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

Tue, 01 Sep 1998

JP/PLN suffers Rp 15t loss in first-half

PLN suffers Rp 15t loss in first-half JAKARTA (JP): State electricity company PT PLN suffered a net loss of Rp 14.99 trillion (US$1.3 billion) for the first half of this year compared to a net profit of Rp 720 billion in the same period of 1997.

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Tue, 01 Sep 1998

JP/Legal institutions 'must seize their independence'

Legal institutions 'must seize their independence' JAKARTA (JP): Political scientist Daniel S. Lev urged the country's judiciary to be more proactive in gaining greater independence from the executive branch.

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Tue, 01 Sep 1998

JP/Jamsostek tightens investment policy

Jamsostek tightens investment policy JAKARTA (JP): PT Jamsostek, a state-owned company that runs a social security program for workers, has tightened its investment policy to prevent future losses and to improve its image.

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Tue, 01 Sep 1998

JP/Rampage marks troops withdrawal from Aceh

Rampage marks troops withdrawal from Aceh JAKARTA (JP): Thousands of people ran amok on Monday in Lhokseumauwe, about 250 kilometers east of the provincial capital Banda Aceh, following the pullout of the second batch of combat troops from Aceh province.

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Tue, 01 Sep 1998

JP/Bomb squad continue sweep

Bomb squad continue sweep PALEMBANG, South Sumatra: Bomb squad personnel continued their sweep on Monday of the area surrounding the Palembang air base after an unexploded World War II bomb was found in a nearby field over the weekend"It's likely that many bombs were embedded near ...

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Tue, 01 Sep 1998

JP/Governor's inauguration protested

Governor's inauguration protested JAKARTA (JP): Hundreds of demonstrators clashed with security forces in Mataram, West Nusa Tenggara, on Monday as they tried to disrupt the inauguration of Harun Alrasid as the province's governor.

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Tue, 01 Sep 1998

JP/Rupiah remains firm, stock prices rebound

Rupiah remains firm, stock prices rebound JAKARTA (JP): The rupiah closed slightly firmer against the U.S. dollar in moderate trading on Monday, while stock prices rebounded on government-backed buying of state-owned stocks.

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Tue, 01 Sep 1998

JP/My money in limbo?

My money in limbo? I am writing in despair and not a little anger at the treatment I have received at the hands of Citibank Inc.Twice, now, Citibank has "lost" telex transfers that I have sent to the United Kingdom.

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Tue, 01 Sep 1998

JP/Efficiency of rice distribution system questioned

Efficiency of rice distribution system questioned JAKARTA (JP): A city councilor questioned the efficiency of the capital's rice distribution system on Monday as prices continued to skyrocket despite a reportedly ample amount of rice in stock.

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Tue, 01 Sep 1998

JP/Banks opened to overseas investment

Banks opened to overseas investment JAKARTA (JP): Minister of Finance Bambang Subianto said Monday that foreign investors would be treated equally with local investors in the opportunity to acquire ailing local banks.

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Tue, 01 Sep 1998

JP/BNI, BDN, Bapindo stay in the black amid crisis

BNI, BDN, Bapindo stay in the black amid crisis JAKARTA (JP): Three state banks -- Bank Negara Indonesia (BNI), Bank Dagang Negara (BDN) and Bank Pembangunan Indonesia (Bapindo) -- chalked up profits in the first half of the year despite the worsening economic crisis.

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Tue, 01 Sep 1998

JP/BII clients reject rate hike

BII clients reject rate hike JAKARTA (JP): Bank Internasional Indonesia (BII)'s clients have opposed the bank's decision to raise its interest rates on home loans to 27 percent from 19 percent.Benny A.

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Tue, 01 Sep 1998

JP/S'pore sends rice, medicine

S'pore sends rice, medicine MEDAN, North Sumatra: Singapore has donated 490 metric tons of rice worth S$10 million along with S$2 million of medicine to Indonesia, and will send more assistance so that the total reaches 10,000 tons of rice.Brig. Gen.

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Tue, 01 Sep 1998

JP/Navy launched Jonggol harvests

Navy launched Jonggol harvests JAKARTA (JP): Navy Chief of Staff Rear Adm. Widodo AS launched on Monday harvests of corn and peanut crops cultivated on eight hectares of idle land in Jonggol district, Bogor.The produce consisted of about 16.5 metric tons of corn harvested from a 4.

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Tue, 01 Sep 1998

JP/High-tech takes a backseat in crisis, Habibie says

High-tech takes a backseat in crisis, Habibie says JAKARTA (JP): President B.J. Habibie, long an ardent advocate of the importance of high technology for the nation, has cited procurement of daily necessities as his administration's top priority during the economic crisis.

