:: jawawa.id :: Indonesian Business and Finance News

Thu, 18 Dec 1997

JP/Will South Korean President Kim Young-sam resign?

Will South Korean President Kim Young-sam resign? South Korea's grave and deepening economic crisis has been entwined with the presidential election campaign which ends today as Koreans vote for one of seven candidates.

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Thu, 18 Dec 1997

JP/JC Penney's final sale attract bargain hunters

JC Penney's final sale attract bargain hunters JAKARTA (JP): Hundreds of bargain hunters have flocked to JC Penney outlets in Jakarta and Tangerang to take advantage of huge discounts following the company's decision to close down its Indonesian operation.

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Thu, 18 Dec 1997

JP/Canada's Paul hopes to win Super Car series at Sentul

Canada's Paul hopes to win Super Car series at Sentul JAKARTA (JP): Canadian Robert J. Paul is hopeful of winning the Super Car title at the Sentul circuit, near Bogor, on Sunday.If Paul wins, he will have won two titles this year after winning the 1997 national drag race series.

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Thu, 18 Dec 1997

JP/Road to be widened in Bintaro Jaya

Road to be widened in Bintaro Jaya JAKARTA (JP): The City Council has urged Jaya Real Property, the developer of the Bintaro Jaya housing complex in South Jakarta, to broaden Jl. Cempaka connecting the complex and a major road in the area to help ease traffic congestion.

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Thu, 18 Dec 1997

JP/Bus accident kills 4 people, injures 5 others

Bus accident kills 4 people, injures 5 others JAKARTA (JP): At least four people were killed and five others injured when a speeding, overloaded minibus hit a shelter at a bus stop in Tanjung Duren district, West Jakarta, yesterday morning.

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Thu, 18 Dec 1997

JP/Cardinal says have 'a simple' Christmas

Cardinal says have 'a simple' Christmas JAKARTA (JP): Jakarta's Archbishop, Cardinal Darmaatmadja, called on Catholics in the capital to celebrate Christmas in simple but solemn ceremonies.

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Thu, 18 Dec 1997

JP/Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Dec.17, 1997: Buying Selling Rp Rp U.S dollar 5,300.00 5,900.00Austrian shilling 421.10 483.

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Thu, 18 Dec 1997

JP/Casas' matchplay victory sets up clash against friend

Casas' matchplay victory sets up clash against friendBy Bobby Alan Wilson CLARKFIELD, Philippines (JP): Filipino Felix Casas defeated America's Gerry Norquist yesterday in the first round of the Volvo Asian Matchplay to set up an exciting second-round draw against his in-form compatriot and ...

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Thu, 18 Dec 1997

JP/On transforming the nation into a new society

On transforming the nation into a new society Leadership succession has been an on-and-off issue in Indonesian politics. Moeslim Abdurrahman, a political observer and Ph.D.

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Thu, 18 Dec 1997

JP/Capital controls can have negative impact

Capital controls can have negative impact JAKARTA (JP): Imposing capital controls as a way of preventing the financial turmoil in Indonesia from worsening would negatively impact the economy, a veteran economist says.

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Thu, 18 Dec 1997

JP/Presidential candidates

Presidential candidates In the Sept. 9 issue of The Jakarta Post I read a statement from the deputy governor of the National Resilience Institute, Prof. Dr. Juwono Sudarsono, who said that for the time being no civilian was fit to fill the highest position in the country's government.

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Thu, 18 Dec 1997

JP/TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 Children's Film 3:10 Science Film: Animal Odyssey 3:35 Religious Teachings: Islam 4:00 Regional News 4:30 Traditional Performance: Gebug Ende 5:00 Arabic Lessons 5:30 Children's Program: Bermain Musik 6:00 News: Lintasan ...

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Thu, 18 Dec 1997

JP/Cancellation of property projects may continue

Cancellation of property projects may continue JAKARTA (JP): Tough times will continue to shade the property sector in the capital for the next 18 months due to the currency upheaval, with more postponed or canceled projects and less demand, according to a property consultant firm.

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Thu, 18 Dec 1997

JP/Satelindo's response

Satelindo's response I would like to thank The Jakarta Post for printing my letter Satelindo saga in its Dec. 10 edition. The letter was a positive catalyst in this matter.The letter was certainly seen by Satelindo and they have responded very positively.

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Thu, 18 Dec 1997

JP/Mobile phone users slam poor service

Mobile phone users slam poor service JAKARTA (JP): Service providers for the popular mobile phone were the third most complained about sector this year, ranking behind housing and banking, according to the Indonesian Consumers Foundation (YLKI).

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Thu, 18 Dec 1997

JP/Australia powers to comfortable win over NZ

Australia powers to comfortable win over NZBy Vic Mills MELBOURNE (JP): In the final limited-overs game before the resumption of Test cricket, Australia eased to a comfortable six wicket win over New Zealand under the lights at the Melbourne Cricket Ground yesterday.

