very well remembered to this day, thanks to the public toilet that is named after him: the MCK Moerdiono, which he personally inaugurated.

JP/4/4GOLKAR

JP/4/4GOLKAR Two generals take different political courses The Jakarta Post Jakarta Two retired Indonesian Military (TNI) generals took different political courses on Wednesday, with one eying the presidency and the other quitting the race. Former TNI chief Gen.

Drugs smugglers use East Timor to get into RI: Police

Drugs smugglers use East Timor to get into RI: Police Yemris Fointuna, The Jakarta Post, Kupang, East Nusa Tenggara Police say that they have identified an international drug network, which uses East Timor as the gateway for the smuggling of thousands of kilograms of illegal drugs into Indonesia. The network has been operating in Indonesia for some time, but was only identified after one of its members was arrested recently in Denpasar, Bali; East Nusa Tenggara Police chief Insp. Gen.

Muslim groups condemn blast, say Islam not to blame

Muslim groups condemn blast, say Islam not to blame Muninggar Sri Saraswati, The Jakarta Post, Jakarta Nahdlatul Ulama (NU) and Muhammadiyah, the country's two largest Muslim organizations, led a chorus of condemnation against the bomb attack on JW Marriott Hotel and called on people to remain calm.

Only justice can build Dili-Jakarta relationship

Only justice can build Dili-Jakarta relationship Aderito de Jesus Soares, Center for Constitutional Rights (CCR), New York City Jakarta's "theater of justice on East Timor" is nearing its end, when the ad hoc human rights tribunal on Tuesday sentenced Maj.Gen. Adam Damiri to three years in jail for his involvement in the 1999 devastation in East Timor, while letting him free pending his appeal. The court has so far acquitted 12 of the 18 brought to trial.

RI breaks breast-feeding record

RI breaks breast-feeding record KEDIRI, East Java: Mothers in the East Java town of Kediri have reason to be proud. They broke the world record on Wednesday for the largest number of women ever to breast-feed their babies simultaneously. The Indonesian Record Museum (MURI) says that over four hundred mothers took part in the event, eclipsing a similar attempt made by Australia some time ago as the Australian mothers had refused to perceive the event as a competition.

New contract to solve Cepu dispute proposed

New contract to solve Cepu dispute proposed The Jakarta Post, Jakarta State oil and gas firm Pertamina said it had offered a special contract scheme to giant oil firm Exxonmobil oil in a bid to settle a protracted dispute over the contract in the Cepu oil block in Central and East Java. Pertamina's director Baihaki Hakim said the contract was a special working contract similar to a split revenue contract applied by the government with other oil production sharing contractors.

Bargain hunting lifts stocks higher

Bargain hunting lifts stocks higher Rendi A. Witular, The Jakarta Post, Jakarta A day after a lethal terrorist attack rocked one of the country's famous business hotels, JW Marriott, the Jakarta Composite Index bounced back higher on Wednesday as investors, mostly foreign-based, hunted down undervalued blue chip shares. The index ended up by 1.2 percent or 5.907 points to 494.43. On Tuesday's trading, the index plunged by 3.1 percent to a more- than-two-month low of 488.52.

Manimaren buried, mystery remains

Manimaren buried, mystery remains The Jakarta Post, Jakarta The death of businessman Marimutu Manimaren, who apparently committed suicide by jumping out of s 56th floor window of a hotel on Tuesday, is still shrouded in mystery.

Govt, police still noncommittal on JI involvement in hotel blast

Govt, police still noncommittal on JI involvement in hotel blast Tiarma Siboro The Jakarta Post Jakarta The government is keeping open the possibility of regional terror network Jamaah Islamiyah's involvement in the bomb attack on JW Marriot Hotel on Tuesday.

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_________________________________________________________________________________________ Rupiah Rates August 6 _________________________________________________________________________________________ Banknote rates TT rates Selling Buying Selling Buying Australian dollar 1 5,917.58 5,264.52 5,620.99 5,560.89 Brunei dollar 1 5,170.40 4,600.74 4,911.26 4,859.73 Canadian dollar 1 6,521.71 5,802.30 6,194.84 6,128.94 Swiss franc 1 6,774.15 6,028.96 6,434.62 6,368.36 Danish krone 1 1,397.87...

Govt, police link Marriot bombing to Jamaah Islamiyah

Govt, police link Marriot bombing to Jamaah Islamiyah Tiarma Siboro, The Jakarta Post, Jakarta The government is keeping open the possibility of regional terror network Jamaah Islamiyah's involvement in the bomb attack on JW Marriot Hotel on Tuesday.

RP, MILF ask Muslim states to send peace monitors

RP, MILF ask Muslim states to send peace monitors Agencies, Manila Philippine officials and Muslim separatist rebels have asked Malaysia and several other countries to speed up the dispatch of monitors to observe a cease-fire in the south, officials said on Wednesday.

4 x 12

4 x 12 Beratha wins Bali election to retain governorship JP/5/trip 2 x 26 38 school heads in W. Java to travel abroad on study tour 1 x 49 'Rp 53b in reforestation funds misused in East Java'

ASEAN economies expected to expand 4%-4.5% in 2003

ASEAN economies expected to expand 4%-4.5% in 2003 Dow Jones, Manila Southeast Asian economies are expected to sustain last year's growth momentum in 2003 despite a sluggish performance in the second quarter due to the outbreak of SARS. "We forecast that economic growth would be maintained at an average rate between 4.0 percent-4.5 percent this year," according to the draft of a communique that finance ministers from the Association of Southeast Asian Nations, or ASEAN, will issue Thursday.

'Rp 53b in reforestation funds misused in East Java'

'Rp 53b in reforestation funds misused in East Java' Ainur R. Sophiaan, The Jakarta Post, Surabaya Calls are growing for police and prosecutors in East Java province to investigate alleged misuse of around Rp 53 billion in reforestation funds provided by the central administration. The demand came after councillors in the province received a report of irregularities in state funds, allegedly involving local officials of forestry offices. "Our findings are quite clear.

Security increased for Bali v'ball tour

Security increased for Bali v'ball tour The Jakarta Post, Jakarta Organizers of the International Beach Volleyball World Tour in Bali in two weeks intend to adopt tighter security precautions in the wake of the Marriott bombing. The five-day tournament will run from Aug. 20 to 24 at Petitenget Beach in Seminyak, Bali. "We planned to use 100 security guards, but the number will become 150," Cahya Aziz, the tournament director, said as quoted by Antara in Jakarta on Wednesday.

Astra Says blast won't hurt sales

Astra Says blast won't hurt sales JAKARTA: Indonesian car maker PT Astra International said Wednesday a bomb blast that occurred in the capital Tuesday won't hurt its performance this year, and forecast sales to expand 3.9% from 2002. "The bombing won't hurt our sales performance," Astra's president Budi Setiadharma told reporters. Setiadharma said the company expects its car sales this year to rise to around 330,000 units from 317,761 units a year earlier.

Widows confronted by reality

Widows confronted by reality The Jakarta Post, Jakarta "A train is about to hit myself and my husband. At that very moment we realized there was nothing we could do. We readied ourselves to die ... Suddenly I woke up," said Nurhayati at the Cipto Mangunkusomo General Hospital (RSCM) morgue. Never did she think that the dream might be a premonition warning her of the death of her husband Hidayat, 27.