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Tue, 01 Sep 1998

JP/Standards for artists' skills

Standards for artists' skills YOGYAKARTA: The Ministry of Education and Culture is to introduce a standardization of skills of musical and performance artists in order to make it easier for both domestic and foreign organizers to hire them for performances.Director of Arts and Culture W.J.

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Tue, 01 Sep 1998

JP/Police arrest 10 alleged container robbers in raids

Police arrest 10 alleged container robbers in raids JAKARTA (JP): Police have arrested 10 men believed to be members of the two most wanted container robbery gangs which preyed on cargo trucks headed to destinations across Java.

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Tue, 01 Sep 1998

JP/Mutual trust needed for cultural reconciliation

Mutual trust needed for cultural reconciliationBy Mudji Sutrisno S.J. JAKARTA (JP): The mystery of cultural creativity remains even as civilization continues to develop amid political cruelty, human rights suppression, control of critical thought and restrictions on differences of opinion.

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Tue, 01 Sep 1998

JP/RI baseball team off to Osaka

RI baseball team off to Osaka JAKARTA (JP): Indonesia will send a 16-strong team to the AAA Asian Under-18 Baseball Championship in Osaka, Japan, scheduled to run from Sept. 3 to Sept. 14.

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Tue, 01 Sep 1998

JP/Thousands in East Flores turn to tree fruit and leaves

Thousands in East Flores turn to tree fruit and leaves JAKARTA (JP): East Nusa Tenggara (NTT) Governor Piet Alexander Talo said about 13,000 people in East Flores regency are having to survive on the fruits of mangrove jujube trees and the leaves of tamarind trees as they could no longer afford ...

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Tue, 01 Sep 1998

JP/Drama of RI's economic crisis

Drama of RI's economic crisisBy Mar'ie Muhammad The following is an excerpt from a paper presented by former finance minister Mar'ie Muhammad at the Asia Research Center, Murdoch University, in Perth, Western Australia, on Aug. 20. This is the first of two articles.

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Tue, 01 Sep 1998

JP/RI junior chess team captures Merdeka Cup

RI junior chess team captures Merdeka Cup JAKARTA (JP): The Indonesian team of four boys won the 17th Merdeka Cup youth chess tournament in Kuala Lumpur, Malaysia, which concluded Sunday.

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Tue, 01 Sep 1998

JP/Ananda seeks better future in auto racing

Ananda seeks better future in auto racing JAKARTA (JP): Like father like son. That's the most likely reason why Ananda Mikola dons a racing suit.But when it comes to dreams, teenage Ananda wants to surpass the achievements of his father -- former top national driver Tinton Suprapto.

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Tue, 01 Sep 1998

JP/Prabowo in list of rising stars shot down in their prime

Prabowo in list of rising stars shot down in their primeBy Lela E. Madjiah This is the first of two articles exploring the history of Indonesia's fallen officers.

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Tue, 01 Sep 1998

JP/Cilacap back to normal, but tension still palpable

Cilacap back to normal, but tension still palpable CILACAP, Central Java (JP): Most shops remained shuttered in this coastal city on Monday and troops patrolled thoroughfares following three days of rioting that exploded on Friday.Cilacap police chief Lt. Col.

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Tue, 01 Sep 1998

JP/TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:35 Children's Film: The Big Valley 3:05 Documentary: Tanah Airku 3:30 Village Program 4:00 Regional News 4:30 Music: Lagu Pop Daerah 5:00 English Lessons 5:30 Documentary: Survei dan Pemetaan Hidro Oseanografi 6:00 News: Lintasan Berita ...

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Tue, 01 Sep 1998

JP/Indocement's profit falls

Indocement's profit falls JAKARTA (JP): Publicly-listed cement maker PT Indocement saw its net profit fall drastically to Rp 3.3 billion (US$300,000) in the first half of this year, from Rp 262.5 billion in the corresponding period of 1997, the company said Monday.

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Tue, 01 Sep 1998

JP/Ade regains Asian crown

Ade regains Asian crown JAKARTA (JP): Indonesia's Ade Rai won the light heavyweight gold medal in the Asian Master Body Building Championships in Ho Chi Minh City, Vietnam, over the weekend.

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Tue, 01 Sep 1998

JP/DuPont gives scholarships

DuPont gives scholarships JAKARTA (JP): U.S chemical giant DuPont Far East Inc. announced Monday it would award Rp 72 million (about US$6,500) in scholarships to eligible students from 33 state universities in Indonesia during 1998/1999 academic year.