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Thu, 18 Dec 1997

JP/A pedicab and modern Mona Lisa turn up at ceramic display

A pedicab and modern Mona Lisa turn up at ceramic displayText and photos by Stevie Emilia JAKARTA (JP): Seeds of inspiration can come from anywhere, and notoriously poor public transportation services get ceramicist Sri Hartono's creative juices flowing.

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Thu, 18 Dec 1997

JP/Have the markets gone mad?

Have the markets gone mad?By C.J. de Koning JAKARTA (JP): Have markets gone mad on the rupiah? This is a valid question when a depreciation of 5 percent to 10 percent per day occurs. There are two ways to look at the markets. The first one is through the valuation of assets.

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Thu, 18 Dec 1997

JP/Nondenominational faiths put in religious affairs

Nondenominational faiths put in religious affairs JAKARTA (JP): The People's Consultative Assembly ad hoc committee deliberating the draft 1998/2003 State Policy Guidelines agreed yesterday to admit the controversial issue of nondenominational faiths in the religious affairs section.

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Thu, 18 Dec 1997

JP/President Soeharto ready to resume state duties

President Soeharto ready to resume state duties JAKARTA (JP): After resting for about 10 days, Soeharto will resume his state duties at Merdeka Palace today by leading a Military Academy graduation.

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Thu, 18 Dec 1997

JP/Search for Japanese divers continues

Search for Japanese divers continues UJUNGPANDANG, South Sulawesi: Police on Selayar Island in South Sulawesi have joined forces with local search and rescue teams to locate five Japanese divers who have been missing in Bira Bulukumba waters since Friday.

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Thu, 18 Dec 1997

JP/Concerns about reform

Concerns about reform The latest contribution to our rapidly expanding public discourse on the need for reform has come this week from the respected Moslem intellectual Nurcholish Madjid.

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Thu, 18 Dec 1997

JP/Businessman tried for bank swindle

Businessman tried for bank swindle JAKARTA (JP): Businessman Made Oka Masagung was indicted at the South Jakarta District Court yesterday for his role in the forgery of 36 promissory notes worth Rp 324 billion (US$56.3 million) endorsed by his bank, Bank Arta Prima.Prosecutor Y.W.

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Thu, 18 Dec 1997

JP/Transparency 'essential' to restore confidence

Transparency 'essential' to restore confidence JAKARTA (JP): Greater transparency and political will, especially in nominating vice presidential candidates, are essential to restore confidence in the Indonesian economy, chairman of Gemala Group Sofjan Wanandi said yesterday.

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Thu, 18 Dec 1997

JP/RI still attractive to foreign investors

RI still attractive to foreign investors JAKARTA (JP): State Minister of Investment Sanyoto Sastrowardoyo reiterated yesterday that Indonesia was still attractive to foreign investors despite the ongoing currency crisis.Total foreign investment approvals rose to US$33.

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Thu, 18 Dec 1997

JP/Alavi ends Taufik's unbeaten chess run

Alavi ends Taufik's unbeaten chess run JAKARTA (JP): FIDE Master Alavi Moghaddom of Iran ended Indonesian Taufik Hallai's unbeaten run at the world youth chess championships in Cannes, France, early yesterday.Taufik, who had not lost a game through the eighth round and had thus far collected 6.

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Thu, 18 Dec 1997

JP/Exporters yet to benefit from rupiah's sharp fall

Exporters yet to benefit from rupiah's sharp fall JAKARTA (JP): The sharp depreciation of the rupiah against the U.S. dollar will not make Indonesian products more competitive because of their high import content, an economist said.

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Thu, 18 Dec 1997

JP/Police raid clinic, collect samples in abortion probe

Police raid clinic, collect samples in abortion probe JAKARTA (JP): Central Jakarta Police temporarily closed a privately owned clinic on Jl. Kramat VI and detained its seven employees yesterday for questioning in connection with alleged abortion practices.

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Thu, 18 Dec 1997

JP/Soeharto puzzled by rupiah fall

Soeharto puzzled by rupiah fall JAKARTA (JP): President Soeharto found it extremely difficult to understand why the rupiah had continued to fall against the U.S. dollar, a senior minister said yesterday.

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Thu, 18 Dec 1997

JP/The need to improve Indonesia's image in the world community

The need to improve Indonesia's image in the world communityBy Budiono Kusumohamidjojo JAKARTA (JP): The Research and Development Board of the Indonesian Ministry of Foreign Affairs held a workshop on Dec.

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Thu, 18 Dec 1997

JP/Elnusa gets Rp 65b loan from Bukopin

Elnusa gets Rp 65b loan from Bukopin JAKARTA (JP): Bank Bukopin agreed here yesterday to provide credit facilities of about Rp 68 billion (US$11.8 million) to PT Elnusa.