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Tue, 01 Sep 1998

JP/Persija chief dies at 48

Persija chief dies at 48 JAKARTA (JP): The chief of Jakarta-based soccer club Persija, Todung Barita Lumban Raja, died of cancer last night at Mitra Keluarga Hospital in Jatinegara, East Jakarta.He was 48 years old and is survived by a wife and three children.

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Tue, 01 Sep 1998

JP/Why look for masterminds?

Why look for masterminds? I would like to know why it is that so much attention is being given to the so-called issue of "trying to identify the masterminds behind the Jakarta riots of May 13 through May 15".

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Tue, 01 Sep 1998

JP/Policeto adopt amiable approach in seat belt drive

Policeto adopt amiable approach in seat belt drive JAKARTA (JP): Police have been instructed to give out warnings to motorists not using seat belts in the lead-up to and after a seat belt regulation comes into effect in the capital on Sept. 17, a high-ranking official said on Monday.

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Tue, 01 Sep 1998

JP/Our national blueprint

Our national blueprint President B.J. Habibie has described six development milestones in our history and attempts to build a civil society based upon the central role of the government initiating, facilitating and promoting a competitive democratic society based on respect for human rights, ...

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Tue, 01 Sep 1998

JP/Where to go in Bandung:

Where to go in Bandung:Music and Entertainment * Hotel Papandayan, Jl. Gatot Subroto No. 83 (Phone: 022 310799): - The Burangrang Lounge at 7 p.m. to 10 p.m.: Piano Solo, Monday. Jazz Duo, Tuesday. Piano Solo, Wednesday. Piano, Jazzy Voices, Thursday. Jazz Quartet, Friday.

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Tue, 01 Sep 1998

JP/Agung mulls takeover of Sentul circuit

Agung mulls takeover of Sentul circuit JAKARTA (JP): State Minister for Youth Affairs and Sports Agung Laksono said on Monday that his office was still studying a proposed takeover of the Sentul circuit in Bogor, West Java.

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Tue, 01 Sep 1998

JP/Hotel Majapahit's new boss

Hotel Majapahit's new boss JAKARTA (JP): International hotel chain Mandarin Oriental Group has appointed Bradford Zak as a new manager of Hotel Majapahit Mandarin Oriental in Surabaya, East Java.

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Tue, 01 Sep 1998

JP/Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 31, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo ...

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Tue, 01 Sep 1998

JP/Slaughtering fees to be raised

Slaughtering fees to be raised JAKARTA (JP): City-owned slaughterhouse PD Dharma Jaya will raise fees for butchering pigs and cattle by 30 percent and 65 percent respectively to enable the company to cover losses caused by the crisis.

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Tue, 01 Sep 1998

JP/INDRA caps September debt rate at Rp 12,314

INDRA caps September debt rate at Rp 12,314 JAKARTA (JP): The Indonesian Debt Restructuring Agency (INDRA) set on Monday the rupiah exchange rate for the conversion of overseas debts of local corporate debtors participating in the agency's debt restructuring program this month at Rp 12,314 per U.

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Tue, 01 Sep 1998

JP/Harmoko pins high hope on upcoming election

Harmoko pins high hope on upcoming election JAKARTA (JP): Speaker of the House of Representatives/ People's Consultative Assembly (DPR/MPR) Harmoko pinned high hopes on Monday on the upcoming general election to bring improvements for the nation.

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Tue, 01 Sep 1998

JP/MPR begins discussing its special session agenda

MPR begins discussing its special session agenda JAKARTA (JP): The People's Consultative Assembly (MPR) is gearing up for its four-day special session beginning on Nov. 10, with its five factions pushing for their own agendas to be included in the proceedings.

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Tue, 01 Sep 1998

JP/Nature or nurture: What is there behind transsexuality?

Nature or nurture: What is there behind transsexuality? JAKARTA (JP): Rejection or indifference: These are the two most common reactions transsexuals have to deal with in our society.

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Tue, 01 Sep 1998

JP/DialMart starts operating today

DialMart starts operating today JAKARTA (JP): New household shopping service company PT DialMart Indotama is scheduled to start operations Tuesday to serve customers in Jakarta, Tangerang and Bekasi.

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Tue, 01 Sep 1998

JP/Habibie and Soeharto

Habibie and Soeharto During the Soeharto regime, the people were witness to at least five categories of deceptive information -- regarding the wealth of government officials and their families, politics, cultural and social values, justice and economic conditions.

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Tue, 01 Sep 1998

JP/Merpati cuts Jambi flights

Merpati cuts Jambi flights JAKARTA (JP): State-owned Merpati Nusantara airlines will reduce its weekly flights between Jakarta and Jambi from seven to five starting Tuesday, following the 40 percent increase in domestic airfares.

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Tue, 01 Sep 1998

JP/Attorney General begins banking investigations

Attorney General begins banking investigations JAKARTA (JP): The Attorney General's Office has started the process of investigating the management and owners of 14 troubled banks receiving more than Rp 102 trillion (US$9.3 billion) in Bank Indonesia liquidity support.

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Tue, 01 Sep 1998

JP/The specter of anarchy

The specter of anarchy The sporadic riots which broke out in Cilacap, Central Java, and Bondowoso and Situbondo in East Java last weekend have raised the specter of anarchy spreading to other parts of the archipelago.

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Tue, 01 Sep 1998

JP/Enemployment, poverty to reach alarming level

Enemployment, poverty to reach alarming level JAKARTA (JP): An average of almost 15,000 workers will lose their jobs every day this year and two out of three Indonesians are likely to be living below the poverty line in 1999, the International Labor Organization (ILO) warned on Monday.

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Tue, 01 Sep 1998

JP/Aceh atrocities boost people's demand for autonomy

Aceh atrocities boost people's demand for autonomyBy Pandaya BANDA ACEH, Aceh (JP): The fragile-looking Baharuddin Lopa stood in a crowd of 1,000 people surrounding an excavated hillside mass grave under a scalding sun, alternately acting like a fossil auctioneer and a fiery orator.

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Tue, 01 Sep 1998

JP/Banks must take human approach to home loans

Banks must take human approach to home loans JAKARTA (JP): Local banks must use a "human approach" when dealing with their home loan recipients who can no longer afford to make their monthly payments, banking observer Enny Hardjanto said on Monday.

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Tue, 01 Sep 1998

JP/Unrelenting economic crisis forces children onto the streets

Unrelenting economic crisis forces children onto the streetsBy Jupriadi JAKARTA (JP): Anto wiped sweat from his face and bravely whisked around the slow-moving cars caught in heavy traffic in the Blok M commercial district in South Jakarta."Prabowo has been fired...

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Tue, 01 Sep 1998

JP/Transsexuals find money, peace, joy at Taman Lawang

Transsexuals find money, peace, joy at Taman LawangBy Yudha Kartohadiprodjo and Yogita Tahil Ramani JAKARTA (JP): The father wanted the son to work in the field of medicine. The father would have settled for anything, even if it meant his son mopped hospital floors.

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Tue, 01 Sep 1998

JP/Asset redistribution must put people first

Asset redistribution must put people first Several commercial banks have failed to repay liquidity support to Bank Indonesia, the central bank, because their debtor companies defaulted on repaying their debts.

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Tue, 01 Sep 1998

JP/Rates for Tax Payment

Rates for Tax Payment JAKARTA (JP): The new official conversion rates as the basis for payment of import duty, value-added tax on goods and services, sales tax on luxury goods, export tax and income tax, valid from Aug. 31 to Sept. 6: U.S. dollar 1 Rp 10,900.

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Tue, 01 Sep 1998

JP/Project for skilled workers launched

Project for skilled workers launched JAKARTA (JP): The city administration launched on Monday a labor-intensive project worth more than Rp 60 billion (US$5.45 million) for skilled workers to help ease unemployment problems in the capital.

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Tue, 01 Sep 1998

JP/The war in Congo

The war in Congo The situation in Congo is taking such a dangerous turn that at this stage -- given that the conflict is already international -- one can only hope that a third-party country gets involved in efforts to find a solution. Unfortunately, domestic problems in the U.S.

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Tue, 01 Sep 1998

JP/Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Aug. 31, 1998: Buying Selling Rp Rp U.S. dollar 1 10,850.00 11,250.

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Tue, 01 Sep 1998

JP/Doctor gets two years for illegal abortions

Doctor gets two years for illegal abortions JAKARTA (JP): The Central Jakarta District Court sentenced an obstetrician to two years in jail and fined him Rp 3 million (US$272) on Monday for illegally aborting an average of 10 to 15 babies a day.

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Tue, 01 Sep 1998

JP/Hoarders blamed for soaring rice price

Hoarders blamed for soaring rice price JAKARTA (JP): Minister of Cooperatives, Small and Medium Enterprises Adi Sasono has singled out profiteering big traders as to blame for skyrocketing rice prices.

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