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Thu, 18 Dec 1997

JP/Navy looks for new recruits

Navy looks for new recruits SURABAYA, East Java: The Indonesian Navy is recruiting men and women who want to become naval sergeants and enlisted personnel.Information chief of the Navy's eastern fleet, Lt. Col.

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Thu, 18 Dec 1997

JP/Netherlands' awards honors Indonesians

Netherlands' awards honors Indonesians JAKARTA (JP): Two Indonesians will receive the 1997 Prince Claus Awards of the Netherlands here this weekend, according to the Embassy of the Netherlands.Jim Supangkat, an art critic, and Sardono W.

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Thu, 18 Dec 1997

JP/Bintang threatens to walk out of his subversian trial

Bintang threatens to walk out of his subversian trial JAKARTA (JP): Former legislator Sri Bintang Pamungkas is expected to attend Monday's opening court session of the subversion charges against him but he will likely boycott the rest of the proceedings at the South Jakarta District Court.

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Thu, 18 Dec 1997

JP/Rumors of a coup attempt baseless: Edi

Rumors of a coup attempt baseless: Edi JAKARTA (JP): Minister of Defense Edi Sudradjat told people yesterday not to be provoked by baseless rumors about a coup attempt.

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Thu, 18 Dec 1997

JP/Forest fires a costly lesson: Try

Forest fires a costly lesson: Try KARANG JOANG, East Kalimantan (JP): Vice President Try Sutrisno said yesterday the outbreak of forest fires this year is too costly a lesson that should not be repeated.

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Thu, 18 Dec 1997

JP/Clove trade's monopoly still needed, Hutomo says

Clove trade's monopoly still needed, Hutomo says JAKARTA (JP): Clove Marketing and Buffer Stock Agency (BPPC) chairman Hutomo Mandala Putra said yesterday that the agency's clove trading monopoly was still needed to protect farmers' interests.

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Thu, 18 Dec 1997

JP/Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Photo Exhibition: Kilas Balik 97, at Galeri Foto Jurnalistik Antara, Jl. Antara No. 59 Pasar Baru, Central Jakarta, daily except Monday, 11:30 a.m. to 7:30 p.m., until Jan. 14. Talks with photographer, 2 p.m., on Dec. 20.

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Thu, 18 Dec 1997

JP/I'm not ready for VP position: Hardiyanti

I'm not ready for VP position: Hardiyanti JAKARTA (JP): Siti Hardiyanti Rukmana threw in the towel in the race for the vice presidency yesterday, saying she was not capable of carrying out the second top position.

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Thu, 18 Dec 1997

JP/Three die in diarrhea outbreak

Three die in diarrhea outbreak TANGERANG (JP): A diarrhea outbreak in Solear subdistrict, Cisoka in Tangerang, has killed three people and hospitalized 37 others, an official said yesterday.

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Thu, 18 Dec 1997

JP/Concrete measures awaited

Concrete measures awaited People are now waiting for concrete measures to be taken by the government, as promised by Finance Minister Mar'ie Muhammad after his recent "road show" to the United States.

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Thu, 18 Dec 1997

JP/Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 17, 1997: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo ...

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Thu, 18 Dec 1997

JP/IDB to support Indonesian stock markets

IDB to support Indonesian stock markets JAKARTA (JP): The Islamic Development Bank (IDB) and commercial banks from some Islamic countries have committed to support Indonesia's stock markets by picking up some undervalued, but quality stocks.IDB portfolio director B.M.

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Thu, 18 Dec 1997

JP/Australian aid for Irian Jaya

Australian aid for Irian Jaya JAYAPURA, Irian Jaya: Two twin otter planes have been assigned by the Mission Aviation Fellowship (MAF) office in Australia to assist in the airdrop of food supplies to drought-stricken areas in Jayawijaya district.

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Thu, 18 Dec 1997

JP/Where to go in Bandung:

Where to go in Bandung:Music and Entertainment * Santika Hotel, Jl. Sumatera No. 52-54, Bandung: - Pandanwangi Restaurant: Organist and Singer, Evan and Yanti, Monday, 7 p.m. to 11 p.m., Batarade (Latin Music), Tuesday, Friday, 7 p.m. to 11 p.m., Evan (Organist) and Tine (Singer), Wednesday, 7 p.m.

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Thu, 18 Dec 1997

JP/PT KPC to go ahead with IPO next year

PT KPC to go ahead with IPO next year JAKARTA (JP): Coal mining company PT Kaltim Prima Coal (KPC), based in East Kalimantan, plans to float its shares on the Jakarta Stock Exchange in March, the company said yesterday.Company assistant to managing director Hadi S.

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Thu, 18 Dec 1997

JP/Rupiah's fall 'no longer economic fundamentals sign'

Rupiah's fall 'no longer economic fundamentals sign' JAKARTA (JP): The sharp drop in the rupiah against the U.S. dollar in the last three months did not reflect the country's economic fundamentals any more, according to an economist.

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